Photo via Ed Yourdon/Flickr
‘Tis the time of year for private school acceptance letters to arrive. Nervous teens and parents race to their inboxes and find out if they are given the honor of spending upwards of 50k a year on their children’s education, often at one of the Upper East Side’s highly prestigious institutions. At the same time, the starting gun sounds on the race to find an Upper East Side home to move to near school.
amNY reported that with the “private school bump,” not only do buildings see a jump in families moving their primary residences to the area but many see NYC residents buying “little studios for them and their kids for Monday through Friday just to be closer to the school so they don’t have to commute from Tribeca, the Lower East Side, or Chelsea.”
Hear from the pros
Plans for a Second Avenue subway have been on the drawing boards since flapper dresses were all the rage. But not until now has this pipeline dream started to take shape.
One of the hottest discussions among the locals is undoubtedly the new line, and according to the MTA, 65 percent of Phase I is now complete. When it debuts in December 2016, it is slated to carry 200,000 straphangers, which in turn will reduce overcrowding on the Lexington Avenue Line by as much as 13 percent (that’s 23,500 fewer passengers on an average weekday). Phase II will extend the line from 96th to 125th Street, and the MTA just announced that $1.5 billion (only a third of the total estimated cost) is now set aside with the hope that the federal government will chip in, too. But those who wonder when the 8.5-mile stretch of tracks (125th Street to Hanover Square), you’d better hold onto your hat—it’s 2029! Though this is still 15 years away, that hasn’t stopped the prices of properties flanking the SAS from riding high in anticipation.
Why buyers are looking at construction workers starry-eyed