Turtle Bay Projected to Be NYC’s Hottest Nab in 2023

It looks like Turtle Bay—yes, that Turtle Bay—will be the hottest neighborhood in New York City in 2023.

No, not trendy Williamsburg in Brooklyn—or even the parts of downtown Manhattan where the cool kids hang out. Turtle Bay, which is located east of Lexington Avenue and between East 42nd and East 53rd Streets – and is known as the home of the United Nations and the Chrysler Building – was traditionally considered seedy and used as a place to live. I was ignored. But now, it has a new future in store.

New one Study by Listing Portal StreetEasy suggests that New Yorkers are now looking for places within walking distance of their offices – not to mention the potential scare, to avoid long commutes subway ride,

Turtle Bay — itself a sub-neighborhood of Midtown East — has been popular among buyers and renters recently, with strong demand driving a 25% median asking price to $992,500 through mid-2021, the study notes.

It is also the neighborhood which boasts of a 47% jump in housing searches from 2021 to 2022, the report said.

road easy
Turtle Bay is also home to the United Nations.
Turtle Bay is also home to the United Nations.
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In what was initially one of the cheaper options, interest in the neighborhood has since skyrocketed with prices. But still pretty reasonable compared to other areas of Manhattan.

Meanwhile, the borough-wide median sale price is $1.1 million, according to third-quarter data from Miller Samuel and Douglas Elliman.

The median asking rent in Turtle Bay has also reached $4,000 per month – a 33% increase over the past year. That’s roughly what renters across Manhattan are currently paying after factoring in the concessions, Elliman’s report says — and in a year when the city’s rents hit record highs and stagnated.

Second hottest neighborhood?

Bushwick in Brooklyn. Primarily for those working from home, this neighborhood is located on the outskirts of Williamsburg and is significantly cheaper – making it a more desirable option.

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