There's an interesting first analysis in The Real Dealon the impact Britain's vote to exit the European Union (BREXIT) will have on New York and our real estate markets. Mortgage interest rates, already at historically low levels, have gone even lower with this vote. London no longer being a capitol of world commerce is expected to benefit our commercial real estate -- office buildings, multi-family buildings and high-end retail -- and our relative stability in comparison to theirs is expected to attract foreign wealth looking at NYC investment properties and other real estate as a wealth preservation asset. The one caveat, of course, being concern about whether BREXIT eventually leads to a global recession.
Assuming you agree life is best lived as though catastrophe will be avoided, now might be an even more opportune time to further consider owning a piece of Planet Capitol. Please call me - 917 538 4516 - with any questions or for a general discussion of opportunity here. Also, here's a beautiful two-bedroom, 1.5 bath coop with a new, enlarged kitchen, high ceilings, crown moldings, and a usable balcony in the rebounding Upper East Side you may wish to consider.
Enjoy our NYC summer -
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