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Manhattan Valley, Insane or Not?

In a city that coins new neighborhood names over breakfast, shocking pushback in a letter to the editor in the NYT real estate section yesterday:

I do call you to task in one column ("A Life at Sea, and One Foot in New York," March 26) for referring to West 106th Street just off Central Park West as "Manhattan Valley." It's the Upper West Side! Manhattan Valley is just another real estate broker's coined name: a contrivance to give what is almost a Harlem street a cozy-sounding feel, much like, say, Pleasant Valley U.S.A. And pray tell, what is it a valley of? To my knowledge, there is no grounded historical connection to this name.To set the record straight, Citi-Habitats broker Sumi Vatsa fires back on her blog: "Now I don't know about you, but I probably wouldn't want to live in a neighborhood that had an insane aslyum named after it." Your mileage, of course, may vary.
· The Coined Name for City Neighborhoods [NYTimes]
· History Lesson on a Neighborhood Name [City Digs]
· Bloomingdale / Manhattan Valley Chronology [Columbus/Amsterdam BID]