The uptown crowd is moving downtown — and developers are definitely noticing

Young parents are snubbing Park Ave

A porte cochere entrance in 70 Vestry provides residents with privacy and a marble-clad bathroom
A porte cochere entrance in 70 Vestry provides residents with privacy and a marble-clad bathroom

From Luxury Listings NYC: Is Downtown the new Uptown? One group of buyers apparently thinks so. Drawn by a slew of amenity-rich buildings, as well as the relatively new Avenues school in Chelsea, young parents are no longer fleeing to Park Avenue once they have children, preferring to remain in their Downtown neighborhoods. And empty nesters, who may have lived Uptown while their children were growing up, are also frequently choosing Downtown as the place to live out their new chapter.

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“A lot of People Who Would Have Purchased On Park Avenue and Fifth Avenue are really purchasing Downtown,” said Darren Sukenik, a broker at Douglas Elliman who specializes in Downtown real estate and was one of the chief sales agents at the celebrity-filled building 150 Charles in the West Village.

“We joked in the showroom and said that our foreign buyer was literally Park Avenue and Fifth Avenue. That was as foreign as we got,” he said. [more]

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