Manhattan Valley

Nobody calls it Manhattan Valley, except maybe some planning wonk, or the NY Times search engine. It does actually have some geographical boundaries, as there really does exist a valley. Let's forget that though and map out what people think of when they hear that name, and why people should be thinking about it more...

Loosely, Manhattan Valley runs from north of 96th street on the westside, until 110 street when Morningside Heights begins. (Some people think it stops at 107th and Strauss Park. I'm talking loosely here).

There are those people who think that anything North of 96th street is Harlem. Not that there's anything wrong with Harlem, but it's just ignorance (and, I think, a little racism). Manhattan Valley still feels like an old time neighborhood. It's filled with musicians, and professors, and other relics of an upper middle class that can't really afford to live here anymore.

Manhattan Valley has always been less expensive than south of 96th street. There are signs though, that the gap is closing.

One dramatic change to the neighborhood has been the Ariel development on Broadway and 99th street. Not only did they permanently alter the skyline, but they have infused the neighborhood with a clientele hungry for amenities, restaurants, and something retail other than Duane Reade. (It's a shame that Oppenheimer Meats couldn't hold on, because I bet they'd make it now...). The retail climate along Broadway from 96th until say 105th (anchored by Henry's restaurant on one side and Silver Moon Bakery on the other) is pretty dismal. But I'd bet that will change over the next couple of years. On Amsterdam there are big retail stores and luxury rentals) rising on 99th street, and on Columbus from 97th-99th, it's a virtual strip mall with all the favorites--WHOLE FOODS, Modells(Welcome to suburbia!) Michaels arts and crafts (no strip mall should be without!). I think people will embrace it.

West of Broadway for the entire length of Manhattan Valley couldn't be prettier. West End Avenue has many significant buildings, as does Riverside Drive. My favorite is the Clebourne, on WEA (but built until Broadway) and 105th. It is the Grande Dame of WEA, built for rich people in 1912, on the site of the old Strauss mansion (who perished in the Titanic in 1912). Strauss Park is named for them as well...The Clebourne was referred to as the Dakota of the North.

East of Broadway is a block by block affair. There are some interesting pockets: Manhattan Avenue Townhouses, for example, and lots of apts between Broadway and Amsterdam. But there is also a lot of public housing, tenements and run down apts that give a gloomy feel to the area. Having said that, 455 CPW is a luxury condo that seems to do pretty well. I've already posted my feelings about Park West Village, which I think has tremendous value that will only increase.

Some people will not look above the 70's, and for others, school catchment is their biggest concern (although I've posted my opinion about buying for school placement as well...). I would argue that before buying in the over crowded, over hyped 70's or 80's, you give the 90's or the 100's a look see. BTW, both Riverside Park and Central Park are splendid in this area. North Meadow is where most of the ball fields are located (as well as Riverside park from 101 to 104th street). Sal and Carmines has the best pizza outside of Staten Island. Silver Moon Bakery has the best bread in Manhattan. Absolute bagels are sublime. Smoke is a renowned jazz club. Mama Mexico is a local favorite. The hummus at Samad's (111th, but work with me here) is unparalleled.

(Neighbors, feel free to add you thoughts to what's special about the area...)

Docks

R.I.P.

Schadenfreude

It's my favorite German term ever. In the movie business, it's part of one's every day work life. It means taking pleasure from other people's misfortune. Here's what i don't understand: people on the NY Real Estate blogs bubbling with schadenfreude over the downward market.

Some of it I get: the frustrated masses, long shut out of the real estate market, trying to raise a family in NY. It's the only place I know of where being middle class, or even Upper Middle Class, gets you almost nowhere. These people are positively giddy over the prospect of finally being able to afford a home.

Almost every post I read is either about A) the poster's total hatred of real estate brokers or B) How the market is still crashing and prices will reach absurd numbers not seen since the 80's. They relish every price drop, they snicker at every closing price.

But here's the thing: this country, their friends, their neighbors, their family...don't they know someone who is suffering? It's like they are echoing the sickly cries of Rush Limbaugh. They are hoping for the NY Real Estate Market to crash.

Aren't their 401K's affected? Haven't they lost a percentage of their net worth? I don't know one person in NY who hasn't been affected by the downturn in some real way. Aren't these people getting giddy at their own expense? At some point, isn't it bad taste to relish others misfortunes?

Isn't their hostility misplaced?