By Haylee Pollack
Whether you’re moving to NYC for the first time or you’re a veteran New York City resident, deciding on a neighborhood to buy a home in can be a daunting task.
From the Financial District to Harlem, and everywhere between, New York City’s many neighborhoods each have their own unique characteristics and benefits.
If you’re looking to save some money during your next move, you’re in luck! Read on for the top 3 neighborhoods to get a bang for your buck as a buyer in NYC right now!
Did you know that TriBeCa is experiencing some of the biggest price drops in the city? A trend that started in 2018 and continued through Q1, apartments in this Manhattan neighborhood had an average price drop of about 4%.
Although this may not seem like much, the offer that the average seller ultimately accepted was almost 14% below the original ask. For instance, that would bring a $3,000,000 home much closer to $2,500,000, saving the buyer a decent chunk of change!
What you would love about moving to TriBeCa:
- It’s one of the trendiest parts of town
- Access to the beautiful West-Side water views
- The area is quiet and not too touristy
With “days on market” for two bedroom apartments well above 60 days and the average price per square foot continuing to decrease, Greenwich Village proves to be an opportunity for someone looking to save some coin.
The longer an apartment is on the market, the more likely the seller will accept an offer below the asking price, so be sure to keep an eye out for some properties that have been sitting for a bit too long in order to get a good deal.
What you would love about moving to The Village:
- Great restaurants
- Charming streets
- Good schools in the area
Chelsea is on this list not because it has seen the same price reductions that TriBeCa and The Village have, but because there is a large selection of fixer-uppers that you can purchase and make your own (so be sure to bring your contractor).
Need some decor inspiration for your new abode? Find out which furniture style suits you as a Chelsea resident!
What you would love about moving to Chelsea:
- Great shopping
- Many stunning art galleries
- Convenient transportation to other parts of the city