Various Types of New York City Residential Ownership
Posted by reptilemind on May 10, 2008
Cooperative
This type of home ownership, is when one owns shares of stock in a corporation that owns the building. These shares are considered “personal property” similar any other shares of stock. For tax purposes, the IRS has recognized this form of ownership and under normal circumstances any mortgage interest incurred by an owner is considered tax deductible. The corporation (Coop) issues to each shareholder a “proprietary lease” which gives the shareholder the right to occupy their specific apartment. In addition, the corporation elects a board of directors who are responsible for overseeing the daily operations of the building, enforcing the by-laws, and acting of behalf of the shareholders to ensure that the building operates as an efficient entity. Owners pay to the Coop a maintenance fee, which pays for such items as; the buildings Real Estate Taxes, underlying mortgage, payroll, management fees, supplies and general maintenance. In addition, many coops accrue a contingency budget for future capital repairs. Typically, the portion of the maintenance that is attributed to the buildings Real Estate Taxes and mortgage interest are “tax deductible (td)” on your federal and state income tax returns. This “td” may change annually, as the mortgage on the building is amortized and Real Estate Tax charges change.
Additonally, as this type of ownership regards owning stock in a private corporation, approval to purchase such shares of stock must be granted by the board of directors. Thus, a purchase application must be submitted to the board requesting approval to purchase these shares. This application typically requires a minimum of the following: Net worth statement with full backup documentation (bank statements, brokerage and retirement account statements, etc.), 2 years tax returns & W-2′s, verification of employment or accountants letter, 2 personal and 2 business letters of reference, landlord reference, a credit check authorization, and a completed application provided by the board. In addition, the board will require an interview in order to meet you and make any inquiries regarding the information you submitted or questions they may have. The board has the right to approve or deny any applicant without cause.
Condominium
This type of home ownership one owns “Real Property” much like owning a house. The condominium residents elect a “board of managers” who are responsible for overseeing the operations of the building and enforcing the “house rules” of the building. The main difference between owning a “condo” and a “house” is, in addition to owning the apartment, you also own a small percentage of the “common elements” of the building such as the halls, stairwells, basement, etc. Each homeowner receives a separate property tax bill from the city for their unit. In addition, each owner pays a “common charge” to the Condominium association to pay for such items as: payroll, building maintenance and supplies, management fees, and building repairs. In addition, some condominiums maintain a “reserve fund” in order to pay for major repairs and improvements to the building. It is important to note that although the Real Estate Taxes you pay on a condominium apartment are tax deductible, the common charges are not as they are solely to pay for the building operation and are not attributed to any tax deductible expenses.
In recent years many condominiums have implemented a procedure whereby purchasers must submit an application to purchase. Unlike in a coop, the board of managers must either approve the applicant or exercise the condominiums “right of first refusal” to purchase the apartment from the owner. Although this is not a common occurrence, it is an option for the board should they choose to exercise it.
In most condominiums, the owner has the right to sublet or sell their apartment with either no board approval or with a minimum board review. In either case, the board must either approve the applicant or exercise their right of first refusal to match the purchase price. For this reason this form of ownership is very appealing to investors, foreign buyers and parents purchasing for their children.
Cond-Op
By definition, a Cond-op is a residential Cooperative where the ground floor (typically commercial units) is converted into a separate “condominium” which is either owned by an outside investor or the original sponsor of the building. Thus, although the residential units are a coop, the commercial units are owned as a condominium by an entity other than the coop. Thus, the coop does not receive the benefit of the income from these units.
Many times, people will refer to Cooperatives that operate under Condominium rules as “Cond-ops”. This is not accurate although you will hear this quite often. A Cooperative that operates under condominium rules is just that but may be inaccurately referred to as a “Cond-op”.
Townhouse
This type of ownership provides the owner with a “fee simple” ownership of Real Property. The owner is responsible for payment of all Real Estate Taxes, maintenance and repairs of the property. The sale of the property may be conveyed to any party without prior approval by anyone other than the homeowner. There are two typical types of Townhouses; single family and multiple family. In a single family the property may only be occupied by one family although the entire house may be rented to another single (or family) user. In a multiple family residence, the owner may occupy (or lease out) one of the units while leasing out the other units as income producing entities.
Why Hiring A Real Estate Agent Is More Advantageous Than Selling/Buying/Renting Yourself
Posted by reptilemind on May 10, 2008
According to the National Association of Realtors, 98% of real estate agents sell homes and close deals. Only 2% of all For Sale By Owners (FSBOs) sell on their own.
Home owners know their homes, thus the idea “we can sell it ourselves and save the commission.”
But what do sellers really save?
And for buyers, the idea of viewing apartments on their own and making an offer is a breeze. How breezy is it when the seller isn’t flexible or there are complications?
When you hire a real estate agent to sell your home or represent you in purchasing a home, you get a lot.
Real estate agents are thoroughly trained and experienced.
You might think you know a lot about real estate, but wouldn’t you rather have a person who knows more than you do when selling homes and making that important decision to buy? Real estate agents are not emotionally attached to your home. Therefore they can negotiate on your behalf bringing you the best outcome.
If you’re a seller, your agent can help you set the right price on your home that will cause your home to sell. Knowing supply, demand and the area’s conditions makes a huge difference as to how long your home is on the market. Your agent will market your property on their company’s web site which is likely to be visited by hundreds of thousands of buyers, and to all of the other agents in your area. Agents have various ways of marketing which result in a far greater reach — bringing you more visits from buyers than you could ever generate on your own. Your agent filters serious buyers from shoppers and brings you qualified offers.
As a buyer, your agent knows the market. They set up appointments for you to see the best properties according to your specifications. They save you the leg work and negotiate on your behalf. Agents often can get you more for your money. You may be a negotiating pro, but, do you have real estate negotiating knowledge? Do you have the professional expertise that could make that home yours vs losing that home to another buyer?
As a renter, your agent has a pulse on the rental market in your area. They know what buildings are like, the neighborhoods, the amenities, and much more. Your agent negotiates the best possible lease for you. Your agent protects you.
Real estate agents have market knowledge.By looking at your newspaper and reading the Internet, you may think you know the prices in your neighborhood. Your professional agent has up to the minute knowledge of what’s happening in your neighborhood. And … they know your neighborhood’s comparable properties and sales. They know market conditions and can present data and information to you that you would have no way of knowing, whether you are a seller, buyer or even renter.
Real estate agents work for you. Professional agents qualify buyers. Would you want an offer only to find out the buyers can’t afford to buy your home?The paperwork of selling, buying or renting a home can be daunting. When doing this paperwork on your own, one mistake could be the most expensive mistake you’ve ever made. It could even have legal implications.
Professional real estate agents handle all of the necessary paperwork needed to make your sale, purchase or rental a successful and smooth transaction. A good agent is there for you every step of the way … including being there for you after your closing.Whether you have questions or any issue related to your property, they re there to assist you.A good agent is worth their weight in gold. And that good agent will be there for you in the future or for anyone you refer to them.
Living In The Neighborhoods Of Manhattan
Posted by reptilemind on May 10, 2008
No matter where you choose to live in New York City, living here is like no other place in the world. New York City offers Broadway, entertainment, world class museums and art galleries, fashion, shopping, restaurants, finance, diverse and interesting neighborhoods, sports, Central Park and so much more.
No matter what you’re looking for, you’ll find it in New York City.
Learn more below about the Manhattan neighborhood you want to live in. Should you have any questions about living in any of these neighborhoods, please feel free to contact me and I will be delighted to assist you.
Battery Park City
Lying on the southern tip of Manhattan, Battery Park City offers expansive greenery, tree-lined streets and spectacular water views. The quiet calm of this self-contained neighborhood feels more suburban-like than Manhattan. One of the city’s newest neighborhoods, it hosts many luxury hi-rise apartments which blend with the nearby colonial buildings and vestiges of the country’s earliest days in the financial district. Covering over 90 acres, Battery Park City is bounded by Chambers Street in the North to Pier A, and West Street to the East to the Hudson River. Residents can enjoy waterfront walks, biking along the esplanade and the myriad galleries of nearby Tribeca. Many families and professionals also enjoy the proximity to the financial district, making it easy to get to and from work. Battery City Park sports a Marina, free outdoor concerts at the South Street Seaport and Winter Garden, and boats sailing off to the Statue of Liberty and Ellis Island.
Carnegie Hill
One of Manhattan’s most prestigious neighborhoods located on the Upper East Side. Extending from 86th Street to 96th Street and from Lexington Avenue to Central Park, this wealthy locale has some of the most elegant shops and restaurants, which line Madison Avenue, in the entire city. Carnegie Hill consists of luxury apartment buildings, both coops and condos, as well as many exquisite townhouses. The prewar buildings demonstrate some of the most beautiful architecture in all of New York City. Home to the Museum Mile, which includes the Metropolitan Museum of Art, the Guggenheim Museum and the Jewish Museum, Carnegie Hill, offers a large variety of cultural activities. Chelsea Until recent years, Chelsea was said to be the heart of the Garment and Flower districts. Today, it is one of the city’s hottest zip codes. Considered a fashionable place to live, it began as farmland in the early 1800′s, becoming more commercial later that century with the coming of an above ground railroad.
Chelsea
is located between 34th street and Greenwich Village on the West Side. It is full of off Broadway theaters, new art galleries, and fine restaurants as well as the landmark Chelsea Hotel, a favorite of many famous artists, writers and musicians. During seasonal art openings, the area buzzes with gallery-hoppers that are as interesting to gaze at as the art itself. Chelsea is also home to several popular weekend flea markets and New York City’s most modern, state-of-the-art sports complex. Chelsea Piers is a large complex where you can ice skate, drive golf balls, hit inside batting cages or bowl; it also features a health club and many sports leagues. The architecture in this area is unique. East of Ninth Avenue, the spacious and stylish loft warehouses give way to stunning landmark townhouses, prewar co-ops and new luxury high-rise buildings. Traditionalists will appreciate Historic Chelsea’s Cushman Row, located between Ninth and Tenth Avenues on 20th Street.
Chinatown Home to narrow streets and strong vibrant ethnic camaraderie, Chinatown is one of the most well known and interesting places in the New York City. It extends from Canal Street to Worth Street and from 6th Avenue to Bowery. It is a very popular tourist destination but now is becoming more and more of a new trendy residential area. Chinatown’s growth and expansion has made it one the largest Asian communities in the entire world. Canal Street is the heart of this area, with a large number of vendors selling many different goods with great bargains.
Clinton
Formerly a large industrial district in the 19th century, this has now become one of Manhattans newest charms. Clinton, once referred to as Hell’s kitchen, is located on the west side. Its boundaries are 59th Street to the North, 8th Avenue to the East, 42nd Street to the South and the Hudson River to the West. When most of the peep shows and adult video stores moved out over the last couple of decades many business’ (most notably Disney and MTV) and new developers moved in to clean up and restore the area. Clinton is home to many young professionals as well as many lifetime residents, most who are all very active in local politics and their neighborhood community. Many of the buildings in this neighborhood tend to be four to six floors however; there are also several new state of the art luxury high rise buildings close to the river. Just like most of Manhattan, Clinton has its share of fine restaurants and also contains a lot of fresh food markets popular among residents and tourist alike.
East Harlem
Also known as Spanish Harlem or El Barrio, East Harlem has a good deal of culture and a real neighborhood feel. The neighborhood stretches from 96th to 125th Street between 5th and 1st Avenues on the East Side. Predominantly Spanish speaking, East Harlem is a very tightly knit community where people sit outside watching life go by and catching up with their neighbors. Although it is thought by some to be a tough neighborhood, redevelopment of many older buildings is transforming East Harlem into one of Manhattan’s new and upcoming areas. With its cultural and Latin flavor, East Harlem boasts some of the city’s best and most inexpensive restaurants. Fill up on steaming chili rellenos and head out some salsa dancing!
East Village The East Village is one of the more unique neighborhoods in the City with a “happening” reputation and colorful past. While the areas close to Fifth Avenue have always been popular, revitalization further east has transformed the East Village into an entity of its own. Once considered the stepsister of the West Village, the East Village is catching up to its neighbor with its own trendy cafes, boutiques, and art galleries. In its early years, the East Village was home to the Stuyvesants, Astors, and Vanderbilts. The neighborhood then saw waves of immigrant groups followed by the Beat, Hippie and Punk generations – each leaving its imprint.
Located in lower Manhattan, the area stretches from 14th Street to Houston Street and from Bowery Street to the East River. The East Village consists mostly of walkups, which are being renovated; conventional high-rise apartment buildings are not as prevalent. While it still maintains a hip, happening feel, the East Village is seeing more families arrive, and many young professionals now call it home. The refurbished Tompkins Park is the main park in the East Village, offering a welcome respite from city life.
Fashion Center
The Fashion Center, also known as the Garment District, has undergone tremendous change over the past few years. New York’s dynamic fashion-design hub is now becoming its own diverse residential community. What is drawing people is not just the reams of beautiful garments – it’s the convenient location in the heart of Midtown West, the mix of housing, and the close proximity to many restaurants, commercial offices, retail stores, and public transportation. These pluses play well against the
backdrop of style, cutting-edge clothes, millions of shoppers flocking to snap up the bargains, and F.I.T’s bright-eyed hopefuls aiming to be the next Ralph Lauren or Donna Karan. Other highlights are Macy’s, Madison Square Garden and Penn Station.
Bordered by Fifth and Eighth Avenues, the area runs from 34th Street to Times Square (42nd Street). Among its blend of low and high-rise apartment buildings, “Fashion Central” is seeing a number of luxury buildings go up. Still growing, this neighborhood is likely to become ever and ever more desirable.
Financial District
The Financial District, birthplace of New York City and the nation, is one of the most historic and intriguing neighborhoods in the U.S. Full of winding, cobblestone streets and historic buildings, the Financial District sits on the Southern tip of the island. It is now undergoing major restoration and is again considered one of New York’s City’s special gems. Wall Street is the focal point of this neighborhood – a narrow street that is home to the New York and American Stock Exchanges. South Street Seaport is also a very popular destination. It boasts many shops, restaurants, bars and antique ships that have been converted into floating museums. During the day, the Financial District is as busy if not busier than any other neighborhood in the world; however, at night, there is a lot of peace and quiet.
In 1995, the Mayor started an Economic Revitalization Program in the neighborhood that began with 5,000 new apartments and the prospect of 7,000 more. Many of the older, large office buildings have been converted to residential space with spectacular views of the water and the Statue of Liberty. The neighborhood has emerged as an around-the-clock community for working, living and entertaining. It offers an elegant residential neighborhood, world-class cultural institutions, and a center for music, dance and visual arts events.
Flatiron
The Flatiron District, with its convenient central location, is popular among older business people, young artists and frenzied shoppers alike. Located on the east side, the neighborhood extends from 14th Street to 23rd Street and is bounded by Park Avenue South to the East and 6th Avenue to the West. The district gets its name from the Flatiron building, the first steel-framed building, famous for its triangular shape and also the tallest building in the world in 1903. You can enjoy the sophisticated Restaurant Row on Park Avenue South, large discounters like Filenes’ Basement along Sixth Avenue, and classier shopping on Fifth and Broadway. Madison Square Park is a wonderful, renovated spot to walk your dog or just sit on a bench and enjoy the scenery. The Flatiron District has some of the most detailed and beautiful architecture in Manhattan as well and many huge, airy lofts.
Fort George
Home to the last colonial residence in Manhattan, Fort George is full of history and tradition. The Morris-Jumel Mansion was the headquarters of General George Washington during the Revolutionary War. Fort George extends from West 155th Street to West 181st Street and is bordered by Fort Washington Park and the Hudson River to the West and the Harlem River to the East. Most apartments in the area are in prewar buildings and are very spacious. Only 15 minutes by subway to Midtown Manhattan, this location is appealing for people who want to live in Manhattan but not in the bustling business districts. Most residents here are artists, writers and middle class workers who are very family and community orientated. Fort George is an exciting community, with many different ethnicities and cultures, and an increasingly popular residential neighborhood.
Gramercy Park
Gramercy Park is one of New York’s most historic and unique neighborhoods. Centrally located on the East Side, residents have the convenience of living downtown (Soho, Noho and the Village are just blocks away) coupled with a sophistication generally reserved for the toniest uptown neighborhoods. This pristine area extends from 14th to 24th Street between Fifth and First Avenues. With many prewar and post war buildings, the true elegance of Gramercy Park is displayed by the beautiful 19th century townhouses, Victorian brownstones, and prewar buildings surrounding the park – built by such famous architects such as Emery Roth and Calvert Vaux. Gramercy Park gets its name from the only private park in the city. Key access is needed and is given to those who live on the perimeter of the park. Known as the oldest residential neighborhood, Gramercy is also home to many fabulous restaurants, trendy nightspots and lots of great shopping. Given its many charms and convenience, this safe, tight-knit neighborhood draws young professionals and older residents alike.
Greenwich Village
The small, winding tree-lined streets with magnificent 19th century townhouses are only part of what makes Greenwich Village such an alluring place to call home. What began as a peaceful suburb when it was founded is now one of the liveliest neighborhoods in the city. In lower Manhattan, the Village is bounded by 14th Street in the North to Houston Street and Fourth Avenue in the East to Seventh Avenue. Washington Square Park is the center of the Village with its large arch, marking the first presidential inauguration that took place in New York City. Also home to New York University, Greenwich Village boasts a wide variety of events and residents. With bright-eyed students, rosy-cheeked families, artists, celebrities, Wall Street professionals, and old-timers, the village is for anyone and everyone. This neighborhood breathes life with crowded cafs, street vendors, popular music and nightspots. Even though most of the residences are older buildings and townhouses, there are also beautiful new modern buildings, making it easy for anyone to find the ideal home.
Hamilton Heights
Located in upper Manhattan, Hamilton Heights extends from 140th Street to 145 Streets and from St. Nicholas Avenue to Amsterdam Avenue East to West. This exclusively residential neighborhood was once owned by General Alexander Hamilton. Hamilton Heights is a historic locale with three landmarks; the summer home of Alexander Hamilton, St. Luke’s Episcopal Church, and the Convent Avenue Baptist Church. A very distinctive area with a lot of unique architecture, Hamilton Heights has beautifully maintained townhouses along tree lined streets. Constructed by many famous architects, most of the home contain garden separating them from the street. The styles differ from Flemish to Tudor to new renaissance to classical and most are one family houses. In addition to the magnificent homes, the City College Campus of the City University of New York is situated around the lovely St. Nicholas Park.HarlemIf you are looking for a location with history, flair, culture and affordability, then Harlem may just be what you are looking for. This upper Manhattan neighborhood has undergone a renaissance. Starting at 116th Street and extending north to the Harlem River, Harlem has many new developments, commercial and retail space. As such, it’s becoming a popular destination for all types of people. Even Bill Clinton has moved in! With its new construction, Harlem hasn’t lost its old historic flavor. There are still many prewar buildings and enchanting 19th century townhouses equipped with fireplaces and molding and lovely backyards. Harlem is home to Columbia University and the world renowned Apollo Theater where such greats as Duke Ellington, Count Basie, and Aretha Franklin performed. The new Harlem Center is finally here, and more and more businesses are flocking in to meet the needs of this resurrected neighborhood. So hop on up to Harlem and enjoy the pulsating beat and affordable housing!
Kips Bay
What was once a bay, Kips Bay is now a quiet and comfortable location on the East Side o
f Manhattan. Somewhat understated until recently, this neighborhood east of Third Avenue between 27th and 34th Streets, is becoming more and more popular with stylish young professionals. Some might say it’s the lure of the fantastic ethnic restaurants along Lexington and Third Avenues (now dubbed Curry Hill) that has drawn new residents to the area. Others might say it’s the enjoyable evening entertainment. The real draw, though, is its proximity to Midtown’s business district and Downtown’s nightlife. Both are only a walk or short ride away. Because of its smart locale, new boutiques and businesses have also moved in. Notably, Kips Bay is the center of Medicine in the city. It is home to the New York University School of Medicine and Dentistry, Bellevue Hospital, and the Chief Medical Examiners Office. As result, many doctors and hospital staff live here too. Most of Kip Bay’s residents live in attractive apartment buildings, as many of the brownstones and townhouses are gone.
Lenox Hill
Lenox Hill is one of the Upper East Sides most affluent neighborhoods. It extends from 77th Street to 66th Street north to south and from Lexington Avenue to Central Park east to west. This area is filled with many luxury apartment buildings, both co-ops and condos, as well eye-catching townhouses. The elegant and sophisticated neighborhood also has many first rate restaurants and shops on Lexington Avenue as well as boutiques, art galleries and hotels on Madison Avenue. The Whitney Museum of American Art, The Asia Society and the Frick Collection are all major cultural attractions located in the heart of Lenox Hill.
Lincoln Square
Home to the Metropolitan Opera House, the New York Philharmonic, the Julliard School and many other cultural institutions, Lincoln Center is the biggest performing arts center in the United States. What was completed in 1968 now is the center of the Lincoln Square area. This neighborhood is located between 62nd and 66th Streets on the West Side between West End Avenue and Central Park West. This artistic menagerie has a many different types of cuisine, hotels as well as popular night spots. Lincoln Square is surrounded by many new state of the art condominium buildings as well as co-ops and townhouses.
Little Italy
Lined with small cafes and beckoning ristorantes, Little Italy’s narrow streets are alive with the smells of fresh bread, garlicky pasta and the sweet sounds of “la dolce vida”. North of Canal Street, Little Italy runs from Mulberry to Mott Streets and Bowery to Lafayette Street. Even though it has gotten smaller due to nearby Chinatown’s expansion, it still has not lost its flair for life and mouth-watering cuisine. The streets are lined with vendors and Italian culture is demonstrated to its fullest. Every September, the streets are closed for the famous Feast of San Gennaro celebration. With its color and convenient location to downtown and many distinct neighborhoods, Little Italy is drawing many new, young residents. It is made up primarily of multi-tenant style buildings, along with some of the city’s most creative new developments, providing some of the more affordable homeowner options in the city.
Lower East Side
What was once the world’s largest Jewish community has now become one of the most eclectic in all of Manhattan. The Lower East Side is home to designers, writers, professionals, musicians and artists not to mention the myriad different ethnic groups that grace this neighborhood. Old-world shops sit side by side with funky, new boutiques and galleries that showcase the best of New York’s avant-garde fashion scene. With many bargain stores, edgy new nightspots, ethnic restaurants and music venues, this neighborhood is truly for everyone. The Lower East Side is bounded by Houston Street, the East River, and FDR Drive. Over the past two decades, this neighborhood has undergone a major renaissance for the better. It is now much safer and cleaner, and its mixture of the old and the new makes it fascinating. Refurbished lofts and duplexes, as well as turn of the century walk-up buildings, are common. With the growth of the neighborhood, it is no surprise that prices have increased and more trendy shops and restaurants have emerged.
Manhattan Valley
Manhattan Valley occupies the area between Central Park West and Broadway from 100th Street to 110th Street on the Upper West Side of Manhattan. This working class neighborhood is becoming more and more of a desirable location to live. With its proximity to Columbia University, many students, staff and faculty are calling Manhattan Valley home. Named for the slope of Manhattan Avenue, this neighborhood has a few quiet blocks with gorgeous townhouses and brownstones. Also, there are many tenement buildings that are being restored and renovated. One can notice the culture and distinctive architecture along Central Park. Amsterdam Avenue and Broadway have many restaurants and bars and many retail stores have opened in the past few years.
Manhattanville
This neighborhood was once a small village in the 19th century that flourished during the Industrial Revolution. Centered around 125th Street and Broadway on the West Side, Manhattanville was once the residential, manufacturing and transportation hubs of New York City because of its access to the Hudson River. Today, the neighborhood still contains its religious and educational institutions and Columbia University is also expanding its campus into this West Harlem locale.
Midtown East
One of the liveliest business sections in the city, Midtown East offers beautiful new luxury buildings as well as old world charm. Located between 30th and 59th Streets on the East Side, this area is home to many corporations such as Met Life and Citicorp as well as the United Nations. The center of Midtown East is Grand Central Station, which has been magnificently renovated, and is an architectural marvel lined with shops and restaurants. With the art deco Chrysler Building illuminating the skyline, every style of home is available in this neighborhood. New luxury high-rise buildings are popular among professionals who choose to live close to work. Townhouses and prewar buildings are also available, with many in the elegant and upscale Beekman area, located between 49th and 51st Streets from First Avenue to the East River. There are also reasonably priced studios and one-bedroom apartments located closer to First and Second Avenues. Despite being one of the busiest places by day, there is no shortage of nightlife here. Numerous delicious restaurants, alluring shops, and jazzy local bars keep residents alive at night.
Midtown West
Many consider Midtown West to be the heart of New York City. It is the center of business, entertainment, shopping, and tourism in Manhattan and has undergone a major renovation since the mid 1990′s. Extending from 34th to 59th Street between Fifth Avenue and the Hudson River, this bustling neighborhood is filled with life and many New York City tourist destinations. Times Square, the Theater District on Broadway, Radio City Music Hall, Carnegie Hall and Rockefeller Center are all found in Midtown West. Real estate development has been the main part of the renovation as many luxury high-rise building have been built in the area. This is a very attractive place to live due to its location. The ability to walk to work, and the great nightlife that Midtown West enjoys, are only two of the many reasons why this area meets its residents’ every need.
Morningside Heights
Morningside Heights extends from 110th to 125th Street between Morningside Park to the East and the Hudson River to the West. This West Side neighborhood is home to the ivied walls of Columbia University. Columbia University is located between 114th Street and 120th Street. Morningside Heights is made up primarily of prewar co-ops, and has a variety of
residents. Many students, faculty, and staff of Columbia live in the area, as do many original New Yorkers.
Known as one of the safest neighborhoods, this has been a comfortable and quiet community in the past. It is now becoming more interesting and lively with the addition of some alluring new businesses. But even though many scholarly bookstores, tasty restaurants, cafes and bars have graced Morningside Heights, it has not lost any of its charm. Bounded by two parks (Morningside and Riverside Parks), this neighborhood is home to some wonderful architecture and two magnificent churches. The gothic Riverside Church, overlooks the Hudson. This stunning beauty, with the world’s largest 20-ton church bell, is a sight to behold. Also, you’ll find the arresting St. John the Devine, the country’s largest cathedral, and a flourishing center of community activity.
Murray Hill
Known as both a quiet, comfortable neighborhood and one teeming with nightlife, Murray Hill has come a long way since its day as farmland. Many ethnic restaurants, cozy cafes, swanky lounges, and a very popular bar scene give this neighborhood more than a modicum of downtown flair. Also, uptown elegance is manifested with a tantalizing mix of residential options: luxury residential high-rises, beautiful turn-of-the-century townhouses, exquisite pre-war buildings, brownstones, and well-maintained co-ops and condos. Located between Fifth Avenue and the East River and stretching from 34th to 40th Street, Murray Hill draws many young professionals due to its relative affordability and proximity to midtown. This neighborhood has grown in the last few years primarily due to its prime location. It is only a stone’s throw away from midtown’s business district and a quick ride to downtown’s myriad, eclectic enticements.
A burgeoning real estate destination, the neighborhood also has a few notable landmarks to its credit. The Morgan Library and Sniffen Court carriage houses on 36th Street are architectural masterpieces as is the Gilbert-designed Beaux Arts mansion. Furthermore, with Grand Central Station, the New York Public Library, and the Queens-Midtown Tunnel on its fringes, it’s easy to see the appeal of this community.
Noho
Noho (NOrth of HOuston Street) is a wonderful fusion of residential nirvana and retail heaven (or madness!) Spacious airy lofts are the order du jour while trendy shops, avant-garde restaurants, hot night haunts, and popular retailers like Tower Records and Crate and Barrel clamor for attention. Noho stretches north from Houston Street to East 9th Street and east from Broadway and Mercer to Lafayette Street and the west side of Cooper Square. Originally, artists occupied most of the residential lofts in the 1970′s and ’80s, but now there are a wide variety of homeowners. Lawyers, bankers and many professionals as well as celebrities, artists and writers all live in creative harmony here.
The blocks east of Broadway hold a certain magic: wide cobblestone streets pave the way to huge celebrity-owned lofts, not to mention some of the city’s finest boutiques and restaurants. There are also a number of young, edgy companies (publishers, record companies and others) in the converted spaces along Broadway. In fitting with Noho’s creative bent, beautiful architecture abounds. Along Broadway, you’ll find many different styles including Neo-Greco, Renaissance, Romanesque and Classical. There are also many gorgeous 19th Century townhouses, which are part of Noho’s historic district. With some of the city’s best restaurants and trendiest nightlife, Noho is a highly popular neighborhood.
Soho
What was on the verge of being destroyed in the 1960′s is now one of the most fashionable and desirable places to live in New York City. Soho (South of Houston Street) used to be an industrial district with many cast iron buildings, and in the 1960′s an influx of artists came and saved the area. By impeccably restoring the old warehouses into spacious and attractive lofts, Soho became a trendy place to live and the area flourished.
Soho is one of the best shopping neighborhoods and most fun to browse. Prime action is on Broadway and its intersecting cobblestone streets. The area, with its fashionable boutiques, clothing stores, see and be seen restaurants, and high-end street peddlers, is bustling with people from every walk of life – and also includes 250 or so art galleries, four museums, performance centers, swanky lounges, bars, nightclubs and spas. Similar to Noho, Soho revels in its unique architecture. Many beautiful buildings abound in different styles such as Victorian Gothic, Neo-Greco, and Italianate. The residents in this neighborhood are mostly well-to-do professionals and artists; many celebrities live here as well. Several new hotels have also opened in the area making Soho a desirable place for international tourists.
Spanish Harlem
Spanish Harlem, also known as El Barrio, is located on the East Side of Manhattan between the East River and Central park from 100th street to 125th street. This lively and developing neighborhood has a rich history, and two celebrated cultural institutions, El Museo Del Barrio and the Museum of the City of New York. With many beautiful townhouses, Spanish Harlem boasts some excellent ethnic cuisine as well easy access to Central Park and the East River walk.
Sugar Hill
“Sweet life on a hill” is the original meaning of this historic Harlem neighborhood. Sugar Hill is located between St. Nicholas and Edgecombe Avenues and extends from 145th Street to 155th Street in upper Manhattan. A middle class neighborhood, Sugar Hill has many well preserved townhouses and brownstones as well as many meticulously designed apartment buildings. Family and community are what drive this neighborhood, many family businesses still exist and most people are involved with local politics. This close knit neighborhood used to be considered the soul of class and elegance is now on its way to regaining that reputation. Sugar Hill is also home to the City University of New York’s main campus which adds to the livelihood of this location.
Sutton Place
Sutton is considered one of Manhattans most desirable and prestigious residential addresses. Named after Effington B. Sutton who was a shipping magnate that bought land on the along the East River, Sutton Place is located between East 53rd and East 59th Streets along the East River. With its luxurious co-ops and stunning townhouses, Sutton rivals Fifth Avenue and Central Park West for top prices and extravagance. With all the prewar charm one can ask for, this neighborhood is popular because of its privacy and its safety. Sutton was once mostly populated by older families however, now a growing number of younger families have recently begun moving to this area. There are two public parks and jogging along the East River as well as a dog run, it is also well served by city bus and the express bus to Wall Street.
Theater District
The Theater District is located on the West Side of Manhattan extends 42nd and 54th Streets and between 6th and 8th Avenues. In the heart of this neighborhood lies Times Square. This popular tourist destination is world famous for its entertainment, tall office buildings and marquees filled with bright lights. Approximately 36 theaters put on well-known Broadway performances daily. Most of the older landmark theaters have been restored and back in working order. There are also many famous restaurants that line Restaurant Row, any type of cuisine that one desires can be found within just a few blocks.
Tribeca
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