In the past, the majority of luxury accommodations were purchased by successful executives that were in their fifties or sixties. They preferred the more traditional homes with the traditional luxuries. Today, the typical buyer of the luxury homes in real estate markets like the NYC real estate market, are much younger. Generally, this is their first home. However, their first home is not your typical starter home. They are more inclined to spend several millions on their first home. These millennials prefer the comforts that suit their lifestyle and add to their comfort.
The New Typical NYC Real Estate Luxury Buyer
Previously, the typical luxury home buyer in New York markets was the middle aged executive that had reached the top of the ladder at a Fortune 500 company. Today, the typical luxury home purchaser is a millennial tech entrepreneur, music celebrity, or sports figure. Their luxury needs are geared toward the high tech side. This group is savvy with high tech devices and communicate with software applications, laptops, and smart-phones. The millennial buyer focuses on finding luxury apartments that are able to live up to their high tech expectations.
Location Is Important
Real estate professional know that location is important to buyers. This is especially true in NYC real estate. The new luxury real estate buyer prefers locations in Manhattan. Some of the most popular spots are the West Village, Greenwich Village or the Upper East Side. Typically, the young millennial is working from a home office. Certainly, they don’t like to stray far from their home office. Consequently, the young millennial prefers a location that is close to shopping, theaters, restaurants, and bars. Points in Manhattan are right in the middle of wonderful shopping and dining areas. In addition, the new luxury buyers prefer low maintenance living. They gravitate towards high rise living in condominiums, town homes, and low maintenance, small properties.
Town Real Estate
Those looking for luxury abodes in the NYC real estate should contact Town Real Estate. They are a highly regarded real estate agency. Their staff is composed of highly experienced NYC real estate agents that are very knowledgeable about the city. Contact them for more information on the Town Real Estate website, which features tons of information about their NYC luxury apartments for sale.