Midtown East has it all: restaurants, museums, shops, parks, landmark buildings, and a bustling residential real estate market. During the first 10 months of 2022, 965 sales closed in the neighborhood. Nearly 60% of those properties sold for less than $1 million. A third cost $1 million-$3 million, and the remainder were priced at $3 million-$8 million.
And there were still plenty more properties to be had: 753 residential units for sale, to be exact, as of mid-November. Of those properties, 42% were priced under $1 million, and 32% were in the $1 million-$3 million range. The asking price for 19% was $3 million-$8 million, with the remaining 7% priced at more than $8 million. The median asking price for co-op units was $875,000, compared with $2.75 million for condos and $6.52 million for townhouses.
Also available as of mid-November were 289 residential rentals. Seventeen percent were available for less than $3,500 a month, with another 26% asking $3,500-$5,000 per month. Slightly more—29%—were available for $5,000-$9,000 a month, and 28% were priced even higher.
The median rental price for the studios on the market was $2,900 a month, whereas for properties with four or more bedrooms the median rent was $33,500 a month. In between, one-bedroom units had a median monthly rent of $4,585, two-bedroom units $6,975, and three-bedroom rentals $12,500. To look at rental prices another way, the median monthly rent for co-op units was $4,850, compared with $6,191 for condos and $14,500 for townhouses.