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Business
Education & Real Estate
By
Marsha Mack Frances
New
York City provides some of the country’s most sought after residential
real estate and educational opportunities. The correlation between
an information age, in which education is increasingly valued,
and rising real estate prices in New York City is striking. New
York’s great University centers—Columbia, NYU, Fordham, Rockefeller
and City University—are magnets to the best and brightest people.
The great medical, law, arts, engineering and business schools
of New York draw some of the most talented professors and students
in the country. Moreover, the City’s private schools are among
the nations most selective, most sought after and most effective
at graduating high achieving students who gain entry to top colleges.
For families where cost is not a limitation, the attractions of
the best educational, cultural and job opportunities lead to even
higher real estate prices for optimal locations, such as the Upper
East Side, which has the highest concentration of excellent private
and public schools. Neighborhoods surrounding these schools have
had recent surges in real estate prices. For example, Morningside
Heights has become fashionable with Columbia’s rising prestige,
and Greenwich Village’s proximity to the increasingly hot schools
at NYU has further enhanced values there. At the high end there
are spectacular views, gorgeous interior lobbies, health clubs,
doormen, concierge services and fabulous apartments that make
New York living extremely desirable.
For students and teachers at those institutions without school
sponsored housing, the living choices are often less than luxurious.
Some students and teachers are willing to settle for a walk-up
or tight quarters or a shared apartment.
It is tough for those getting started and who do not yet have
large incomes. Just as investing in college and graduate school
can enhance learning opportunities, purchasing an apartment in
New York is an investment that can lead to accrued wealth, since
the city has a limited number of great apartments and a growing
number of people wishing to benefit from all the city has to offer.
For
further information on how to buy or sell your New York apartment
call Marsha Mack Frances at Douglas Elliman (212) 650-4829.
Education Update, Inc., P.O. Box 20005, New York, NY 10001. Tel:
(212) 481-5519. Fax: (212) 481-3919. Email: ednews1@aol.com.
All material is copyrighted and may not be printed without express consent of
the publisher. © 2001.
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