High Profile Transactions

While the market reports and trends are showing a dip in activity across the board in terms of new transactions and new products, there have been some notable purchases in the recent weeks. These transactions I believe should send a strong sign that it maybe the perfect time to buy in larger cities significantly affected by Covid such as New York City. 

There was a great article released in Business Insider quoting Marc Cuban which said  “"In big dense cities, like New York, you're starting to see condos — the prices there have just dropped like rocks," he said. "If you think you want to live in New York in the future, now's the time to buy. If you think you want a house in an area that's been hit hard — Detroit or wherever it may be — now's the time to buy." 

• Transactions

  • This past week Jeff Bezos purchased another apartment, his fourth, at 212 5th Avenue -https://therealdeal.com/2020/04/17/jeff-bezos-adds-to-spread-at-212-fifth-with-16m-buy/

  • A South American family purchased 8 Units worth $27M  at GID’s development Waterline Square https://therealdeal.com/2020/04/15/safer-than-a-bank-south-american-family-scoops-up-8-units-at-gids-waterline-square/

  • John Legend and Chrissy Teigen purchased another NYC apartment at 373 Broome https://therealdeal.com/2020/03/31/john-legend-chrissy-teigen-snap-up-another-nolita-penthouse/