fbpx

Category: Luxury Real Estate

How to buy a brand new apartment in Brooklyn?

Buying a brand new apartment in Brooklyn is an amazing and rewarding experience to be had by buyers of all backgrounds and lifestyles. Brooklyn is a city filled with life, color, and culture that shows in nearly every neighborhood and part of the city.

While searching for an apartment to buy and going through the process can be time-consuming, it can be made easy by understanding your budget, each neighborhood, and the overall steps to buying a brand new apartment in Brooklyn. When looking for a space in Brooklyn to call your own, BARNES New York is here to help guide you.

What is your budget?

View of the NYC skyline at the back, with the Brooklyn skyline in front, during sunset.

How much are you willing to spend on your apartment? In Brooklyn, the median sale price of an apartment market-wide, including resale and new developments, is around $980,000 as of July 2022*. When considering brand new apartments in new developments in Brooklyn, the median sale price increases to $1,200,000 in July 2022*. Like other New York neighborhoods, co-op apartments are often cheaper than condominiums, but it’s fairly rare to find a brand new co-op building. In general, homes in a new development in Brooklyn will cost more than existing resale. Important tip: it is best to save about 20% of the cost of the apartment before buying, if possible. This gives you plenty of wiggle room when looking for a brand new apartment to buy and greatly strengthens your offer.

Having a reasonable budget of $1,000,000 or more will ensure you find new apartments and condos for sale in Brooklyn that will meet your needs. But, of course, prices also go up with more accommodations, features, and luxuries available. Depending on what you’re looking for, set yourself a limit to finding hidden gems in your home and avoid overspending. It’s best to talk to your banker or mortgage broker to request a pre-approval letter to help you pinpoint your budget.

*Market data from UrbanDigs

What about location?

The price of the apartment you buy in Brooklyn can vary greatly depending on the neighborhood it is located in. While areas such as Williamsburg and Dumbo tend to be more expensive, Greenpoint and Carroll Gardens can be much cheaper options.

Williamsburg

Williamsburg is one of the trendiest area in Brooklyn, filled with bars, restaurants, and retail stores, feeling much like a giant city within an even bigger city. An apartment in Williamsburg is ideal for Manhattan Bridge views, easy access to luxury shops, and a comfortable residential feel. Although there are also plenty of work opportunities in Williamsburg, it is great for many residents to settle in as well. There’s always an new apartment to buy in Williamsburg thanks to several solid new development programs.

Dumbo

Dumbo is priced similarly to Williamsburg, emerging as a hotspot in recent years as former industrial spaces are converted to cozy residential homes. However, the price is worth it, as it is filled with lovely streets lined with vintage shops and unique pieces, and it’s a popular spot for older groups. Several new development programs offer beautiful housing options in the neighborhood. Whether you are buying a new condo or co-op in Brooklyn, Dumbo’s vision is sure to make it a stunning home.

Greenpoint

Greenpoint is a great area to settle in as there’s less hustle and bustle than Williamsburg, which is just south of it. The area has many beautiful brownstone apartments and is home to a large Polish community. The food at Greenpoint is excellent and varied, so it’s great for people of almost every culture, especially Europeans. New buildings in the area offer brand new condos with good amenities and easy access to the subway.

Carroll Gardens

Carroll Gardens offers a small selection of brand new apartments, but provides a small-town feel from within Brooklyn’s big city, and even though it is smaller than many other neighborhoods in Brooklyn, the close-knit community can make any newcomers feel welcomed. An apartment in Carroll Gardens is not only beautiful, but it is also great for those who are looking for a quiet house in a smaller neighborhood.

What is the buying process like?

As a potential buyer who wants to buy a brand new apartment in Brooklyn, you should work with an experienced buyer’s agent. By working with a buyer’s agent, you can save money by helping you find great deals on apartments, working with your best interests in mind, and help you navigate the different neighborhoods in the city, especially with agents specialized in new constructions in Brooklyn and its different areas.

In addition, it is important to prepare documents for your offer and to find a real estate attorney. Once the offer is accepted, your attorney will review the offering plan before you enter a purchase contract.

Because it can be difficult to get a mortgage on a new development, you might want to consider working with the “preferred lender” for the building, who is usually familiar with the construction and able to give loans more easily. Start building requests as soon as possible to stay on top of additional messages and information while staying organized with important information.

How do I secure the apartment I want?

Once the offer is accepted for your Brooklyn apartment, you can begin the process of closing on your new home. After signing off, your brand new apartment in Brooklyn, New York, is now completely yours!

The process usually takes about up to 2 months for condos and up to 3 months for co-ops for resale, but for brand new homes and buying off the floor plan, the timeline can greatly vary, especially when some apartments are being sold before the construction even begins! If possible, provide documents such as IDs, tax returns, and other important records to be as thorough as possible. Buying an new apartment in Brooklyn can be a long but highly rewarding process, and having these resources available will help streamline it. Owning a home in a beautiful city filled with color, friendliness, and diversity is a huge step forward in life. Contact BARNES New York to start looking for your brand new apartment in Brooklyn!

Contact Us

What kind of housing and properties are available in Westchester?

Westchester County, located immediately north of New York City, has been an increasingly desirable place to live. More than ever, the lure of living outside the heart of New York City has grown, and interested buyers are turning their attention to the surrounding areas. According to a report by the New York City Comptroller, the population in Westchester has risen more than 9% since the start of 2020.

Westchester County is perfect for those who want to be close to one of the greatest cities in the world without being right there in the thick of it. Many of the houses in Westchester are under 30 minutes away from Manhattan by car or under one hour by train, making commuting and staying in touch with the New York City scene extremely easy.

Plus, Westchester offers a wide array of living options, from luxury apartments to homes to villas, and pockets of its cities even offer affordable housing programs. There’s a little something for everyone in Westchester.

What comprises Westchester County?

There are 6 cities, 19 towns, and 23 villages throughout Westchester County. The county is the second most populated county in New York (the first is Bronx County). But if you exclude New York City, Westchester becomes the most populated. The county has an area of 450 square miles, roughly the size of Rhode Island.

What are Westchester’s cities like?

Westchester’s 6 cities are Peekskill, White Plains, Mount Vernon, Port Chester, New Rochelle, and Yonkers. Peekskill is located at the northwesternmost tip of the county along the Hudson River. White Plains and Mount Vernon are located inland, whereas Port Chester, New Rochelle, and Yonkers are located along the eastern shoreline of the county.

What kind of property is available in Peekskill?

Peekskill has a plethora of living options and is home to some of the best villas in Westchester. Homes here typically range from $250,000, on the low end, to $1 million on the high end. Most homes offer multiple bedrooms as well as two or more bathrooms.

Its villas, which are expansive and often riverside, typically fall under the $300,000 price tag and similarly include multiple beds and baths. However, some villas are offering less space for cheaper.

There are no shortages of luxury apartments in Peekskill. Most are strategically placed so that each room offers picturesque views of the Hudson or one of the area’s surrounding parks.

What is Peekskill like?

Peekskill is just under 50 miles north of New York City. It takes around an hour, by car or train, to reach Grand Central Station in Manhattan.

Peekskill is heavily invested in its art scene and is where many of New York’s artists live. It is home to a thriving performing arts center and several attractive nature parks, historical sites, and museums. There is a diverse array of restaurants in the city as well as a Farmers Market located in Peekskill’s beautiful downtown.

What kind of property is available in White Plains and Mount Vernon?

Larchmont Aerial Drone Photos of Marina and Premium Point

White Plains offers a more suburban feel despite being just 33 minutes away from New York City by train. As a result, it has a wide array of homes priced from around $500,000 on the low end to over a million on the high end, all of which typically yield multiple beds and baths. White Plains also offers luxury apartments in its downtown high rises.

Mount Vernon is the southernmost city of Westchester and touches New York City’s Bronx borough. Being so close to the city, homes can easily surpass $1 million, and the travel time to New York City’s Grand Central Station is under 30 minutes by car or train. As a result, there is a spattering of luxury homes and apartments in Mount Vernon.

What are White Plains and Mount Vernon like?

White Plains ranks among the best suburbs of New York. It has a strong downtown scene, small neighborhoods, and its own thriving economy. Over 100 businesses have their headquarters in White Plains, and because of that, the suburb is ever-growing. As a result, there is always something going on in White Plains, from performing arts to museums to nature parks to recreational activities like golf, blading, or kayaking.

Despite being in Westchester County, Mount Vernon has a strong New York City feel to it. It is one of the county’s most diverse cities and offers an array of restaurants, shops, and parks that support that diversity. Its homes will be more compact than Westchester’s other cities, but that is to be expected given its proximity to New York City.

What kind of property is available in New Rochelle, Larchmont, and Yonkers?

New Rochelle and Larchmont are located along the eastern shoreline of Westchester County, and their housing options range from $300,000 on the low end to over $5 million on the high end. Condominiums can fall under $150,000 in either city. They also offer waterside and luxury villas.

Yonkers is located on the western side of Westchester along the Hudson River. It offers villas and luxury apartments/condominiums. Its housing options range from $400,000 on the low end to over $1 million on the high end.

What are New Rochelle, Larchmont, and Yonkers like?

Yonkers began as an industrial extension of New York City but has since been transformed into its own thriving community. The developers kept the city’s history intact, and many of its living options are in newly-renovated historical buildings. The city has a wide array of culturally-diverse restaurants and shops in its booming downtown, as well as a host of walkable parks.

New Rochelle and Larchmont border each other, and both are chock full of everything water-related. Between the two cities, they share sailing schools, yacht clubs, and rowing clubs, plus play host to sprawling nature preserves, top-rated museums, and fun beer gardens. Each city has its own downtown and offers everything you need, so you don’t need to make the trip to New York City if you don’t want to.

What other property is out there?

There are over 1,000 Westchester homes for sale throughout the county’s 450 square mile area. Plus, there are an array of villas and luxury apartments in Westchester, NY, which means there is bound to be something for everyone.

Westchester is a growing and thriving county just north of New York City that offers all of the same conveniences while stretching your money. Its properties yield more land, bigger homes, and a quieter lifestyle all while remaining easily accessible to the heart of New York City.

Read more on Westchester’s real estate and let BARNES guide you to the right house, villa, or luxury apartment in Westchester, NY.

Contact Us

Pied à Terre: A Home Away From Home – Redfin

BARNES New York was recently featured in Redfin article “Pied à Terre: A Home Away From Home”. A pied à terre is a luxury apartment or condo in a big city that someone uses as their second home. People generally invest in pieds à terre for convenience, proximity to work, to visit a particular city, or as a home away from home.

There are many advantages to owning a Pied à Terre, especially in New York City, the city that never sleeps. Read on to learn about where you can find pieds à terre and how you can choose one that makes the most sense for you.

READ THE ARTICLE

BARNES Magazine n°31 is hot off the press

The BARNES Spring-Summer 2022 magazine is hot off the press, featuring Corinne Mentzelopoulos, French-Greek businesswoman who owns and runs the prestigious Bordeaux wine estate, Château Margaux. She did BARNES the honor of giving a tour of her magnificent vineyard, surrounded by two of her children, Alexandra and Alexis, who have also joined the family venture.

Learn about the story of Christofle, a renowned silversmith and tableware company, who revolutionized culinary arts, introducing new innovations and revolutionary techniques. You’ll be able to learn more about architecture and interior design with the launch of the new BARNES department, BARNES Interiors.

Discover a selection of Art, wine, top holiday destinations and the latest about fashion. Browse through a selection of our most exceptional properties in international cities, France, as well as destinations on the countryside, seaside and mountainous regions. Click on the link to access the online version of the magazine:

Read more

Why is Westchester county attracting more and more French families?

Read the article in FrenchMorning

Do you want to buy a property in New York, but the prices of the goods you are interested in quickly become unaffordable? Want to make more room for your family? Have you considered Westchester county? This county, just north of New York, is attracting more and more French people and offers a very pleasant living environment. French Morning spoke with Yann Rousseau, director of the BARNES Westchester agency, a subsidiary of BARNES New York.

Read the article

BARNES Global Property Handbook 2022

During the health crisis, acquisitions continue! Everyone had to adapt during those two years and the wealthiest did the same. In a context of faster than expected economic recovery, the ranking of major international cities has once again been turned upside down. The BARNES Global Property Handbook, published once a year, dives deep inside the global real estate markets and the last edition is fresh off the press, showing promising results for cities like Miami, Austin, Tokyo, Geneva and Paris, making up the Top 5 of the BARNES City Index, a mix of safe bets and bets on economic attractiveness.

«In 2022, the BARNES City Index has never been so varied,highlighting meteoric rises like Madrid, Moscow and Prague, but also traditional safe bets like London, New York and Tokyo. The reflection of the changes caused by the health crisis and especially the ability of the great fortunes to adapt», comments Thibault de Saint Vincent, President of BARNES.

At the top of the ranking appear five cities that haveconvinced investors both for their attractiveness and their fundamentals: Miami, already surprised by the Top 2020 where it was 4th, takes 1st place, followed by Austin which jumps from 24th to 2nd place. Tokyo remains good third, followed by Geneva which progresses from 8th to 4th place and Paris, rising from 7th to 5th place. The United States are therefore taking the lion’s share due to rapid economic developments, while Japan and Europe, the «Old Wave», are managing to reinvent themselves.

«Old Europe is regaining its former status, with five cities in the Top 10 (Geneva, Paris, London, Madrid, Stockholm), testifying to a return to the traditional safe values that were, before the health crisis, the great regulars of the BARNES City Index,» explains Thibault de Saint Vincent. The same is true for New York and Toronto, which are also making a comeback. 

Read the BARNES Global Property Handbook 2022 online

Luxury real estate in New York is still strong

Article courtesy of Challenges.fr

BARNES New York had the opportunity of giving a short market update for French-language weekly business magazine Challenges.fr

The high-end real estate market is back in New York. The supply of properties for sale could even still increase thanks to offices being turned into residential housing. While the United States has just reopened its borders to foreigners and international tourists back in November, workers are busy renovating the One Wall Street building. Located in the heart of Manhattan’s Financial District, at the corner of Broadway and Wall Street and opposite Trinity Church, this historic 56-story Art Deco building, which rises to nearly 200 meters in height, built between 1929 and 1931 for the Irving Trust Company and then occupied by the Bank of New York, is the largest office-to-residential conversion project in New York City’s history.

This 90-year-old building will yield 566 new units ranging from studios to four-bedroom apartments and a single penthouse. Residents will benefit from access to the on-site amenities, including a state-of-the-art athletic club complete with a 75-ft enclosed pool, event and entertainment space, and spa services – all with clear views of the Statue of Liberty and New York Harbor.

The project, scheduled for delivery next year, could have turned into a fiasco with the Covid-19 epidemic and the uncertainties surrounding the future of real estate market. But the demand has returned and prices are close to their pre-pandemic levels. But the client’s requirements and needs have changed. Young couple and families with children are looking at neighborhoods offering open and green spaces and a better quality of life.

In terms of price, in new buildings, prices reach 17,000 euros per m² in the Dumbo district of Brooklyn, one of the most popular, and “climb to 19,000 euros per m² in TriBeCa, 20,000 euros per m² in the Upper East Side, 22,000 euros per m² in the Upper West Side and 25,000 euros per m² in Hudson Yards, compared to 11,000 to 19,000 euros per m² in the former, depending on the sector”, indicates Yann Rousseau, Managing Partner at BARNES New York.

Read the article

Rightmove’s most-viewed international property listings of 2021

Rightmove, or rightmove.co.uk, is the UK’s largest online real estate portal and property website, allowing users to discover more than 1 million property in the UK and abroad on their large property marketplace.

Rightmove has shared which international homes attracted the most interest online, and along properties in highly coveted California, France and Portugal, BARNES New York’s property made it to the fourth position, with its incredible castle in the sky at 515 Park Avenue. Located just a few steps from Central Park, this extraordinary mansion combines over 2,000 sq. ft. of spectacular terraces overlooking Park Avenue with 6,000 sq. ft. of magnificent interiors in this enormous mint-condition duplex, including 7 bedrooms, 7 bathrooms, and a separate studio, in a premier full-service condominium building.

Read the article

What should you know about luxury real estate in New York?

By Annie Newman

New York City is one of the most unique places in the world. The bustling economy, the award winning theatres, the big city lights and skyline, the top rated fashion industry and the luxury real estate market are all part of the exciting glamor of the Big Apple. Every big city in the world can include luxury real estate but New York takes it to a whole new level. It boasts apartments and condos that are so elevated within the skyscrapers, that some of them can feel like one is living in the clouds. The high value pricing for New York residences is above the national average, and for good reason, since owning or renting a luxury home there is considered quite prestigious.

Why is the cost of living in New York higher than average?

Buyers can own a home in cities across the United States for reasonable prices but a few American cities such as Los Angeles, San Francisco, Miami and New York can dazzle its residents and tourists with a magic touch as these cities offer a lifestyle that cannot be found just anywhere. It’s not every day in smaller towns that one can experience the lively financial, social and cultural way of life that a big metropolis like New York has to offer. It is no wonder that luxury apartments in NYC are in high demand and their incredible views of Manhattan are even priceless. In New York, there is such a variety of neighborhoods and lifestyle options that choosing a place to call one’s home can be a fascinating journey. One has to choose the right neighborhood, the right location and the type of housing that is appropriate. Luxury apartments in NYC are surrounded by charm, history, and a sense of liveliness that is rare to find in most towns nationwide. For example, a New York penthouse can be so much more alluring for buyers that a penthouse in other cities, because they usually offer views that are breathtaking of the big city and are usually found in very high towers that offer far reaching views. Many celebrities or business owners who own homes in other American cities often choose to purchase a second home in New York as it is a source of pride to own a piece of real estate in one of the most attractive places in the world. Those who live there year round feel a great sense of fulfillment to be able to enjoy on a daily basis the bustling life that New York has to offer.

Luxury real estate outside of Manhattan

For those who want to be close to Manhattan but prefer a more serene and suburban lifestyle, there are many boroughs outside of New York City that offer exclusive luxury homes and townhouses for sale across a wide area surrounding the big city. The New York real estate prices vary depending on the areas but usually the condos for sale outside of Manhattan are less expensive than in the City itself. Yet, bigger houses in the suburbs can actually be more expensive than apartments in Manhattan because they are quite large and have more land. New York is a very populated city and therefore choosing a home outside the region can offer more of a spacious and comfortable lifestyle.

Types of luxury real estate in New York

New York is a city that has a long history and therefore many buildings and homes were built quite a long time ago. The people who invest in those types of constructions can be surprised to see them listed as luxury properties because of the date in which they were built, but a lot of them have been completely renovated and revived. They are considered luxurious due to the location in NYC as well as the fact that they are built with more space than newer condos or apartments in the City. The other type of luxury residences in New York are the brand new constructions, or new developments, often found in high rises that offer spectacular views and modern amenities. They are well located and are prestigious to live in. They usually have a 24 hour doorman and maybe even a gym or pool. Yet, they are often built much smaller since developers or sponsors want to maximize the expensive land they purchased in New York. Every square foot of space in a city like New York is very precious and often has many people bidding for the same properties. It is one of the reasons why Manhattan is known as a ‘concrete jungle.’ Whenever new land becomes available for building, investors prefer to build high rise buildings instead of parks or green areas to increase revenue. Renting or owning a luxury home in New York is not to be taken for granted as it is a very special opportunity.

Expensive neighborhoods in New York

Hudson Yards, TriBeCa, SoHo, Upper East Side, Central Park, Cobble Hill, DUMBO, Park Slope, Williamsburg and Carroll Gardens, to mention a few, are some of the most expensive neighborhoods in New York City. Some of these are in Brooklyn, while others are in Manhattan. Manhattan is the most expensive of all as it is the heart of New York City and State for economic, cultural and social development. Other boroughs can also be expensive due to their proximity to New York City but can be more affordable than Manhattan itself. They can also include larger properties. Whether you are looking to buy or rent in the New York area, you will be spoiled with a wide variety of luxury properties to choose from in and around the big city.

BARNES New York is the quintessence of luxury real estate in the City and offers its services related to sales, rentals and property management for your real estate projects. Its international clientele and worldwide reputation brings you the most exclusive properties and our team of experts is at your disposal to accompany you in reaching your investment goals in New York.

BARNES International brings the French “Art of Living” to the US

Read the article here

BARNES International is expanding, after being present in the U.S. for more than a decade. With offices in New York and Miami, BARNES is on its way to open a brand new agency in Larchmont, north of New York City.

BARNES, a major player in high-end residential real estate and an ambassador of ‘Art of Living’, supports its clients with all aspects of their lifestyle ambitions. Discover one of the world’s most recognized and trusted International Luxury Real Estate Group, established in the entire New York area, with a prominent presence in Westchester and the Hamptons, as well as Miami. Eventually, BARNES goal will be to expand in the Hamptons and Greenwich, Connecticut.

Established with over 100 offices in about 20 countries, including major international cities and top holiday destinations, BARNES offers an exclusive selection of premium properties in Europe, the US, the Middle-East, the Indian Ocean and the Caribbean. From high-end hotels worldwide, landmarked castles, equestrian properties, vineyards in France’s top winemaking districts and art collections, BARNES offers a wide range of custom services that will suit the client’s specific need. With a truly international team, we welcome all clients and accommodate them in their native language as much as possible.

The brand provides its clients with global expertise through both consulting services in investment arbitration for international real estate and tailored local support, assisting you in any of your endeavors.

Read the article here
WhatsApp
en_USEnglish
fr_FRFrench pt_BRPortuguese es_ESSpanish ru_RURussian elGreek it_ITItalian he_ILHebrew nb_NONorwegian en_USEnglish