All I hear and read in the media is doom and gloom about NYC real estate. Sales are down 67% according to what I read today. Is it translating into any real opportunities yet or still premature on the distressed front? Looking at reaidential in Manhattan ideally if Cap rates end up taking off. Anyone seeing Cap rates increasing yet? I am not from the area but am considering dipping my toe in the water if there are in fact opportunities yet as part of any broader market softness.
@Travis C. Are you looking to buy apartment buildings? You may be hard pressed to find deals in Manhattan for a while. NY and NJ are ahead of the curve as far as Covid is concerned and is starting to reopen. The work from home era has begun, but as long as there are young professionals, Manhattan will always be a place to move to.