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Roosevelt Island, Manhattan

Manhattan · Uptown Manhattan

Roosevelt Island real estate guide

Roosevelt Island is a narrow island in the East River between Manhattan and Queens, about two miles long and roughly 147 acres, lying opposite the blocks from about 46th to 86th Street. Known for centuries as Blackwell's Island and later Welfare Island, it held hospitals, an asylum and other public institutions, several of which survive as landmarks, including the Blackwell House, the Octagon, the Renwick Smallpox Hospital ruin and the island's lighthouse. It was renamed for Franklin D. Roosevelt in 1973. New York State has managed the island under a long term master lease from the city since 1969, and planned residential development began in the 1970s with the Northtown buildings along Main Street. Later additions include Southtown, Four Freedoms Park in 2012 and the Cornell Tech campus in 2017. The aerial tramway, the F train and NYC Ferry connect the island to Manhattan and Queens.

Homes and buildings in Roosevelt Island

Housing on Roosevelt Island is all multifamily, built in planned phases. The original Northtown buildings from the 1970s include rentals and former affordable developments, some converted to co-op ownership. Southtown, built from the early 2000s, adds rental towers and condominiums with Manhattan skyline views. There are no townhouses or brownstones. Because the land is leased, ownership structures are distinct, and buildings carry their own ground lease and governance arrangements.

Streets, parks and landmarks

Roosevelt Island combines planned development with open space. Main Street runs along the spine of the island, while waterfront promenades circle much of the shoreline with direct views of the Manhattan skyline. Four Freedoms Park, designed by Louis Kahn and completed in 2012, occupies the southern tip, and Lighthouse Park sits at the north end. The Cornell Tech campus and the historic landmark buildings add distinct architecture. Car traffic is limited, with a free island bus.

Selling in Roosevelt Island

On Roosevelt Island, buyers focus on views, building type and the lease structure. Manhattan skyline views, higher floors and renovated interiors command clear premiums. The island's master lease from the city was set to expire in 2068; in late 2025 the city and state agreed to extend it to 2078, and a longer term planning process is underway, which sellers should explain clearly with documents in hand. For converted co-ops, sellers should be ready with flip tax, maintenance and any resale restrictions. Easy access to the tram and the F train also supports value.

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Buying in Roosevelt Island

Ownership on Roosevelt Island differs from the rest of Manhattan because the island is leased from the city, so review the master lease term, the building's own sublease and any resale terms with your attorney. Some buildings are former affordable developments with specific rules. Planning for possible new development on the island was announced in 2025, which may affect future views and services. Commuting options include the tram, the F and NYC Ferry.

Roosevelt Island: frequently asked questions

How do you get to Roosevelt Island?

There are several ways. The Roosevelt Island Tramway, opened in 1976, crosses the East River from 59th Street and Second Avenue in Manhattan. The F train stops at Roosevelt Island station, which opened in 1989, linking the island to Midtown and Queens. NYC Ferry stops on the island's east side, and drivers reach it by the Roosevelt Island Bridge from Astoria, Queens.

Who owns the land on Roosevelt Island?

The island is owned by the City of New York and leased to New York State, which manages it through the Roosevelt Island Operating Corporation. The original 99 year master lease began in 1969 and ran to 2068. In November 2025 the city and state announced a 10 year extension to 2078, approved by the RIOC board in December 2025, alongside a longer term planning process for the island's future.

Source: nyc.gov

What was Roosevelt Island called before?

Before 1973 the island was called Welfare Island, a name it carried from 1921, reflecting the hospitals and public institutions located there. Earlier it was Blackwell's Island, after the Blackwells, who owned it in the eighteenth and nineteenth centuries, and in Dutch colonial times it was known as Hog Island. It was renamed in 1973 to honor President Franklin D. Roosevelt.

Can you buy an apartment on Roosevelt Island?

Yes. Roosevelt Island has condominiums, mainly in the Southtown section, and several co-ops created from earlier rental or affordable developments, alongside many rental buildings. Because the island sits on leased land, purchases involve reviewing the master lease, the building's own arrangements and any resale rules specific to that property. An attorney familiar with island transactions can explain how these affect financing and resale.

Source: rioc.ny.gov

Sources: rioc.ny.gov, nyc.gov, governor.ny.gov, ferry.nyc, communityprofiles.planning.nyc.gov. Neighborhood boundaries are customary and vary by source. Updated October 2026.

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