New York City Residential Buildings That Won’t Stretch Your Budget – Forbes

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You say you don’t happen to have several million clams tucked away in last year’s ol’ jeans? We have good news for you, New York City new home shopper.

It’s not true every nice new residence in the City That Never Sleeps has to exist beyond the budgets of all but the super-rich. Attainable luxury – think less than seven figures — can be found if you know where to look. The buildings we’re talking about don’t compromise on design or amenities, meaning any tears you shed may be those of joy rather than defeat.


Buy/sell, rent/lease residential &
commercials real estate properties.

A less-than-seven-figure sale is notable given Rocket Homes’ report that Manhattan’s March 2024 median sold price stood at $1,360,590, based on all homes sold in the last 12 months. That number actually represented a drop of 1.1% since March 2023.

“House-hunting in New York can feel overwhelming, especially for price-conscious buyers,” says Sarah Patton, co-head of CDMG NY, the purpose-built new development marketing and sales/leasing division of Compass, exclusively representing developers and capital partners of new-to-market residential properties.

“So much attention is placed on the high-end of the luxury market and yet, there’s an entire realm that caters to first-time buyers. These new development properties are well-designed, amenitized and located in desirable neighborhoods. Two great examples are 111 Montgomery in Crown Heights and 171 North 1st in Williamsburg. Both have homes priced under $1 million and offer a premier-living experience with easy access to Manhattan. There are several opportunities to purchase in amazing new developments that offer an entry into this dynamic real estate market.”

111 Montgomery

Occupying a vantage point overlooking Brooklyn’s Prospect Park, 111 Montgomery in Crown Heights offers a collection of 163 condominiums. Studios start at a shade under half a million, and two-bedroom residences are priced from $928,000 and up.

Residents can luxuriate on a frondescence-filled rooftop terrace, with panoramic views of Brooklyn Botanic Garden, Brooklyn Museum and the Manhattan skyline. They can also avail themselves of a sun-washed resident lounge fit for co-working, collaborations or social gatherings.

In addition, the building offers healthful connections with the outdoors at the community garden, where residents can grow vegetables or savor tranquil meditation. A doorman monitors a lobby designed by Mesarch Studios, which worked hand-in-hand with its collaborator, architecture firm Fischer + Makooi.

Eastlight

Bearing a tagline “Sophistication Outside, Serenity Within,” CetraRuddy Architecture’s 34-story condominium is the tallest building in Manhattan’s Kips Bay enclave. It features a 22nd-floor studio at $938,000, as well as studio apartments on lower levels starting at approximately $827,000.

Studio owners may have paid less than the owner of the building’s $3 million, two-bedroom penthouse apartment. But up on the airy resident rooftop terrace, where democracy rules, they have as much right to the outdoor grill, multiple seating areas and panoramic cityscape as the owners of the building’s swankiest residences.

171N1

Gently curving lines, spaces that segue from indoors to outdoors and seven stories of apartments flooded by natural light are among the most observable hallmarks of this new residential building in the heart of Brooklyn’s liveliest enclave, Williamsburg.

The collection of 57 unique homes features studio, one-, two- and four-bedroom boutique condominiums and townhomes. Designers Fogarty Finger ensured the building would serve up sweeping panoramic views from its seven private rooftop spaces offering perspectives on the Manhattan skyline and the Brooklyn Bridge.

Out the door, home owners are steps away from the many eateries, brew pubs, music venues, wineries, grocery stores, climbing gyms and parks that place Williamsburg among New York City’s most coveted nooks. Available units begin at $999,000.

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