What should a New York City Co-Op Board of Directors be doing? And just as importantly, what SHOULDN’T they be doing? Of course, the majority of any
What are the main differences between Manhattan’s Upper East Side and Upper West Side?
I find Ben’s answer interesting and on the money.
Speaking of money, that is really where the main difference lies, and below are a few examples.
While the current median price per apartment (according to StreetEasy as of Nov 1, 2016) is an equal $1.1M both on the UES and the UWS, the two neighborhoods are very different when it comes to real estates. There are currently 33 listings for sales above $30M on the UES. On the UWS there are 7.
UES is virtually divided in two areas; one part that is relatively affordable (for Manhattan) east of Lexington Ave., and one part with some of the most expensive real estate in the country; specifically on Fifth Ave. , Madison Ave., and Park Ave., and the perpendicular streets from 60th to 86th. Many of the prime UES co-ops will, besides a very rigorous vetting processes including fully disclosed financials and board interviews, not only require that any buyer pays 100% of the sales price in cash (no financing allowed), but will also require the buyer to have the same amount, or double, or triple, in liquid funds in the bank at closing.
Real Estate on the UWS is a bit more evenly allocated, with exception of the prime co-ops directly on Central Park West facing Central Park.
The majority of New York City’s private schools are located on the UES; Spence, Dalton, Loyola, Marymount, Hewitt, Buckley, Chapin, Brearley, and Browning.
The UWS is not without coveted private schools. Here you find Calhoun, Trinity, Dwight and Collegiate.
Madison Avenue on the UES, that a little more than one generation ago was the service street for Park and Fifth Ave. and lined with grocers, butchers, and dressmakers, is now home to the most high end (and expensive) fashion boutiques in the city. This is where you find Chanel, Hermes, Tom Ford, Ralph Lauren, Brioni, Valentino, D&G, Jimmy Choo, and many more.
The stores on the UWS is more targeted to the mass market; J Crew, Banana Republic, BCGB, Theory, Club Monaco.
You have great food shopping on the UWS: Wholefoods, Citarella, Fairways and Zabars, and a wide choice of fun, affordable restaurants along Columbus and Amsterdam Avenues.
On the UES your choice for good grocery shopping, besides Citarella and Eli’s, dwindles quickly down to high end specialty stores, but if you are lucky you can stumble across a small weekend farmers market towards York Ave. A wide array of eclectic restaurants can be found east of Third Ave. In the prime UES areas, as long as your wallet is thick enough and you look the part, you can rub elbows with the who’s who of NY’s rich and powerful at Le Bilboquet, Avra Madison, Vaucluse, Rotisserie Georgette, Il Mulino, Nello, Kappo Masa, the Carlyle, and even enjoy Michelin Star awarded fares at Daniel.
Art and Museums
Even though you have wonderful museums like the Museum of Natural History, American Folk Art, New York Historical Society and the Children’s Museum on the UWS, the UES is home to Museum Mile, on Fifth Avenue from 82nd Street to 104th Street where you find; The Metropolitan Museum of Art, the Guggenheim, Neue Galleri, the Cooper Hewitt National Design Museum, the Jewish Museum, Museum of the City of New York and El Museo del Barrio.
There are also a great number of privately owned art galleries, antique stores and auction houses on the UES.