Encompassing the Theater District as well as Hell’s Kitchen, Midtown West is a vibrant, wonderfully diverse neighborhood. It’s also one with a robust residential real estate, given that 426 sales closed there during the first three quarters of 2022. Of those properties, the majority—54%—sold for less than $1 million. Another 42% were priced at $1 million-$3 million, with the remainder sold for $3 million-$8 million.
As of early October, 337 residential units were for sale in Midtown West. The asking price for the majority—again, 54%—was in the $1 million-$3 million range. A third were priced at less than that, while 10% were asking $3 million-$8 million, with 2% priced higher. For co-op units, the median asking price was $615,00. The median asking price for condos was $1.53 million; for townhouses, $5.21 million
The vast majority of Midtown West’s available rentals as of early October were in Hell’s Kitchen. That area accounted for 83%, or 204, of Midtown West’s 247 listings. Units for less than $2,500/month accounted for 4% of the listings, with another 10% falling in the $2,500-$3,500/month range. Thirty percentage had rents of $3,500-$5,000/month. The plurality—43%—were asking $5,000-$9,000/month, and the remaining 13% were priced higher.
Data source: Perchwell