Have you ever dreamed of having a pied-à-terre in New York City? My husband and I lived in NYC in the 1980’s and early 90’s and left the city for Atlanta literally kicking and screaming. We were young, clueless and turns out my husband (who was an on-air reporter for CNN) had signed a contract that said, “We have the right to move you anywhere in the world.” (Note to self: when young and clueless, read the employment contract before signing).

Turns out we weren’t clueless with real estate.  Barely in our twenties, we’d purchased a loft in Soho on Wooster Street for a terrific price. Leaving that loft for a “tudor bungalow” in Atlanta was no easy mind-set shift. We were young parents and by the time we had three children in tow, we decided to stay in Atlanta and eventually sold the loft in SOHO for good. (Small Sob – still hurts) 

It took us getting our three kids through college and selling my business to eventually return to New York City and get a place we could call our own. In 2025, we became official NYC pied-à-terre owners. 

Pied-à-terre:  Definition: quaint French term which refers to  residence, as an apartment, for part-time or temporary use.  Etymology; French phrase which directly translates to “foot on the ground.”

Pied-à-terre also usually means small – often studio style apartment. We had a bit of practice with pied-à-terre living during the pandemic. While most New Yorkers were desperately trying to escape the city, we took over the lease for a tiny apartment on the Upper West Side from my cousin. It was funky and bohemian and you can read about how we fixed that place up here. We were essentially apartment bound, crammed into 350 square feet and it was magical.  The world felt like it was falling apart around us, but we somehow fell back in love with New York City. We spent hours wandering Central Park, bought our food at the outdoor farmers market, stayed in, and made a cozy little nest.

When the lease on our rental pied-à-terre ran out, we decided it might be time to invest. We’ve had success with investment properties before—but let’s be honest, investing in New York City is a completely different kettle of fish.

Guide to Buying a Pied-à-terre in New York City

We learned a lot along the way, so hopefully this serves as a guide to what you should know before buying a pied-à-terre in New York City.

Co-Op Versus Condo? 

• Know what you’re buying. In New York, that usually means choosing between a co-op and a condo—and the difference matters. Co-ops are far more common in Manhattan and typically have stricter financial and approval requirements.
• Familiarity can help. We ended up buying in the same building where we had rented, which turned out to be a huge advantage. We already understood the building’s quirks, and the co-op board knew us—a helpful head start in a process that can otherwise feel like applying to a very exclusive club.

NYC Building Rules on Pied-à-terres

• Check the pied-à-terre rules. Many co-op boards simply don’t allow them. Some buildings prefer full-time residents and discourage apartments that sit empty for long stretches. If you’re working with a broker, make sure they know your plans from the start.
• Understand the sublet policies. A pied-à-terre implies occasional use, but if you’re thinking about renting it out when you’re not there, read the rules carefully. Many co-ops have strict limits on subletting—and Airbnb is almost always off the table.

What’s a Pied-à-terre Going to Cost me in New York City?  

• I’d love to say price isn’t an issue—note to self: where did I hide that private trust fund? Pied-à-terres usually fall into the studio category. They’re hardly a bargain, but by New York standards they can be relatively attainable. After all, if you can afford to live in Manhattan, why choose a one-room apartment where the kitchen is the size of a closet and overlooks your bed?

Embrace small if you want to try pied-à-terre living.  

• Embrace small. Personally, I love tiny spaces. Remember when David and I lived in our little red camper for four months? After decades in houses large enough to accommodate my big family, I’ve happily become a “less is more” kind of person.
• Look at the monthly maintenance—first. In a co-op, maintenance fees include real estate taxes and can be substantial—sometimes even higher than your mortgage payment. The more amenities a building has (think doormen, gyms, roof decks), the higher those monthly costs tend to be.
• Fall in love with the building, not just the apartment. As a co-op owner, you and your fellow shareholders share responsibility for major repairs. Is the elevator in good shape? What about the roof? Are the bricks due for repointing? Big building expenses can quickly send monthly maintenance through the proverbial leaking roof.
• Check the building’s energy grade. Every residential building in Manhattan receives an energy efficiency rating. Ideally, you want an A student. A building with a lower grade—say a D—may soon need costly environmental upgrades, and those costs eventually land on the owners..

Location, Location, Location

• Need I say more? We fell head over heels for the location of our rental—on 64th Street on the Upper West Side, just steps from Central Park West. Being a stone’s throw from the park means we’re there every day, rain, shine, or snow. And the proximity to Columbus Circle gives us access to seven subway lines, making it easy to zip anywhere in the city.
• Safety matters. Our street on the Upper West Side is well lit and relatively quiet, which was important to us. We chose a building without a doorman—my thinking was, who needs the extra expense or the extra eyes? That said, many people prefer doorman buildings for the added security—and there’s something to be said for a friendly Albanian doorman who’ll carry all your packages. (Fun fact: a surprising number of New York doormen are Albanian.)

Legal and Tax Implications 

• When my CPA heard we were spending time in our rented pied-à-terre during Covid, she called and practically shrieked, “Exactly how many days are you spending in New York?” Coming from my usually level-headed accountant, that shriek sent a shiver down my spine. Turns out, she had a point. Spend more than 183 days in NYC as an apartment owner and the city considers you a statutory resident—which means paying taxes to both New York State and New York City.  We live in Georgia most of the year and, trust me, you’d much rather pay taxes there than in New York. So I keep a meticulous log of every day we spend in the city—and make sure we never even flirt with that 183-day line.

Spend more than 183 days in NYC as an apartment owner and you’re a statuatory resident and can be taxed as a New Yorker. 

Timeline

• Brace yourself for the co-op board process. Getting approved feels like a cross between an IRS audit and a colonoscopy. We filled out a 65-page application, submitted five letters of reference, and handed over just about every financial document known to mankind. The form didn’t just ask where we went to college—it asked about our children’s colleges, too. Luckily, our family can claim three Ivy League degrees (none of them mine). Fortunately, we weren’t buying into a stuffy Upper East Side building where pedigree and a Social Register mention might be prerequisites.
• Our building turned out to be a wonderfully eclectic mix—theater directors, opera singers, an ex-cop, and a few attorneys. I’m told that at one point a singer from the California Raisins lived here. I’d love to hear it through the grapevine with him, but he’s probably long gone.
• Planning to renovate? Read the building rules carefully. Manhattan buildings take renovations seriously. You can’t just hire your cousin Daryl to knock down a wall and install a new toilet. Contractors must be licensed, insured, and approved by the building. Renovation plans typically need board approval, and construction happens only during strict hours—with plenty of rules about when you can (and cannot) use the elevator.

Our Sweet Pied-à-terre on the Upper West Side

We bought our sweet pied-à-terre because it was supposedly “move-in ready.” That description turned out to be…optimistic. The apartment came with dramatically outdated floral drapes and hardwood floors hidden beneath wall-to-wall carpet. No problem, we thought—we’ll pull up the carpet, give the floors a quick polish, and move right in. Our son-in-law kindly ripped up the carpet, revealing hardwood floors that looked promising—at least in the corners. Unfortunately, the floors had been sanded so many times the nails were starting to show.

Then there was the expensive sisal wallpaper. Elegant at first glance, but once we looked closer we noticed water damage and a general dinginess that couldn’t be ignored. In other words, we fell squarely into the classic renovation trap known as “while you’re at it.” Contractors love this phrase. I wouldn’t call the apartment a money pit, but we definitely spent more on renovations than we planned. And once we were already on the “while-you’re-at-it” train, we figured we might as well add our own whimsical stamp to the place.

Our new apartment sits on the sixth floor, and before long we started calling it “the nest.” William Morris bird-patterned wallpaper in the living room and bathroom adds a touch of aviary inspired charm. I didn’t tackle the decorating alone. My friend Sasha Emerson—interior designer by day and theater dramaturge by night —helped pull it all together. She encouraged us to go festive with the lighting and suggested a mod black Schoolhouse mirror in the entryway to add depth.

We chose a soft, creamy beige for the walls so the tiny apartment would feel light and airy throughout. The previous owners had installed beautifully crafted built-ins, which we happily kept—updating them with playful Anthropologie knobs, adding a few extra shelves, and having my husband mount the TV.

The result? We think a perfect little nest for the few months every year (never more than 183 days!) that we spend in New York City.

Addendum:  I don’t really rent my sweet little pied-a-terre out but I try to make if available for friends and family who visit New York City.  My friend, journalist and writer, visited the nest this autumn and made this terrific video.