Category: New York Real Estate

The French and Francophone population of New York has always had a soft spot for the north of the region. Perhaps thanks to the less stressful and better quality of life, to the exorbitant prices of housing in Manhattan, or to the international schools in the region. Be that as it may, tens of thousands have invested themselves in the corners of New Rochelle, Larchmont, Mamaroneck, Rye. You can tell us which one you prefer after the visit.

Westchester County, a neighborhood with a bright future

We know that the prices of the 5 neighborhoods of New York City reach very high peaks so one option – or an obligation rather – is to consider the surrounding areas in greener areas but a little further from the city center. Moreover, there is a clear increase in real estate sales in neighboring counties, Westchester for example. Indeed, in the third quarter of 2017, sales increased by 59% in this area and the average house for sale in Westchester spent only 10 days on average in the market. In addition, New Yorkers represent half of those arriving in the county … and a large number of French are certainly part of the other.

In this county, several cities are on the rise.

New Rochelle for example, quite urban but with beautiful parks, welcomes a well-off population, young (average age of 37), often liberal professions who likes to enjoy the many shops and ethnic restaurants and gourmets.

The village of Larchmont, right next to it, invites one to a quiet life, at the edge of the water, and with numerous and green parks, like Manor or Flint Park. It is not by chance that the village was originally a beloved New York vacation destination.

Rye also attracts New York families or expatriates who want to be close to Manhattan without experiencing the inconvenience everyday. With a population of 16,000, the city offers an excellent compromise in terms of quality of life and dynamism.

Why the French live in neighborhoods north of New York City

The village of Larchmont, located in the city of Mamaroneck, has a Franco-American school, known to many Europeans. The real estate is very varied with pretty houses with gardens, more classic co-ops or condos. Most Larchmont homes are priced at or above $ 1 million. Other older properties, such as ranches and colonial homes, are worth about half a million dollars. In general, real estate costs about the same as homes in Upper Westchester or Putnam. Larchmont is home to a wealthy population and has a large number of long-time residents, so much the area is nice and quiet, just 35 minutes by train from NYC.

Rye is in the same genre, with a mix of dynamism and tranquility characteristic of small towns bordering New York City. Rye is located near the sea and Oakland Beach, which offers many family activities on sunny days. Outdoors, the Rye Nature Center invites for beautiful hikes and The Edith Read Wildlife Sanctuary offers acres to admire dozens of bird species.

Mamaroneck remains more affordable in terms of housing even though the city is proud of its splendid houses at the edge of the water. With 4 primary schools and a secondary school, families can provide full schooling for their children. Mamaroneck has its own cinema, newly renovated library, the Emelin Theater, the beach, an ice rink, a large number of restaurants and shops, Hampshire Golf Club, and of course, the harbor and yacht clubs. Finally, if you were told that all this is 40 minutes from NYC’s Grand Central Station, what would you say? That you are booking your appointment to visit now.

Whether for budget reasons or for wanting to live in a less stressful and greener setting than Manhattan, everyone has a good reason to want to buy a property in Northern New York, especially in Westchester County.

What types of property can you buy in cities such as Rye, Larchmont, Mamaroneck or Irvington? And at what price? Here’s what you need to know and what is offered.

Northern New York: A healthy real estate market

The real estate market in this region has indeed grown for 5 years surely because many New Yorkers struggle to find a property, a co-op or a condo in their budget in Manhattan, even in Brooklyn. Thus, 10 days is the average time that a home remains on the market in cities such as Scarsdale, Greenville, Irvington or Rye. In addition, the fact that a significant number of tenants were excluded from the New York City market prompted developers to build new multi-family properties in communities south of Westchester, such as Yonkers and New Rochelle. With supply and demand in constant growth and sales momentum, it is a healthy real estate market that many New Yorkers – and French people – find in all these small towns or villages in northern New York.

Northern New York: What to buy and at what price?

In 2017, the median selling price of a single-family home in Westchester was $ 625,000, but prices vary considerably from city to city. For example, in Yonkers and Elmsford, the median price is between $ 430,000 and $ 470,000, while it is $ 1.6 million in Rye. Popular cities such as Larchmont, known for its charm, Scarsdale and Edgemont, which have several schools, are attracting more and more buyers, and even Westchester’s luxury housing market has picked up, with sales rising, and many upscale properties available.

For a $ 500,000 budget, head north

It’s better to go for a property north of Westchester if you want to buy a single-family home, because in cities like Larchmont or Bronxville, you’ll only get 2-bedroom co-ops for that price.

For a budget of one million dollars, a beautiful house

In most places, a million dollars gives you the right to a beautiful house; In Westchester, expect something a little less fabulous (we stay in New York, all the same). You will certainly find large houses, but many are not in their early youth and if you add the condition of being in a very popular city, your property will surely be small. You have to think about reserving a part of your budget for renovation work. The good news is that the grounds are – much bigger in the county and that for that price you will have a nice garden.

For a budget of 3 million dollars, a superb property

In short, you get what you pay for and when you pay $ 3 million, you have a lot, even in Westchester.

If you are working with a budget of $ 3 million, your housing options have expanded considerably, all over Westchester. “If you are looking for a house in Armonk, Chappaqua or Briarcliff, for example, you can have a newly built luxury home with a garage for three cars and even a pool.”

The heart of New York City is… to the west. Specifically in Midtown, between 34th and 59th Streets, 8th Avenue and the Hudson River. The heart of New York City is Hell’s Kitchen.

Convivial, culturally bubbling, full of history and authenticity, this neighborhood embodies the very essence of New York. Hell’s Kitchen has such a unique atmosphere that you absolutely need to be shared.

A nice neighborhood where life is good

A long time ago (80’s), going for a walk to Hell’s Kitchen was a guarantee to be lost in this sort of Wild Wild West, a risky adventure. But that was before. Now, wandering the pretty shaded streets of this neighborhood is a real pleasure and Hell’s Kitchen is a great place to raise children. Moreover, we have some more good news, the neighborhood has several public primary schools. And it doesn’t end there; this district, also called Clinton, is a great place for shopping; packed with major brands, vintage shops, small shops and even flea markets, you’ll be spoiled with choice. Even though it’s perfect for a family life, Hell’s Kitchen is also very popular with young active people who like to relax in the evening because the district offers an incredible variety of restaurants (and all budgets), bars and rooftops.

The Hell’s Kitchen Real Estate Market

The neighborhood has experienced rapid gentrification in recent years. New buildings are under construction and old ones are being converted into high-end residences. The development of Hudson Yards and the High Line just to the south and the addition of the Time Warner Center to its northeastern border have spurred growth. Prices have risen but remain generally lower than those of surrounding neighborhoods.

It remains rather difficult (but not impossible, especially with an expert BARNES at your side) to find bargains because apartments in older buildings are often renovated to benefit from higher rents.

Although many of the cross streets have low buildings due to height restrictions, the 42nd and 57th Streets have a series of towers, including one that rises to 605 West 42nd Street and has more than 1,100 rental units. pyramid-like building on 57th Street West, between the 11th and 12th Avenues which has 709 rental units. In addition, the recent conversion of a New York Telephone Company building from 1930 to a Stella Tower luxury condo. Its largest penthouse is worth nearly $14 million.

If you want to be more reasonable, that’s about what to expect when you want to live in Hell’s Kitchen: The first prices for studios are about 300,000 dollars, the one-bedroom apartments at 450,000 dollars and the apartments from two bedrooms / two bathrooms to about a million dollars. For rentals, start at $1,800 per month for a studio, $2,000 for a room and $ 2,400 for two bedrooms and a bathroom.

If there is a New York neighborhood that deserves to be talked about, this is it. NoLiTa (North of Little Italy, for those who have just arrived) is a Manhattan village that wonderfully marries originality, chic, charm and authenticity both in the beautiful facades of typical brownstones and in its way of life. A life the European way.

Village life in the heart of Manhattan

Name another place more aware of the trends…. Impossible. NoLiTa always has a head start, on New York, on us and even surely on you. High fashion, with the installation of many independent designers and the proliferation of small shops, the district boasts a unique and privileged art of living. Alongside the concept stores and vintage stores, craft brands, young artists and designers have opened their flagships while ephemeral shops, always at the forefront of the trend, follow one another at a rapid pace. Some say that it is a mere copy of its neighbor SoHo, yet NoLiTa claims a unique and privileged lifestyle, sought after by a young and trendy population, families who want a standard of living and a good number of personalities or stars such as Martin Scorsese, singer-songwriter John Mayer, musician Moby or for a long time, David Bowie.

As you walk through the neighborhood, you will see the magnificent St. Patrick’s Cathedral at the intersection of Mulberry, Mott and Prince Streets. In 2010, she was honored to become The Basilica of Old St. Patrick’s Cathedral. A few steps away, another monument symbol of NoLiTa, the Puck Building, which originally housed the headquarters of the former Puck Magazine.

Ephemeral art galleries and well-established galleries contribute to NoLiTa’s rich cultural life by offering exhibitions, vernissages and artists’ presentations throughout the year.

The real estate market of NoLiTa

We will be honest with you, living in a neighborhood like NoLiTa comes at a price and it is not cheap. For example, 53% of residents pay more than $2,000 a month for a rental (while the national average is around $950) and rent is less than $500 for only 9% of people. In terms of real estate purchase, prices are still quite high, but the acquisition of real estate property at NoLiTa is a safe bet. For information, the average purchase value of a property in the neighborhood is $661,837 (compared to $184,700 national average). However, the demand is constant and many couples or families dream to settle there to live the daily magic of this particular atmosphere.

The offers are sparse and the renewal of the owners quite low, because when one is lucky enough to find a property to buy in NoLiTa, one keeps it! Good news, NoLiTa’s real estate market prices have not (yet) reached the heights of its neighbor SoHo, so it’s time to get started and buy!

Contact your BARNES consultant, New York real estate market specialist, and take advantage of the professional experience and international network of this leader in luxury real estate to find the apartment of your dreams in NoLiTa.

Finding an apartment for rent in Brooklyn can be very easy, although one needs to know the good neighborhoods, those where you can still do good business and even find the gold nugget, and learn about the rental property market. Here are some tips for making the right choice and being a successful renter.

Find the best neighborhood to rent an apartment in Brooklyn

Most of the properties for rent are marketed through real estate agents. So the idea of ​​looking for an apartment on your own, without an agency is not necessarily a good idea. Indeed, flats for rent in Brooklyn are taken very quickly, often in that same day and it is not uncommon for an owner to receive several offers for a property. The use of a professional who will know the neighborhood, prices, procedure is highly recommended.

Brooklyn has a diverse range of neighborhoods, more or less expensive, generally appreciated for their calm and relaxed, close to amenities, schools and metro, it’s up to you to choose because your best neighborhood is not the neighbor’s.

Williamsburg

The neighborhood of reference for all those who love the dynamism without the frenzy of Manhattan. Trendy but calm, bohemian but chic, urban but green, Williamsburg brings together a well-to-do population of promising young workers. We are talking about you of course!

Dumbo

Despite high prices, the district of DUMBO remains highly sought after by young active tenants, with a comfortable budget. Located not far from Manhattan, it has all the conveniences of a modern and trendy neighborhood with its dozens of shops, gourmet restaurants and rooftops that offer breathtaking views of the skyscrapers.

Brooklyn Heights

This “neighborhood” remains a coveted neighborhood of families looking for a property to rent in Brooklyn. It is true that this neighborhood has it all: dynamic but quiet, historically very rich with its many architectural styles and churches, it also has cultural institutions such as Brooklyn Historical Society and the Heights Players. Finally, it enjoys an ideal location near downtown (Downtown Brooklyn). Only problem, a rental offer much lower than the demand, always high year after year.

Carroll Gardens

This is the favorite neighborhood of many French, perhaps because it is full of European shops, gourmet pastries and especially the variety of schools that offer French education: including the excellent public school PS 58 The Carroll School and the private school International School of Brooklyn.

Park Slope

Families looking for an apartment to rent will love the peace and greenery of this neighborhood, which offers beautiful traditional red brick townhouses as well as more modern buildings. The whole is very pleasant, especially because of the many parks or all the amenities imaginable. Beware, the offer does not always follow a constantly high demand, and prices are affected.

How to go about renting in Brooklyn?

First you need to know that the typical term of a residential lease is 12 months, but you may find it shorter. In this case, the apartment is often furnished.

In addition, you must be able to prove that you earn enough, in general, the amount of monthly income is equal to 4 times that of the monthly rent. Ideally, your compensation should be local, at least American.

There are exceptions and temperament to these rules and it is that the choice of a good real estate agent, working for a serious and recognized agency (We speak of BARNES, of course) can make all the difference. It is therefore important to seek advice from an expert who can refer and negotiate effectively for you.

The agency fees, or brokerage fees, up to 15% of the annual rent, are usually paid by the tenant, but there are cases (or neighborhoods) where the owner who has to settle them. Metoramas, a small cord from your pores, your nearest friend, or your owner, or your number or meter, should perhaps be contacted.

Once you have found the apartment of your dreams, you must act quickly: gather all the necessary documents and prepare the initial amount to pay in order to block the property, until the signing of the lease and the delivery of the keys. For the paperwork, we leave you in the good hands of an expert BARNES!