Investment and Lifestyle Spur Migration Back to NYC
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By Liz Gehringer hat do open borders and current migration and lifestyle trends mean for a real estate landscape as multifaceted as New York City?
The Great Migration The nation’s metropolises are welcoming back millions to their bustling streets. Coldwell Banker Global Luxury’s annual “A Look at Wealth” report found that urban repatriates are one of luxury real estate’s top new “Power Players,” representing 1,647,110 properties owned by the affluent, with $5M+ in net worth in downtown cores. This group is returning to the urban lifestyle. Thanks to profound lifestyle changes, including telework, NYC is more desirable than ever as leaders from across the globe seek a presence in this world capital, and buyers look to 54 December 2021 RISMedia’s REAL ESTATE
live in a place that provides ready access to lifestyle choices and interesting experiences outside of work. On November 8, the United States opened its borders to fully vaccinated travelers. As tourism picks up the pace, so too will interest in international real estate investment. As the epicenter of international investment, New York City is no stranger to big real estate deals. It is also home to 8.8 million homeowners and renters. Coldwell Banker’s expansive network of brokers and agents in NYC, touching all corners of the globe through a referral network, delivers uniquely helpful service for clients.
Deep City Roots It takes a vast network of professionals with specialized local knowledge to serve as the ultimate global gatekeepers to this sprawling city. The Coldwell Banker influence touches all five boroughs as well as Long Island, representing something special for each consumer who aims to call New York City home. The Coldwell Banker brokerages are not only interwoven into the fabric of their communities, but they are also as diverse as the neighborhoods and hamlets they serve, ensuring representation across all market segments. Starting from the eastern edge of Long Island, Coldwell Banker Beau Hulse Realty Group specializes in the Hamptons. Coldwell Banker’s strong presence continues across Suffolk County with powerhouse companies like Coldwell Banker M&D Good Life, Coldwell Banker Distinctive Homes and Coldwell Banker Easton Properties. Coldwell Banker has extensive roots in the neighborhoods of Nassau County and Queens, including Coldwell Banker American Homes, Coldwell Banker Kueber in Glendale, Coldwell Banker Phillips in Middle Village, Coldwell Banker Na-
