Description

NY Daily News real estate expert, Jason Sheftell goes to West Chelsea and takes an in depth look into one of New York's best neighborhoods.

Transcript

This is Jason Sheftell for the New York Daily News on 17th Street in 10th Avenue, right across the street from the New High Line Park, which is an urban, modern, outdoor area built in a hundred year old train tracks. This park is turning 10th Avenue into one of New York City’s top residential corridors. It used to be a quiet, slightly barren landscape. Rental buildings and small restaurants are turning into one of New York City and the worlds’ architectural highlights. You’ve got four or five outdoor cafes. You’ve got buildings by some of the best architects in the world—Jean Nouvel, Frank Gehry, Vanderbilt, Frank Curtis, Audrey Matlock, all have multimillion dollar residential condo buildings three blocks of each other. Rents are extremely high in some of these new buildings where $3200.00 will get you a studio, $4500.00 will get you a one-bedroom, and $7000.00 will get you a two-bedroom. It gets a little less expensive farther away from 10th Avenue or you can pay $1700.00 to $1800.00 for a studio if you’re lucky, $2200.00, $2300.00 or $2400.00 for one bedroom. There are some rent-stabilized buildings still left in this area. Those are very hard to get into. In terms of prices for those condos by those great architects, it looks like $1.5 million for one-bedrooms all the way up to $22 million for penthouses. At 10th Avenue, it’s such a great place to live because you get so much sunlight. It’s a little noisy but you have so much going on with thousands of locals and tourists coming into this area. In my opinion, within three to five years, this could be New York’s top designed districts.