fbpx

Category: New York Real Estate

Discover everything about New York Real Estate, market updates, trendy properties and new developments opportunities you shouldn’t miss. New York Real Estate can be a rollercoaster, and you need to be on top of it. Read our articles presenting you all the recent developments in tern of Real Estate news in new York and things you should absolutely be aware of.

Where should you buy a house in Westchester?

Do you want to know more about where to buy a house in Westchester? Westchester County, located directly north of New York City, is home to some of the most desirable suburbs in the United States. Properties here are more spacious and green than in the Big Apple, and are widely known to be quieter while still maintaining some of that big city feel.

What’s great about Westchester is its wealth of living options. The county is home to 45 cities, towns, and villages—some with bustling downtowns while others are quaint—meaning there is a place for everyone.

What’s also great about Westchester is its proximity to Manhattan. While it may be an entire county away, it sure doesn’t feel like it. Many of Westchester’s cities are only thirty minutes away from Manhattan by train or car. So don’t be turned away by the mention of suburbs.

With so many Westchester houses for sale, there are no shortages of good options in iconic suburbs just north of New York City.

What city is best for me?

There are so many cities, towns, and villages in Westchester that it can be overwhelming to decide which best fits your needs. But in reality—with top-rated cities like New Rochelle, Larchmont, Mamaroneck, Rye, Harrison, Port Chester, Mount Vernon, Yonkers, and Hudson Valley—there is little wrong you can do when you want to buy a house in Westchester.

That being said, each place is unique in its own way and tailors to certain tastes more than others.

Why live in New Rochelle?

New Rochelle is a French-settled city situated on the eastern side of Westchester and offers several nature parks along its nine-plus miles of shoreline. It has a busy downtown home to countless highly-rated restaurants, museums, galleries, and shops. With a population of around 77,000, New Rochelle leaves its residents with some room to breathe despite its close proximity to Manhattan.

Skyview from Marina, in New Rochelle

What about Larchmont?

Larchmont began as a summer retreat for the wealthy of Manhattan but has since transformed into its own thriving space with a walkable downtown and big-city feel. It has waterfront access, and homes with plenty of space and yards. In addition, Larchmont has a large (and growing) French community and is home to the French American School of New York.

Why live in Mamaroneck?

Surrounding Larchmont is Mamaroneck, sometimes referred to as ‘The Friendly Village’. It is a culturally diverse and historical area with plenty of shorelines, beautiful parks to relax and unwind in, and its own vibrant downtown. In terms of housing options, there is something for everyone. From brilliant water-edge houses to historically-significant ones inland, there is something that will appeal to everyone.

Why about Rye?

North of Mamaroneck is the town of Rye, the smallest city in Westchester. But don’t get hung up on its size. Rye is home to loads of fine-dining restaurants, shoreline parks, a golf club, nature centers, and a thriving marina. It also has a diverse housing market that features both water-edge homes and spacious ones inland. Plus, commuting to Manhattan is still a breeze, about 40 minutes by car or a little over one hour by train.

Where does Harrison rank?

Situated between Mamaroneck and Rye is Harrison, one of the most affluent areas in the United States. Harrison has no shoreline, but large homes and spacious yards more than make up for that difference. While the quaint downtown may leave a little to be desired, Harrison’s proximity to Manhattan will not. You can be midtown in under 40 minutes.

What’s in Port Chester?

Just north of Rye and bordering Connecticut is Port Chester, a city full of young professionals and a busy downtown. It has a mix of cultures and a wide array of restaurants that support its wide mix. Located in the downtown of Port Chester is the Capitol Theater, a live music venue that has hosted countless famous musicians over the years.

What about Mount Vernon?

To the west of New Rochelle is Mount Vernon, immediately north of the Bronx. Mount Vernon sports a more urban feel than the rest of its Westchester neighbors because it is so close to the city. Those looking to save some money may find the cost of living here more affordable. Mount Vernon is ideal for those still looking for the city feel without actually being in the city.

Why Yonkers?

West of Mount Vernon is Yonkers, a river-bordered city that overlooks the state of New Jersey. The city offers a casino, a horse racing track, and a large shopping center. Despite its proximity to New York City and its more urban style, it has quite a bit of greenery thanks, in part, to its tree-lined streets and sporadic and sprawling parks. Museum-lovers and foodies will be similarly at home here, thanks to Yonkers’ wide array of both.

Sunset View from the port in Yonkers
View from the port with the NY skyline in the background

What else is in the Hudson Valley?

Westchester is only the southern tip of Hudson Valley—an area known for its beautiful nature-filled parks, retreats, and tourism. It’s where many artists—authors, painters, even photographers—garnered inspiration for some of their most influential works. The further north you go in the Hudson Valley, the more New York starts to feel like a countryside rather than a city. However, no matter how far north you decide to live in Westchester County, you can rest easy knowing that New York City is still within reach.

How do I decide?

New York City is a giant place—it is the biggest city in the United States—and there are so many real estate options. But real estate in Westchester has never been better. So there are countless options on the market today if you want to buy a house in Westchester.

Navigating New York real estate can be challenging, but it isn’t impossible. For expert advice, guidance, and the finest luxury listings available in the city, be sure to check out BARNES New York.

Contact Us

How to buy a house on Long Island?

Are you curious on how to buy a house on Long Island? Many people may not realize that the popular boroughs of Brooklyn and Queens are located on Long Island. Over half of New York City’s residents live there, in just those two areas. However, all the eastern part of Long Island, all the way to Montauk in the Hamptons and the North Fork, are not considered part of NYC. But if you’re looking to be close to the city but not in the thick of Manhattan, Long Island is an excellent option.

It’s important to know exactly what you’re looking for, and what you’re getting into. Find your price range, and look at neighborhoods, not just properties. Commutes, schools, job opportunities, and noise levels are all things to consider before buying a home on Long Island.

What should you know before buying?

Depending on where you may be moving from, there are a few factors that may not have even crossed your mind when looking at to buy a house in Long Island. While Long Island has been rated one of the top 50 best places to live in the US, you need to determine if it is indeed the best place for you.

Dress for the Weather

New York is a state with all four seasons. This may seem obvious for some, but not so much for others. What this ultimately means for residents is that the summers are very hot, and the winters are very cold. There are pros and cons to each season, and it certainly gives you a good variety of recreational activities throughout the year.

Summer on Long Island is excellent for beach trips, boat rides, sporting events, camping trips, and more. Winter brings you sledding, ice skating, skiing, and usually, a very white Christmas. Whatever season is your forte, be sure to come prepared for everything the Northeast has to offer.

Cars are not (always) necessary

Like most of New York, Long Island is primed with public transportation in the Western part. In 2020, New Yorkers who drove spent an average of 56 hours in traffic. Finding alternative transportation decreases the time spent waiting in traffic and significantly reduces the amount of pollution in any given area.

In 2020, the Northeast alone saw a 30% decrease in air pollution due to the lockdowns and fewer people being on the road. New York is well on its way to being car-free, with only 46.5 percent of NYC households owning vehicles at all. The Long Island Railroad is a popular alternative means of transportation, along with the Subway, Ferries, and biking.

But if you like to drive, all the Eastern part of Long Island is perfect for driving and much more car-friendly. So you can easily enjoy a short drive to the beach!

The Montauk lighthouse in the sunset, with the beach in the foreground and the sea.
The Fire Island lighthouse at sunset, with beautiful pink-reddish sky.

Cost of living & taxes

Despite being off the city main, Long Island is still one of the most sought after and coveted places to live in New York. Demand is high, and so are the prices. A single-family house in Long Island, all areas included, costs on average around $750,000 in Quarter 2, 2022. As a comparison, the Hamptons, the most eastern part of Long Island, shows an average sales price of $3 million.* On top of paying a mortgage, Long Island also has some of the highest property taxes in the country.

*Data from Miller Samuel

Is Long Island a good place to live?

Nassau County is known for its excellent recreational areas, eateries, and charming storefronts. Neighborhoods such as Great Neck Gardens, Jericho, and Manhasset Hills have a plethora of restaurants, coffee shops, and storefronts but can also give residents a suburban feel.

Suffolk County, the largest county on Long Island, is one of the most expensive places to live in the US. If you are looking for a quiet, suburban feel while still being close to the city, this may be your place. There are many luxury apartments along the coastline with beautiful views and amenities. If your budget is a little higher, there are beautiful mansions and villas right on teh water! Some of the most desired neighborhoods include Lloyd Harbor, Cold Springs, and Dix Hills. Median homes for these neighborhoods range from $700k-$1.5M. Long Island is also an extremely culturally and ethnically diverse area.

What steps should I take toward buying a house on Long Island?

So you’ve done your research, and you’ve determined that you definitely want to buy a house on Long Island. What next? Here are some tips that will help you in your journey.

  • Organize your finances. Credit score, bank statements, tax returns, W2s, Social security numbers, divorce decrees—these are all things you will need on your journey to buy a house on Long Island.
  • Get Pre-approved. Determine your budget, what kind of loan you will need, and look at interest rates. You can put in an application before even looking at homes to get pre-approved.
  • Find a realtor. This is especially important if you’re not from the area and can’t physically go see each home as you search. Instead, find someone local who knows the local market and will be honest with you about your options.
  • Make an offer. Make an offer on a property that you feel is right for you, whether it was “love at first sight”, or one that took a little while to sleep on.
  • Get an inspection. Once you have found a home, it’s very important to get it appraised and inspected.

Once you’ve finalized your budget, worked with a realtor, and found your perfect home, the rest is history. Depending on the market, your first offer may not get picked, but that’s okay. Keep looking, and you will find the perfect Long Island home for you. Long Islands’ gorgeous skylines and sunsets, greenery, and seasonal variety are worth the time it takes to find an amazing property. For more information and the best listings in Long Island, contact BARNES New York.

Contact Us

BARNES New York at online showcase “Bien Vivre aux États-Unis”

BARNES New York will be participating in the online fair “Bien Vivre in the United States”, organized organized by French Morning and presented by USAFrance Financials.

“Bien Vivre in the United States” is the first digital fair dedicated to French expatriates in the United States, or preparing for expatriation, offering an entire week of conferences with experts to receive advices to live better in the United States, whether you are settled there for a long time or are still dreaming of living there.

All the most essential topics of expatriation will be touched upon, including immigration, family, business, heritage, health, immigration… but also the daily life of the expatriate, to give you the keys to live your expatriation as well as possible.

The fair will take place online from September 12th to the16th, 2022. BARNES New York will be represented by Managing Partner Yann Rousseau, who will be presenting New York’s real estate market along with powerful insights on how to buy a property in the Big Apple.

Join BARNES New York on September 12th at 2pm EST/20h FR.

SIGN UP

What is the Luxury Real Estate Market like in New York?

The luxury real estate market in New York is continuing to thrive. The opening and second quarters of 2022 saw more deals signed to add to the already growing count of luxury properties.

The COVID-19 pandemic had a deep impact on the market, which has now recovered, and even risen to higher prices than pre-pandemic levels. There is indeed still an increasing demand for high-end homes, especially in Manhattan.

How high is the interest rate expected to rise?

The interest rate has risen since the beginning of the global pandemic and is expected to continue to rise throughout the rest of the year. Right now, it is expected that the interest rate could increase from 5% to as high as 7% by the end of the year.

What is the current luxury market like in New York?

Simply put, the luxury real estate market is competitive, and people are looking to buy. So, with a supply shortage and an influx of demand, the prices rise with the interest rates.

Material and labor shortages add to this as well, making it another case where the demand is greater than the supply. To combat this, some sellers are opting to renovate their properties before listing so that they can charge more in the market. The results vary, but generally, the newly-renovated properties sell for more than similar, non-renovated properties.

As of the second Quarter 2022, the average sales price for luxury residences in Manhattan was around $8,800,000, and the average price per square foot is about $2,814/sq. ft. Overall, this represented a 14.5% increase year-over-year.*

*Data obtained from UrbanDigs

Is the luxury real estate New York market the same all over the city?

Luxury real estate in NYC offers a type of living that is one of a kind and cannot be found anywhere else. Because of this, the market is highly sought after, making the boroughs and neighborhoods surrounding Manhattan just as expensive. Of course, different areas offer different things, which is why BARNES, as the exemplar of luxury real estate in New York City, offers its services as a top brokerage to help you find what you need.

View of an apartment interior in a luxury building, showing the kitchen and living area with oversized windows and urban views.
Night view of the Manhattan skyline from an apartment in Long Island City.

What can I expect in New York luxury real estate?

New York City is a historical city with many historical buildings and homes built long ago. Those interested in living in luxurious, historical buildings will thus find no shortage of options in the big city. Many of them have been completely renovated or revived to their original glory and beauty.

Alternatively, New York City offers plenty of new buildings with picturesque views of the city with all of the modern-day amenities like a workout gym, a rooftop or a swimming pool.

Where are the best neighborhoods for luxury living?

There are so many options around New York City, but perhaps, the most prevalent are TriBeCa, SoHo, and Central Park, to name a few. TriBeCa is in downtown Manhattan. It is home to countless five-star restaurants, landmarks, and celebrities. It’s got the luxurious lifestyle that goes along with its many luxurious living options.

SoHo is an upper-class neighborhood in Lower Manhattan with many high-end shops and designer boutiques. In addition, there are many historical buildings here for luxury living.

The name Central Park says it all. It is indeed the iconic park located in the heart of New York City. The forested space is walled off entirely by high rises, both old and new, and the neighborhood offers a plethora of luxury living spaces. If you want the most picturesque views of New York City, you will find what you need here. Central Park Tower is actually the world’s tallest apartment building, located on New York City’s Billionaires’ Row. One of the most famous street, renowned for its luxury new developments with incredible amenities, is Park Avenue, south of Central Park.

How do I get more information on the luxury real estate market?

New York has a rich and storied history that dates back to the beginnings of modern-day America. It is a city like none other in the world and is host to some of the best luxury real estate options out there. New York City really has it all, from buildings built over a century ago to new constructions with all the amenities one could dream of.

A great place to begin your in-depth search into New York luxury real estate is here, with BARNES New York. BARNES is a top brokerage and can help guide you to finding the best possible option for luxury living.

Contact Us

Where should you buy a house in New York?

If New York City was a country, it would have the 10th largest economy in the world. There is such a diverse group of people, occupations, and living situations that there truly is something for everyone. More billionaires live in NY than anywhere else!

Buying a house in New York can be a huge change for many people, especially if you’re not used to city life or are relocating. It can be scary, but it can also be very exciting. Picking the right neighborhood can make or break your experience in NY, so it’s important to know what you’re looking for and do your research beforehand.

With plenty of NYC houses for sale, choosing the right one can be challenging. The five boroughs are all dramatically different, and even more so are the individual neighborhoods within. Here are a few options for those who want to buy a house in New York, whichever side of the coin you’re from, whether it’s in the middle of lush, beautiful skyscrapers in Central Park, or something more modest to get you on your feet.

Where is the best luxury housing in New York?

In New York City, the Upper West Side, as well as the Upper East Side, are a couple of the most sought-after places to live, and most coveted places to buy a house in New York. These two neighborhoods are among the most desirable and wealthiest areas of the city and are also home to some of NYC’s most iconic buildings.

Both are located in the borough of Manhattan. The median sale price between the two neighborhoods is around $1,300,000, but a townhouse is those neighborhoods can cost about $8 million.

What is it like to live in the Upper West Side?

Central Park borders the Upper West Side of Manhattan on the east and the Hudson River on the west. West 59th Street is on its south side, and West 110th Street lies to the north. It has long been the place where the most wealthy New Yorkers have resided, with the median housing price currently at $1.5M. Some of the most luxurious apartment buildings are found along Central Park West, many of which have housed popular celebrities.

There are numerous places for residents to get out and enjoy nature, with Central Park on the east side, along with Riverside Park near the Hudson River. Riverside Park is part of the Manhattan Waterfront Greenway, a bicycle route and walkway that circles Manhattan’s waterfront. The park is a lengthy 4 miles, stretching from 72nd street to 158th street, and reaches right down into the water. It’s a beautiful, scenic area to relax, enjoy the outdoors and get away from the hustle and bustle of the city.

The Upper West Side is a hub for diverse culture, intellect, art, and history. It’s home to the American Museum of Natural History, the Beacon Theater, the Lincoln Center for the Performing Arts, and much more. There are also countless restaurants, cafes, and diners. Some of the local favorites include City Diner at W. 90th street & Broadway, Cafe Luxembourg at 200 W 70th St, and Bar Boulud at 1900 Broadway, to name just a few. There is such a diverse assortment that you will certainly find something for everyone.

Sunset view with the Hotel Belleclaire, looking at the Hudson River.
View of the Upper East Side from Central Park.

How about the Upper East Side?

Yet another of NYC’s most prestigious neighborhoods, the Upper East Side is surrounded by 96th Street on the north side, the East River to the east, 59th Street on the south side, and Fifth Avenue to the west. While pricing is roughly similar, it is slightly smaller than its sister in the west and has a few sub-neighborhoods, known as Lenox Hill, Yorkville, and Carnegie Hill.

Perhaps the most interesting of the sub-neighborhoods is Yorkville, which used to be known as Kleindeutschland, or “Little Germany.” Much of its past is no longer noticeable, but the history remains. There are still a few German restaurants, and markets around that have survived over the decades.

Many famous political names have lived in this section of NY, including the Roosevelts, Kennedys, and Trumps, as well as celebrities such as Woody Allen, Lady Gaga, and Mariah Carey. It has also been the setting for many movies, books, and TV shows.

The architecture is truly something to admire in this area, particularly on 62nd Street, which is filled with brownstone houses, grand stoops, and mansions. For history buffs, the Museum Mile along Fifth Avenue is a must-see. It includes institutions such as the Museum for African Art, the Metropolitan Museum of Art, Cooper Hewitt Smithsonian Design Museum, and many more.

What do houses look like in West Village?

West Village is located west of Greenwich Village, delimited by Greenwich Avenue all the way to the Hudson River. The neighborhood is famous for its Bohemian culture and atmosphere, and was home to historical new movements and ideas, especially political, artistic, and cultural.

Most houses, like the vast majority in Manhattan, are 19th-century townhouses, with typical brownstone, cast-iron stairs and fire escape. As of July 2022, the median sale price for a townhouse in West Village is $8,200,000*.

Typical New York townhouses in a row in a quiet street with trees.
Brownstones with typical cast-iron stairs and flowers.

Where is the most affordable housing in New York?

If prestigious luxury housing is not your forte, you may be looking for something a little more on the down-low. While the overall median price of buying a house in NYC can seem high, there are a few areas where it’s exponentially more affordable. In addition, new developments in New York will eventually lead to more availability in high-interest areas.

If you still want to buy a house in New York, areas a little further away from the city can be explored, such as Brooklyn and Queens, or even Long Island, offering a lot more options such as townhouses and small houses and a little bit more space. It can be a little bit far away from the city, which, depending on your lifestyle, can be an advantage or an inconvenience. Owning a car, for example, might be easier if you get away a little bit from the city center.

*Data from UrbanDigs

How can BARNES work for you?

Unfortunately, due to the rising costs of construction labor and materials, a lot of companies simply can not afford to build anything less than expensive. This is great news for those looking for top-notch housing but can be a struggle for those trying to make ends meet.

There are also hundreds of older buildings in New York that, with a little TLC, could easily be rebuilt for either affordable housing options or turned into expensive townhomes. The bones of properties from the 60s and 70s, or even older, are still good, although they may feel out of date. However, they are well constructed, and with a little touching up, the possibilities are endless.

On the other side, the luxury housing trend continues to climb, increasing demand. For more information on the best places to find luxury housing, or to buy a house in New York, be sure to contact BARNES New York to talk to a professional.

Contact Us

Why rent a property in Westchester?

There are many reasons why you should rent a property in Westchester. Immediately north of New York City is Westchester County, a county full of thriving cities, towns, tucked away villages, and plenty of open and scenic areas with parks. Several top-named companies also claim Westchester County as their home, making it a highly sought-after county by many in which to reside.

What also makes Westchester such a great place to live is how many of its cities and towns are near a major train line. Places like Yonkers, New Rochelle, Larchmont, and Mamaroneck are under an hour by public transit to the heart of Manhattan.

Because of its proximity to New York City and more people wanting to reside in less packed and crowded areas, Westchester real estate is booming. Homes, apartments, condominiums, single-family, and multifamily spaces are all experiencing an influx of interested renters in the county.

Should I rent or sell property in Westchester?

Of course there are advantages and disadvantages to both renting or outright selling a property anywhere.

Today, more people are interested in renting properties than buying, and that is for a few different reasons. One reason is the uncertainty of interest rates and taxes. In addition, buyers today are uncertain whether the property they are buying will be worth it a year or two down the line.

Another reason to rent a place in Westchester County is the uncertainty most people have given the current state of the world. People don’t know if they want to stay in the area or pack up and move far away. That uncertainty turns many would-be buyers into renters. They like the flexibility.

And the final reason for renting as opposed to selling is the lack of rental property inventory in the area. The lack of inventory, coupled with Westchester being a desirable living space, could mean that your rental property rents for more than the asking price.

Why are so many people renting instead of buying today?

To put it simply, many people aren’t sure where they want to end up five, ten years down the line. Do they want to stay in the area, or do they want to move somewhere entirely different? The pandemic caused a lot of people to rethink their long-term plans, and many discovered that their future might differ from what they had originally thought. And from that uncertainty comes a transition period where buying property doesn’t make sense—renting does.

So it makes sense that because so many people are in a transition period in their lives, that renting a property would be more beneficial than selling.

Why is Westchester in such high demand?

Westchester County is in such high demand partly because of its closeness to New York City and partly because of what it has to offer.

Even if they work remotely, many people do so for a company with headquarters in the heart of New York City. The world is opening back up, meaning the chance of returning to work is a real possibility for most people, and that makes workplace proximity an important factor when considering property hunting.

In addition to its proximity, Westchester offers a lot of what New York City lacks: namely, open parks, yards, and larger living spaces. With so many people wanting exactly that today, Westchester has become an increasingly desirable place.

View of the pier at sunset in New Rochelle, on the eastern coastline.
Park with benches on the water with sunshine, and a lighthouse in the background.

Are there really bidding wars for rental properties?

Yes, there are. With the lower-than-usual inventory of Westchester apartments for rent and the influx of movers into the area, there is simply more demand than supply. When demand overpowers supply, the more people are willing to spend.

What other benefits are there to renting a property?

Having a tenant to cover your mortgage expenses is an added benefit when you rent instead of sell. More than likely, you have your own monthly expenses, and having extra income (potentially, even more, depending on how in-demand your property is) can help out tremendously.

Also, taxes. You can write off your mortgage interest, required property maintenance, utilities, and property insurance with renting. You can even deduct the depreciation of your property based on the year it was built.

Renting a property also comes with a known monthly income. Because your renter(s) will be paying you each month, you know what kind of cash flow to expect so that you can plan and spend with less worry.

What are the best areas to rent a property in Westchester?

Westchester County is a desirable place to live for New York City commuters and those that need to be close to the city without wanting to be in the city itself. It offers more space and more greenery while still offering plenty of the big city conveniences like public transit, thriving downtowns, and entertainment.

Along the eastern coastline, from New Rochelle up to Port Chester, are highly sought-after areas for those wanting picturesque waterside views. Similarly, on the western side of Westchester is the Hudson River, and towns like Yonkers, Tarrytown, and Ossining offer great properties.

Really, there is little wrong you can do in Westchester County, but renting in an area near water or public transit with direct access to New York City will yield the best results. To help guide you in your New York City real estate adventure, reach out to BARNES New York for the best advice and listings around.

Contact Us

Real Estate: Rental prices are skyrocketing in New York. Here’s why

After five consecutive months of rising prices, the average monthly rent stood at $5,058 in Manhattan last June. In the space of a year, real estate rentals in New York have seen prices soar by almost 30%. To understand this phenomenon, Rachel Brunet from LePetitJournal went to meet Yann Rousseau, Managing Partner at BARNES New York.

Read the article

Where should you buy an apartment in Manhattan?

There are more than 50 neighborhoods to choose from when you want to buy an apartment in Manhattan. Each has its upside and downside, its little quirks, and its own unique vibe. But, no matter where you choose, you’re bound to find a vibrant, thriving community brimming with bustle and life.

Wondering what neighborhood might be best for you? Below is a list of some of the best neighborhoods to consider when you’re looking for an apartment for sale in Manhattan.

Neighborhoods

Bowery

The Bowery was once a neighborhood for those who were termed at the time the “down and out.” The area was known for decades for its bars and flophouses. Since 1990, the area has been reviving and is now home to luxury high-rise condo buildings. Median price: $2 million*.

Chelsea

A primarily residential neighborhood, Chelsea was named after a neighborhood of the same name in London. Chelsea is a diverse neighborhood known as one of the city’s key art centers. The area’s homes consist of pre-war co-ops, historic townhomes, and luxury condo buildings. The High Line, an abandoned elevated railway that was transformed into a park, runs through this neighborhood. Median price: $1.4 million*.

Tiles showing Chelsea Local, located at the Chelsea market, famous food hall in the Chelsea district.
Night view of the High Line, the former elevated rail tracks repurposed as a park in the Meatpacking district.

Chinatown

First settled in the 1870s and housing the largest number of Chinese people in the Western Hemisphere, Chinatown is a vibrant neighborhood with restaurants serving fresh, authentic Chinese food. New loft-style apartments are being built on the edge of the area. Median price: $688,000*.

East Village

The success of this neighborhood’s art scene led to its popularity. East Village was home to artists and musicians in the 1950s and is filled with galleries, bars, and small museums. Median home price: $1.9 million*.

Financial District

Popular with those who work on Wall Street, Manhattan’s Financial District has a mix of walk-ups above stores, luxury high rises, and historic buildings. Most of New York City’s historical sites are located in this neighborhood. Median price: $800,000*.

Flatiron

Flatiron, named for the iconic Flatiron Building, is predominantly a commercial area. Housing consists of mostly newer luxury buildings with all the key amenities along with a few walk-ups. Median price: $947,000*.

Night aerial view of the Flatiron building in the Flatiron district.
View from the water on the Financial District skyline in the south of Manhattan.

Gramercy

Famous for its ivy-covered brownstones, Gramercy is an oasis amid the hustle and bustle of Manhattan. Its most famous attraction, Gramercy Park, is open only to members. There is some new construction, consisting mostly of older walk-ups and doorman buildings. Median price: $985,000*.

Greenwich Village

Known as a home for artists and bohemians, Greenwich Village was the birthplace of the counterculture movement on the East Coast. This historic neighborhood contains walk-ups, brownstones, and high-rises on Park Avenue and Fifth Avenue. Median price: $2 million*.

Hudson Yards

Hudson Yards is Manhattan’s newest neighborhood, and also the largest private development in the US. It boasts 18 million square feet of commercial and residential spaces with more than 4,000 homes. Median price: $6.8 million*.

Little Italy

The streets of Little Italy are lined with Italian eateries with their traditional red and white checked tablecloths. Most of the housing in this neighborhood are walk-ups over stores and restaurants, along with co-op buildings. Median price: $1.6 million*.

Street sign showing Welcome to Little Italy in the little Italian district, close to Chinatown in Manhattan.
Picture of the Vessel, the famous monument located in the new neighborhood of Hudson Yards.

Lower East Side

One of the oldest neighborhoods in Manhattan, the Lower East Side is known for its immigrant working class past. This affordable neighborhood is filled with mostly pre-war walk-ups and a few luxury high rises. Median price: $1.2 million*.

NoHo

NoHo (North of Houston) was a manufacturing area in the late 1800s. New luxury high-rises are mixed with walk-ups on side streets. NoHo is one of the most sought-after neighborhoods in Manhattan. Median price: $3.8 million*.

NoLIta

Like many neighborhoods in Manhattan, this one was named for its location―North of Little Italy. This four-block neighborhood is home to high-end chain stores, charming boutiques, and vintage shops. Historically Italian, NoLIta is now a diverse, trendy area with well-kept, pre-war walk-ups. Median price: $2 million*.

NoMad

NoMad (North of Madison Square Park) was named in 1996, but the area is much older. Europeans first occupied the area in 1686. Its housing stock includes historic brownstones, walk-ups, and new luxury high rises. Median price: $3.2 million*.

SoHo

SoHo (South of Houston) is one of Manhattan’s trendiest neighborhoods. Known for its cast-iron architecture, it’s home to artists and trendsetters. SoHo was once a powerful manufacturing center, and its former factories now house studios and art galleries. Living spaces are small and consist mainly of walk-ups and luxury co-ops. Median price: $5.4 million*.

TriBeCa

TriBeCa stands for Triangle Below Canal Street and features large lofts in converted warehouses and luxury mid-rise condo buildings along its quiet cobblestone streets. The neighborhood is known for its architecture and beautiful outdoor spaces. Median price: $5.6 million*.

Night view of an alley in TriBeCa, with lights illuminating the porches on the sides.
Typical New York residential brick buildings in SoHo

Two Bridges

Another historically immigrant neighborhood, Two Bridges is located between the Manhattan Bridge and the Brooklyn Bridge. Until recently considered a part of the Lower East Side, its housing stock is a mix of tenement-style walk-ups and high-rise mixed-income and affordable rental housing. Median price: $2 million*.

Upper East Side

Among the most affluent neighborhoods in Manhattan, the Upper East Side is a cultural center with some of the most famous museums in the world—the Guggenheim, the Metropolitan Museum of Art, and the Cooper-Hewitt Smithsonian Design Museum. Area housing includes luxury high-rise condo buildings, townhomes, and brownstones. Median price: $1.6 million*.

Upper West Side

Known for the American Museum of Natural History and the Lincoln Center for the Performing Arts, the Upper West Side is one of the greenest areas of Manhattan. It boasts both Central Park and Riverside Park. The current housing stock is made up of townhomes, co-op and condo buildings, and high-rise luxury buildings. Median price: $1.8 million*.

West Village

Once part of Greenwich Village, West Village was home to the American bohemian culture in the 20th century. Now a laid-back neighborhood with winding streets and cobblestone, it sometimes feels like a small European town. The streets are lined with historic brownstones in styles from Romanesque Revival to Greek Revival. Median price: $1.6 million*.

*Data from PropertyShark

The rise of Manhattan real estate

Real estate prices were near record highs in 2021, and it looks like that upward trajectory will continue. If you want to buy an apartment in Manhattan, now is the time. There is pent-up demand and only about five months of housing supply. The median sale price for a condo was $1.7 million in July 2022, up 4.4% higher than the same period in 2021.

If you’re looking for something a little less expensive, think about buying a co-op in Manhattan. Co-ops tend to be less costly and typically offer more space than condos, but the purchase process is a little more complicated. So take a look at both options and decide which is right for you and your situation, and contact BARNES New York when you feel ready to buy an apartment in Manhattan.

Contact Us

Where to find the best luxury real estate in New York?

New York City consists of five boroughs: Manhattan, Brooklyn, the Bronx, Queens, and Staten Island, and each has its own style and way of life. Sometimes, passing between the borders of each borough can feel like traveling to an entirely different state.

Each borough comes with its own historical significance, urban centers, and array of diversity. And New York remains one of the most popular places to live in America.

With popularity comes luxury living, a category where New York City is in no way lacking. With neighborhoods such as Noho, Hudson Yards, Tribeca, and Central Park, the options are limitless in luxury real estate in New York.

What about Hudson Yards?

Hudson Yards is unlike any other neighborhood in New York City. It is well known for its first time visiting New York experiences and its incredible and artistic architecture. It’s very close to Central Park and borders the Hudson River. Its abundance of luxury townhouses and luxury homes, and skyrise properties offer stunning views of some of New York’s most iconic buildings, the river, and Central Park. Some properties offer views of all three. In any case, you will have an incredible view of Manhattan to take in and enjoy.

Hudson Yards was top on the list in terms of median sales price for their luxury spaces, the Manhattan neighborhood coming in at $8.5 million.*

What about NoLIta?

NoLIta stands for North of Little Italy, and is a intimate neighborhood with a distinctly, unique charming vibe. You will find numerous boutiques and vintage shops, bakeries and pop-up art galleries throughout the area. Apartments can be hard to find, because the neighborhood is very small, and consists mostly of pre-war walk-ups, although there are a few newer doorman buildings and new developments.

NoLIta was second only to Hudson Yards in terms of median sales price for their luxury spaces, the Manhattan neighborhood coming in at just a shade under $7.5 million as of May 2022.*

What about Central Park?

Central Park is home to some of New York City’s most iconic views, so it only makes sense you will find a lot of luxury real estate around it. And the hundreds of highrises and historically-significant and renovated buildings that line the famous park, especially on its southern border, are the most sought-after properties in the city.

The neighborhood of Central Park South, located on the southern stretch of Central Park, is tiny. It is only three blocks long by two blocks deep, but it packs a lot into that small space. It is home to many of New York City’s picturesque views.

Luxury properties sharing a border with Central Park will be the most expensive in the neighborhood, but, on average, the sale price for properties here was just a shade over $6,645,500.*

View of Central Park and its pond in autumn, with luxury buildings and red trees.
Central Park at The Mall in New York City during predawn, with street lights on and orange leaves and autumn colors on the trees.

What is NoHo’s Style?

NoHo, or north of Houston Street, is a neighborhood within Manhattan and has an incredible view of Manhattan. The area has some of the city’s best critically-acclaimed restaurants and entertainment as well as designer boutiques. It’s been described as laid-back, but with something always going on—you will never be bored.

Housing-wise, NoHo’s well-known luxury buildings are some of the most highly-sought after in the city, and they are chock-full of architectural history or their own unique style.

NoHo is third on the list in median sales price at just over $5,150,000.*

Where is TriBeCa?

TriBeCa is located on the southern tip of Manhattan and is known for its industrial look. This portion of Manhattan has been restored and renovated while maintaining its original, more turn-of-the-century beauty. Historical lovers would be at home here. It has riverside views, notable restaurants, and plenty of sleek bars to fit a luxury lifestyle.

TriBeCa is also well known for its annual film festival, the TriBeCa Film Festival. Properties here, on average, go for a little above $3.2 million.*

Luxury kitchen, well decorated in a white, beige palette. Two round chandeliers are hanging from the ceiling, an island countertop with two stools is in the foreground.
Luxury bathroom of light brown marble, with a standing shower with glass panels and a bathtub.

Are there any luxury options outside of Manhattan?

Of course there are! The luxury apartments market in NYC is prevalent in more than just Manhattan. Of course, the options are a little bit more limited outside of Manhattan, and the surrounding areas don’t necessarily offer the same prevalence of luxury amenities, like fine dining or theaters, but they are there.

The borough of Brooklyn would be Manhattan’s biggest rival in terms of luxury living, especially DUMBO, with a median sale price of $2 million.

What neighborhood would you recommend?

Any of the neighborhoods mentioned above would be a good starting point when looking for luxury housing. But it’s nearly impossible to beat the views of New York City’s skyline that are available only in Manhattan—not to mention Central Park. With Central Park within commuting distance from anywhere in Manhattan, the area is really unrivaled.

To begin a more in-depth search into luxury real estate in New York, contact BARNES. BARNES New York is an international luxury brokerage that can help you find the best possible option for luxury living in the big city.

* Data from PropertyShark

Contact Us

What is the housing price in Queens?

Do you want to know more about the housing price in Queens? When deciding where to live, cost is a major factor to consider. Purchasing a home is a massive investment, so getting an idea of the prices for a specific area is important. New York has a reputation for small apartments with high rents, but this isn’t the case everywhere. There are many houses, decently sized apartments, condos, and more for sale in Queens.

Queens traces its roots back to the 1600’s, when it was founded as one of the original counties comprising the Province of New York. From these humble beginnings, it has since exploded in growth and population. Queens is currently the second-most populated county in New York state, also making it the second-largest borough in all of New York City.

What is the state of the Queens real estate market?

In 2020, the Queens real estate market slowed. However, it never fully stopped, which has allowed a quick recovery and rapid growth. In quarter 1 of 2021, the median sale price was half of what it had been a year prior. The market then boomed, with the second quarter of 2021 median sale price being more than twice what it had been the previous year. The median fell by roughly $200,000 for the remaining two quarters, but prices were still much higher than they had been in 2020.

In 2020, there were a total of 9,857 real estate transactions across the entire year. The most transactions occurred in quarter 4, with 3,179, and the fewest number of transactions, 1,610, happened in Quarter 4. In contrast, 2021 saw 14,922 real estate transactions. Quarter 1 saw the fewest, with 3,282, and Quarter 3 saw the most, with 4,350. Even when the Queens real estate market was at its lowest, it managed to outshine 2020’s market.*

As of May 2022, the median sale price in Queens was $545,000, with a price of $615 per sq. ft., and 1,064 transactions, while the second quarter of 2022 saw 4,178 sales, a 18.8% year over year.

The pandemic caused many people to be stuck in their homes for long periods of time. This gave people a new perspective on their spaces and drove demand away from crowded places like Manhattan and toward more open locations like Queens. Small apartments are no longer preferable since being quarantined inside a small space can become uncomfortable quickly. As a result, demand for luxury houses for sale in Queens increased, which drove prices up in tandem. The median house sale price in Queens in May was $798,000, up 6% year-over-year, while coop and condo prices were down 3%, showing a need for more space and less cramped, confined apartments.

Queens is the fourth most expensive borough in New York City. This, alongside its beautiful neighborhoods and cultural diversity, caused the demand for housing in Queens to grow even before the pandemic, and 2021 only saw the demand soar to new heights. As a result, housing prices are up, and rents are climbing.

*Data from PropertyShark

View of the 7 Express train subway line in Queens, with the Manhattan skyline in the background during sunset.
A picture of the Unisphere, a spherical stainless steel representation of Earth located in the Meadows–Corona Park in Flushing, Queens.

Where is the best place to look for real estate in Queens?

When looking to purchase real estate, there are plenty of diverse neighborhoods to choose from. If you’re looking at apartments for sale in Queens, consider looking in Astoria. With its heavy Greek influence, a Little Egypt, and an abundance of family-owned businesses, Astoria proves to be an enticing choice. This is compounded further by the combination of affordable and high-end housing and a growing reputation for fine dining. House prices here range from $250,000 to well over $2 million. There’s somewhere for you here, no matter your budget.

When looking for condos or co-ops, Long Island City and Jackson Heights spring to mind. Jackson Heights has quiet and historic residential areas, such as the Historic District, and busier commercial areas that provide the neighborhood with a bustling nightlife. It can be busy, but there is a variety of different cultural restaurants from places like Tibet and India that make the hustle worth it. Home prices here range from $300,00 to under $1,500,000. Long Island City can be quiet during the day, but also has a vibrant nightlife with concerts, weekend markets, and cocktail bars. With a past of industrialism and newer modern additions, the city’s luxury high-rises each have their own unique flair. The house prices here tend to be closer to $1 million, with most being higher.

If luxury is the goal, Jamaica Estates, a subsection of the larger neighborhood of Jamaica, and Forest Hills Gardens are the best choices. Jamaica Estates is a beautiful neighborhood with a diverse mix of cultures. The stunning sights of the colorful city, elaborate architecture, and stunning tree-lined streets mean that homes here are priced between $1,000,000 and $3,000,000. Forest Hills Gardens is also one of the most expensive neighborhoods in Queens. The quiet residential districts surrounded by parks and gardens have easy access to The West Side Tennis Club, resulting in house prices that can be quite extravagant. While you can find homes of all prices, many are near or over $1,000,000, with some being nearly $4,000,000.

What to consider when looking in Queens?

Vie of Queens and the high rises of Long Island City downtown borough skyline at dusk.

When looking at real estate in Queens, knowing what you’re looking for will help dictate the prices you should expect. When looking at the neighborhoods, homes typically range between over $200,000 and $4,000,000. This large range shows how diverse Queens is.

With more affordable homes found in Jackson Heights and Astoria and much more expensive offerings in Jamaica Estates, Long Island City and Forest Hills Gardens, there’s someplace in Queens for your budget. However, there are many other neighborhoods to consider. Each one provides different cultures, views, amenities, and more.

The western portions of Queens have beaches and beachfront properties. Places like Astoria and Flushing are rich in museums and culture. Other neighborhoods are filled with trees. Every one of them has a unique mix of cultures. Whether you’re looking for a quiet, expensive property or an apartment in a busy city, Queens has something to pique your interest. If you’re looking for a space to call your own, BARNES New York can help guide you.

Contact Us

WhatsApp
en_USEnglish
fr_FRFrench pt_BRPortuguese es_ESSpanish ru_RURussian elGreek it_ITItalian he_ILHebrew nb_NONorwegian en_USEnglish