As we have written often here at New Construction Manhattan, there's a reason why Manhattan condo listings remain in high demand, whatever the state of the economy, the NYC real estate market, the phase of the moon, or any other salient factor. That simple reason being that Manhattan condominium listings are located in Manhattan, and therefore have an advantage no luxury condominium listings anywhere else can match. But while it's easy to understand the high-gloss, high-culture appeal of SoHo condo listings or the old-Manhattan graciousness of Upper East Side condominiums, what of Roosevelt Island condo listings? For one thing, they're not even on Manhattan (although for our purposes we consider them as such), and are instead located to the east of Manhattan, in the middle of the East River. For another... well, for a long time, Roosevelt Island wasn't exactly a high-profile part of the NYC condo scene.
But things change fast in Manhattan real estate, and things have changed for the better in Roosevelt Island, both thanks to the spruced-up Main Street and the rise of some very appealing new construction condominiums on Roosevelt Island. Once saddled with the less-than-flattering nickname "Welfare Island," this former backwater in the middle of the East River is an afterthought no longer, thanks in large part to a boom of new construction luxury rentals and condominiums. And here's the biggest sign of Roosevelt Island's rising prosperity: People are actually moving there. Quickly and in serious numbers.