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Focus on the Hamptons, the favorite destination of New Yorkers

It’s officially summer season for the Hamptons, an area northeast of Long Island, New York, a short drive from Manhattan. It’s New Yorkers’ favorite place to escape the chaos of the “Big Apple” and relax in the sun, or party in the hippest spots of Southampton and Montauk …

The Hamptons have been very popular for years. Its villages provide an ideal mix for New Yorkers during the summer: oceanfront, rural atmosphere, historic and exclusive charm, all within a convenient distance from New York. Indeed, from Manhattan, it is easy to get there by train, car, bus, or even helicopter. If the people and the local atmosphere are reminiscent of New York City, the area is much more laid back and pleasant for the summer.

Many famous people own vacation homes there, and the absence of paparazzi and privacy make the place conducive to lounging and relaxation. For others, the Hamptons are characterized by world-class beaches, renowned restaurants, and a very lively atmosphere …

WHEN TO VISIT THE HAMPTONS?

Visitors generally start arriving at the Hamptons from Memorial Day (May); but the real high season is from July to Labor Day (early September). This is where the “social scene” is at its peak, with various festivals and events … You can also spend a weekend in the Hamptons in the off-season (September – October), when the villages are less crowded and the weather remains mild.

HOW TO GET TO THE HAMPTONS?

The easiest way from New York is to drive. This is a 2-3 hour drive from Midtown to East Hampton Village, depending on traffic. Many visitors also get there by bus, via the famous “Hampton Jitney” or the “Hampton Luxury Liner” which stops in major hamlets and villages.

Another option is to take the LIRR “Long Island Rail Road” train. Local trains can take up to 3 hours to get to Montauk from Penn Station. There is, however, an express train serving the Hamptons every Friday afternoon in the summer.

The quickest option is to get there by helicopter from Manhattan, avoiding traffic jams and reaching the Hamptons in less than half an hour; finally, for those who can afford it …

WHERE TO STAY AT THE HAMPTONS?

Vacation Rentals: The best way to spend summer in the Hamptons is to spend a weekend, a month, or all of the summer in a house or apartment. August is the most expensive time to book; it’s rare to find even a modest rental for less than $ 7,000 per month, and prices for more luxurious homes even hit six figures!

Hotels: The Hamptons remain limited in terms of hotels. Montauk is the place with the most choice for finding rooms and a variety of options.

Camping: It is also possible to pitch a tent in Montauk’s Hither Hills from $ 35 per day (if you book early). Campground therefore remains the most affordable option to spend the summer in the Hamptons …

Do not hesitate to contact us for more information.

Living in the New York Financial District, the economic heart of the world

The Financial District has long been a banking district, frequented Monday to Friday only, by suits and wolves (the Wall Street kind). Somewhat neglected by families, investors and New York residents, the FiDi had a bad reputation. But that was before. The new buildings now sprout like mushrooms, the day is hectic but security is assured, in short it is now a good choice to reside in the economic heart of the world; living in Fidi has never been so trendy.

The Financial District, a neighborhood rich in resources

Known as FiDi by locals, this neighborhood has almost single-handedly created the image of New York City as a bustling hub of business and commerce. In addition, there is the New York Stock Exchange, the Federal Reserve Bank and, of course, Wall Street. Although it is primarily populated with CEOs and entrepreneurs, more than 60,000 people live in the Financial District (and this is just the beginning).

A pleasant living environment, connected and near the water

This area is bounded by Chambers Street to the North, West Street … to the west, the FDR Drive to the east and the water to the South … Despite its location at the tip of Manhattan, Financial District is extremely well connected by subway, bus, and express train. So you will be at the tip, yet conveniently close to everything.

An indisputable asset of FiDi is its proximity to Hudson River and East River, which, in addition to bringing a delicious breeze on sunny days, offers you the opportunity to enjoy the pleasures of water. Whether you own a boat or not, Pier 15 and 17 are fantastic places to spend a day. You can kayak on the Hudson, admire the Statue of Liberty while watching the ferries, then later, head to the luxury shops of the Fulton Center or stroll along Board Street for a bit of shopping (well-deserved). Relaxation guaranteed.

The Financial District is also a neighborhood with a dynamic nocturnal life and this Fidi experience begins on the plate: several famous restaurants share the culinary scene of the district and there are dozens of drinking options a land in (high) terrace.

The thriving Fidi real estate market

The real estate landscape of the neighborhood is rather vertical with majestic skyscrapers that jump into the sky and beautifully renovated historic buildings. In fact, the 20 Exchange Place or the Woolworth Building or the newest One World Trade Center are known and admired worldwide. In addition, the Financial District has street sculptures of world-renowned architects, such as Oculus on Greenwich Street, or Charging Bull on Wall Street.

It is in this magical and cozy environment that you will have the chance to live daily if you buy an apartment in the Financial District. Many offices have been converted into beautiful apartments, offering services that rival luxury and modernity. We also see the birth of dozens of real estate projects, the residence of The Beekman Residences or 20 Pine, notorious for these sublime Armani fixtures, or the penthouses of 125 Greenwich Street with sublime views of the skyline of Lower Manhattan, the Statue of Liberty, or Ellis Island in the distance. All of these condos offer private access to the subway, state-of-the-art gyms, a billiard room, jacuzzi and sauna.

Strong and varied rental offers

True, the Financial District is an expensive neighborhood, but fortunately, the rental offer promises everyone to find the apartment they need. Good news though, most of the new apartment buildings and condos are perfectly arranged, offering spacious and bright common spaces and are equipped with a gym, a doorman 24/24, swimming pools, and all other comfort you can imagine. Put aside between $3000 to $5000 for a beautiful T1 and its breathtaking view. To rent, larger spaces are rarer, but with a BARNES consultant at your side, nothing is impossible!

Buying an apartment in Greenwich, “The Village” of Manhattan:

It may be because of its narrow wooded streets or because of the arc that stands in the middle of Washington Square Park in the same way as its Parisian counterpart, that you believe yourself to be in Europe, taking a stroll. However, you really are in Greenwich Village, the historical neighborhood of New York City, the cradle of the counterculture movement of the 60s. Mark Twain, Andy Warhol, Bob Dylan and also Edith Wharton or even Eugene O’Neill have left their traces here and in this eclectic mix of genres and personalities, a cultural, artistic, and architectural richness emerges, unique within its field. Buying an apartment in “The Village”, is a deliberate choice, a state of mind.

The Treasures of Greenwich real estate

You will not find it anywhere else: Greenwich Village possesses an exceptional variety of housing types. Pre-war homes with incredible charm, luxurious lofts with doormen, tiny studios for the many NYU students, apartments of all sizes fully renovated in the famous brownstones, the red brick houses that gives a crazy character to this district. Even the most difficult and the most demanding will be satisfied with the many contemporary constructions, nestled behind pretty gardens and perfectly-cut trees. Everyone finds their home in the Village. Purchasing a property and specifically a property in Greenwich is always a great idea and we show you why.

A dynamic real estate market

Greenwich Village is on the rise, but that’s nothing new. The purchase of a condo is a wise choice for those who prefer an urban lifestyle, all the while appreciating a green setting and proximity to beautiful parks. The number of apartment purchases are steadily increasing and the average amount of transaction type is less than 1 million dollars. However, we do find more expensive, much more expensive, if one needs a space in a splendid loft, or if your extensive family wants to live comfortably and in peace in a luxurious condominium. While real estate prices continue to climb, we can still find bargains, especially with the help of a real estate agency that is well established and who works with trusted professionals and experts in this area. Therefore, buying an apartment in this neighborhood is a safe investment, a stable investment with which you can sleep soundly.

The Village, a neighborhood with countless assets

A young neighborhood, in harmony with its past

With more than 1,000 buildings preserved from the pre-war period, Greenwich Village is a district that has kept all its charm. Moreover, each exterior modification on the 4300 buildings of the Village must be submitted for approval from the Commission for the Preservation of Monuments of the City. Yet the district is young and dynamic, the proof in the presence of two famous universities: New York University and The New School. In total there are more than 60 000 students who populate the Village, live in the pretty studios and enliven the streets of this district.

A connected village, centralized … but so peaceful

The beauty of The Village is in the endless presence of vegetation, which brighten up the impeccable streets and provides shade to the delight of the wandering pedestrian. Another appealing feature of Greenwich Village is its proximity to other vibrant areas like Soho, West Village and Chelsea

In addition, it is extremely well served by the metro, with all lines from A to M, to explore the four corners of the Big Apple. No doubt, you will be at the heart of activity!

Manhattan Market Figures – Second Quarter 2019

The Manhattan real estate market is once again bringing mixed news for the second quarter of 2019. Benefiting from the delivery of many new projects, price indicators and number of sales are on the rise, yet masking a general trend of market correction to the benefits of buyers.

Sales increased year over year for the first time in two years (+ 5% from 2018). Over 3,300 sales were made this quarter, totaling $ 7 billion (+ $ 1B from 2018).

It is, however, too early to celebrate a recovery, as many sales this quarter are actually off-plan sales (nouveaux développements / sponsors), signed during the previous quarters. Note also that the entry into force of the new tax law on July 1, 2019 prompted many buyers to close this quarter (especially in large budgets; more details here). The contracts signed this quarter, the most reliable indicator of activity, are however stable compared to the second quarter of 2018: acceleration in April (consistent with the tax reform two months later), followed by a drop in May and June.

At the same time, the already high inventory has continued to grow, exceeding 8,000 mandates for the first time since 2011. Price cuts continue, bargaining margins increase; also, the average duration on the market reached its highest level for 6 years.

On the other hand, the median price hit a record high of $ 1,225,000, and the average price its two-year high at $ 2,119,000. These figures, contrary to the bearish market trends, are inflated again by the new developments delivered this quarter, when the contracts had been signed well before, in a better market context. Thus, the price per square foot remains almost unchanged compared to the same quarter of 2018 (and would even have fallen without this influx of sponsor sales).


Some important numbers

  • Increase in the number of sales for the first time since 2017;
  • Inventory progress for the seventh consecutive quarter;
  • New record for median selling price;
  • New developments have taken their largest market share for 2 years;
  • The new developments show their smallest average sales area for 6 years;

Co-ops – Median price:
Studio : $425,000
1-BR : $720,000
2-BR : $1,300,000
3-BR : $2,335,000

Condos – Median price:
Studio : $584,000
1-BR : $1,150,148
2-BR : $2,160,000
3-BR : $3,842,500

Live on the West Side of Manhattan

No breaking news here. For years, real estate buyers in Manhattan have faced this age-old battle: East or West?

While the East Side remains a time capsule of the city’s traditional elegance and glamour, the West Side offers residents a cosmopolitan ambiance, a laid-back sophistication, and a stylish edge that embraces modernity in a variety of trendy neighborhoods coveted by many around the world.

Your own West Side Story

To live on the West Side of Manhattan is to remain forever young—and relevant—while welcoming the calmness, security, and stability that maturity brings. Singles, couples, new and well-seasoned families adore living in the chic neighborhoods between the Hudson River and Central Park—and for good reasons.

From uptown to downtown, the list of the most popular places to live on the West Side include the neighborhoods of the Upper West Side, Midtown West, Hell’s Kitchen, Chelsea, the West Village, Tribeca, and even Battery Park down below. While each offers its own distinct atmosphere and allure, they are unified by a culturally-rich history as home to artists and rebels, a high quality of life, and an assortment of high-end properties in refined residential buildings dotting the grid of Manhattan.

The luxury real estate market on the West Side of Manhattan offers a wide variety of real estate: renovated warehouses, old-red-brick low rises and brownstones to modern high-rises and exceptional new residential complexes overlooking the river and even further to New Jersey. You’ll find that almost all of these luxury residences offer premier amenities, such as gyms and home theaters in-house or just steps away.

For the artist or the executive, the true beauty of living on the West Side is that you can make it your own, with the big city at your whim.

Institution meets innovation

Old and new explode on the West Side of Manhattan. From any point, you have access to New York City’s most famous cultural attractions: Time Square, Carnegie Hall, the Lincoln Center, the Museum of Modern Art, the Museum of Natural History as well as the world-renowned art spaces like the David Zwirner Gallery, Matthew Marks Gallery, and Tyler Rollins Fine Art. Your artistic fix is just around the corner.

Residents of the West Side love having options to indulge greenery, between New York City’s largest and most impressive lung, Central Park, and other more intimate green spaces, such as the charming Shakespeare Garden; the waterfront Riverside Park; and The High Line, an incredible innovative 1.45-mile “elevated linear park” built on top of the old New York Central Railroad built in 1847, offering strollers and joggers a unique experience surrounded by a melange of public artworks and architecture, both contemporary and historical.

West Siders tend to catch with friends over a cocktail at trendy bars and restaurants in the neighborhood. For a fanciful outing, you have the swanky PHD Rooftop Lounge and the lively 1OAK club. But if you plan to bring the kids’ along, head to the savory Poseidon Greek Bakery or Chelsea Market, a gourmet food court.

Speaking of the little ones, rest assured they are in good hands on the West Side. Public, private and parochial schools—such as NYC Lab School, Guardian Angel, William T. Harris School, among others—offer full academic curriculums in the big city and beyond.

We’ll end with a shopping tip, and one of Manhattan’s newest innovations: The brand new Hudson Yard is a must-see to shop classic big-name brands and trendy fashion-forward boutiques; not to mention its striking architectural Vessel.

For all other inquiries about living on the West Side, contact a BARNES New York consultant.

Buying an apartment in Manhattan: Condo or Co-op?

Deciding to buy an apartment in Manhattan is the easy part. Among the most prestigious real estate in New York City, choosing between a condo or co-op building can be a challenge.

But, fear not! In this article, we define these two types of property ownership for highly sought after real estate in New York City and help you determine which is the right choice for you.

Condo vs. Co-op: An overview

First thing’s first, this division is a feature unique to the New York City real estate market. While approximately 75% of real estate in New York City are co-ops, more condos are active on the market. So even before drafting up their criteria, it’s necessary that potential buyers know the answers to these two fundamental questions: What is a condo? And what exactly is a co-op?

A condo or condominium allows buyers to acquire full ownership of an apartment in addition to a percentage of the building’s shared areas. At closing, buyers receive a deed, as if buying a house.

A co-op or housing cooperative only allows buyers to acquire shares in the corporation, which functions as the residential building. Keep in mind that the size of the share reflects the size of the unit that the shareowner will occupy. At closing, buyers receive a proprietary lease, detailing the share owner’s right to live in a particular unit or apartment.

Luxury condos and co-ops do not differ physically and offer the expected amenities: doorman, in-building superintendent, concierge, storage, etc. However, the more upscale the building, the more upscale amenities, such as daycare centers, spas, gyms, dog facilities, etc. Of course, these factors will depend on the Manhattan (or perhaps even Brooklyn) neighborhood you choose to buy in and your budget. A crucial differences lie in the fact that a condo is considered “real property” and a co-op share personal property”.

Should you buy a condo …

Long story short, condos are a relatively new invention of the New York City real estate market and most often found in Manhattan’s new hip neighborhoods—such as the West and East Villages. As a result, they tend to benefit from recent construction and a more modern layout and design.

When compared to the co-op application process, potential condo buyers face much less scrutiny. There is a board of directors, but they only have the “right of first refusal”. In a nutshell, this means that they only have two options: 1) To approve the buyer or 2) Buy the condo themselves. Additionally, condos are much more open to international investors, as there are much fewer restrictions on foreign funds financing the acquisition. Though each association is different, condo owners are more or less permitted to put their unit on the rental market, to be leased and subleased.

When it comes to spending, condos are on average more expensive than co-ops; yet, they offer more lenient down payments of only 10% of the purchase price. Also, consider closing costs and additional fees: title insurance for both lender and purchaser; title searches, recording fees, transfer tax, mansion tax, etc. And since condo owners purchase a portion of the communal areas, they are also subjected to common charges, covering landscaping, paying staff, and some utilities.

Conclusion: Buy a condo in New York City if you are looking for flexibility and limited regulations, you have a higher long-term budget, and a revolving door of new neighborhoods won’t worry you.

… or a co-op?

Conversely, co-ops are concentrated in historic, often pre-war, buildings in older yet more centralized residential neighborhoods, like the Upper West Side or the Upper East Side along Park Avenue, for example.

You might have already heard the rumors, co-op boards are notoriously tough as applicants are held to the highest standards. Potential buyers are required to share financial information and employment verification, as well as a background check. Co-op building’s rules and regulations are every bit as rigorous though varied, with heavy restrictions on renting out apartments for long periods of time. International buyers, we’re sorry to say that co-ops are known to reject oversee funds.

The down payment for co-ops can reach anywhere from 20% to 50% of the purchase price. Don’t fret, these prices are generally lower than condos. Additional costs to consider are overall much lower than condos, however, shareowners are still subjected to the mansion tax and relatively high mortgage fees. Co-ops are not excuses from maintenance charges, which are nearly the same as condos.

Conclusion: Buy a co-op apartment in Manhattan if you are looking to plant roots or for long-term investment and pride yourself in being an open book.

In any case, contact a BARNES New York consultant to buy an apartment in Manhattan and decide which type of property ownership is ideal for you.

Conferences June 2019 – Investing or setting up in New York: how to take advantage of the opportunities of the current market

Throughout the month of June 2019, BARNES New York organized several conferences in New York, London, Paris, Geneva, Cannes, and Saint-Tropez. We would like to thank all the participants as well as all those who contributed to these events. A real success with more than 250 people registered, we hope that these conferences were at the same time informative, useful and pleasant; the primary objective of such meetings being to inform you about New York real estate, both from a process point of view and market information. Whatever your project (acquisition, investment, rental, sale, etc.) our team is at your disposal and will be happy to assist you.

Please don’t hesitate to ask us for more information on New York real estate.


June 4, 2019 – New York, on the rooftop of The Caledonia, in the heart of Chelsea. In collaboration with Betty Benzakein, Premier Mortgage Consultant at HSBC, Richard Ortoli, lawyer specializing in real estate law and international taxation, and French Morning.


June 18, 2019 – London, exceptional property showcasing a superb bespoke interior, a short walk from Buckingham Palace. In collaboration with BARNES London, Maître Richard Ortoli, and Guillaume Tardivat, account manager.


June 19, 2019 – Paris, in the heart of the Champs Elysées in an exceptional property with a 360-degree view of Paris. In collaboration with Master Richard Ortoli.


June 25, 2019 – Geneva, top floor of the Fédération des Entreprises Romandes, with a breathtaking view of the city. In partnership with BARNES Miami.


June 26, 2019 – Cannes, Villla Bressarello at Cap d’Antibes. In partnership with BARNES Miami and BARNES Yachts.


June 27, 2019 – Saint-Tropez, Villa aux Parcs de Saint-Tropez. In partnership with BARNES Saint-Tropez, BARNES Miami, and Guillaume Nicolau, head of the International Clientele Department at Up Notaries.


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Buying high-end real estate in Turtle Bay

If you’re imagining an idyllic enclave full of rare species near open water, you wouldn’t be completely wrong. Located on the shores of the East River in the center of Manhattan’s skyscrapers, the Turtle Bay neighborhood welcomes a cosmopolite crowd, those with high-purchasing power and those looking for a steal in New York City.

Unsuspecting gems on the market

If you’ve ever wandered through the 10 blocks between East 43rd Street and East 53rd Street, just steps from the water, you might have wondered: Where am I? This can’t be Manhattan. Turtle Bay is a human-scale residential neighborhood, set in the heart of the big city, with some of the most luxurious and affordable real estate in New York.

This intimate neighborhood is a warm and welcoming change of scenery, with a mix of architectural heritage, dressed in both old and new materials: brownstone, limestone, red-brick, terra-cotta, granite, steel, and glass. This surprising melange paints the immaculately-maintained streets of Turtle Bay, keeping buyers on their toes.

Under the expert guidance of the BARNES New York real estate agency, buyers in search of their hidden gem can discover exceptional riverfront properties: renovated buildings built in the 19th and 20th century, as well as colossal new residential developments designed by famous architects (some with 30+ floors!), harboring luxury townhouses with green backyards and high-end apartments with high ceilings in Turtle Bay.

For many, owning property in Manhattan is the ultimate dream, and no matter the profile, it’s not out of reach. Good news! This wide range of properties is offered at a variety of price points.

For more information, don’t hesitate to contact a BARNES New York real estate consultant.

Who lives there?

Like many New York neighborhoods, Turtle Bay has a reputation for its celebrity co-ops, housing industry elites, such as the actress Katharine Hepburn, the published politician Henry Kissinger, the acclaimed composer Stephen Sondheim, even the Grand Duchy of Luxembourg, among others.

But that’s not all. Those who prefer to keep a lower profile, commuting just a few blocks to the offices in the ultra-sleek Midtown East district or to the United Nations headquarters on the waterfront. Its strategic position attracts affluent businessmen and women, as well as international diplomats to buy a high-end property in Turtle Bay. The neighborhood has adjusted appropriately to these privileged newcomers.

International shores in the heart of Manhattan

Over the years, Turtle Bay has managed to keep its authenticity and strong character despite the rise of residential and commercial developments. You can thank its very active neighborhood association, the Turtle Bay Association, and the presence of an international monument, the UN.

The Turtle Bay neighborhood comes alive with its open-borders mentality, encouraging residents to engage with the outside world: language classes at the Instituto Cervantes, Asian art at the Japan Society, and some Scanavian flair at the Norwegian Seamen’s Chruch.

Living in Turtle Bay, a small town in the heart of a major metropolis, will give you access to neighborhood institutes, like the Ideal Cheese Shop, an artisanal shop that has specialized in European cheeses for 63 years, and counting. You’ll also find a number of antique shops and grocery shops, in addition to trendy restaurants like The Smith and La Pecora Bianca.

Buying property in Turtle Bay will offer you an incredible high-quality of life, with green spaces as Peter Detmold Park and Greenacre Park, courtyards and gardens with beautiful sculptures and exotic plants.

Don’t let anyone tell you otherwise. You can really have all, in Turtle Bay, Manhattan.

Contact BARNES New York for a guided tour.

Buy a prestige property on the Upper East Side

This storied neighborhood in Manhattan, NYC, is known for its historical heritage and classic charm as much as its coveted unobstructed views of the Park. Its tranquil streets are lined with refined architecture and prestigious residential buildings fronted by spiffy doormen, eagerly awaiting the arrival of the privileged homeowners of the Upper East Side.

Live in luxury and legacy

You’ve seen it in movies and read about it in books. Since the turn of the 20th century, the Upper East Side neighborhood has been made up of the most desirable and affluent residential blocks in Manhattan, situated between 59th and 96th Street, bordered by the waters of the East River, the famous Fifth Avenue and legendary Central Park.

You wouldn’t be the only one to crack and buy a high-end family property on the Upper East Side, many have come before you. New York’s most influential families still live east of the Park, such as the Rockefellers and Kennedys, but also today’s movie stars and famous personalities. They appreciate the peace, quiet and discretion among charming brownstones, vintage pre-war buildings, high-rise apartments with spectacular city views, overlooking Central Park, one of the biggest landmarks and green spaces in the city covering 341 hectares.

Residential buildings on the Upper East Side are known for their high standard of excellence, offering residents premium amenities and facilities: fitness centers, spas and saunas, 24-hour concierge services, theaters, indoor swimming pools and more.

The Upper East Side is characterized by this old-world allure and new-world glitz, as well an incredibly high-quality of life: gourmet markets, convenience stores, hospitals, upscale restaurants, trendy bars, movie theaters, as well as designer boutiques and high-end department stores like Bloomingdales on 59th and Lexington Avenue.

The real estate market on the Upper East Side is made even more attractive to an exigent clientele with high-purchasing power thanks to its 7 historic districts and 128 monuments, preserved by the Landmarks Preservation Committee (LPC).

Home to arts and culture

The Upper East Side or UES is also a significant cultural center. The area is home to iconic museums like the Metropolitan Museum of Art, The Guggenheim, and the Frick Collection to name but a few. You can also stroll down Madison Avenue to visit a selection of art galleries debuting cutting-edge exhibits.

A top shopping hotspot, too, the world’s most beautiful boutiques and legendary brands have established themselves on pavements of Fifth and Madison Avenues. Restaurants and cafes, like its shops, are known to set the latest trends in terms of both decor and cuisine. The world’s top chefs go to Manhattan in a never-ending chase for new flavors and creativity to delight Upper East Siders.

This cosmopolitan atmosphere offers a unique setting to raise children, even more so with its concentration of academic institutions. In total, there are around 51 schools including a French high school. Its international population is not limited to France, as there are approximately 1,337 students representing over 55 different nationalities.

It would be an honor for BARNES New York to assist your search for your precious gem on the Upper East Side.

Settle down in NoMad, Manhattan

Not to be confused with nomad, a wandering traveler. But if you must, wander into the charming and historic neighborhood of NoMad in Manhattan. Located north of Madison Square Park (NOrth of MADison), surrounded by the popular Flatiron District, Chelsea, Murray Hill and Rose Hill, this frequently overlooked neighborhood is a tiny gem hidden in plain sight.

The start of something new

What was once considered a no-man’s-land, between 6th Avenue and Lexington Avenue, stretching from 25th to 30th Street, is an answer to the city’s never-ending call for more housing. Previously a “Brown Zone” or wholesale district, the NoMad neighborhood is a refuge of beautifully renovated historical buildings that shelter charming pied-a-terres and apartments, swanky hotels, renowned restaurants, trendy bars, and retail shops. Now, a blossom of luxury residential developments is attracting smart buyers who are looking to invest in Manhattan’s next big thing.

What do the real estate trends say?

The real estate market in Manhattan favors a good revival story. After all, the job of real estate actors, investors and developers, requires foresight and a spark of imagination. In the past, NoMad has not always been thought of as a prime residential area – but that’s changing. With an ideal location on the border of Midtown and Lower Manhattan and a collection of high-end establishments, NoMad has never been more ready to welcome new residents to a neighborhood on the rise.

Buyers who are interested in living in a brand new apartment look up and around. Among the breathtaking sight of towering skyscrapers, you will find luxury at its highest: sleek, modern condos with floor-to-ceiling glass windows, boasting eye-to-eye views of the Empire State Building, and comfort and amenities beyond compare. It’s true, this is what dreams are made of.

An “It” neighborhood in the making

NoMad is in the process of creating its own identity. Of course, this doesn’t mean that it’s going to leave its past behind. Whether on foot or bike, passersby are surrounded by daily reminders: magnificent gray-brick turn-of-the-century construction line the streets; the gorgeous New York Life Building, topped with a gilded gold pyramid, still shines bright; the Grand Madison, is an extraordinary embellishment of Renaissance-Revival architecture; and the American Academy of Dramatic Arts, the oldest acting school in America – whose alumni include Grace Kelly, Robert Redford, and Anne Hathaway – remind us what the Big Apple is all about: Making dreams come true.

Now let’s come back down to earth. The new image of this up-and-coming neighborhood is grounded in 2 important pillars. The first is situated on NoMad’s southern border: the timeless Madison Square Park, a 6.2-acre public space with landscaped lawns dotted with artworks, like the striking metal canopies, tilted Fata Morgana, by artist Teresita Fernández.

The second is the recent and ultra-trendy Ace Hotel, the neighborhood’s guiding light. The hotel acts as the neighborhood’s “living room,” which perfectly encapsulates NoMad’s place as an in-between area for after-work cocktails or grabbing a bite to catch up with an old pal. The neighborhood’s ambiance is calm – dare we say quiet? – as commuters, tourists, and wanderers pass through its streets, only stopping at a welcoming restaurant, lounge, or bar – of which there is no shortage. The result is the perfect balance of old and new, within minutes of the city’s endless activities, amenities, and amusement: an untapped residential resource.

To live in NoMad is to live well in the heart of the action and sleep better in a safe haven. Hurry! The time to settle down in NoMad, Manhattan is now.

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