Ultimate status symbol in the Upper East Side, 3 the new 2, and 4 the new 3...

[marylander1940]

A ski home in Aspen? A private jet? A closet full of Birkin bags?

 

If you thought any of these was the ultimate status symbol among the millionaires and billionaires of New York City's Upper East Side — one of the biggest enclaves of wealth on the planet — you'd be wrong.

 

The ultimate status symbol, at least according to Wednesday Martin, Ph.D., author of the newly released memoir "Primates of Park Avenue," is a whole mess of kids.

 

"I quickly became desensitized to massive families — they were everywhere," writes Martin, who moved from the West Village to the Upper East Side to raise her family.

 

"Three was the new two, something you just did in this habitat. Four was the new three — previously conversation stopping, but now nothing unusual. Five was no longer crazy or religious — it just meant you were rich. And six was apparently the new town house — or Gulfstream."

 

When you think about it, it's logical that big family=big status symbol: It's expensive to raise kids anywhere, and especially in New York City, where full-time nannies, private school, and summer camp are standard expenses. In the US, the average cost of raising a child is $245,340, according to a recent government report. But that figure more than doubles — to $540,514 — when that child is being raised in Manhattan.

 

Some of the city's top preschools charge as much as $40,000 a year in tuition, and tuition for private grade school can be even higher. Think of a family with six kids, each attending two years of preschool and 13 years of grade school, and that's millions of dollars for education alone, inflation aside.

 

http://finance.yahoo.com/news/ultimate-status-symbol-among-millionaire-164732256.html

 

This subject is related to this other thread I started about the mating rituals of the primates of the Upper East Side.

 

 

http://www.companyofmen.org/threads/wife-bonus-in-the-upper-east-side-poor-little-rich-women-housewives.104876/

[+ purplekow]

Now is this true for straight and married couples? Because the expense of having children for gay couples is a lot more than a few bottles of wine and a couple of Viagra.

[marylander1940]

I live on the upper east side, but very east in the 70s. I haven't noticed, but something I'll look out for now.

 

you'll hear some (bi) clients bragging about how many children they have... but you won't this family again in NYC.

 

personally, I think rich people (and those who can afford it) should have more children.

 

http://images.politico.com/global/2015/05/22/150522_duggar_gty_629_956x519.jpg

[bigvalboy]

you'll hear some (bi) clients bragging about how many children they have... but you won't this family again in NYC.

 

personally, I think rich people (and those who can afford it) should have more children.

 

http://images.politico.com/global/2015/05/22/150522_duggar_gty_629_956x519.jpg

 

Hahahahahaha....

[gallahadesquire]

I am for negative population growth. Failing that, I'll go for zero population growth, or two kids / family. The planet is already way over populated.

[rvwnsd]

you'll hear some (bi) clients bragging about how many children they have... but you won't this family again in NYC.

 

personally, I think rich people (and those who can afford it) should have more children.

 

http://images.politico.com/global/2015/05/22/150522_duggar_gty_629_956x519.jpg

 

The only Upper East Side in which I can envision this crew is of a seedy trailer park.

[+ Chris Eisenhower]

Children cut into my possible square footage. No thank you.

[BaronArtz]

I always thought it was more of an Upper West Side thing. Upper middle class and Hasidic Jewish people have tons of kids. The poor people, on the other hand, move to Brooklyn to breed.

[marylander1940]

Children cut into my possible square footage. No thank you.

 

LOL, that's the whole idea... is like saying: "I have money, look at how many kids I have..."

[gallahadesquire]

Any comment I have, especially BaronArtz last comment, would have to go to Religion and Politics section. It wouldn't be pretty.

[gallahadesquire]

I will say: One should read The Marching Morons, by C.M.Kornbluth. Overpopulation ca. ? 3000? I love the part about the University of Chicago Anesthesia Department, since I worked there for three years

[BSR]

I no longer live in NYC, but most of my extended family still does, so I keep up with news & trends. I read this a while back, that one of the most fashionable "stealth wealth" indicators is the number of children you have, replete with subtle references to whatever Montessori pre-school or posh prep school the young'uns are attending. This trend is hardly limited to Upper East or Upper West; the number 2 reason (behind the vaunted High Line, of course) West Chelsea has exploded as a neighborhood (by "exploded," I mean that new condos are selling from $3,000/sf and up) is the new Avenues school, a top-notch private school in a location where nobody in his right mind dared venture when I used to live in NYC.

 

Here's another little jewel: apparently one of the NYC signs that a family isn't quite keeping up with the Joneses is that they actually spend their summer vacation in their multimillion-dollar Hamptons vacation home. Yuppers, a "proper" New York family spends a month (well, the breadwinner for just his 2 weeks vacation, the wife, 4 kids, and nanny for a month if not longer) at 5-star hotels on the Amalfi Coast, with suites for the whole gang totaling over $20K per night, and all expenses for one summer's vacation well in excess of $1 million. News of the so-and-so's having to spend the summer in the Hamptons is met with furrowed brows and condescending concern. Oh, to have such problems ...

[+ FreshFluff]

Here's another little jewel: apparently one of the NYC signs that a family isn't quite keeping up with the Joneses is that they actually spend their summer vacation in their multimillion-dollar Hamptons vacation home. Yuppers, a "proper" New York family spends a month (well, the breadwinner for just his 2 weeks vacation, the wife, 4 kids, and nanny for a month if not longer) at 5-star hotels on the Amalfi Coast, with suites for the whole gang totaling over $20K per night, and all expenses for one summer's vacation well in excess of $1 million. News of the so-and-so's having to spend the summer in the Hamptons is met with furrowed brows and condescending concern. Oh, to have such problems ...

 

Where did you get this info? There are really two sets: There are those jet set around (sometimes to their home country) for part of the summer and often spend the rest in *gasp* Manhattan. And of course, there are those the entire summer in the Hamptons or Nantucket. I have yet to see concern expressed for the second group.

 

Vacation time on Wall Street is often a formality. Many mid-level Wall Streeters take only part of their two week vacations, if they take any at all.. Once they get senior enough, they have built up vacation time and can go away for as long as the boss does. If any actual Wall Streeters wish to correct this, feel free.

[McLeanspider]

The title itself: "upper East Side primates" it's hilarious.

[Steven_Draker]

I am for negative population growth. Failing that, I'll go for zero population growth, or two kids / family.

 

Yeah ... in India.