It’s a great time to consider buying real estate in Midtown East, as many parts of Manhattan have leaned more toward a buyer’s market in recent months. The number of homes on the market is higher than the number of buyers searching for them, which means prices are likely to take a dip in the coming season. Buyers looking to invest will want to work on preparing for their purchase now so that they’re ready to invest when the time is right.
With higher supply than demand, buyers could find themselves with more power to negotiate with sellers. Those searching for homes in Midtown East can be aware of how long the process might take and how to make a strong offer by partnering with a Manhattan realtor who understands the intricacies of the Midtown East market. Aside from having the right team by their side, buyers should keep in mind these six tips.
1. Property styles and building amenities
In Midtown East, buyers can expect to find stunning, modern condominiums in the most exclusive buildings. Spacious units with over 2,000 square feet invite residents to relax and unwind in their own urban oasis. One recently-sold property at 300 E 56th was newly renovated with five bedrooms, four bathrooms, and impeccable attention to detail. From bamboo flooring to multiple walk-in closets, this home was a picture of Midtown East luxury living. If you’re hoping to find your next home in Midtown East, make sure you make a list of everything you’d like your property to have.
Building amenities in Midtown East cover all the bases and then some. Residents can expect fitness facilities, rooftop lounge and patio spaces, and attentive concierge services. Some buildings even feature childcare and pet care services, entertainment rooms, formal dining areas, and private outdoor spaces.
2. Homes in your price range
One of the most important factors to consider when buying real estate in Midtown East is finding a home in your price range. Homes for sale in Midtown East come with a wide range of price tags. Single-bedroom units can span from $425,000 to nearly $800,000 depending on location and square footage. Homes closer to the 2,000-square-foot threshold with more than two bedrooms are going to fall closer to the $2,000,000 to $5,000,000 range and above.
Interested buyers can set themselves up for success by thinking through how much they’d like to spend on a home and then spending time reviewing their finances. Once they’ve landed on a number that works for them, they should connect with a mortgage lender to see what kind of loan they’re eligible for.
3. The right lender
Finding the right lender means exploring what’s available in the neighborhood. As opposed to working with a national bank, working with a lender in Midtown East can be advantageous. They’ll know the pace of the neighborhood market and be able to serve buyers efficiently.
Oftentimes, for buyers taking out a loan, the decision of which lender to use comes down to mortgage rates. It can be helpful to review current rates to see what’s possible. From there, it’s a matter of choosing the right lender and right loan option for you.
4. Local restaurants
Part of your search for the right home in Midtown East should involve exploring what the neighborhood has to offer. You want to make sure you find a building close to your favorite shops, cafes, and services. Aside from incredible Manhattan spots like the Chrysler Building and Grand Central Terminal, Midtown East also has a host of divine upscale restaurants.
Deux Amis on 51st is a cozy option for French food, or there’s Bistro Vendome further north. The best seafood is found at eateries like Ethos and the Sea Fire Grill, while American favorites are the cuisine of choice at Hillstone and Lexington Brass. From French and American to Greek, Italian, and Lebanese fare, buyers will find somewhere to satisfy any craving in Midtown East.
5. The best places to shop
Hand-in-hand with top restaurants are the best places to shop. Settled right next to Park Avenue, Madison Avenue, and 5th, Midtown East provides residents with access to some of the most luxurious shopping in Manhattan. Saks Fifth Ave, Cartier, and Armani are just the start along 5th Avenue, where locals can also find retailers like Burberry and Bergdorf Goodman.
Properties at the northern edge of the neighborhood are minutes from Bloomingdale’s, Sephora, and the shops on the Upper East Side. Truly embracing their new luxury lifestyle, homeowners in Midtown East can find everything they need just a few blocks from their front door.
6. An expert realtor
A realtor with expertise in helping clients buy and sell real estate in Midtown East is the most important resource to look for when you start shopping for homes. Only a professional realtor who’s familiar with the area will be able to help you navigate the unique Manhattan market.
A professional realtor will have insight into how long homes stay on the market as well as where to find the properties that check off all the boxes on your wishlist. Once you find a few properties you love, your realtor can help you strategize about how to put in an offer and traverse the closing process. Homes for sale in Midtown East are luxurious and exclusive, so buyers need to work with real estate professionals who have a knack for negotiations.
Find your next home in Midtown East
To work with a top real estate team as you search for your next home in Manhattan, reach out to The Casagrande Team. A high-powered team of real estate experts, The Casagrande Team specializes in luxury properties across Manhattan. So when you’re ready to start the process and discover everything that Midtown East has to offer, get in touch with The Casagrande Team.
Share:
