Guide to Buying a Pied-a-terre in NYC + Lower Manhattan 2-Beds Open to Part-time Residents

Thinking about becoming a part­-time New Yorker? Then that means you’ll need an apartment to crash while you’re visiting, ­ such a place is better known as a pied-­a-­terre. Yesterday, on November 8, 2021, the United States reopened its borders for vaccinated foreign travelers after more than 18 months of restrictions that aimed to stem the spread of the calamitous contagion. The policy shift will not only serve as a holiday-season boon for leisure-dependent industries such as hotels and restaurants, but also bolster the international segment of the real estate market which has a sizeable presence in the cities of New York, Miami, and Los Angeles.

Besides the restrictions, the United States has struggled with some of the highest rates of Covid-19 cases per capita, disincentivizing international buyers to purchase real estate in once uncertain U.S. markets. Now with the New York market finding its footing and sale prices beginning to inch higher, foreigners looking for lingering deals would be enticed by lower prices, higher inventory, encouraging vaccination rates, and the prospect of a strong economic recovery led by new federal and local government administrations. In other words, many are expecting strong value appreciation in the coming years.

According to a recent story from the New York Post, agents are seeing increased interest from prospective buyers from Taiwan, Hong Kong, Singapore, and Japan; joining the accustomed major players from Russia, China, and Canada. Whether coming from the state or the country of Georgia, this article is an introduction for those looking to purchase a New York City apartment to be lived in on a part-time basis. Also find below a round-up of rare, approachable-priced co-ops that are open to pied-a-terres.