Luxury Condos in New York City: An Ultimate Guide

The Big Apple. The city that never sleeps. No matter what you call it, 8.4 million people call New York City their home, and you are ready to make the move for yourself.

Moving to New York can be a dream come true, and it can also be a great investment when done right. When there are so many luxury condos on the market, how do you even begin your search?

Keep reading for a guide on what to look for in your NYC condo search.

PreWar Versus Luxury Apartment Building

When you think of luxury condos in NYC, you probably have two images pop into your head.

The first image is of a tall, brick, pre-war building with an awning that extends out into the sidewalk. The building seems classic, and it blends with the older storefronts and townhouses.

The second image is of a luxury apartment skyscraper with floor-to-ceiling windows. This building is fresh and modern. When you look at the skyline of NYC, you see this highrise among the skyscrapers.

Before you start your luxury condo search, picture yourself in both a pre-war building and a modern building. Do you like the charm of the classic pre-war building? Or do you prefer the amenities of the newer building?

Whatever vibe you want for your condo will help determine the location of your search and your ideal budget.

Location

New York City is MUCH more than Times Square. Just in Manhattan, there are so many neighborhoods to choose from. The best neighborhood for you depends on your personality and your priorities. Let’s take a look at popular luxury apartment locations.

Central Park West

Everyone dreams of living on Central Park West.

The area is near attractions like Lincoln Center, The Museum of Modern Art, and shopping on 5th Avenue. Plus, the area is within walking distance of the business hub in Midtown Manhattan.

Upper West Side

Upper West Side is classic. A lot of famous TV shows and movies, like Seinfeld and When Harry Met Sally, take place on the residential streets of West Manhattan. The area boasts many great brunch spots and lush green parks.

Most of the luxury buildings on the UWS will be pre-war, adding to the charm of the area.

Upper East Side

Ah, the Upper East Side. Home of Gossip Girl and the extravagant Met Gala. Soon enough, it could be your home too. The Upper East Side is great for those who love a residential and quiet neighborhood.

SoHo

Let’s take a look downtown at Soho. SoHo is the area below Houston Street in Manhattan.

Soho has a bit of everything. For shopaholics, this is your paradise. Plus, you are within walking distance of Little Italy and Chinatown. Talk about a foodie dream!

Financial District

The Financial District is located at the very bottom of Manhattan. If you want to be surrounded by skyscrapers and in the middle of the hustle and bustle of NYC, the Financial District might be your dream neighborhood.

Condo Layouts

Like any apartment hunt, you should be familiar with what you want when it comes to apartment layout. Some questions to ask yourself are:

How many bedrooms do you want?
How many bathrooms do you need? Do you like stand-up showers or bathtubs?
Do you like the idea of an open concept kitchen/living space? Or do you want the two to be separated?

These questions should at least get the ball rolling so you know what you want so you can narrow down the number of tours you go on.

Amenities

When you pay for the luxury price tag, you are going to get luxury amenities. Of course, the amenities vary by location and building. Here are some common amenities to look for so you can make a list of your priorities.

Nearby Transportation and Parking

Before you move to New York, you need to figure out how you are going to get around town. If you plan on just taking cabs everywhere, this doesn’t have to be high on your priority list.

If you plan to take public transportation, make sure your condo building is located near a Subway station.

If you plan on bringing out your car, you should see if the building has its own parking garage. Double-check and see if parking is included with the cost is the apartment or if it’s a monthly fee. If you are set on a building that doesn’t have parking, see if there is a nearby parking garage.

Onsite Gym

Love working out? Then look for a building with an onsite gym.

When you don’t have to travel to a separate gym, you might even feel more motivated to work out. However, not all onsite gyms are created the same. When you go to tour the building, make sure to check out the gym to see the size of the room and the equipment available.

Indoor Pool

Living in a building with its own indoor pool is a huge flex. While it might not be a necessity, you’ll definitely enjoy being able to dive into a pool during the dog days of summer.

Doorman

Not all New York luxury condos come with a doorman. So if you want that extra layer of security at the front door and someone to be there to sign for packages when you are away, look for a building with a doorman.

Price Points and Investing

If you are looking to buy a luxury condo in NYC, you can expect to spend anywhere between $6 million to upwards of $50 million. The price point comes down to location, size, and amenities offered.

However, what you put into the apartment is an investment. And when done correctly, it could increase your wealth even more.