Market Overview for Quarter 1, 2021
Median Sale Price
No. of Transactions
Manhattan Median Sale Price
In Quarter 1, the median home sale price in Roosevelt Island was $676K, down 42% year-over-year. There were a total of 4 transactions, representing a 42% drop compared to Quarter 1 last year. The median price per square foot was -, a -% YoY change. In Quarter 1, the median home sale price in Manhattan was $1M.
Roosevelt Island Neighborhood Map
A very narrow island on the East River, Roosevelt Island is between Manhattan and Queens. The island is actually owned by the city but has been leased to NY's Urban Development Corporation. Most buildings are rentals though there's also Rivercross, a cooperative, and Riverwalk, a condo building. Three addition buildings are being privatized.
Top most expensive neighborhoods in Manhattan
Roosevelt Island median price compared with other neighborhoods in Manhattan
Property values in Roosevelt Island are lower compared to the borough of Roosevelt Island overall.
Roosevelt Island median price compared with all the neighborhoods in Manhattan
|Neighborhood||Borough||Median Sale Price|
|Central Park South||Manhattan||$2,147,500|
|Upper West Side||Manhattan||$1,100,000|
|Theatre District - Times Square||Manhattan||$997,500|
|Clinton - Hell's Kitchen||Manhattan||$779,500|
|Battery Park City||Manhattan||$762,900|
|Lower East Side||Manhattan||$728,000|
Residential Properties Sold in Roosevelt Island
|Property Type||Median sale price||Y-o-Y||Median sale price/sqft||Y-o-Y||Transactions|
Median coop sale price in Roosevelt Island were $676K, a change of -50% year-over-year. There was no statistically significant data for median condo price and median house price activity for the period of Quarter 1 in Roosevelt Island.
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Roosevelt Island Neighborhood Guide
For those looking for suburban living, but who still want to be in Manhattan, Roosevelt Island might just be the ideal match - it boasts a single traffic light for its entire two-mile length, an abundance of parks, and water views for nearly every residence. Until the 1970s about the only people who lived on the New York City-owned island in the East River were convicts and patients of the New York City Lunatic Asylum. It was called Welfare Island then but was renamed for Franklin Roosevelt after apartment buildings started going up. When the Queensboro Bridge was constructed across the island there wasn't even an off-ramp built (vehicles used an elevator to reach the deck, if necessary). Vehicular access to the rest of the United States was finally enabled by a bridge link to Queens in the 1950s. Traffic exists now but cars and taxis are still an afterthought here for the 10,000 or so residents. Like most suburbs, there isn't a great deal of excitement to attract outsiders which keeps Roosevelt Island quiet and clubby.
Architecture and landmarks
Despite a relative paucity of buildings, Roosevelt Island does have quite an architectural pedigree. When it opened for residential settlement in the 1970s the initial plans were drawn up by influential postmodern architects Philip Johnson and John Burgee. There is one surviving remnant of the notorious Lunatic Asylum on the island - the five-story main entrance built of blue-gray stone in 1834. Known as The Octagon, it has been repurposed as high-end apartments and boasts more solar panels than any structure in the city. The Chapel of the Good Shepherd is an 1888 souvenir from Frederick Clarke Withers who was a master of High Victorian Gothic church design. The Blackwell Island Light, a stone lighthouse at the northern tip of the island, was designed by James Renwick, who also designed St. Patrick's Cathedral. Celebrated architect Louis Kahn contributed the four-acre Franklin D. Roosevelt Four Freedoms Park at the southern tip of the island. It features a classically-inspired memorial and bust of the four-term President. And there are close-up views of the Ed Koch Queensboro Bridge that was the longest cantilever bridge in the United States when it opened in 1909.
The main way that islanders access other portions of New York City is via the F train that pulls into the Roosevelt Island subway station more than 100 feet below ground level. The Q102 bus line ferries passengers towards Queens, but there is no direct bus line to Manhattan. That access is accomplished with the Roosevelt Island Tramway across the East River. On the island a free shuttle service called the Red Bus moves residents north and south.
Roosevelt Island students can attend P.S./I.S. 217 Roosevelt Island from pre-kindergarten to eighth grade. A branch of Cornell University called Cornell Tech is being built on the island and has started technology programs for students of all ages.
The island's legacy of medical treatment survives in the Coler Goldwater Specialty Hospital & Nursing Facility, which has its roots in a facility opened in 1939. It is now a chronic care and rehabilitation facility. Immediate help can be found at Roosevelt Island Urgent Care on Main Street.
The 114th Precinct, which covers Roosevelt Island as well as several neighborhoods in Queens, reported 8.97 crimes per 1,000 residents in 2016. Roosevelt Island stands out as the safest part of this precinct and one of the safest neighborhoods in New York City.
Things to do
One of the most important things money buys in Manhattan is peace and quiet, and so Roosevelt Island leaves the things to do to surrounding areas. On the western edge along First and Second avenues a number of popular bars and restaurants have congregated to give the neighborhood an injection of young-leaning nightlife.
Nightlife is non-existent. The Saturday morning farmers' market is a big deal here. Culture is gleaned from movies and lectures at the Roosevelt Island Library and local performances and exhibitions staged by the Roosevelt Island Art Association. It is not unusual for potential visitors to ride the tramway over from Manhattan for a quick tour and turn around and ride back.
However, Roosevelt Island is pockmarked with gardens and parks. South Point Park was constructed around the ruins of the James Renwick Smallpox Hospital; it features wildflower-covered landscaping and open water views. At the other end, the Lighthouse Park is a great place for a picnic, practicing soccer, baseball and tennis at the Octagon, or fishing.