{"id":43408,"date":"2024-04-11T16:48:59","date_gmt":"2024-04-11T13:48:59","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=43408"},"modified":"2025-07-31T14:30:30","modified_gmt":"2025-07-31T11:30:30","slug":"the-park-premium-cost-of-buying-next-to-manhattans-largest-parks","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2024\/04\/11\/the-park-premium-cost-of-buying-next-to-manhattans-largest-parks\/","title":{"rendered":"The Park Premium: Do You Pay Extra to Buy Next to Manhattan\u2019s Largest Parks?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Key Takeaways:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong>most expensive park frontage<\/strong> in Manhattan is Hudson River Park\u2019s Chelsea side at $4.54 million<\/li>\n\n\n\n<li>At a median $389,000, Manhattan\u2019s <strong>most affordable park frontage<\/strong> can be found around Inwood\u2019s Isham Park<\/li>\n\n\n\n<li>With a surcharge of $3.12 million compared to neighborhood median, Chelsea units bordering Hudson River Park command <strong>the highest premium<\/strong><\/li>\n\n\n\n<li>At a discount of $1.22 million, Central Park\u2019s frontage in Central Park South has <strong>largest price cut <\/strong>between the first row of buildings bordering a park and the overall neighborhood<\/li>\n\n\n\n<li>Most Manhattan parks have <strong>higher costs for units in the first row of buildings<\/strong>, although some feature lower prices compared to the rest of the neighborhood<\/li>\n\n\n\n<li>Central Park has the <strong>widest park proximity cost<\/strong> in Manhattan: Its Central Park South side is $1.22 million below the neighborhood median, while its Central Midtown frontage is $3.11 million pricier than the rest of the neighborhood <\/li>\n<\/ul>\n\n\n\n<div style=\"height:28px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Most New Yorkers are within a 10-minute walk of one of the city\u2019s 2,000 parks, and Manhattanites, in particular, enjoy access to more than 160+ public parks. But <strong>how much does it cost to buy a home next to Manhattan\u2019s largest parks? <\/strong>As it turns out, it will run you anywhere from $389,000 to more than $4.5 million.<\/p>\n\n\n\n<p>So, to see<strong> how much more you\u2019d have to pay compared to the rest of the neighborhood<\/strong> \u2014 <strong>or how much less, in rarer cases <\/strong>\u2014we looked at all Manhattan parks of at least 10 acres, considering only those that had at least five residential sales in the first row of buildings next to the park in the last 12 months<strong>.<\/strong> For parks that are bordered by multiple neighborhoods, we determined separate median sale prices for each neighborhood, as well as the first row of buildings next to the park for each neighborhood.<\/p>\n\n\n\n<p>Of the 15 Manhattan parks that met our criteria, <strong>eight parks commanded higher prices in the first row of buildings next to the park, five had lower prices and one <\/strong>(Tompkins Square Park) <strong>had no noticeable differences<\/strong>. Manhattan\u2019s largest green space, <strong>Central Park, stood out with somewhat mixed trends<\/strong> as prices were higher in buildings overlooking it in eight of its border neighborhoods, yet lower in one surprising area \u2014 Central Park South.<\/p>\n\n\n\n<p>Overall, <strong>a unit in the first row of buildings next to Manhattan\u2019s largest parks can cost as much as $3.12 million more than the neighborhood median<\/strong>. At the opposite end of the spectrum, buying next to one the largest parks in the borough can also be $1.22 million cheaper than the rest of the neighborhood.<\/p>\n\n\n\n<p><em>Explore the interactive table at the bottom of the page to see the cost of living next to Manhattan\u2019s largest parks.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Carl_Schurz_Park\"><\/span><strong>1)    <\/strong>Carl Schurz Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Carl-Schurz-Park.png\" alt=\"\" class=\"wp-image-46325\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Carl-Schurz-Park.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Carl-Schurz-Park.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Carl-Schurz-Park.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>This 15-acre, riverside park was converted from a private estate to a public park back in 1896 and renamed in 1910 after statesman and journalist Carl Schurz. The park is also one of the most dog-friendly in the city and is home to the 1799-built Gracie Mansion, which has served as the official residence of NYC mayors since 1942.<\/p>\n\n\n\n<p>However, buyers looking to become near-neighbors with the mayor pay <strong>a hefty 99% premium<\/strong>. Specifically, the average median sale price of Yorkville stood at $865,000 in the last 12 months, while <strong>the median sale price in the first row of buildings next to Carl Shurtz Park was twice as expensive at $1,725,000<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Central_Park\"><\/span>2)    Central Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Central-Park_1-1.png\" alt=\"\" class=\"wp-image-46309\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Central-Park_1-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Central-Park_1-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Central-Park_1-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>The most widely known NYC park, Central Park\u2019s 840 acres stretch it across nine neighborhoods with vastly different characters and price points, including some of the city\u2019s most expensive. As such, <strong>units in the first row of buildings next to Central Park range from medians of $776,000<\/strong> on the park\u2019s Manhattan Valley Side <strong>to as high as $4.5 million<\/strong> along its Central Midtown frontage. In fact, buildings bordering the park had medians of $3 million and above in four neighborhoods. \u00a0<\/p>\n\n\n\n<p>Additionally, <strong>Central Park\u2019s Midtown frontage<\/strong> was one of just two cases where the first row of buildings had a median sale price $3 million higher than the neighborhood median. At the same time, CentralPark\u2019s East Harlem frontage had the highest premium in terms of percentage with units in the first row of buildings selling for 3.5 times the neighborhood median: $2,073,000 versus $590,000.<\/p>\n\n\n\n<p>Conversely, the park\u2019s <strong>Central Park South frontage saw units in the first row of buildings<\/strong> closest to the park sell for $1.4 million in the last 12 months\u2014<strong> representing a 47%<\/strong>or <strong>$1,218,000 reduction<\/strong> compared to the $2.62 million neighborhood median. Those were the sharpest discounts both in percentages and dollar amounts between park-side buildings and the rest of the neighborhood, a result of the neighborhood\u2019s much higher priced luxury buildings being developed further inland from Central Park.<\/p>\n\n\n\n<iframe title=\"Central Park\" aria-label=\"Table\" id=\"datawrapper-chart-RjP4I\" src=https:\/\/datawrapper.dwcdn.net\/RjP4I\/1\/ scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"460\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n\n<\/script>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Danny_Farrell_Riverbank_State_Park\"><\/span><strong>3)    <\/strong>Danny Farrell Riverbank State Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Riverbank-State-Park-1.png\" alt=\"\" class=\"wp-image-46322\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Riverbank-State-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Riverbank-State-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Riverbank-State-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>A unique, multi-level park by the Hudson River, the 28-acre Danny Farrell Riverbank State Park is home to a wide range of sports facilities, including a 2,500-set athletic center, swimming pools, and an eight-lane running track, as well as an 800-seat indoor theater, 400-seat waterfront amphitheater and a covered roller\/ice skating rink.<\/p>\n\n\n\n<p>Nowhere near as pricey as Central Park\u2019s Harlem frontage, units in the first row of buildings next to Riverbank State Park sold at a $470,000 median during the last 12 months. That meant that savvy <strong>buyers paid 18% less for park-side units <\/strong>than the average Harlem homebuyer, <strong>saving $105,000<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Fort_Tryon_Park\"><\/span><strong>4)    <\/strong>Fort Tryon Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Fort-Tryon-Park-1.png\" alt=\"\" class=\"wp-image-46310\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Fort-Tryon-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Fort-Tryon-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Fort-Tryon-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>Gifted to the city in 1935 by John D. Rockefeller, the 66-acre Fort Tryon Park includes Manhattan\u2019s largest dog run; NYC\u2019s largest unrestricted public garden; and the Met\u2019s Cloisters, which feature more than 5,000 medieval art pieces.<\/p>\n\n\n\n<p>Notably, buyers looking for proximity to green spaces by the Hudson River pay slightly less than the average Washington Heights resident with units in the first row of buildings selling for 8% less. So, while the 12-month rolling median sale price in Washington Heights was $514,000, <strong>units right next to Fort Tryon Park traded for $475,000 or $39,000 less<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Fort_Washington_Park\"><\/span><strong>5)    <\/strong>Fort Washington Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Fort-Washington-Park-1.png\" alt=\"\" class=\"wp-image-46311\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Fort-Washington-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Fort-Washington-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Fort-Washington-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>Home to NYC\u2019s only lighthouse, hiking trails, waterfront access points, dog runs, diverse landscapes and views of the New Jersey Palisades Cliffs, Fort Washington Park covers 160 acres in Washington Heights.<\/p>\n\n\n\n<p>However, unlike Fort Tryon, <strong>Fort Washington Park commanded 15% higher prices<\/strong> in the first row of buildings bordering the park: Units sold here at a median price of $590,000 \u2014 or $76,000 more than the overall neighborhood.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_Hudson_River_Park\"><\/span><strong>6)    <\/strong>Hudson River Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Hudson-River-Park-1.png\" alt=\"\" class=\"wp-image-46312\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Hudson-River-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Hudson-River-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Hudson-River-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>Created in 1998 through the redevelopment of Manhattan\u2019s derelict industrial waterfront, Hudson River Park today offers 550 acres of green and recreational space along four miles of the Hudson River. And, because it\u2019s surrounded by some of the most expensive NYC neighborhoods, buildings bordering the park have some of the highest prices in the city. \u00a0<\/p>\n\n\n\n<p>For example, <strong>the first row of buildings bordering Hudson River Park in Chelsea have the most expensive park-side units in Manhattan<\/strong> at a median sale price of $4,538,000 \u2014 more than three times higher than Chelsea\u2019s $1,425,000 median in the last 12 months. In fact, at $3,123,000, Chelsea\u2019s Hudson River Park frontage commands the highest premium in the entire borough.<\/p>\n\n\n\n<p>Meanwhile, <strong>the park\u2019s TriBeCa frontage reached a median of $4,255,000 (the borough\u2019s third highest)<\/strong> with a 44% premium (adding about $1.31 million) compared to TriBeCa itself. At the same time, the park\u2019s West Village frontage had the lowest price at $3,355,000, which was still 2.5 times higher than the neighborhood median.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_Inwood_Hill_Park\"><\/span><strong>7)    <\/strong>Inwood Hill Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Inwood-Hill-Park-1.png\" alt=\"\" class=\"wp-image-46313\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Inwood-Hill-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Inwood-Hill-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Inwood-Hill-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>One of the most natural parts of Manhattan, the 196-acre Inwood Park is home to large swaths of dramatic landscapes, including glacial caves, the borough\u2019s last natural forest and a salt marsh \u2014 the driving factor for the park\u2019s bald eagle release program.<\/p>\n\n\n\n<p>Even so, buyers looking for quick access to one of Manhattan\u2019s most wild areas can do so with minimal extra costs: Residential <strong>units bordering Inwood Hill Park sold at a $410,000 median \u2014 just $8,000 more (+2%) than Inwood\u2019s median<\/strong> sale price in the last 12 months.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_Isham_Park\"><\/span><strong>8)    <\/strong>Isham Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Isham-Park-1.png\" alt=\"\" class=\"wp-image-46314\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Isham-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Isham-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Isham-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>Right across Seaman Avenue from Inwood Hill Park, the 20-acre Isham Park covers the former Isham estate. Assembled through land donations from the Isham family, its elevation offers vast views of the Harlem and Hudson River valleys. \u00a0<\/p>\n\n\n\n<p>Buyers looking to move to Inwood and enjoy immediate proximity to green spaces can get a better deal here than near Inwood Hill Park and spend around $21,000 less. Specifically, units in the <strong>first row of buildings next to Isham Park sold at a median $389,000 <\/strong>in the last 12 months \u2014 <strong>3% cheaper<\/strong> than the neighborhood\u2019s $402,000 median sale price.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"9_Jackie_Robinson_Park\"><\/span><strong>9)<\/strong>    Jackie Robinson Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Jackie-Robinson-Park-1.png\" alt=\"\" class=\"wp-image-46315\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Jackie-Robinson-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Jackie-Robinson-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Jackie-Robinson-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>Just shy of 13 acres, Jackie Robinson Park stands as one of four historic Harlem parks and was one of the first 10 city parks where public pools were opened. It features ample sports facilities, including the 1936-built rec center, while the bandshell hosts concerts throughout the warmer months.<\/p>\n\n\n\n<p>Here, buyers looking to live next to a park with a vibrant community life can do so at a $150,000 discount compared to the rest of the neighborhood. So, while the median sale price for a Harlem condo or co-op unit was $575,000, <strong>the first row of buildings bordering Jackie Robinson Park sold for a median $425,000 \u2014 26% cheaper<\/strong>. <\/p>\n\n\n\n<p>This was the result of a unique situation: Both condos and co-op bordering Jackie Robinson sold for higher prices that condos and co-ops located further away from the park, but since more co-ops sold in the past 12 months in the first row of buildings (77% of transactions) than in Harlem overall (43% of transactions), the median of buildings bordering Jackie Robinson Park was artificially lowered.   <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"10_John_V_Lindsay_East_River_Park\"><\/span><strong>10)<\/strong>    John V. Lindsay East River Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/East-River-Park-1.png\" alt=\"\" class=\"wp-image-46323\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/East-River-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/East-River-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/East-River-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>Once an essential part of NYC industry, the 57-acre East River Park opened in 1939. Today, it boasts more than a mile of water frontage and extensive sports facilities, including tennis, baseball, softball, football, basketball and soccer fields.<\/p>\n\n\n\n<p>Moreover, buyers with a passion for sports can score a deal because <strong>units in buildings next to East River Park sell for 32% less<\/strong> than the overall neighborhood. So, while a Lower East Side unit traded for a median $990,000 in the last 12 months, sales in the first row of buildings next to East River Park sold for a median $677,000, representing a $313,000 discount compared to the overall neighborhood. This is the result of the neighborhood's property mix, with the first row of buildings next to East River Park made up older co-op buildings, mostly built in the 1950s. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"11_Marcus_Garvey_Park\"><\/span><strong>11)<\/strong>    Marcus Garvey Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Marcus-Garvey-Park-1.png\" alt=\"\" class=\"wp-image-46317\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Marcus-Garvey-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Marcus-Garvey-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Marcus-Garvey-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>Opened in 1840, this park\u2019s grounds were almost razed by the city, but public pressure saved the area and saw it preserved as a park. Now, the 20-acre park features one of the city\u2019s top amphitheaters, among many other amenities.<\/p>\n\n\n\n<p>Although buyers on a tighter budget could close on a unit next to Jackie Robinson Park for $150,000 less than the Harlem median, <strong>units in buildings bordering Marcus Garvey Park cost $325,000 (or 57%) more than the $575,000 neighborhood median<\/strong>. More precisely, residential units in the first row of buildings next to the park sold at a $900,000 median during the last 12 months.<\/p>\n\n\n\n<p>At the same time, units in the first row of buildings in Marcus Garvey Park\u2019s East Harlem side sold at a median $587,500 \u2014 just $2,500 below East Harlem\u2019s $590,000 median.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"12_Morningside_Park\"><\/span><strong>12)<\/strong>    Morningside Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Morningside-Park-1.png\" alt=\"\" class=\"wp-image-46318\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Morningside-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Morningside-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Morningside-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>At nearly 30 acres, Morningside Park came into being after city officials decided in the second half of the 1800s that extending Manhattan\u2019s street grid over the uneven terrain would be too expensive and time-consuming.<\/p>\n\n\n\n<p>Another one of Harlem\u2019s four historic parks, <strong>Morningside commands some of the highest prices in Harlem for units bordering a park<\/strong>, surpassed by only Central Park\u2019s Harlem frontage. Specifically, units in the first row of buildings next to Morningside Park sold for nearly double the neighborhood median in the last 12 months, trading hands at a median $1,103,000 \u2014 92% pricier than the average Harlem unit.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"13_Riverside_Park\"><\/span><strong>13)<\/strong>    Riverside Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"259\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Riverside-Park-1.png\" alt=\"\" class=\"wp-image-46319\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Riverside-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Riverside-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Riverside-Park-1.png?resize=768,205 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>Buyers looking to live next to what is considered to be Manhattan\u2019s premier waterfront park can find <strong>the best prices on the park\u2019s Morningside Heights frontage<\/strong>, where units sold for a median $999,000 \u2014 just $1,000 below the neighborhood average.<\/p>\n\n\n\n<p>Here, <strong>the first row of buildings on Riverside\u2019s Lincoln Square section were the priciest at a median $1,853,000<\/strong> to command an additional premium of $667,000 for Lincoln Square\u2019s median sale price. Otherwise, the first row of buildings on the park\u2019s Upper West Side border sold for $1,337,000 or about $87,000 more than the average Upper West Side apartment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"14_Theodore_Roosevelt_Park\"><\/span><strong>14)    <\/strong>Theodore Roosevelt Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Theodore-Roosevelt-Park-1.png\" alt=\"\" class=\"wp-image-46320\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Theodore-Roosevelt-Park-1.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Theodore-Roosevelt-Park-1.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Theodore-Roosevelt-Park-1.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>Home to the American Museum of Natural History, the 17.5-acre Museum Park, as area residents often refer to it, commands a hefty $1,525,000 premium for residential units located right next to it. As a matter of fact, the first row of buildings bordering the park sold for a median sale price of $2,775,000, which represented <strong>a 122% premium over the Upper West Side median<\/strong> and double what buyers paid for units bordering Riverside Park\u2019s Upper West Side section.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"15_Tompkins_Square_Park\"><\/span><strong>15)    <\/strong>Tompkins Square Park<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"970\" height=\"258\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Tompkins-Square-Park.png\" alt=\"\" class=\"wp-image-46324\" srcset=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Tompkins-Square-Park.png 970w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Tompkins-Square-Park.png?resize=300,80 300w, https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Tompkins-Square-Park.png?resize=768,204 768w\" sizes=\"auto, (max-width: 970px) 100vw, 970px\" \/><\/figure>\n\n\n\n<p>Located in the eclectic East Village, the 10.5-acre Tompkins Square Park is best known for its live performances and events, including festivals like Wigstock, Howl and the Charlie Parker Jazz Festival. Yet, with the East Village median sale price at $1,096,000, <strong>buyers eyeing a unit in the first row of buildings bordering Tompkins Square Park pay nearly the same price<\/strong> with medians at $1.1 million \u2014 just $4,000 more.<\/p>\n\n\n\n<p><strong>Explore the interactive table below to see the cost of living next to Manhattan\u2019s largest parks:<\/strong><\/p>\n\n\n\n<iframe title=\"parks\" aria-label=\"Table\" id=\"datawrapper-chart-X3VBw\" src=\"https:\/\/datawrapper.dwcdn.net\/X3VBw\/3\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"1273\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();<\/script>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Methodology\"><\/span>Methodology<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>We looked at all Manhattan parks of at least 10 acres, considering only those that had at least five residential sales in the first row of buildings next to the park between April 4, 2023 and April 4, 2024. For parks that are bordered by multiple neighborhoods, we determined separate median sale prices for each neighborhood, as well as the first row of buildings next to the park for each neighborhood.<\/p>\n\n\n\n<p>To determine the park proximity cost we calculated the median price of for the overall neighborhood and subtracted the median sale price of units located in the first row of buildings next to its respective park.<\/p>\n\n\n\n<p>Only residential sales were considered when determining median sale prices. All package deals were excluded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Manhattanites enjoy access to 160+ public parks \u2014 but what&#8217;s the cost of buying a unit next to the borough&#8217;s largest green spaces?<\/p>\n","protected":false},"author":49,"featured_media":43417,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89,328],"tags":[11093,172,11171,7],"class_list":["post-43408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manhattan-real-estate","category-new-york-real-estate","tag-luxury","tag-manhattan-apartments-for-sale","tag-old-study","tag-residential-sales"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cost of Buying Next to Manhattan\u2019s Largest Parks | 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Theiss","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=retro&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=retro&r=g","caption":"Eliza Theiss"},"description":"Eliza Theiss is a senior writer reporting real estate trends in the US. 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Reach her at eliza.theiss@yardi.com","url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/author\/eliza\/"}]}},"jetpack_featured_media_url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2024\/04\/Hero.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/posts\/43408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/comments?post=43408"}],"version-history":[{"count":9,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/posts\/43408\/revisions"}],"predecessor-version":[{"id":46326,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/posts\/43408\/revisions\/46326"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/media\/43417"}],"wp:attachment":[{"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/media?parent=43408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/categories?post=43408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-json\/wp\/v2\/tags?post=43408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}