Luxury NYC Lofts for Sale
If you’re looking for a different living experience in NYC, a loft may be just the right thing for you. Formally, these were a cliched residence for aspiring artists and writers. Well, the artistic types indeed still take an interest in lofts, but now they’re not the only ones. Loft living is now popular with a range of people from different backgrounds and career choices.
If you think you’d be interested in the loft lifestyle, then let Elika Associates be your guide. Our experienced brokers cater exclusively to buyers and know the loft market top to bottom (no pun intended). Buying any kind of real estate in NYC can be a frustrating experience, even for those who’ve done it before. Our agents take all our clients’ needs and concerns into account when searching for the right apartment. Work with us, and you can be sure of a hassle-free experience. One that will leave you with substantial investment to serve you in the years to come.
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The History of NYC Lofts
The loft has become almost as big a part of New York culture as Broadway and The Statue of Liberty. But its beginning was a humble one. Back in the day, when artists were still “fighting the man” for respect, lofts were large, empty warehouse spaces, located in financially challenged areas of the city.
They sat empty because the factory boom was beginning to wane, the money and jobs moved elsewhere. Meanwhile, starving artists throughout Manhattan were finding work scarce, and property values rising.
Without the means to pay higher rent, they found these abandoned warehouses both cheap and adaptable, with plenty of room for them to spread their wings. Of course, early loft-living was illegal, as the buildings were not zoned for residential use. Regardless, the building owners, faced with the same weak economy as everyone else, often looked the other way when met with paying customers.
The First Artist Friendly Residence
One of the first areas to see an influx of artists was the once drab and run-down area that lay south of Houston Street and north of Canal Street, an area known as SoHo. Here, where the roads were barren and dotted with closed warehouses, the creative minds of local artists saw the wide-open spaces and minimalist design as a chance to grow and market themselves. The artists’ arrival effectively turned a previously foreboding area of large looming buildings into a trendy neighborhood of small boutiques, shops, and fancy restaurants.
Once SoHo saw the development of artist lofts, something strange happened. SoHo property values increased. While this was good for the economy of the area, it also pushed the low-income artists away from the neighborhood. Most moved to other less expensive parts of town, such as the Lower East Side and Hell’s Kitchen.
While this was happening, developers and owners began to realize that the artists had an idea here, with these “loft” apartments. They renovated their properties to reflect the new ideal, except they catered to a higher tier of residents. They retained the lofts’ high ceilings and large industrial windows while adding more amenities and expensive décor.
Evolution of the NYC Loft
When creative types moved into old warehouses and turned them into unique, expansive homes full of personality, they started a new trend in New York City living. Lofts in yesteryear were drafty and often less than ideal for human occupancy. Lighting was substandard, pipes leaky and wood or concrete floors gouged or stained. But the loft had seemingly infinite space with no internal walls dividing the expense. Now the trend of loft living has expanded across Manhattan and outer boroughs.
As a result, developers have worked to envision a more modern idea of the loft. Newer lofts still focus on space and lighting, but now they use more fashionable materials—for instance, hardwood floors and custom-designed kitchens and bathrooms. New loft developments have also added community perks, such as fitness centers, landscaped terraces, and barbeque areas. No longer are lofts just for artists. Now all manner of people, from writers to actors, to stock market analysts, call Manhattan lofts home.