Park vs. Fifth: Upper East Side Property Showdown

When it comes to Upper East Side real estate, there’s Park and then there’s The Park.

The 2011 data is in, and being located on Fifth Avenue — across from Central Park — remains preferable to that wide behemoth of a boulevard Park Avenue.

Citing research by PropertyShark.com, DNA Info reports that the median sale price for Fifth Avenue properties from 59th to 96th Streets was $2.83 million.

Writes DNA:

But Park Avenue is catching up, PropertyShark found. The median sales price for 2011 was $2.55 million. That’s 11 percent less than its Fifth Avenue neighbor, but that gap was narrowed from the headier days of 2008, when Park Avenue’s median sales price of $3.1 million was 44 percent less than Fifth Avenue’s $4.46 million.

Park Avenue, however, has more going for it in terms of the number of sales. The fancy stretch saw 230 sales this year compared to Fifth Avenue’s 133.

Park Avenue’s fate was different in 2005, when its real estate prices — $2.375 million — were higher than Fifth’s $1.8 million median price by 24 percent.

Photo by David Patrick Columbia.