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  • Writer's picturePatti Cordasco

Wealthy New Yorkers are Fleeing Manhattan and Need Somewhere to Go

Robert Frank, award-winning journalist, leading authority on the American wealthy and host of Secret Lives of the Super Rich, noted a recent trend among some of New York's wealthiest residents - a move out of the city and into surrounding suburbs and exurbs. It's not news to anyone that Manhattan has been hit the hardest by the Coronavirus, not just in the United States, but in the world. And while most everyone has been mandated to work remotely, the need to be in the city just isn't there right now.

Those who are fleeing the city are looking for one of two things - a rental that will provide more space both in and around the home with at-home recreation options like a pool and basketball court, or a second home to purchase with thoughts of spending less time in the city even after the immediate health crisis has abated. Regardless of whether they're looking to rent or buy, the most requested amenity is, you guessed it, a home office.

You can read the full article here. If you've been waiting to list your home until the health crisis is over, you may want to reconsider. Inventory is currently low which would provide your home with good exposure. Call me at 609.240.8332 if you'd like to discuss the current market or to find out what your home's current market value is.


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