Should I buy an apartment in a prewar or postwar building?
Formerly known as New Amsterdam after Dutch settlements of the 1600s, New York City has some structures that were built even before the Revolutionary War. However, the era of World War II remains the definitive epoch by which the distinct periods of real estate history are separated, according to industry standards.PREWAR BUILDINGS: PROS AND CONS
Prewar apartments are known for their charm, which is expressed mainly through architectural detail. They tend to have higher ceilings, larger rooms, detailed moldings and fixtures, cozy fireplaces, parquet floors, and separate rooms for servant's quarters, dining rooms, and pantries.
But charm doesn't come cheap. Since top-end prewar buildings are in limited supply, they tend to command significantly higher prices. Also, aging appliances, water stains, old plumbing and wiring, and low water pressure tend to come with the territory. Keep your eyes peeled for potential money pits.
POSTWAR BUILDINGS: PROS AND CONS
Most postwar apartments come fully loaded with amenities. Features such as new appliances, gyms, party rooms, pools, housekeeping and valet service, and sunroofs are postwar signatures. Apartments in postwar buildings tend to vary more in size, structural flexibility (convert that dining alcove into a second bedroom, perhaps?), and layout than those in prewar buildings. But while postwar buildings are stocked with modern conveniences, they lack the charm and detailing that characterizes prewar buildings.
Either choice - prewar or postwar - is a fine choice. In fact, some of the more recent developments have been built to resemble prewar structures, featuring as they do intricate details and an overall feeling of elegance, catering to those who desire the best of both worlds.