East Side midtown rental prices expanded modestly, up 3.6% compared to August 2012. Upper East Side is located between Fifth Avenue and the East River and between 59th Street and 110th Street. But, we also have Carnegie Hill, which is a neighborhood within the Upper East Side, its boundaries extend from 86th Street on the south to 96th Street to the north, between Fifth Avenue on the west and Third Avenue on the east. Moreover, Yorkville is a neighborhood in the Upper East Side of Manhattan. Its southern boundary is East 79th Street, it’s northern East 96th Street, its western Third Avenue, and it’s eastern the East River. Now, in accordance with The Elliman Report, “ Modest rise in rental, the 1-bedroom market showed the least significant gain rising only by 0.5% to $3,013.00, while the 3-bedroom market posted the largest gain, rising by 14.4% to $7,132.00.”
The Elliman Report also stated, “There were 1,305 new rentals during August 2013, up 38.1% from the same month last year. Studios, increased by 30%; 1-bedrooms increased by 34.4%; 2-bedrooms increased by 68.8% and 3-bedrooms market increased by 17.6%.” Well, with this kind of percentage increases, many people are attracted to the neighborhood because of the Upper East Side Historic District, Carnegie Hill Historic District and Metropolitan Museum Historic District. Again, many people are attracted to the neighborhood because of brownstone rowhouses, beautiful pre-war townhouses, and apartment buildings.
Many residents enjoy living on the Upper East Side because of its collection of museums, like the Museum of the City of New York, Jewish Museum, Cooper-Hewitt, Solomon Guggenheim, the Metropolitan Museum of Art, The Frick Collection and The Whitney Museum of American Art. Also, many people are attracted to Central Park, which extends alongside Fifth Avenue from 59th Street to 110th Street, Carl Schurz Park extends from East 84th Street to East 90th Street, between East End and the East River.
Let’s be clear about the Upper East Side is known for many cafes, restaurants, and fine shops and stores. Some of the eateries include Cafe Boulud, Donguri, Shake Shack, Atlantic Grill, and Daniel. Let’s not forget Bloomingdale’s, which has one of the greatest selection of designer clothes, handbags, shoes, jewelry, home furnishings, cosmetics, and accessories for women, men and kids. But, also Madison Avenue, which is known for its designer boutique stores, art galleries and specialty stores like Dolce & Gabbana, Armani and Hermes.