MIDTOWN EAST and SUTTON PLACE
THE BASICS: Moneyed empty-nesters live alongside midtown working stiffs in virtually every style of apartment (at every price range): modern skyscrapers with floor-to-ceiling windows, great prewars, brownstones. Few schools and a hike to the subway keep the stroller set away. Wave to Katharine Hepburn and Stephen Sondheim, whose townhouses back up to the legendary Turtle Bay gardens, or high-five Derek Jeter, who bunks in Trump World Tower.
WHAT'S NEW: Brokers are buzzing about the Grand Beekman, a stylish tower opening this month, and the just-finished Beekman Regent, a converted schoolhouse, located on opposite corners of 51st and First. Other recent developments, like the ultraluxe Trump World Tower, initially boosted prices here by about 10 percent, a phenomenon brokers say is settling down.
BARGAIN HUNTING: Head to First and Second Avenues for the relatively low-priced studios and one-bedrooms.
HOT SPOTS: Socialites seeking seafood favor Della Femina, while Francophiles dine at Le Perigord. World Bar, which opened last year in the Trump World Tower, is as gold-plated as you’d expect. Scott Conant’s new spot, L’Impero, the only restaurant in Tudor City, is worth the trip.
PREDICTION: Like the ultraconservative portfolios of its residents, Sutton Place rarely loses value. The humbler apartments in the brownstones surrounding First Avenue have been more vulnerable to price drops—but there’ll always be buyers who want to be steps from the office.