WEST SIDE- Hudson Yards- Place to Buy?? (New York, York: real estate market, apartment)
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I work for an electrical contractor who is doing work on this project. There is a lot more to be built here and complete within the next 10 years. It really is going to be nice. I was wondering if this area around the west 30's is the place to buy now. THanks
Depends on what your are buying and why. Do you want a commercial building that will produce income? Or a residence in a condo, co-op, or mixed use building?
Either way, if I were buying there I'd look for something closest to where the new subway stop will be at 11th and 34th St. in two years. There are already a handful of apartment house on 34th west of 9th, and despite its seediness I know that some of the buildings between 8th and 9th between 34th and 42nd are loft residences where people are already living. I'd also look up and down 10th Ave and the side streets just off it, which are a mix of commercial and old residential. But from what I hear, the neighborhood is already getting expensive as you are not the only one realizing that a few years down the road the area will be much nicer -- though I'd guess it will still take some time for much of the commercial activity to move out.
I would think you already missed the boat if you wanted to get in early on the far west side. Prices have already exploded and will probably still go up but how much and in how long is anyone's guess
As long as you are comfortable being a pioneer, doing without banks, Starbucks, Duane Reade and good restaurants on your block for a few years, you could have a great return on your investment. Think of people who lived in the East Vllage and Williamsburg 10 years ago, TriBeCa and Soho 25 years ago....
Last edited by bmwguydc; 09-07-2013 at 09:07 PM..
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The real estate market in NYC is back. The interest rates are going back up.
Are you looking to buy for cash or with a mortgage?
Is this for an investment or to live in personally?
Do you own now?
We need to discuss these and other question so we can see what is best for you.
Accept my befriend request and we can talk.
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NYC Real Estate Market is Back
