We hear about it on the streets of New York City over and over again. Charming, even attractive, the Lower East Side – the LES for the 73,960 people who already live there (2018 figures) – emerged from a difficult past and a mixed reputation, thanks to rapid gentrification in the 2000s. With a cultural heritage inherited from waves of Italian, Polish and Ukrainian, Irish then Puerto Rican and Dominican immigrants, the district now concentrates a variety of restaurants and shops in this image. The ride will please you…
The Lower East Side, a New York neighborhood to live and love
For dummies in geography (and because it is important to know who our neighbors are), the Lower East Side is bordered by East Houston Street to the north, Canal Street to the south, Bowery and the district of Nolita to the west and East River to the east. The nearest metro lines include lines J, F and M.
Introductions over with, you will find in the LES a multitude of activities and attractions.
The area has some superb and historic museums, such as The Tenement Museum on Orchard Street, which tells the story of the many immigrants who settled on the Lower East Side. You can visit restored apartments in two historic buildings to see what life was like for these families. A little further, the New Museum, on Bowery, presents itself as “the only contemporary art dedicated museum in Manhattan“. There are also dozens of smaller art galleries in the neighborhood – many focusing on contemporary art – including Canada on Broome Street, the Marc Straus Gallery and the Nathalie Karg Gallery on Grand Street.
The Lower East Side is home to some of New York‘s most exclusive markets and a large number of independent stores. Be sure to visit the famous Essex Street market, which offers a collection of the best gourmet culinary products. And for those with (very) sweet teeth, they should already know of Economy Candy on Rivington Street.
The original mix of university students and professionals creates a dynamic and youthful atmosphere. It is therefore the ideal neighborhood for those looking to work all day and relax (or party all night).
The Lower East Side real estate market
Old and new, you will have both at LES.
Brick buildings and those with a slightly “grunge” look bear witness to the neighborhood’s past and rub shoulders with newly built luxury condos. The neighborhood is undergoing major redevelopment and sees brand-new constructions regularly emerge from its land.
New developments include: 196 Orchard St., a building of 94 condo units with a two-story fitness center and spa, as well as a 400-square-meter rooftop terrace; 150 Rivington St. – a seven-story building with 45 condos, a rooftop terrace, a fitness center and a terrace for your morning yoga -; and 242 Broome St., a 14-story, 55-unit condo building in Essex Crossing.
The average selling price in the first quarter of 2018 was $ 2,265,789. This represents a 157% increase over the same period of the previous year, when the average price was $881,840, and a crazy increase of 274% compared to the first quarter of 2013, when the average price was $606,333. When we tell you to hurry up….
A quick search reveals that there have been an average of 165 properties on the Lower East Side for sale in recent months, ranging from $400,000 (35 m2 room) to $15,595,000 (5,220 m2 condo). So, contact your BARNES consultant, specialist in the Lower East Side, to find the property of your dreams in this district.