Manhattan is a Mecca for property investors regardless of whether they live in New York City or not. In the not too distant past, London was in direct completion with New York for investor’s consideration. With the uncertain future caused by Brexit, the unstable British currency, and shrinking property values, condos for sale in NYC have become the primary destination for investors seeking constant and consistent property appreciation, and capital preservation. Buying property in Manhattan is a good investment, but there are issues to consider.
Manhattan condominiums, including 35 Hudson Yards, have demonstrated stable appreciation. Historically, condos have increased in value from five to 15 percent annually. This financial appreciation has been driven by demand as well as inflation. Investors wanting to own property in NYC, as well as an every growing population, have driven demand for homes. Every year, college graduates and corporate professionals move to Manhattan. Living in Manhattan is a status symbol, but there is a limited supply of housing available. In a typical city, homebuilders and property developers have the opportunity to move further and further away from the core. In Manhattan, developers only feasible option is to build high-rise towers
What sets gracious condo living apart from other available housing options is the attention given to the environment. The most desirable condos in West Chelsea offer a host of amenities for the exclusive use of residents and their guests. Fitness centers have a full complement of state-of-the-art equipment. In addition, expect the best condominium development to include a resident’s lounge and bar, billiard tables, a golf simulator, spa, and private dining facilities. For families with small children, 35 Hudson Yards has a fully fitted children’s playground. Finally, for those who want to take a day away from the office, but still get work done, there are private offices and a boardroom.
