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6 Things That Can Ruin Any Apartment Deal

6 Things That Can Ruin Any Apartment Deal

Picture this: Your dream building has an available apartment that’s just hit the market, so you rush to that first open house with high hopes and your checkbook in hand. Once you arrive, you discover that the unit is in your price range. The maintenance is almost affordable. And the apartment has been gut renovated and includes a washer/dryer. What more could any potential New York City homebuyer want or need?

Believe it or not, no matter how much you love an apartment, if one of the following scenarios comes into play,  you’ll run from that listing and never look back. And rightfully so.

A bad smell.

If you step off the elevator and you’re hit with the smell of cat urine, dirty laundry, shawarma, or even smoke, you should accept the fact that any odd or evil odor is probably permanent. Don’t assume that the smell is temporary, and if you’re truly heartbroken, revisit the building several more times and let your nose decide.

A dark, filthy basement.

Basements are generally creepy, but add a bunch of trash, a few dark corners, and 100 years worth of filth, and you’ll feel like you’ve stepped onto the set of a horror flick. Stay away–– who knows what’s living in that underground space, or what’s died there. Besides, if you ask me, the condition of the basement is usually pretty telling, and often a window into how the remainder of the building is maintained.

 

A hidden assessment.

Almost as scary as a filthy basement, a hidden assessment can pull a significant amount of cash from your monthly budget, and last for years. Always ask your agent the question up front: “Are there any current assessments on the building?” You’ll want to know for how much, and how long any assessments will be in place before you make an offer.

A crazy neighbor.

The middle-aged lady with nine cats, the old man who screams at himself, the twenty-something couple who can’t stop christening every room of their apartment –– these are a few examples of neighbors that might drive you mad if you allow. Note: Allow might mean something as simple as living next door to one of these folks.

A barking dog.

A dog barking incessantly or at odd hours (think 3 a.m.) is a turn-off no matter where you choose to live, but in an apartment scenario, the noise is particularly bothersome. Forget about closing a window to mute the noise, or turning on loud music to block it out. You’ll end up making enemies with your other neighbors, which only complicate matters. And if you complain to your super or managing agent, sharing an elevator with Frank and Fido will feel awfully awkward.

 

 

A bad view.

Few affordable New York apartments come with a view of the skyline. But it’s one thing to stare across the street into other high-rise apartments and another to stare at an alley filled with garbage or vagrants. You could certainly cover your windows, but eventually, you’ll want to allow a hint of sunshine to stream into your space. And remember, most likely, that view is never going to change, or at least, probably not in your lifetime.

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Condo Luxury in Brooklyn

Luxury apartments are a dime a dozen in Manhattan, but condo fever is spreading quickly to Kings County. With more buildings popping up or being repurposed in Brooklyn, condo shoppers might consider crossing the river and adding these six buildings to their potential properties list.

338 Berry Street

This conversion of a former noodle factory features soaring 13-feet ceilings with prices ranging from $575,000 to more than $4 million. The 63-unit, eight-story building with interiors by Paris Forino boasts amazing skyline views, as well as a convenient and a stylish location in the heart of Williamsburg. The building’s name – Williamsberry – however, is debatable.

531 Vanderbilt Avenue

Located where Fort Greene, Clinton Hill and Prospect Heights converge, 531 Vanderbilt offers 18 apartments on seven floors. Buyers can select from one or two-bedroom layouts with prices starting in the $600,000 range and going higher than $1 million. Amenities include washer/dryer hookups, designer bathrooms, and bicycle storage. This apartment building brings its residents the very best of the Brooklyn lifestyle as it lies within the heart of the borough and close to three of its most coveted neighborhoods and Prospect Park.

538 Union

Located in North Williamsburg, you won’t miss the stately façade of this 13-story residential building. Made up of one and two-bedroom apartments and duplexes with private terraces, 538 union promises the urban lifestyle with modern conveniences. Oversize windows with panoramic Manhattan views, not to mention nearby McCarren Park and public transit options, make this address desirable. One bedroom units start in the $800,000 range while two-bedrooms are priced well over $1 million.

Waterbridge 47

On the border of DUMBO and Vinegar Hill, Waterbridge 47 offers amenities such as on-site parking, a wine cellar, children’s playroom, and fitness center. If outdoor space is high on your list, you’ll want to consider this building purely for its roof deck. Comprised of 25 one, two and three-bedroom units, prices start just under $1 million and go up to more than $2 million. With just one stop away from Manhattan on the F train, the commute to the city should be fairly painless. You’d better hurry, though, since units are selling fast.

156 Broadway

These reinvented lofts in South Williamsburg offer architectural details such as wide-plank pine floors, double-height windows, custom metal staircases, and designer kitchens. Each unit comes with a wash/dryer hookup, a private balcony, and central A/C as well. Converted from an old cabinet factory, living here exposes you all that Williamsburg has to offer. Units come with less square footage than some other buildings so prices stay under $1 million.

The Boerum, 265 State Street

In the heart of Brooklyn’s Boerum Hill neighborhood, you’ll find this new townhouse-inspired upscale development. Complete with the usual features such as a fitness center, storage, and indoor parking, The Boerum is the epitome of Brooklyn luxury living. The 15th floor amenity suite sets this building apart from others with its three terraces, lawn, media room, lounge, and library. High-end fixtures and finishes as well as a strict attention to detail add to 265 State Street’s appeal. Prices range from about $900,000 for a one-bedroom up to $4 million for a four-bedroom residence.

In the current market, units are moving quickly, so get your financial ducks in a row before you begin your search. If you happen to spot what you think could be your dream apartment, make an offer quickly and keep your fingers crossed.

 

 

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Foreign Real Estate Demand Could Dampen

Real estate demand has received a nice boost from foreign buyers over the last several years. We have covered the topic several times over the past year. Those seeking a refresher can Foreigners Capitalize on New York City Real Estate and Structural and Tax Considerations for Foreign Investors.

There are several factors driving the strong demand. Many international buyers sought New York City’s real estate since it was priced lower than other world cities such as Hong Kong, London, and Monaco and they believe attractive returns are still available.

The weak dollar in relation to their own currency was also a major factor. European and Asian buyers also had stronger economies than the United States, particularly when we were mired in the deep recession. However, these factors have reversed, indicating this source of may not be as strong a source of demand going forward. We must caution that we do not think it will meaningfully slow since the United States continues to offer a stable political and legal environment that foreign buyers will continue to find attractive.

 

 

Strong dollar

There are a variety of factors that are influencing the stronger dollar, particularly compared to the Euro. The United States economy is growing faster than our overseas counterparts. This has led to quantitative easing in the Euro Zone designed to hold down long-term interest rates. In the past six months, the Euro/US Dollar exchange rate has gone from $1.2794 to a recent low of $1.0481 last month

This will have an impact on our economy. European imports will be more competitively priced. However, this also means it puts a lid on inflation, and the Fed may raise rates at a more measured pace.

Nonetheless, our readership is more concerned with the more immediate impact on real estate. This will make real estate more expensive to those who reside on the continent. Combined with a weaker economic outlook overseas, this should put crimp on demand from overseas buyers.

Asian economies also slow

Economic growth in Asia, particularly China, has weakened. The country’s GDP is now advancing at less than an 8% rate, which is much slower than the over 10% growth from a few years ago.

This has been an important source of demand. According to the National Association of Realtors, Chinese buyers represent the largest or second largest group of buyers in 46 states.

Heading into the spring selling season, this could temper demand. There will be less wealth. This could cause potential Chinese buyers to hold off on investment properties, a major factor in boosting demand. Many also seek a second residence here, with New York a popular destination. Roughly half of Chinese real estate purchases were spent in New York, California, and Washington.

Conclusion

We do not think demand from foreigners will evaporate. It may merely be tempered. Moreover, wealthy buyers from China may be relatively immune to slower economic growth or decide that real estate in the United States, and New York City in particular, may still represent an attractive investment opportunity, particularly in light of their slowing economy.

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5 Reasons You Should Hire an Interior Designer When You Renovate

If you’re about to embark on a renovation journey, getting all your ducks in a row before construction begins is crucial. Perhaps you haven’t given too much thought to your project team (other than your general contractor and architect), but hiring other specialists such as an interior designer could be well worth your time and expense.

Take note: If you’re doing a simple cosmetic bathroom remodel, you can more than likely make your own selections and handle a project of that scale. However, larger scale projects such as a full apartment renovation, or a gut remodel on a kitchen might warrant an experienced design team. Consider these five reasons if you’re on the fence about hiring an interior designer.

Modern Living Room by New York Furniture & Accessories SUITE New York

 

A designer helps streamline your selection process.

When it comes to making selections such as paint colors, flooring, light fixtures, and appliances, you’ll have myriad options from which to choose. An interior designer can assist you with selecting the right models, styles, and materials to suit your lifestyle and budget.

 

Modern Bedroom by Brooklyn Architects & Building Designers Architecture Workshop PC

 

A designer could have access to resources you don’t.

A good interior designer will be in the know when it comes to the hottest new countertop material or a specific type of paint for high-traffic areas. Chances are, you won’t have the knowledge or the time to discover the latest resources. And when it comes to home furnishings, designers have access to more products and wholesale prices. Depending on your fee schedule, your designer might even pass her designer pricing on to you, or perhaps charge only a small markup.

You can avoid costly mistakes.

In a nutshell, you won’t have to worry about making a mistake that will cost you. A seasoned designer will advise you correctly from the get-go and continue until your renovation has been completed. From changing your apartment’s overall layout to opening a wall or installing the right lighting, an experienced interior designer should guide you in the right direction. Having a designer will cost above and beyond what you pay your contractor, but you’ll potentially avoid mistakes too, so in the end, you‘ll probably come out ahead.

 

Contemporary Home Office by New York Architects & Building Designers Ondine Karady Design

 

You’ll get an apartment you can be proud of.

If you’re looking for originality, hiring a designer is the way to go. Your home won’t resemble your neighbor’s or a friend’s, but rather, your space will represent your personality and taste. The best interior designers are skilled at meshing their style with yours for a finished product you’ll both love and be proud of.

You could increase the market value of your home.

It’s no secret that a top-notch renovation can increase your apartment’s value. By hiring an interior designer, you stand a better chance of listing your home at a higher asking price should you decide to sell. Designers are problem solvers and will work with you to make your home functional as well as aesthetically pleasing. Not only will you be happier living in your newly renovated space, but when the time comes to sell your abode, you’ll reap the financial benefits.

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5 Family-Friendly Brooklyn Neighborhoods

In case you didn’t know, Brooklyn is the most talked about borough nowadays. A destination for delicious eats and one-of-a-kind shops, Brooklyn exudes a charming small-town vibe that most New Yorkers long for.

Its streets have become the setting for television shows like Girls, Younger, and Boardwalk Empire, and real estate prices have passed those in some Manhattan neighborhoods. It’s no surprise that hipsters have a burning desire to call Brooklyn home, but, believe it or not, more parents are choosing the borough to raise their kids too

These five neighborhoods are logical choices based on things like crime, space, location, and amenities. Consider one of the following areas if you have children but aren’t yet ready to hike to the burbs, or if a little one is in your near future.

1. Ditmas Park

If your budget permits, Ditmas Park is known for its huge Victorian houses, but the area also offers apartment-housing options with lower price tags. Family-friendly businesses, 23 schools, and stroller-ready sidewalks are just a few reasons why moms and dads should consider this Brooklyn nabe.

2. Park Slope

Probably one of the most popular and pricey choices for families, Park Slope is like its own little town in the middle of Brooklyn. Live here, and Prospect Park is outside your door –– how perfect for tossing ball or biking with the kids on weekends. Park Slope has 19 schools, and 27 percent of the people who live in the enclave are family units. And if you’re not parents yet, you can hang out and look cool on your stoop until the big day arrives.

3. Brooklyn Heights

With one of the lowest crime rates in the city and a picturesque streetscape –– although upscale in feel and price –– Brooklyn Heights is a dream come true for families who prefer to remain in the city and escape suburban life. Choose from 30 schools and myriad subway lines into Manhattan. And, of course, spacious and beautiful Brooklyn Bridge Park is ideal for families who tend to gravitate to outdoor activities.

 

4. Carroll Gardens

One of the prettiest neighborhoods in all of Brooklyn, Carroll Gardens is characterized by gorgeous brownstones, Smith Street restaurants, and its own green space. Much of the housing stock lies in townhomes, however, so be prepared to fork over some cash for an entire house, or live in a floor-through, which will more than likely have a shotgun layout. About twenty percent of its residents are families, and the median price is well over 4,000 per month for rent.

 

 

5. Windsor Terrace.

Probably the sleeper on this list, Windsor Terrace doesn’t have the quantity of schools as other neighborhoods but it boasts District 15, one of the most competitive elementary schools in NYC. With a healthy selection of three and four-bedroom apartments at lower prices than Park Slope, a low crime rate, and its proximity to Prospect Park, it’s easy for one to see how parents would choose this area to raise a family. On the downside, the area encompasses only about a 20-block radius, so the hunt for available real estate can be a long one.

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Neighborhood Spotlight: Boerum Hill

If you long to live in a quaint row house, Boerum Hill might be the New York neighborhood of your dreams. A charming, walkable enclave, Boerum Hill feels more like a small town than part of a sprawling metropolis. Living in the neighborhood brings a quintessential Brooklyn lifestyle –– it’s a place in which you’ll know your neighbors, and the people who choose to live there wouldn’t have it any other way.

The Neighborhood

Boerum Hill remains characterized by classic row homes with some pre-war apartment buildings and new condos now part of the housing stock.

Previously part of “South Brooklyn,” Boerum Hill was named after the Boerum family farm, which occupied most of this section of town during the Dutch settlement. Hoyt and Nevins Streets respectively, are named after Charles Hoyt and Russell Nevins, two of the original developers of the neighborhood. Once a disintegrating hub for drugs, prostitutes, and boarding houses, the community has come a long way in the past several decades.

Adjacent to Downtown Brooklyn, Prospect Heights, Cobble Hill, and Gowanus, Boerum Hill is home to many resident-owned galleries, as well as boutiques and cafes. The nabe is small by New York City standards –– it houses approximately 20,000 people.

 

 

What to do

Boerum Hill might be small in size, but it does boast a few notable spots for food and drink. Discover delicious eats in Chef’s Table at Brooklyn, upscale Italian at Rucola, and for classic pub fare, try Hollow Nickel, which also has a killer backyard. Relax and imbibe at the Clover Club, often voted one of the best cocktail bars in the city. If casual is more your style, head to the 61 Club, a neighborhood favorite offering local beers and snacks in a former carriage house.

You’ll find indie retailers and shops along Atlantic Avenue and sprinkled throughout the neighborhood. Boerum Hill has claimed a section of Smith Street businesses as its own, as well.

Sports fans can see the Brooklyn Nets in action at the new Barclay’s Center, located at the intersection of several Brooklyn neighborhoods, including Boerum Hill. The venue books top-notch musical acts such as Paul McCartney, Stevie Wonder, Jay-Z, and piano man, Billy Joel.

The Atlantic Antic Festival takes place each year in early fall. The street jamboree offers live music on ten stages, pony rides, belly dancers, and vendors cooking up a variety of foods.

 

 

What it costs

Most people who decide to move to Boerum Hill have their heart set on a house. Brownstoners continue to snatch up any remaining inventory requiring TLC, and even then, they’re not cheap.The townhouses for which the neighborhood is known start at about $2.5 million, and at that price, will more than likely require a complete renovation.

In the condo market, expect to pay in the range of $800K for a one-bedroom, and in the $3 million range for a family apartment with multiple bedrooms and baths.

If you’re in the market for a rental, one-bedroom apartments start in the $2,500 range, and larger apartments could easily cost more than $4,000 per month.

Transportation

Boerum Hill residents stay spoiled with ten subway lines running through the neighborhood at Atlantic Avenue, and another six coming to Borough Hall/Court Street. The F and G trains also stop at Bergen Street. But all public transit aside, many in Boerum Hill live their lives in Brooklyn, especially on weekends when their feet do the walking.

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5 Tips to Get Along with Your Contractor

Choosing the person or company who will manage your renovation project is a tall order, especially in New York City where construction pros are a dime a dozen. After you’ve carefully selected the candidates, completed interviews, and reviewed their estimates, you’ll finally choose which contractor will oversee your project and be a part of your life for the next several months –– or years, depending on the scope.

During this process, think of the contractor and yourself as partners in the project. Staying on the same page is crucial, so your remodel can get finished on time and within the established budget. Along the way, try and keep these five tips in mind and hopefully you’ll see eye to eye and avoid potential bumps in the road.

 

1. Establish boundaries from the get-go.

Your contractor and his sub-contractors will probably be spending more time in your residence than you. It’s important to establish boundaries early on. Let him know what’s acceptable and what’s off limits. Perhaps you’re fine with workers taking lunch breaks in your apartment, but you’re not okay with smoke breaks. Be clear from the beginning about every last detail, so no stone goes unturned.

2. Communicate openly and on a regular basis.

You’ll want to stay in communication throughout the process and make sure your relationship remains in good standing until the final punch-out item is completed. Schedule weekly meetings to review items like the job schedule, delays, or issues with materials, delivery, etc. Treat your relationship with your contractor like you do your marriage. The more you talk to the person and keep the lines of communication open, the less likely you’ll experience friction and disagreements.

3. Pay on time.

If your contractor delivers the goods, expect to pay on time. Decide on the payment schedule at the start of the job and stick to it. Not only does he need to eat, but his subs will as well. Don’t withhold money unless the contractor isn’t holding up his end of the deal. And then, it’s best to nip any issues in the bud and confront him immediately. This apartment or townhouse is your home, but this job is his livelihood.

 

 

4. Let him do the job.

Don’t micromanage your contractor. You hired him for his expertise and probably also because you trusted him over any of the others you interviewed. Let him work, and follow his lead. Don’t be afraid to ask questions, but create a list to review during your weekly meetings rather than bombarding him on a daily basis.

5. Be sure every detail is in writing.

Besides your cost estimate and scope of work, be sure any revisions are written down as well. Change orders are an everyday aspect of construction projects and having records will keep the remodel running smoothly and help to avoid errors.

Make sure the contract includes a mediation clause. More than likely, you’ll never need to use it, but knowing how disputes will be handled legally should something go wrong will make you sleep easier at night.

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The Brooklyn Trust Company Building

With a history that dates all the way back to 1916, this historic building offers 12 units spread out over 5 stories. If you’re looking for a great place in Brooklyn to live, you won’t be disappointed by everything that The Brooklyn Trust Company Building has to offer.

History

While the building was completed in 1916, construction actually began three years earlier. Since then, the building has remained in its original condition. That’s why this building is truly the only place in Brooklyn where it’s possible to find all of the latest amenities offered in a building with an incredibly rich history.

Architecture

The Brooklyn Trust Company Building was designed in the Italian High Renaissance style. If you’ve ever had a chance to see Verona’s Palazzo della Gran Guardia, you can instantly see all the influences this building drew from it.

The building’s exterior is defined by both rusticated and smooth-faced limestone. When Barry Rice Architects made the commitment to update this building for modern living, they paid very careful attention to ensuring that all of the historic details were honored.

Residences

If you’re looking for a home with space, this building definitely delivers. Each of the twelve units is at least 2,500 square feet in size. Thanks to the ample space provided by each unit, residents will be able to enjoy professional grade kitchens. All ceilings are at least 10″ high, and the living and dining rooms have dark stained white oak floors.

Bathrooms are defined by statuario marble walls and floors. There’s a custom vanity complete with a calacatta gold marble top, as well as a walk-in shower. And in the master bathroom, residents will be able to enjoy the comfort provided by radiant heat floors.

Amenities

Although the building is a testament to history, it provides all of the amenities you could want for modern living. The Brooklyn Trust Company Building has both a live-in super and doorman. There’s also a pet spa, as well as bike & stroller storage plus a supplementary laundry room.

In terms of amenity spaces, the building has a gym, roof terrace, lounge, teen room, children’s playroom and even a music practice room.

Availability

While exact pricing details for the building’s units haven’t been released, prices are expected to start at $3.35M for a two-bedroom and go up to $4.35 million for a five-bedroom duplex.

Neighborhood

Located in Brooklyn Heights, this building’s location provides an opportunity for people to live in a neighborhood where they’re actually able to engage with their community. Not only is The Brooklyn Trust Company Building surrounded by history, but it also provides convenient access to excellent schools and a variety of public spaces.

[ The Brooklyn Trust Company ]

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9 Tips for Spa-Like Luxury in an Apartment Bath

Inspired to facelift your apartment bath? If your bathroom lacks panache, you can spruce up the space and make it feel spa-like with just a few minor improvements.

Of course, if you’re gut renovating and can start from scratch, tile and fixtures will play a significant role in the overall feel. But what if you’re not in a position to renovate? Or, what if you’re living in a rental unit? These two scenarios don’t matter one bit. Check out these nine suggestions to make your bath feel like the ultimate retreat no matter the size or design.

Eclectic Bathroom by Brooklyn Photographers Corynne Pless

1. Select soothing colors

If you don’t have the option of selecting materials for your bathroom, you can still paint the walls and ceiling. Soothing colors like celadon green, soft periwinkle, or muted ocean blue will automatically set up the scene for a spa-themed bath. Pass on bold hues and lean toward neutrals and calming shades.

2. Go with a white shower curtain.

Unless you have a glass shower door, you’ll need an enclosure for your tub. A white shower curtain is a must for luxury in your bath. If you really must have pattern, go with something subtle that sports an upscale look, but preferably with a white background. But first and foremost, do yourself a favor and skip the vinyl.

Contemporary Bathroom by New York General Contractors Rusk Renovations

3. Splurge on bath products.

Shower gels, soaps, and scrubs can make all the difference in your bath experience. Plus, usually the bottles and packaging are attractive and can add a design element to your room depending on how you choose to display them. Don’t be afraid to get creative and organize on a shelf, table, or in a basket.

4. Use only high-quality towels.

You’ll immediately notice the difference in your bath experience if you use high-quality towels. Enclose yourself in an extra large bath sheet as you step out of the shower. A plush terrycloth robe is a nice addition too.

Contemporary Bathroom by Toronto Interior Designers & Decorators Toronto Interior Design Group | Yanic Simard

5. Invest in a nice rug.

You won’t want silk or a material like sisal in an area with water, but a nice small wool or cotton accent rug will feel good under your feet and add a warm layer atop a cold bath floor. A rug is a great way to introduce a bit of color into your bath too.

6. Hang art.

I wouldn’t even consider hanging fine art in a wet area, but posters, inexpensive photos, and prints can add color, texture, or just fun in an otherwise boring bathroom. Want to keep things neutral? Stack black and white photography in simple black frames.

Transitional Bathroom by Thornhill Interior Designers & Decorators Avalon Interiors

7. Add scented candles.

Spa-like baths play with the senses, and a fragrant candle is a lovely, relaxing way to introduce scents, as well as ambiance into your bath. Experiment with your favorites and change with the seasons.

8. Play music.

Your bath looks good and smells good, but what are you listening to while you soak in the tub? Block city noises with some relaxing songs of choice. Could be classical, easy listening, or any music that will help you decompress after a long day.

9. Keep it clean.

A clean bath is a pretty bath. And if you’ve ever visited a spa, you can probably say it was spotless. Keep your bath the same, and you’ll have a more pleasant experience every time you enter.

Traditional Bathroom by Thornhill Interior Designers & Decorators Avalon Interiors

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Neighborhood Spotlight: The Financial District

New York City’s Financial District –– also called “FiDi” –– is much more than just a hub for finance and business. Although Wall Street, the New York Stock Exchange, the Federal Reserve Bank, and the World Trade Center are located here, the neighborhood is one of the oldest parts of NYC, and no one can ignore its cobblestone streets, historic buildings, and old-town feel.

The Neighborhood

Beyond its rich history, this downtown Manhattan neighborhood has undergone a rebirth of sorts, particularly since that tragic day on September 11, 2001. With myriad new businesses, shops and eateries, more New Yorkers, including families, are relocating to this corner of the island.

The number of residents has nearly doubled since 2000, with approximately 43,000 people now living in the neighborhood. More than likely, FiDi will continue to expand and become a place with more than architecturally significant buildings such as One World Trade, but rather, a home for many.

The area borders the parcel just south of City Hall Park as well as family-friendly Battery Park City and its promenade. TriBeCa is just north of the Financial District, so residents often take advantage of the proximity of this hip and glamorous section of downtown.

Construction runs rampant in the area. You’ll find a good number of new luxury high-rises and lofts in FiDi. Even studios tend to offer more space than say, studios in areas such as the East Village or NoLIta. Future residents often come in search of larger apartments with more amenities, both of which can readily be found.

What to do

A stroll along the promenade in nearby Battery Park City boasts panoramic views of the New York Harbor and the Statue of Liberty. City Hall Park and Bowling Green provide boutique-like yet charming green spaces for the area’s denizens.

The South Street Seaport is a short walk and home to a plethora of shops, restaurants, and bars. As more people move to the area, the food scene continues to grow in the Financial District.

Culturally, FiDi offers museums like the Museum of American Finance and the NYC Police Museum. In nearby Battery Park City, you’ll find The Museum of Jewish Heritage and the Skyscraper Museum.

Surprisingly, the neighborhood contains more public art projects than any other section in the city. And for those who have the luxury of telecommuting, FiDi boasts more Wi-Fi spots than anywhere else in town.

Brookfield Place at 200 Vesey St. is a new complex filled with shops, restaurants, visual art, musical performances and more. The $250 million renovation is scheduled to be completed in spring 2015. The Westfield World Trade Center –– the underground mall at the WTC with 350,000 square feet of retail space –– is currently in the works and expected to be open for business in the coming months. The newly built Fulton Center –– a sprawling transit hub for Lower Manhattan –– provides more shopping and dining options for the neighborhood. All of these additions only increase property values and give apartment seekers more reasons to consider living in the Financial District.

What it costs

Once a more affordable neighborhood by Manhattan standards, prices continue to climb. The average price to rent a one-bedroom apartment in FiDi is about $3,600 per month, depending on amenities and location, but can go well over $5,000 if the building has more bells and whistles.

For purchase, one-bedrooms start around $900K and go well over $1.5 million. You might find a few smaller more modestly priced units in the range of $700K to $800K. Most are condos, however, so you’ll find only a handful of co-ops in FiDi.

Transportation

Transit options are plentiful. The N-R subway stops at City Hall, the E and PATH at World Trade Center, and the A, C, J/M/Z, 2/3, and 4/5 run through the neighborhood as well. You can get most anywhere in the city from this part of town, which makes it all the more desirable. The new Fulton Center connects all of these train lines via an underground passageway.

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