The spectacular views and high-quality amenities are unsurpassed. Buyers are increasingly prioritizing waterfront views, even if it necessitates a longer trip to the subway.
Another neighborhood benefitting from ferry access is Astoria. Once a hidden gem, it has become a more popular and affordable living option for those wanting proximity to Manhattan.
Dennis Laronga, a Corcoran agent, emphasizes how closeness to the ferry has lured many residents from both Manhattan and Brooklyn markets to Astoria seeking better amenities and residential space.
Astoria’s appeal is enhanced by its five-minute ferry ride to the East 90th Street station, making it a popular choice among healthcare professionals from Mount Sinai, Lenox Hill, Cornell Weill, and Tisch Hospital.
The Rockaways, known for its beautiful beaches, have transformed the commuting experience as well thanks to the ferry. Corcoran agent James Armstrong notes that many visitors prefer the ferry for its scenic journey rather than using the often unreliable subway.
“The ferry has positively impacted both lifestyle and real estate,” he states, observing an increase in values just a few years after its introduction.
Armstrong indicates a pattern in rising property values, with towns once priced in the low $400,000s now seeing sales around $1.2 million, driven by ferry accessibility and increasing demand.
There are numerous upcoming developments in the Rockaways too, including The Tides at Surfer’s Beach and the expansive Arverne View complex, along with new luxury condos like One Sixteen.
Looking ahead, experts agree that while ferry schedules can be limiting, the overall trend is positivity for property values in neighborhoods close to ferry stops.
Griffith reiterates, “As the city looks to expand and improve ferry services, we will likely see rising prices in areas with ferry access. As with any real estate market in New York, increasing accessibility draws attention, which is significant for strategic buyers.”
Ferry proximity will undoubtedly continue to be a critical factor in demand and pricing in the evolving real estate landscape of New York City.
image source from：6sqft
