More and more, Midtown attracts families

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

TRD New York /
May.May 10, 2014 12:00 PM

 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

Related Articles

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

56 Leonard Street (Credit: iStock)

He invested more than $130M into 4 Manhattan condos. Now he’s taking a hit

Due to relatively high income levels and low transportation costs, New York City is the eight most affordable of 20 major cities (Credit: iStock)

NYC is the 8th most affordable big city in America*

53 West 53rd Street, 885 Park Avenue, 70 West 45th Street (Credit: StreetEasy)

Five priciest homes to hit the market last week all over $22M

118 East 76th Street and Developer Joseph Chetrit (Credit: Google Maps and Getty Images)

Manhattan luxury home market off to worst start in seven years

Mayor Bill de Blasio (Credit: Getty Images)

De Blasio to test brokers, owners for housing discrimination

Buyer sentiment was strong at the close of 2019 (Credit: iStock)

Home buyers start 2020 with drop in mortgage rates