Sales down in Staten Island, N.Y., but mortgage crisis mild

— -- Staten Island is close to Manhattan, yet it seems like another world.

Its streets are not surrounded by towering skyscrapers or crowded by tourists and workers in a hurry. Instead, it has quiet, family-oriented neighborhoods.

"It's Camelot," says John Vernazza, president-elect of Staten Island Board of Realtors. "We've got diverse communities, and we're just 20 minutes from Manhattan. The Staten Island Ferry is a staple of New York City, and it never stops running."

Staten Island is also one of the least-expensive places to buy a home in New York City, says Herman Herrera, real estate agent. And families can buy a home with a backyard, instead of a co-op or condominium apartment.

"We have the proximity to Manhattan, but we have a suburban feel," Herrera says. "We have the best of both worlds."

Despite the appeal, Staten Island's housing market has been suffering. "Sales are down because of the whole national economy," says real estate agent Tony Whalen. "People are losing their jobs. And the banks have tightened their belts."

Still, Staten Island has not experienced the kind of mortgage crisis that has hit other parts of the nation. Home foreclosures there are not out of the ordinary. "In general, we're doing OK," Vernazza says.

People aren't sure if the financial meltdown on Wall Street will cause home sales to fall even more in Staten Island. It is not home to many top financial executives, but there are high-end neighborhoods, where the homes cost $1 million or more.

"No matter what happens to the economy, people still have to live someplace," Vernazza says.

The housing market many not fall much more in Staten Island, but it also may not climb back up any time soon. "I think we can use a price adjustment," Whalen says. "It had gotten out of hand, and until now it was hard for young couples to buy a home."

Staten Island is generally home to middle-class families, such as police officers, firefighters, teachers and secretaries. In the 1988 movie Working Girl, actress Melanie Griffith played a secretary from Staten Island who worked for a Manhattan brokerage firm.