Located on the banks of the Hudson River in Lower Manhattan, the West Village oozes old New York charm and homeowners are willing to pay top dollar for it. The most expensive real estate in the city is located in the area corresponding to the postal code 10,014, according to the ranking of the median price per square meter, which amounted to 26,288 euros in December, according to Realtor .com. (Realtor.com is part of News Corp, which owns the Wall Street Journal). One of the reasons why prices per square meter are so high in this neighborhood is that much of the housing stock in this approximately 1.47 square kilometer area is in a historic zone. Demolition of existing buildings and new construction must first be reviewed and approved by the New York Landmarks Preservation Commission. Hence the supply kept at a relatively low level, explains real estate agent Jared Barnett, co-founder of the Barnett-Bittencourt Team at Compass. “Given the limited supply, the goods available are more expensive,” he explains.
2024-02-01 17:06:41
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