Closest STR market to NYC

[Nancy G.]

I am interested in buying a property near NYC for STR. What are the closest markets where it is still legal? I have family in Westchester, northern NJ and Long Island. Would love to find a place central to those 3 spots that I could rent nightly when I am not there. NYC is the obvious central point but the restrictions seem to be covering northern NJ and most of Westchester now. Ideally we'd still be within an hour of NYC in any direction, with a public transit option to Manhattan. Thanks in advance for tips!!

[Shawn Mcenteer]

Hi @Nancy G. STR can be tough with the law changes that are frequently happening. So most of my clients implement and STR strategy with the option to MTR as back up. What's great abut this is MTR is very tough to get shut down by local municipalities and believe it or not North Jersey attracts a huge verity of people looking for mid term whether its through work, moving or extended traveling. But to answer question STR has worked great in towns with close proximity to train lines. I have clients who will rent to business professionals Sunday- Thursday then people escaping NYC Friday & Saturday. You have potential to get a good mix with low vacancy year round.