Invest in Manhattan residential real estate today.
Your future self will thank you.

A real estate fund that invests in Manhattan residential condominiums,
rents them out and holds them for the long-term.

Why Manhattan Residential?

Manhattan is a 22-square mile island surrounded by densely-populated urban and suburban areas, with an 834-acre park at its center. It is supply-constrained and highly utilized, making it some of the world’s most coveted real estate.

Performance

Since 1998, the median price of Manhattan condominiums has increased by 464%, or 9.0% on an annualized basis.

Source: Miller Samuel Inc.

Global Capital

Manhattan is the world capital for media, fashion, advertising and entertainment industries, and the financial capital of the global economy.

Optimal Timing

The market is currently experiencing signs of softness. Since Q1 2016, the number of condominium sales has declined by 14.8% and the median price of a condominium has declined by 11.7%.

Source: Douglas Elliman - Q1 2016 Market Report; Q2 2018 Market Report

Strong historical performance.

Over the past 20 years, Manhattan condominium prices have appreciated more than twice as much as stocks or bonds.

Source: Douglas Elliman Q4 2017 Sales Market Report. January 2018

Cumulative Return

19982000200220042006200820102012201420162018100200300400500600464%188%165%
Manhattan Condominium Median Sale Price
S&P 500
Bloomberg Barclays US Aggregate Bond Index

Manhattan Residential Market Overview.

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Number of Condominiums in Manhattan

Source: The City of NY Dept. of Finance
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Number of Annual Condominium Sales in Manhattan

Source: The Elliman Report Q2 2018
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Average Price of a Manhattan Condominium

Source: The Elliman Report Q2 2018
$0

Average Price Per Square Foot of a Manhattan Condominium

Source: The Elliman Report Q2 2018

The perfectly uncorrelated asset to diversify your portfolio.

Manhattan condominium prices have historically been uncorrelated to both the equities market and the bond market.

Manhattan Condominium Median Sale Price
S&P 500
Bloomberg Barclays US Aggregate Bond Index
Source: Douglas Elliman Q4 2017 Sales Market Report. January 2018Source: Yahoo Finance. December 27, 2017Source: Lazard Asset Management. 1998-2017* 20 year period selected for illustrative purposes; additional years and data are available upon request.

Year-over-year Price Change

-50%-40%-30%-20%-10%0%10%20%30%40%50%19981999200020012002200320042005200620072008200920102011201220132014201520162017
Manhattan Condominium Median Sale Price
S&P 500
Bloomberg Barclays US Aggregate Bond Index
Source: Douglas Elliman Q4 2017 Sales Market Report. January 2018Source: Yahoo Finance. December 27, 2017Source: Lazard Asset Management. 1998-2017* 20 year period selected for illustrative purposes; additional years and data are available upon request.