Parsons School of Design and New York University (NYU) share many housing options in Manhattan. However, with the rising cost of tuition and housing, it’s no surprise that many parents are opting to purchase a condo near Parsons rather than foot the bill for on-campus housing.
Buying a condo isn’t just a temporary solution to student housing. They make great investment opportunities or second homes for families after the school years are over. Not convinced yet? That’s okay, we’re here to help you out! Our award-winning team has been helping NYC buyers and sellers for over a decade. We know and love the area around Parsons and can help you find the condo of your (and your young student’s) dreams.
With our vast experience in this neighborhood, we’ve put together this helpful guide for you. With our help, you’ll be ready to buy a condo near Parsons and NYU in no time! Pretty soon, you’ll be enjoying all that New York has to offer in no time.
Why more parents are investing in condos near Parsons and NYU
Buy a condo? That seem extreme, no? Not really! It’s no secret that there’s more to the cost of a college education than books and classes. Housing alone can require parents to spend just as much annually as tuition, especially in New York City. With the high price tag for student housing, the amount spent over those four years adds up.
A student’s education is undoubtedly an investment. When it comes to housing, why not do the same? After those four years, you have nothing to show for the money spent on accommodations.
Unless, of course, you treat it as an investment as well!
Recouping housing costs
Student housing at Parsons School of Design can cost as much as $27,000 annually. Potential rent costs in the city could be even more. Many parents realize the most economic decision is investing in a condo that students can live in during their university tenure and perhaps even beyond.
You also don’t have to worry about finding a new rental year after year, paying for movers, and dealing with the hassle of relocating. Afterward, your family can continue to use it as a residence or you can rent it out and recoup some of those housing costs that you would have dumped into a dormitory.
To have a sense of home
You know what they say, there’s no place like home. Every year, Parsons School of Design and NYU attract students from around the world. Quite often, their success can be attributed to having a stable and familiar place to return to at the end of each day.
Not to mention, safety is a top priority in an unfamiliar city. Many apartment buildings near Parsons and NYU have a doorman, live-in superintendent, and other staff that keep track of the building’s comings-and-goings.
To make family visits for comfortable
Since we know a lot of students are not native New Yorkers, families travel into the city frequently for visits and university events. You’ll realize how beneficial owning a condo can be when you avoid the arduous search for a hotel or short-term rental, especially during move-in and graduation weekends.
Your stay in the city will be much more enjoyable in the comfort of your own home. Won’t it start to feel like home much faster if you’re able to consistently stay in the same neighborhood, enjoying your favorite meals and hangouts, and making memories with your children?
The attractive lifestyle of Greenwich Village
Culture abounds in this southern neighborhood on New York City’s island. Actually, Greenwich Village is one of Manhattan’s most famous and culturally-rich neighborhoods. It’s where popular musicians like Paul Simon and Bob Dylan began their careers. It’s always been known as a home to artists, activists, and cultural change.
The history in Greenwich Village is weaved into the fabric of America, but it’s very much alive with the diversity, community, and industry of today’s New York City. Lovingly called ‘The Village’ by locals, you’ll find it bustling with young professionals and college go-ers by day and endless entertainment by night.
A quick search on the internet and nearly every result will tell you this is the best spot in the city for people-watching. Many cafes and diners have outdoor seating and the iconic Washington Square Park is filled with performers, protestors, dog walkers, and chess players.
Since the 1800s, NYU has been a staple of The Village. Students still flock to this neighborhood because of the sense of belonging that lingers around every corner. Where NYU brings elements of a traditional liberal arts campus to the area, Parsons School of Design represents the modernism and artistic elements of Greenwich Village.
Here is a Custom Map that we have created that shows where the main campus is located for both NYU and Parsons and we’ve drawn a custom grid that shows you all the areas that are about a 15 minute walk to campus. You can see that a 15 minute walk to campus covers a lot of different neighborhoods.
The Purple Grid around the NYU icon represents about a 15 minute walk in any direction. You an see it covers a lot of different neighborhoods.
The Red Grid around the Parsons icon represents again about a 15 minute walk in any direction from the Parsons building at 66 Fifth Avenue.
Why you should consider Chelsea, Flatiron, and East Village
While Greenwich Village is the prime location for condos near Parsons School of Design and NYU, the surrounding neighborhoods can keep students within 15 minutes of campus.
Chelsea is the perfect downtown hub with desirable highrises and lots of transportation options. It’s a highly desired location with both new construction condominiums and pre-war art deco co-ops. There’s something for everyone here.
The Flatiron neighborhood takes its name from one of the most distinguished buildings in NYC – the Flatiron Building at 23rd St and Fifth Avenue. This is the very center of downtown Manhattan, so it’s often a destination with everything just minutes outside your door.
East of Greenwich Village is the aptly named East Village neighborhood. While Chelsea and Flatiron take a more traditional approach to downtown living, this artsy neighborhood dances to the beat of its own drum. It’s home to mostly pre-war buildings but has seen a lot of new construction over the last 10 years. The East Village is a great place to look for New Construction Condominiums.
Pricing
The cost to purchase a condominium near Parsons or NYU can vary depending on your desires. The great thing about this area is that there is a mix of old and new. Knowing which buildings make the best long term investments is important if that’s what you’re striving towards.
We’ve put together a one stop shop for everything you need to know about studio’s and one bedrooms for sale in the Greenwich Village area. This guide gives you a high level understanding of everything you need and want to know about pricing, this really is a Must Read.
Studio
Most parents look into studio and one-bedroom condos because of the price point. Most range from 400 square feet to 550 square feet and are therefore a more affordable option. We can help you explore both established and new buildings with available studio apartments, but these won’t last on the market long. Studio pricing will start around $800,000 in Greenwich Village, if you want a more entry level price point we recommend to look in the surrounding neighborhoods that are within the 15 minute distance to both Parsons or NYU.
One-bedroom
One-bedroom condos offer more comforts and conveniences than a studio apartment, including more space, which is an amenity in NYC. On average, these will be listed at about $400,000 more dollars than a studio.
Two-bedroom
This is one of our most popular inquiries from parents purchasing a condo. Two-bedroom condos near Parsons and NYU have the most opportunity to be used as investment properties or second homes after your child finishes school.
Ready to Start Looking for Condos near Parsons or NYU?
As the school year approaches and you’re ready to start searching for a condo in NYC, we’re here to help guide you through the buying process from start to finish. Give us a call at (917) 837-8869 today.
