Danny Unlocks NYC

Daniel Barry 🅝🅨🅒 Real Estate 🗝 Licensed RE Salesperson & Referral Agent 💱 LEVEN Real Estate ($1.5B+ Sold) 🌎 Buying, Selling, Renting? DM ↯ 🇧🇷

[Danny Unlocks NYC @DannyUnlocksNYC]

Is this the best view in NYC?

111 W 57th St on Billionaire’s Row.

I’ve had clients looking at buildings nearby who were willing to pay large premiums for Central Park views.

There is something special about having a view of Central Park, especially for out of town buyers.

[Danny Unlocks NYC @DannyUnlocksNYC]

@allencbuchanan @EinhornGabe Generally 40x rent so $180,000 income would be needed. The numbers usually go in favor of buying if someone is planning to stay in the apt for more than 3-4 years.

[Danny Unlocks NYC @DannyUnlocksNYC]

@maggiemoda Crown Heights or Windsor Terrace.

[Danny Unlocks NYC @DannyUnlocksNYC]

There is a huge opportunity right now for opportunistic condo investors in NYC who are not neighborhood specific with their requirements.

I literally have two 5%+ cap rate options right now (which are super rare), and no one has snatched them up yet because everyone is too focused on multifam.

[Danny Unlocks NYC @DannyUnlocksNYC]

@BenjiJacRE That is a much smarter decision. 🤝

[Danny Unlocks NYC @DannyUnlocksNYC]

For $60M, you can have an apartment with this outdoor space in Greenwich Village.

5 Bedrooms & over 8000 sq ft (listing courtesy of Corcoran).

If you had a $100M net worth… would you spend $60M on this apartment?

[Danny Unlocks NYC @DannyUnlocksNYC]

@elite_investor_ I have a 5% cash return condo I am posting this week in Borough Park, that is the best opportunity right now.

[Danny Unlocks NYC @DannyUnlocksNYC]

Real estate in NYC is often about picking the “least bad” option, as opposed to picking a “good” option. Unless you have a huge budget.

Would you prefer to live in a big dungeon? Or would you rather have natural light but live in a closet-sized apt?

Those are the real questions to ask.

[Danny Unlocks NYC @DannyUnlocksNYC]

This is what $1.2M gets you in LIC…

[Danny Unlocks NYC @DannyUnlocksNYC]

If collaboration bears fruits, and experience brings knowledge, why do some with experience refuse to collaborate?

[Danny Unlocks NYC @DannyUnlocksNYC]

Gambling addiction? Easy fix: Become a real estate agent in NYC and only sell co-ops. 😂

[Danny Unlocks NYC @DannyUnlocksNYC]

@GenZMultifamily What cap rate do you generally target?

[Danny Unlocks NYC @DannyUnlocksNYC]

130 William is responsible for destroying condo values in FiDi. This penthouse unit just hit the market today.

Why did 130 William destroy value in FiDi?

Because it is so much better than all the buildings around it. None of the “competing” buildings (luxury condo) can actually compete. It flooded an already saturated FiDi market with some of the highest quality units in the entire city.

Buildings nearby like 15 William have seen 25% decreases. Are there other contributing factors to those declines in value? Of course.

One still has to wonder though, what the FiDi landscape would look like without this masterpiece making every building around it look bad.

[Danny Unlocks NYC @DannyUnlocksNYC]

@realEstateTrent Is there a way of finding that info more quickly/earlier on in the process? Or not really

[Danny Unlocks NYC @DannyUnlocksNYC]

@GenZMultifamily If sellers didn’t get so angry at lowballs they would get a much more realistic picture of what their property is actually worth.

[Danny Unlocks NYC @DannyUnlocksNYC]

@loganjrankin In NYC some condos & co ops have terrible financials.

Most of the time buyers find out weeks into the sale once the docs get to their attorney.

So much time wasted, can all be avoided by taking a 2 second look at the financials before making an offer.

[Danny Unlocks NYC @DannyUnlocksNYC]

@juliusmarchi What cap rate & unit type are you looking for?

[Danny Unlocks NYC @DannyUnlocksNYC]

@realEstateTrent I am finally starting to see the residential market adjust on the buy side.

A lot of buyers were waiting for rates to drop and got tired of waiting.

Sellers… different story. 😂

[Danny Unlocks NYC @DannyUnlocksNYC]

@CaseyMericle I find most of those sellers are not even looking for a real solution in the first place.

They just want to test boundaries and see if they can make people give them a better deal using emotional pressure. 😂

[Danny Unlocks NYC @DannyUnlocksNYC]

@ErikTSexton Sellers have such a hard time understanding their actual net. When ego gets involved, all of their decisions become illogical.

[Danny Unlocks NYC @DannyUnlocksNYC]

@MultifamilyMad The saddest part is that if you managed to bring them a 15 cap, they probably wouldn’t even buy it.