NEW YORK (CBSNewYork) — Move over, DUMBO, SoHo, TriBeCa and NoLIta – the latest “it” neighborhood is called NoMid.
As CBS2’s Dick Brennan reported, tourists and locals alike have flocked to the area to eat, shop and even sleep.
“NoMid offers this accessibility point that you can’t get in some of the major enclaves of Manhattan,” said real estate broker Scott Stewart of the Corcoran Group.
NoMid – short for North of Midtown — is the stretch of blocks on the East Side running from 50th Street to 63rd Street and between Second and Fifth avenues.
Once considered no-man’s land, NoMid is now considered one of the hottest new neighborhoods in town, according to Paul Brady of Condé Nast Traveler.
“Five years ago, we all thought of Midtown Manhattan a dreary, 9-to-5, kind of grind-it-out office place, and now it’s very cool,” Brady said.
NoMid is home to one of the hottest tables in town – at the Polo Bar, 1 E. 55th St. Unless you’re a known VIP there, it’s nearly impossible to get a table.
“We’re not just calling it the ‘it’ neighborhood because there’s one hotel opening,” Brady said. “We’re calling it that because there’s great hotels, there’s great retail, there’s great street life.”
On East 53rd Street is the new Baccarat Hotel — named for the glittery crystal brand — where room rates start at $729 a night.
Right around the corner on Fifth Avenue, one can find every major retailer, from Saks to Tiffany’s. And upon its completion, 432 Park Ave. at East 57th Street will be the tallest residential tower in the western hemisphere.
“I have many clients who are looking at the East 50s because of the resurgence and the redevelopment of that area,” Stewart said.
Stewart said NoMid has traditionally been ignored by residential developers — but not anymore.
“We’re at 200 East 62nd Street and this apartment is just under 1,700 square feet, and it’s priced just under $3 million for two bedrooms and two and a half bathrooms,” Corcoran said.
And believe it or not, that is considered a bargain. Stewart said land is actually cheaper on the East Side, so potential buyers can get more bang for their buck.
“The luxury market exists in NoMid in many different price points,” Stewart said.
Couple that with its proximity to jobs, restaurants and Central Park, and you’ve got a neighborhood that’s now booming. Residents said the coming Second Avenue Subway is also contributing to the popularity of the neighborhood.