Living in NoLiTa
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.