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Tag: real estate

Invest in Dubai Conference

On May 29th, we hosted the Invest in Dubai conference at Café Boulud within Maison BARNES in New York. The event was a resounding success, showcasing the vibrant investment opportunities in Dubai. Attendees were treated to insightful presentations and discussions, highlighting the dynamic growth and immense potential of Dubai’s market, and investment opportunities enlightened by Ellington Properties Development, Dubai’s leading design-led real estate developer.

The elegant setting of Café Boulud provided the perfect backdrop for this informative and engaging event, bringing together investors and industry experts eager to explore the abundant opportunities in this thriving city.

BARNES Magazine n°35 has just been released

In this edition, we feature François-Paul Journe, the genius of time. Renowned for his exceptional craftsmanship and innovative horology, François-Paul Journe continues to set new standards in the world of fine watchmaking.

In this most recent issue, we also explore the elegance of Francis Kurkdjian, delve into the design passion by the Queens of Design, discover the spirit of entrepreneurship with Reluxury, and shed light on the world of wine with Maison Deutz.

Not forgetting a world tour of our finest properties for sale and for rent.

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BARNES New York at the NYC Real Deal Showcase + Forum 2024

BARNES New York had the opportunity to be present at the Real Deal Showcase + Forum 2024 at the Metropolitan Pavilion in New York on May 8, 2024. The showcase brought together more than 3,000 real estate professionals, developers, investors, brokers, architects, exhibitors and sponsors for a day of exchanges and meetings on the current and future environment of the real estate market.

Speakers like Howard Lutnik, Chairman of Newmark, Francis X. Suarez, Mayor of Miami, and Frances Katzen, Founder of The Katzen Team, were presents to share their insights on the market, and much more.

The BARNES New York team had the pleasure of attending the expo to present the “Art de Vivre” luxury brand and services to the most curious. Representatives from BARNES North America, Miami and New York gathered in NYC for the event, reinforcing the deep ties between the offices which perfectly illustrated BARNES’ international position on the real estate scene.

Maison BARNES: Grand Opening

Step into the realm of exquisite taste and refined elegance as Maison BARNES, the epitome of French savoir-faire, opens its doors on the illustrious 63rd Street. With the culinary mastery of Chef Daniel Boulud gracing its menus, Maison BARNES promises a sensory journey through the essence of France, captivating all five senses with every dish. Indulge in a symphony of flavors meticulously crafted to perfection, where each bite tells a story of tradition and innovation.

Beyond its culinary delights, Maison BARNES unveils a sanctuary where luxury, art, and culture intertwine seamlessly. From the opulent interiors adorned with timeless artwork to the ambient glow of candlelight casting its spell, every corner whispers of sophistication and charm. Join us in raising a glass to new beginnings and timeless moments, as Maison BARNES invites you to partake in an experience where every detail is a celebration of life’s finest pleasures.

Photos by: Eric Vitale Photography

What is the average house price in the Hamptons? 

Even if you have never visited the area, you are surely well aware of the Hamptons and their place in upper class society on the east coast of America. People from all over the country and the world are familiar with the Hamptons and its preeminent spot in culture. 

There is a high volume of mansions in the Hamptons and the several waterfront locations that consist of it. The mansions vary in size and style but they are all top of the line, the best of the best, and very expensive. In fact, the Hamptons is one of the most expensive regions in the country. 

There are countless celebrities populating the Hamptons year round. From retired politicians to CEOs, business people, and Hollywood elite, you’re really somebody if you own a spot in the Hamptons. And while some people do in fact own their property in the area, other people only rent out summer houses, which also cost a pretty penny too. 

If you are one of the lucky few who would like to buy a house in the Hamptons, you need to be aware of a few things, most importantly, the average house price in the Hamptons. Hamptons real estate isn’t always necessarily easy. The good news about the Hamptons is that you are getting a lot of great value for the money you spend. You can rest assured that you’ll invest in a very nice, cutting edge property that will be far nicer than any other home you’ve lived in.

How expensive is it to live in the Hamptons? 

If you are looking to buy a home in the current housing market in the Hamptons, you need to be aware of the median property price in that region.

According to the yearly Town & Country Market Report, the average house price in the Hamptons were up 1.71% since last year. The median average price of a house in this part of the country was about $1,780,000. That is a definite increase from the years before, although the price of a home in the Hamptons varies and you can find something that is both more and less expensive.

The price of housing across the country faced a downward trend during the recent COVID-19 pandemic but that wasn’t the case for housing in the Hamptons. In fact, it was one of the few locations where the price point for most property actually went up during the epidemic. That is because there were many wealthy people from nearby New York City who wanted to escape the hectic, scary situation in the big city and moved to the Hamptons for safety and peace of mind.

What neighborhood should you live in?

One of the best things about the Hamptons is that there are several popular neighborhoods in the area and each of them are well worth your money. They don’t come cheap, of course, but they are all packed with wonderful architecture, terrific amenities, and beautiful views too. 

The most popular neighborhoods in the Hamptons are Southampton, East Hampton, Montauk, and Sag Harbor. Each of them bring their own benefits and, thankfully, the home prices in each area are usually fairly similar.   

What is the average price of a Hamptons single-family? 

Imagine being able to visit the Hamptons during the popular, gorgeous summer months. You’d be just a few minutes away from the beach and your days would be spent in the sun while your nights would be spent around a yummy barbecue and fire pit in your backyard. 

If you’re looking to spend a good amount of time in the Hamptons, buying a single-family house might be a great approach for you. 92.4% of all sales are single-family homes, showing how high the interest is in that region for a more private and spacious living environment compared to condo living closer to the city center.

You can find single-family in the Hamptons for a median sales price of $1,542,000. These will come with the great location that people desire when they move to the Hamptons. It is important to note, however, that they don’t always stay on the market for too long since demand is always high. 

What is the average price of a Hamptons condo? 

The average price of a condo during the last quarter of 2023 was $774,000, with prices on a downward trend from the previous year. Condos sales represented about 7.6% of all the property sales, showing a net preference for single-family housing in the area.  

What is the average price of a Hamptons luxury property? 

The median price of a luxury property during the last quarter of 2023 was $6,195,000 with an 18.5% decrease from the previous year. About 6.6% of all sales in the Hamptons during Q4 2023 were over $5 million dollars.

Summary 

If you are living in the Hamptons, you can be proud of the fact that you’ve finally made it and reside in one of the nicest parts of the country. The area is worth it if you have the desire to live in this luxurious region with easy access to the beach and a quiet living environment. If you are serious about moving to the Hamptons, you should contact us at BARNES New York. We understand that luxury real estate can be complicated but we know the ins and outs of the industry and are ready to find a home that fits you perfectly. 

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Why should you buy an apartment in Chelsea?

If you’ve been looking for a top-notch spot to buy an apartment in New York City, Chelsea is an undeniably excellent choice. This trendy and unique neighborhood is well-known for its stunning art galleries, high-end fashion boutiques, rich culture, and delectable dining options. For these reasons (among others), Chelsea is one of the most sought-after locations for people looking to buy an apartment in Manhattan. 

Whether you’re in the market for a condo or co-op, BARNES New York is here to assist you. Listed below are some of the most compelling reasons why you should consider buying an apartment in Chelsea. It truly is a beautiful neighborhood, and we can guarantee that you won’t regret making the choice to live there! 

What are the benefits of buying an apartment in Chelsea? 

Chelsea is one of the most diverse and exciting neighborhoods in New York City. That much is plain to see! Its thriving art scene and trendy restaurants are just a couple of the reasons why Chelsea attracts people from all walks of life. What makes Chelsea an optimal location for people looking to buy an apartment, you might ask? Check out some of the main benefits of living in Chelsea below. 

Excellent Location  

One of the most notable advantages of buying an apartment in Chelsea is that it’s located in a prime area of the city. Situated on Manhattan’s west side, Chelsea is super close to some of New York City’s most famous landmarks, including the Chelsea Market and the High Line. This particular neighborhood is also well-connected to public transportation, so you’ll have no trouble getting around the city if you reside in this area. 

Vibrant Culture  

Chelsea is home to some of the most extravagant art galleries in the world, including the Gagosian and David Zwirner galleries — so if you’re an art fanatic, this neighborhood would be absolutely perfect for you. Chelsea’s galleries attract art lovers from all over, making this part of the city an absolute hub of creativity and culture. This neighborhood also boasts a vibrant nightlife scene. It boasts numerous bars, clubs, and music venues to suit all tastes, ensuring there’s something for everyone.

Luxury Amenities 

If you’re looking to live in a luxury apartment, Chelsea has plenty of great options to choose from. Chelsea’s apartments offer a blend of old-world charm and modern amenities in beautifully restored pre-war buildings and new developments. These residences often include fitness centers and scenic rooftop terraces, ideal for luxurious living.

Tight-Knit Community 

Chelsea has a strong sense of community, and its residents will often come together for special events and activities. From community gardens to neighborhood cleanups, there are plenty of opportunities for Chelsea residents to get involved and give back. Additionally, many of the co-ops in Chelsea have active boards that foster a sense of community. This ensures well-maintained co-op buildings for those seeking to reside here.

Fabulous Restaurants 

Chelsea is especially known for its diverse culinary scene. Fine dining restaurants in Chelsea — such as Zou Zou’s and the Sea Fire Grill, are known for their elegant ambiance, impeccable service, and sophisticated cuisine. These restaurants use top-quality, often locally sourced ingredients to craft unforgettable, innovative dishes with exquisite flavors and textures.

Excellent Shopping 

Chelsea is an absolute haven for shoppers. The primary Chelsea shopping district, around Fifth Avenue and Madison Avenue, hosts flagship stores for numerous luxury brands. Chelsea Market, a historic indoor market, offers a unique shopping experience with artisanal food stalls and craft shops.

It’s a Great Investment 

Buying an apartment in Chelsea is also quite a smart investment. The neighborhood has seen significant growth and development over the past few years, and many new luxury apartments have been built recently. It’s also worth mentioning that many apartments in Chelsea appreciate in value at an exceptionally quick rate, which means investing in an apartment here could potentially be quite lucrative. The median sales price in October 2023 was $1,663,450 and the price per square foot was about $1,966.*

*Data from UrbanDigs.

Should you buy a Condo or a Co-op in Chelsea? 

There are several key distinctions to bear in mind when purchasing a co-op or condo in Chelsea. The great thing about buying a condo is you’ll have greater control over your apartment and personal living area. You also won’t have to go through the co-op board approval process in order to make repairs and upgrade your apartment. 

That said, if you’d like to own a co-op in Chelsea, there are some definite advantages, such as a lower cost of living. In comparison to condos, co-ops sometimes have stricter rules and restrictions, but this tends to help maintain a greater degree of quality within the building, so it’s definitely worth it. 

Summary 

Chelsea offers a unique and attractive lifestyle that’s hard to find anywhere else in New York City. If you’re looking for a place to call home that offers both urban convenience and a strong sense of community, then Chelsea might just be the perfect neighborhood for you. Take your family to an art gallery or check out some of the shops at Chelsea Market, and see for yourself! If you’d like assistance acquiring an apartment in Chelsea, you shouldn’t hesitate to reach out to BARNES New York. Contact us today for more information! Our team of real estate experts will be happy to answer any questions or concerns you might have. 

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How can BARNES New York help you in your real estate journey?

There are hundreds, if not thousands of real estate brokers in Manhattan alone. When looking at the entire state of New York, there are endless real estate broker choices. When investing in a new home, ensure you choose the right real estate broker for you.

That’s why BARNES New York can help you. BARNES offers expert brokers throughout New York to help you find your dream home.

This guide details why BARNES is one of New York’s top real estate broker. 

Where can BARNES New York help me find a property? 

BARNES can help people find property all over the state of New York. While Manhattan is a main focus because it has the most amount of buyers, there are several other places around the state where BARNES can show you some amazing properties.

Here are the main focus areas: 

  • Manhattan. Let BARNES help you find your new home or apartment in TriBeCa, Lower Manhattan, Midtown, Union Square, Greenwich Village, SoHo, Chinatown, The Lower East Side, and many other places! Just let us know the type of property you’re looking for and your budget.  
  • Brooklyn. Brooklyn is more than just Brooklyn’s downtown itself. You can also find some great apartments and homes in Williamsburg, Dumbo, Brooklyn, Heights, Park Slope, and several other places depending on what amenities you want to be close to.  
  • Queens. Queens is a great place in the state for those who want to be a little outside the city while staying a short distance from Manhattan. You can get a great place in Long Island City, Astoria, or Sunnyside.  
  • The Hamptons. While many people just have their summer home in the Hamptons, there are also other people that are looking to live here full-time. No matter what’s bringing you to the Hamptons, BARNES can help you find great real estate in the area.   
  • Westchester. If you’re looking for a little bit of a less stressful life, Westchester is the area for you. There are many cities in this area that are quickly growing, which means you can find many of the same amenities that you would in New York City while enjoying more space.
  • Connecticut. Connecticut, often referred to as the “Constitution State,” is a small, picturesque state in the northeastern suburbs of New York City, known for its rich history and scenic New England landscapes, offers a quiet and green environment to get away from urban living.

While we cover a wide range, our experts specialize in specific areas, ensuring you work with a knowledgeable professional in your desired location.  

Where should I buy a property with BARNES New York? 

BARNES New York is always working in the strongest real estate markets in the state. With a strong team of experts, we help our clients find the best places for sale in the market.  

Working all over the state, BARNES New York is able to help you buy or rent property virtually anywhere you want.  

If you aren’t sure where you want to live, you can let us know what kind of environment you are searching for and we can advise you on an area we think is best for your needs.

If you want something new that no one else knows about, BARNES is always ahead of the game knowing where all the new developments are located.  

What if I’m looking for something other than an apartment or home? 

Some luxury real estate companies only focus on apartments or homes. While this works fine for some clients and brokers, there are many people all over New York that are searching for more than just a home or apartment.  

This is where BARNES comes in!  

If you’re searching for a huge investment like a castle property in the countryside, BARNES specializes in selling famous chateaus all over the world.

Get ready to step back in time and find one of these historical and luxury castle properties. You’ll feel like you’re in a fairytale. Most of the castle properties are in the French regions. So, although you’re getting out of the state of New York, BARNES can still help their clients find properties all over the world.  

Here are some of the other great things BARNES real estate brokers and salespersons can help you find both in New York and all over the world: 

  • Vineyards. BARNES real estate brokers are experts in both finance and wine when it comes to finding you the perfect vineyard. Their portfolio for the wine industry is extensive. Even if you are in the wine industry, BARNES can help you find the perfect place to begin your business.  
  • Yachting. Some people just use yachts for their vacation time, but there are others that enjoy living on their yachts full-time. BARNES has over 30 years of experience finding people yachts as well as helping you get space to service and keep your yacht all over the world.  
  • Art Advisory. Art advisory is a professional service that assists clients in buying, managing, and appreciating art. It includes art acquisition, market research, collection management, diversification, investment advice, negotiation, auction representation, market insights, curatorial services, and appraisals/authentication. Art advisors help clients navigate the art world and make informed decisions.
  • Business Jets. BARNES helps you fly to any destination on a private jet for your convenience, whenever and wherever you want!

Can BARNES New York help me manage my property?

Yes. Our specific property management department, BARNES International Management (BIM), can help you with real estate assets and property management. We offer quality property management and on demand services to all owners and investors owning a property as secondary home or residential investment in the New York and Miami area, with on site, trusted contact.

What if I want to sell or rent?

BARNES does not just focus on helping people who buy properties. We can also help those that are more interested in selling or renting. Not everyone wants to buy property in New York, so many of our experts just focus on renting to those that are looking to only stay in the state for a short while and who want to test out a few neighborhoods before settling down.

Buying is a big commitment, so if you prefer renting to test the neighborhood’s suitability for long-term living, we will gladly assist you.

Why should I choose BARNES New York to sell my property?

If you want to sell your beloved home or property, you will need to find a great listing broker. Look no further than BARNES. New York has tons of brokers to choose from when it comes to putting your home on the market. You should ensure a broker understands your home’s value to secure the deserved selling price. 

BARNES excels as New York’s top real estate broker by providing meticulous care to any sale properties.

BARNES New York can help ensure you get an amazing sales associate to make the selling plan unique to your property. With this custom approach, you will find that your property gets countless interested buyers willing to give you the price you are asking for.  

Our real estate salespersons have a personalized approach to selling that includes: 

  • Exposure to Multiple Listing Services so that everyone gets a detailed description of the property 
  • Folder for presenting the property to the interested audience members  
  • All properties are featured on the BARNES international website and therefore also get exposure in places like the New York Times and Trulia 
  • Publication in the BARNES Magazine, distributed internationally in more than 180,000 copies
  • Property featured in the BARNES newsletters which has more than 50,000 readers and in dedicated local databases

With these personalized approaches, BARNES New York will help you sell your property with care and trust.

Can BARNES New York help me find new developments?  

If you are undergoing an acquisition project in a new development, you will need to find a broker to help you with your primary residence, secondary residence, or rental investments in a new development.

Finding the best developers can be challenging, but BARNES New York has access to top developers, ensuring you’re in good hands.

Hiring a broker is especially important for the developing process because they are better able to negotiate for you. They can get the best purchase price and carrying costs for you.  

Finding a brand-new apartment in a new development building in New York has many different benefits. Hiring a broker can maximize your profits with their deep knowledge of New York’s real estate markets.

Here are some of the benefits BARNES can offer you when searching for new developments in New York:

  • Finding you the best rental potential and opportunities for resell  
  • Best materials and the best chances for energy efficiency so your utility bills are on the low side  
  • Discounts from the purchase price as well as negotiation from the purchase price, carrying costs, and transaction fees  

Summary

It is hard to find the top real estate broker in New York. Whether renting, selling, or buying, BARNES associates and brokers have the expertise you need!

But we also offer more than just homes and apartments. We offer a wide panel of investment properties, vineyards, and castle properties, as well as yachting and art advisory services.

Contact us today for a consultation. We would be happy to find you the best home or apartment. Let us help you today! 

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BARNES Magazine n°34 is hot off the press

In this edition, we highlight Daniel Boulud, often regarded as ‘the quintessential French chef in the United States.’ Having made New York his home for the past four decades, he is set to unveil Café Boulud in collaboration with la Maison BARNES, on the Upper East Side of Manhattan, this November. This union of two renowned French brands promises to provide guests with a truly unique experience, where they can savor their exceptional skills, warm hospitality, and craftsmanship.

In this most recent issue, we explore the elegance of Bernardaud’s tableware, delve into the design passion of antique dealer Aurélien SERRE, witness the revival of Molli under the guidance of entrepreneur Charlotte de Fayet, and shed light on the dedication of Anne-Aymone Giscard d’Estaing and the SOS Chrétiens d’Orient association.

Not forgetting a world tour of our finest properties for sale and for rent.

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What is the average home price in Queens? 

If you’re flying into New York City, one of the first places you’ll encounter is most likely Queens. This New York City neighborhood features two of the largest airports that greet people in the area. So, if you’re looking to move to an area that’s the epitome of the New York City lifestyle, Queens is the place for you. Plus, Queens is rich with history and American icons. 

Finding a home in Queens can be pricier than looking at other big cities in the United States. Unfortunately, New York City is known for exorbitant prices whether you’re eating out or looking for a place to stay. The housing market in this area is no different from the rest of the higher living costs. However, you can balance this out by finding a job in New York City that pays enough to live comfortably. 

So, are you interested in finding a place to live in Queens but don’t know where to start? We will discuss the average home price in Queens based on location, size, and home features. Our guide can help you make a seamless move to New York City. 

How expensive is it to live in Queens? 

The reasons for getting a property in New York City are obvious. There are plenty of places to work, eat, and hang out in the city that never sleeps. You can get apartments, condos, townhouses, and penthouses when you live in Queens. There’s no limit to the type of investment properties you can find while looking through realtor listings. It’s also important to pay attention to the neighborhood you choose, so you and your family feel comfortable in your new home. 

The location of your Queens home can have a huge impact on how much you’ll pay for the purchase. For example, if you’re looking for a house that’s close to the action, then you’ll spend much more than a house on the outskirts of the city. Many people are looking for a house that’s within walking distance from New York’s finest attractions, or at least close to a subway station.

As of September 2023, the median sale price for homes in Queens is $478,000* but varies significantly based on the features that come with the home. For example, if you want to purchase an apartment that’s high up, so you have a beautiful view of the city, that will cost you more. Neighborhoods like Malba, Queensboro Hill and College Point, as well as Hunters Point, right across from Manhattan, are among the most expensive areas in Queens.

*Data from PropertyShark

What neighborhood should you live in? 

Whenever you choose a place to live in New York, it’s important to consider all of the neighborhoods in the area you’re interested in. The neighborhood you choose should be suitable to your home life and close to places you enjoy. For example, you might prioritize living in a neighborhood close to work over neighborhoods offering other features. 

Plenty of people live in Queens and seek the suburban lifestyle. Having a relaxing place to start a family is a great way to feel confident about life ventures. However, no matter where you live in Queens, there are plenty of ways to access the urban parts of NYC. So, you can enjoy the peace of living in a quiet neighborhood, like Forrest Hills, or choose a neighborhood close to Manhattan, like Astoria. 

The Queens neighborhood that works best for you depends on your financial situation and the places you visit most often. Astoria is one of the most popular neighborhoods in Queens because it’s the easiest way to access the big city parts of New York City. However, plenty of people prefer a quiet environment over convenience. Finding a property for sale in Queens is easy, depending on your neighborhood. 

What is the average price of a Queens penthouse? 

So, are you looking to buy a property in Queens? One of the most popular options for Queens real estate is the penthouses. You can enjoy the beautiful views offered by these penthouses as soon as you wake up in the morning. This type of property overlooks some of the most vibrant places in New York City and nearby. 

The median sales price in Queens for a penthouse fluctuates depending on the neighborhood. Some neighborhoods go for higher values than others in New York City, which isn’t too surprising. However, the most expensive Queens condo listed as of early 2023 was almost $5 million. They can get pricey depending on the features they offer, especially for luxury living. 

* Data from The Wall Street Journal

What is the average price of a Queens townhouse? 

Another popular way to enjoy living in Queens is to get a townhouse. People enjoy these types of properties because they can feel more traditional than other types of NYC properties. The amount you’ll spend on a Queens townhouse is usually around $752,000, but the price changes a lot depending on features and location. People feel comfortable living in a townhouse because it offers classic suburban living. 

What is the average price of a Queens condo or coop? 

People who value convenience over other aspects of Property buying love living in a condo. It’s common for condos to offer a local gym, meeting halls, and central locations. However, you can purchase a luxurious condo in Manhattan or one that has the bare minimum for your comfort level. The median cost for Queens real estate that surrounds condos is $685,000 as of September 2023, while the coop market started at around $293,000.

Summary 

So, are you ready to buy a property in Queens based on this information? There is no shortage of things to do in Queens, and you can reap the benefits of a suburban lifestyle. There are several neighborhoods you can choose from, and are our team of experts will gladly assist you with the decision. We are familiar with the Queens area and dedicated to helping our clients. Contact us today for a consultation so we can help you get the Queens real estate property of your dreams. 

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What is the New York City real estate market like?

Even if you have never been there before, you are surely aware that there are few cities in the world like New York City. The biggest city in America is also one of the most beloved and recognized on all of Earth. From business to nightlife to culture to restaurants and more, New York City has it all.  

It is one of the most popular places in the world and that means that it has one of the most famous real estate markets too. The real estate market in New York City is known as a good barometer for the entire country and world. When real estate in New York City becomes more expensive, it often signals a trend that will impact other major cities worldwide.

There is a lot to know about buying real estate in New York City. It’s unlike any other city on Earth because of the various things you need to keep in mind. Just saying you want to move to New York City isn’t enough. You should know the location, type of residence, benefits, and more.

But investing your money in the New York City real estate market is almost always a good idea. It has pushed through some of the toughest world events ever – including over the last few years. This proves that, even in the worst of times, the New York City real estate market is strong and will always bounce back. The resilient New York City market is a compelling reason to consider investing in it, whether you seek a home for sale or apartments for sale. 

Let’s take a deeper look into the current state of the market in the city that never sleeps. Is now a good time to buy into New York City real estate, either as someone wanting to move there or someone wanting to invest? What other things should you be aware of when you are contemplating a move as big as this one? 

How much does it cost to buy into New York City Real Estate? 

According to UrbanDigs, Manhattan’s median home prices were down about 3.3% in the month of September 2023 compared to the previous year. The median sale price for a house in Manhattan was $1,152,066 and was on the market for about 75 days. The median sale price per square foot in Manhattan is $1,438, down 0.7% since last year. 

Brooklyn is seeing a different trend, with a per square foot of about $976 in September 2023, showing a 2.2% increase from last year. The median sale price also rose to $961,000, a 0.9% increase year-over-year.

The market is primed for someone, even a first time buyer, to make a mark on the New York City real estate market. With prices dropping, you will be able to spend less money. And with the amount of sales reaching a ten-year low, the market place is filled with locations that are ready to be grabbed up. It is important to note, however, that the supply of homes right now is historically low. 

From luxury apartments, single-family buildings, condo, townhouses, penthouses, and beyond, New York is ready to offer something at the lowest prices it’s had in ages.

Why should you buy homes in New York? 

Besides favorable pricing, there are numerous reasons to invest in the current New York City real estate market, not solely due to affordability.  

New York City is a cultural mecca that has something to offer just about anyone who moves there. Whether you’re a theater-goer, a business person, a family man or woman, or just someone trying to set off on your own and live your life, you will have plenty to do and enjoy in New York. This is one of the reasons why it’s the most populated city in all of America – people love living there. 

Here are just a few things that should convince you that moving to New York or buying property there is a great idea. 

The Location

It goes without saying but New York City truly is at the center of everything in many ways. 

New York City is home to Broadway, where the finest plays in the world are performed to adoring crowds. It is also the center of the business world, with many Fortune 500 companies making their homes in NYC. But beyond that, New York is a place where cultures from all over the world mix together and live in harmony. With this, you are able to witness events that you wouldn’t see anywhere else, try cuisine that is mouth-watering, and experience different world views.  

Plus, one of the best things about living in New York City is that you can enjoy these things from any part of it. Because of the great public transportation system in place, you can visit any part of the city with ease. 

The Resale Value 

Right now, the prices and demand for houses in New York City are at a low. However, it won’t always be that way. As it always does, the New York City real estate market will rebound and the prices will go up in time.  

That will help you in the long run because your resale value will grow in the next few years. A home that you buy now will be worth even more, and will garner you an even higher price point. For those who look to buy real estate as a smart investment choice, buying in New York City right now might be one of the smartest. 

The Strength of the Market 

New York City has been through a lot since its founding hundreds of years ago. From world wars, terrorist attacks, pandemics, and more, New York City and its real estate market has always stayed steady and held fast and then grew again. 

There are few cities that have proven their resilience like New York and few real estate markets like theirs too. Despite worsening market conditions in New York, the city’s strong history and evidence of resilience instill confidence.

Summary 

There are very few cities in the world like New York City. From the offerings of food, culture, public transportation, business, and more, there really is something for everyone in the Big Apple.  

The truth is that the New York City real estate market is going through a period of change. Some of the biggest indicators of the market are at decade lows, which raises the alarm for some people. Despite surface appearances, there’s a significant opportunity in the New York City market, particularly for investors.

If you feel that now is the right time for you to buy into New York, you should call upon our expert team at BARNES New York. From New York City and beyond, we know the most intricate and minute details that should be paid attention to. 

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