Carnegie Hill- pros and cons

Lots of other kids and hence playdates. That's what I love most of the area.

I meant the pros and cons of buying in this area (especially as compared to Riverside BLVd (220/240).

More centrally located than Riverside, very close to Central Park, great museums, lots of good private schools nearby. Many coops with prewar details and size (classic NY apartments.) In my opinion, one of the areas most likely to preserve relative value.

I looked at Carnegie Hill as well, but disliked the transportation there. It's nearly impossible to get a cab on 5th or on Park Ave in the morning, and the Lexington subway line is a mess - especially during the morning rush. If you work in midtown/downtown I think UWS is more convenient. Unless if you can walk to work. Or if you take car service everywhere ...

What about crime in Carnegie Hill? Whatd you guys think about the fact that the wealthiest zipcode in the state borders one of the poorest - is that likely to become a greater risk to the area again?

It's a quiet, upscale area, right by the park, so it's ideal for the right kind of family. There's probably more for younger kids on the UWS (just a semi-informed guess here), though Central Park at your doorstep is a pretty huge perk. As for transportation, it's not bad if you work in midtown actually - the buses going down 5th are great in the morning. I used to live in Lenox Hill and worked in Midtown and it was the best commute of my life. I miss it.

marcs, East Harlem is no longer the poorest zip codes and has gentrified a little over the years.

The poorest zipcode is now in the Melrose section of the Bronx. Still a desparity above 96th street, but not a complete "tale of two cities" scenario.