Tag: home

Tips for Millennials When Saving for a Home in NYC

The cost of housing may be going up, but millennials could account for 43 percent of property buyers in the United States over the next several months. If you are a part of this demographic and you plan to buy a home in New York City soon, here are some tips that will help you save for your big purchase.

Keep an Open Mind

New York is one of the most expensive places to live, so you might not have as many options as you think you do. Instead of accepting nothing less than a posh Manhattan apartment, be prepared to look at other places that might be more affordable. It’s a great way to keep your options open, even if you ultimately don’t end up where you originally planned to live.

Consult a Mortgage Expert

Before you start shopping around for homes, speak to a mortgage expert to determine what you can afford for a down payment and your future mortgage payments. That will give you a better idea of what you should be looking for.

Stay in One Place or Downsize

Since it costs so much to live in even a small New York apartment, you might need to spend a couple of years saving money. To make this easier, either remain in the home you are in now or downsize. If you won’t have to spend the extra money you make on living expenses, you can set that aside for the kind of home you really want.

Be Patient

Even though we did say that you should keep an open mind and be prepared to look at homes outside of where you originally planned to live, there’s nothing wrong with being patient and waiting for something you love to open up. Buying a home is a long process, especially when you want to live in a place as expensive as New York City. It will take time to save up enough money and be approved for a loan anyway. You can wait a little bit longer for the perfect home to become available.

Affordable NYC Housing – Summer 2018

Affordable housing in the wonderful city of New York isn’t the easiest to find, but have no fear, there is a light at the end of this tunnel. Recently, New York’s Curbed posted an article on some of the most affordable locations within our metropolitan. Spots are filling up quickly though so apply right away!

Manhattan West
This megabuilding is a 62-story tower located in the western part of Manhattan. There are a few floor plans to choose from including one-bedrooms, two-bedrooms, and just a couple of three-bedrooms. Rent can range from $600+/month to $2,500+/month. They have an application deadline of July 10 so act quickly.

222 East 4th St
Located only a few blocks from Grand Central is a 42-story rental. The deadline to apply for this location is July 2. It’s finishing up its development by BLDG Management with the design of Handel Architects. At its completion, it will be home to 300+ units. Rent is estimated to be between $600+/month and $2,700+/month for a mix of studios, one-bedroom, and two-bedroom units.

Tremont Renaissance
This 12-story development is located at 4215 Park Ave in the Bronx Tremont neighborhood. The units throughout this building have a rent between $800+/month and $1,900+/month. Great for singles and also families.

Hunters Landing
59 affordable units are offered at Hunters Landing, just a few blocks from the train stop on Hunters Point Avenue. These units, ranging from a studio to a three-bedroom, are offered exclusively to middle-income New Yorkers.

1 Flatbush Ave
The Brooklyn rental, located on Flatbush Ave and Fulton St, is a 19-story building that has just opened a lottery for their 37 available units. Although a majority of the rentals are studios, there are a few one- and two-bedroom units as well. Rent rates are from $900+/month and $1,100+/month.

The Maya
Possibly one of the best apartment complexes in New York City is the Maya, located in the Jamaica region of Queens. Each of the units, including all from studio to three-bedroom, feature an outdoor space, indoor/outdoor parking, a fitness center, and a rooftop terrace. Rents are in the range of $1,400+/month and $2,200+/month.

5 Nicest Celebrity Homes in New York City

Kevin BrunnockSociety’s elite, wealthy and famous are best positioned to afford luxurious New York City real estate.

For most middle-class Americans, purchasing a nice home in a big city such as San Francisco, New York City, Los Angeles, Dallas, or Boston, is something that one can only dream of. Not only are homes in these bustling areas come at a steep price, but the square footage per unit is rather small. Perhaps this is the reason there are so many celebrity homes located in the Big Apple; only the most elite individuals in society can afford the luxurious New York City real estate.

Sold for a cool $4.9 million, Daniel Radcliffe purchased his three-bedroom apartment overlooking the New York Harbor back in 2008. After choosing a bottle of wine from the home’s 500-bottle wine cellar, Radcliffe and his guests can watch the sunset through the beautiful curved windows. Complete with granite and marble countertops, this house is now valued at $5.2 million.

While the views in Radcliffe’s apartment are phenomenal, other celebrities prefer a more secluded and quiet space to come home to after a hard day’s work. Located in Chelsea, Cameron Diaz purchased her apartment for $9 million. The home features soundproof floors and walls that are 18-inches thick, ensuring maximum privacy to its residents. This cozy and warm retreat is one of the best pieces of real estate in the city, which is why there was a bidding war among several stars within the entertainment industry.

Another celebrity home that makes the list is Leonardo DiCaprio’s luxury green apartment located just north of New York City’s Financial District. Amenities in this two-bedroom piece of paradise include a wellness concierge and vitamin C-infused showers. Valued at $10 million, Leo’s sanctuary is located in Greenwich Village.

Bought for a whopping $14 million, Tom Brady and Gisele Bundchen’s mansion can be found in the Flatiron District. This three-bedroom condo is located on the 47th floor of a high-rise unit located in the heart of Manhattan. The marble countertops and floor-to-ceiling windows provide spectacular 360 views of the city all throughout the day.

Closing out the list of 5 nicest celebrity homes in New York City is Kelly Ripa and Mark Consuelos’ newly renovated SoHo penthouse. This piece of the lavish real estate includes a rooftop deck, top-of-the-line home gym, outdoor fireplace, and brand new white oak floors. Valued at $24.5 million, this five-bed, four-bath apartment is hands-down one of the best celebrity homes in the Big Apple.

To learn more about NYC celebrity homes, check out the articles published on the sites MyDomaine.com and Business Insider: http://www.mydomaine.com/celebrity-apartments-nyc and http://www.businessinsider.com/celebrity-homes-in-new-york-city-2014-6?op=1/#-peter-jacksons-duplex-duo-21