Back HomeNeighborhood Profile: Upper East Side
The Upper East Side has been a booming market for both renters and buyers alike as the neighborhood becomes more popular among young professionals and young families.
When the Manhattan market expands uptown, more residents move with the flow of trending investments. The past 15 years have seen a large growth in the prices of Upper East Side condos of approximately 119% (1). One of the largest trends seen today are renovated building with unobstructed views of the city as the New York skyline continues to evolve. For example, Corcoran just closed a deal on a renovated apartment with “striking unobstructed views of the cityscape and Chrysler Building” (4).
Photo Via Corcoran
Properties are becoming available for future residents to customize and make for themselves. There have become condos and townhouses alike to build from the ground up. One of the main appeals to new buyers are the unique features that properties have to offer, like the lot on 73rd street that has indoor court and curbside capabilities. (3).
Prospective residents are not only relocating from apartments within Manhattan, but also from suburbs within and outside of the tri state area. One couple who moved from Virginia invested in a place on the Upper East Side, not only for rate of return purposes, but also because But “at the end of the day, it’s the emotion that just hits you the right way” (2). Buyers turn to the Upper East Side because of the residential feel that it provides: the accessibility to good education, the proximity to Central Park, and that classic New York feel.
Written By Kylie Keller
(1) NY Curbed
(2) NY Times
(3) NY Post
(4) Watson International Realty
