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More on Upper Fifth’s New Look

// Jan 19, 2012

The New York Condo Blog is the latest publication to take notice of the transformation going on around Central Park along Upper Fifth Avenue, and they spoke with CORE founder and CEO Shaun Osher about the changes, as well as CORE’s new luxury development in the neighborhood, 1280 Fifth Avenue. Here’s Osher’s response to a question about the “stigma” surrounding properties above 96th Street on the Upper East Side:

Manhattan neighborhoods are always evolving. 96th Street is an antiquated border that once denoted the northern boundary of the Upper East Side. Central Park is just as lush and green above 96th Street as it is below, and the architecture is equally as impressive. Both developers and savvy buyers recognize the value of having a Fifth Avenue address with direct park views, access to Central Park and presence along Museum Mile. It is that opportunity that is driving the growth along Upper Fifth Avenue, the newest in a long line of well-known neighborhoods that have evolved such as the Upper West Side, Chelsea, SoHo, and the Meatpacking District – all neighborhoods that are now among the most coveted in New York City.

“Opportunity” is a key word. As the Financial Times wrote, prices on Upper Fifth can be 25% to 50% below what’s asked south of 96th Street. For a look at some listings at 1280 Fifth, click here.

Original Article: