Manhattan Real Estate
New York’s Best Real Estate Resources:
The fabulous new Ritz-Carlton in Manhattan is part condo, and a rental called the Solaire, at 20 River Terrace, is touted as the first “environmentally sustainable” real estate residential high-rise in the U.S. Also, the landmark tower at 150 Nassau recently went condo. The ground-zero rebuild will eventually reshape everything.
Bargain hunting: Nearly all of Battery Park real estate is in zone one for the post-9/11 incentive program, where residents get $500 a month. Gateway Plaza, a rental building at 375 South End Avenue, is known for good deals. A sad fact: Properties close to (especially facing) ground zero are cheaper.
Prediction: The manhattan real estate incentives and modest recent price decreases mean excellent deals in the short run; the Trade Center redevelopment (opera house? Museum? Transit hub?) will only add value after that.
Check out the Real Estate Board of New York fo rmore information.