The Expensive Neighborhoods and Apartment Buildings Where Millionaires and Billionaires Live in New York City
New York City, with its towering skyscrapers and bustling streets, remains one of the most expensive cities in the world for living. For the elite, whether they are millionaires or billionaires, finding a desirable place to call home is a significant challenge. Here, we explore the most luxurious neighborhoods in Manhattan where the wealthy congregate, providing an in-depth look at their distinguishing features and amenities.
Upper East Side
The Upper East Side, characterized by its grand avenues and wealthy residents, is a prime location for millionaires and billionaires. This area, bounded by 59th to 96th streets on the south and north, and Fifth to Lexington Avenues on the west and east, exudes an air of luxury and tranquility.
Specifically, the stretch between 79th and 90th streets along the East River is a sought-after area, featuring some of the most expensive properties in the city. Cross streets like 72nd, 79th, and 86th Fifth to Park Avenues and First to East End Avenue also have their share of high-end apartments.
The Second Avenue subway, which provides a more convenient connection to downtown, has spurred the development of several high-rise luxury buildings in this area. The influx of these modern structures adds to the vibrant yet exclusive character of the Upper East Side.
Sutton Place
Just south of the Upper East Side, Sutton Place offers a more contained and relatively quieter community. Nestled along 57th Street from Second Avenue to the East River, this area includes a few blocks around Sutton Place itself.
Sutton Place is home to a mix of apartment houses and private homes, making it a desirable option for those seeking a close-knit community with a touch of exclusivity.
Upper West Side
The Upper West Side offers a balance of luxury and charm, making it palatable to the rich and famous. High-end apartments can be found along Central Park West from 59th to 96th streets, along with the streets of 72nd, 79th, and 86th.
Notably, the stretch along Riverside Drive and West End Avenue, which extends to 110th street, attracts the most well-heeled residents. The area remains economically mixed due to the presence of more modest apartments and older tenements.
Billionaires Row
Billionaires Row, located between Central Park South and Central Park West, has a distinctive character. The eastern buildings, notably those along Fifth and Sixth Avenues, are characterized by their height and luxury.
The name "Billionaires Row" was coined over the past decade due to the construction of several hyper-tall apartment buildings, mostly between Sixth and Eighth Avenues. Despite the influx of luxury living, the area remains predominantly commercial.
Tribeca and Soho
Tribeca and Soho, known for their artistic heritage, are now famous for their blend of old industrial buildings and modern luxury developments. This area, located between Chambers and Houston Streets, west of Broadway, was once an industrial zone but has since been repurposed into a vibrant residential district.
The original loft buildings, transformed into artistic dwellings, now cater to the affluent class with their unique charm and creative atmosphere.
Greenwich Village
Greenwich Village, with its quaint charm and famous residents, is another prime location for the-rich-and-famous. The area, bounded by Broadway on the east, 14th Street on the north, Houston Street on the south, and the Hudson River on the west, impresses with its eclectic mix of small private houses and apartment buildings.
Since the Village's designation before the street grid plan, its streets don’t align with the rest of the island, adding to its unique character.
Chelsea
Chelsea, with its diverse character, has transformed into a desirable residential area. This area, characterized by its art galleries, performance spaces, and middle-income housing, offers a mix of luxury apartments and modest living spaces.
Between 14th and 23rd Streets, Chelsea has its own unique charm, especially with the development of the Chelsea Piers sports and sightseeing complex, the High Line park, and the addition of new apartments and old buildings renovated for modern living.
Financial District
The Financial District, historically a commercial epicenter, has evolved to offer luxury living options with the renovation of iconic buildings like the Woolworth Building into high-end apartments.
With fewer large office spaces needed, many former office buildings have been repurposed into residential units, providing a mix of historic charm and contemporary living spaces.
Morningside Heights
Morningside Heights, an elevated area on the west side between the Upper West Side and Harlem, offers a serene environment with the luxury apartments along Riverside Drive surrounded by Columbia University, Barnard College, and other prestigious institutions.
This area, stretching from 110th to 120th Streets along Riverside Drive, provides a perfect blend of rarefied living and academic vibrancy. The grandeur of the apartment buildings is matched by the presence of Riverside Church and the nearby Grants Tomb.
These ten neighborhoods are where the majority of millionaires and billionaires in New York City reside. Given the unique characteristics and development trends in each area, these locations offer a range of living experiences tailored to the preferences of the wealthy.