While the most coveted, prewar homes on Fifth and Park Avenues are beyond the financial reach of all but the wealthiest New Yorkers, there are also surprisingly good values that abound nearby. There are exceptional values in all ranges of housing from post-war hi-rises to brownstones, and from rental to coop/ condominium ownership.
It is the perfect quiet, residential area to raise a family with proximity to Manhattan's best private and public schools. Central Park, itself, is the best "backyard" anyone could dream of with it's zoo, playing fields, tennis courts, parklands, rowing and world class natural charm.
The city's largest concentration of its toniest shops and cafes can be found on both sides of Madison Avenue. Yet elsewhere lurking on the eastside, you will find other famous, outrageously expensive stores such as Sotheby's and Christie's auction houses, Henri Bendel, Tiffany's, and Louis Vuitton.
Upward of 70th Street, Fifth Avenue, also known as Museum Mile, is home to some of the foremost art institutions in the world such as The Metropolitan Museum of Art, the Guggenheim, the Whitney Museum of American Art and the Frick Collection. Between 86th Street and 96th Street between 5th Avenue and Lexington is the Upper East Side neighborhood Carnegie Hill, named after the Carnegie mansion on 91st and Fifth.
Even the official residence for the Mayor of the City of New York, Gracie Mansion overlooks the East River from East 88th Street. Although current Mayor Michael Bloomberg prefers to live in his own $40 million Upper East Side townhouse.