My wife and I have recently been relocated to Manhattan and are in a temporary living situation. We really want to buy and I would like to get some input on neighborhoods. I know this is very much a personal taste type of thing, but was hoping some folks that know the city could at least help narrow it down for us. We don't want to engage a broker right now and want to spend some time in the... [more]
My wife and I have recently been relocated to Manhattan and are in a temporary living situation. We really want to buy and I would like to get some input on neighborhoods. I know this is very much a personal taste type of thing, but was hoping some folks that know the city could at least help narrow it down for us. We don't want to engage a broker right now and want to spend some time in the neighborhoods before we get serious. Would appreciate opinions based upon these key points.
- budget $1.4M
- would like a two bed two bath
- would like a condo but don't want new development. pre-war ok
- wife and I are early 30's
- like to go out but not really into "the scene" like home to be in a quiet (but not dead) area but easy to get to the hot spots in town
- want to have a kid soon and remain in the city
- focus is on Manhattan
- I work in Midtown and my wife in Chelsea
Any thoughts on neighborhoods both good and bad are appreciated.
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Response by aifamm
about 18 years ago
Posts: 483
Member since: Sep 2007
For a young family focusing on "clean", growing potential into schools and parks I would say check out Central Park and then: Upper West Side, Upper East Side, Battery Park City and Harlem (go see if you're comfortable).
If you're more into location, then I like Chelsea or Tribeca, but 1.4M will be tough to find something right now, but it depends on size of 2BR.
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Response by nba
about 18 years ago
Posts: 89
Member since: Oct 2006
Check out the area north of Flatiron - high 20s - low 30s between 5th and Park Ave South. You can still get prewar Condos with great fixtures and/or ameneties for you budget. Also, the area is still very up and coming so you may benefit from accelerated appreciation given its still somewhat a fringe location compared to UWS or Tribeca.
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Response by Columbus
about 18 years ago
Posts: 132
Member since: Apr 2007
From your descrition, you all are classic Upper West Siders. In prime Upper West Side (60s-low 80s), you will get about 1,100 square foot condo for $1.4 million. For high 80s-110s, you might get 1,400 square feet. You should also check out West 110th to West 123rd on both sides of Morningside Park (Morningside Heights and Central Harlem): prices there are substantial lower; the Harlem side is only about $650 per square foot, so you could get over 2,000 square feet and step up to a 3Br/ 2.5 bath.
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Response by starfish
about 18 years ago
Posts: 249
Member since: Jul 2007
West 100's near Riverside and West End Avenue is a great place for a young family. Puts you in walking distance of Central and Riverside Parks and there are plenty of schools for kids. At that price, you will get a biggish 2BR (1200+ sq ft.) or possibly a 3BR (likely with a maid's room as 3rd BR). Plenty of restaurants and amenities and great as long as you don't need to be in a super fancy/hip local. Whole Foods is rising in 98th and Amsterdam also. Easy commute to Chelsea on the 1/2/3 and pretty easy to midtown. Much better value than UWS in the 70's 80's, but not as clean. Lived in both and prefer the 100's all things considered. Also lived in far UES and Murray Hill, but not as good for parks, which is key for kids. Good luck.
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Response by MMAfia
about 18 years ago
Posts: 1071
Member since: Feb 2007
Looking to Buy? You should be looking to rent and wait until the smoke clears from the ongoing financial crisis. Why buy at the peak when you can rent and then buy more house for the same money in a year or two? Unless, of course, you believe the story that real estate in Manhattan will never go down and will never be impacted by the ongoing housing collapse around the nation and the rapidly unfolding Wall St. crisis.
Next to go: Prince, CEO of Citigroup via the weekend axe.
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Response by aboutready
about 18 years ago
Posts: 16354
Member since: Oct 2007
I agree with MMAfia. There is virtually no possibility that your target (a reasonably sized two bedroom) will incease in price (in the neighborhoods you may want). Wait.
The Gramercy area is great for kids, and for parents who aren't into the upper (west and east) scene.
Good luck.
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Response by grunty
about 18 years ago
Posts: 311
Member since: Mar 2007
Agree with Starfish. Look into 100's (all the way up to 116th) near Riverside. Great schools, great parks, easy commute to Chelsea and Midtown. It's not really 'hip', but it's terrific for kids and you'll get more bang for your buck. For 1.4 you'll get a really nice 2 bed/2 bath or a 3 bed/2 bath that needs some renovation. As you get closer to Columbia the vibe is a nice blend of students, academics, professionals, etc.
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Response by JuiceMan
about 18 years ago
Posts: 3578
Member since: Aug 2007
Goodness. Nothing like pissing in a buyers cornflakes eh? MMAfia, suppose you are right and the market corrects more than it already has. What percentage do you believe it would correct? 5-10%? Condos in prime UWS or Gramercy? Not going to happen. How long would you have him wait? 1 year? 2? Did you read his post? He wants to buy, have a kid, etc.
superfreak, if you have a reasonable time horizon, find what you like and buy. Don't listen to MMAfia or aboutready - aboutready would buy in a heartbeat if she found what she wanted and MMAfia is a serial renter who has missed more upticks than a blind man watching a heart monitor. The market "may" correct slightly (I think it already has), but if you buy in a good area you will be fine. I think the posters above have given good advice on location, UWS and Gramercy are great.
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Response by stealth1
about 18 years ago
Posts: 271
Member since: Feb 2007
aboutready is too busy "analyzing" - she doesn't have time to buy.
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Response by Mhillqt
about 18 years ago
Posts: 405
Member since: Feb 2007
you should check out historic murray hill....east34 thru east 39 between madison and lex....very quite on weekend and close to everything.....
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Response by aboutready
about 18 years ago
Posts: 16354
Member since: Oct 2007
Oh stealth1, I've got hours and hours of time. I can overanalyze, blog AND plan my next foray into the real estate market. I have plenty of time to buy, I'm only waiting for my time. I've had the same amount of time three times before, and I've managed to buy each time (but this time OH NO, SAID THE NAYSAYER).
Also, stealth1, numbers are numbers. Sometimes they don't need much in the way of analysis at all. If I were to throw ... for ..., I might attack you personally.
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Response by aboutready
about 18 years ago
Posts: 16354
Member since: Oct 2007
Hey Superfreak,
Sorry for our descent into dysfuntional behavior. Many of the neighborhoods are great for chldren, some not so great for their parents (depending on personality). I think that you'll luckily have more choice than some, so go roam around. Downtown is GREAT for moms.
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Response by superfreak
about 18 years ago
Posts: 2
Member since: Nov 2007
No need to apologize for behavior, I found the posts informative and entertaining. Thanks much to all of you for taking time to weigh in, very helpful.
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Response by stealth1
about 18 years ago
Posts: 271
Member since: Feb 2007
superfreak - Mhillqt is right - Murray Hill is worth checking out - the first apt. I ever bought in Manhattan was in the Carlton Regency on East 36th St. It is a GREAT full service building and at your price point you could get a large 2BR or even a duplex apt. I have traded up many times since owning there, but it was a great investment and the building has held its value. The area is very convenient to everything - just not a "hot" or "happening" neighborhood in any sense.
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Response by diBonaventura
over 16 years ago
Posts: 1
Member since: Jun 2009
Anyone live at the Carlton Regency?
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Response by Downtownster
over 16 years ago
Posts: 140
Member since: Mar 2009
superfreak - we pretty much agree with what everyone is saying (including renting for awhile, just to check the neighborhoods out). Downtown, Battery Park probably has the best infrastructure for kids (parks, schools, wide stroller-friendly streets, many of your neighbors will have small kids etc.) but not much to do for adults and the monthly carrying costs could be a killer (although sales prices are quite reasonable these days). Even though you said you're not too interested in new construction, I'd still peek into the Riverhouse, which is a solid building where you might be able to get an "OK" deal for $1.4M (they haven't moved any units in awhile and are about 75% sold).
Bryant Park is also convenient to Chelsea and midtown and extremely central.
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Response by lo888
over 16 years ago
Posts: 566
Member since: Jul 2008
Oh - this post is 19 months old...
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Response by nyc10022
over 16 years ago
Posts: 9868
Member since: Aug 2008
"Goodness. Nothing like pissing in a buyers cornflakes eh? MMAfia, suppose you are right and the market corrects more than it already has. What percentage do you believe it would correct? 5-10%? Condos in prime UWS or Gramercy? Not going to happen."
'/%3e%3c/g%3e%3c/svg%3e)
For a young family focusing on "clean", growing potential into schools and parks I would say check out Central Park and then: Upper West Side, Upper East Side, Battery Park City and Harlem (go see if you're comfortable).
If you're more into location, then I like Chelsea or Tribeca, but 1.4M will be tough to find something right now, but it depends on size of 2BR.
Check out the area north of Flatiron - high 20s - low 30s between 5th and Park Ave South. You can still get prewar Condos with great fixtures and/or ameneties for you budget. Also, the area is still very up and coming so you may benefit from accelerated appreciation given its still somewhat a fringe location compared to UWS or Tribeca.
From your descrition, you all are classic Upper West Siders. In prime Upper West Side (60s-low 80s), you will get about 1,100 square foot condo for $1.4 million. For high 80s-110s, you might get 1,400 square feet. You should also check out West 110th to West 123rd on both sides of Morningside Park (Morningside Heights and Central Harlem): prices there are substantial lower; the Harlem side is only about $650 per square foot, so you could get over 2,000 square feet and step up to a 3Br/ 2.5 bath.
West 100's near Riverside and West End Avenue is a great place for a young family. Puts you in walking distance of Central and Riverside Parks and there are plenty of schools for kids. At that price, you will get a biggish 2BR (1200+ sq ft.) or possibly a 3BR (likely with a maid's room as 3rd BR). Plenty of restaurants and amenities and great as long as you don't need to be in a super fancy/hip local. Whole Foods is rising in 98th and Amsterdam also. Easy commute to Chelsea on the 1/2/3 and pretty easy to midtown. Much better value than UWS in the 70's 80's, but not as clean. Lived in both and prefer the 100's all things considered. Also lived in far UES and Murray Hill, but not as good for parks, which is key for kids. Good luck.
Looking to Buy? You should be looking to rent and wait until the smoke clears from the ongoing financial crisis. Why buy at the peak when you can rent and then buy more house for the same money in a year or two? Unless, of course, you believe the story that real estate in Manhattan will never go down and will never be impacted by the ongoing housing collapse around the nation and the rapidly unfolding Wall St. crisis.
Next to go: Prince, CEO of Citigroup via the weekend axe.
I agree with MMAfia. There is virtually no possibility that your target (a reasonably sized two bedroom) will incease in price (in the neighborhoods you may want). Wait.
The Gramercy area is great for kids, and for parents who aren't into the upper (west and east) scene.
Good luck.
Agree with Starfish. Look into 100's (all the way up to 116th) near Riverside. Great schools, great parks, easy commute to Chelsea and Midtown. It's not really 'hip', but it's terrific for kids and you'll get more bang for your buck. For 1.4 you'll get a really nice 2 bed/2 bath or a 3 bed/2 bath that needs some renovation. As you get closer to Columbia the vibe is a nice blend of students, academics, professionals, etc.
Goodness. Nothing like pissing in a buyers cornflakes eh? MMAfia, suppose you are right and the market corrects more than it already has. What percentage do you believe it would correct? 5-10%? Condos in prime UWS or Gramercy? Not going to happen. How long would you have him wait? 1 year? 2? Did you read his post? He wants to buy, have a kid, etc.
superfreak, if you have a reasonable time horizon, find what you like and buy. Don't listen to MMAfia or aboutready - aboutready would buy in a heartbeat if she found what she wanted and MMAfia is a serial renter who has missed more upticks than a blind man watching a heart monitor. The market "may" correct slightly (I think it already has), but if you buy in a good area you will be fine. I think the posters above have given good advice on location, UWS and Gramercy are great.
aboutready is too busy "analyzing" - she doesn't have time to buy.
you should check out historic murray hill....east34 thru east 39 between madison and lex....very quite on weekend and close to everything.....
Oh stealth1, I've got hours and hours of time. I can overanalyze, blog AND plan my next foray into the real estate market. I have plenty of time to buy, I'm only waiting for my time. I've had the same amount of time three times before, and I've managed to buy each time (but this time OH NO, SAID THE NAYSAYER).
Also, stealth1, numbers are numbers. Sometimes they don't need much in the way of analysis at all. If I were to throw ... for ..., I might attack you personally.
Hey Superfreak,
Sorry for our descent into dysfuntional behavior. Many of the neighborhoods are great for chldren, some not so great for their parents (depending on personality). I think that you'll luckily have more choice than some, so go roam around. Downtown is GREAT for moms.
No need to apologize for behavior, I found the posts informative and entertaining. Thanks much to all of you for taking time to weigh in, very helpful.
superfreak - Mhillqt is right - Murray Hill is worth checking out - the first apt. I ever bought in Manhattan was in the Carlton Regency on East 36th St. It is a GREAT full service building and at your price point you could get a large 2BR or even a duplex apt. I have traded up many times since owning there, but it was a great investment and the building has held its value. The area is very convenient to everything - just not a "hot" or "happening" neighborhood in any sense.
Anyone live at the Carlton Regency?
superfreak - we pretty much agree with what everyone is saying (including renting for awhile, just to check the neighborhoods out). Downtown, Battery Park probably has the best infrastructure for kids (parks, schools, wide stroller-friendly streets, many of your neighbors will have small kids etc.) but not much to do for adults and the monthly carrying costs could be a killer (although sales prices are quite reasonable these days). Even though you said you're not too interested in new construction, I'd still peek into the Riverhouse, which is a solid building where you might be able to get an "OK" deal for $1.4M (they haven't moved any units in awhile and are about 75% sold).
http://downtowny.blogspot.com
Bryant Park is also convenient to Chelsea and midtown and extremely central.
Oh - this post is 19 months old...
"Goodness. Nothing like pissing in a buyers cornflakes eh? MMAfia, suppose you are right and the market corrects more than it already has. What percentage do you believe it would correct? 5-10%? Condos in prime UWS or Gramercy? Not going to happen."
Wow, THAT is funny.