Upper East side Vs Midtown

Depending on what you are looking and what you are trying to get out of it. If you have young children, I vote for UES since it has great schools and close to the park. If you are single, young professional looking for something while the RE market is low and plan to trade up later on, I would vote for midtown.

If you have young children you are planning on having in the apartment, its not an investment. Once again, owner-occupied real estate is not an investment, by definition.

If you are looking for the biggest potential for appreciation, one prices stop falling, UES should prove to be a much better bet. Mainly because it is currently VERY out of favor and torn to shreds (2nd ave subway) yet has always had some of the biggest pros of all neighborhoods (there is a reason it was historically the most expensive neighborhood in NYC... and it doesn't have to be to still have major room to grow). People avoid it like the plague right now, but when the subway is done, things like park access, the architecture, the schools, (most of) the restaurants, the pretty streets will all still be there, and likely more so.

and, of course, Museum Mile and all the other cultural attractions, don't know how I left that out.

By midtown, do you mean the western fringes of Hell's Kitchen, or do you mean Beekman Place?

By UES, do you mean real UES (5th to not-quite Lexington), or do you actually mean Yorkville, the former working-class area? Or the lower fringes of East Harlem, for that matter?

The question is way too broad. Give specific blocks.

Yeah, it really depends on the blocks here. And the UES is not nearly as out of favor as stated above (see: http://ny.curbed.com/archives/2010/06/30/george_stephanopoulos_and_family_buy_65_million_ues_coop.php among others). Most blocks west of Lex are still extremely pricey, and while the 2nd Ave subway will help values someday, it also probably won't be ready for another 8+ years. Something to consider anyway. Midtown has some surprisingly nice blocks and then some that I wouldn't live on if you paid me.

> By UES, do you mean real UES (5th to not-quite Lexington), or do you actually mean Yorkville, the
> former working-class area?

Either.... the prime stuff is selling cheaper than comparables downtown... and yorkville is probably the cheapest area south of 96th...

UES west of lexington avenue has always been a good investment relative to the NYC mkt overall

UES east of lexington hasnt been a good relative investment for decades--too much continual new construction supply, fueled by tax-abated development

the 2nd avenue subway may cause such serious distressed selling of nearby apts that, if one can hold a cheap purchase until the time of completion of the subway (if it ever gets completed), it could prove to be a good investment--i wouldn't consider buying there--

the 2nd ave subway has little to do with the UES west of lexington--UES west of lexington will always perform well realtive to the rest of the market--little or no new

if you have kids, midtown is a nightmare
UES, near the park and many great schools (mostly private), is a great place to raise kids; esp carnegie hill

80's from 1st to east end ave. have some of the nicest townhouses around. Carl Schurz park w/ Gracie Mansion is a beautiful park. I love Yorkville...slice of small town USA in the UES.

Wbottom, I get what you're saying, but it really depends (doesn't it always?) on what you mean by good investment. West of Lex probably holds value better (too lazy to actually dig up data on this, so take that fwiw), and yet I don't see much upside there. It's already an enclave for the wealthy, and I don't see much that's coming there that would really boost values significantly. East of Lex is a different story, since as you say, the SAS could help values in the long-term. That risk is precisely why it might be a good investment. Or a bad one. It really depends on how confident you are in the city/MTA's ability to come through (finally). If you're just looking for a home for yourself (and not a true investment), you could do a lot worse than either parts. But again, going block by block is more helpful.

you know youre right, marco
over by carl schurtz etc is quite nice--tough transport to other parts of the city tho--great if you have girls at the good private schools over there

disagree bjw--UES west of lex will always perform at least as well as most rest of manhattan

3rd 2nd 1st aves will be cheap if you catch the bottom during the 2nd ave subway mess, and if you can wait to sell til they finish

> UES west of lex will always perform at least as well as most rest of manhattan

Can't be true.

Based on that logic, it should be getting further and further more expensive relative to the rest of Manhattan (if it always equals or bests growth, it will grow significantly faster than the general market over that term).

And it hasn't.... downtown caught up, and surpassed it.

"over by carl schurtz etc is quite nice--tough transport to other parts of the city tho--great if you have girls at the good private schools over there"

And the rule of thumb was 30% below what it would be west of lex.
If the subway can bridge that gap.... could be interesting.

theres also not an irish pub to be found west of lex...ill stay east thanx.