Luxury New York Apartments
Buying a New York City luxury apartment can be overwhelming without the right help. Taking some time to learn the buying process, you can make it a lot easier. Even better, Elika buyer’s agents make this process much less stressful by providing unbiased advice and comprehensive services to our clients. We have represented hundreds of home buyers and investors in New York, both local and international. Best of all, since we don’t offer any seller’s services, all potential conflicts of interest and avoided. With Elika by your side, you can be sure of receiving the best possible service and knowledge.
Buying an Apartment
Before buying a luxury apartment, buyers should understand the different types of New York City apartments available. For instance, most for sale in New York City are co-ops. Unlike other types of properties, a co-op building is owned by a corporation. Our guide on the process of buying an apartment will discuss and outline all essential considerations.
Those who have never bought a New York City apartment tend to underestimate how long it takes to buy a condo or co-op apartment. From finding a reputable real estate buyer’s agent, attorney, mortgage pre-approval and financing, viewing properties, the board application to closing day. Unless you are buying a new development condo or townhouse with all cash, you will need to cultivate the virtue of patience. With a knowledgeable buyer’s agent, proper planning, and foresight, you can streamline the process.
Visit our Timeline for buying an apartment to know what to expect on your quest for owning a luxury apartment in New York City.
Ready to Buy?
Prioritize your Apartment Wish List
- Would a condo or coop apartment be a possible choice?
- Choose your preferred neighborhood(s).
- Prioritize the amenities and services you would like in your area. (schools, transportation, etc)
- How much space would you like and need in your new apartment? Which type of space? (dining room, closet)
- Is your priority the neighborhood or size of an apartment?
- Would you prefer to buy a ‘fixer-upper or a ‘move-in-ready’ home?
- How much importance do you place on home value appreciation?
- Would you prefer a high floor apartment with sweeping views or more square feet on a lower floor?
- Which features and amenities (essential and luxury) would you expect in your home or building?
Apartment Types and Sizes
New York City boasts many standard-sized apartments, but several types have their particular kind of layouts. Here are a few descriptions:
A one-room dwelling in which the living room and the bedroom are in a single space. In larger studios, the kitchen is in a separate room, while in others, the eating area can be found along one wall in the main space. Studios can also be referred to as efficiencies.
A one-room apartment that also offers an open area adjacent to the main space which can serve as a sleeping. This type of dwelling is also referred to as an L-shaped studio because of its configuration or a junior—one bedroom.
Flex (convertible) Two
A one-bedroom apartment that features ample space, typically the living room, is transformed into another bedroom and a smaller living room by installing a temporary, also known as a pressurized wall dividing the space.
A one-bedroom apartment; that features an alcove area in the living room, which is typically used as a dining room or converted into a second bedroom.
A two-bedroom apartment with an alcove in the living room that is convertible to a bedroom.
This type of apartment exists exclusively in prewar buildings and describes a dwelling with six rooms. There is a living room, a formal dining room, a kitchen, two full-sized bedrooms, and a small third bedroom generally referred to as the maid’s room. (Classic 7s and 8s also exist and offer one or two additional full-sized bedrooms).
These apartments rent for short periods—anywhere from one week to one year—and contain all the furniture and kitchenware you would need to live comfortably.
Apartment Building Types
There are three basic kinds of buildings in Manhattan: Doorman, Elevator (attended and unattended), and Walk-Up (unsupervised):
These kinds of buildings have a full around-the-clock staff consisting of multiple door attendants and attendants. They often offer such amenities as hotel-type concierge service, on-site health clubs, pools, laundry service, and children’s playrooms. The specific luxury amenities will vary from building to building but will leave you feeling pampered.
The types of apartment buildings that offer door attendants tend to be on the larger side and provide the most significant amount of safety and security. They also afford the highest level of comfort and convenience because your doorman can do a lot for you while you’re not home. Including such things as taking drop-offs of packages and dry cleaning.
If you’re new to the city, you’ll quickly learn that Manhattan revolves around deliveries. Having someone who can sign for your packages can feel like the ultimate luxury. Within buildings that have doormen, there are three kinds of formats: luxury high–rise, standard, and part-time doorman.
These buildings have someone on duty 24 hours a day and offer the safety and convenience of having a doorman without the extra luxury amenities.
These buildings usually have doormen for day shifts but rely on security cameras or some other type of technology to protect residents at night.
These buildings do not have doormen on duty, though some may employ elevator attendants. Regarding security, convenience, and price, these kinds of buildings are considered somewhere between doorman buildings and walk-ups. They often have laundry rooms on the premises, as well as intercom systems, but the amenities stop there. Still, if these buildings are adequately maintained, they can be comfortable places in which to live.
These buildings do not have doormen or elevators. They can be townhouses or brownstones (4–5 stories), above storefronts (usually 1-2 stories), or low–rise buildings (free standing 4–5 stories). These are the most reasonably priced kinds of apartments in the city, yet they have very few amenities.
However, most walk-up buildings have double door security, and a few have more sophisticated features, such as intercoms and security cameras. As with elevator buildings, the quality of life in walk-ups can vary greatly depending on the degree to which they are maintained.