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Category: Luxury Real Estate

How can BARNES New York help you in your real estate journey?

There are hundreds, if not thousands of real estate brokers in Manhattan alone. When looking at the entire state of New York, there are endless real estate broker choices. When investing in a new home, ensure you choose the right real estate broker for you.

That’s why BARNES New York can help you. BARNES offers expert brokers throughout New York to help you find your dream home.

This guide details why BARNES is one of New York’s top real estate broker. 

Where can BARNES New York help me find a property? 

BARNES can help people find property all over the state of New York. While Manhattan is a main focus because it has the most amount of buyers, there are several other places around the state where BARNES can show you some amazing properties.

Here are the main focus areas: 

  • Manhattan. Let BARNES help you find your new home or apartment in TriBeCa, Lower Manhattan, Midtown, Union Square, Greenwich Village, SoHo, Chinatown, The Lower East Side, and many other places! Just let us know the type of property you’re looking for and your budget.  
  • Brooklyn. Brooklyn is more than just Brooklyn’s downtown itself. You can also find some great apartments and homes in Williamsburg, Dumbo, Brooklyn, Heights, Park Slope, and several other places depending on what amenities you want to be close to.  
  • Queens. Queens is a great place in the state for those who want to be a little outside the city while staying a short distance from Manhattan. You can get a great place in Long Island City, Astoria, or Sunnyside.  
  • The Hamptons. While many people just have their summer home in the Hamptons, there are also other people that are looking to live here full-time. No matter what’s bringing you to the Hamptons, BARNES can help you find great real estate in the area.   
  • Westchester. If you’re looking for a little bit of a less stressful life, Westchester is the area for you. There are many cities in this area that are quickly growing, which means you can find many of the same amenities that you would in New York City while enjoying more space.
  • Connecticut. Connecticut, often referred to as the “Constitution State,” is a small, picturesque state in the northeastern suburbs of New York City, known for its rich history and scenic New England landscapes, offers a quiet and green environment to get away from urban living.

While we cover a wide range, our experts specialize in specific areas, ensuring you work with a knowledgeable professional in your desired location.  

Where should I buy a property with BARNES New York? 

BARNES New York is always working in the strongest real estate markets in the state. With a strong team of experts, we help our clients find the best places for sale in the market.  

Working all over the state, BARNES New York is able to help you buy or rent property virtually anywhere you want.  

If you aren’t sure where you want to live, you can let us know what kind of environment you are searching for and we can advise you on an area we think is best for your needs.

If you want something new that no one else knows about, BARNES is always ahead of the game knowing where all the new developments are located.  

What if I’m looking for something other than an apartment or home? 

Some luxury real estate companies only focus on apartments or homes. While this works fine for some clients and brokers, there are many people all over New York that are searching for more than just a home or apartment.  

This is where BARNES comes in!  

If you’re searching for a huge investment like a castle property in the countryside, BARNES specializes in selling famous chateaus all over the world.

Get ready to step back in time and find one of these historical and luxury castle properties. You’ll feel like you’re in a fairytale. Most of the castle properties are in the French regions. So, although you’re getting out of the state of New York, BARNES can still help their clients find properties all over the world.  

Here are some of the other great things BARNES real estate brokers and salespersons can help you find both in New York and all over the world: 

  • Vineyards. BARNES real estate brokers are experts in both finance and wine when it comes to finding you the perfect vineyard. Their portfolio for the wine industry is extensive. Even if you are in the wine industry, BARNES can help you find the perfect place to begin your business.  
  • Yachting. Some people just use yachts for their vacation time, but there are others that enjoy living on their yachts full-time. BARNES has over 30 years of experience finding people yachts as well as helping you get space to service and keep your yacht all over the world.  
  • Art Advisory. Art advisory is a professional service that assists clients in buying, managing, and appreciating art. It includes art acquisition, market research, collection management, diversification, investment advice, negotiation, auction representation, market insights, curatorial services, and appraisals/authentication. Art advisors help clients navigate the art world and make informed decisions.
  • Business Jets. BARNES helps you fly to any destination on a private jet for your convenience, whenever and wherever you want!

Can BARNES New York help me manage my property?

Yes. Our specific property management department, BARNES International Management (BIM), can help you with real estate assets and property management. We offer quality property management and on demand services to all owners and investors owning a property as secondary home or residential investment in the New York and Miami area, with on site, trusted contact.

What if I want to sell or rent?

BARNES does not just focus on helping people who buy properties. We can also help those that are more interested in selling or renting. Not everyone wants to buy property in New York, so many of our experts just focus on renting to those that are looking to only stay in the state for a short while and who want to test out a few neighborhoods before settling down.

Buying is a big commitment, so if you prefer renting to test the neighborhood’s suitability for long-term living, we will gladly assist you.

Why should I choose BARNES New York to sell my property?

If you want to sell your beloved home or property, you will need to find a great listing broker. Look no further than BARNES. New York has tons of brokers to choose from when it comes to putting your home on the market. You should ensure a broker understands your home’s value to secure the deserved selling price. 

BARNES excels as New York’s top real estate broker by providing meticulous care to any sale properties.

BARNES New York can help ensure you get an amazing sales associate to make the selling plan unique to your property. With this custom approach, you will find that your property gets countless interested buyers willing to give you the price you are asking for.  

Our real estate salespersons have a personalized approach to selling that includes: 

  • Exposure to Multiple Listing Services so that everyone gets a detailed description of the property 
  • Folder for presenting the property to the interested audience members  
  • All properties are featured on the BARNES international website and therefore also get exposure in places like the New York Times and Trulia 
  • Publication in the BARNES Magazine, distributed internationally in more than 180,000 copies
  • Property featured in the BARNES newsletters which has more than 50,000 readers and in dedicated local databases

With these personalized approaches, BARNES New York will help you sell your property with care and trust.

Can BARNES New York help me find new developments?  

If you are undergoing an acquisition project in a new development, you will need to find a broker to help you with your primary residence, secondary residence, or rental investments in a new development.

Finding the best developers can be challenging, but BARNES New York has access to top developers, ensuring you’re in good hands.

Hiring a broker is especially important for the developing process because they are better able to negotiate for you. They can get the best purchase price and carrying costs for you.  

Finding a brand-new apartment in a new development building in New York has many different benefits. Hiring a broker can maximize your profits with their deep knowledge of New York’s real estate markets.

Here are some of the benefits BARNES can offer you when searching for new developments in New York:

  • Finding you the best rental potential and opportunities for resell  
  • Best materials and the best chances for energy efficiency so your utility bills are on the low side  
  • Discounts from the purchase price as well as negotiation from the purchase price, carrying costs, and transaction fees  

Summary

It is hard to find the top real estate broker in New York. Whether renting, selling, or buying, BARNES associates and brokers have the expertise you need!

But we also offer more than just homes and apartments. We offer a wide panel of investment properties, vineyards, and castle properties, as well as yachting and art advisory services.

Contact us today for a consultation. We would be happy to find you the best home or apartment. Let us help you today! 

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Why should you buy an apartment in Astoria?

If you are looking for a place to call home in New York City, there may be one neighborhood to consider. Astoria is a neighborhood located in Queens. What makes it so popular is that it has a blend of city life and small town charm. 

If you are looking for houses for sale in Queens, the Astoria real estate market may have something in store for you. After all, you’re in one of the most culturally diverse boroughs in the entire city. You might even find yourself spending more time here than in Manhattan or any of the other boroughs. 

Let’s take a look at some of the reasons why you should buy an apartment in Astoria right now. 

It’s close to Manhattan 

If you work in Manhattan, you’re going to enjoy a short commute. Thus, it would make a ton of sense to live in Astoria. You’ll be close to several major highways and subway stations. 

With a robust transportation system, you can easily get around any corner of the city. You don’t have to have a car to get around. You’ll be surprised how much ground you can cover just by being in New York City alone. 

Buses and subways are any New Yorker’s best friend. It might be yours even if you move to Astoria.  

There are plenty of housing options 

If you are looking for housing options, Astoria has quite a few. You can buy a condo in Astoria if you are looking for something that is a bit upscale and something you can call your own. 

Otherwise, consider the idea to buy a co-op in Astoria. A co-op is similar to condos. The only difference is that you own shares in the company that owns the entire building. You need to follow the rules and regulations set by the co-op board. You’ll find a home that will fit your critical needs and preferences. Whether it’s a one-bedroom apartment or a single-family home, you can find something in Astoria that will match your affordability. 

One thing to keep in mind is the home prices. The home value in Queens is around $620,000 as of October 2023.* 

*Data issued from OLR

You are closer to air travel than ever 

Queens is the home base for LaGuardia and John F. Kennedy International Airport. If you are looking to hop on a domestic flight, LaGuardia has plenty of them (as does JFK). However, if you are a bit of the world traveler type, Kennedy is the go-to option.

You might even consider traveling to Newark if you think you can get a good deal on flights departing from there. Otherwise, you won’t be far from a jet that you can take off in. From your front door, you can go just about anywhere in Astoria. 

Summary

Astoria may be one of the most popular neighborhoods in Queens and for good reason. With its close proximity to Manhattan and diverse culture, you’d be hard-pressed to find a neighborhood that you can be proud to live in. 

Do you want to buy an apartment in Astoria? It’s easy – just contact a real estate agent who can be able to help. Contact us today and we’ll be able to find you a place that you can call home for years to come. 

Don’t miss your chance to live in one of the best neighborhoods in New York City.  

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Where to buy a brand new apartment in Manhattan? 

New York City is home to more than 8 million people and it’s definitely one of the most exciting and attractive places on Earth. From entertainment to business to travel and so much more, New York City is the center of it all. And Manhattan is the center of New York City, meaning it’s the most popular and important part of the most popular and important city in the country.  

Manhattan has it all. Some of the best restaurants in the world, a number of terrific entertainment venues, amazingly historic apartments, townhouses, and homes of all types, and so much more. If you want to have your finger on the pulse of the nation and culture, you should be living in this borough, where you have the opportunity to buy a brand new apartment in Manhattan. 

But if you want to plant your flag in this specific spot in New York, you need to know a few things. You need to be aware of how much you’re going to pay, and you’ll definitely need to be aware of what part of Manhattan you want to reside in. Then and only then you will be able to truly start making plans and getting comfortable with the idea of living in Manhattan. 

Buying a brand new apartment in Manhattan can be a tricky process, especially if you want to get a 2023 New Dev Manhattan residence. Our guide will help you learn a few important things that you should have in mind before you make the major move. 

How much does it cost to live in Manhattan? 

Since it is one of the most sought-after parts of New York City, you can bet that buying a brand new apartment in Manhattan won’t be cheap. No matter the state of the economy, people are always flocking to Manhattan looking for new apartments to claim. 

The median sales price for New Developments in Manhattan is $1.9 million, with a price per square foot of $1,999 as of September 2023*. That is considerably more expensive than many other parts of the country, of course, but it’s well worth it for a number of reasons. In fact, people are willing to spend much more than that just to make Manhattan their home, in a brand new building.

*Data from UrbanDigs

Why Move to Manhattan?

There are so many great reasons why moving to Manhattan makes sense for millions, including the opportunity to buy a brand new apartment in Manhattan. For many, the location is ideal because of its proximity to the heart of the business world. For decades now, Manhattan has been an industrial powerhouse and many Fortune 500 companies have locations in Manhattan. 

Other people want to stay in Manhattan because it is filled with amazing restaurants and the highest-end cafes in the country. Others reside in Manhattan because of their love of Broadway and entertainment.  

Where should you live in a brand new apartment in Manhattan? 

Hudson Yards

Hudson Yards is a modern and vibrant neighborhood located on the west side of Manhattan in New York City. This recently developed area is known for its sleek, high-rise architecture, making it one of the city’s most contemporary districts. The neighborhood is centered around the Hudson Yards development project, which includes a striking collection of skyscrapers, luxury residences, high-end retail shops, and fine dining restaurants. New Developments are being built at an impressive rate in Hudson Yards, and the Median Sales Price as of September 2023 is of about $8.38 million.

The crown jewel of Hudson Yards is “The Vessel,” an impressive interactive art installation and landmark that offers panoramic views of the city. The High Line, a unique elevated park built on a historic rail line, runs through the neighborhood, adding greenery and outdoor space for residents and visitors. Hudson Yards has quickly become a hub for fashion, culture, and commerce, making it a must-visit destination for those seeking a taste of modern New York City.

Lower East Side and East Village

The Lower East Side of Manhattan is home to the Williamsburg Bridge, East River Park, the Tenement Museum, and so much more. Located right next to the East River, it’s one of the most exciting parts of New York City. Because of this, these neighborhoods have witnessed an influx of new residential developments, particularly along the East River waterfront. If you plan to make your home in a new building in the Lower East Side, plan to be spending upwards of $1.18 million.

Lower Manhattan

This area, including the Financial District and Battery Park City, has seen significant growth with new residential and commercial developments. The World Trade Center complex is a notable part of this redevelopment, contributing to the revitalization and transformation of this historic neighborhood.

Luxury apartment buildings and condominiums have been constructed to accommodate the increasing number of residents seeking a downtown lifestyle with proximity to the Financial District and the waterfront. With a median price per square foot of $1,368, and a median sales price of $1.8 million, Lower Manhattan can be attractive thanks to parks and cultural amenities, making it a desirable waterfront community.

Summary 

Manhattan is one of the hottest parts of New York City, one of the hottest cities on Earth. Because of that, finding an apartment in Manhattan isn’t always easy. That is why you should contact BARNES New York if you want to buy a brand new apartment in Manhattan when you are making plans to move to the City. You don’t need the stress of the process and instead should just rely on our experts, who know the ins and outs of the market and will make the entire process painless.  

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BARNES Magazine n°34 is hot off the press

In this edition, we highlight Daniel Boulud, often regarded as ‘the quintessential French chef in the United States.’ Having made New York his home for the past four decades, he is set to unveil Café Boulud in collaboration with la Maison BARNES, on the Upper East Side of Manhattan, this November. This union of two renowned French brands promises to provide guests with a truly unique experience, where they can savor their exceptional skills, warm hospitality, and craftsmanship.

In this most recent issue, we explore the elegance of Bernardaud’s tableware, delve into the design passion of antique dealer Aurélien SERRE, witness the revival of Molli under the guidance of entrepreneur Charlotte de Fayet, and shed light on the dedication of Anne-Aymone Giscard d’Estaing and the SOS Chrétiens d’Orient association.

Not forgetting a world tour of our finest properties for sale and for rent.

Read more

What is the average home price in Queens? 

If you’re flying into New York City, one of the first places you’ll encounter is most likely Queens. This New York City neighborhood features two of the largest airports that greet people in the area. So, if you’re looking to move to an area that’s the epitome of the New York City lifestyle, Queens is the place for you. Plus, Queens is rich with history and American icons. 

Finding a home in Queens can be pricier than looking at other big cities in the United States. Unfortunately, New York City is known for exorbitant prices whether you’re eating out or looking for a place to stay. The housing market in this area is no different from the rest of the higher living costs. However, you can balance this out by finding a job in New York City that pays enough to live comfortably. 

So, are you interested in finding a place to live in Queens but don’t know where to start? We will discuss the average home price in Queens based on location, size, and home features. Our guide can help you make a seamless move to New York City. 

How expensive is it to live in Queens? 

The reasons for getting a property in New York City are obvious. There are plenty of places to work, eat, and hang out in the city that never sleeps. You can get apartments, condos, townhouses, and penthouses when you live in Queens. There’s no limit to the type of investment properties you can find while looking through realtor listings. It’s also important to pay attention to the neighborhood you choose, so you and your family feel comfortable in your new home. 

The location of your Queens home can have a huge impact on how much you’ll pay for the purchase. For example, if you’re looking for a house that’s close to the action, then you’ll spend much more than a house on the outskirts of the city. Many people are looking for a house that’s within walking distance from New York’s finest attractions, or at least close to a subway station.

As of September 2023, the median sale price for homes in Queens is $478,000* but varies significantly based on the features that come with the home. For example, if you want to purchase an apartment that’s high up, so you have a beautiful view of the city, that will cost you more. Neighborhoods like Malba, Queensboro Hill and College Point, as well as Hunters Point, right across from Manhattan, are among the most expensive areas in Queens.

*Data from PropertyShark

What neighborhood should you live in? 

Whenever you choose a place to live in New York, it’s important to consider all of the neighborhoods in the area you’re interested in. The neighborhood you choose should be suitable to your home life and close to places you enjoy. For example, you might prioritize living in a neighborhood close to work over neighborhoods offering other features. 

Plenty of people live in Queens and seek the suburban lifestyle. Having a relaxing place to start a family is a great way to feel confident about life ventures. However, no matter where you live in Queens, there are plenty of ways to access the urban parts of NYC. So, you can enjoy the peace of living in a quiet neighborhood, like Forrest Hills, or choose a neighborhood close to Manhattan, like Astoria. 

The Queens neighborhood that works best for you depends on your financial situation and the places you visit most often. Astoria is one of the most popular neighborhoods in Queens because it’s the easiest way to access the big city parts of New York City. However, plenty of people prefer a quiet environment over convenience. Finding a property for sale in Queens is easy, depending on your neighborhood. 

What is the average price of a Queens penthouse? 

So, are you looking to buy a property in Queens? One of the most popular options for Queens real estate is the penthouses. You can enjoy the beautiful views offered by these penthouses as soon as you wake up in the morning. This type of property overlooks some of the most vibrant places in New York City and nearby. 

The median sales price in Queens for a penthouse fluctuates depending on the neighborhood. Some neighborhoods go for higher values than others in New York City, which isn’t too surprising. However, the most expensive Queens condo listed as of early 2023 was almost $5 million. They can get pricey depending on the features they offer, especially for luxury living. 

* Data from The Wall Street Journal

What is the average price of a Queens townhouse? 

Another popular way to enjoy living in Queens is to get a townhouse. People enjoy these types of properties because they can feel more traditional than other types of NYC properties. The amount you’ll spend on a Queens townhouse is usually around $752,000, but the price changes a lot depending on features and location. People feel comfortable living in a townhouse because it offers classic suburban living. 

What is the average price of a Queens condo or coop? 

People who value convenience over other aspects of Property buying love living in a condo. It’s common for condos to offer a local gym, meeting halls, and central locations. However, you can purchase a luxurious condo in Manhattan or one that has the bare minimum for your comfort level. The median cost for Queens real estate that surrounds condos is $685,000 as of September 2023, while the coop market started at around $293,000.

Summary 

So, are you ready to buy a property in Queens based on this information? There is no shortage of things to do in Queens, and you can reap the benefits of a suburban lifestyle. There are several neighborhoods you can choose from, and are our team of experts will gladly assist you with the decision. We are familiar with the Queens area and dedicated to helping our clients. Contact us today for a consultation so we can help you get the Queens real estate property of your dreams. 

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Why should you buy a house in New Rochelle? 

New Rochelle is a city located in Westchester County, New York. Its nickname is the ‘Queen City of Sound’, which gives homage to the vibrant and diverse community. It offers plenty of green spaces and all kinds of housing options.

This includes luxury apartments, villas, mansions, and so much more. If you are looking for a place to call home, New Rochelle could be what you’re looking for. Let’s take a look at some of the reasons why you should buy a house in New Rochelle.

Close proximity to New York City 

New Rochelle is situated 16 miles north of New York City, meaning that it is close to all kinds of cultural and economic opportunities. It offers a relaxed suburban lifestyle. 

If you are someone that loves the balance of hustle-bustle and peace-quiet, then you might be impressed with New Rochelle. Its rich history, local events, and festivals that go on throughout the year are also worth checking out.

Proving that you don’t always have to go to New York City to find something to do. You might find it just outside your front door in New Rochelle. Plus, if you’re looking to buy a house in New Rochelle, you’re in the right place.

Property values have appreciated in recent years 

If you are purchasing a property such as one of the many houses in New Rochelle, there’s good news. The property values here have appreciated in recent years. Thus, it would make for a great long-term investment. 

Westchester County as a whole has one of the highest median household incomes in the nation. Furthermore, it has a strong job market and plenty of excellent educational opportunities. The current median home value in September 2023 in New Rochelle is $675,000, which shows a 12% increase from last year.

Plenty of luxury apartments 

New Rochelle has seen a surge in new developments recently. This includes a large number of high-end apartment buildings and condos. Many of them boast excellent views of Long Island Sound and easy access to many of New Rochelle’s amenities.

Let’s not forget, you may also be within a short distance of public transit, including transportation options that can take you straight to New York City, other towns in Westchester County, and beyond. If you are a young professional looking for a place, luxury apartments in New Rochelle may be the best option.

Numerous houses

As such, there are plenty of options for those who prefer houses in New Rochelle. These include historic homes and modern new builds. The older homes in the city are either Colonial-style or Victorian.

These are charming homes with wrap-around porches, fireplaces, and stained glass windows. There are other homes with larger lots that will allow for much larger green space. The house you want may depend on the critical needs and preferences you may have.

One house may be suitable for one individual while another may be fitting for homeowners with families. There’s always something for almost everyone when it comes to houses. 

It has villas and mansions as well 

If you are looking for something a bit more high end, it’s possible to find an option among the many villas in New Rochelle. These properties include plenty of amenities including private pools, large gardens, and numerous bedrooms and bathrooms. 

The same can be said about the mansions in New Rochelle. You can find one in an exclusive neighborhood and get the best in seclusion and privacy. Whatever fulfills your personal needs and preferences, a villa or even a mansion may be something you’re looking for. 

You might find that luxury living might be right up your alley. There are plenty of options for you including the amenities that will fulfill all your preferred needs and wants. Don’t miss out on those opportunities. 

It’s got all kinds of transportation options

As mentioned, New Rochelle is one of the cities where you can easily access NYC and other areas. Metro-North Railroad and Amtrak are two rail transportation networks that run through New Rochelle.

Aside from NYC, you can also use the rail system to get to places within Westchester County and in neighboring Connecticut. Wherever you need to go, you can easily get there via New Rochelle. 

It should be noted that you’ll also be able to easily access the three major airports in the NYC metro area. All three airports (LaGuardia, Kennedy, and Newark) will offer domestic flights. However, if you are planning on traveling internationally, Kennedy and Newark are your options. 

Interstate 95 runs through New Rochelle. If you need to travel on a major highway, you will be able to easily hop on and get to where you need to go. With a robust transportation system, you can get to almost anywhere via New Rochelle. 

Summary

New Rochelle may be one of the best cities in Westchester County to call home. You’d be hard-pressed to find the home of your dreams anywhere else. With so many options to fit your budget, you’re bound to find something. 

Don’t miss out. Contact us today and discover what this vibrant city has to offer, whether you’re looking to buy a house in New Rochelle or explore other housing options. 

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What is the New York City real estate market like?

Even if you have never been there before, you are surely aware that there are few cities in the world like New York City. The biggest city in America is also one of the most beloved and recognized on all of Earth. From business to nightlife to culture to restaurants and more, New York City has it all.  

It is one of the most popular places in the world and that means that it has one of the most famous real estate markets too. The real estate market in New York City is known as a good barometer for the entire country and world. When real estate in New York City becomes more expensive, it often signals a trend that will impact other major cities worldwide.

There is a lot to know about buying real estate in New York City. It’s unlike any other city on Earth because of the various things you need to keep in mind. Just saying you want to move to New York City isn’t enough. You should know the location, type of residence, benefits, and more.

But investing your money in the New York City real estate market is almost always a good idea. It has pushed through some of the toughest world events ever – including over the last few years. This proves that, even in the worst of times, the New York City real estate market is strong and will always bounce back. The resilient New York City market is a compelling reason to consider investing in it, whether you seek a home for sale or apartments for sale. 

Let’s take a deeper look into the current state of the market in the city that never sleeps. Is now a good time to buy into New York City real estate, either as someone wanting to move there or someone wanting to invest? What other things should you be aware of when you are contemplating a move as big as this one? 

How much does it cost to buy into New York City Real Estate? 

According to UrbanDigs, Manhattan’s median home prices were down about 3.3% in the month of September 2023 compared to the previous year. The median sale price for a house in Manhattan was $1,152,066 and was on the market for about 75 days. The median sale price per square foot in Manhattan is $1,438, down 0.7% since last year. 

Brooklyn is seeing a different trend, with a per square foot of about $976 in September 2023, showing a 2.2% increase from last year. The median sale price also rose to $961,000, a 0.9% increase year-over-year.

The market is primed for someone, even a first time buyer, to make a mark on the New York City real estate market. With prices dropping, you will be able to spend less money. And with the amount of sales reaching a ten-year low, the market place is filled with locations that are ready to be grabbed up. It is important to note, however, that the supply of homes right now is historically low. 

From luxury apartments, single-family buildings, condo, townhouses, penthouses, and beyond, New York is ready to offer something at the lowest prices it’s had in ages.

Why should you buy homes in New York? 

Besides favorable pricing, there are numerous reasons to invest in the current New York City real estate market, not solely due to affordability.  

New York City is a cultural mecca that has something to offer just about anyone who moves there. Whether you’re a theater-goer, a business person, a family man or woman, or just someone trying to set off on your own and live your life, you will have plenty to do and enjoy in New York. This is one of the reasons why it’s the most populated city in all of America – people love living there. 

Here are just a few things that should convince you that moving to New York or buying property there is a great idea. 

The Location

It goes without saying but New York City truly is at the center of everything in many ways. 

New York City is home to Broadway, where the finest plays in the world are performed to adoring crowds. It is also the center of the business world, with many Fortune 500 companies making their homes in NYC. But beyond that, New York is a place where cultures from all over the world mix together and live in harmony. With this, you are able to witness events that you wouldn’t see anywhere else, try cuisine that is mouth-watering, and experience different world views.  

Plus, one of the best things about living in New York City is that you can enjoy these things from any part of it. Because of the great public transportation system in place, you can visit any part of the city with ease. 

The Resale Value 

Right now, the prices and demand for houses in New York City are at a low. However, it won’t always be that way. As it always does, the New York City real estate market will rebound and the prices will go up in time.  

That will help you in the long run because your resale value will grow in the next few years. A home that you buy now will be worth even more, and will garner you an even higher price point. For those who look to buy real estate as a smart investment choice, buying in New York City right now might be one of the smartest. 

The Strength of the Market 

New York City has been through a lot since its founding hundreds of years ago. From world wars, terrorist attacks, pandemics, and more, New York City and its real estate market has always stayed steady and held fast and then grew again. 

There are few cities that have proven their resilience like New York and few real estate markets like theirs too. Despite worsening market conditions in New York, the city’s strong history and evidence of resilience instill confidence.

Summary 

There are very few cities in the world like New York City. From the offerings of food, culture, public transportation, business, and more, there really is something for everyone in the Big Apple.  

The truth is that the New York City real estate market is going through a period of change. Some of the biggest indicators of the market are at decade lows, which raises the alarm for some people. Despite surface appearances, there’s a significant opportunity in the New York City market, particularly for investors.

If you feel that now is the right time for you to buy into New York, you should call upon our expert team at BARNES New York. From New York City and beyond, we know the most intricate and minute details that should be paid attention to. 

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Why should you buy an apartment in DUMBO?

DUMBO is a very popular and blossoming neighborhood in Brooklyn, and that means that the price of living there has gone up over the years. This guide will teach you everything you need to know if you want to buy an apartment in DUMBO. 

DUMBO has become one of the most popular parts of Brooklyn but it still remains a hidden treasure for many. In fact, many people in New York don’t even know where this region of town got its name from. 

The truth is that DUMBO stands for “Down Under the Manhattan Bridge Overpass.” The idea of living near one of the most popular and busy bridges in the country might not sound appealing to some, but it’s actually one of the best neighborhoods in town. That is why finding an apartment for sale in DUMBO or the act of buying a condo in DUMBO or buying a co-op in Dumbo is harder than ever for some.  

Once a best-kept secret, DUMBO has become more and more popular, especially over the last few years during the COVID-19 pandemic. But DUMBO isn’t the cheapest part of town, and demand for nearly any apartment, townhouse, or penthouse in the area has skyrocketed seemingly overnight. Therefore, you need to know what you’re getting into when you start house-hunting in this region. There are many things to keep in mind and look out for, which is true when you’re attempting to make a home in any part of Brooklyn. 

Let’s have a deeper look at all that DUMBO has to offer and why should you buy an apartment in DUMBO. It might have a somewhat silly name but there is nothing silly about how great this area is. 

How much does it cost to live in DUMBO? 

DUMBO was becoming increasingly more popular a few years ago but its popularity exploded during the COVID pandemic.  

That demand for this specific location has meant that the price of living has also gone up. The more people look to move to DUMBO, the more they are charged. It now costs more to live in DUMBO than it ever has before. 

According to UrbanDigs, the median sales price market-wide in DUMBO in August 2023 was $1.59M. Supply also showed a 22% decline compared to last year. The median rent for an apartment with one bedroom is about $5,150 a month. If you are looking for a two-bedroom place in DUMBO, you should expect to spend at least $6,800 a month. 

As you can see, the price of getting your foot in the door of DUMBO isn’t cheap. But that’s because there is just so much that makes this region great.  

Why buy in DUMBO? 

Living in DUMBO comes with many rewards. Firstly, you are sure to find a location that is both modern and vintage at the same time. It will be convenient, refurbished, and very trendy too. But there is more than just that that makes DUMBO a part of the city that you should pay attention to and invest your money in. 

Dining 

You will have no shortage of places to eat good meals and wet your whistle when you move to DUMBO. The River Cafe, for example, is high-end and stunning and has provided great dishes for more than 40 years. Ample Hills Creamery is not only a wonderful spot to enjoy some yummy treats but is also a museum too. And no self-respecting New Yorker can go long without a delicious slice of pizza like the type you can get at Juliana’s. 

One of the best things about the eateries in DUMBO is that they come with amazing views. Most of the restaurants in the area are just walking distance from the stunning, historic Brooklyn Bridge. 

Culture 

Like in all parts of Brooklyn, you will have great tastes of local culture when you move to DUMBO. The location has been blossoming lately with wonderful places for open mic nights, concerts, book readings, and so much more.  

In fact, there are a plethora of things to do in DUMBO and you will always have something fun and exciting on your schedule after moving to this part of town. And one of the best things about DUMBO is that most everything is within walking distance of wherever you are living. And when you are walking from one place to another, you will surely stumble upon countless other businesses and places that you want to visit soon.  

Shopping 

Since DUMBO is one of the hippest parts of town, there are a lot of great, small, fun, and unique shops that will keep you busy and happy. From the more high-end to the more quirky and fun, like Natchie, Glam Expressway, and more.  

No matter where you shop in DUMBO, you can be sure that you’ll be offered the latest and greatest in fashion and accessories. Additionally, if you are looking for businesses that are more well-known and familiar to you, you will also be in luck because DUMBO has a bunch of companies and brands that everyone loves as well.

Summary

DUMBO is now one of the most exciting and sought-after areas of Brooklyn. With that demand comes a high cost, which is all the more reason you should be sure that you’re getting the apartment, condo, or co-op of your dreams. You can do that by calling upon our team at BARNES New York if your dream is to buy an apartment in DUMBO. We have the experience, the expertise, and the skill to find you a home that feels unique and tailor-made for you.  

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In the Media – What type of housing do you find in New York? by BARNES

Recognized as one of the most dynamic cities in the world, New York attracts with the diversity of its neighborhoods and its multicultural dimension. For those who want to invest in New York, whether to buy a property to live there or to rent it out, it is important to know that there are several types of property: condominiums and co-ops are the most common, but not only! Discover what type of housing you can find in New York in BARNES’ article for the French American Chamber of Commerce.

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Can foreigners buy property in New York? 

New York City is one of the most attractive cities in the world, and millions look to call it home. Can a foreigner buy property in New York City? Our guide tells you yes and teaches what you need to know if you are making this big step. 

New York City is one of the most exciting and promising cities in the entire world. There are quite literally millions of people who move to New York from all over the world. There are a number of reasons that entice people to this major metropolis, from its cultural pulse, to its location on the East Coast, to its place at the center of commerce and entertainment. 

New York is so appealing, in fact, that many foreign-born people want to plant their flags in New York City and buy property there. But some people aren’t sure if there are taxes and rules related to that or if it’s even possible at all. Did you know that there are some countries and cities that don’t allow foreigners to buy real estate?

Many people wonder if foreigners can buy property in New York and the correct answer is, yes, they can. However, if you are someone not born in the United States, there are a few things you should know when you are buying an apartment in New York City. You should be well aware of the requirements you’ll need to meet, the documents you will need to have, and the sort of property that you can invest in.

Buying a property in New York City is possible if you’re a foreigner but you should be sure you know what you’re doing and what steps you need to take. Thankfully, our guide will teach you everything you need to know if you’re a foreign-born investor looking to break into the New York City real estate market.  

What does a foreigner need to buy a property in New York City? 

Not only can a foreigner buy property in New York City but many already have. In fact, there are countless foreign-born residents and foreign corporations that own much of the land and property in the Big Apple. However, there will be tax implications. The IRS (Internal Revenue Service) requires foreigners to pay US income taxes on any income in/from the United States.

If you wish to be one of the many foreigners who have invested in the New York City real estate market and buy property in the city that never sleeps, there are a few things you need to have access to before you can start the process. 

Depending on your type of investment (primary residence or rental investment), you will first need to determine the best legal structure for your real estate investment. You will also need a valid passport or proof of identity, a social security number or ITIN, bank statements and other financial documents from your foreign bank, and any evidence of fund, reserves, check stubs, tax returns, and/or a US credit score.

The higher that your credit rating is, the lower your initial down payment will be. Of course, some foreign-born residents might have a low or no credit score at all with no history in the US. If that is the case, there are still properties that you will be able to buy but you will have to consult with your real estate agent. Obtaining US financing is also possible, but you will need to get advice from our agents or a real estate attorney.

Everyone, foreign-born or not, will have to place a down payment on any property they are intending to buy with financing. The amount you will need to spend varies depending on the type of loan you are granted but it is usually around 20% of the home’s final purchase price. Keep in mind that if you make a larger down payment initially, you will have less money to pay off on the property over time. Because of this, some people look to have a larger down payment so they are not tied to their mortgage payments for so much longer.

If you are getting a mortgage, you might be requested to show a consistent, reliable form of income that is coming into your bank. Any lender will want to make sure that you can afford the property you are buying and that you can make your monthly mortgage payment too. Of course, buying cash is also a faster and easier option.

Foreigners can own the property under their own name or through a company. There are pros and cons for each option, depending on whether there is a mortgage involved, or the existence of a tax treaty between the United States and the foreigner’s country.

New York City Real Estate
New York City Building

How does a foreigner buy property in New York City? 

If a foreigner decides that they want to purchase New York City property, there are several steps that they will need to follow in order to make that happen.  

Firstly, they should find the neighborhood they are most attracted to. They should have their goals in mind. Do they want to settle down with a family? Are they looking to start a business? Do they need to be close to public transportation, schools, or other businesses? All of this needs to be put into consideration. Additionally, any potential buyer needs to think about the sort of housing they want to reside in and the amenities that they require with it.  

Finding the right real estate agent is yet another step that needs to be finished when a foreigner is looking to buy real estate in New York City. This agent will be able to tell the foreigner about trends in the industry, the best places to live depending on their needs, and all the documentation that is needed to purchase property.

Once the right property is found, an offer can be made. That entire part of the process will be handled by the real estate agent and an attorney, who will make sure that all the paperwork is done. 

Why should you buy New York City real estate? 

The reasons why a foreigner would want to buy property in New York City are numerous. For generations now, NYC has been one of the most exciting places to live in the entire world. 

New York City has a bunch of different cultures all living in one place. There are people who were born in many various parts of the world who now call New York City their home. That means that you will be able to meet new types of people, experience their ways of life, their food, and their customs.

Buying property in New York can also be a very smart investment because of the resale value of New York apartments, townhouses, condos, co-ops, and more. Buying an investment property in a resilient market like New York is a good option to diversify a real estate portfolio.  

New York is seen as the center of the world when it comes to entertainment, fashion, and business. If you or your family are interested in these things or tied to them in any way, New York will make you even more connected to the pulse of the nation and the latest trends. 

What type of New York City property can you buy?

The median price of a home in New York City is about $715,000, according to PropertyShark. That is a decrease of about 7.7% from last year. You have plenty of options when you are looking to invest in the city:

Condo: Any foreigner looking to buy property in New York should think about a condo. While they are built like very large, modern apartments, you actually have full ownership over a condo when you buy it and share certain common areas, such as parking and the gym.

Co-op: A co-op is perfect for people who want to invest long-term in a home and who know they will be located in NYC for a few years. With one of these types of properties, owners are able to share in the co-op association, and the shareholders own the building and all the units. Owning a co-op requires that you participate in the co-op board, which decides who is able to buy space, and renting out is usually not allowed.

Townhouse: A New York City townhouse is usually a two or three-story building that is very spacious and situated right next door to adjacent buildings. To many, it feels like an ultra-large, multi-story apartment that is tall and narrow. Townhouses are great investments and a wonderful choice for a foreigner but they also often come with a heftier price point.

Summary

New York City is one of the most beloved cities in the entire world and that is why so many people from all over Earth want to live there. The good news is that no matter where you were born, you can buy property in New York. But you just need to be aware of a few things and remember them as you start your hunt for your new place. Contact us at BARNES New York if you are a foreign-born resident looking to make the big move to the Big Apple. 

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