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Roosevelt Island, NY Homes for Sale

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9 homes found
531 Main Street, Manhattan, New York

$698,000

1 bed
988 sqft
Co-op
531 main street, #628, roosevelt island, NY 10044
Moderate sunlight
Courtyard
City views
Water views
Large windows
Pets allowed
Listing courtesy of Corcoran Group
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Roosevelt Island, Manhattan, NY

About Roosevelt Island, Manhattan

Roosevelt Island is a narrow island in the East River between Midtown Manhattan and Queens. Historically an area set aside for hospitals, prisons , and other institutions, the island was redeveloped as a modernist residential enclave beginning in the late 1960s.

The island has a unique layout with high-rise buildings, quiet neighborhood streets, lots of green space, and sweeping views across the East River. The neighborhood is relatively sleepy, but residents have easy access to nearby Manhattan and Queens.

The History of Roosevelt Island

In the 1800 the island was home to a prison, a “lunatic asylum,” and two hospitals. The nation's first hospital to treat patients with smallpox was built here in 1856; it became the mandated quarantine area for all smallpox patients.  The island declined after these institutions closed at the end of the nineteenth century. Roosevelt Island was redeveloped beginning in the late 1960s. Island House, Eastwood, Westview, and Rivercross were the first new buildings to open in 1975-76. The island was renamed after president Franklin D. Roosevelt in 1973. The second phase of Northtown was completed in 1989. Riverwalk or Southtown began construction in 1998.

Roosevelt Island Demographics

About 12,000 people live on Roosevelt Island. About one-third of the population is Asian and about 4-in-10 residents are white. The median family income is nearly double the New York City average and there is a higher proportion of high-income earners in the neighborhood.

Transportation on Roosevelt Island

Roosevelt Island has a single subway stop on the F line, which makes for a quick commute into Midtown or other Manhattan destinations. There is also a unique aerial tram that connects the island to Manhattan. A NYC Ferry route stops at Roosevelt Island and runs to Long Island City, East 34th St, and Wall Street. The Red Bus is a free shuttle bus service that circles the neighborhood. The only road access to the island is via a small bridge from Queens.

Housing on Roosevelt Island

Most apartments on Roosevelt Island are rentals. There is one co-op, named Rivercross, and one condo building, named Riverwalk. All homes on the island are in post-war buildings. The so-called WIRE buildings (Island House, Eastwood, Westview, and Rivercross) were completed in 1975-76. The second portion of Northtown opened in 1989. And the Riverwalk section began construction in 1998. Distinguished modern architects Philip Johnson and John Burgee created the plans for residential construction on the island.The entire island is owned by New York City and leased to the New York State Urban Development Corporation.

Neighborhood Life in Roosevelt Island

Roosevelt Island has a unique feel, with its combination of tall buildings, quiet streets, and a neighborhood feel. Residents report getting to know their neighbors much more than in other parts of the city. Beyond daily essentials and a handful of restaurants, the neighborhood does not have many destinations. Roosevelt Island boasts lots of park space, including a waterfront promenade that circles the entire island. Southpoint Park, Lighthouse Park, and several ball fields add extra room for outdoor recreation. Roosevelt Island is home to a number of diplomatic employees because of its proximity to the UN headquarters.

Roosevelt Island Real Estate Trends

There are few homes for sale on Roosevelt Island as most units are rentals. The island has just one co-op (Rivercross) and one condo building (Riverwalk). Home sale prices have dipped 12 percent in the past five years. Several more new buildings are planned in the Riverwalk/Southtown section of the island. The Cornell Tech campus under construction is likely to stimulate more demand for homes nearby.

Neighborhoods Similar to Roosevelt Island, Manhattan

The Truth You Should Know About Roosevelt Island

How Safe is Roosevelt Island?

Crime rates are below average across Roosevelt Island. The island has its own public safety department that patrols the neighborhood. The isolated island has a placid feel, but there is little activity out on the streets which makes the neighborhood feel either calm or deserted.

Are Schools Good on Roosevelt Island?

Roosevelt Island has good schools. The single K-8 neighborhood public school serving the island, P.S./I.S. 217 Roosevelt Island, rates very highly, particularly on measures of student progress. The school ranks high on citywide school quality measures, and is among the strongest for teaching and  leadership.

Popular Eateries on Roosevelt Island?

There are few restaurants on Roosevelt Island. A few popular spots are: @grid

  • Liukoushui Hot Pot Noodle

    Chinese

    568 Main St, Roosevelt Island, NY 10044
  • Nisi

    American

    549 Main St, New York, NY 10044
  • Bread & Butter Market

    deli

    579 Main St, New York, NY 10044
  • Fuji East Japanese Bistro

    Japanese

    455 Main St, New York, NY 10044
  • Piccolo Trattoria

    Italian

    455 Main St, New York, NY 10044

What to Do on Roosevelt Island?

  • Walk the waterfront promenade

  • Ride the unique aerial tram for a bird’s eye view of Midtown

  • See what’s in bloom at the Roosevelt Island Garden Club

Is Roosevelt Island Dog Friendly?

Roosevelt Island is an ok area for dog owners. Many of the island’s rental buildings are pet friendly. While there is a lot of outdoor space across the island, dogs are prohibited from several lawns, fields, and recreation areas. There is a small dog run in southtown.

Is Roosevelt Island Good for Cycling?

Roosevelt Island is a mixed neighborhood for cyclists. The waterfront path that rings Roosevelt Island makes for easy biking with amazing views. However, leaving the island by bike is a bit trickier. Riders complain about the slick, bumpy, and often treacherous ride in the bike lane of the Roosevelt Island Bridge, the only route on and off the island. New bike lanes to the bridge, planned to open in 2023, will make the area much more of a cyclists’ haven.

3 Things to Know Before Moving to Roosevelt Island

  1. Construction of the new Cornell Tech campus is expected to bring 5,000 people to the area and could worsen congestion on Main St. and make adjacent parks less peaceful.

  2. Much of the island - especially the northern and southern tips, are at a high risk for flooding.

  3. There is a power plant nearby in Queens. Residents report low electrical humming noises and the occasional loud blasts from steam releases. The plant is phasing out oils that generate black smoke and soot.

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