The salary they need to live across the street from central park

Central Park in New York is one of the most famous parks in the world. Even if you've never set foot in the city that never sleeps, you're probably familiar with this natural respite in the middle of one of the most densely populated urban environments in the world.

The park offers 843 acres of green space in the middle of Manhattan and is filled with attractions and activities, including a zoo, gardens, a carousel, an ice skating rink, playgrounds, tennis courts, a running track and sculptures. The park also hosts a number of programs and events , including concerts and film festivals, educational tours and sporting events.

It's no surprise that Central Park is a major destination for New Yorkers and tourists alike. Have you ever wondered what it would be like to live just a hop, skip and a jump away from the iconic park?

According to Trulia , the average home price in the Central Park area is 875.000 dollars (the website defines this area as the buildings on Central Park West and 5th Avenue between the 59. and 110. Street). Based on the guideline that your monthly mortgage payment should not exceed 28 percent of your salary, you need to pay about 178.Earning $500 a year to afford a home there (with current interest rates and 10 percent lower rates so you can get a monthly mortgage). Payment of 4.165 $)

New York City is famous for its sky-high cost of living, however, and part of the Central Park area offers some of the best (and most expensive) real estate in the city. Many people are attracted to all the attractions that the park offers, which means that the area is home to some of the most expensive buildings in the entire city.

15 Central Park West, The San Remo, El Dorado and One 57 are just a few of the buildings that have broken price records in New York City, explains agent Alexander Boriskin of Douglas Elliman.

If you're willing to pay top dollar, you can find some pretty amazing properties in the area, like this huge duplex penthouse on the Upper East Side that offers gorgeous views of the Manhattan skyline as well as Central Park. It's listed at $22 million.

But not everyone considers it desirable to live so close to landmarks. For one thing, all the activity leads to crowds, traffic, noise and inconvenience.

I myself just participated in a breast cancer walk a few weeks ago, and it went off in Central Park West, Boriskin says. The road was closed for most of the day. There is often traffic congestion on Central Park South, which is another disadvantage for some people, especially those who rely on cars to get around.

Another potential downside to living near the park that Kaufman points out is that residents need to be extra careful at night and in out-of-the-way places in the park.