New York Real Estate Is Hot, But It Has Its Short Comings

The New York real estate market is one of the most sought after in the country — if not the entire world.  Whether in the heart of the city or just outside, people are willing to pay millions of dollars to hold on to a piece of the city that never sleeps. While the money is definitely nothing to sneeze at, many believe that they’re certainly getting what they pay for. Of course, the location is key, but New York also boasts some very beautiful real estate with plenty of amenities and a chance to live right in the lap of luxury. However, while New York real estate comes with more than its fair share of perks, it also has its short comings. In fact, some people are in such a rush to call New York home, that they get a little too ahead of themselves.

Well-known actress, Naomi Watts, has recently opened up about her experience buying a home in the city at the start of her career, and she’s pointed out some very interesting things. After purchasing an apartment unit in the city, Watts, quickly realized that she mad a mistake. In an interview with Architectural Digest, Watts stated, “I had no idea deals here moved that fast. After I closed on it, I showed it to my mother, who is a bit of a bohemian—and a super-talented decorator. She walked in and said, ‘This is horrible. No soul. No character. It’s a businessman’s apartment.’ I was crushed. But she was right.” Watts sold the place quickly, and like many other people who move to New York, she found herself wanting one thing: space. Although most people know that space in New York City is hard to come by, many don’t understand just how difficult it is until they get there. According to Watts, “With New York real estate, you never get everything you want.” However, despite her initial struggles, Watts realized that if you want something in New York, you have to create it yourself. As a result, she and her husband, Liev Schreiber have managed to find the perfect place for their family, and have learned plenty of lessons along the way.

(Photo by Spencer Platt/Getty Images)