All Forum Posts by: Mel Rivera

Thanks for the responses so far!  To clarify, the property would be something I could move into within the next year and would stay with our family for at least a generation.  My question about the area and property value is more of a longterm projection rather than expecting quick property value increases or tenants/renters. 

HI All, 

New to the forum but I'm hoping to get some more timely insight into the NYC market in the wake of this election.  I've been considering a seasonal work space/investment property in New York for some time (currently, West Coast primary residence w/ multiple properties in-state) and after several visits and much research, I've drifted towards the Lower East Side over Dunbo/Harlem after discovering lots of exciting projects under development in the area. 

It seems like the frantic rush to build and buy has taken a bit of a pause post-election which could be an indication of a nervous industry.  Regardless of our commander in chief, pending changes to regulation, etc, my guess is developers in New York City shouldn't worry and if LES is one of the last areas of the borough to not be completely developed it seems like the time to buy, no?  Any thoughts on moving quickly versus letting things play out a bit longer?  With some properties expecting completion in 2017 is it best to make a move in the midst of the temporary pause I sense the market is in?  

Or is this all much ado about nothing and a good space at a good price is a good investment, period?  Any insight from this knowledgeable crowd would be much appreciated! 

M.