Alphabet City Changing By the Day

Written By Stephanie Spencer | July 13, 2012
2019%2f09%2f13%2f12%2f14%2f12%2f5f0a4675 7da6 4b5f 9dd6 c2009cb9548d%2ffile

Once rattled by crime and abandoned buildings occupied by the homeless, Alphabet City was one of Manhattan’s most disheveled locations during the 80s. Many residents didn’t see an upturn for the Lower Manhattan area, which many locals made it a point to steer clear of. However when Mayor Giuliani took office during the 90s, New Yorkers were pleasantly surprised to see a vast improvement. Suddenly streets were clean and safe enough for shop owners to establish stores for patrons to visit, and eventually developers caught on, realizing Alphabet City’s mass potential. It would have been unexpected, though, that Alphabet City would become one of Manhattan’s most expensive communities to live in, incorporating both lush convenience and an urbanely rugged environment reminiscent of the past.

Rental buildings have been frequently sprouting up around Alphabet City in recent years, with many of the more expensive properties being located further East on Avenues A and B. Much of Alphabet City’s residential success has been attributed to the younger generation of apartment residents who figured that the neighborhood would be cheaper, but because of the massive demand many were surprised by the astonishing rent prices. Solaiman Futuri, 32, who was looking for a two-bedroom apartment with a collegiate told the New York Post that, “I would say it was much more expensive than I thought it would be.”

Many Lower East Side residents are disheartened by the extreme changes enveloping Alphabet City. Where once a local was able to cheaply rent a loft-style apartment, asking prices have sharply increased, making the average rental apartment in Alphabet City around $4,000 a month. In addition, landlords Like Ben Shaoul have found themselves in headlines for abusing their real estate power by booting small, privately owned shops that contributed to the character of Alphabet City.

Blog Archive


This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2021 REBNY Listing Service, Inc. All rights reserved. RLS IDX Data display by Elegran LLC. IDX information is provided exclusively for consumers’ personal, non- commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Elegran LLC may or may not be the exclusive listing agent of the properties being displayed on All data displayed on is presented for informational purposes only and should be independently confirmed by all customers. All Information is compiled from both public and private sources including, but not limited to the RLS, MLS and ACRIS; each of which is assumed to be reliable. All information displayed is subject to errors and omissions regarding apartment specifications and final sale prices, and further, any unit listed may have had its listing withdrawn without notice subsequent to such information being compiled. No representation is made as to the accuracy of any description (ie: listing, close sale data, and/or building description) of any building or individual unit. All measurements and square footage are approximate and all information herein should be confirmed by customer and/or their attorney. Elegran LLC, its members, affiliates, and contributors adhere to New Your City, New York State, and United States Fair Housing Laws.