Housing in New York and its surrounding areas: the choice of real estate for a Russian immigrant
"This is probably the only city that looks better in person than on postcards," Czech director Milos Forman wrote about New York. Every year 10-12 million foreign tourists come here, and more than 150 thousand people from abroad take up permanent residence here.
In this article, we will tell you which places in and around New York City are the best places to live and buyreal estate.
Manhattan: Exploring Neighborhoods, including the Financial District, Tribeca, SoHo, and others.
New York City, known for its diversity and cultural richness, is divided into five boros - Manhattan, Brooklyn, Queens, Bronx and Staten Island. Manhattan, the center of the city, attracts the attention of many, it is the one seen on postcards and in movies. Here you can find the Empire State Building, the Wall Street financial district, elegant Fifth Avenue, the green oasis of Central Park, cultural institutions such as the Metropolitan Opera and Museum Mile, and the famous Statue of Liberty.
The Russian-speaking population of Brighton Beach numbers 70-80 thousand, and traces of Russian culture can be seen in the names of restaurants and even in Orthodox churches. Manhattan also has a Russian-speaking population, making up about 5% of the residents. Russian-speaking entrepreneurs have created many cozy places such as "Russian Tea Room," "Russian Samovar," and "Russian Vodka Room." The restaurant "Mari Vanna" is set up in the style of a communal apartment to create a homeland atmosphere.
Our compatriots have also invested in real estate in prestigious Manhattan neighborhoods such as Park Avenue, Central Park West, Central Park South, and Fifth Avenue. For example, billionaire Dmitry Rybolovlev bought an $88 million penthouse on Central Park West.
Manhattan is easy to navigate due to its rectangular plan. The streets here are numbered, and much of the island, especially in the south, is considered upscale. But there's always a place for everyone in this diverse city, even in neighborhoods like Hell's Kitchen, Midtown West, Stuyvesant Town and Chinatown.
Manhattan's best neighborhoods include:
Financial District
Tribeca.
SoHo.
Chelsea
Upper East Side.
Greenwich Village.
East Village.
Financial DistrictManhattan, located on the southern tip of this island, is the heart of financial activity in New York City and throughout the United States. This neighborhood is rich in historic buildings and symbols that reflect the country's rich economic history. Landmarks such as the New York Stock Exchange, the Federal Reserve Bank of New York, and the site where the World Trade Center towers stood can be found here.
In the past, the Financial District's infrastructure was primarily focused on business needs, but the neighborhood has undergone significant changes over the past 15 years. Many office skyscrapers have been renovated and converted into residential buildings, which has contributed to an increase in the number of residents in the neighborhood. People living and working in the Financial District can now enjoy more diverse services such as restaurants, shopping, and cultural activities.
Manhattan, as a whole, offers many opportunities for Russian-speaking immigrants. Choosing where to live in this diverse and culturally rich city depends on your preferences and budget. But however you choose, New York promises incredible experiences and countless opportunities to thrive.
Tribeca.located north of the Financial District, is one of the most expensive real estate markets in New York City. Its name comes from the abbreviation “Triangle Below Canal” or “Triangle South of Canal Street”. According to Zillow, the median sales price here exceeds $3 million, and home prices rose 7% in 2016.
Tribeca has attracted many famous personalities including Mariah Carey, Robert De Niro and Kate Winslet. The neighborhood has been transformed from former warehouses and manufacturing facilities from the 1970s to modern offices and luxury apartments. Many who work in the Financial District choose Tribeca to live in because of its proximity to work. Tribeca is also known for its variety of restaurants and cafes, making it attractive to entertainment connoisseurs.
To the north of Tribeca is a neighborhoodSoHo.which means “South of Houston” or “South of Houston Street.” SoHo is a bohemian neighborhood with cobblestone sidewalk, cozy cafes and boutiques. It formerly served as a center for the textile industry until the 1960s. Over time, production costs began to rise and the textile mills began to close and their premises were vacated.
SoHo is known for the many buildings here that have been converted into stylish loft-style residential apartments. These apartments were originally inhabited by creatives and artists due to their spacious and bright spaces, and many of them are located in historic buildings with exterior fire escape staircases. Gradually, loft prices began to rise and the neighborhood became popular with wealthy investors, cementing its status as luxury housing. This transformation of SoHo has been dubbed the “SoHo effect.”
Both neighborhoods offer a unique living experience and are attractive places to buyreal estate in New York City depending on your preferences and lifestyle.
Greenwich Village(West Village), also known as “The Village” or “The Village,” is a unique neighborhood in Manhattan. It differs from other neighborhoods on the island with its grid of curves and narrow streets that intersect at sharp angles. Here, the streets have real names, not just numbers, which makes this neighborhood even more attractive. Greenwich Village offers extensive infrastructure, including the main campus of New York University, theaters, jazz clubs, and comedy clubs. This neighborhood is also famous for being the home of characters from the TV series Friends at 90 Bedford Street.
East Village(East Village) is located east of Greenwich Village and attracts creative people and celebrities. Famous residents of the neighborhood include British actor Daniel Craig.
Chelsea,located north of Greenwich Village, occupies a large area of western Manhattan between Sixth Avenue and 14th and 34th Streets. The neighborhood is known for its variety of architectural styles, from elegant 19th century townhouses to industrial lofts. Chelsea also serves as a venue for many cultural events and is known for its art galleries and diverse restaurants.
Upper East Sideis located north of Greenwich Village and bordered by Central Park to the west and the East River to the east. The neighborhood is characterized by elegant late 19th century townhouses and luxury high-rise co-ops. The Upper East Side is home to many museums, including the Metropolitan Museum of Art and the Solomon R. Guggenheim Museum, as well as prestigious educational institutions and luxurious restaurants. Home prices in the neighborhood are on the rise, and new condominiums are being actively built here.
Overall, Manhattan offers a variety of options for buying real estate, and the choice depends on your preferences and budget. Regardless of the neighborhood, each has its own unique character and provides a wide range of cultural and entertainment options.
Brooklyn neighborhoods: Brooklyn Heights, Dumbo, Williamsberg and Park Slope.
If you are considering your options for buying a home outside of Manhattan, Brooklyn is a great place to do so. This neighborhood is located on the west side of Long Island, surrounded by the Atlantic Ocean.
Russians in Brooklyn
Brooklyn is home to more than 5% of the Russian-speaking population. Mass immigration of the Russian-speaking population to the neighborhood began in the 1990s, although the flow of immigrants from the CIS has declined since the early 2000s.
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Russian enclaves in Brooklyn
There are several Russian enclaves in Brooklyn, including Bath Beach, Bensonhurst, Brighton Beach, Gravesend, and Sheepshead Bay. Among them, Brighton Beach is known as “Little Odessa”, where Russian remains the native language for 98% of residents. Here you will find restaurants with Russian cuisine, bookstores and supermarkets with “Russian” products, as well as banks and medical facilities with Russian-speaking staff. Prices for housing in Brighton Beach are varied, but there are also prestigious new buildings, such as Oceana, where you can find apartments overlooking the ocean, costing from 500 thousand dollars.
Brooklyn's best neighborhoods
Northwest Brooklyn offers some of the best neighborhoods to live in:
Brooklyn Heights is a residential neighborhood of beautiful Victorian homes and former aristocratic estates. The neighborhood is just a 10-minute subway ride from Wall Street and half an hour from Times Square.
DUMBO is a modern and stylish neighborhood known for its art galleries and views of Manhattan. Creative living spaces and trendy restaurants can be found here.
Williamsburg is a youthful and picturesque neighborhood that attracts artists and young professionals. There are many cafes, boutiques and cultural events.
Park Slope is a green and family-oriented neighborhood with beautiful parks and stores. It is a great place for families with children.
Brooklyn offers a variety of living and real estate investment opportunities depending on your preferences and budget.
Information on home prices in some of Brooklyn's best neighborhoods:
Dumbo (DUMBO): Median price is $1,459,400, year-to-date trend is 8.8%, year-to-date price forecast is 4.4%.
Park Slope: Median price - $1,052,500, annual growth - 7.1%, annual price forecast - 4.6%.
Brooklyn Heights: Median price is $971,800, year-to-date trend is 9.8%, year-to-date price forecast is 4.6%.
Williamsburg: Median price is $967,400, year-to-date trend is 5.4%, year-to-date price forecast is 5.1%.
Brooklyn: Median price is $689,200, year-to-date trend is 9.0%, year-to-date price forecast is 5.4%.
These numbers can change over time and depend on specific neighborhoods and property types within neighborhoods.
The boroughs of Queens, Staten Island and the Bronx.
Bronx, Queens and Staten Island are not so interesting for buying real estate, although prices there are lower than in Manhattan and Brooklyn: housing costs on average about $ 400-500 thousand dollars.
Queens:
Median price: $482,000.
Annual dynamics: 11.7%
Price forecast for the year: 4.9%
Staten Island:
Median price: $445,100.
Annual dynamics: 5.2%
Price forecast for the year: 5.2%
The Bronx:
Median price: $350,000.
Annual trend: N/A
Price forecast for the year: N/A
Queens:
Queens used to be a less popular neighborhood, but over the past decade it has seen significant residential and commercial development. Of particular note is the Long Island City neighborhood, which is located on the western end of New York City and has become known for its rapid gentrification. This neighborhood is also known for its large number of art galleries, making it attractive to young bachelors and families looking to live close to Manhattan with excellent transportation infrastructure. Queens is also home to neighborhoods such as Astoria, Rego Park, and Forest Hills, which appeal for their atmosphere and affordability. In addition, the neighborhoods of Woodside, Glendale, Middle Village, and Ridgewood are known for their high quality education. The only disadvantaged neighborhood in Queens is Jamaica, which is often used as a transit point due to the presence of John F. Kennedy International Airport.
Staten Island:
Staten Island is New York City's most remote and least populated borough. It is connected to Manhattan by the free Staten Island Ferry, which runs about every half hour. The Staten Island neighborhood has good schools, extensive sports facilities and many parks. This neighborhood is known as the “Greenbelt” of New York City due to the large amount of greenery. It is home to the largest park area in the city, the Greenbelt. Staten Island also offers a variety of real estate markets, including Richmond Terrace, Snug Harbor, and Emerson Hill. The Tottenville neighborhood, also known as the “town of oblivion,” has the quiet and conservative atmosphere of the American heartland.
The Bronx:
The Bronx has traditionally had a less than favorable reputation due to the presence of high crime areas such as Mott Haven, Fordham and Hunts Point. However, the Bronx is becoming increasingly attractive to those buying real estate for their own residence, rental or investment. In 2014, developers invested heavily in projects in the Bronx, leading to a gradual revitalization of neighborhoods that were previously considered declining. The Bronx is also becoming popular due to its proximity to Manhattan, as well as the development of new infrastructure such as an ice complex and an outdoor food market.
New Jersey: Hudson and Bergen.
Many people who are work-related or frequent New York City choose not to live in the city itself, but to settle in neighboring New Jersey. This state attracts with its proximity to Manhattan, more affordable real estate prices and lower taxes.
The two closest counties to Manhattan in the state of New Jersey are Bergen County and Hudson County. They are both located on the opposite bank of the Hudson River.
The Port Authority Trans-Hudson (PATH) subway lines are the main means of transportation between Manhattan and Jersey City and Hoboken. It takes only 35 minutes to get to the Financial District, but it is worth noting that the stations can be congested during peak hours due to active construction.
Some of the most attractive real estate markets in New Jersey include Alpine, Saddle River, Short Hills, Long Beach and Franklin Lakes.
Information on housing prices
Saddle River:
Median price: $1,729,400.
Annual dynamics: 4.4%
Price forecast for the year: 2.9%
Franklin Lakes:
Median price: $1,118,900.
Annual dynamics: 14.3%
Price forecast for the year: 5.1%
Tenafly:
Median price: $783,100.
Annual dynamics: 4.6%
Price forecast for the year: 3.5%
Hoboken:
Median price: $726,300.
Annual dynamics: 12.4%
Price forecast for the year: 5.7%
Colts Neck:
Median price: $700,500.
Annual dynamics: 3.3%
Price forecast for the year: 3.0%
Cresskill:
Median price: $558,100.
Annual dynamics: 0.9%
Price forecast for the year: 2.6%
Long Beach:
Median price: $518,100.
Annual dynamics: 10.9%
Price forecast for the year: 5.2%
Fort Lee:
Median price: $523,500.
Annual dynamics: 3.9%
Price forecast for the year: 3.3%
Englewood (Englewood):
Median price: $359,200.
Annual dynamics: 3.5%
Price forecast for the year: 3.3%
Hudson County:
Jersey City: The largest city in Hudson County, offers a variety of apartment complexes and upscale amenities. It has convenient transportation links to Manhattan.
West New York: One of the Gold Coast cities with modern apartment complexes and river promenades.
Weehawken: Located on the waterfront and offers comfortable accommodations with magnificent views of Manhattan.
North Bergen: Another city with a high level of comfort and modern residential complexes.
Hoboken: Known for its historic neighborhoods and modern apartment complexes.
Bergen County:
Fort Lee: A city with great apartment complexes and access to good schools.
Edgewater: Offers luxury apartment complexes on the waterfront.
Cliffside Park: Has great apartment complexes and convenient transportation to New York City.
Englewood: Popular with families with children due to good schools and private cottage development.
Tenafly: A city with a high level of education and good schools.
Cresskill: Another town with nice private development and good educational facilities.
Closter: Popular with nature lovers and private estates.
Demarest: Also known for its good schools and cozy neighborhoods.
Both counties offer a variety of housing options and comfort levels, making them attractive to a diverse population.
Southern New Jersey and the Hamptons areas: resort vacation properties
Southern New Jersey and the Hamptons townships are attracting attention as vacation and second home ownership destinations. These areas, located in the eastern part of the United States, are not always ideal for permanent residence, but they are extremely popular for vacation homes or villas due to their diverse beaches and oceanfront recreation.
This part of New Jersey offers beaches for all tastes:
Beaches for family vacations:Places like Bay Head, Point Pleasant Beach and Stone Harbor provide great opportunities for family vacations on sandy shores.
Status beaches in expensive cities:Cities such as Belmar, Mantoloking and Spring Lake offer luxurious beaches and atmosphere for more affluent visitors.
Pet-friendly beaches:If you have pets, you'll find suitable beaches at Island Beach State Park and Stone Harbor.
Best beaches for surfing:Inlet Beach, Long Beach Island and Wale Beach attract surfing enthusiasts.
The most secluded beach:Strathmere is the perfect place for those seeking tranquility and privacy.
Nudist beach:Sandy Hook is a place for nudists.
Southern New Jersey also includes Monmouth County, which is famous for its ocean view villas, canals and bays. It is an ideal place for boating and fishing enthusiasts. The region is also home to the Jersey Shore, which serves as a vacation destination for many New Yorkers and Philadelphia residents. It is home to the Six Flags Great Adventure theme park, which features the tallest roller coaster, Kingda Ka.
Traveling south brings you to Ocean County, which is also popular in the summer. This area attracts visitors with attractions such as Six Flags Great Adventure. Atlantic City, known as the “New Jersey Las Vegas,” is in this region and is famous for its gambling establishments and entertainment.
Traveling east across New York State, you'll find yourself on Long Island, home to the upscale towns and villages that share the common name of the Hamptons: Southampton, Bridgehampton, East Hampton, Sagaponack, Sag Harbor, and Water Mill.
The Hamptons are attracted by their oceanfront location and sandy beaches, which are considered some of the best in the United States. The region is also famous for its golf courses, which are ranked among the top ten in the country, as well as country clubs for the wealthy. Residents of the Hamptons include highly skilled financiers and high-ranking officials. Real estate prices in this region are among the highest in the country.
Southern New Jersey:
Bay Head: The median price is around $500,000, trending up 7% over the last year.
Point Pleasant Beach: The median price is approximately $550,000, with a year-over-year price increase of 6%.
Stone Harbor: Median price is about $600,000, up 5%.
Hamptons:
Southampton: Median price is around $2 million, up 5% year over year.
Bridgehampton: The median price is about $1.8 million, with a year-over-year price increase of 4%.
East Hampton: The median price is about $1.4 million, up 5%.
Sag Harbor: Median price is about $1.6 million, up 6% year-over-year.
Water Mill: The median price is about $4.1 million, up 7%.
The Hamptons offer a variety of opportunities for real estate investors and buyers, from luxurious ocean view mansions to modern loft-style condominiums. The region also attracts famous personalities and celebrities who find their corner of tranquility and luxury here.
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