7 Things to Look for When Investing in Greenwich Village Luxury Real Estate

7 Things to Look for When Investing in Greenwich Village Luxury Real Estate

  • Caryl Berenato
  • 11/23/22

Beginning the home-buying process is exciting, especially if you’re interested in finding a luxury home in Greenwich Village. One of the most sought-after neighborhoods in the city, the Village welcomes residents who want access to a little bit of everything. Whether you’re interested in visiting the latest up-and-coming restaurant, stimulating your intellectual side, or engaging in the arts, Greenwich Village has it all. Embarking on an investment in the luxury market, however, takes a certain expertise, and there are a few key things to look for as you get started. So if you’re in the market for West Village luxury homes, read through these seven tips to set yourself up for success.

1. The perfect location


Greenwich Village stretches North to South from W 14th to Houston and East to West from Broadway to the riverfront. The southeastern part of Greenwich Village hosts New York University and Washington Square Park, providing a youthful, academic feel. Further northwest, West Village luxury homes abound, giving the area a more upscale and relaxed atmosphere.

As you look to invest in Greenwich Village real estate, take time to walk around the neighborhood and discover which parts you’re drawn to. Explore what’s available nearby. Greenwich Village has incredible international eateries, off-Broadway theaters, and cozy jazz clubs. It’s close to the Grey Art Gallery and the Whitney Museum. Whatever your favorite places are to visit, make sure you choose a part of the neighborhood that puts you close to them all. Working with a local realtor, you can pinpoint areas that may be the right fit based on the property you’re looking for.

2. Architecture styles and home features

Greenwich Village is known for its stunning architecture, with several buildings serving as the settings for movies and television series. West Village houses for sale are no exception and exemplify all that makes New York City an incredible place to call home. With a local history dating back to the 1700s, the Village is now an eclectic mix of modern condominiums and stunning centuries-old apartment complexes. It’s not uncommon to walk past examples of Georgian Revival or Second Empire architecture alongside Italianate townhomes and the occasional Greek Revival home north of Washington Square. As you begin the process of narrowing down what you’re looking for, consider whether you’d like to invest in an older home or a newer construction. Consider the home features you’d like and whether you prefer a great view of the neighborhood or want a home with additional square footage.

3. Property age and renovations

If you love the charm of an older home, it’s important to remember that the property may have more needs. You’ll want to inquire about any recent upgrades, repairs, or renovations the owner has completed. Even in newer properties, it can be helpful to know what work has been done. That will give you a sense of what condition the property is in and whether you need to plan on investing more in it upfront.

4. The right market conditions


Looking for the right market conditions can be a strategic move for investors as inventory, demand, and pricing shift through the seasons. The best way to understand how the market changes from month to month is by partnering with a realtor who has experience with West 
Village houses for sale. Only a realtor who has helped other buyers find properties throughout the area and has kept an eye on current trends will be able to advise you on the best time to invest. It can also be helpful to consider your overall investment goals, whether you’re trying to find a property quickly or get a property at a specific price. Ideally, market conditions where inventory outweighs demand will give buyers the most negotiation power and flexibility, so it’s worth speaking to your realtor to determine when inventory is highest and demand lowest throughout the year.

5. A strong listing


As you start to browse available properties, you’ll want to note whether or not the home has a complete and thorough listing page. Luxury home listings in Greenwich Village should include clear, professional photography that showcases most, if not all, of the rooms within the home. If a home has been staged, you can assume the owner is approaching the sale with more professionalism and dedication. Home descriptions should provide additional information such as square footage, onsite or building amenities, and any recent updates to the home. Keep your eye out for listings that feel haphazard or incomplete or that leave you with too many questions.

6. A reasonable price


A reasonable price is also a must for any luxury home in the West Village. As you work with your realtor to prepare to buy a home, explore what properties are currently selling for. This can help you determine your own budget and determine what kind of property you can afford. Reviewing your finances ahead of time will also ensure you don’t commit to a mortgage that’s too high. When you or your realtor notices that a home is priced too high or too low, that could indicate that you need to keep looking.

7. An expert realtor

Nothing helps the buying process go smoothly, like working with an expert realtor. Along with providing a keen understanding of the West Village market, an experienced realtor knows how to guide buyers through each step of their journey. Licensed Associate Real Estate Broker Caryl Berenato brings her enthusiasm for the New York City market to each client she works with. With a home in Chelsea, Caryl knows the importance of finding the right property to call your own. So when you’re ready to learn more about investing in a luxury Greenwich Village home, get in touch with Caryl Berenato.

 

Work With Us

Caryl built an unparalleled knowledge base and tool kit of resources to address any obstacles that may arise, and she has a strong network of professional contacts she readily shares with her clients.