New York City real estate is more than an investment—it’s a legacy. For many families, purchasing a property for a child attending school or starting their career in the city is a smart, forward-thinking move. But before you sign the dotted line, there are a few essential factors to consider to ensure your purchase sets both you and your child up for long-term success.

As one of Compass’s top-producing real estate agents specializing in luxury New York City real estate, I’ve guided countless families through this unique journey. Here’s what you need to know before buying real estate for your child in NYC.

1. Define Your Long-Term Real Estate Goal

Before beginning your search, get crystal clear on your objective. Is this a short-term solution while your child is in school or starting their career? Or is it a long-term hold you plan to keep in the family?

• Short-term investment: Focus on properties with strong resale value and high rental income potential. Neighborhoods near major universities or business hubs can be ideal.
• Long-term investment: Look at areas with strong appreciation potential, ongoing development, and amenities that will continue to support your child’s evolving lifestyle. Think Upper West Side condos, Chelsea co-ops, or Brooklyn brownstones—neighborhoods where long-term value grows over time.
  

2. Can Your Child Manage the Property?

Ownership in NYC goes beyond paying a mortgage. There are monthly maintenance fees, property taxes, and inevitable repairs or renovations. The question is—who’s going to handle these responsibilities?

• If your child isn’t ready to manage the day-to-day, consider hiring a reputable property manager or be prepared to step in yourself.
• Build a realistic plan and budget so there are no surprises once the keys are handed over.
  

3. Location Matters More Than You Think

Even if the apartment isn’t perfect, the location can make or break your child’s NYC experience. Evaluate how well the neighborhood fits their day-to-day life.

• Is it near their school, office, or internship?
• What’s the commute like?
• Are there essentials nearby—grocery stores, fitness studios, green spaces, and social spots?
  

Sometimes, the best investment isn’t just about square footage—it’s about how well the location supports your child’s lifestyle, independence, and safety.

Want to learn more about what it take to successfully launch in New York? Access my team’s guide here for a full breakdown – or give me a call at 917.566.6644.