The tale of two Upper East Sides

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From the December issue: As the uber-wealthy continue to jockey for apartments worth tens of millions of dollars on the Upper East Side, not everyone in the notoriously tony neighborhood is faring as well. While the highest-end properties are in strong demand, brokers interviewed for The Real Deal's monthly Q & A also noted that lower- end co-ops are lagging some, mid-range buyers will no longer stand for overpriced apartments, and, in some case, sellers have lowered their price expectations. While singling out the far East Side as the hardest-hit part of the Upper East Side market, overall lack of inventory in the neighborhood is helping some to keep prices up. more By Melissa Dehncke-McGill

 

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