Tag: new york city (page 1 of 2)

4 Reasons to Live in NYC

If you’re looking for a new city to move to, you should be considering New York City. There are many reasons that 8.6 million people have chosen to call this great city home. In addition to our world-class museums and entertainment, here are four reasons to live in NYC.

 

1.  NYC is where many great things begin.

If you enjoy being in the “center of the action” or being the first to experience new things, NYC is the place to be. Many great new things start in New York City, including technology, architecture, and music. 

 

2. You can be “green” in NYC.

When you live in New York City, you can opt-out of driving a car. Instead, you can choose to walk to many destinations or, if you have a longer commute, the subway is always an option. Furthermore, an increasing number of apartment complexes are also now composting and recycling. You’ll also find that most places to live in NYC require less energy due to the vertical nature of the buildings. 

 

3. NYC is full of history.

Whether or not you are a history buff, it’s hard not to enjoy the history around NYC. The city’s architecture is full of rich history. Some of the most famous buildings, statues, and monuments are here. New York City is also often the center of “history in the making.” An example is the super tall buildings that are breaking records and will transform the skyline by 2022.

 

4. Nowhere else has the same amount of diversity or variety.

New York City is one of the most (if not the most) diverse cities in the world. Here you can find people of every culture in the world. As a result, you’ll also find restaurants and other bits of culture from across our planet.

How New York’s New Rent Laws Will Affect Real Estate

Tenant protection laws were first introduced to New York City in 1920. The country was recovering from World War I and many landlords were raising rents monthly due to a housing shortage. 

Just this month, landlords and legislators are having similar conversations about New York’s rent laws. On June 14, 2019, New York State and Assembly leaders passed new laws to protect tenants by controlling rent in New York. In light of the new law, landlords will have limited ability to raise rents, even if renovate their buildings or apartment complexes. Landlords can also no longer be able to raise rents due to vacancies or deregulate apartments.

So what does this mean for NYC real estate? 

The new laws have shocked New York’s real estate investors. Some landlords and investors are concerned that they will not be able to cover the costs of maintaining buildings without the ability to raise the rent. This leads to concerns that property values will decrease and many landlords will choose to sell. 

Some people, however, are seeing opportunity in the new market. Some property owners who will now struggle to stay afloat will be looking to sell quickly and likely for lower prices than they would have otherwise. Furthermore, the newly passed laws are expected to cause foreclosures, which lower property values. Investors who are able to take advantage of the lower prices for property may be in luck. 

The long-term effects of these new laws have yet to be seen. While it’s likely that some investors will suffer as a result of the new restrictions, others may flourish. Many have theorized on the potential outcomes, but it will take time before the consequences come to fruition. In other words, “only time will tell.”

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.

NYC Neighborhood Guide: Where Tourist Must Visit

 

Planning a trip to New York City? Below you will find a handful of the top attractions, places to see, and which neighborhoods in New York to visit during your vacation.

 

Downtown

Financial District (Wall Street)

 

The financial district or better known as Wall Street encompasses the entire southern tip of Manhattan and is considered the economic capital of the country.

 

Things to do in the Financial District

 

You should take a trip to Battery Park at the southern tip of Manhattan for a stroll through flower gardens and waterfront landscape. Catch a ferry to the Statue of Liberty and Ellis Island to learn about immigration to the United States through NYC.

 

Explore the moving 9/11 Memorial & Museum, located on the former site of the World Trade Center. Here you’ll find a monument to the lives lost in 1993 and 2001 and learn about the brave history of those who lived through the tragedy and helped to rebuild this iconic part of NYC.

 

See what all the excitement is about at the headquarters of the New York Stock exchange. Stop by the impressive federal Hall building and be sure not to miss 40 Wall Street.

 

Little Italy & Chinatown

 

Little Italy and Chinatown are two distinct neighborhoods that represent two different cultures with an emphasis on one common thing. That thing being delicious, ethnic food.

 

Things to do in Chinatown

 

Be sure to stop by Mott and Grand Streets for exotic food stands busy markets and little shops. If you want a little cultural perspective and for a better understanding of Chinatown, the world’s largest Chinatown outside of Asia, visit the Museum of Chinese in America.

Things to do in Little Italy

 

Check out the boutique shopping scene in NoLlta (North of Little Italy). Then head to grab some delicious Italian cultured food at any of the popular restaurants along Mulberry Street. Then poke around the specialty shops to see all the imported Italian treats.

 

After you’ve shopped and tasted your way through the North of Little Italy, head to the Italian American Museum for a cultural account of Italian immigration to the United States.

2019 NYC Housing Predictions: What to Expect Next Year

The bumpy sales market that took place in 2018 has been a turbulent time for New York City real estate. Luxury prices have continued to sink, and transportation headaches have played a big role in driving market dynamics. Given that the housing market looks different than it did a year ago, here are six broader trends we see dominating 2019.

 

The Buyers Market is Staying

 

The number of homes listed for sale hit all-time highs during 2018, yet recorded sales throughout the city fell. More New Yorkers – seeking to accommodate a growing family, to relocate, or simply to cash out their investment – will inevitably look to sell in 2019, adding to a market that’s already saturated. These sellers will need to take much greater measures to move their homes.

 

Queens is the exception

 

The big outlier in the sales market in 2018 was Queens. Prices there have risen at a consistently faster pace than in Brooklyn or Manhatten, yet remain relatively affordable, with an average listing price of $657,000, compared to Manhatten’s $1.39 million and Brooklyn’s $950,000. Much of the enduring price growth in the borough is attributable to making up for lost time.

 

Downtown is the New Downtown

 

With interest rates and sales prices high, renting will remain more attractive than buying for many New Yorkers in 2019. We expect competition for rental units in many of the city’s priciest, most central neighborhoods to heat up next summer. Rents in newly chic neighborhoods in outer-boroughs now equal in many Manhattan neighborhoods. This past fall, median rents for 1-bedroom apartments in Dumbo, Downtown Brooklyn, and Long Island City exceeded those in Chelsea, Nolita, and the East Village, respectively. Outer-borough new construction may still offer more per dollar in terms of space and amenities, but with roughly similar median prices in many outer-borough and Manhattan neighborhoods, choosing among them has become a matter of preference than affordability.

 

Bedlam on Bedford Avenue

The popular commuting line, the L train, will shut down for 18 months beginning April 27. The market for nearby rentals has been weakening over the course of 2018, as longtime residents decamp for more convenient neighborhoods. Nonetheless, people still have a lot of interest in the neighborhood.

The Best Cheap Neighborhoods in NYC

For a certain rarified class home buyer, money is no object. For the rest of us, it’s nice to find a deal. However just because something is affordable, doesn’t mean it should be unappealing.

The following NYC Neighborhoods are calculated based on a cost-per-room metric, presuming that most homes are shared among families and roommates, the ease of their commutes, crime rates, noise complaints, green spaces, and bike friendliness.

From established enclaves like Forest Hills to up-and-coming areas like the Bronx’s Concourse neighborhood, these are places that balance both cost and quality of life.

Windsor Terrace

Tucked away at the southwestern end of Prospect Park, this tranquil spot feels more like a sleepy Hudson River village than the middle of Brooklyn. That small-town vibe can mean fewer shopping and nightlife options than other areas though. Prices remain relatively low compared to prime Brooklyn hoods.

Forest Hills

This leafy Queens spot is quiet, but not too quiet. The tree-lined neighborhood is more bucolic than most NYC hoods. There are also great shopping options such as Sephora, clothing stores, good ramen, and Chinese food, and good bars.

Roosevelt Island

A renovated Manhatten co-op for a mere $800 per square foot? Welcome to Roosevelt Island. This strip of land in the middle of the East River is technically part of Manhatten, making it one of the borough’s more affordable nabes. Data visualization designer Silvio DaSilva moved to the island from Chelsea at the end of 2016. She was immediately drawn by lower prices and what she says is a relaxed, almost suburban lifestyle.

The river views are good too. Linked to the city by the F train and the tram, the area draws steady interest from Queens residents and, occasionally, from mainland Manhattanites. That’s probably due to the spot’s unique vibe.

Bay Ridge

Rounding out the southwest corner of Brooklyn, Bay Ridge isn’t the most accessible of neighborhoods, but between its scenic harbor views, solid shopping, and dining scenes, and affordable prices, why would you want to leave anyway?

The neighborhood contains some of the city’s best Greek, Italian and Middle Eastern food. It also has a quiet, green, and authentic New York feel.

Clinton Hill

With an average price per square foot of $1,013, Clinton Hill doesn’t seem that affordable on the face of it. But with average prices per square foot in spots like neighboring Prospect Heights approaching the $1,300 mark, the area counts as something of a bargain.

It’s also one of the greenest neighborhoods in Brooklyn, with leafy streets and charming brownstones.


 

Top NYC Neighborhoods to Live in

New York City is one of the most expensive costs of living in the country, making it the ultimate challenge to find a place to live.

 

Many factors depend on where you want to live and where you can afford to live. Neighborhoods vary from their peak cost and downfalls when it comes to price, commute distance, transportation access, nightlife, and other lifestyle amenities.

 

A company that compiles information on cities called Niche, recently released its annual ranking of the best neighborhoods in New York City.

 

These neighborhoods range from historic to hip and pose their own identities and can offer residents a sense of home in a city of over 8 million people.

 

Below are the best New York City neighborhoods to live in:

 

Hell’s Kitchen

 

Hell’s Kitchen is also known as Midtown West, was once a poor and working-class neighborhood that has steadily gentrified over a couple of decades. This neighborhood is within close proximity to many Broadway theaters and the famed Actors Studio. The neighborhood then became a popular area for aspiring actors. Hell’s Kitchen has a shorter commute time and offers a lively nightlife scene for its residents.

 

Flatiron District  

 

This is home of the Flatiron Building, one of the older skyscrapers in the city, at the intersection of Broadway and Fifth Avenue. The Flatiron District features a great restaurant scene, upscale real estate, and an impressive stretch of shopping. It is also becoming known as a huge area for fitness clubs.

 

Greenwich Village

 

Greenwich Village possesses its own sense of character and charm within the city. The neighborhood has served as a home to the creative community, the LGBT movement, and New York University. The area is now a melting pot of its own, filled with bustling restaurants and venues while keeping its small community feel.

 

Brooklyn Heights

 

Brooklyn Heights is located just off the Brooklyn Bridge along the East River and has a historic feel within close proximity of Manhattan. The neighborhood contains more than 600 pre-Civil War houses and has become a popular neighborhood for families. The area has been called New York’s First Suburb.

New to NYC? Start Your Property Search Here!

New York City real estate can be an intimidating topic to broach in a conversation with non-natives. The thought of hundreds of different neighborhoods combined with safety concerns and price sensitivity is enough to stress even the most relaxed outsider. And yet they flock here in droves, searching for a tiny piece of the city to call their own.

I recently came across a list of the Best Neighborhoods in New York City for Newcomers and thought it ideal for alleviating some of the stress mentioned above. Start your search here if you are looking to begin building your adult life in New York.

Lower East Side (LES)

Apartments on the Lower East Side tend to be slightly more affordable than other parts of Manhattan. Buyer beware, however. A desirable location near restaurants, bars, and Insta-famous boutiques translates to limited availability.

Astoria

If budget plays a significant role in your search for housing, then you may want to consider Astoria. Not only is the real estate reasonably priced (at the moment), but the overall cost of living tends to be a bit more affordable in the area. Astoria is not located in Manhattan, but it is close enough for a quick commute.

Murray Hill

Murray Hill is perfect for newly minted college grads with money to spend. Several large townhouses with gorgeous historical details fill the neighborhood.  The location is ideal, and the nightlife is legendary, but the pricing can be quite high, so I’d consider roommates before choosing to move to this particular neighborhood.

Williamsburg (Brooklyn)

Famous for food and art, Williamsburg has been attracting a creative crowd for some time now. Its constant influx of artists promotes consistent revitalization and some of the best trendy shops around. That being said, it can be quite costly to live there. If you like the idea of this vibrant cultural community but lack the purse strings to live in its vivacious center, try considering property on its outskirts.

Harlem

Interest abounds in this historic New York City neighborhood. Although it is best known for a jazzy awakening in the ‘20s, today Harlem caters to a wide range of culturally diverse individuals. Housing is moderately priced, so the area is best for professionals that are in bed at a regular hour.

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.

New York City’s Subway and Its Interesting Past

New York City's Subway and Its Interesting Past _ Kevin BrunnockThe New York City subway system is a mysterious beast, full of mystery, secrets, and delights.

The people using it seem to know it as well, looking into the dark tunnels for their next train, some no doubt wondering about what lies inside, if the stories are true, never giving it too much thought. However, plenty of stories do exist that back up the thoughts.

Subway mosaics with fancy lettering exist throughout various stations, the City College and Columbia University stop even having a rivalry, pulling out all the stops to make the stops pretty, according to Philip Ashforth Coppola’s book on the subway. The beaver at the Astor Place station as a tribute to John Jacob Astor… which is nothing compared to the rumors it is reportedly haunted. Other places that could be haunted? Stations built and never used, such as Williamsburg’s South 4th Street station.

Aside from details and flourishes that people pass by daily, the subway has plenty of history to look back on. From the graffiti-laden subway cars that were once painted all white to the Nostalgia Train Rides implemented by the MTA every year. From the almost interminable construction that goes on, with the longest operation being the 2nd Avenue line, technically being worked on since 1920.
The irony of this rich history is that new subway lines have hardly been developed since 1940. The high cost of construction has skyrocketed since the 1980’s according to research, compounding the problems present with the subway budget crisis on top of the difficulty with labor relations. The thought that so much exists and was put into place in a relatively short amount of time is wondrous when considering there are 469 subway stops in operation.

As far as the world knows, the subways are relatively safe now, a far cry from the vigilante groups who used to roam the subways to protect riders, the most famous one being the Guardian Angels. Considering the 4 train was called the Mugger’s Express one bit, the strategies implemented seem to have work, therefore don’t be afraid, get on the trains and see for yourself, as commuters gloss over a multitude of historical artifacts every day while riding daily. Get out there and see for yourself!