Is it better buying a residence in a new luxury building, or buying a residence in an older building, but the older residence was totally renovated?

Asked by Maria.formenton, New York, NY Sat Mar 22, 2014

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Julie Audain’s answer
Julie Audain, , New York, NY
Fri Mar 28, 2014
Hi Maria,

It all depends on your style of building and how the interior looks. If the residence was renovated, is it to your liking and is it lavishly renovated. The new building might cost more but does it have that WOW factor you are looking for. I am a mortgage broker and I can also help you with obtaining a loan for your purchase. Please feel free to call me at 646-567-1049 or by email, for any other questions.

Best Regards,
0 votes
Adam Ben-han…, Agent, New York, NY
Fri Mar 28, 2014
As everyone else has said, it all depends on your preferences. That being said, a newer development will definitely be more expensive than an older, renovated building. When thinking about what will sell, any reasonable, well thought out investment made in Manhattan will always have a nice and steady increase long-term. I would always recommend Manhattan as a place to invest in.

If you have any questions feel free to give me a call.


Adam Ben-Hanania
0 votes
I m looking to buy a property in manhattan as a long term investment, tha can be rented. Would you help me, please? paula
Flag Sun Apr 6, 2014
Alex Aberle, Agent, Philadelphia, PA
Tue Mar 25, 2014
Hi Maria,

You have touched upon a very controversial subject! I have worked with many people who will only live in one or the other. It is simply a matter of preference. A lot of people love the character of older/pre-war buildings. They typically have beautiful real-wood floors, high ceilings, gigantic windows, great closet space, and charm. However, newer buildings definitely have their own set of alluring features. They typically offer more amenities than the pre-war counter parts. Some newer buildings, such as the Atelier on 42nd Street, offer insane amenities such as a gym, screening room, roof deck, tennis courts, playgrounds, volleyball courts, driving range, and more! The list goes on and on. The newer buildings also typically (although not always) more environmentally conscious. For example, the Helena on 57th Street has its own wastewater treatment plant, as well as a "vacation switch" for the entire apartment that essentially helps your apartment hibernate while you're gone.

All in all, it comes down to what you're looking for. Whether you love the character and soul found in pre-war buildings, or the luxurious lobbies and amenities of some of the newer buildings, the perfect home is out there for you.

Please feel free to contact me directly if you have any other questions, or would like to discuss this one in more detail!


Alex Aberle
Licensed Real Estate Salesperson
Citi Habitats
114 Perry Street
New York, NY 10014

C. 917.691.9093
O. 212.400.2500
0 votes
, ,
Sat Mar 22, 2014
It's a matter of preference and or style. Many new construction buildings are designed to accommodate a lifestyle that includes many amenities that an older building cannot introduce because of space constraints. However an older building may have a certain charm and appeal that is no longer being built in new buildings or can no longer be replicated.
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