Greenwich Village is iconic downtown Manhattan. Pick any movie or TV show that takes place in Manhattan and you will find some reference to the Village. The neighborhood was formerly a haven for artists and bohemians and even though most of them can no longer afford the area, they left behind plenty of culture and character, not to mention dining and nightlife. The Village is perfect for those who want to live where they play.
Greenwich Village is located south of 14th Street; north of Houston Street; east of the Hudson River; and west of Broadway. From there, the Village is broken down into two neighborhoods. A third neighborhood, which was originally considered part of the Lower East Side and not part of the Village, lies to the East of Broadway (also between 14th and Houston Streets) and to the west of the East River. Those neighborhoods are:
Manhattan’s carefully planned street grid goes out the window in the West Village, which lies west of 7th Avenue. Its winding streets, hidden alleyways, secret courtyards, low-rise character, and cobblestoned streets might seem like they belong in Europe more than they do in America. That unique charm goes hand-in-hand with the seemingly endless array of world-class dining and nightlife options that the area has to offer. The West Village also affords a level of privacy and quiet that does is impossible to find elsewhere in Manhattan.
New construction in the West Village is rare thanks to historic districts and landmarks, while re-sales often have quirky layouts and trade for a high price per square foot compared to other neighborhoods in Manhattan. West Village buyers are buying the location above all else – and it’s hard to blame them. Many would buy here if they could match their needs to their budget.
Traditional Greenwich Village is found to the east of 7th Avenue and west of Broadway, roughly centered around New York University and Washington Square Park. The Village has something for everyone, from world-class wealth along Fifth Avenue to the most affordable of starter apartments on Thompson and Sullivan Streets. In addition to NYU, the Village is also home to the New School, another elite and private research university. Progressive and artistic minds have been drawn to these campuses for nearly two centuries, leaving a lasting impression on the neighborhood’s character.
Greenwich Village buyers can expect to pay less per square foot than in the West Village, although homes in the Village proper can be much larger. The average home price in Greenwich Village is higher than in its West Village counterpart thanks to the size differences. New construction is also more common than in the West Village, but still heavily restricted.
East of Broadway, stretching all the way to the East River, is known as the East Village. Its low-rise buildings, endless nightlife, and being home to Thompkin’s Square Park (the eastern counterpart to Washington Square Park) invoke a similar feeling to the Village proper, but with a much more grungy and raw character. The East Village is currently undergoing a rapid transformation and the mix of old and new is what draws people in. Don’t be surprised to find $2 fried hot dogs next door to a bar with cocktails starting at $20.
The East Village is more affordable than Greenwich Village – and the rest of downtown Manhattan – by every measure. There are more new construction options, too. It’s the perfect place for those who want to live downtown where they will be close to the action, but who would rather buy a new condo than a charming re-sale. As a traditionally poor neighborhood, there isn’t a market yet for trophy homes in the East Village… but that could change very soon.