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Manhattan Housing Market Slow Despite Big Wall Street Bonuses

By Patrick following x   2018 Mar 28, 5:17pm 262 views   4 comments   watch   sfw   quote     share    


https://www.mansionglobal.com/articles/92757-manhattan-housing-market-shrugs-despite-big-wall-street-bonuses

Despite the biggest Wall Street bonuses since the Great Recession, Manhattan recorded a 15% drop in luxury home buying in the first quarter of 2018, according to data on luxury contracts, a disparity that highlights the diminishing weight of bonus season on the city’s housing market.

Wall Street bankers and traders just pocketed their biggest bonuses since 2006, with the average payout equaling $184,220, the New York State comptroller announced Tuesday. But Manhattan’s property brokers are still waiting to see those big paydays spill over in the form of home sales.

MORE: Harvey Weinstein Sells Manhattan Townhouse for Over $25 Million

Buyers signed contracts for 282 homes priced over $4 million in Manhattan between January and March compared to 330 last year—marking a 15% drop in luxury activity, according to data culled by Olshan Realty.
1   APOCALYPSEFUCKisShostikovitch   ignore (28)   2018 Mar 28, 5:19pm   ↑ like (3)   ↓ dislike (0)   quote        

Hep cats with money live in Singapore.
2   Patrick   ignore (0)   2018 Mar 28, 5:22pm   ↑ like (1)   ↓ dislike (0)   quote        

I've got a friend who moved from SF to Singapore and is now making >$500K/year doing reinsurance deals.

Taxes are way lower for him there.
3   Rin   ignore (4)   2018 Mar 28, 9:08pm   ↑ like (1)   ↓ dislike (0)   quote        

Patrick says
with the average payout equaling $184,220


That's a crap number!

When I was actively in the hedge fund business, our receptionist banked $100K as a bonus, paying off her entire masters degree at Columbia in one year, post taxes.

Seriously, if this is what the Street is making, then at most, we have ppl living in squalor in some rundown Manhattan studio apartments.
4   bob2356   ignore (1)   2018 Mar 28, 9:34pm   ↑ like (0)   ↓ dislike (0)   quote        

Rin says
That's a crap number!


I'm sure the NY comptroller has no clue what the number is. After all everyone knows that on wall street they hand out bonuses in big paper sacks of cash without telling the state how much.

Patrick says
Manhattan Housing Market Slow Despite Big Wall Street Bonuses


What happened to foreigners driving prices through the roof? Why can't real estate shills find a story and stick with it?




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