Homes near a Trader Joe’s realized an average home seller ROI of 51 percent, compared to homes near a Whole Foods with an average home seller ROI of 41 percent and ALDI at 34 percent. The average home seller ROI for all zip codes with these grocery stores nationwide is 37 percent.
How does this play into NYC real estate? Do you agree with the ROI mentioned above?
When the Chelsea Mercantile was in pre-sales 20 years ago, a big draw was a new grocery store chain called “Whole Foods” was opening its first NYC store on the ground level. It was a major selling point.
Buying real estate in Manhattan and Brooklyn is not just about the property. Rather, it is the percieved lifestyle that comes with owning a property. Trendy grocery stores are a big part of that lifestyle.
Who cares if most New Yorkers don’t actually cook at home (the best use of an oven is for shoe storage). It’s the idyllic dream that you could...get fresh, well-priced (or not so well priced) food on the way home from work and host a casual-elegant dinner party that evening. We all know the reality is ordering in after coming home late from work..hoping to stay awake long enough for the food to be delivered.