Roosevelt Island Real Estate: The New ‘It Neighborhood’ Considered A Good Alternative to ‘Busy’ Manhattan

Just two weeks ago, it was reported that various green space projects will be carried out in Roosevelt Island, specifically the New York Public Library's Roosevelt Island branch and the East River Esplanade, which is currently undergoing renovation. Now a recent report states that Roosevelt Island is making real estate waves, with the area attracting "disillusioned Manhattanites and arrivistes."

According to New York Post, Roosevelt Island may emerge as the "new 'It' neighborhood," with 326 luxury residential units and condos set to hit the market. The report points out that the place is actually a good alternative for people looking for more affordable homes and a less-crowded area. Roosevelt Island, which is officially located in Manhattan, is said to offer a boost of quality life as it's made up of various parks, is surrounded by water, and has no single traffic light.

In the recent years, various establishments have also propped up in the area, such as the art gallery Riva, a sushi restaurant, and a Starbucks, which has just opened. The place is reportedly very different now from what used to be "your grandmother's Roosevelt Island." It can be recalled that Hilary Clinton recently kicked off her presidential campaign there, too. 

The report further states that Roosevelt Island offers a "non-urban vibe" to its residents, which is a welcome attribute to those who are not fond of the hustle and bustle of the city. Roosevelt Island's location also reportedly adds to the lure of the place for potential residents.

"Roosevelt Island is closer to Midtown than those areas (Long Island City, Park Slope and Dumbo)," Corcoran Group's Deanna Kory said. "Considering what is going on here, with Cornell Tech coming in and so many other neighborhoods are now out of sight, people feel that these are really good investments in terms of putting your money into a place to live," he continued.