The East Village has a lot going for it: a wealth of restaurants and watering holes, numerous parks and community gardens, galleries galore—and real estate that’s appreciably more affordable than that of the neighboring West Village.
Of the 46 sales that have closed in the East Village this year as of May, 57% were priced under $1 million, and another 35% cost $1 million-$3 million. Seven percent fell in the $3 million-$8 million range, with the remainder priced above $8 million but below $12 million.
As for the 69 sales listings in the East Village currently active according to RLS, 32% are priced under $1 million, 49% are $1 million-$3 million, and 16% in the $3 million to $8 million range. Only 2% are priced above $8 million. The median asking price is $800,000 for co-ops, $2 million for condos, and $6.2 million for townhouses.
For the 111 residential rentals currently available in the East Village, the median rental price is $4,400/month. Currently, for co-op rentals the median price is $3,225/month, for townhouses $6,500/month, and for condos $8,600/month.
The plurality of the current rental listings are one-bedroom units; these make up 40%, with a median price of $3,247/month. Two-bedroom rentals account for 22% of the listings, with a median price of $5,295/month. Seventeen percent are three-bedroom units, with a median price of $5,500/month, and studios account for 14% of listings, at a median price of $3,350/month. Units with four or more bedrooms, at a median price of $8,350/month, make up the remaining 8% of listings.
Five percent of the available East Village rental listings cost less than $2,500/month, while 27% fall in the $2,500-$3,500/month range. Another 28% are priced at $3,500-$5,000/month, and 29% fall within the $5,000-$9,000/month bracket. The remaining 12% of the rental listings are priced at more than $9,000/month.