New York City is one of the most amazing cities in the world. That being said, Development is ever so changing. New construction on west side, more luxury high rise buildings are being built and crime overall has been decreasing. "Nicest areas" is a subjective matter depending on a persons definition of nice. I would love to help you in your search or help educate you on the city and certain areas of growth since you have last been here in 1996. You can reach me for casual conversation or buying help at Owhite@ardorny.com... more
This was just addressed in the New York Times. "For the first time since such data have been tracked, the average price for luxury condominiums downtown superseded the uptown average. The trend persisted into this year, with condos priced above $2,000 a square foot averaging nearly $5.9 million downtown in the first quarter , compared with $5.6 million uptown"... more
While I do agree with the both of the answers below, I believe the agents forgot to mention that there are two new construction buildings, (101 Warren and 200 Chambers) that are on the southern part of Tribeca. 101 Warren is on top of a Whole Foods which does raise its value. The main reason you would want to purchase at the bottom part of Tribeca is because of the new Fulton street station that will be ready in 2014. By 2014 the new Freedom Towers and the Fulton street station will be up bringing the value of the property up by then dramatically. Knowing future information like this is crucial as I myself am a developer as well as a broker so a high capitalization rate is always a concern of mine!
Please let me know if you have any more questions!