Forthcoming Avenues school brings young families to West Chelsea

New York /
Feb.February 14, 2012 09:00 AM

Young families are flocking to West Chelsea, an area developers had originally pegged more for socialites than strollers. Thanks to the High Line, a relatively affordable downtown location, and most especially, the forthcoming Avenues World School the demographics have bucked expectations, the Wall Street Journal reported.

In 2011, 102 apartments with at least three bedrooms sold in the neighborhood, north of 19th Street between 10th and 12th avenues, compared to just seven such apartments five years earlier. Much of that increase can be attributed to the increased options for large apartments, as new construction proliferates around the High Line. Further, there’s a generation of young parents who covet downtown Manhattan but can’t afford to live in the city’s priciest neighborhoods, Soho and the Village, and settle for the grittier, less expensive option.

But the for-profit, 1,600-seat Avenues private school, located at 10th Avenue and 25th Street, with a tuition of $40,000, is the main draw. “All the schools on the Upper East Side are all long-standing institutions, which not only have long-standing cultural [norms], but have dated facilities,” said Benjamin Yogel, who moved to the area from the Upper East Side with his wife and three-year-old son. “This is a brand new state-of-the-art school that doesn’t have any legacy issues.” [WSJ]


Related Articles

arrow_forward_ios
NY governor Kathy Hochul and 550 West 20th Street (Getty, Google Maps)
State raises shuttered Chelsea jail for supportive housing redevelopment
State raises shuttered Chelsea jail for supportive housing redevelopment
Milos Raonic and 470 West 24th Street in Manhattan (Getty, iStock, Sotheby's Realty)
Tennis star’s Chelsea penthouse hits market for $10M
Tennis star’s Chelsea penthouse hits market for $10M
Inside the rent roll at Chetrit’s 26 Broadway
Inside the rent roll at Chetrit’s 26 Broadway
Inside the rent roll at Chetrit’s 26 Broadway
90 Greene Street, 2328 12th Avenue, and 165-15 to 165-18 88th Avenue (Google Maps)
Columbia expansion powers mid-market deals to $245M week
Columbia expansion powers mid-market deals to $245M week
Vornado leasing 77K sf to school in 825 Seventh Avenue
Vornado leasing 77K sf to school in 825 Seventh Avenue
Vornado leasing 77K sf to school in 825 Seventh Avenue
School’s still out but Construction Authority buys in Brooklyn
School’s still out but Construction Authority buys in Brooklyn
School’s still out but Construction Authority buys in Brooklyn
From left: 3761 and 3769 10th Avenue in Inwood, 16 Dupont Street and 427 West 52nd Street with Mayor Bill de Blasio (Getty, Google Maps)
City agencies grease the wheels of investment sales
City agencies grease the wheels of investment sales
A rendering of
Justice Avenue Tower
in Elmhurst
Charter school expansions pick up amid pandemic
Charter school expansions pick up amid pandemic
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...