Even if you haven’t ever visited the Big Apple you probably have an idea what it’s like from movies and TV shows. New York, New York is a great retirement community if you love culture and a bustling scene.
New York City (8,000,000 people) is made up of 5 boroughs, plus suburbs. Manhattan is of course the most famous and the most expensive borough. For proximity to more cultural and social activities than a person could do in a lifetime – New York is THE place. Adults use NYC as a retirement community, full or part-time, either because they lived here while working, or because they moved here for the experience. One advantage is not needing a car in Manhattan. The buses and subways and mass transit are great, walking is always an option, and taxis abound (at least when it’s not raining). For someone from a small town, it will take a few days to feel comfortable amidst the noise and bustle. The city has never been safer, it's crime rate continues to improve. Social services are strong, For many active adults, living at New York City is all about the rich cultural environment. New Yorkers are informed, they share their opinions, and they are active. It is the thinking retiree’s version of paradise. On the downside New York,, and particularly Manhattan, is ultra expensive. For profiles on over 900 cities and towns go to reviews of the best retirement communities
Watch this short Youtube video prepared by Lonely Planet:
Where to Retire in New York and Home Prices
There are plenty of independent and assisted living facilities. Some naturally occurring retirement communities (NORCs) in New York include Bay Ridge (Brooklyn) where 1 bedroom apartments can start at $250k. Forest Hills (Queens) is pricier and nicer. Tudor City is in Manhattan and also a NORC. Apartments less than $500,000 are scarce. The median selling price of a home in the 4th quarter of 2020 in the New York-Newark-Jersey City NY-NJ-PA area was $502,5 according to NAR. In Manhattan and the nicer parts of Brooklyn, however, a 2 bedroom apartment will probably cost close to $1 million. Some active adults might consider buying or renting a small studio apartment.residence as a part-time residence in the city. There are some cooperative hotels that you might also consider – when you are not living there you can rent it out.
What Is Special about New York
• Being in the center of the universe • Non-stop culture – Broadway, lectures, dance, opera, music • New York’s parks are magnificent • Mass transit – no need for a car • Restaurants for every taste and budget – never eat in the same place twice • Diversity • Everybody is a philosopher
What Is Not Special about New York
New York City, particularly Manhattan, is expensive; have to like to live in a big, some times smelly city; summers are hot and oppressive; golf is very poor in Manhattan
Who Will Like Retirement in New York
People who like to think, talk, walk, go out, and eat, live an exciting life. Use this link for a page that explains the various types of retirement communities. For more information about how to retire in New York
Local Economy Is Driven by
Big business, tourism, hospitality, you name it
Climate and Physical Environment
New York City is situated on the flat Atlantic Coast of New York. Manhattan is an island surrounded by the East River and the Hudson River. There are many waterways and inlets in the area.
Restaurants & Cultural Scene
No need to comment here- "The Big Apple" is the apex of American culture.
Crime
New York is a major city, so there is crime. However, that rate is down and one almost always feels safe there.
Medical Facilities
Choose from some of the most famous medical facilities in the world.
Transportation
4 big international airports are a short cab ride away. The subways are noisy but reliable and fast. Busses are everywhere. This is one city in America where a car is a definite liability. Bike lanes added in recent years, as well as more pedestrian-only streets in Manhattan, have been very successful additions to the cityscape.
One that we know about is The Lombardi, which is near Bloomingdales. Quite expensive, but very nice. Search on Google for others. An interesting alternative to buying a place and having it sit idle for most of the year. Rented out as hotel when you are not there.
Posted by admin on October 26, 2015
Cooperative Hotels
Does anyone have any information on cooperative hotels in NYC?
Posted by Tomfromsc on October 25, 2015
New York in General
Here is the place to ask a question or post an opinion about retirement living in this state. Or start a new thread on a specific topic. Here is a link to what it is like to retire in New York - http://www.topretirements.com/state/new_york.html
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