New York City Real Estate

1. New York City Real Estate As more and more condominiums and apartment buildings are developed in NYC, one thing is clear to all looking for trends in the real estate market: renters are demanding the best of the best. Concierge service, rooftop decks, private fitness centers, children's playrooms, views of Central Park, and quick access to all of the best shopping. Whether you are looking in Brooklyn, the Bronx, Queens, Midtown, the Upper West Side, Upper East Side, SoHo, Chelsea, Hell's Kitchen, or anywhere from Manhattan to Long Island, you are going to see this trend very clearly with what new construction properties are offering in order to attract tenants. The spend on amenities and appointments is rapidly increasing as developers strive to beat their competition and offer residents the premier living experience that cannot be beat. This is a tall task, but certainly one that one would expect New Yorkers to tackle with clever and imaginative solutions. With the global covid pandemic pushing New Yorkers across the state to spend more time indoors, it only makes sense that homeowners and renters would want to make their space as comfortable and luxurious as possible since there is no telling how long it will have to serve as both their home base and as their office. A few of the neighborhoods that we will talk about today and what they are offering residents include Midtown, the Upper West Side, Upper East Side, and we will finish off with Manhattan real estate as a whole. Midtown Mania Midtown Manhattan is currently a hot neighborhood, with one bedroom and two bedroom condominiums selling like hot cakes. The Midtown area is one of the more expensive areas to live in Manhattan currently, and places its residents nearby many well-known New York City landmarks in addition to plenty of fantastic dining options, public transportation (as well as plentiful taxi cabs and private parking), and lots of entertainment options. Grand Central Station is just a short distance away, offering quick and direct transportation all around New York state, and even out of state if you need to make a work trip or weekend visit to New Jersey, Pennsylvania, or Long Island. From visiting the Empire State Building to spending an afternoon in the historic Bryant Park, Midtown offers countless opportunities to occupy your time and never run out of places to visit and explore. Times Square is only a short cab away from any condominium or apartment in Midtown, as well as Rockefeller Center which is a great stop for anyone looking for a great time. The Top of the Rock experience -- going to the roof of 30 Rockefeller Plaza and looking out over the beautiful Midtown Manhattan -- is

2. a must do for all new residents of the area as well as every tourist who is visiting the city. Upper West Side Co-ops and Cocktails The Upper West Side neighborhood here in New York is currently known for its luxury high-rise condo co-ops that are highly exclusive and difficult to get into. The soaring heights of these buildings go hand and hand with the soaring prices of these luxurious one bedroom, two bedroom, and penthouse condominiums with views of Central Park. Not only does the Upper West Side have some of the most exclusive condo co-ops in Manhattan, but it is also home to most of the westward frontage of Central Park, The Lincoln Center for the Performing Arts, and the American Museum of Natural History. With plenty of stops like these to keep you busy during the day and afternoon, what is there to do in the evenings? Fret not! Because the Upper West Side is known to be home to some of New York City's most notorious (in a good way, I promise) night clubs and cocktail lounges to stop for a delicious drink after watching a performance at the Lincoln Center or Broadway, or going out to dinner at Leonti or Awadh. Upper East Side This extravagant neighborhood is known to even those outside of NYC for its Central Park apartments, "museum mile" as featured in Ben Stiller's Night at the Museum with a whole street lined with museums for patrons to enjoy, and a large stretch of Fifth Avenue that is host to some of the best shopping in the world. The world's rich and and powerful visit the Upper East side in search of world-class luxury with no concern for transfer taxes, property taxes, or common charges. The price range of condos here in the Upper East Side averages between $1.1 million and $1.28 million with an average price per square foot of more than $1,300. Manhattan Real Estate Market As a whole, the Manhattan real estate market is one of if not the strongest in New York State. Thanks to the Real Estate Board of New York (REBNY) along with all of the realty companies in the state adapting to covid regulations, real estate professionals have found ways to keep the industry going and get people in condominiums and apartments. Through offering excited new buyers and renters opportunities to tour properties remotely and digitally via virtual platforms such as Zoom, Skype, FaceTime, and Facebook Messenger Video in order to prevent the spread of covid while still

3. signing contracts, developers are seeing that there is still a demand for these luxurious condominiums in NYC. Renters and agents alike are adapting and overcoming as new developments along the Hudson River such as the Hudson Yards offer revolutionary living and entertainment experiences without having to be potentially exposed to covid. Manhattan has always been and continues to be a dominant player in terms of global real estate. For buyers and renters of all things luxury -- from single family homes farther back in time to the towering skyscrapers with unmatchable views from eight- figure price tag penthouse condos and apartments of today -- Manhattan is the pulsing heart of the luxury space. Globally, eyes are on condominium developers here such as Extell, SK Development, CB Developers, Ironstate Development, JDS Development Group, and Brookfield to determine what the next course of action is within the real estate realm. To wrap everything up, the city of New York is still a very strong market for luxury real estate, and now more than ever, buyers and renters are finding that to be true with the inventory available to choose from in areas such as Midtown, the Upper West Side, the Upper East Side, and everywhere in between. When you are ready to find your next New York condominium, be sure to locate and reach out to your favorite local real estate professional.