Real estate professional Samuel Lehrer has overseen construction projects up and down the East Coast for years, earning a reputation for excellence and quality in all his builds. With expert insight into today’s real estate market, he explains below why the boroughs of New York City are worth investor’s time and money.
Samuel Lehrer has contributed to real estate developments across a professional career spanning decades and has become an authoritative voice on construction and investment properties in America. He frequently informs potential buyers of the benefit of investing into New York properties, which have proven to hold and mostly improve in value with time.
“The New York City market is a healthy, lucrative one that has maintained its appeal to people around the world for centuries,” says Samuel Lehrer. “People tend to think of Manhattan when looking for New York properties, but all the boroughs have their unique appeal to buyers.”
He tells investors that the NYC area has a huge potential for success as the city is one of the world’s largest international hubs with newcomers in constant need of quality housing. Besides Manhattan, areas like Queens, Brooklyn and even nearby cities on Long Island provide many opportunities for purchasing and reselling single-family homes.
Of the just under 20 million citizens living in New York State, nearly half of the population can be found in and around NYC. The city has gained a reputation for serving as a revolving door for international buyers who come looking for condos, apartments, and homes on varying budgets. Samuel Lehrer recommends anybody with the drive and funds to invest in real estate to look to the NYC area for success in the long-run.
“Many of the properties will sell as-is, but there are hundreds that make for great renovation projects that come with a huge potential for high return, whether the owner sells it or rents it out,” says Samuel Lehrer. “Many of the buildings in the city and nearby have been around for generations and draw in a lot of appeal for their vintage charm and unique dimensions.”
He believes the real estate market––and especially New York’s––is in an ideal state for investors to take on a flipping project. The cost to turn around a finished project has lessened as more manufacturers and companies have gotten involved following the popularity boom. Additionally, many people in NYC today are transient and choose to spend only a few years at a time in one house instead of staying put until it’s an empty nest or retirement kicks in.
“The New York real estate market is healthy and competitive in all five boroughs, so if you’re looking for an investment property that is sure to earn you money back in the future, this is the city for it,” says Samuel Lehrer.