Browse through these East Coast homes that evoke a sense of cosiness and relaxation
Florida
There’s no mystery to what makes Florida so intoxicating. Beautiful beaches, rustling mangroves and one-of-a-kind sunsets are but a few things that draw people in from all over the world.
Adam Miller, Broker Associate for Go to the Beach expands on what makes Florida ideal for property investors… “Northwest Florida along the Gulf of Mexico is a unique environment. The climate is sub-tropical and we have beautiful pine forests that grow around us, and we have some of the most beautiful beaches available in the United States. The sand is powder white and the waters are often a clear emerald hue. We also have many coastal dune lakes that provide us a beautiful ecosystem that is rare to the world and only found in a handful of locations including New Zealand, Australia, Madagascar and South Walton (our county), Florida.”
There’s no mystery to what makes Florida so intoxicating. Beautiful beaches, rustling mangroves and one-of-a-kind sunsets are but a few things that draw people in from all over the world.
Adam Miller, Broker Associate for Go to the Beach expands on what makes Florida ideal for property investors…“Northwest Florida along the Gulf of Mexico is a unique environment. The climate is sub-tropical and we have beautiful pine forests that grow around us, and we have some of the most beautiful beaches available in the United States. The sand is powder white and the waters are often a clear emerald hue. We also have many coastal dune lakes that provide us a beautiful ecosystem that is rare to the world and only found in a handful of locations including New Zealand, Australia, Madagascar and South Walton (our county), Florida.”
Peter Griese, CEO for Engel & Völkers Florida concurs that “Florida is the ideal location for property investors.” He continues, “This is due to its certainty of population growth which leads to continued increase in property valuations. While sought-out international destinations such as California and New York have seen a decline in populations, Florida has continued to grow and is now the third most populous state in America.”
Specific areas where high net worth investors flock to include “Southeast and Southwest Florida,” says Peter. “Miami is now the international hub in the U.S. with great beaches and diverse restaurants and a lively night life. For those seeking a more casual setting, Naples has been a long sought-after destination known for great golf courses, calm ocean water and early restful evenings.”
Adam adds: “There are a number of communities on Scenic 30A that were built according to the principles of New Urbanism. These small towns were meticulously designed by talented architects and creators to promote walkability, community activity and overall neighbourhood aesthetics. These new urbanist developments are built right along the coast and are very appealing to high net worth investors because they are consistent in quality and aesthetic while also offering luxury-level amenities, shopping and dining. Seaside, Florida is a favourite tourist destination. It was the backdrop to the 1998 film “The Truman Show,” starring Jim Carrey and Ed Harris.
Carrying the slogan “New Town, Old Ways,” Seaside presents itself as a quaint beach getaway with modern conveniences. The town’s many merchants are vibrant and unique, helping to make visitors experiences memorable. Stop by Modica Market and Central Square Records on your next stay.”
Florida is also home to a host of activities, including “Year-round fishing, golfing and all other beach and ocean activities,” says Peter. “A diverse global population of visitors and homeowners supports a diverse range of high-quality restaurants in the luxury destinations,” he continues. Adam turns our attention to the future of the Florida property market, and says,
“I believe our area has a strong foundation. We’ve been through hurricanes, oil spills, and all kinds of market shifts. What holds things together is the natural beauty which always endures. While our area has always been a strong second-home market, it also has attracted primary owners in the masses over recent years. The area’s beauty and popularity alone point to a positive future for investors and owners.”
This Palm Beach single family home has five exquisite bedrooms, six full bathrooms, and three partial bathrooms. Its integrated and connected layout places the formal living and dining rooms, bar, library, gourmet kitchen, breakfast room, family room, cabana bathroom, and attached two-car garage on the first floor. Upstairs, in addition to the guest-bedroom suites and optional sitting area, you’ll find the sumptuous pool-view primary suite.
£24.45m / €28.41m / $30m
Christie’s International Real Estate
t: +1 561 655 5560
www.christiesrealestate.com
New York
Often referred to as ‘The Big Apple,’ this fast-paced location is a hub of opportunities and a creative spirit. “As America’s largest and more dynamic city, NYC has a constant influx of domestic and international transplants,” says Craig George and Kevin Brown, both from Sotheby’s International Realty – East Side Manhattan Brokerage.
“The vast majority of those new residents are initially looking for rentals, creating a very healthy and lucrative rental market,” they continue. “While carrying costs are higher than other international cities, our historic appreciation over time is where investors will reap the biggest returns.
“While Central Park South, Tribeca and the West Village remain very popular, investors are exploring Midtown East as a value play, as well as the Upper East Side, which is now perceived as a more stable neighbourhood, less transient and with fewer tourists. People love visiting New York City for its food scene, culture and architecture, so it’s only natural they would want to own a piece of the Big Apple!“
“There are no restrictions for foreign buyers in condos or townhouses, but coops may present more challenges due to their higher level of financial and personal scrutiny. The vast majority of coops restrict subletting, so they are less than ideal investments. In a full-service luxury condo, you should expect to pay between $1500 – $2000 per square foot, or roughly $1,800,000 – $2,400,000 on average for a 1200 square foot two-bedroom apartment. New developments average $2000 – $3000 per square foot, so it’ll likely be $2,400,000 – $3,600,000 for a 1200 square foot two-bedroom apartment.“
“The rental market has been extraordinarily strong for the past nine months, with price increases averaging 30-40% over pre-pandemic levels with no concessions. Recently, the demand has started to cool and prices have stabilised or started to come down. In some cases, small concessions are starting to make a comeback.”
Craig and Kevin rave about the countless activities there are in the city…“You could live in New York your entire life and not experience all of the fantastic restaurants, but some standouts include Carbone and Via Carota in the West Village and Le Bernardin in Midtown. Broadway is constantly reinventing itself, and recent hits include Six, Moulin Rouge, and MJ the Musical. One of the great pleasures of New York, however, is just walking the streets and discovering the many boutique shops and historic architecture.“
“Our last market peak was 2015, and since then we have seen prices decline and stabilise at 2018 levels. We fully expect another market peak in the next 3-4 years, and the long-term prospects for appreciation are certain based on historic trends. If you hold long enough (10-20 years), you have an opportunity to double your investment if you time it right.”
– East Side Manhattan Brokerage
The James F. D. Lanier House, a landmark mansion built in 1903 and meticulously maintained for well over a century, remains one of the finest residential architectural works in New York City. Located in the quiet neighbourhood of Murray Hill, on 35th St. between Park and Lexington, the 33-foot-wide mansion is appointed with nine-bedrooms, five of which are suites, seven full and three half baths, as well as three bedrooms and two bathrooms for staff. Other features include an elevator, fitness facility, private garden and rooftop.
£26.7m / €31.1m / $33m
Jim McCann Group, Affiliate of Christie’s International Real Estate
t: +1 561 655 5560
www.christiesrealestate.com
