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Many locals and readers already know it, but the Flatiron and Madison Square Park areas are booming, even through the economic downturn.

Read Jason De Avila’s piece in Saturday’s Wall Street Journal, “Flatiron District Evolves Into Pricey Choice“, which covers the price of condos/coops, the evolution of the area into an epicenter of amazing restaurants, the schools and parks, and that the “retail shops lining Broadway and Fifth and Sixth avenues have been attracted to the well-heeled residents of the neighborhood”. He specifically mentions pricing at residential buildings the Grand Madison (225 5th Avenue) and the Parker Gramercy (7 West 14th Street), examples of buildings that converted respectively into condos and coops.

A lot of the growth has surrounded Madison Square Park, with recent additions of Eataly, the new headquarters of Tiffanys and Grey Advertising, luxury condo conversions at One Madison Park, the Grand Madison and Madison Park North,  as well as newcomers Trader Joes, the Ace Hotel, the Breslin and John Dory Restaurant, ilili, SD26, A Voce, Hill Country Chicken, and Bar Breton, with the Flatiron Hotel and Nomad hotel coming in 2011 just a block away.

The growth has continued through the recession but what will be interesting is where the neighborhoods go from here once the general New York (and foreign buyer) economy recovers.

Read the full WSJ article at http://online.wsj.com.

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