I love living in Manhattan and can’t believe it’s been 14 years since I left Long Island for the Upper East Side! I had a terrific independent broker, of french canadian descent, a real “go getter” like me. I looked at many apartments and knew I found the one, the minute I walked in the door. On a high floor with open sky views, all the rooms were drenched with sunlight. It had this great eat-in kitchen with a huge window, and lovely crown moldings throughout. It was a doorman elevator building, on a quiet tree lined street just off Park Avenue, 2 blocks from an express subway stop. It was a very unique and incredible opportunity for a gal like me! The owner lived in Philadelphia and had sublet the apartment many years prior, before the building went Coop in the 80’s. Today, upper east side Coop Boards generally don’t permit sublets for longer than 2 years. The apartment was empty, as the elderly woman who had been living there, had passed; and it had the original kitchen from 1925. On the market for quite a while, I’m certain it was waiting for a person like me. You have to exploit great opportunities when they present! I hired a contractor to rebuild the kitchen, and I made 119 East 84th Street my new home! As a driven analyst working long hours, I cherished the thought of a 15 minute commute and viewed this as an incredible opportunity and great financial investment!
The city has changed considerably in 14 years. I am a huge fan of the NYPD and grateful to live in the safest big city in America. I feel very safe with an elite NYPD counterterrorism department who is actively involved with the FBI-led Joint Terrorism Task Force (JTTF).
http://www.politifact.com/truth-o-meter/statements/2013/aug/26/michael-bloomberg/michael-bloomberg-says-new-york-safest-big-city-us/http://www.washingtoninstitute.org/policy-analysis/view/defending-the-city-nypds-counterterrorism-operations
New York has leaped to the #2 position of venture capital technology investment, with $3.7 billion of investment in the first half of 2015. As of 2013, Google’s second largest office is now located here, along with Microsoft, Facebook, Twitter, and Apple. New York City’s Economic Development Corporation has launched an early stage Life Science’s funding initiative with multiple venture partners, committing to a minimum of $100 million to fund startups in the life sciences and biotechnology. Roosevelt Island will be home to a $2 billion graduate school of Applied Science, with the ultimate goal to transform New York City into the world’s premier technology capital. As an avid technology user, working in the trading technology space for the past 10 years, I’m thrilled about this New York City transformation! https://en.wikipedia.org/wiki/Silicon_Alley
As my long term goal is to live in Manhattan in retirement, I am especially grateful to live in a city that is home to three of the best hospitals in the country, New York-Presbyterian, NYU, and Mount Sinai Hospital. Let’s not forget Memorial Sloan Kettering, ranked #2 in the US for Cancer Care, and Hospital for Special Surgery, ranked #1 in Orthopedics. I applaud the recent change in speed limit from 30 to 25MPH, even though I must say it’s very difficult to adhere to that! The slower speed would add just 5 minutes to a drive the length of Manhattan, but could mean the difference between life and death if you’re a pedestrian hit by a car. I love the hustle & bustle of the city, but I also love the idea of trying to be a little safer, to ask people to slow down a little. That exudes integrity and thoughtfulness! http://health.usnews.com/best-hospitals/rankingshttp://time.com/3568281/nyc-speed-limit/
A lot has changed in my neighborhood. At the intersection of 86th Street and Lexington, in the heart of the former “Germantown”, the pace of gentrification has picked up. In 2006, low rise tenement buildings constructed in the 1920’s were torn down, and the upper east side’s first LEED-certified green building was built, the Lucida, a 21 story luxury high rise condominium aplomb with amenities. http://www.corcoran.com/nyc/NewDevelopments/Display/320 .
Across the street from the Lucida, demolition is scheduled to begin this month, to make way for a 20 story luxury condominium designed by HOK. Units will average over 2,800 square feet apiece, which is very large for New York City, but relatively normal for new condominium buildings on the Upper East Side. http://newyorkyimby.com/2015/06/revealed-1289-lexington-avenue-21-story-upper-east-side-condo-tower-designed-by-hok.html
Around the corner on East 88th Street between Lexington and Third Avenue, Tribeca based developer DDG has just started construction on a building set to become the tallest tower above 72nd Street. The 32 story structure will stand 521 feet tall, towering over most of its neighbors, with an average apartment size of 2,693 square feet. http://newyorkyimby.com/2015/07/ddg-breaks-ground-on-180-east-88th-street-the-upper-east-sides-future-tallest-tower.html
Gentrification has also resulted in many small businesses leaving, replaced by higher end food chains, drug stores, banks, and supermarkets galore! Of course many were excited when Fairway and Whole Foods finally arrived on the upper east side. In my little corner of the neighborhood, we still have a nice little haven of small business with Yorkville Copy Service, whose founder Billy has been the “Mayor” of our neighborhood for 40 years. Right around the corner we have the best Italian take out place in Manhattan, our beloved Mimi’s, whose phone number I have on speed dial.
Of course all great cities have their challenges as well. As we continue to build up and out to the surrounding city boroughs, our current level of infrastructure is clearly not sufficient to support this continued growth. In October 2015, breaking the previous record set a year earlier, the MTA’s New York City subway system saw 6.2 million straphangers in just one day. Upper east side residents will get some relief once the second avenue subway project is completed, but that’s one tiny piece of the problem. http://ny.curbed.com/archives/2015/12/11/nyc_subway_broke_its_singleday_ridership_record_in_october.php
Let’s not forget the looming issue of the Hudson river rail tunnel, which continues to be a huge problem for travel along the northeast rail corridor. This greatly impacts New Jersey Transit, who carried 65.7 million commuters in the first 9 months of 2015. This ranks second nationally, just behind the Long Island Rail Road at 73.9 million. LaGuardia Airport, severely outdated is also due for a major upgrade, scheduled to begin in 2016. This upper east side resident is certainly ready for this project to begin. Let’s get that party started! http://newyork.cbslocal.com/2015/12/07/gateway-project-hudson-river-tunnel-funding/ http://www.weny.com/regional-news/regional-news/laguardia-upgrade-072815
The final point I feel compelled to speak about, is the level of labor and talent necessary to support this great city, that we continue to build to new heights, from which we demand so much! Living and working here requires a certain level of motivation, intellect, and stamina. It’s not easy and it’s not for everyone. If we truly want to be the greatest city on the planet, if we want soaring skylines and soaring returns, we need to be creative, determined, and thoughtful about finding and motivating talent for all the roles we need, not just those at the top. If the final service rollout wobbles because the guy at the bottom of the pole doesn’t deliver, then what’s the point of bringing in the top tier team? Is that the return you’re looking for? Remember, “.. It’s Just A Shot Away…” https://www.youtube.com/watch?v=o42zmYN2_-k
Photo Credits: New Year’s Eve 2016 at the Iridium Jazz Club, Times Square NYC, Grammy Award Winner, multiple Grammy nominee, and platinum selling recording artist Macy Gray.
