The Real Deal New York

More and more, Midtown attracts families

Pushed out of more traditionally family-friendly Manhattan neighborhoods, transplants enjoy ditching their commute

May 10, 2014 12:00PM



WEEKENDEDITION Maligned by some New Yorkers, Midtown Manhattan – with its flocks of tourists and cold office exteriors – is becoming an option for families.

As more New Yorkers choose to live where they work, Midtown is increasingly on families’ radars when shopping for a home.

“More parents are bringing their children so that they don’t have to commute and they can actually pop in and see their kids during the day,” Carole Bloom, a vice president at Manhattan Skyline, a landlord and developer, told the New York Daily News. “There are always kids sitting on the stairs with their nannies at lunch waiting for their parents coming home from work.”

And compared to more traditionally family-friendly Manhattan neighborhoods, Midtown is a relative bargain.

The median price for a two-bedroom co-op in Midtown was $1.1 million in the first quarter of the year — up from $988,000 in the same quarter last year. The median price of a condo was $1.66 million — up from $1.4 million in 2013, according to Pete Culliney of CityRealty.

Now compare that to the median price for a two-bedroom condo downtown: $2.28 million. [NYDN]Christopher Cameron