There are many good reasons to buy a condo as an investment. And it’s not just individuals who buy New York City luxury condos. Companies can also choose to purchase condos for reasons such as tax savings, having an easy place to host people from out of town, or having workers stay when they come.
Developers of upscale homes list a long list of features that come with them. But you should think of certain things as “irreducible minimums.” If your apartment doesn’t have these things, it might not be a good purchase.
Common Areas
Common places are what make community life what it is. The roads, stairs, halls, swimming pools, and lawns are shared in a condo complex. These should be well kept, large, and well lit to give them a special touch. Common areas make condo buildings such as 35 Hudson Yards stand out. When looking for luxury condos, look for high-quality and special amenities.
Square Footage
Whether buying in the middle of the city or out in the suburbs, you should think carefully about the square area. New York City luxury condos aren’t like a single-family home in that they don’t have an attic or a shed where you can store things.
For example, you’ll need the square space if you want a home office in your luxury apartment. This can be done with a separate room or an extra bedroom. Still, it’s important to remember that the extra square feet will cost you.
