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Park/Fifth Ave to 79th St

Park Avenue is a major north-south artery in Manhattan, which was originally known as Fourth Avenue. Approximately 10.9 miles, it starts at Astor Place in Cooper Square on the southern end and terminates at Third Avenue in Fordham. Park Avenue runs parallel to Madison Avenue on its west side and Lexington Avenue to its eastern side. Its name changes in several sections along the strip: it is alternatively known as Fourth Avenue south of 14th Street, Union Square East between 14th and 17th Streets, and Park Avenue South from 17th to 32nd Streets.

Park Avenue as the Iconic New York Address

Manhattan’s Park Avenue is notable for having some of the most expensive real estate for sale New York City for many years. This is true for both residential condos for sale in Manhattan as well as commercial properties. It is not unusual to hear of old families associated with one or more of the prestigious residential buildings lining Park Avenue or Fifth Avenue. For instance, 740 Park Avenue is considered one of the area’s most luxurious residences, counting some of the wealthiest industrialists and leading executives among its residents or former residents. The building dates back to 1929, as do many other luxury apartments, when it was developed by the grandfather of Jacqueline Kennedy who lived in the building herself as a child. The Rockefellers, the Lauders of Estee Lauder cosmetics and Time Warner’s former boss Steve Ross have lived in this building that consists of only 31 units in all. The list of current residents reads like the “Who’s who in international business.” James C. Penney, the man behind J.C. Penney and renowned composer and conductor Leonard Bernstein have also lived in Park Avenue apartments for a time. This exclusivity is characteristic of the condo, co-ops and Park Ave Apartments for Sale and is reflected in many neighborhoods in the the Upper East Side.

Aside from plush residences, Park Avenue is a dense showcase of historically significant buildings that include the MetLife on 200 Park Avenue and the Church of St. Ignatius Loyola that has been the site of funerals of prominent celebrities and politicians. The reputation of Park Avenue as having the highest concentration of high-value real estate for sale New York City is bolstered by its portrayal in movies and TV shows. This is an attractive and well-maintained road due to the efforts of the Fund for Park Avenue that decides landscape design and directs maintenance of the famous avenues.

Amenities and Provisions on Park and Fifth Avenues

The Upper East Side is not normally associated with the hipster lifestyle that younger New Yorkers favor much less for condos for sale in Manhattan that are within the budgets of early-career professionals. The areas along Park and Fifth Avenues have a reputation as an enclave for the ultra-wealthy many of whom belong to an older demographic. This may have been true in the last decade, but in recent years, some Park Ave apartments for sale have provided opportunities for the younger crowd to find affordable niches in and around this area. While some of the priciest condos for sale in Manhattan are found at Park Avenue addresses, there are affordable units available. The affordable term is used here to refer to comparative prices in relation to other Manhattan neighborhoods and outer boroughs.

For households with children seeking Park Ave apartments for sale, several city-run and private schools are located near this area. These academic campuses include Hunter College elementary and high school campuses, the exclusive The Spence School, Dalton School and Manhattan Country School.

The area has seen an increase in restaurants and retail stores. This part of the Upper East Side has since developed its own night life options so that young urbanites seeking the entertainment options in neighborhoods like West Village can find comparable options close to their homes. Groceries, specialty cafes and restaurants are located at strategic intervals so that it is possible for residents to find the basic amenities within a short walk from real estate for sale New York City.

Housing Options

Luxury Park Avenue apartments are still the norm in the traditionally exclusive part of Park and Fifth Avenues, but pockets of opportunity have emerged for younger residents with limited budgets. The stereotypical old-money luxury apartments still dominate the housing mix, but the outlying areas of Park and Fifth Avenues offer a wide selection of housing stock at different price points, providing opportunities for up-and-coming urbanites to stake their claim on condos for sale in Manhattan.

Some of these apartments are described as walk-ups in low rise buildings, many of which have been rehabbed or rebuilt to modern standards. Other apartments may lack the grand, guarded entrances of luxury residential buildings, but they offer spacious apartments at better prices than similar apartments in other Manhattan neighborhoods.

Whether you’re looking for Apartments for Rent in Park Avenue or real estate for sale, you’ll fall in love with our options.

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REBNY data last updated at September 25, 2017 10:54 AM ET

 

 

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