555 Main Street

Overview of Roosevelt Island

Roosevelt Island is an impossibly quiet, 2-mile sliver of land in the East River, sitting between Manhattan and Queens. It operates as part of the borough of Manhattan but feels like a separate world. For buyers interested in Roosevelt Island Manhattan real estate, it offers waterfront value, stunning views, and a suburban pace of life just minutes from the city. Living in Roosevelt Island is unique. You take a tram or subway to get home. Traffic is minimal as cars are restricted in many areas. As a distinct Manhattan NYC neighborhood, it attracts diplomats (due to proximity to the UN), medical researchers, and families who want safety and space.

Real Estate & Housing Market

The market for homes for sale in Roosevelt Island is dominated by co-ops (originally Mitchell-Lama developments) and newer luxury rentals and condos like Riverwalk. Prices here are significantly lower than mainland Manhattan, offering excellent value for waterfront living. It is a leasehold community—most buildings are on ground leases from the city/state, which can complicate financing but often results in lower purchase prices. The new Cornell Tech campus has driven new interest and investment in the southern end.

Lifestyle & Community

The lifestyle in Roosevelt Island is peaceful. There is no nightlife. Residents enjoy running along the river promenade, picnicking in Franklin D. Roosevelt Four Freedoms Park, and playing sports on the ample fields. Community is incredibly tight. Because it is an island, there is a "small town" familiarity. It is one of the most international and diverse zip codes in the city.

Transportation & Accessibility

Roosevelt Island is famous for the Roosevelt Island Tramway, which offers a cinematic 4-minute ride to 59th Street and Second Avenue. The F train also stops deep underground, connecting to Midtown in one stop. The red "Red Bus" circulates the island for free, shuttling residents to the subway and tram. It is a car-lite environment, which many parents love.

Parks, Schools & Amenities

The entire island is essentially a park. Four Freedoms Park at the southern tip is a Louis Kahn masterpiece. Lighthouse Park at the northern tip offers grilling and fishing. Amenities include a public library, schools, and a few restaurants and grocery stores on Main Street. The Cornell Tech campus has added a cafe and hotel, bringing a bit more activity to the area.

Who This Neighborhood Is Best For

Roosevelt Island is best for families, UN employees, and anyone who wants to escape the noise of the city completely while remaining a 5-minute tram ride away.