The Staten Island Real Estate Market Will Continue to Grow
Although Staten Island has been treated like the proverbial stepchild by New York City officials for many years, the success of its real estate market in the past decade has been a true Cinderella story. Residents of other boroughs who previously contended that Staten Island is not really part of New York are flocking there in droves. Companies, too, are establishing or increasing their presence and visibility on the island.
Staten Island, NY (PRWEB via PR Web
Direct) June 1, 2005 -- Naysayers, beware. As homeowners around the country
lose sleep over the housing bubble, Staten Islanders are laughing all the way to
the bank. Although Staten Island has been treated like the proverbial stepchild
by New York City officials for many years, the success of its real estate market
in the past decade has been a true Cinderella story. Residents of other boroughs
who previously contended that Staten Island is not really part of New York are
flocking there in droves. Companies, too, are establishing or increasing their
presence and visibility on the island.
Elad Kushnir, a real estate expert
and CEO of Best Home Properties, Inc., a Staten Island real estate development
company, cites some interesting facts:
- In the past decade, Staten
Island has had the highest population increase of all of NYC
boroughs.
-The cost of living in Staten Island is the lowest of all NYC
boroughs. This has and will continue to encourage increased migration into the
island.
-The recent down-zoning of many Staten Island lands will decrease
the supply of housing on the Island, consequently maintaining or even increasing
home prices.
“I am confident that these factors will provide the market
with sustaining power over a long period of time,” Kushnir says. In fact,
Kushnir is so convinced of Staten Island's future success that he has increased
his company's investment in the island. BHP recently acquired a plot of land on
120 Montgomery Ave. in Saint George. With the multi-million dollar renovation of
the Staten Island Ferry, the neighborhood of Saint George, like the rest of the
borough, is experiencing a sharp increase in property values. A fast, free and
convenient commute to Manhattan is one important contributing factor in the
rising of property prices in Saint George.
The plans for the Montgomery
project include the development of three two-family townhouses. These houses
will be built to suit the needs and lifestyles of the “Manhattanites” –those who
live on the island but commute to Manhattan for work.
Salvadeo
Associates Architects, one of Staten Island's leading architectural design
firms, will lend their expertise to the design phase of this project. 120
Montgomery Ave. is now in its development and planning stage, with final
architectural plans scheduled to be completed by the end of June
2005.
About Best Home Properties, Inc.:
Best Home Properties, Inc.
(BHP) was established in 2002 by Elad Kushnir and Tal Goldstein, two seasoned
veterans in the field of real estate. BHP specializes in acquiring,
rehabilitating and reselling distressed properties. More information is
available at www.besthomeproperties.com
About Elad
Kushnir:
Elad Kushnir is the Chief Executive Officer and co-founder of
Best Home Properties, Inc. Additionally, Kushnir acts as the company's CFO,
dealing with all aspects of financial management and planning for the company.
Prior to establishing Best Home Properties, Inc., Kushnir was the
Manager of Online Development for the Isram Group of Companies, a multi-million
dollar business headquartered in NYC, with operations on all six continents.
During his three years at Isram, Kushnir oversaw the successful development and
operational integration of three travel websites.
Kushnir received his
Bachelor of Arts at Columbia University in New York
City.
Contact:
Traci Petersen, BHP, Inc.
718-273-7777
e-mail
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www.besthomeproperties.com
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Source : http://www.prweb.com/releases/2005/6/prweb246554.htm