I am a resident & investor of Battery Park City (BPC) for over 20 years. As the President and Founder of Battery Park Realty (BPR), we specialized in downtown Manhattan real estate sales & rentals for over 15 years. My company has successfully sold over 100 units in three new green buildings: Millennium Tower, Visionaire, River House & Rector Park. We have sold more units in Battery Park City than any other brokerage firm in New York. We have also completed many resales & rentals in the area. Our experience in BPC is unsurpassed. I like to share with you my experience & views of real estate in New York City.
BPC residential condominium prices have tripled in the last 20 years. The population and sales prices for properties almost doubled in five years after 9/11/2001. The Wall Street crisis and recession of 2008 created another bottom in the market. According to analysis from professional more than real estate data and estimates from Downtown Alliance, there will be over 200,000 people working in those new World Trade Center towers in few years projected that at least half of the people who will move to BPC. In addition, three good quality public schools in the area make BPC highly attractive to families. Population will double again from the current record of 60,000.
There is no doubt that the downtown waterfront is one of the most valuable places to live and to work, not least of which are the spectacular harbor views. But in addition, BPC has a wonderful overall quality of life, an oasis of calm in the middle of the commotion of the city.
Rental prices have increased over 10-20% in the past few years. Stock market is in their highest since 2008. Most projections estimate that real estate prices in NYC overall will rise in this summer. There are not many new residential developments underway now. My advice to interested buyers is to focus on upcoming attractive investment opportunities before this summer.
Most of our BPR team lives in downtown. We aim to serve the community in achieving the best sales and rental results for our clients and in providing property management as well.
Please feel free to call us at 212-786-1789 for questions pertaining to property sales, valuation, or your investment and rental needs.