Why Live in Chinatown
Chinatown in New York City is a vibrant neighborhood marked by colorful hanging lanterns and twinkling lights above Mott Street. The area, formed by Mott, Bowery, and Bayard Streets, is bustling with noodle, dim sum, and tea shops. Doyers Street, a pedestrian walkway, features colorful murals and the century-old Nom Wah Tea Parlor. Dining options range from Cantonese cuisine at Uncle Lou to cocktails at Whiskey Tavern. Mixed-use buildings house bakeries, hair salons, cell phone stores, massage parlors, and souvenir shops. Small fish markets and Asian grocery stores, like the three-floor New Kam Man Grocery Store, are prevalent. The neighborhood is known for its cultural significance, with events like the Lunar New Year parade and summer night markets. Housing includes pre-war buildings and postwar mid-rise elevator buildings, with prices ranging from $700,000 to $3 million. Columbus Park offers a respite with tai chi groups, Chinese chess, a playground, and sports facilities. Multiple subway lines converge on Canal Street, providing access to the Financial District, Dumbo, and Midtown. PS 124 Yung Wing Elementary School and MS 131 Dr. Sun Yat Sen Middle School are highly rated. The planned hi-rise jail at 125 White Street has raised concerns among local business owners.
Home Trends in Chinatown, NY
On average, homes in Chinatown, Manhattan sell after 55 days on the market compared to the national average of 52 days. The median sale price for homes in Chinatown, Manhattan over the last 12 months is $780,000, down 6% from the median home sale price over the previous 12 months.
Median Sale Price
$780,000
Median Single Family Sale Price
$1,281,500
Median Townhouse Sale Price
$1,900,000
Median 2 Bedroom Sale Price
$1,935,000
Median 1 Bedroom Sale Price
$780,000
Average Price Per Sq Ft
$1,318
Number of Homes for Sale
12
Last 12 months Home Sales
9
Median List Price
$988,000
Median Change From 1st List Price
2%
Median Home Sale Price YoY Change
-6%