buying apartment NYC

I've been investing for a down payment on my first apartment (hopefully in NYC Fidi, Upper East, Murray Hill, Soho) for a while now and have 15,000 saved... I'm still 19 so I should have time to get that number up to a sizable down payment (20%) by the time I finish a 2-3 year analysts stint and am around 24-25. Prior to that, I plan on renting with roommates mostly just for the social aspect... (I could definitely save more, but I enjoy some luxuries in life which my parents don't always cover)

Anyway, I have a very successful parent in PERE he/she keeps on telling me how low the Manhattan apartment market is going to go in 3-4 years once developers and banks really feel the squeeze of coronavirus and people start to move out of the city. (I think NYC population has been decreasing for a while now). Is he/she right? What do people think is going to happen to the 1 bedroom market there? If an apartment in one of the these neighborhoods costs 700,000 today.... Could it really be worth like 450,000-500,000 in 4 years?

104 WSO Academy Real Estate Session Reviews: 4.92/5

Class of '29 Sep 2026 Cohort

5.00/5

Real Estate Career Roadmap (optional)

“Nick was extremely informative and gave me a lot of solid and practical advice. He answered all of my questions clearly and thoughtfully. I really appreciated that he gave me an actionable plan for how to approach recruiting and developing my career in general. He was very open about sharing his own experiences. He also gave me helpful perspective on how to differentiate myself during the recruiting process and make my conversations with professionals more meaningful. I feel like I have a clearer understanding of what I should focus on and concrete next steps. This was overall a helpful and valuable conversation. ”

Class of '28 Aug 2026 Cohort

5.00/5

Real Estate Mock Interview

“Nick was fantastic. He didn’t just glance at my resume and give me generic advice—he explained exactly why it wasn’t telling the story I wanted it to tell, then helped me figure out how to fix it. He pushed me to be more intentional about how I talk about my experience and gave me concrete steps to prepare for interviews, from tailoring my resume to practicing financial modeling. I also appreciated how candid he was. When I asked about real estate capital markets versus sales and trading, he gave me his honest opinion while being clear about his own perspective. He shared interview guides, answered all my questions, and offered to do a more detailed mock interview if I move forward with JLL. I left with a lot of work to do, but also a much clearer idea of how to do it. I’d absolutely recommend talking with Nick.”

See All 10,980 WSO Academy Reviews

+53	What it's like to try and start your own shop and fail	19	1d
+28	Best Certifications	8	2d
+26	Lean acquisitions team at a large owner/operator — normal growing pains or wasting valuable early-career years?	4	20h
+22	10-Year at ~5.25% When Reprice?	7	1d
+11	How to break into NYC RE market without living there?	4	3d
+9	European Bank RE Debt Modeling Test – Senior Analyst	1	2d
+7	Would You Sell a Property at a Discount to Avoid Renovation Costs?	1	2d
+6	Quadreal - Insights	3	2d
+6	AI implication on CRE fundamentals by sector	1	5d
+4	Eastdil 1-Hour Team Interview – Any Insight?	6	3d

1	redever	99.2
2	BankonBanking	99.0
3	Secyh62	99.0
4	kanon	99.0
5	dosk17	98.9
6	GameTheory	98.9
7	CompBanker	98.9
8	Betsy Massar	98.9
9	DrApeman	98.9
10	Linda Abraham	98.8

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buying apartment NYC

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