Where should I buy?

another major consideration is schooling for your kids. What do you want from that..Any particular school district, or do they go private?

I'm surprised the Laurel is not on your list of favorite finishes, but two-beds are running around $2mm. You might take a look at the Windsor in Forest Hills, Queens ...

Bonne chance!

ali r.
{downtown broker}

Yep, Windsor in Forrest Hills is a wonderful building. 2 Br, 2 full bath (1270sq.ft or so) asking $860K - $940K
many amenities, restaurants, shopping, transportation, schools - everything is there.

elena
(broker)

Flushing is not that convenient to Manhattan. It does have, however, stellar Chinese food and easy access to the Mets and the US Open.

Look on the Upper West Side - The Ariel East and Ariel West.

Thanks, yes I have seen Ariel and I did not like the location, the laurel was a gorgeous building (but way way way overpriced in my opinion), I forgot to mention it. I thought Forrest Hills was a very residential area but not a vibrant place. I will have a look at the Windsor. Is Forrest Hills beautiful? What do ou think of Novo 64? My kids will go to private school in Midtown East if accepted otherwise I will need to have great public schools around my place. How about Williamsburg? I have just been around there on my way to Park slope but it looked really dirty but I only saw one street so... If it is a good place, the Edge sounds like a beautiful project. So hard to make up my mind.

Forest Hills is huge -- it's the brand name for a wide swath of Queens the way "Harlem" is a brand name for much of Uptown. The epicenter is Forest Hills Gardens, an English-style development that I think you would find sleepy -- but there's a lot of commercial activity on Austin Street near the subway, that's kind of a little downtown.

If you're looking for new, the Windsor is the newest condo in that area -- Novo 64 is more recent, but sort of in a no-man's-land between Forest Hills and Kew Gardens. . .you should check 'em both out, though.

ali r.
{downtown broker}

I would not buy in Flushing. What about the Rushmore? That is nice.

Novo 64 is in no man's land between Forest Hills and Rego Park. The center of Forest Hills is Austin St. which actually starts at the LIRR station which is like a block from Austin.

FrenchandUS--
"I thought Forest Hills was a very residential area but not a vibrant place."

Yeah pretty much.

But if you want clean and safe and do like the area make sure you look at Forest Hills that is zoned by PS 196 (Windsor should roughly be that area) for elementary. The public junior high and high schools (in that area Russel Sage and Forest Hills High) are good but tons of kids in the area go to public specialized schools like Bronx Science, Hunter, Townsend Harris which are free and some of the best schools in NY. A public school like PS 196 will have them well on their way and on the specialized track. Kew Forest is a great private school in the area if you want that option.

I would pass on Flushing.

Oops meant to say:

The center of Forest Hills is Austin St. and the Gardens actually start at the LIRR station which is like a block from Austin.

Sounds like you want your kids to go to the Lyceum. Why do you need to buy? There are amazing
deals on 3-bedroom freshly renovated apartments, doormen, bells and whistles in Midtown East.

^^ thanks Kimerama, my brain though "Rego Park" but I couldn't type it!

ali r.

Thanks to all for the information. I want to purchase a property for a long term investment (my husband is American so even if we will be in NYC for only a few years we may come back regularly) but Manhattan prices remain crazy when it comes to new developments. I think midtown is too busy for my kids (except Sutton area) and there is no way I can get space in Manhattan in my price range unless prices come down like... 50%.

If it was not a matter of money, I would definitely choose one of these beautiful UES new developments (255 East 74, Laurel, Lucida) but as I can not afford them (not now), I have to be reasonable particularly in this current turmoil. My kids would either go to Lyceum or to the French Lycee or not be accepted in any of these. Just checked info about Forest Hills and the Windsor and I must say that I did not like the finishes + Forest hills seems not to be vibrant enough for me.
Sounds like I will end up renting even if it was not my favourite option. BTW is it "Forest Hills" or "Forrest Hills"? I hope my English is not too bad.

Rent for a year if you can't find anything and then look again next year.

yes will probably do that but in this case will need to wait at least a couple of years because I will then need to build a credit history whereas today I can borrow in France based on my French status. In any case, from all the posts I read sounds like buing in 1 or 2 years will not really make a difference as the market is likely to recover very slowly right?

oui

Considering the recession we're in, I think it would be best to rent for a year or two in a neighborhood you want to buy in. That way, if the kids need to go to public school, you don't have to change districts. There's no possible way prices are going up in the next 12-24 months.

And I wouldn't touch the Rushmore with a 10 foot pole. Look what happened to 20 Pine. There're no way people are going to close on that building.

you should rent for sure. figure out where you want to live, get your kids settled in a school, and then think about a permanent home. the last thing you want to do is buy an apartment and realize you hate the area, hate the building, or can't get your kids to school, and then be stuck with it in a declining market.

positivecarry, I agree about the Rushmore. A ton of apartments listed as off the market. Developer offering all sorts of incentives, including financing, when the building was largely in contract. Not looking pretty one bit.

Frenchand US, if you find yourself here for more than a couple of years, don't worry, prices are not going up. Can you decide where you're moving to after you hear whether your children have been accepted? Midtown East isn't so bad, there are some new condo buildings that have rentals listed. Alternatively you might be able to rent in one of the UES buildings you can't afford now, it's not far from midtown.

Yes you're right, I must admit that renting is the wisest option. I like UES so I will try to find a great 2 bedroom in a nice building at an "affordable" price. Maybe Laurel, Lucida, 255 E 74 will have great deals in the coming months.

A client of mine put a $350,000 down payment on a unit at the rushmore in 2007. Luckily for her it's FU money.

It's "Forest Hills" with one "r." Votre anglais est meilleur que mon francais. :>

ali r.
{downtown broker}

Votre anglais est meilleur que mon fracais aussi.

Clearly much better because I can't even spell francais correctly...

If you are willing to live in a 20 year old building, this one is modern and family friendly, plus it is directly on Riverside Park in a child and dog friendly area. Not far from Ariel but worlds away in feel and south of 96th Street. The owners appeared to have bought it for investment, and have been discounting the price. It's a good building.

http://www.streeteasy.com/nyc/sale/328959-condo-222-riverside-drive-upper-west-side-new-york

"How about Williamsburg? I have just been around there on my way to Park slope but it looked really dirty but I only saw one street so... If it is a good place, the Edge sounds like a beautiful project. So hard to make up my mind."

FrenchandUS, je vous conseille de passer un peu plus de temps a Williamsburg, surtout autour de Bedford Avenue entre Metropolitan Avenue et North 12th Street. Pour l'instant, ca n'a vraiment rien a voir avec les coins les plus chics du Upper East Side, mais pour une famille jeune comme la votre, il ya qqs avantages - 1) beaucoup d'autres familles jeunes sont installees, et il y en a de plus en plus; 2) beaucoup de Francais et d'Europeens en general; 3) des parcs, cafes, boutiques a portee de main; 4) a 10 minutes du downtown de Manhattan. Sinon, je trouve le Upper West Side tres agreable comme quartier aussi, mais un peu moins jeune. Aucune idee ce que vous pouvez vous permettre en temps que prix, par contre, mais il y a assez de renseignments sur ce site pour vous faire une idee. Bonne chance!

Wow, je vous comprends! My high school French was useful for something.

There's a great building at the corner of 110 and Broadway above the west side market. Prices are in line with what you're looking for, and the building is both modern and family friendly. I live a block away and love the neighborhood. It doesn't have a lot of shopping, but the restaurants are good, and it's a much more pleasant area than around the Ariels east and west.

To newbieNY's suggestion: The building otherwise known as 110 + Bway has had a 2 bedroom listed for rent for over two years. I think they might be negotiable. There are no apartments listed for sale.

http://www.streeteasy.com/nyc/rental/108871-rental-2840-broadway-morningside-heights-new-york

I am really impressed by your French Fakeestate and bjw2103, I guess you're French right? I don't know if it's just me but I really think that Manhattan rental prices are really, really high for what you get. Almost 6000 dollars a month for a 2 bedroom that has nothing special. I can't imagine myself throwing that kind of money away for 2 years. How do people do? Honestly, I prefer to rend outside of Manhattan. I know everyone advises me to rent in the area I would love to buy so I can get a sense of the neighborhood but I don't think but renting in the UES is going to cost me too much for what I will get. I prefer to put my cash in a unit I would buy so I don't have too high monthly payments or rent in the outer boroughs.

I need a dynamic place so based on what I read I think I'm going to have a look once again at Williamsburg. And I love the idea of being in a European neigborhood. My only concern is how I am going to send my kids to schools. Is it doable by car or just a nightmare? I don't want them to be stuck in the traffic every day.

I must say that I fell in love with the Edge in Williamsburg, this development really sounds beautiful, but will not commit to anything right now. I hope they are going to lower prices so we can jump on one of their units. Maybe I am too optimistic as so far everything I hear is they are stubborn... Time will tell.

PMG, just checked at the link you put. It's interesting. I think prices have a long way to fall around Riverside boulevard / Riverside drive so this is definitely the kind of deals I will be looking at. The building sounds really nice. I like this kind of quiet, removed areas but still having everything at your fingertips. Well, maybe I will find everything to be too far in the winter, especially because winters are so cold around the river grrrr...

So far, based on your valuable inputs, my short list is :
- UES if I buy,
- UWS if I buy,
- Williamsburg for renting or buying at the Edge.

FrenchandUS, how old are your kids? What do they do after school? It won't necessarily be easy for them integrating into a new school in a new country, even if it is a school with a very high percentage of students from France or with parent(s) who are French. Cutting them off from social activities may make it more difficult for them to fit in, although not necessarily, you know your kids. I don't know how many students in those schools commute from out of the area, but I don't think it's a very high percentage.

positivecarry : " I agree about the Rushmore. A ton of apartments listed as off the market. Developer offering all sorts of incentives, including financing, when the building was largely in contract. Not looking pretty one bit."
I went there with my broker, was not convinced and she insisted saying it was a great place, great investment and they were doing well apparently not so well.

"Frenchand US, if you find yourself here for more than a couple of years, don't worry, prices are not going up. Can you decide where you're moving to after you hear whether your children have been accepted? Midtown East isn't so bad, there are some new condo buildings that have rentals listed. Alternatively you might be able to rent in one of the UES buildings you can't afford now, it's not far from midtown."
Will get the answers for the schools in a few days in February, this will be a great time to come to a decision.

Frenchandus, Have you looked in Carol Gardens or Cobble Hill? I think a much nicer neighborhood than W'burg and they close down Smith street and do a big Bastille day celebration. Great shopping, restaurants and a real nice neighborhood vibe. Just a couple of ideas...

http://www.halstead.com/detail.aspx?id=1675539
http://www.halstead.com/detail.aspx?id=1673906 (Fort Greene)

Thanks, in what way is Carol Gardens nicer? How long does it take from there to go to midtown Manhattan?

NYC10023 Where are the great deals on 3BR units in midtown east? Name of buildings?

Actually, to PMG's comment, there are two sales listings at the 110 and broadway listing. For some reason, Streeteasy has two building listings for the same building. If you go to the following link, you'll see the units in question.

http://www.streeteasy.com/nyc/building/545-west-110-street-new_york

FrenchandUS, I think there's a lot to like about the Edge, but it's very risky to go for it now and it certainly won't be ready until at least the end of this year. I don't know when you need to move, but if it's sooner, I would look at other buildings that are already completed or close to being done. I think you should also look at Cobble Hill or Carroll Gardens, as burkhardtgroup suggested above. I would not say it's "much nicer" than Williamsburg, but it is a more established brownstone neighborhood. There are some really good restaurants along and around Court and Smith Streets and a nice community feel as well (not to mention a pretty cool French hangout in Bar Tabac). The only "problems" there are that you won't find many modern buildings and you're completely dependent on the F train, which is slow and (in my opinion) significantly worse than the L (which gets a worse reputation than it deserves).

BJW I agree about the F v. L but you can live with it. Your description of the hood is right on, I just don't like Williamsburg other than a meal at Sea(off peak)-good mojitos.Also don't forget Robin du bois on Smith...good simple bistro food and a nice garden. Oh yeah Franky's 457 on Court...good eats as well.

Great, I actually move end of 2009 so in any case I am not going to buy anything right now and I agree it's too risky at this time.

slk view parc is the best for u ck it out Frenchandus