New York City properties is a real estate market with a lot of demand and limited space to expand. Manhattan in particular is expensive due to its proximity to jobs, rich cultural environment, and due to the convenience to living there. All of this puts upward pressure on rents and makes it difficult for many residents to be ae to afford living here. In addition there are some unique features that drive prices of real estate in New York City, and particularly in Manhattan, that should be considered when obtaining an apartment. This article will highlight some of these factors that greatly influence the price of an New York City apartment and you can decide which of these factors you must have in an apartment and which you can pass up for the cost savings.
A doorman does more than simply hold open the door for you. A doorman will help to improve the safety of your building by only allowing building tenants and their approved guests into a building which reduces the number of unusual individuals roaming around your building. Further they can hold packages that are delivered to you, provide you with information regarding the building and surrounding are, and provide you with general assistance when entering or exiting the building. A doorman building comes at a premium price in New York City, of course, and should therefore be weighted when assessing whether or not you want a doorman building when choosing an apartment.
Elevator buildings and walk-up units are another area that can significantly impact your unit’s price. Elevator buildings are more convenient, particularly when the building is over 5 stories, but walk-up units are more affordable and often contain a unique charm that newer designed buildings lack. Consider how long you plan on staying in a building and whether you mind walking up several flights of stairs during the summer before deciding whether you want an elevator building or a walk-up, but be aware that significant savings are available for those who don’t mind the trek up.
Many New York City apartments don’t have the special amenities that other newer cities have. When you visit other cities virtually all apartment buildings have in –building laundry machines and some have pool or gyms. Pools and gyms are rare in New York City except in the most expensive buildings, though laundry units can be found in some buildings. Consider how important this is for you before selecting an apartment and the alternatives in the neighboring community.
One of the biggest factors that can impact your apartment’s pricing is the proximity to a subway line. Buildings that are a short walking distance from a subway line will cost more than those that require bus trips or other modes of transportation to reach a subway.
Start by understanding the factors that are important to you and contact a real estate agent who is experienced in the area when trying to find the right building for your needs. TOWN real estate is an experienced and high quality real estate broker that can help people find the right apartment for their needs. Contact TOWN real estate with any questions you may have and assistance in understanding the impact that these apartment amenities have on your apartment’s cost.