Category: New York Real Estate

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.

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.

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.

To live in the Flatiron District is to live in a rare environment, with a sense of security, safety, and community in the big city. With big-name neighbors – like Greenwich Village, Chelsea, NoMad, and Gramercy Park – it was destined to succeed. That’s why those looking to buy a residence in Manhattan head first to the Flatiron District.

Let the record show

Before making a home, the neighborhood had to make a name. The Flatiron District was first known as the Toy District, home of toy manufacturers, factories, and annual fair; then, after a surge of photography studios took over cheap lots, its unofficial name became the Photo District.

But how did this neighborhood full of so much character get stuck with the name of a home appliance? The answer is simple: The district is dominated by a landmark skyscraper built in 1903 (one of the first in the city), a wedge-shaped structure called the Flatiron Building. When realtors began to think of a new name to rebrand the neighborhood in the 1980s, they looked up.

Real estate in the Flatiron District

It’s no secret, the real estate market in New York City is extremely competitive. For this reason, the Flatiron District emerged as a welcoming safe haven for those looking to buy and invest in property in Manhattan at a reasonable price.

Located in the fashionable Lower Manhattan area, only 19 blocks split by the famous Fifth Avenue, the neighborhood has become a housing hotspot. Commercial and industrial spaces have been converted into chic and spacious lofts, and recently constructed luxury condominiums and modern residential buildings have added to supply in order meet high demand. Centrally located with a bounty of square-footage, the Flatiron District is a favorite among families led by working professionals.

Living in a small town in the big city

Imagine walking the streets, greeting neighbors by first name, and seeing the Empire State Building, One World Trade Center, and other soaring towers on display every day. It’s the stuff of movies. The hustle and bustle (or noise and traffic) of Fifth Avenue, Broadway, and Park Avenue is muted on peaceful little side streets and quiet tree-lined blocks hidden off the main roads, where most residential entrances are located. This is the magic of living in the Flatiron District.

Many people who live in this vibrant neighborhood also work there. Typical morning program: drop the youngest off at one of the excellent daycares or play centers in the area; check that the oldest children have arrived at one of the most competitive public schools (or private if proximity is not a priority); then to the office. All done foot, or bike if you wish.

Manhattanites from all over the island often meet at Madison Square Park, to the north, and Union Square Park, to the south. In spring and summer, these green spaces offer an especially delightful breath of fresh air in the concrete jungle – playgrounds, landscaped lawns, benches, sculptures, and live performances in open-air included.

When it comes to preserving history, the Flatiron District does not disappoint. Much of the neighborhood’s beautiful 19th-century architecture are grand relics of the Ladies’ Mile Historic District and give the neighborhood an air of old-world elegance. Of course, it’s important to note that the birthplace of Theodore Roosevelt has been memorialized at 28 East 20th Street, a registered National Historic Site.

The Flatiron District has a reputation for its shopping. Along 23rd Street, you’ll find an array of designer boutiques and upscale home decor and furniture stores. Foodies, too, feel right at home among the District’s trendy restaurants and food trucks. Our tip: The go-to local spot is Gramercy Tavern, a fine-dining restaurant with deep roots in the neighborhood.

Here, there are no comprises to divide the household: To have all the benefits of the city and the intimacy of a close-knit town, buy a loft or condo in the Flatiron District.

In order to complete its 2019 budget, and after the stir caused by the record sale of the most expensive apartment in the history of the country, the state of New York had in mind in recent months the idea to create a tax “Pied-à-terre Tax”on luxury secondary residences. After heated debates, the city’s real estate industry got this project to be abandoned, fearing that the impact would be too great on a market in the grip of a slowdown since 2017, and on this high-end segment. in particular.

The game was not won in advance, as he was vigorously defended by the newly elected Democratic leaders. Indeed, the latter argued that the bill could have contributed to financing public transport (MTA), to curb the often unpopular enthusiasm of real estate developers and to specifically target the elites, decidedly singled out across the West. . The sudden impetus for this new tax surprised even within the ranks of Democrats. It goes without saying that the players in the real estate industry reacted so vehemently as they had not been consulted.

Real estate developers therefore quickly engaged lobbyists and presented legislators with economic projections and analyzes demonstrating the very negative impact of such a tax, as well as the difficulties of its implementation. Indeed, how to precisely determine the use which is made of a property (main or secondary residence)? The project was buried in the wake …

However, on April 5, this tax proposal disappeared, the legislators quickly returned to the charge by proposing to increase an existing tax (the “Mansion Tax”), which is paid only once by the purchaser for any purchase. over $ 1 million.
This tax, which was previously 1% for all transactions greater than $ 1M, may therefore, as of July 1, 2019, go up to almost 4% for a real estate purchase greater than $ 25M.

In addition, the State Transfer Tax has also been amended, from 0.4% to 0.65% of the sale price, when the amount of the sale exceeds $ 3M. Note that this tax is generally the responsibility of the seller (excluding new programs).

New York State Assembly Speaker Carl E. Heastie said the Transfer Tax, levied at the time of closing, will be more manageable, and that the revenue generated will mainly go to the NYC subway. According to projections, this could bring in an additional $ 300M to $ 650M per year.

In conclusion, it is strongly recommended that anyone with a short-term New York acquisition plan take the next few weeks to see it through, before law enforcement takes effect on July 1, 2019!

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Important numbers to remember

Kenneth C. Griffin’s $ 238 million penthouse acquisition becomes America’s highest record deal, and has raised the issue of a pied-à-terre tax.

July 1, 2019: Beginning of the graduated increase in Transfer and Mansion Taxes from $ 2 million.

Between 300 and 650 million dollars per year: estimate of the amount that will be generated by the increase in the two taxes.

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Sources : NY Times, City Realty, Crains New York, Bloomberg

Bed-Stuy, it only takes these two hyphenated syllables to throw you into a state of wonder. Is it the latest trendy New York band or a new ready-to-wear line? No, it’s actually one of the most popular neighborhoods in the Brooklyn borough: Bedford-Stuyvesant.

A little bit of history

In 1964, New York was officially named by the English. However, that was only after the governor Peter Stuyvesant surrendered the capital of New Amsterdam, known as New Amsterdam, which occupied the great New York City we know and love today. In any case, this Brooklyn neighborhood pays homage to its Dutch roots.

A character all its own

Bed-Stuy, for short, is the perfect example of gentrification in New York City. Its ultra-chic neighbor, Williamsburg, certainly has something to do with it. A neighborhood once described as difficult, today Bed-Stuy’s popularity is shooting through the roof, especially on the west side. The neighborhood has caught the attention of real estate investors, the usual seers of real estate market trends. Buyers who are looking for the next big deal have (smartly) followed. Residents, who have lived in the neighborhood for years, are very active in the community, spearheading strides of development to improve their quality of life. Restaurants and bars across the neighborhood are under renovation. New fine grocery stores, shops, and cafes are popping up on the streets. As a result of all this interest, Bedford-Stuyvesant and its real estate market are booming.

The residential streets of Bed-Stuy are emblematic, lined with red-brick brownstones, giving the neighborhood a classic New York charm. You’ll also find 19th-century industrial buildings that are increasingly being renovated into contemporary-style loft apartments.

A neighborhood rising with the tide

Located to the west, the quiet – or “bourgeois” – part of the neighborhood is becoming quite popular. Its streets are lined with admirable trees and red-sandstone buildings aligned and fronted with romantic stone staircases.

When it comes to shopping, Fulton Street is the place to go. Even Manhattanites jump boroughs to scour shops to find rare gems. The bridge suspended over this street is a hotspot for lovers of beautiful photographs. To find unique shops, head to Lewis Avenue or Malcolm X Boulevard. There you’ll find independent bookstores, cafes, bakeries, and even a small market selling products from local producers.

Living in Bed-Stuy is a very good idea. Real estate prices for buying or renting are still reasonable, attracting a population of young families and students. With large spaces, lively public parks and gardens, and great transportation, the neighborhood is one that moves. Several subway lines allow easy access to Manhattan – a service worth gold for daily commutes into the city

It’s no secret. Life happens fast in New York City, and Bedford-Stuyvesant is no exception. As the neighborhood embarks on a beautiful new chapter and the real estate market settles into an upward groove, it’s safe to say that real estate in New York City is taking off on the other side of the East River.