New York City has always been known for its real estate. Whether going back to the days that it was “purchased” by the Dutch or to more recent times with the construction of the new World Trade Center. But the question is, what are the hottest trends in real estate these days, particularly for house hunting for residents.
New Yorkers have plenty to choose from for those looking for apartment to rent or to buy. The downside to these trends is the amount of time one can spend looking for a residence when one has to work and spend time with their family.
Here are some things to look for:
New buildings that have just sprung up consist of The Amberly at 120 Nassau Street located in Downtown Brooklyn. Studios start at $2,100 per month. The building was designed by Australian company Wood Bagot and it’s their first North American tower. What distinguishes this luxury building is that it is modeled on a terracotta façade that is common by Brooklyn’s brownstones. There are a total of 270 units and all are furnished with walnut cabinets and bathroom floors which contain an herring-pattern. To inquire about such a place call Citi Habitats New Developments, 347-752-5134.
New to the Lower East Side is a first: A luxury condo build using modular construction. Two-bedrooms from $2.1 million. Put together by LI Modular and Jeffrey Jacobs have a five-unit building and a virtual doorman along with a roof deck and grills. For inquiries contact Brown Harris Stevens Development Marketing, 212-712-1193).
Another intriguing rental is in Midtown East. Lloyd Goldman BLD Management is investing in its first local ground-up residential design. It will contain a 429-unit Summit rental located at 222 East 44th Street. It’s design will come from Handel Architects with interiors made by Escobar Design. The apartments will come furnished with a library lounge with a pool table, racquetball and basketball courts and a lap pool. Rents range from the $3000s. For inquiry about the spaces contact Douglas Elliman Development Marketing, 212-222-4344.
Many of the new spaces come from buildings with water front views.
Brooklyn, a growing and expanding real estate market on its waters focuses on Greenpoint’s Landing’s One Blue Slip. It is where a remarkable 90 percent of the buildings 359 apartments have views of the East River facing Manhattan. Rentals begin at $2,600. The development contains 1.5 acres of public waterfront space, along with a bar with a terrace (contact: Douglas Elliman Development Marketing, 718-395-4782).
New York city has a reputation for concrete skyscrapers and not a lot of forest greenery unless you’re talking about Central Park or Brooklyn’s Prospect Park, however there are some green spaces. Tishman Speyer’s condo conceived by Hollander Design launched in September on 11 Hoyt Street in Downtown Brooklyn. It features nearly 27,000 square-foot private park perched above street levels and studios can be acquired beginning at $600,000s.
Living at Corte in Long Island City, 21-30 44th Drive, will get a courtyard that opens directly to shared lounge. The price for the condos range in the mid $500,000s. The lush space which is enclosed in glass, features artwork and is distinguished by a tree.
Over the last five years, Bedford-Stuyvesant has grown from one of the most dangerous neighborhoods to one of the most sought after by people looking to rent or buy space. Relative to the rest of Brooklyn and of course Manhattan, it still remains an inexpensive alternative. One place is the 57-unit 1328 Fulton Street rental which goes form $1,750 on up. It contains a living green wall in its lobby which doubles as a lounge both a point of focus and a cool backdrop where tenants can take advantage of lounge space where tenants can interact and mingle with one another.
All in all, New York City, its outer boroughs along with its new designs are transforming real estate like it never has before. New York city with all its traditional real estate remains simultaneously on the cutting edge.
By: Remy Farquar
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