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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.

Who are the best real estate agents in New York?  

New York City is bustling with opportunities for the buying and selling of property. It can be overwhelming to navigate the market, and finding the right real estate broker for you may prove to be a challenging task. Buyers want to ensure they are receiving top-quality service from their real estate agent and getting the best return on their investment. BARNES New York has some of the best real estate agents in New York City and offers a plethora of services to our valued clients.  

The luxury real estate niche is booming in NYC. Buyers looking to invest in high-end properties should consider finding a real estate broker specializing in luxury properties, as there are factors to consider that may not be as relevant with other types of transactions. We are a real estate company that assists clients with buying, selling, and managing luxury properties in the New York area as well as all over the world, and we offer a multitude of experienced real estate brokers to assist you with navigating the market. 

BARNES is an international, multicultural company equipped to assist buyers living in France, the United States, and other nations with the complex needs of working with luxury properties. We offer the best real estate agents in New York because we have a specialized team with diverse backgrounds, education, cultures, and experiences worldwide. 

What types of experiences do BARNES real estate agents have?  

Our BARNES New York team has been established in New York City for over 10 years. Although this branch is relatively young, many of the team members have extensive experience with property transactions around the world. For example, our managing partner, Yann Rousseau, has completed over 350 transactions since 2013, and some of our agents have over 20 years of experience working in real estate. Our long-standing dedication to the field helps us to provide outstanding service to our clients. 

In addition, our BARNES New York & Westchester team brings a wide variety of educational backgrounds and experiences to real estate transactions. Several of the team members have graduate-level degrees in subjects such as law, environmental engineering, and international affairs. These diverse backgrounds inform our negotiations and provide a unique framework for approaching real estate.  

BARNES values relevant experience outside of the field of real estate that can directly impact the quality of a transaction. We believe that we have some of the best real estate agents in New York because we offer services from professionals with a variety of experiences who are well-traveled and well-versed in luxury fields. In addition, our team members have lived in and traveled to many different countries and are used to being engaged in multicultural environments.  

We have team members who have worked with international organizations consistently for the past 25 years. We also have agents with experience in luxury product sales, finance, and travel consulting. Having a diverse range of knowledge and experiences allows BARNES to provide optimal service to our clients. 

How does BARNES provide outstanding service for clients?  

Our agents are passionate about their work and are focused on keeping our clients satisfied. While some real estate brokers solely focus on property transactions, BARNES associates are concerned about all aspects of property management that are important to our clients. We take pride in helping the client get the most out of each investment and have the specialized experience to excel in the navigation of international luxury properties.

BARNES is not simply a company of real estate brokers—we also offer additional services for the acquisition and management of luxury items, such as yachts or private aviation. A major benefit of choosing BARNES is the ability to utilize multiple services without having to be involved with more than one company. BARNES is here to assist you with buying, selling, and managing your luxury properties as well as other high-end investments so that you can feel secure. 

Aerial view of New York under sunset where we can see the Empire State Building.

What makes BARNES unique compared to other real estate brokers?  

New York is a big, thriving city with thousands of residents and countless real estate brokers. BARNES New York is unique in that we have a relatively small team of specialists. We believe that quality is more important than quantity, and we have chosen our team of 26 agents based on their passions, education, and experience with international luxury real estate. 

Buying property internationally can be really stressful, especially if you live quite far from the property you want to purchase. At BARNES, you’ll be able to find a real estate agent who understands how to work with people from all over the world. Many of our real estate brokers are multicultural and have lived in several places around the world in addition to New York City. For example, several of our agents were born in France, and many of them are multilingual. In fact, the many languages spoken at BARNES New York include French, English, Spanish, Italian, Portuguese, Russian, Greek, Serbian, Croatian, Hebrew, and Mandarin Chinese. The comfort of communicating with your real estate broker in your native language is sure to ease some of the stress of making such a significant transaction. 

While we know there are many options when it comes to real estate agents in New York, BARNES is the perfect choice for your international luxury needs, as we offer real-world experience, multicultural and multilingual competency, and a variety of educational backgrounds.  

Many of our real estate agents have lived in New York City for 10 or more years and are passionate about serving the community. We have experience with investment in our own communities and are dedicated to providing service that meets each client’s individual needs. We are ready to support you with your luxury items and are here to provide professional guidance so that you can reap the greatest rewards from your investments.  

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In the Media – Interview of Yann Rousseau in MySweetImmo

Want to know more about the New York real estate market ?

Read this article or listen to the podcast by MySweetImmo. In this article/podcast in French, Yann Rousseau, managing partner of BARNES New York, gives his insights on the state of the market as well as the most sought-after neighborhoods in the city and the financial stakes behind a purchase.

Read the article or listen to the podcast on MySweetImmo:

Read the article

In the Media – Hell’s Kitchen by LePetitJournal

Want to know more about the neighborhood of Hell’s Kitchen ?

Read this article by LePetitJournal, presenting the history of Hell’s Kitchen as well as its most famous residents. This vibrant neighborhood is full of trendy restaurants, coffee shops, stores and clubs which are all presented in this article. Finally, you will find a sum-up of the area’s real estate prices.

Read the article on LePetitJournal:

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“Invest in New York” conferences in France

On January 24 & 26, BARNES New York was pleased to host conferences in France on real estate investment in New York, followed by a cocktail. These conferences “Invest in New York” in Paris and Lyon were a great success.

Yann Rousseau, Managing Partner of BARNES New York, Westchester & Connecticut, and Adrien Gouirand, BARNES New York consultant, lead the discussion in Paris and Lyon in order to present the New York real estate market and its opportunities. The following agenda was discussed :

  •     How is the New York real estate market?
  •     Why is it the right time to buy?
  •     What are the opportunities in new developments (and property tax exemptions)?
  •     What is the buying and financing process in the United States?

The New York real estate market

The New York real estate market is witnessing a decline in supply and demand. Despite the U.S. recession, we do not expect a decline in prices for existing properties. On the other hand, the euro is recovering and new constructions represents very good buying opportunities for both resale and rental.

The most sought-after properties

Although more expensive, new developments have many advantages in terms of finishes, amenities, tax exemptions and rental/resale potential. Pre-war buildings are also in high demand for their charm and lower costs. Finally, multifamily buildings are also highly sought after by families or investors looking to rent several apartments.

The most popular neighborhoods in Manhattan are Tribeca, the Upper East Side, Midtown and Soho. As for Brooklyn, the neighborhoods of Dumbo, Caroll Garens, Gowanus or Cobble Hill are very popular.

Events that made a splash

The conferences were followed by question/answer sessions and cocktails that allowed all participants to interact on the New York real estate market in a laid-back and chic atmosphere.

Video realized by Enzo CANNATI

Photos by Radu CASUNEANU

In the Media – The fall of Wall Street is causing a wait-and-see attitude in New York

What impact did the fall of Wall Street have on the real estate market ?

This question is answered in a recent article by Les Echos. Véronique Le Billon is presenting the challenges faced by the New York real estate market in regard to the financial turbulences which are causing a rise of the interest rates and an undeniable risk of recession. In this particular article, real estate specialists, including the Managing Partner of BARNES New York, Yann Rousseau, give their insights on the current situation and the opportunities to come.

Read the article on LesEchos:

Read the article

How to buy a brand new apartment in Manhattan?

To buy a brand new apartment in Manhattan can be an exciting but scary experience. As the cost of housing prices rise, finding a new apartment for the best possible price can be time-consuming. Luckily, knowing about an ideal budget, location, and process can make the experience easy and stress-free. 

What is your budget? 

How much are you willing to spend on your apartment? Generally, a one-bedroom apartment in Manhattan costs about $900,000 to buy. A 4-bedroom apartment can easily cost over $3,000,000. Generally, co-op apartments are less expensive than condos. However, new developments Manhattan homes will cost more than those already well-established. As an additional tip, to buy a brand-new apartment in Manhattan, it is best to save up roughly 20% to 25% of the cost of the apartment before the purchase, if this is possible. 

Having a reasonable budget at or above the $1,000,000 range will ensure that you will find apartments and condos for sale in Manhattan that will meet your needs. Of course, with more accommodations, the price rises as well. Depending on what you are looking for, set a limit for yourself to find hidden jewels of homes and avoid overspending. It is best to speak with a mortgage banker or broker to request a preapproval letter to set your budget accurately.  

What is the location? 

Another huge factor to buy a brand new apartment in Manhattan is the location. The neighborhood that the apartment is located in can either make or break your experience in Manhattan and determine the price of the condo or co-op. There are several different areas that are all great for people of different personalities and backgrounds.  

For example, the Financial District and Tribeca are great for wealthy and high-class people with larger budgets. These areas are best suited for people that enjoy living in luxury, eating in 5-star restaurants, and buying expensive clothes from classy boutiques. These areas are home to both old money and new money folks alike. They are busy in the daytime and quieter at night and are home to many large places of work. These districts are also filled with office spaces and other large work buildings.  

Areas such as Chelsea, West Village, and NoHo are great for creative spirits with an eye for beautiful art. These areas are highly inclusive of all cultures, and it is much cheaper to buy an apartment here over the Financial District and Tribeca. There is always plenty to explore, including art exhibits, venues, and unique restaurants. Still, you can find lovely homes here as the residents are immersed in exquisite, unique, and vibrant art. These areas are perfect for always being entertained, as well as for those who have a deep appreciation for art and creativity. 

The Lower East Side and East Village are best suited for those looking for an exciting nightlife with plenty of activities almost 24 hours a day. These areas are filled with bars, lounges, venues, and much more to enjoy every day. Because these areas can be noisy, they are best for night owls that feel the most alive when the sun is down. There is always someone to socialize with in the Lower East Side and East Village, and always an event to go to.  

How does the buying process go? 

Buyer’s agent giving the key of a brand new Manhattan apartment to new owner after signed contract.

As a buyer in Manhattan, it is always a great idea to work with an experienced buyer’s agent, which are free to work with because they earn commissions from the home’s sale. By working with a buyer agent, you can save money by helping you find great deals on apartments and condos. At this point, attend open houses for information on each property and specific details about their offers. That way, you have the most chances to buy your brand new apartment in Manhattan.

Additionally, it is important to prepare your offer documentation and find a real estate attorney. Since Manhattan apartments are in high demand, you will have the highest chance of winning the apartment if you submit an offer as early as possible to be ahead of the competition. Because offers are not final until both parties agree and accept all terms, you can submit offers for many different apartments simultaneously with no repercussions.  

Once the offer is accepted, your attorney will negotiate and look over the housing contract on your behalf, as well as thoroughly review the building documents, including the first two years of financials. Once this has been completed, you can sign the contract, and a 10% deposit can be made to the condo or co-op.  

Once you have a fully executed contract, you can send in the mortgage application and request for an appraisal. The bank will give you a mortgage commitment letter, and you can complete your condo, apartment, or co-op board application. Begin the building application as soon as possible to stay on top of additional letters and information and remain organized with any important information. 

If you are purchasing a co-op, you will be called for a board interview, but if you are buying a condo, the building will process its waiver of the right of first refusal to allow you to close on the apartment. 

How do I close on the apartment? 

If you are approved by the co-op board or condo in Manhattan, you can then close on your apartment. The attorney will schedule this, usually in the attorney’s office or the building’s managing agent’s office. So now, your brand new Manhattan, New York apartment is all yours! 

Usually, this process takes 1 to 2 months for a condo and 2 to 3 months for a co-op. If possible, be as prepared as you can to provide documentation such as identification, income statements, and other important files. Having this readily available will help shorten the process of buying the apartment. 

Get in touch with our team of experts at BARNES New York to benefit from considerable discounts on the purchase price, transaction fees, and carrying costs when buying a brand new apartment in Manhattan.

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What is the real estate market like in Westchester? 

The Westchester County Real Estate Market has been in high demand lately, in large part, due to the global pandemic. As a result, more than ever, people are leaving New York City and traveling north, trying to find property in less crowded and more spacious areas while still remaining a train ride away from all the big city action. 

Homes, condos, townhomes, and even rental units are selling for record prices. As a result, the supply is dwindling. And buyers are jumping on whatever they can get and almost always enter competitive bidding wars that often send the property’s sale price over what was originally asked. 

Just how competitive is the Westchester county real estate market? 

According to a report put out by Bloomberg last year, properties in Westchester have been in such high demand that the supply of the properties, if it continues at its current rate, will be completely drained by the end of the year. In Westchester County’s history, a shortage of that severity has never been recorded before. 

And because of that shortage, the Westchester County Real Estate Market is very tense and properties are now being sold for record rates.

Why is Westchester county so competitive? 

One of the main reasons the Westchester County Real Estate Market is so competitive is because of its close proximity to New York City. It’s no secret that while many people want to move out of the city, they do not want to cut ties with it completely. They want to remain close, and Westchester being the first northern county to border New York City proper, keeps them close. 

But that’s not all—Westchester county is also known for its high quality of life, and its experienced workforce, including more than a few Fortune 500 companies. All these features make the Westchester County Real Estate Market a good place to invest.

Are there any parts of Westchester not as affected by the real estate market? 

Unfortunately, not really. As a whole, Westchester County is in a lower supply of properties than usual. That low supply has driven up the selling price of available properties.  

According to a report by Miller Samuel, the selling price for properties in Westchester County has increased, on average, by approximately 1.5% from the previous year. In comparison, the number of properties being sold fell by nearly 13.4% in that same period. That means more people are trying to buy than sell in the Westchester County Real Estate Market.

What are the most in demand cities and towns in Westchester? 

Anything along the coast is always in high demand, and places like New Rochelle and Larchmont up to Rye and Port Chester, which have picturesque waterside views and thriving downtowns, are avidly sought. And then there are places like Yonkers, Tarrytown, and Croton-on-Hudson, all of which are located along the Hudson River and similarly popular. 

Why is the eastern coastline in such high demand? 

The eastern coastline of Westchester County consists of New Rochelle, Larchmont, Rye, Port Chester, and a few other cities and towns. They are home to many young and experienced working professionals and ample nature parks. 

What can I expect in New Rochelle? 

New Rochelle is the southernmost coastal city in Westchester and the seventh-largest city in the state. It is approximately 15 miles to New York City (Manhattan), which translates to just over 20 minutes away by car or thirty minutes by train.  

New Rochelle is chock full of everything water-related. It has sailing schools, yacht clubs, rowing clubs, nature preserves, museums, and beer gardens. Its own downtown offers everything you need, so you don’t need to make the trip to New York City if you don’t want to. 

The average sale price for its homes is often around $415,000, making it far more accessible than the city itself. 

What can I expect in Larchmont? 

Larchmont is immediately north of New Rochelle and its average sale price for homes at the time of this writing was $1.6 million USD. 

Larchmont has a walkable downtown, plenty of spacious homes, and offers all of the same conveniences as New Rochelle, like parks, yacht clubs, and ample beaches. 

What about Rye and Port Chester? 

Rye and Port Chester are the northernmost waterside cities on the eastern coast of Westchester. Rye’s average sale price for homes is $1.6 million, while Port Chester sported a cheaper $598,000 price tag, on average. 

Rye is a food haven—there are ample restaurants, cafes, and coffee shops that dot its enviable downtown, and there is no shortage of explorable parks. Of the coastal cities in the county, it has a more suburban feel to it, and most residents own their homes. 

Port Chester is just north of Rye and offers plenty of museums, movie and performing arts theaters, and an abundance of restaurants downtown. Plus, being so close to Rye, any of Rye’s amenities are just a short drive, or train ride, away. 

What about the cities along the Hudson River? 

The Hudson River cities of Yonkers, Tarrytown, and Croton-on-Hudson carried a smaller price tag for homes than the eastern coastline. The sale price for homes in the river cities is approximately $750,000 on average, with Tarrytown driving that average up. 

What is Tarrytown like? 

Tarrytown is a diverse city with idyllic tree-lined streets and Victorian-style homes. Many of its residents describe Tarrytown as quiet, peaceful, and beautiful. And it’s that beauty and style that have inspired many well-known works of art, including the novel ‘The Legend of the Sleepy Hollow.’ 

Home prices here sell for around $1.4 million on average. 

What is Yonkers like? 

Yonkers is the closest Westchester city to New York City, and originally began as an industrial extension. However, that was its past; Yonkers has since been transformed, while keeping its historical buildings intact, into a residential haven filled with four-star restaurants, luxury properties, and a booming downtown. 

It’s got great culture and diversity to boot too, and, with the prices of homes starting near $342,000, you can do little wrong buying property here. 

What about Croton-on-Hudson? 

Croton-on-Hudson is located at the intersection of the Croton and Hudson Rivers. It is a 5-square-mile town that is packed with plenty of things to do and eat. Of the mentioned Hudson River cities, Croton-on-Hudson has the most suburban feel to it, but it comes with many amenities like highly-sought-after housing, high-end restaurants, and plenty of scenic parks. 

On average, its home prices are typically around $951,000. 

When is the right time to buy in Westchester? 

Real estate is a tricky subject right now. There are more people wanting to buy property than there are people willing to sell their property. Because of that reason, the selling price often goes above and beyond the asking price.  

As a result, buyers should be ready to be bidding against a handful of other interested parties. 

For more information on Westchester and its real estate market, contact BARNES New York! 

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What are the advantages of buying in a new real estate development in New York? 

New York City is always bustling with people who have places to go and goals to achieve. It’s a beautiful city for real estate investment, as it perpetually attracts tenants looking to rent a home for vacation, for a semester of school, or for the long term.  

In addition, NYC is an amazing place to purchase a secondary home, as there are countless sources of entertainment and shopping, most of which are very easily accessible on foot or by public transportation. So whether you are looking for a new home for your family or an investment rental property, BARNES New York has the resources you need to navigate your way through your purchase. 

While NYC offers plenty of historical real estate, there are excellent advantages to exploring new real estate developments within the city, which often include elements of historic architecture in conjunction with the conveniences of modern, upgraded materials and amenities. BARNES New Developments has preferred access to developers. Our team consists of agents with top-notch negotiation skills as well as a thorough knowledge of different parts of the city to help you find your new home.  

How can I save money buying new real estate in New York? 

Some buyers shy away from newer developments because of the price tag; however, luxury purchases are excellent investments. Updated properties offer increased value and are often built better due to the advancement of construction and materials. They know that these details are extremely important when purchasing in the luxury market.  

For example, 35 Hudson Yards was built with hand-picked limestone all the way from Germany, giving it warm, welcoming features. 108 Leonard incorporates majestic, historical architecture and combines it with more modern features to create beautiful units and common areas. Finally, buyers will want to check out 130 William Street, as it features luxurious Italian Pietra stone kitchen countertops. The upgraded materials and intentional features add value to all of these luxury properties and will likely reduce the need for renovations in the near future. These characteristics are one of the advantages of buying in a new real estate development in New York.

Furthermore, other unique details of these new developments certainly add to their value as well. For example, 277 Fifth Avenue offers floor-to-ceiling windows and columns that were intentionally placed along the perimeter of the building to avoid blocking the view. In addition, One Wall Street features tiled mosaics and a landscaped rooftop terrace for residents to enjoy views of the NYC skyline. New York City is known for its beautiful views, and these properties deliver what buyers want to see.  

These features increase the value of luxury residences and therefore tend to increase the return on investment for those looking to rent or sell their property. BARNES New Developments provides our clients with services for buying, selling, and managing these types of properties, and our agents have the knowledge and experience to be able to identify unique features that help elevate luxury buildings in NYC. 

Will I save money on utilities by investing in a new real estate development?  

Newer developments tend to implement more affordable and eco-friendly utilities, saving the buyer money on energy costs. For example, 565 Broome SoHo incorporates a sophisticated curtain-wall system that helps to retain heat in the winter and generate solar energy in the summer. This reduces the cost of energy as well as the negative impact of consumption on the environment.  

15 Hudson Yards boasts an on-site emergency generator, in case of loss of power, that contains efficient boilers to help reduce electric costs. Electricity tends to be one of the most expensive utilities for renters and homeowners, so these eco-friendly implementations can truly make a difference in overall costs and count as one of the major advantages of buying in a new real estate development in New York.

At BARNES New York, we are always on the lookout for properties that offer efficient, low-maintenance utilities to save our clients money and reduce negative impacts on the environment. Additionally, newer developments are able to incorporate updated technologies, such as more efficient energy systems and water-efficient plumbing, to reduce these costs. 

What kinds of unique amenities are included in new developments in NYC? 

Rooftop patio in New York City with a table and chairs standing on a paved area surrounded by green turf overlooking a view of the downtown skyline and skyscrapers

BARNES International Realty recognizes that another advantage to investing in new real estate is the availability of updated, state-of-the-art amenities, which add value to the property. Some of the more popular amenities include services and spaces dedicated to the health and wellness of residents.  

For example, 53 West 53 features a gorgeous dining area that overlooks Central Park as well as a 65-foot lap pool and a golf simulator. It is conveniently located above the Museum of Modern Art and boasts amazing panoramic views. 130 William includes an infinity-edge spa pool, a yoga studio, and a fitness center with a terrace to elevate your health and fitness experience. 200 Amsterdam, located in the Upper West Side, has ‘his and hers’ steam rooms, a yoga and pilates room, and an infrared sauna. All of these amenities add up in value, especially if they are saving you money on luxuries many people typically spend money on, such as gym memberships or billiards clubs. All these savings are true advantages of buying in a new real estate development in New York.

Additionally, many new luxury real estate developments offer other lifestyle services, such as doormen, concierge, and memberships to museums or other venues of interest. The Kent, located in the trendy Upper East Side, offers doorman these services 24 hours per day. Additionally, this development boasts a complimentary one-year membership to the Lincoln Center for Performing Arts. 

7 West 57 offers a virtual concierge so that residents can conveniently schedule services, such as restaurant reservations, by phone or computer. 300 West, located in West Harlem, includes two reception areas and a lobby that is attended 24-hours a day. These types of amenities increase the value of the real estate, as they provide modern luxuries that tenants highly desire.  

Luxury New York City real estate can be overwhelming to navigate, but the opportunity to invest in these new real estate developments makes them worth the thorough consideration. Thankfully, BARNES offers agents who have extensive experience working with luxury properties.  

Our agents are informed of the materials and architectural subtleties that help add value to new properties, ensuring buyers get the best value possible. In addition, we are always on the lookout for unique amenities that will save our clients money and add convenience to their daily lives. If you are considering investing in a new property in NYC, please contact our fantastic team at BARNES New Developments. 

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In the Media – The East Village narrated by Laurène Hamilton

Want to learn more about the neighborhoods of New York?

Read the latest article by LePetitJounal, presenting a series of different neighborhoods of the city through the eyes of French-speaking people who live or work there. In this particular article, let us take you on a walk through the East Village neighborhood of New York with Laurène Hamilton, the founder of “Your New York Story”, an organization that specializes in creating tours of the city that combine theater, history and art.

Read the article on LePetitJournal:

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BARNES New York’s Conference Tour in France – January 2023

BARNES New York is pleased to invite you to its France Conference Tour in January 2023 for conferences on real estate investment in the United States. The conferences are scheduled as follow:

  • Paris – Januray 24th, 2023, 6 pm to 8 pm (InterContinental Paris Le Grand Hotel)
  • Courchevel – Januray 25th, 2023, 6 pm to 8 pm (BARNES Courchevel) – In English
  • Lyon – Januray 26th, 2023, 6:30 pm to 8:30 pm (Tennis Club in Lyon)

Yann Rousseau, Managing Partner of BARNES New York, will present the New York real estate market, the acquisition and financing process, and the current opportunities for new developments in one of the most attractive city on the American continent. The conferences will be followed by a cocktail. Please register for the conference at your location by clicking on the link below:

Register for Paris
Register for Courchevel
Register for Lyon
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