What do open borders and current migration and lifestyle trends mean for a real estate landscape as multifaceted as New York City?
The Great Migration
The nation’s metropolises are welcoming back millions to their bustling streets. Coldwell Banker Global Luxury’s annual “A Look at Wealth” report found that urban repatriates are one of luxury real estate’s top new “Power Players,” representing 1,647,110 properties owned by the affluent, with $5M+ in net worth in downtown cores. This group is returning to the urban lifestyle.
Thanks to profound lifestyle changes, including telework, NYC is more desirable than ever as leaders from across the globe seek a presence in this world capital, and buyers look to live in a place that provides ready access to lifestyle choices and interesting experiences outside of work.
On November 8, the United States opened its borders to fully vaccinated travelers. As tourism picks up the pace, so too will interest in international real estate investment. As the epicenter of international investment, New York City is no stranger to big real estate deals. It is also home to 8.8 million homeowners and renters.
Coldwell Banker’s expansive network of brokers and agents in NYC, touching all corners of the globe through a referral network, delivers uniquely helpful service for clients.
Deep City Roots
It takes a vast network of professionals with specialized local knowledge to serve as the ultimate global gatekeepers to this sprawling city. The Coldwell Banker influence touches all five boroughs as well as Long Island, representing something special for each consumer who aims to call New York City home. The Coldwell Banker brokerages are not only interwoven into the fabric of their communities, but they are also as diverse as the neighborhoods and hamlets they serve, ensuring representation across all market segments.
Starting from the eastern edge of Long Island, Coldwell Banker Beau Hulse Realty Group specializes in the Hamptons. Coldwell Banker’s strong presence continues across Suffolk County with powerhouse companies like Coldwell Banker M&D Good Life, Coldwell Banker Distinctive Homes and Coldwell Banker Easton Properties. Coldwell Banker has extensive roots in the neighborhoods of Nassau County and Queens, including Coldwell Banker American Homes, Coldwell Banker Kueber in Glendale, Coldwell Banker Phillips in Middle Village, Coldwell Banker Napolitano in Ozone Park and Coldwell Banker Labarca in Brooklyn. With expert knowledge of Harlem, Manhattan and Brooklyn, Coldwell Banker Reliable connects the dots between NYC’s famed boroughs. And Coldwell Banker Realty’s recent acquisition of Warburg Realty adds additional focus across both sides of Central Park and into lower Manhattan. Beyond Manhattan, Coldwell Banker Signature is situated to the north in the Bronx and Coldwell Banker Realty has offices in Westchester County, while Coldwell Banker Advantage is south, in Staten Island. Local expertise at the ready, in every direction.
And, Bagels!
When purchasing or renting a home in NYC, consumers are buying into not just a place to live part of the year or year-round, but the lifestyle itself. World-class agents are equipped with more than deep local knowledge of the neighborhood. They’re experts on the communities they serve. From where to grab the best bagel to the best gym to work it off, the best agents don’t just guide people home—they provide unmatched service and information that guides people to their new way of life.
Real Estate Resilience
The resilience we’re seeing in New York runs deep with Coldwell Banker. As a brand created from the ashes of the great San Francisco earthquake, we celebrate shaking off the dust and rebuilding. The strength of our agents is the strength of our brand, and we couldn’t be more hopeful for what this great city has in store.
Interested in buying or selling a home, or in joining the brand that shines like no other? Visit Coldwellbanker.com.
Liz Gehringer is chief operating officer for Coldwell Banker Real Estate, LLC.
