- Which Type of Manhattan Apartment Is Right for Me?
- Walk-up Apartments
- Loft Apartments
- Luxury Apartment Buildings
Well, that depends on you. Like New Yorkers themselves, Manhattan apartments come in a wide array of sizes and styles. Because this is Manhattan, there is an apartment for sale out there that’s right for you. But whether it’s in a new construction condominium or a condo conversion -- or a co-op, or a brownstone townhouse, or so on -- depends on you, finally. Manhattan real estate has its own lingo, and it can be tough to translate sometimes. But the most important thing is this: the Manhattan condominium that’s meant to be your Manhattan condominium is out there, somewhere in Manhattan (and our Manhattan condo listings). Here are the terms you’ll need to know as you search for that apartment.
Brownstone townhouses are a Manhattan mainstay, although you won’t find them listed on New Construction Manhattan. The simple reason for that: Manhattan brownstones are less “new construction condominium” than “19th century townhouse.” They’re lovely, though, with a distinctive old-school look inside and out, high ceilings and (in many cases) back yards. There are a wealth of brownstone-lined side streets on the Upper East Side and Upper West Side, and plenty to be found in Greenwich Village as well. Most of the brownstones in midtown Manhattan are currently home to small business and -- in the area of Turtle Bay around the United Nations -- many are home to smaller nations’ embassies. (The agents affiliated with New Construction Manhattan can help you find a Manhattan brownstone, by the way)
Condominiums provide people with the comfort and satisfaction of property ownership – they enjoy having a financial interest in their home, rather than simply paying rent. Condo ownership provides buyers the ability to purchase in an area that would otherwise prove expensive. It also provides options: The design of your apartment is completely up to the owner, as is subletting to offset some of the cost of the property. The purchasing process of a condo is also simpler than the background check required by most co-op boards, and ownership is a reliable long-term financial investment. However, the square foot cost is more expensive in a condominium than co-op properties, and owners must pay a property tax and higher maintenance fees.
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Co-op properties are by far the most common form of apartment purchase in New York City – up to eighty-five percent of buyers prefer this option. Residents in a co-op building are essentially purchasing shares of a building from a real estate corporation – the more square feet, the more co-op shares – rather than owning the deed to the apartment outright. To be accepted by the building’s co-op board, there is typically a rigorous background check of potential buyers, and subletting the property is frequently not allowed. Monthly maintenance fees cover expenses like heat, insurance, water, staff and taxes; however, these fees are usually lower when compared to condo ownership, and considered tax-deductible. There are more locations available to suit the tastes of potential co-op buyers, and co-ops are known for their tight-knit communities.
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Another lovely Manhattan living option that you won’t find listed on New Construction Manhattan. Most Manhattan neighborhoods feature at least a few townhouse-lined sidestreets, and they are indeed nice places to live, if generally more expensive to buy and maintain than condominiums. Many townhouses offer such old-Manhattan touches as crown moldings and working fireplaces, and provide a level of privacy that’s generally scarce in Manhattan -- and they also offer no co-op style hoops to jump through in terms of ownership. But while Manhattan townhouses possess a charm all their own, they are -- at least in Manhattan -- a very scarce commodity; there aren’t a lot of new townhouses being built, at least relative to the number of new construction condos and condominium conversions on the market.
Just what they sound like, walk-ups are distinguished by the fact that residents have to, yes, walk up to their places. Walk-ups are a staple in neighborhoods such as Gramercy Park, the Lower East Side and the East Village, where what was once nearly tenement-style housing has been transformed into desirable addresses by the changing neighborhoods around them. There are some lovely, lovingly restored walk-up condominium listings in Manhattan, but for the most part, these are rentals.
As with walk-ups, lofts were originally almost marginal housing -- popular with artists, dancers, musicians and other downtown-types who saw apartment/studio possibilities in what generally started as raw industrial space. But much as loft-heavy neighborhoods such as Soho, Tribeca, and Chelsea have come up in the world since the 1970s, lofts have gone from ad hoc housing for artists to status symbols in apartment form. It’s easy to see why, though: from the open floors, oversized windows and high ceilings to their spacious dimensions, Manhattan lofts offer some unique interior design opportunities. It may seem strange that some of the most desirable -- and expensive -- apartment listings in Manhattan began their lives as warehouse space, but that’s NYC real estate for you.
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The luxury apartment buildings of Manhattan are as much a symbol of the city’s storied skyline as NYC’s landmarked skyscrapers, and are just about as diverse as New Yorkers themselves. Some of these apartment towers are home to rental apartments. Many older apartment buildings on the Upper West Side and Upper East Side are home to co-op apartments; an increasing number of these elegant old buildings have switched over to condominiums in recent years, resulting in the strange-but-true formulation “new pre-war condo listings” and creating some very in-demand new NYC condominiums that balance spacious pre-war floor plans and gracious aesthetics with contemporary condo comforts. And, of course, a great many post-war buildings and new construction condominium buildings have been condo all along, and are home to spacious, gracious NYC condos for sale of a decidedly more moder nfeel. What these luxury apartment buildings have in common, besides those Manhattan apartments for sale behind their facades, are an emphasis on amenities -- many new construction condominiums offer resident services more commonly associated with luxury hotels, and some “new” pre-war condos have added off-site amenities in an attempt to compete with new construction condos. You can expect a lot of luxury from a luxury apartment building in Manhattan -- the ultra-competitive NYC real estate market provides plenty of incentive for buildings to stay up-to-date. And, of course, you can find NYC condos of all shapes, sizes, vintages and price here at New Construction Manhattan.