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Explore Murray Hill Kips Bay Neighborhood in New York City

Real Estate New Developments

General Information

Murray Hill and Kips Bay are two distinct neighborhoods in Manhattan, offering a vibrant and dynamic living environment. Murray Hill is known for its charming tree-lined streets, historic brownstones, and a central location that makes it ideal for those seeking proximity to Midtown, Grand Central Station, and the East River. The neighborhood is primarily residential but features a wide array of restaurants, bars, and coffee shops, making it a favorite among young professionals and families. Just south of Murray Hill lies Kips Bay, which offers a more relaxed, residential atmosphere but is still conveniently located near key business hubs, like the Flatiron District and Union Square. Both neighborhoods boast easy access to public transportation and are near some of Manhattan’s iconic attractions, including the Empire State Building and Bryant Park.

Real Estate Information

The real estate market in Murray Hill and Kips Bay offers a mix of pre-war apartments, luxury condos, and newly developed buildings. In Murray Hill, you’ll find an array of classic brownstones and mid-rise buildings, often with a bit more space than in other parts of Manhattan. This makes the neighborhood appealing to young professionals looking for a vibrant atmosphere without the steep prices found in neighborhoods like the Upper East Side. In Kips Bay, you’ll see a mix of older apartments and newer high-rise developments, providing a blend of historic charm and modern living. The area is often considered more affordable than its northern and southern neighbors, attracting a diverse population, including renters, students, and professionals. With strong transit access via the 6 subway line, the area is a popular choice for those seeking convenience and value in one of Manhattan’s busiest districts.

Historical/Interesting Facts

Murray Hill is named after the 18th-century Murray family, who owned much of the land in the area. In the early 19th century, the area was developed with grand homes and estates, making it one of the most prestigious parts of Manhattan at the time. However, as the city grew, the neighborhood shifted to become more commercial and residential. By the late 19th century, it became a popular area for businesses, particularly as Manhattan expanded and Midtown began to take shape. Kips Bay has a rich history dating back to the Dutch colonial period, originally known as the “Kips Bay” settlement. Over time, the area was developed with warehouses, homes, and apartments. In the 20th century, it became more commercial, but recent years have seen a resurgence of residential growth and redevelopment. Both neighborhoods have transformed significantly from their early days, now offering a mix of old and new that make them some of the most sought-after areas in the city.

Properties Statistics

Total Properties

11

Median Asking

$982,636.36

Sale Price/ft²

$1,000.06

Average Home Size

778 ft²

Average Home Age

55 years

Based on results from 11 properties

Buildings in this Sector

FAQ about Murray Hill Kips Bay