The second series of live seminar reports to come direct from the National Property Showcase in central London is the ‘The Allure of Overseas Property to the British’ brought to you by Sotheby’s International Realty.
This series of seminars begins with New York property.
New York is a state unlike any other with numerous key locations all with their own unique identities, features and attractions. The Brits love New York
Areas ripe for investment include:
Battery Park, created in 1693 by the British for gun emplacements (battery) to protect the harbor. Its now a very residential area, sales have increased 71% in last 10 years. Views are amazing and a convenient walk from Wall Street.
Brooklyn, originally a grouping of small Dutch settlements in early 1600s. Now one of the hottest markets.
Chelsea, luxury lofts and 19th Century townhouses. Much new development. The area has great restaurants a real community feel.
Fith Avenue, luxury buildings facing Central Park and some of New York’s greatest museums.
Flatiron, iconic 1902 Flatiron Building, one of New York’s first skyscrapers. A very convenient location.
Greenwich Village, one of New York’s earliest neighborhoods with homes dating from as early as the 1820s. For decades after WWI, the center of Bohemian life. Now anchored by New York University.
Harlem, undergoing a renaissance. Elegant 19th Century homes restored to their former beauty and hip new restaurants and clubs.
Lower East Side, an old immigrant neighborhood undergoing full gentrification. One of the hippest areas.
Meatpacking District, former industrial area now home to art galleries, restaurants and luxury lofts. The highline rail road has been converted into a park which adds an extra dimension.
Park Avenue, synonymous with the highest quality. Lined with some of New York’s most elite residential buildings.
Soho, old industrial area first transformed to a haven for artists in the 1970s, and since transformed again into a neighborhood of fashionable shops and restaurants.
TriBeCa, what SoHo was in the 1970s. An old industrial area undergoing rapid transformation. Now one of the most desirable areas.
In terms of price Brooklyn & Harlem are more competitively priced than the other areas. High prices are often asked for condeminum living. There has been an increase in high-end and low end sales, less in the middle.