Interested in a new home? Although we have no apartments on the market at the moment, there’s plenty to explore in Hudson Heights. Come visit and become familiar with the neighborhood, because competition among buyers in Uptown is fiercer than in the rest of Manhattan as demand only increases for co-ops and condos from Lower WaHi to Inwood.
In fact, there isn’t enough Uptown housing, and the number of new apartments grew at the second-lowest rate in Manhattan in the decade ending last year. (Download the study, at the end of this paragraph.) Only 644 new housing units were added, with the help of Inwood activists who have successfully fought against new apartment developments. That’s good news for sellers, and if you’re one, remember that we can put a link to your listing on this page. Scroll down to fill out the form.
So if you haven’t visited Hudson Heights, you still need to decide which New York neighborhood is right for you. Here’s some information about ours.
Are you looking for your home to be in a welcoming spot? Our neighborhood is the kind of place people don’t want to leave. While the pandemic year saw an exodus of urban residents across the country, Hudson Heights and Fort George, our neighbors across Broadway, saw the smallest net loss of residents in Manhattan. Only 11 in 1,000 residents,, or 1,626 people, decamped in 2020. By comparison, Inwood and Lower WaHi lost 15 per 1,000 residents, and Sherman Creek and Upper Fort George lost 19 per 1,000. The spots with the biggest population decreases were Midtown, Lower Manhattan, and Northern Brooklyn. Read the details here.
That’s one reason demand for apartments here remains hight, with the finite number of co-ops essentially unchanged. By contrast, about a quarter of condo apartments built since 2013 remained on the market in 2019, and the number of condos being offered for rent, once unheard-of, is more than 4,600. Condos in WaHi have about 37 percent vacancy, which is tiny compared to the Lower East Side: 68 percent vacant. Apartments in the Pinehurst, by contrast, rarely stay on the market for longer than a matter of weeks.
Maybe you still need a few reasons to explore our neighborhood. The New York Times found some when it mentioned Hudson Heights as a place to find a great apartment, and wrote up the neighborhood too. Here’s a slide show from The Times that highlights neighborhood views.
Why buy in The Pinehurst? For one thing, our high rate of live-in owners means that the building is maintained and improved by its residents, the people who live in it every day.
For another, the Furman Center for Real Estate and Urban Policy at New York University reports that real estate value in Washington Heights surpassed the city average after the recessions of 1980-89 and 1996–2006. Only seven other neighborhoods in the five boroughs can make that claim, and not all increased as much as WaHi: up 30 percent in the five years ending September 2017, beating the average increase in Manhattan by 1.5 percentage points. In the decade ending in 2006, prices here jumped 333 percent, and in the eighties by 241 percent.
If you’re a renter now, you may save by owning your home instead of paying rent. Use this rent-or-own calculator to find out. And when you own, you get another beneft: he portion of owners’ maintenance fees that was tax deductible in 2019 was 53 percent; contact your financial adviser for details.
Compared to other neighborhoods in Manhattan, our maintenance fees are below average to boot. So if you’re looking for a property that will return value, skip the Village, the Upper West Side and Murray Hill. Visit an open house at The Pinehurst and make your investment now.
A home is more than an investment of money, of course. It’s also an investment in life, a place where you’ll know your neighbors and they’ll know you.
We nurture a sense of community with parties in the lobby and trick-or-treating for the children at Halloween. Our garden is nurtured by residents’ green thumbs. With more than three dozen apartments, storage space and a fitness center, we’re a popular destination for apartment buyers in Hudson Heights.
Board of Directors
447 Ft. Washington Owners’ Corp.
447 Ft. Washington Ave, Apt. 68
New York, NY 10033