Location, Location

To buy the hottest property in New York, get to know the hippest neighbourhoods

Those looking for a traditional luxury New York experience should be focusing on the Upper East Side and the Upper West Side. “They’re composed of mostly grand old co-operative apartment buildings—and the most extravagant of the new developments, such as 432 Park Avenue and One57,” says Henckels. The apartments in One57, which was designed by Pritzker Prize-winning architect Christian de Portzamparc, will benefit from the fivestar concierge services and amenities of the Park Hyatt New York in the same building. Both One57 and 432 Park Avenue “have already had some sales over US$90 million,” says Henckels. Meanwhile, “the hippest place to buy is currently downtown, with all its different neighbourhoods—west Village, Tribeca, Soho—as well as Brooklyn, where the under-us$10 million market is exploding,” adds Henckels. According to Desmoine, “Manhattan is still evolving. A great example of this is the Hudson Yards on the West Side. What was once a tangle of below-grade tracks and train cars is in the process of transformation into a vibrant neighbourhood with new retail and residential buildings, parks and beautifully designed public spaces.” She also suggests the Financial District, which is becoming something of a hub on weekends and is home to a host of new condominium developments.