Unofficial U.S capital of diversity, culture, finance and opportunities
New Yorkers walk and talk fast, a product of the pace in the most densely packed U.S. city, where over 8 million people from more than 150 countries live in around 300 square miles. New York City is often equated with Manhattan, and locals usually say “the city” when they’re referring to Manhattan, but NYC also comprises Brooklyn, Queens, Bronx and Staten Island.
The city is a global economic powerhouse. More than 100 billionaires live here, the most in the world, made wealthy from some of the area’s major industries, including finance, real estate, fashion and retail. But the city also attracts those with more modest means, including people who come here to chase their dreams and a better future.
The Dutch first settled on Governor’s Island in 1624, calling it New Amsterdam, before acquiring Manhattan from the Lenape for a pittance of trade goods. The Dutch colony decamped to what is now Battery Park and the Financial District in Lower Manhattan, and the city continued to grow until becoming the U.S. capital in 1785. Though NYC hasn’t been the capital for centuries, it remains an epicenter for capital gain, culture and opportunities. For decades it's served as an inspiration for poets, songwriters and artists of all kinds.
New York is home to some of the world's largest banks like JP Morgan Chase.
The Lincoln Center is a world-class performing arts center in Lincoln Square.
One Wall Street, a new condo set in a former bank headquarters in an Art Deco skyscraper.
New Yorkers enjoy a desirable waterfront lifestyle with the classic city views of Chelsea.
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Wide range of housing choices from prewar co-ops to new luxury high-rises
Almost 70% of New Yorkers rent, and purchasing a home is a different beast from the rest of the country. First of all, it’s priced higher than most of the U.S., with Manhattan being the most expensive borough. The median home price in NYC is just under $800,000, compared to the national median of $420,000; the price per square foot widens that gap even further. Despite sky-high costs, the city tends to attract an inordinate amount of all-cash buyers, who represented 60% of all deals in Manhattan in 2024. “The higher the price, the higher probability of a cash buyer,” says Jonathan Miller, president and CEO of Miller Samuel Inc., and one of the foremost experts on the NYC housing market.
It’s worth noting how housing prices haven’t experienced the sharp pandemic price spikes of the suburbs, as people left the city and encountered limited housing stock. Instead, “It’s a moving sideways scenario,” says Miller. Part of that is due to inventory, with NYC experiencing a normal supply and demand. Plus, developers have been adding thousands of units throughout the boroughs in neighborhoods with an easy commute to the city, including DUMBO, Long Island City and the South Bronx.
Buyers will find a wide variety of inventory here. Classic 19th-century brownstones, named for their brown brick facades, are among the most iconic styles, joined by a growing number of luxury high-rise condos designed by famous architects. Many of these are found along Billionaires’ Row, a section along and around 57th Street in Midtown , but less expensive condos continue to be built around NYC. Co-ops are the most common housing type, a relic of times past in which buyers own collective shares in a building as opposed to owning a unit outright. These tend to be more difficult to buy into and are usually priced lower than condos. They’re run by resident boards that typically require extensive financials from an applicant and an interview; some on the Upper East Side are notorious for turning down buyers. More recent construction includes condops. The latter aren’t as common as condos, and are usually structured like a co-op regarding apartments but contain commercial spaces that operate as condos.
Throughout the city, especially the boroughs, it’s common to find multifamily rowhomes, detached single-family homes, large housing complexes and townhomes. There are even Victorians in areas like Midwood, Brooklyn, and mansions in parts of the Bronx, like Fieldston in Riverdale. Central Park South topped the list of most expensive NYC neighborhoods with a median sale price of $5.4 million, with Woodlawn in the Bronx coming in as least expensive with a median price of $132,000.
Billionaires' Row sits above the rest of Manhattan with the most iconic Central Park views.
Overlooking the Hudson River, Morton Square brings luxury living to the West Village.
Classic Victorian homes can be found throughout the quiet streets of Brooklyn.
Greek Revival mansions in Queens are an architectural gem.
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Wall Street, Broadway and tourism are economic drivers
It’s no coincidence that the city contains the largest central business district in the US, which includes Midtown and the Financial District, home to 40 Fortune 500 companies. FiDi contains Wall Street, including the New York Stock Exchange.
Tourism is another main economic driver. Thanks to attractions like Broadway, Times Square , the Statue of Liberty, museums and more, the city drew 62 million in 2023, making it the most visited in the US. Tourists are most noticeable in Midtown and other parts of Manhattan with major attractions.
Other major employers are found in media, fashion and the arts, along with construction, professional services, education, retail and a growing technology sector.
Times Square is New York's most visited tourist attraction averaging 330K pedestrians daily.
The Rink & Christmas Tree at Rockefeller Center are major global attractions in New York.
The photogenic DUMBO is easy to access for New York locals & tourists to enjoy.
The famous Charging Bull in the heart of FiDi is visited by many travelers year-round.
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World-class shopping and dining mixed with only-in-NYC finds
Practically every neighborhood has its own dining district. The city may be synonymous with pizza, bagels and hot dogs, but the food scene’s 25,0000 restaurants go well beyond that. This includes more than 70 Michelin-starred restaurants, from Flatiron District to Williamsburg. The latter, in Brooklyn, is also home to some of the city’s buzziest eateries, as are many other neighborhoods throughout North Brooklyn and Downtown Manhattan. Then there are the truly authentic spots that draw foodies, from cornmeal arepas in Jackson Heights to dim sum in Sunset Park.
Like dining, many neighborhoods also feature their own shopping corridors, which are just as varied. High-end shoppers head uptown to Madison Avenue’s designer boutiques on the Upper East Side and to SoHo for high-end with an edge. Those seeking trendier one-of-a-kind pieces head downtown to Nolita, the East Village and surrounding neighborhoods or into Brooklyn neighborhoods like Cobble Hill, Williamsburg and DUMBO. Chains proliferate throughout Manhattan, especially along Fifth Avenue, 34th and 42nd streets. Shopping complexes, both high-end and mid-range, are scattered throughout the city, rounded out by flea markets, holiday markets and pop-up shops.
Enjoy a smooth latte at the many coffee shops in West Village, such as Cafe Kitsune.
The Shops & Restaurants at Hudson Yards offers luxury shopping and dining.
Uncle Lou in Chinatown is a famous modern Cantonese restaurant.
FiDi locals have multiple cocktail bars with trendy & upbeat vibes at the Tin Building.
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Enough culture and sports to cater to all tastes
Entire guidebooks are devoted to NYC’s countless cultural attractions, covering the performing arts, concert venues, arenas, museums, galleries, zoos, botanical gardens and more. In Manhattan, Broadway is one of the largest attractions, a concentration of theaters in Times Square and Midtown West, and featuring the biggest shows. Many of the city’s most popular museums, like the Metropolitan Museum of Art, are along Museum Mile, a section of Fifth Avenue on the Upper East Side. Smaller museums abound, along with about 1,400 art galleries; many are concentrated in Chelsea and Tribeca .
For professional sports, New York unsurprisingly hosts a wealth of teams (although football games are still played outside the city’s boundaries). The New York Mets play baseball at Citi Field in Flushing, while rival Yankees play in the South Bronx. Both Staten Island and Brooklyn also have minor league teams. The Knicks basketball team holds court at Madison Square Garden while the Brooklyn Nets call Barclays Center home. Football fans have the Giants and Jets, who both play at Met Life Stadium in East Rutherford, New Jersey. For soccer, New York City FC plays at Yankee Stadium until their new facility is built in Queens. The Red Bulls are another option; they play in Harrison, New Jersey along with Gotham FC, the women’s soccer team.
Citi Field is a baseball stadium located in Flushing Meadows Corona Park.
Come and watch a game at The Yankee Stadium.
The Metropolitan Museum is a popular destination for residents of the Upper East Side.
At The Hispanic Society Museum & Library you can view history with amazing artwork.
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Year-round parades and events that attract millions
New York is known for its parades, with ones like the annual Macy’s Thanksgiving Day parade broadcast nationally. The Puerto Rican Day Parade is technically the city’s largest, while the St. Patrick’s Day Parade is one of the oldest. The NYC Pride March is considered one of the largest in the U.S. with about 2 million attendees. Parades are held year-round throughout NYC, both large and small and to celebrate holidays and cultural groups. Other standouts include the West Indian Day Parade, the Village Halloween Parade and the Mermaid Parade, a campy Coney Island parade that kicks off summer. For events, the NYC Marathon is among the most famous, with runners racing through all five boroughs.
Friends & families cheer on runners at the yearly New York City Marathon.
The NYC Pride parade is loud & proud with over 2 million attendees in New York.
Celebrate Halloween NYC-style with costumes, music at the Village Halloween Parade.
The West Indian Day Parade draws close to two million people.
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An abundance of green space in a concrete jungle
The Trust for Public Land estimates that 99% of New Yorkers can walk to a park within 10 minutes. Central Park is the most famous, a feat of urban planning designed by Frederick Law Olmsted that opened in 1876. Its 843 acres are a respite from the constant noise and bustle, where locals can find plenty of quiet pockets or jog or bike a 6-mile loop. The park also holds concerts throughout the year and is home to Shakespeare in the Park every summer. Bryant Park, Washington Square Park, Madison Square Park and Union Square are equally popular neighborhood options throughout Manhattan. More path than park, the Hudson River Greenway is a year-round magnet for cyclists and runners. Prospect Park in Brooklyn is Central Park’s equivalent in terms of popularity on a smaller scale of 526 acres. Like Central Park, it also contains a zoo, lake and ice-skating rink.
But the title of largest park goes to Pelham Bay Park in the Bronx, covering more than 2,700 acres and containing two golf courses, hiking and horseback-riding trails, a beach and more. Newer parks include Shirley Chisholm State Park in Brooklyn, a 2019 addition built on former landfills. Little Island near the Meatpacking District is the newest and most unique Manhattan park, its unconventional design factored in climate change and rising sea levels.
The 172-acre Governors Island is a short ferry ride from Brooklyn and Manhattan. In recent years this one-time military fort has been transformed into a car-free, year-round green space that’s home to artists in residence and educational and climate organizations.
These major green spaces are complemented by smaller parks and pocket parks throughout all five boroughs. Come summer, locals head to area beaches, from the Coney Island Boardwalk in Brooklyn with its amusement park to the Rockaways in Queens for surfing.
Central Park Lake is great way to spend time during a New York Summer.
New Yorkers gather weekly at the Union Square Farmers Market, open year-round.
Flowers & walkways are abundant on Little Island in the Meatpacking District of New York..
Prospect Park's bike loop gives New York residents a safe and fun place to ride.
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Public schools are complemented by charters, magnets and private schools
The New York City Department of Education oversees its public schools. Until the eighth grade, most students attend the school they are zoned for, although there are charter, magnet and private options available. Middle school students can apply to attend any school within the system, although students from the district are given preference during admissions.
For grades nine through 12, students choose their top 12 high schools anywhere in the city and are then entered into a lottery (that means the school may not be walkable or even in the same borough). Some public high schools have admission requirements. Highly rated schools such as Stuyvesant High School and Bronx High School of Science require students to test into them, while others, like Manhattan’s Fiorello H. LaGuardia High School of Music & Art and Performing Arts or Frank Sinatra School of the Arts High School in Astoria, require an audition.
New York has some of the nation’s best private schools. Riverdale Country School ranks as the best private K-12 school in America by Niche. Other standouts include the Brearly School, Regis High School, the Chapin School and Horace Mann.
Extensive subway system, regional trains, express buses, ferries and 3 airports
The NYC subway system is the most comprehensive public transit system in the country with many of the 36 lines running 24/7. There are no trains between Staten Island and the rest of NYC, so locals rely on cars, a limited railway system or the free Staten Island Ferry to Manhattan. Regional trains include PATH and NJ Transit to get to New Jersey, Amtrak and the Long Island Rail Road. Metro-North trains run to the northern suburbs and Connecticut.
Local and express buses are extensive and key in areas where trains are limited. The city has created designated bus lanes on some major thoroughfares to help speed travel. It has also added hundreds of miles of bike lanes. Most Manhattanites don’t own cars, but car ownership is common in the outer boroughs where trains are either a long walk or stations aren’t accessible. Major highways include the BQE, the Belt Parkway, FDR Drive and the West Side Highway. The main airports are JFK for international flights, LaGuardia for domestic flights and Newark Liberty in New Jersey for both domestic and international flights.
Countless houses of worship
It’s possible to find almost any type of religious group and house of worship here thanks to the city’s diversity. Some of the most famous churches include St. Patrick’s Cathedral and Trinity Church. While the majority identify as Christian, NYC is also home to the largest Jewish population outside of Israel.
Environmental considerations involve flooding
NYC experiences four seasons. Fall and spring tend to be mild and short compared to longer winters and summers. Winters trend cold with less snowfall than prior decades, while the city’s skyscrapers are conducive for creating frigid wind tunnels. Summers are typically hot and humid. Flood risks have increased, with portions of the city located in flood zones. Direct hurricane hits aren’t common, but Superstorm Sandy caused widespread damage in 2012, particularly in the Rockaways, Breezy Point, Coney Island, Brighton Beach, Red Hook, lower Manhattan and Staten Island’s south shore. In response, the city has restored and reinforced coastal areas by adding dunes and floodwalls. Continuing projects to combat storm surges and reduce erosion are planned.
Overall crime rates are down and gun laws are strict
NYPD stats have shown a remarkable decline in crime for the past few decades. Some areas with the highest violent and property crime rates include the South Bronx, East Harlem in Manhattan, Jamaica and Rockaway in Queens and Brownsville and East New York in Brooklyn. New York has some of the strictest gun laws in the country.
Billions allocated to long-term capital strategy plan
In addition to investing in climate change projects, NYC plans to alot $165 billion over the next 10 years to improving everything from transportation and infrastructure to parks and facilities. Some of the largest long-term projects include the Gateway Program, which will add much-needed tracks for trains heading into Penn Station, and the Interborough Express, a plan to connect parts of Queens and Brooklyn that lack close proximity to a train line. A controversial congestion pricing plan began in January 2025 to help address clogged streets and fund public transportation projects like the subway system.
Stuyvesant High School in Battery Park has a long history of notable graduates.
The Bronx High School of Science is a launching pad for academic careers.
The entrance to Fiorello H. LaGuardia High School is on West 64th Street.
Frank Sinatra School Of The Arts High School in Queens was founded by Tony Bennett in 2001.
A lifelong New Yorker and former corporate litigator, Sonal has over 20 years of experience in sophisticated real estate transactions. She brings finely-honed real estate instincts and business acumen to every transaction, combining ingenuity and resourcefulness with a deep focus on each client’s specific needs. She delivers thoughtful, efficient, and no-nonsense service and advice to sellers, buyers and investors alike.
Her experience, expertise, and engaging personality make Sonal the perfect combination of advisor, advocate, and strategist. She is the proud owner of several NYC properties and a skilled negotiator with a deep understanding of people and sharp instincts about market trends.
Before transferring her skillset to the world of real estate advisory and brokerage, Sonal was a commercial litigator at two prestigious international law firms. She has served as an independent legal advisor on financing and sales transactions, and has represented coop and condo boards, real estate developers, financiers, hoteliers, small businesses, individuals, and families in New York City throughout her career. She lives with her family in Manhattan and is actively involved in the local community through her work on non-profit boards and government councils.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
