In New York there are some interesting points and understandings about real estate and business that most people don’t realize. Along with California New York property there can be the most expensive in the country. Take for instants a studio apartment in Manhattan in the second quarter of 2016 would sell for $550,000 and of course is expected to go up. A 1 bedroom apartment in 2016 would sell for $768,500 and a 2 bedroom apartment will sell for $1,654,656. As you can see housing prices are most aggressive, but then again there is business there that allows wages that permits the home owner to afford such housing.
This makes for great business opportunities for many property owners in and around the New York area. A land owner selling properties from these areas can go into other areas of the state or other states and purchase two sometimes three houses or commercial buildings with the money that they gleaned from selling in New York. A rental in New York in some areas is not quite as bad as in San Francisco, but still can be very high as compared to the rest of the country. Take for example a studio 90th Street will rent for $2,557 a month as compared to a studio in San Francisco which can go for around $4,000 a month depending on the area. It just goes up for there just do the math.
So because New York has one of the most sought after real estate in the nation doing any kind of business in property will fetch the owner of the property a pretty penny so to speak. You might ask yourself “why is that”? Well the answer is simple, entertainment and trading. These two main reasons are why real estate is so lucrative there in New York. Entertainment pulls in a high dollar and so does trading in the stock market. People there simply have more money there than anywhere else in the country.