More and more, Midtown attracts families

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

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

arrow_forward_ios
Frank Lloyd Wright with 1425 Valley View Drive (Getty, Re/Max)
Unique Frank Lloyd Wright home available … for now
Unique Frank Lloyd Wright home available … for now
A photo illustration of the Arizona Ghost Town Museum in Pearce, Arizona (Getty Images, Facebook/oldpearcepottery)
Night at the museum: Ghost town general store turned-home lists at $1M
Night at the museum: Ghost town general store turned-home lists at $1M
Ben Simmons and Olympia Dumbo (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images and Olympia Dumbo)
Fortis’ Olympia Dumbo lures Brooklyn Nets star
Fortis’ Olympia Dumbo lures Brooklyn Nets star
Fredrik Eklund and John Gomes (The Society Group, 53w53)
Eklund-Gomes couples 53W53 open house with magazine launch
Eklund-Gomes couples 53W53 open house with magazine launch
Alec Baldwin with 335 Town Lane (Getty, Hampton Real Estate)
Alec Baldwin bailing on Amagansett estate
Alec Baldwin bailing on Amagansett estate
OKO Group’s Vlad Doronin and the Aman New York at the Crown Building (Getty Images, Aman New York, Google Maps/Aman New York)
TRD Pro: The most expensive Manhattan homes sold in August
TRD Pro: The most expensive Manhattan homes sold in August
Golub’s Michael Newman and Azur Cos' Joseph McMillan Jr (Golub & Company’s, Studio Scrivo, SCB)
New York developer pivots Chicago tower project
New York developer pivots Chicago tower project
Disappearing starter homes
New York City’s incredible shrinking starter home market
New York City’s incredible shrinking starter home market
arrow_forward_ios

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

Loading...