What You Can Get For Your Money – The Neighborhoods of Manhattan

The rules  of the game here in Manhattan are very different from any other place. Therefore, doing your homework and finding the right broker for you are very important. Our job is to help you determine what kinds of apartments and neighborhoods are suitable for you, and to guide you in regards to the property price, in order to select the best match for your real estate needs and budget.

1)   Upper West Side

There is varying architecture on the Upper West Side. Brownstones and townhouses line Broadway and doorman buildings are found along West End Avenue. Riverside Drive buildings have a beautiful Hudson River view. The landmarks on the Central Park West are: the Beresford, the San Remo, the Majestic, etc. There are many shops that can be found along Broadway, which makes it a great weekend hang-out.

The average price for a condo here is $1,034 per square foot. The price for a co-op is about 20% lower. The price per square foot is depending on location, apartment and building condition, size, and building amenities, etc. Click on Upper Westside Neighborhood — Synopsis & Price at Today Real Estate Market. for more info.

2)   Upper East Side

Upper East Side is the home of billionaire and Mayor Michael Bloomberg’s Gold Coast townhouse. Beyond that, the neighborhood is just steps from Central Park, where many fine museums and shops are situated. It is a very nice neighborhood to live in.

The average price for a condo here is $989 per square foot. The price for a co-op is about 20% lower. The price per square foot is depending on location, apartment and building condition, size, and building amenities, etc. Check on New York Real Estate Market – General & Prices of Manhattan Upper Eastside for more info.

3)   Midtown

On the West side of Midtown, new developers have moved in and built many luxury condos and rentals. The prices in these new buildings are far more reasonable than further uptown. The area formerly known as Hell’s Kitchen is today sometimes referred to as the community of Clinton. This doesn’t mean you can find a bargain price everywhere, either. There are plenty of the properties priced in the millions, such as in the east toward the Empire State Building and in the north towards to Time Square.

A neighborhood known as Murray Hill is situated in East Midtown. It has drawn new residents to the area, as there are max living options, condos, co-ops, brownstones, towers and well-maintained apartment buildings.

A source report dated 8/31/2010 shows that the biggest difference in prices in Midtown are for condos. The average price for condo here ranges from $900 – $1,066 per square foot. The price for a co-op is about 20% lower. The price per square foot is depending on location, apartment and building condition, size, and building amenities, etc. Check on Midtown – Manhattan neighborhood overview for more info.

4)   Chelsea

Chelsea is located at between West 34th Street to West 14th Street, and stretches from Avenue of the Americas (6th Ave) to West Hudson River. It is New York’s gallery district neighborhood and the fashion-design central. East of Ninth Avenue, there were many warehouses; today it is a stunning landmark of townhouses, pre-war co-ops, and new rental buildings. The price per square foot further uptown, from West 30th street, provide more bang for your buck. 7th Avenue, also called Fashion Avenue, is where FIT College is located and also where you can see many beautiful garments being unloaded for numerous garment shops. Also, Macy’s flagship store is located at 34th Street and 7th Ave, in an area known as Herald Square, where the shoppers can get some bargains from. The Empire State Building, Madison Square Garden and Penn Station are also in the area.

The price of a co-op in Chelsea for studios for maintains/cc is under $600, and for square footage around 400, you could find the price as low as $320,000 on today’s market.  The average price for a condo here is $1,149 per square foot. The price for a co-op is about 20% lower. It is also depending on location, apartment and building condition, size, and building amenities, etc.

5)   Greenwich Village

Greenwich Village always attracts many young adults. From NYU to Washington Square Park, from crowded cafes to noisy bars, you can see college students and twenty-year-olds everywhere. It is perhaps the hub of culture in Manhattan.

The average price for a condo here is $1,149 per square foot. The price for a co-op is about 20% lower. The price per square foot is depending on location, apartment and building condition, size, and building amenities, etc. Check on Greenwich Real Estate – Manhattan Neighborhood Overview for more info.

6)   Soho

Soho stretches from the south side of Houston Street to Vestry Street, and from west to east, the Hudson River to Broadway. It is a very fashionable neighborhood. You can find stores like Banana Republic, H&M, Zara, Club Monaco, and more. It is also the place you can find many voguish boutiques, swanky restaurants, high-end spas, etc. The buildings there are warehouses that have been converted into large working areas or living lofts. One thing for sure is that since the 1960s, when the artists changed the buildings into housing-lofts and created a more chic, luxurious living condition, the Soho area is now a more desirable place to live than ever.

The average price for a condo here is $1,205 per square foot. The co-op price is about 20% lower. The price per square foot is depending on location, apartment and building condition, size and building amenities, etc. Check on Soho — Manhattan Downtown neighborhood for more information.

7)   Lower East Side

When we talk about the Lower East Side, it refers to the area stretching from Houston Street to the Brooklyn Bridge, from Bowery to the East River. Once the world’s largest Jewish community, it has now become the destination for many shoppers seeking delicious food and bargains stores where you can score great prices.

South of Delaney, large co-ops and a few condos do exist. There are also some renovated pre-war walk-up buildings. On the northern side, there is still an area that attracts many renters. Developers and real estate investors have realized its potential already, meaning million dollars properties aren’t far behind. The average price for a condo here is $1,120 per square foot. The price for a co-op is about 20% lower. The price per square foot is depending on location, apartment and building condition, size, and building amenities, etc. For more info check on Lower East Side Real Estate – Manhattan Neighborhood

Manhattan Real Estate Market is very unique. The entire purchase process is different than anywhere else in the world. If you are interesting to have a FREE consultation, please contact me. View my profile and other properties and contract signed listings at: http://www.elliman.com/real-estate-agent/diana-wu/4623.

I have the privilege and pleasure to work with Avi Voda, Founder and Executive Vice President of The Voda Group at Prudential Douglas Elliman. The Voda Group has been the top, award winning sales team at Prudential Douglas Elliman since 2003. We pride ourselves as specialists in condominium and co-op sales in Manhattan.  If you have any question about Buy or Sell real estate in Manhattan, contact me directly Diana Wu at 516-320-0231 (cell) or email me at diana.wu@elliman.com.

Other useful topical:
5 Tips for Purchasing Real Estate in Manhattan
Manhattan Real Estate Glossary – Types of Rooms
• New York Homeowners: Sale your home at TOP Dollar
Tips for Staged the home Appeal to the Buyer

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• New York, Manhattan Neighborhood – some mistakes the 1st time buyers will make
• Manhattan Renters — Tips for Reinforce Credit Score to Buy your Dream Home
• New York Real Estate Market – General & Prices of Manhattan Upper Eastside
• Upper Westside Neighborhood — Synopsis & Price at Today Real Estate Market
• Midtown – Manhattan neighborhood overview
• Soho — Manhattan Downtown neighborhood
• Greenwich Real Estate – Manhattan Neighborhood Overview
• Lower East Side Real Estate – Manhattan Neighborhood
• New York City real estate – Pros & Cons – Condo vs. Co-op
• Manhattan Real Estate Glossary – the dish on Condos, Co-ops, Condops, Townhouse & Brownstone
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• Manhattan Real Estate – Now is the Best Time to Buy

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