The real estate market in NYC is a funny thing, especially within the townhouse sub market. My focus is the sale of townhouses, in the East 80s, Yorkville to be exact; an area North of 79th to 96th Street from Third Avenue to the East River. Yorkville, always seen as diverse and more relaxed than some of the surrounding neighborhoods was at one time predominantly Eastern European immigrants, portions referred to as Irish town to the West and along East 86th Street, referred to as "German Broadway." You can still find a sense of history along Second Avenue south of 86th Street with many German restaurants and markets like Schaller and Weber, which has been around since 1937. Yorkville was always a middle class, working class area, and comparatively more affordable. I have always felt a buyer could get good value in Yorkville in the context of high-end luxury real estate. What would be easily double the price West of Park in the 80's could be found in Yorkville much more affordably. With the addition of a planned garbage transfer station in the works for 91st street and York, more and more buyers saw that as reason to move as far south and West as possible, another reason why some buyers might have been hesitant to invest here.
That's all about to change soon though. Suddenly talk of the transfer station, while still happening, has subsided and with the new Second Avenue subway station in full force with entrances on 83rd and second, buyers are slowly recognizing that perhaps they don't need to necessarily be West of Park anymore. Easier commuting and less of a sense of isolation from everything else is due to catapult this neighborhood sooner than we think. The moral of this story is if you are considering buying now don't overlook Yorkville because it's too Far East. Stay open, because what has always separated this quiet neighborhood from the rest of the Upper East Side is slowly dissolving.