Baby Boom in Manhattan: Suburbia in the Twenty First Century

By
Real Estate Broker with The Corcoran Group

Children's Playroom at The Boulevard Condop

Family Friendly Manhattan - Upscale Suburbia in New York City

Last week I was showing a 2 bedroom apartment on the Upper West Side to one of my buyer client's a couple with a new baby. The apartment was listed by an attorney/broker/owner who lived in the apartment with her husband and children. Their Asking price: $1,450,000 with monthly maintenance of $2215.

My client asked her if they were moving to the suburbs? She said Oh no we love it here we're buying a bigger apartment in the building and we don't need to sell this one first.

As we left the apartment and we were in the hall, my buyers said to me "we would be considered wealthy if we were looking in the suburbs, but here we feel poor". Then they asked me if I saw the article in The NY Times about Manhattan having the richest toddlers in the country. I hadn't seen the article yet but I live and work on the Upper West Side and sell real estate in Manhattan so it certainly was not a suprise. I hear from buyers all the time about the mansions they could buy in the suburbs but they want to live and raise their children in the city.

Any one who has been to Manhattan especially the Upper West Side in the last several years could not help noticing the cavalcade of baby strollers through out the city's broad sidewalks.

According to The NY Times article since 2000 according to census figures, the number of children under age five has increased by more than 32%. Children under 5 account for more than 1 in 20 Manhattan residents.

The analysis shows that Manhattan's toddlers are being raised by parents whose median income was $284,208 a year in 2005, which means they are growing up in wealthier households than similar youngsters in any other large county in the country.

Among families with toddlers, San Francisco ranked second, with a median income of $150,763, followed by Somerset, N.J. ($136,807); San Jose, Calif. ($134,668); Fairfield, Conn. ($132,427); and Westchester NY ($122,240).

The data from the NY Times study shows some very interesting demographic shifts.

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Topic:
Real Estate General Information
Location:
New York New York County Manhattan Upper West Side
Tags:
schools
baby boom
real estate
family friendly
manhattan

Comments 8 New Comment

Rainer
1,918
Donna McCrummen
Keller Williams Towne Square Realty

I was born and raised and raised my daughter in NYC....Murray Hill to be exact....would love to see more about the old 'hood on your blogs Mitchell. We are all living in Arlington, VA now. Also a rather urban environment but well uh, no comparison to NY. My daughter is raising her 3 daughters here in the DC area and we love it. But still miss NYC. We were not over priveledged. Just hard working and city lovin'

April 13, 2007 03:35 PM
Rainmaker
499,493
Mitchell J Hall
Lic Associate RE Broker - Manhattan, NYC
The Corcoran Group

Hi Donna,

I plan on writing a blog about Murray Hill it is still a very nice quiet neighborhood. I actually lived in Arlington VA when I was in college at American University. I love the DC area.

It is unfortunate that the city that always had a hard working city lovin middle class is becoming more and more of an island for the ultra wealthy.

April 13, 2007 11:06 PM
Rainer
1,918
Donna McCrummen
Keller Williams Towne Square Realty

I'll be looking for the Murray Hill blog. It's a great neighborhood -- We still have tons of friends there and get back often.

DC is cool. We live in Berkshire/Oakwood in Arlington near the EFC metro. Tons of McMansions going up on tiny lots......

April 14, 2007 01:23 PM
Rainmaker
1,382,498
Laura Cerrano
Authentic Feng Shui Expert
Feng Shui Manhattan Long Island
Mitchell, that is so interesting that I found this today.  I was on the upper East Side (92nd St.) just yesterday in a beautiful two bedroom apartment.  Interesting that they had a young child and were planning on more---and I DID happen to notice a number of baby strollers!  Interesting post!
April 15, 2007 09:17 AM
Rainer
1,918
Donna McCrummen
Keller Williams Towne Square Realty
LOL - I'm not sure why everyone is so surprised that there are babies in NYC. City dwellers are not all single sex in the city types...........
April 16, 2007 10:45 AM
Rainmaker
499,493

Mitchell J Hall

Lic Associate RE Broker - Manhattan, NYC
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