Home RSS
Real Estate

Make it in Manhattan: Stylish, sexy New York is once again luring buyers from overseas

Prime location: Apartments close to Central Park

Prime location: Apartments close to Central Park

New York is one of the most vibrant cities on earth. We make pilgrimages there to party, pose and shop. But does the property market have equal dazzle?

In trendy locations, undoubtedly. Wealthy Britons buying in the Big Apple look to Tribeca (the Triangle Below Canal Street), where artists discovered loft living in the Sixties, and SoHo (South of Houston Street), where the landscape has a European feel with cast-iron balconies and low-rise blocks built to house Italian immigrants arriving in the 19th century. 

There is also Chelsea, a popular artistic and gay quarter, with loft buildings and brownstone family houses, and the legendary bohemian area of Greenwich Village. 

Prime Manhattan real estate close to Central Park attracts the highest prices. And the prices are reputedly the lowest they will go. 

According to the Corcoran estate agency, one of the largest in the city, they're between 10 per cent and 20 per cent lower in New York City than at this time last year. 

The average cost of a Manhattan apartment is said to be about £470,000. In other areas, average home values range from £270,000 to £400,000.


Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.