Real Estate Industry in New York

Posted by PhotoPhil on October 1, 2015 in Real Estate |

According to a survey conducted by New York real estate brokers, many home buyers are searching for homes with private outdoor space in and around New York City. In a report released on New York Times, there are several listings with private gardens in Staten Island. Home buyers on who prefer other boroughs would need to be more patient when searching for listings with green space. Some listings have outdoor spaces that are shared with neighbors.

In Brooklyn for instance, there is a co-op studio with a private garden with Japanese maple as well as brick paths. It is very spacious even to accommodate a few chairs and a table. An associate broker at Halstead Property listed this unit for $435,000. The garden has about 500 square feet, considerably bigger than the apartment. Majority of townhouses in Brooklyn are not even close to the sub-$500,000 price and what they can offer is a barely usable balcony. In deeper areas of Brooklyn, the prices are considerably lower and several apartments have green space. According to brokers, lawn separating apartments are considered as outdoor space.

In Manhattan, there are many penthouses with terraces, but they are highly priced. In this borough, the average price of an apartment was $1.87 million in the second quarter of 2015. This analysis was conducted for the Douglas Elliman a local brokerage firm. In Bronx, you will struggle to find a listing with private garden for less than $500,000. On the far edges of this area, you will find apartments with sweeping view as well as fresh air. In this area, many buildings were constructed in the second half of 20th century have spacious balconies.

In Upper Manhattan area especially in Hamilton Heights, there are townhouses with private outdoor space, but courtyards, roof decks or patios are shared among between neighbors. Three decades ago, yards in this area were filled with trash according to a listing agent who has lived in this place since 1985. Residents were not using their yards back then, but today they are embracing them a lot.

When looking for NYC apartments for rent, you should involve the best specialist like TOWN Residential. It is a leading New York real estate firm founded in 2010. The firm has a team of professionals who are equipped with excellent industry knowledge to address the needs of home buyers accordingly. The representatives of this firm are the best in the industry because they offer expertise service to their clients.

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