We've been to Central Park Zoo many times. While not the largest zoo in the country -- that is one of the reasons we enjoy it. You can get through the whole thing in a couple hours. The price of admission is still very reasonable. The zoo is surrounded by Central Park -- so bring a picnic lunch with you!! Our favorite spots are the penquin house (in the NYC summer, this is called the "coolest place" in the city!!) and of course the polar bears. You don't have to have kids to go to the zoo either -- my husband and I enjoy it quite often!!
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