Real Estate Wire: A Portfolio of Parking Lots Worth $250M; Upgrades Planned for Grand Central Get Flack

Since the pandemic, it’s become increasingly expensive to put down roots in New York City. According to data from CityRealty, condo prices are the highest they've ever been, increasing 16 percent since July 2020, while co-ops have jumped 6.4 percent over the same period. Many people are even being priced out of rentals; Douglas Elliman's Jonathan Miller reported earlier this year that the average monthly rent in New York City is now roughly $5,194—more than a mortgage payment in many places. And it’s this financial conundrum that often becomes the impetus for many young professionals and families to relocate to the suburbs. They can get more space and a yard, access to beaches and hiking trails, and send their kids to public schools without a second thought. But what’s the best place to achieve this small-town fantasy? For that answer, we turned to the pros. Ahead, hear from real estate experts about the best commuter suburbs outside New York City.
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