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New York is not dead – Real estate market still strong

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The COVID-19 pandemic changed the way we behave and had a deep economical and social impact on societies all over the world. It is thus not surprising that the real estate market was impacted, especially in a megalopolis like New York City, where the housing prices can lead people to live close to each other in cramped apartments. It was also a natural reaction to want to move away from the city, to a suburb or even farther where one could rent a spacious house and enjoy fresher air and greenery.

However, New York will always be New York, and despite a decrease in rent and sales prices during year 2020, prices are now back to a pre-pandemic level, and people are ready to move back to the bustling and lively Big Apple. New York real estate market is still strong and resilient, and there are still great opportunities, especially in new developments.

BARNES accompanies you in all your real estate endeavors in New York and abroad thanks to its international and global network, and its 100 offices in the most coveted destinations and world capitals, and with three expansiosn planned: in Greenwich, Connecticut, the Hamptons and New Jersey.

Why should you invest in a New York City home?

By Annie Newman

New York is one of the most attractive cities in the world to live in and attracts global attention since the beginning of its history. It is not only an exciting place to live in but it is also a world capital in many ways. It is the location of major financial institutions, world renowned cultural districts, the seat of the United Nations and has more population per square feet than most cities across the country. The real estate in New York City is priced at a high value due to its coveted status as one of the greatest metropolitan areas in the world. New York City consists of the following 5 boroughs: Manhattan, Brooklyn, Queens, Staten Island and the Bronx. They all offer unique homes, condos, lofts and apartments that only increase in value over time and can satisfy a wide array of lifestyle needs.

The New York City real estate market

New York apartments are quite in demand and regardless of price, often have many people eyeing the same homes for sale at the same time. One charming neighborhood in Manhattan named Chelsea, recently attracted hundreds of people to a two bedroom open house event where the line to enter had almost a 30 minute wait. Not many cities on earth can boast such a phenomenon. New York City apartments for sale are often difficult to choose from as there are so many neighborhoods and boroughs that offer exclusive living spaces. It is important to do the right research before investing in a luxury condo in New York or any type of home as each area has its own character. Many older residences offer high ceilings, large lobbies, decorative features, hardwood floors and historic charm. The newer constructions are built smaller and are usually found in high rises but do include more modern advantages than prewar constructions. Some New York homes for sale are more expensive but are built in quieter areas that have more of a suburban feel. The New York penthouses for sale offer incredible views of the Manhattan skyline that are truly breathtaking and worth the investment. One can spend days visiting the arts and cultural centers and museums around the city and the fast paced lifestyle of New York is inviting for all those who are looking for a fulfilling experience.

Neighborhoods in New York City

The Upper East Side in New York is known for its trendy and upscale homes, restaurants and shops. Part of Central Park and many museums surround the area that can be filled with tourists all year round. Purchasing or renting an Upper East Side apartment is a source of pride for many residents.

Chelsea is a Manhattan neighborhood that is quite central and has more townhouses and low-rise buildings that make the area more home-like than the skyscrapers of other districts. A lot of former factories have been transformed into art galleries, condos, and trendy upscale living spaces. It is mainly residential and doesn’t reflect the more bustling neighborhoods that are in the financial districts. It has a lot of history and restored homes. SoHo in New York is another fancy neighborhood that includes many designer stores, high end shopping and elegant homes. It has a lively nightlife and attracts all types of artists and vendors.

The SoHo apartments in New York are well located and offer both historical styles of architecture as well as top of the line modern constructions. TriBeCa is a very expensive neighborhood of Manhattan that has a suburban look with cobblestone streets and multimillion dollar residences. It has a family friendly atmosphere and the TriBeCa apartments are usually high priced due to its special character as a quiet area in the big city. There are many lofts for sale that were formerly built as industrial buildings and have spacious accommodations. In a city that has over 8 million inhabitants, every square foot is precious real estate. Some families who are looking for a peaceful neighborhood in New York without having to commute to further suburbs in other boroughs can choose TriBeCa as a primary residence.

The Upper West Side of Manhattan is famous and its name is probably more recognized that many other New York districts. The area includes Central Park, one of the only preserved green spaces in the city, as well as many museums and is a desired zip code to live in. It has many affluent residents and notable structures and is also more convenient for families or people looking for a more quiet living space.

The Upper West Side of New York offers apartments that are luxurious, beautifully restored and have cozy living spaces. The streets are quieter and one does not have to be concerned with the loud distractions of the more densely populated areas. The East Village of New York is more known for its busy nightlife, bars, music venues and restaurants. It does include mansions and prestigious homes as well as row housing. It is a center for culture and the East Village apartments are well located for those who want more of a fast paced lifestyle. It is easy to access all the cultural venues that are so close by.

The West Village of New York is quite special in the sense that the city imposed the maintenance of the historic facades of many buildings and therefore the area has kept a lot of its historic charm. There are many theaters that display modern cultural trends and movements. In general, New York City itself is a mix of old and new, modern and historic, busy yet livable and exciting as can be for all those who call it home.

BARNES New York is at your disposal to help you choose the right New York City home for your needs and aspirations. We have a team of knowledgeable experts who can guide you through the process of purchasing your dream residence in the City that never sleeps. 

«New York City Neighborhoods» : Exploring the West Village with Pauline Lévêque

Interview by Rachel Brunet, director and editor-in-chief of Petit Journal New York

BARNES New York invites you in its series of articles untitled “New York City Neighborhoods”, where you can regularly discover the different districts of the city, in the eyes of French speakers who have settled there. They tell us all about their neighborhood, in their words, their tastes, their habits. Today, we take a walk in the West Village, in the company of illustrator Pauline Lévêque. With her husband, writer Marc Levy, and their two children, she has lived in this West Manhattan neighborhood for twelve years. The artist, who is exhibiting on November 11, 12 and 13 in Brooklyn, shows us her neighborhood, with its inspirations and habits. And without a doubt, its daily joys…

Lepetitjournal.com New York: You live in West Village. What attracted you to this neighborhood?

Pauline Lévêque: Before settling in the Village, my husband and I lived in London. There is an English side to it, green and calm in this neighborhood, but here the sky is blue almost every day. The streets are charming, the brownstones superb, and you don’t really feel the New York frenzy. It’s a little haven of peace in the heart of Manhattan.

Can you tell us about life in this neighborhood, the atmosphere? What makes it live, what drives it?

It really is village life. We know our neighbors, the UPS delivery man, the traders, the elderly in the neighborhood, the watercolorist who draws the street corners, the cellist who has been playing the same tunes for twelve years, the cigarette seller, the dog walker … And we find a bunch of dogs! Almost as many as children! It is very joyful and cordial to walk through the streets of the Village. But depending on the festivities, as with the Halloween parade, it’s not uncommon to come across extravagant, happy, or scary personalities. The shops on Bleecker Street have suffered greatly from the pandemic, but like the rest of the city, we are feeling a new lease of life and we are discovering new brands. The restaurants are all installed on the sidewalks and in the streets, which gives a European “bistro” side.

You are a mom. How is life with children and a family at TriBeCA? Are there many families?

Yes a lot. My children both go to a school in the neighborhood and the majority of their friends live there. We go to school on foot or by scooter, we meet up with friends on the way. It’s easy for last minute playdates and playground laps, too. We feel very safe in the Village. It is a very “kids-friendly” neighborhood. As proof, the ice cream parlor’s truck makes its daily rounds almost all year round!

You are an artist. Can you make us discover this district with your words? Is this a neighborhood that inspires you?

Very much. The outlook of the tree-lined streets, the alleys of townhouses, the view from the banks of the Hudson river… The area does not have too many tall buildings compared to the rest of the city, so I can see the sky with every walk, watch the roofs of small buildings with their water towers, have fun with graffiti, and see the Freedom Tower enthroned at the end of 7th Avenue.

Can you describe where you live, what attracted you, what do you like about your home?

The village is unlike any other parts of Manhattan. Unlike the rest of the city, the streets are not numbered, but have names. Before living here, I always got lost in this neighborhood, and had a soft spot for the corner of Perry Street and W4th. I am fortunate to live close to this corner that made me dream. And I still don’t get tired of it.

As a European, do you find a little European side to this district through the inhabitants, the shops, the schools?

Absolutely! I think the vast majority of people in the West Village are Americans, but the area really does have a European feel to it. By the way, Diptyque, Sandro, Maje, Bash can be found on Bleecker Street. The schools are on a human scale.

Your favorite places in the West Village?

Along the Hudson River, the children’s clothing store “Pink Chicken” on Bleecker Street, the restaurants “Mary’s fish camp”, “La Sevilla”, “Buvette”, “Bobo”, “Nami Nori”, “En Japanese »… Gay street, Morton and Bedford Street, St Luke’s place… Smalls jazz club on W10th. Etc., etc!

Is this a neighborhood that you recommend for those who want to buy or rent?

Sure, for both. West village is an expensive area, but if you can afford it, it’s the nicest area for me to live.

If you had to describe the West Village in three words?

Charming. Calm. Village!

EXPERTS DISCUSS – West Village

Rental Market in West Village: During Q3 2021, the median rent for an apartment in West Village was $3,000 for a studio, $4,000 for a 1 bedroom, and $5,500 for a 2 bedroom.

Sales Market in West Village: In the third quarter of 2021, across the West Village, the median asking price of sellers is $2,100 / sqft.

Interview by Rachel Brunet, director and editor-in-chief of Petit Journal New York

How can New York real estate agents be helpful in guiding you through the real estate market?

By: Annie Newman

New York City is one of the largest and most populated cities in the United States and consists of a thriving and growing real estate market. Some people who are looking to buy or rent properties in and around the city choose to inquire about its available listings online or through visiting the different areas. Others prefer to use a real estate agent to guide them in the process of investing in this great city.

What are the roles and responsibilities of the real estate agents in New York?

Anyone who has explored the New York real estate market is aware that the prices of properties in the Big Apple are higher than many cities across the nation due to the popularity and economic power of the city. Due to the large territory that New York covers, one can find a tremendous variety of properties in Manhattan and the surrounding suburbs and boroughs who are quite large and diverse in lifestyle, architecture and landscapes. Even if a buyer is certain about the type of building or property that they are searching for, navigating the market without an agent can be quite challenging as there is truly a sea of choice. Also, due to the higher than average prices found across the city, buyers want to ensure that their investment is worthwhile and done properly.

Real estate agents are key to helping potential clients in searching for their dream house or investment in this glamorous and world renowned metropolis. They can guide you to investigate which areas match your ideal social, cultural or business setting and can present you with listings that are not always available online or well described on search sites. They can narrow down the possibilities for you and give you details about the residences and properties that would not necessarily be accessible or explained in the brief online descriptions. They are experts regarding the history of the different locations, prices, quality of the buildings, local construction laws, and true value of the properties. They can help you make the appropriate comparisons.

Many real estate agents can also connect you to the right mortgage specialists, home improvement or construction businesses. They can also be available to communicate with potential sellers and other real estate agents or property managers on your behalf and save you a lot of time by inquiring about your questions and concerns with those other parties directly. They can certainly be a great asset in planning and organizing your search for the perfect real estate investment in New York. Due to the high demand for housing and commercial properties in the City, some agents may offer better service than others. Some real estate brokers are very busy and some are more interested in those willing to invest greater funds for more major transactions, but with the right patience, buyers can do their research to find the best real estate agents in the city for their needs and goals. Some brokers around the city are more motivated than others by commissions but the top real estate agents are those who truly care about their client’s needs. People who are looking to buy or rent don’t want to be pressured into signing a contract on any property that is pushed specifically by an agent, they want to find the home that matches their needs and budget and want to have all the true information about the quality and pricing of their investment. That is why it is important to search for the right real estate broker that will represent you and have your full interest in mind. When you find the appropriate real estate agent for you, they can help you with gathering the proper documentations for your investment, answer your questions, put you in touch with lenders, home inspectors, lawyers and all the parties involved from the beginning of your search to the finalization of your transaction. Sometimes, the process can take a longer time and can require more attention or communications, and this is why it is crucial to choose the brokers with the best organizational and collaborative skills to be there for you along the different steps to complete your acquisitions.

BARNES New York and its influence in the luxury real estate market

BARNES New York is proud to excel in its service in the New York luxury real estate market and has a great team of experts available for consultations regarding all your real estate goals. We offer some of the most sought after properties in and around the City, from high end apartments and condos to luxury homes, townhouses and penthouses. Our team is familiar with the real estate market in this wondrous city and has access to an international network of experts in local and foreign investments and property management. Our exclusive properties, whether available to buy or rent, are presented to you with the highest degree of professionalism and we take pleasure in your satisfaction and long term success. For more than a decade, BARNES New York has helped its international and local clientele in their real estate acquisitions in the City. From our real estate agents and brokers to our managing partners, real estate consultants, and business associates, we are all committed to give you the best experience in planning, buying or renting the right property for you. We look forward to working with you on all your real estate goals and projects.

Chelsea, one of the coolest neighborhoods in the world

Interview by Rachel Brunet, director and editor-in-chief of Le Petit Journal New York

It stretches from 14th Street to 34th Street and 6th Avenue to the Hudson River. The Chelsea district has just entered the Timeout ranking of “49 coolest districts in the world”. This district of the West Side of Manhattan is known for its many restaurants, its famous sites, including the High Line, but also its art galleries. Between the inauguration of The Little Island this year and the opening of the exhibition ‘Jean-Michel Basquiat: King Pleasure’, next spring, immersed in the Chelsea district, one of the most “gay-friendly” in Manhattan, but a neighborhood that also has a bit of a French touch of some sort…

Chelsea among the coolest neighborhoods in the world

The ranking “the 49 coolest neighborhoods in the world” of the famous Timeout magazine is just out and awarded to 49 neighborhoods spread over the four corners of the planet under the title of “coolest neighborhood in the world”. The Chelsea neighborhood in Manhattan comes in 6th place.

From “speak easy” to flea markets, restaurants, gay bars to green buildings, the Chelsea district caters to all tastes. Chelsea is a happy marriage of industrial style and contemporary construction, with one watchword: strolling. Trendy restaurants, cafes, small shops and openness to water and nature, if Chelsea made its entry into the Timout ranking, there’s a good reason.

Chelsea is one of the oldest neighborhoods in New York to have retained its original name. In 1750, an English entrepreneur named Thomas Clarke bought a “ten square block” piece of land near the Hudson River and named the estate “Chelsea” after a soldier’s house near London. Over the years, developers have built the heart of Chelsea between 14th and 23rd Streets West of Eighth Avenue and have designed the neighborhood with the boundaries we know today. Among the monuments, both literally and figuratively, of the Chelsea district, the famous Chelsea Hotel, Madison Square Garden, the High Line, Chelsea Market, The Little Island… But not only! Chelsea is a neighborhood that has its secrets.

Chelsea’s secrets

The top of brick buildings and water tower on a Chelsea rooftop.

The Grand Lodge of New York is the largest and oldest independent organization of Freemasons in New York. Founded on December 15, 1782, the Grand Lodge has jurisdiction over approximately 60,000 Freemasons. The historic 23rd Street and 6th Avenue structure has hosted various blood drives and charity events, as well as New York’s Masonic Security Identification Program.

Another of Chelsea’s secret, the atomic bomb … Although much of the research on the project took place at Columbia University, Chelsea also played a small but important role in the development of the atomic bomb. On West 20th Street, three buildings once made up the Baker and Williams warehouses, which housed thousands of tonnes of uranium. In the late 1980s and early 1990s, the federal government cleaned buildings of residual uranium, disposing of over a dozen barrels of radioactive waste.

Another, sweeter secret… The building that now houses Chelsea Market was once the headquarters of the National Biscuit Company, or Nabisco. The factory officially opened in 1890 when eight bakeries came together to create a “super bakery” and continued to expand until 1958 when the company left Manhattan. In 1912, Nabisco invented his undoubtedly most famous product in Chelsea: the Oreo cookie. Chief food scientist Sam Porcello created the recipe, which has remained largely unchanged over a century later. The company also produced classic products such as Saltines, Vanilla Wafers, Fig Newtons, and Barnum’s Animal Crackers. Many remains of the original Nabisco factory are still there. Entering Chelsea Market from 9th Avenue between 15th and 16th Streets, the Nabisco plaque dating from 1898 still triumphs.

A bit of France in Chelsea

View of downtown Manhattan from a garden in Chelsea, with a terrace in the foreground and people watching at the skyline.

While many may think The High Line‘s concept of turning old train tracks into a park was started in Chelsea, The High Line was actually inspired by the Parisian project, La Coulée Verte, located in the 12th arrondissement of the French capital, built in 1993 from a disused railway line. The project, both architectural and green, follows the old Vincennes railway line and crosses an elevated viaduct to reach the Bastille. The High Line, the American counterpart of the Coulée Verte, was to have retail space underneath, but plans were scrapped after the spaces under the park were privatized.

With nearly 40,000 French people officially settled in New York, Chelsea is also a neighborhood taken over by expatriates. On 29th Street, between 7th and 8th Avenue, the O’Cabanon restaurant has taken up residence since 2015 with its adjoining shop where you can find a wide range of French products: cookies, preserves, syrups, cheese, cold meats, chocolate, cosmetics and even books in French.

Further south, within the Chelsea Market itself, the Norman pastry chef Jérémie Rousselet officiates at Tiny Feast. On a very French note, ham / gruyère baguette sandwiches, charcuterie boards and donuts are on the menu. “I have a lot of good memories with donuts: they remind me of summer and the holidays, their delicious smell, and when I was a child, in France, going to bakeries after school to have a donut” explains the French chef on the Tiny Feast website.

On 7th Avenue, between 19 and 20e rue, Le Singe Vert, a bistro with romantic decoration that serves cold meats, snails, onion soup, endive salad with duck confit, steak tartare or even a tab wine merchant.

It was also in Chelsea that the 2013 Chelsea Film Festival was born – sponsored by French nationals Ingrid Jean-Baptiste and Sonia Jean-Baptiste and whose 9th edition has just ended. This festival dedicated to the 7th art, highlights and awards international independent or emerging filmmakers. This year, among the 141 films presented, 11 were produced by French directors.

Chelsea, this neighborhood where it is good to stroll, work and live, however, remains an expensive neighborhood in New York. “As of September 2021, in Chelsea, the median selling price was $1,289,000, and reported on the surface the median price was $1,491 / sqft. For rentals, the average rental price in September was $3,675 for a studio, $5,150 for a one bedroom and $7,450 for a two bedrooms ”explains Yann Rousseau, Managing Partner at BARNES New York.

Expensive, but cool, so is Chelsea…

Interview by Rachel Brunet, director and editor-in-chief of Le Petit Journal New York

What should you know about luxury real estate in New York?

By Annie Newman

New York City is one of the most unique places in the world. The bustling economy, the award winning theatres, the big city lights and skyline, the top rated fashion industry and the luxury real estate market are all part of the exciting glamor of the Big Apple. Every big city in the world can include luxury real estate but New York takes it to a whole new level. It boasts apartments and condos that are so elevated within the skyscrapers, that some of them can feel like one is living in the clouds. The high value pricing for New York residences is above the national average, and for good reason, since owning or renting a luxury home there is considered quite prestigious.

Why is the cost of living in New York higher than average?

Buyers can own a home in cities across the United States for reasonable prices but a few American cities such as Los Angeles, San Francisco, Miami and New York can dazzle its residents and tourists with a magic touch as these cities offer a lifestyle that cannot be found just anywhere. It’s not every day in smaller towns that one can experience the lively financial, social and cultural way of life that a big metropolis like New York has to offer. It is no wonder that luxury apartments in NYC are in high demand and their incredible views of Manhattan are even priceless. In New York, there is such a variety of neighborhoods and lifestyle options that choosing a place to call one’s home can be a fascinating journey. One has to choose the right neighborhood, the right location and the type of housing that is appropriate. Luxury apartments in NYC are surrounded by charm, history, and a sense of liveliness that is rare to find in most towns nationwide. For example, a New York penthouse can be so much more alluring for buyers that a penthouse in other cities, because they usually offer views that are breathtaking of the big city and are usually found in very high towers that offer far reaching views. Many celebrities or business owners who own homes in other American cities often choose to purchase a second home in New York as it is a source of pride to own a piece of real estate in one of the most attractive places in the world. Those who live there year round feel a great sense of fulfillment to be able to enjoy on a daily basis the bustling life that New York has to offer.

Luxury real estate outside of Manhattan

For those who want to be close to Manhattan but prefer a more serene and suburban lifestyle, there are many boroughs outside of New York City that offer exclusive luxury homes and townhouses for sale across a wide area surrounding the big city. The New York real estate prices vary depending on the areas but usually the condos for sale outside of Manhattan are less expensive than in the City itself. Yet, bigger houses in the suburbs can actually be more expensive than apartments in Manhattan because they are quite large and have more land. New York is a very populated city and therefore choosing a home outside the region can offer more of a spacious and comfortable lifestyle.

Types of luxury real estate in New York

New York is a city that has a long history and therefore many buildings and homes were built quite a long time ago. The people who invest in those types of constructions can be surprised to see them listed as luxury properties because of the date in which they were built, but a lot of them have been completely renovated and revived. They are considered luxurious due to the location in NYC as well as the fact that they are built with more space than newer condos or apartments in the City. The other type of luxury residences in New York are the brand new constructions, or new developments, often found in high rises that offer spectacular views and modern amenities. They are well located and are prestigious to live in. They usually have a 24 hour doorman and maybe even a gym or pool. Yet, they are often built much smaller since developers or sponsors want to maximize the expensive land they purchased in New York. Every square foot of space in a city like New York is very precious and often has many people bidding for the same properties. It is one of the reasons why Manhattan is known as a ‘concrete jungle.’ Whenever new land becomes available for building, investors prefer to build high rise buildings instead of parks or green areas to increase revenue. Renting or owning a luxury home in New York is not to be taken for granted as it is a very special opportunity.

Expensive neighborhoods in New York

Hudson Yards, TriBeCa, SoHo, Upper East Side, Central Park, Cobble Hill, DUMBO, Park Slope, Williamsburg and Carroll Gardens, to mention a few, are some of the most expensive neighborhoods in New York City. Some of these are in Brooklyn, while others are in Manhattan. Manhattan is the most expensive of all as it is the heart of New York City and State for economic, cultural and social development. Other boroughs can also be expensive due to their proximity to New York City but can be more affordable than Manhattan itself. They can also include larger properties. Whether you are looking to buy or rent in the New York area, you will be spoiled with a wide variety of luxury properties to choose from in and around the big city.

BARNES New York is the quintessence of luxury real estate in the City and offers its services related to sales, rentals and property management for your real estate projects. Its international clientele and worldwide reputation brings you the most exclusive properties and our team of experts is at your disposal to accompany you in reaching your investment goals in New York.

Market update and webinar series announcement

Borders are reopening! Finally … Many of you were just waiting for this signal to come and join the Big Apple and realize your big real estate project, which has been dormant for almost two years. You will then have chosen the right time, in a market context which is still tense on one side but reassuring on the other. And it is precisely this reassuring, stable and resilient aspect of the New York market that makes it an essential real estate market.

Indeed, and as was the case in the past during other “crises”, the impact of the Covid-19 pandemic (from a strictly real estate point of view means) was only felt here in a limited way (drop in prices in resale of 10 to 15% during 2020), and temporary (concentrated on Q2 and Q3 2020). The major impacts were felt above all on new development projects, rentals and commercial real estate.

Today, residential real estate has returned to its pre-pandemic level and negotiating margins are now tight in resale; we are clearly in a “seller’s market” with limited inventory and strong demand.

Regarding new developments, the “sales” that we promoted in 2020 are rather over. As the inventory is still large, there is still some interesting leeway, as long as one chooses the right partner for their project. This is precisely the goal of the establishment by BARNES New York of a monthly, French-speaking webinar, on the first Tuesday of each month, presenting various New York new development programs, highlighting our expertise in the field. Rendezvous for the first opus next Tuesday, on October 5 at 12pm EST (6pm FR) to discover the following programs:

  • 300 West (West Harlem)
  • The Ritz-Carlton Residences (NoMad)
  • St Marks Place (Boerum Hill, Brooklyn)

Please contact us to register for free!

The rental sector has fully recovered with a market that is very much to the advantage of owners. As for commercial real estate, it continues to suffer to some extent, with a full recovery, at least a stabilized correction, expected by at least 2023.

Our team of experts, multilingual, continues to expand, including a new office in upscale and multicultural Westchester County; and, as always, remains at your entire disposal to assist you in the realization of your New York real estate project.

Why should you use a real estate agency to guide you through the New York real estate market?

By Annie Newman

The New York real estate market consists of a vast sea of choice of luxury condos, apartments, homes and townhouses that can be found across New York City and its suburbs. One of the most populated and attractive cities on earth offers so much choice for buyers and real estate investors that it would be hard to imagine navigating through this real estate market without the guidance of knowledgeable experts in the field. Not only is it important to choose the right type of residence, but the location of the home can affect daily life in a profound way when living in such a big metropolitan area. The process of buying or renting a home in New York City and its surroundings can be exciting and real estate agencies can guide you to make the process much more pleasant and effective.

The New York City real estate market

New York City has 5 boroughs that expand through large territories and include all types of landscapes. Those consist of the densely populated Manhattan, as well as many areas surrounded by water, farmlands, suburbs, towns and villages. Real estate companies can be found in most of these areas and often specialize in different types of properties, including luxury homes and modern constructions. Some parts of NYC are older due to its long and rich history but the properties are charming and retain their authenticity. There are many restored buildings that offer large and modern living spaces, while other areas have brand new constructions that are valued at very high prices due to their incredible location in and around the city that never sleeps. Those who are looking for a more quiet and suburban type of lifestyle can turn to one of the many boroughs that surround Manhattan that are less densely populated and offer more of a communal or family life that is not as busy as the big city. Luxury real estate companies can be found throughout the area because even a home that is a one hour drive from Manhattan can be quite expensive when considering how easily accessible it is to reach the city that is undoubtedly one of the most important financial and cultural centers in the world. In many cities around the United States, once a buyer starts searching for a home that is located within a sizeable distance of a big city, usually the prices can be expected to be lower but when one is searching for a home within any borough of New York City, they can expect high value properties because it is incredibly desirable to be near such a special metropolis. Choosing the right borough and the right type of property is quite a big task and while investing a lot of funds into a NYC home is always worthwhile, it is crucial to have the right broker and agency to help buyers make the right choice.

Why choose a real estate agency in buying or renting a home?

Some buyers turn to the internet to search for available properties in and around New York City to rent or buy, but they might not necessarily find out a lot of important information in the online postings of properties. Sometimes, a real estate broker might have insights that buyers don’t have access to regarding the history of repairs, appropriate pricing for the area, advantages and disadvantages of certain properties, why some homes have been on the market for longer periods of time, and myriads of other details that cannot be accessible on typical search engines for the real estate market. Some people who are looking to buy or rent a home in NYC are concerned about how to choose the right agent or broker because they don’t want to be pressured into any major decisions and therefore the best way to choose the right person to represent you in your search is to have them offer a few properties that meet your criteria and discover if they are truly trying to satisfy your real estate needs or are more concerned about sales and commission. Even though real estate brokers are available to help and are looking to close sales, some agents are more understanding of your needs than others and have your best interest in mind as they want their clients to be happy with the purchase and are not simply there to gain a sold property. Here, at BARNES New York, we have a long history of offering some of the most exclusive and special properties that NYC has to offer and our team of experts are proud to give a personalized service to its customers. With offices all over the world that represent luxurious and highly desirable homes, we are proud to include this great city as one of our top locations in the real estate market. In Europe, we present homes that show a true French art de vivre style and we choose our properties very carefully to meet the highest standards. Even in a city like New York that is quite populated and can include smaller living quarters, we still offer some of the best located, modern, luxurious and prestigious homes of all sizes to meet your needs. There are many real estate companies in the area that can be efficient to guide you in the process of making the right purchase or investment, but they may not offer such high end properties like BARNES has in its coveted listings.

Whether you are currently living and working in New York City or are living abroad and are looking to invest in a home in this area, you can count on BARNES to be at your disposal thanks to a strong team of experts available at your convenience.

Buying real estate in New York: expert advice

Bien Vivre aux États-Unis:
the 1st digital show for French people in the United States

BARNES New York & Westchester invites you to the conference dedicated to the New York real estate market, “Buying real estate in New York”, on the occasion of its participation in the online exhibition “Bien Vivre aux Etats-Unis”.

This digital event will take place on Monday, September 13 at 12.00 pm (EST time zone). The fair will then run throughout the week until September 17, presenting a series of conferences with expert speakers to support expats in the United States, whether you have been settled there for a long time or still dreaming of living there.

Yann Rousseau, Managing Partner of BARNES New York & Westchester, will join the discussion with Betty Benzakein of HSBC and Amélie Deschênes of OFX, addressing in particular:

  • The New York Acquisition and Leasing Process
  • Update on the state of the real estate market in New York & Westchester for Q3 2021
  • Settlement or “relocation” formalities
  • Preferred neighborhoods
  • The different real estate products available
  • The role of the real estate agent

Monday September 13 at 12.00 pm EST / 6.00 pm CEST

This event is sponsored by USAFrance Financials and organized by French Morning.

Should you invest in Manhattan real estate now?

By Annie Newman

Manhattan is often described as the financial and cultural center of the United States, and even considered by some as a world capital. Historically, it has been a constant attraction for tourists and immigrants from all over the globe and it is now recognized as one of the most desirable and exciting places to live and work. It is not surprising that the value of Manhattan real estate exceeds the sale prices of most metropolitan cities in the United States and around the world.

Why is it special to buy an apartment or home in Manhattan?

Those who call Manhattan their home feel a sense of tremendous pride and even though it is densely populated, people are willing to go the extra length to find their place in the city that never sleeps. The skyline of Manhattan is unmistakably recognized by people all over the world, including those who have never even visited New York. Songs, movies, television and theatre shows have been produced about Manhattan as it captivates the minds of all those who have heard of its bustling business and entertainment life.  This massive metropolitan area has a record number of skyscrapers that offer some of the most incredible views in the world.

Owning a property in Manhattan is a prestigious advantage.  Almost any apartment there can offer views that even penthouses in other cities don’t offer. Due to the large population, the buildings in the city are known to be built as high rises and skyscrapers and many apartments offer spectacular sceneries since the structures are built with such elevation. Some of the world’s tallest skyscrapers are found in Manhattan.

Manhattan real estate is in high demand

Manhattan not only has a large population, but it has an influx of workers from other boroughs or even states that commute there on a daily basis, creating a landscape that requires constant building and expansion. Every centimeter of land is precious and many in the construction industry have to win over bids to build more properties over those who want to try to maintain green spaces. This is the reason why one may find beautiful and spacious homes or townhouses for sale in Manhattan, but the main landscape can be seen from far as a city with tall buildings and limited space to build large private properties. Owning a home in Manhattan is truly glamorous.

View over Manhattan at night, with the lights from the city.

The city is known for its industrial past and some of the historical factories have been transformed into luxury and spacious lofts that can be found in many districts of Manhattan. The condos for sale reflect the prices of some of the most desired pieces of real estate in the world. Some apartments for sale in Manhattan can actually comprise of multiple floors and have as many rooms as a suburban house elsewhere in the United States. Unlike the suburban homes, these multi-floor condos offer breathtaking views at all times of a city whose lights shine and light up the sky from miles away.

Choosing a neighborhood or district to live in Manhattan is a wonderful experience as almost every corner of the city has special attractions for the local residents. Some people may prefer areas where the entertainment and theatres are world renown, others like the more quiet areas of the city. The city has mass transit subway and buses systems that create efficient and quick access to all areas of interest.

Local and International investment in Manhattan properties

Foreign investment in Manhattan real estate has been desirable for many people around the world who are looking to invest in valuable properties that are always in demand. Aside from investments, some people who reside in other cities who are looking to own a second home often choose Manhattan as their preference. Home owners in places such as Miami, Los Angeles, Paris, London and other big cities pride themselves to own a place to call their home in New York. Manhattan will always be on the top of the list of the world’s most famous and attractive cities.

Manhattan’s luxury real estate market

During the Covid pandemic, prices did fall to a certain degree but the real estate market in Manhattan is now bouncing back and is especially growing in the high end luxury property market. Some of the world’s most expensive homes and apartments have been sold right in Manhattan and it is no wonder that the buyers chose this city as their residence. Not many people would accept to invest over 100 million dollars for properties in other cities but Manhattan is able to attract such great investment due to its special character. A Manhattan penthouse was sold for $238 million in 2019, making it one of the most expensive homes ever sold in the United States. It would be challenging to sell a property of that price range in most other cities across the continent! Real estate professionals know that living in a Manhattan home can be priceless. Having a presence in New York City by purchasing real estate there is exciting, profitable and unique. Every square foot of land and real estate has tremendous value and worth.

Manhattan is not only multicultural in regards to its population, but the actual architecture and buildings that comprise this city can vary greatly in style. Some residents and buyers prefer the more historical look of the typical New York apartment buildings while others are more impressed by the shine and glamor of the new constructions that offer more modern styles of living. Both types are charming because they either represent the long history of a city of opportunities or the new shine of a constantly growing and fast paced world superpower.

The real estate market in Manhattan is booming and experts are predicting that the trend of record sales and contracts will continue in the coming years. BARNES New York has the exceptional resources to provide you with all your luxury real estate interests and can guide you in your search for your dream Manhattan home or project. Our properties are unparalleled in prestige and luxury and we are looking forward to present you with the most exclusive places.

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