When people think about the individuals who are typically buying luxury apartments in major metropolitan cities like New York, the image that comes to mind is typically one of looking to live in the exclusive buildings in central Manhattan.
A new report indicates that this image is outdated and no longer the current reality. Luxury home buyers and renters are increasingly younger and earned their fortune rather than inherited it. The NYC properties that they are looking for are quite different from those that attracted the older generation of NYC luxury home buyers.
While Manhattan is still the place to be, new luxury buyers of NYC properties are increasingly looking to modern high rise buildings for their living spaces. The high rise buildings that they are looking at are modern, often new construction, and have a number of different amenities. Centralized locations are also one of the most important factors for luxury unit buyers who want to be near their places of business in order to have easy access to their office space and businesses, as well as to an outcrop of highly competent employees.
The Aggregate real estate research report that is published quarterly by Town Residential Real Estate noted this trend towards new development buildings, and the growing trend around New York real estate in general. Town Residential Real Estate puts together this research report with data combed from various government sources and is a critical piece of reading for those looking to understand the NYC real estate market.
Finding these NYC properties in high rise buildings that are amenity filled and in prized locations can be challenging, even for successful tech entrepreneurs. Having a high quality real estate broker like Town Residential can greatly ease the process given their experience in servicing the luxury real estate market in NYC. Town Residential was founded in NYC and has a specialization in luxury homes. Their professionals can help buyers to both understand the market and to fight for the best amenities for their buyer’s needs for luxury NYC properties.