W 58th St / Grand Army Plz median real estate price is $3,018,857, which is more expensive than 98.2% of the neighborhoods in New York and 99.5% of the neighborhoods in the U.S.
The average rental price in W 58th St / Grand Army Plz is currently $6,778, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.0% of the neighborhoods in New York.
W 58th St / Grand Army Plz is a densely urban neighborhood (based on population density) located in New York, New York.
W 58th St / Grand Army Plz real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the W 58th St / Grand Army Plz neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in W 58th St / Grand Army Plz. The current real estate vacancy rate here is 44.4%. This is higher than the rate of vacancies in 98.1% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the W 58th St / Grand Army Plz neighborhood have a highly unusual car ownership. 84.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
Real Estate
The real estate in the W 58th St / Grand Army Plz neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 98.2% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.7% of American neighborhoods.
In addition, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 44.4% of the residential real estate vacant, the W 58th St / Grand Army Plz neighborhood claims the distinction of having a higher vacancy rate than 98.1% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Furthermore, the W 58th St / Grand Army Plz neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 91.6% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Also of note, the W 58th St / Grand Army Plz neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 40,151 persons per square mile in the neighborhood, it is more packed with people than 97.9% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The W 58th St / Grand Army Plz neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Occupations
Executives, managers and professionals make up 82.7% of the workforce in the W 58th St / Grand Army Plz neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.5% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Modes of Transportation
In the W 58th St / Grand Army Plz neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 29.7% of residents here. This is a higher proportion of walking commuters than we found in 99.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 29.5% of the W 58th St / Grand Army Plz neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.1% of America's neighborhoods.
People
Think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the W 58th St / Grand Army Plz neighborhood: a neighborhood in which more "urban sophisticates" live than 99.0% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
In addition, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.7% of America's neighborhoods are wealthier than the W 58th St / Grand Army Plz neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the W 58th St / Grand Army Plz neighborhood, where 41.3% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 97.5% of the neighborhoods in America.
Finally, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 52.3%. This is a higher percent living alone than we found in 96.7% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Diversity
Did you know that the W 58th St / Grand Army Plz neighborhood has more Eastern European and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.1% of this neighborhood's residents have Eastern European ancestry and 3.2% have Lebanese ancestry.
W 58th St / Grand Army Plz is also pretty special linguistically. Significantly, 2.0% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the W 58th St / Grand Army Plz neighborhood in New York are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 98.3% of the neighborhoods in America. In addition, 6.9% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 58.8% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the W 58th St / Grand Army Plz neighborhood, 82.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 11.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.4%).
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the W 58th St / Grand Army Plz neighborhood is English, spoken by 70.9% of households. Other important languages spoken here include Spanish, French, Arabic and Korean.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the W 58th St / Grand Army Plz neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (16.8%). There are also a number of people of Italian ancestry (12.4%), and residents who report Polish roots (7.5%), and some of the residents are also of Russian ancestry (7.3%), along with some Irish ancestry residents (7.1%), among others. In addition, 37.3% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in W 58th St / Grand Army Plz neighborhood spend between 15 and 30 minutes commuting one-way to work (47.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (29.7%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (29.5%) and 6.0% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
