Country Guides Country Guide: New York

Date Published:

24/06/2008

Most ex-pats live in either Manhattan, where the international banks and business are to be found, or in Brooklyn – famous for its ‘brownstone’ houses – across the eponymous bridge that spans the East River.

Unless you’re seriously wealthy (we’re talking multi-millionaire), you’ll be looking to buy an apartment in Manhattan (houses, if you can find one for sale, will cost $5m-plus in just about any district). Traditionally, exclusive areas such as the Upper East Side have always attracted high-end buyers. In the current market, however, downtown areas such as Chelsea, SoHo, NoHo, Tribeca and the Lower East Side are said to provide excellent investment opportunities.

Chesterton Humbers’ Hawkins said: 'Tribeca Townhomes in SoHo are a particularly good investment at the moment, being situated in a fantastic location. While the prices aren’t cheap, these apartments are extremely well designed and executed, and have a number of eco-friendly elements that reduce the building’s environmental impact. For example, solar panels on the roof provide supplemental hot water to each apartment, reducing energy use and lowering costs. The entire development employs a zero-waste programme with energy-star rated appliances in every apartment. A scheme is in place for the recycling of non-biological waste, including tins, bottles and paper.'

Paying homage to Lower Manhattan’s industrial past, Tribeca Townhomes six one-, two- and three-bedroom properties have been constructed using traditional design elements such as limestone and architectural iron design. Sustainable transport within the city is encouraged and a bicycle storage unit is provided. The development is within half a block of 10 subway lines, providing many options for travel within the city. Properties for sale include five duplex apartments. Freehold prices range from US$3,350,000 to US$7,450,000.00.