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It's alright, I suppose. The problem with that particular area is the lack of services, the lack of green space, and if you want to put it into a neighborhood, it's probably too north to be Gramercy Park but also too south to be Murray Hill. Some of the other issues is that it's on bed pan alley, starting with the Manhattan VA Hospital, Bellevue Hospital, a homeless shelter, and NYU Medical Center. The NYC Department of Health is also in that area.
I mention these things because these institutions, save for NYU Medical Center, draws a number of socioeconomically disadvantaged people to the area, including more than the average number of homeless people in New York City.
It's not the nicest. I probably wouldn't live there if I had a choice. The rents aren't cheap, by any measure. The only affluent areas are more north along 34th Street and south in the Stuyvesant Town and Gramercy Park area.
It's not posh but security is not a problem. 23rd Street is a "through" street, so it has plenty of traffic most of the time - not nice if your bedroom is facing that way. I've seen lots of kids in the StyTown-Peter Cooper Village playgrounds next door.
23rd is the northern cut off for Gramercy. 23rd and 1st/2nd a VERY nice area in MY opinion. I live at 23d and Lex. Further east (from me) is nicer, but further from the subway. Madison square park is on 23rd and 5th. Stuyvesant park is close by too. I just walked between two kids playing on the street in the area. I will say its quite loud over here... There are a few grocery stores in the area too.
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