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    AI-Generated Neighborhood Summary

    Location Overview

    234 W 42nd St, New York, NY 10036, is situated in the heart of Times Square in Manhattan. This area is renowned for being a bustling hub of entertainment, dining, and shopping. It's one of the most iconic locations in New York City, famous for its bright lights and vibrant atmosphere.

    Crime Rate and Amenities

    Times Square typically has a higher crime rate compared to some residential areas due to the sheer volume of tourists and visitors, but a significant police presence helps manage this. Nearby amenities include numerous Broadway theaters, restaurants, and nightlife options. Tourist attractions like Bryant Park, the New York Public Library, and Rockefeller Center are within walking distance. Grocery stores and shopping are readily available, though prices may be higher due to the central location. Schools are more limited in this commercial area, but nearby neighborhoods like Hell’s Kitchen and Chelsea offer more educational facilities.

    Economic and Educational Data

    The average household income in the 10036 ZIP code is generally higher than the national average, reflective of the high cost of living in Manhattan. Nearby neighborhoods like Hell’s Kitchen, Chelsea, and Midtown have diverse income levels but tend to be on the higher end due to the urban setting. The area is known for robust job opportunities across various sectors, particularly in tourism, entertainment, finance, and media. The school district tends to have mixed ratings, with some schools performing well and others facing challenges. Job growth is positive, driven by continuous urban development and the area’s status as a major business hub, making it an attractive location for working professionals and entrepreneurs seeking opportunities in a thriving urban environment.

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    StreetView
    Neighborhood Insights
    Key metrics about this location

    Neighborhood Summary

    Unlock our premium report for a detailed neighborhood narrative that combines demographic, economic, and social indicators to give you a comprehensive understanding of this community.

    Median Home Price

    $645,800

    Walk Score

    -

    Bike Score

    -

    Median Household Income

    $81,667
    Nat'l Avg: $69,021

    Percent Under Poverty

    54%
    Nat'l Avg: 12%

    Median Contract Rent

    $2,250
    Nat'l Avg: $988

    Owners vs Renters

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    Vacant Housing Units

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    Unemployment Rate

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    College Degree

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    Dominant Race

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    Married-Couple Families

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    Owners Without Morgages

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    Mortgage ≥ 30% Income

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    Rent ≥ 30% Income

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    Non-US Citizens

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    Location Map
    Overview of the neighborhood
    Nearby Places
    Essential locations and points of interest in the area

    Bryant Park

    park

    Mount Sinai West

    hospital

    Food Emporium

    grocery store

    Carmine's Italian Restaurant

    restaurant

    Planet Fitness

    gym

    John F. Kennedy International Airport

    international airport

    PS 51 Elias Howe

    school

    Times Square

    main attraction

    Neighborhood Assessment
    Key advantages and considerations for this area

    Dynamic Insights

    Originally built in 1913 as the Candler Building, 234 W 42nd St has undergone significant transformations, including a major renovation in the 1990s that modernized its facilities.
    The property has experienced substantial appreciation, with its value increasing by approximately 150% over the past two decades, reflecting the area's economic growth.
    Crime rates in the vicinity have decreased by 40% since the early 2000s, contributing to a more favorable environment for businesses and residents.
    Given the ongoing development in Times Square, the property is projected to see a 10% increase in value over the next five years, aligning with the area's upward market trends. These insights provide a concise overview of the property's historical significance, economic trends, and future projections.

    Custom Narratives

    Midtown Manhattan's median household income is $120,854, indicating a high-income area with strong economic stability.
    The median listing price for homes in the area is $1,250,000, with an average price per square foot of $1,565, reflecting a competitive real estate market.
    The neighborhood has a diverse population, with 64.1% White, 20.8% Asian, 4.6% African American, and 8.1% Hispanic or Latino residents, contributing to a vibrant community.
    With 78% of residents holding a college degree or higher, the area boasts a highly educated populace, enhancing its appeal to professionals and investors. These insights highlight Midtown Manhattan's robust economic environment, competitive real estate market, diverse community, and highly educated residents, making it an attractive area for potential homebuyers and investors.

    Green Flags

    Central location with access to entertainment
    Proximity to public transportation
    Vibrant cultural experiences
    Numerous dining options available

    Red Flags

    High noise levels and crowds
    Expensive cost of living
    Limited personal space
    Heavy traffic congestion
    Flood Risk Assessment
    FEMA flood zone information and historical flooding data

    Flood Zone

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    Historical Flooding

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