Archive: Mar 2020

Top Reasons to Consider Living in Downtown NYC

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Transportation, history and cafes are just the tip of the iceberg.

Are you thinking of moving to Downtown NYC? The views are breathtaking, the area is calm during the evening, and is in proximity to almost everything you could ask for, what’s not to like? Downtown has a lot to offer for anyone looking to move there. However, there are four reasons in particular for why you should consider investing in this area of NYC.

This neighborhood offers ultimate convenience to residents

  • Compared to some other neighborhoods in New York, downtown has a vast variety of transportation modes. The Oculus is a major subway hub (E, R, A/C, 2/3, 4/5, J/Z) that can get you to almost anywhere in Manhattan, throughout the other boroughs and even has the PATH station to enter New Jersey. Downtown also offers ferry rides to a variety of locations (a full route list can be found here). Also, the bus is another easy (and comfy) mode of transportation to and from this area.
  • Downtown NYC also has nearby medical facilities that can provide reassurance to those who live in the area. There are many facilities in the area, but the closest hospital is New York Presbyterian on William Street. 
  • Transportation and local medical facilities are of course priorities for considering a new home location. However, one of the other major conveniences is having plentiful cafes. Downtown tends to slow down on the weekends, which can also make the cafe environment a relaxing place to connect with friends and work on projects. 

A great place to explore

With so many activities happening as well as a robust history, downtown NYC is a great place to adventure. 

  • There are plenty of shopping facilities within this area. In addition to being a transportation hub, Oculus has 365,000 square feet of stores and eateries. Within the Seaport District (adjacent to the Financial District), also being within walking distance, you can find many common-name stores. 
  • This specific neighborhood has a lot of history (even going far back to the revolutionary war). Some of the biggest attractions that are worth visiting or taking friends and family include:
    • Fraunces Tavern on Pearl Street 
    • Wall Street 
    • Schermerhorn Row
    • One World Trade Center

Top Restaurants

You won’t have to travel too far to get a top notch bite to eat. Within the downtown area, some of the top rated restaurants within NYC can be found here. A couple of our favorites include: 

  • Nobu 
  • L’Appart 
  • Temple Court

Continued market growth 

  • Recently provided data by Urban Digs indicates healthy buying signals for early 2020. Contract activity is up 20% YoY (last February compared to this year) and sales volume is also trending positive when compared to the prior year (Dec 2018 compared to Dec 2019).
  • Our NYC team heavily deals with transactions at Southbridge Towers (located between the Civic Center and Financial District of Lower Manhattan) and one of the biggest benefits that our clients have noted within this complex are the opportunities to renovate. With luxury property sales trending, renovations paired with a healthy sales market can create additional value to a home. 

Having completed 58 transactions in Southbridge Towers and many others within this neighborhood, our team can provide additional details to the strong benefits of living in this area. If you are interested in learning more about buying downtown, contact us today.