An aerial view of the Long Island City waterfront. Now, the real estate market might be ready to roar. 500,000 range could pay off in biggest real estate investment companies few years.
With rentals increasing in price on a quarterly basis, buyers can still pay less per month to own. We like the areas five to 10 minutes from Manhattan,” says Benaim. We feel they offer great bang for the buck. Inventory is going down there as well. It’s never too late to start a real estate empire, especially as big developers see construction loans come in and neighborhoods all over the city improve due to infrastructure changes and retail enhancements.
Here are 10 neighborhoods to look at, and some projects in those areas that could pay off with a little patience. This is the still the hottest neighborhood on Earth. Walk the streets day and night to see hordes of young people from all over the globe. During the day, it’s quiet and casual. At night, the streets are packed. Lately, like any other great neighborhood, young families and empty-nesters have come to Williamsburg looking for some life. The riverfront park by waterfront condos the Edge and North Side Piers feel like a resort.
Allswell, a new restaurant from some Spotted Pig alums, serves farm-fresh food, tasty cocktails and pies and tarts for sweet tooths. 500,000 can buy a two-bedroom in a number of boutique condos. Dave Maundrell, has new developments, rentals and top area listings. While renters flock to this neighborhood on the water for value, smart home buyers look here for living experience and investment.
Home prices remain stable while inventory disappears. That means prices can only go up in the years to come. Lots of room for loft conversions. They have listings at all price points. For New Yorkers on the move who like the outdoors, Battery Park offers an eco-friendly response to city grime. Recent deals for studios across several buildings show value potential in owning and investing. At 225 Rector Place, from Related Companies with design by New York-based Clodagh, amenities include an indoor swimming pool with skylight, roof lounge, sun deck, kid’s room and fitness center.
The Hudson River is steps away. The Conrad New York is a new local destination. To buy: Related Companies has a strong rental building called Tribeca Green and condo at 225 Rector Place. Just a 10-minute bike ride to Wall St. The area still has grit, and Orthodox Jewish, Latino and Asian populations. Young families who see the area as a place to raise children are the latest population boom. A condo conversion of an old school, the Madison Jackson, is also off and running.
All units have two stories and double-height ceilings. For an artist who wants a lower East Side lifestyle, these no-frill homes work. We hear investors want to buy multiple units. For info on Madison Jackson, go to Madison-Lackson. Say what you want about the new Barclays arena, but big-money projects that change cities almost never hurt property value. The Staples Center in Los Angeles was severely criticized for years. Now the area around it is the biggest boom town in Southern California.