Lower East Side
Downtown’s final frontier lies south of Houston and east of Bowery in the Lower East Side. What was once a traditionally poor neighborhood – skipped over in the 1960’s and 1970’s by many of the artists who flocked to the Village, Tribeca, and Soho – is quickly becoming more and more like the rest of modern downtown Manhattan, with new construction coming seemingly every day.
The Lower East Side (LES) covers a huge chunk of downtown Manhattan: it’s roughly as big as Soho and Tribeca combined. The area north of (and including) Delancey Street and south of Houston Street is known for being jam-packed with nightlife and dining. Take a walk on one of these streets after 9 PM and you will see why. If you’re looking for peace and quiet, then you can find it to the south of Delancey, where you will only be a short walk away from the action. The neighborhood is not known for elegant architecture – the LES is home to the Tenement Museum, and tenements are small, five-story rental buildings with 20 apartments and no elevator – meaning luxury buyers will be looking at new construction almost exclusively. On the flip side: the LES is home to some of the most affordable starter apartments in Manhattan.
New construction is very common as the LES does not have historic district restrictions (the Lower East Side Historic District is actually in today’s East Village, which was once considered part of the LES). Sales prices are generally lower in the LES than they are almost anywhere else below 14th Street. Buyers looking for value are sure to find it here. The only downside is the relative lack of transportation, although the F, J, M, and Z train lines are four more lines than you can find in the East Village.
Between the Manhattan and Brooklyn Bridges lies a mini-neighborhood called Two Bridges, which looks and feels exactly the same as the rest of the LES, except it’s between two bridges. Not that we’re complaining: how could you NOT make a name out of that?
Two Bridges is experiencing a massive construction boom with thousands of new construction apartments – a healthy mix of both rentals and condos – coming to the market over the next few years. Buyers looking for new at affordable prices, and who aren’t quite yet ready to venture into Brooklyn or Harlem, should look here first. Contact us today and let us show you!