The Most Expensive Place To Live In New York Is This Tiny Waterfront Hamlet On Long Island

The gilded age isn’t over on Long Island — in fact, it’s thriving as much as ever.

Especially in Sands Point, NY, the most expensive place to live in New York according to a new 2025 ranking by GOBankingRates.

Located on the “Gold Coast” and home to stunning historic estates like Castle Gould, the tiny seaside enclave has always been synonymous with wealth and exclusivity.

It’s long been part of Long Island’s famed Gold Coast region, which once hosted America’s wealthiest industrialists — and continues to set the standard for ultra-luxe living today.

Sands Point tops the list as NY’s most expensive spot

According to GOBankingRates, Sands Point has the highest cost of basic living necessities in the state — meaning mortgage, groceries, healthcare, utilities, and transportation.

Just the essentials for a typical household add up to over $17,000 per month, the highest in New York and among the highest in the nation.

The average home in Sands Point now exceeds $2.9 million, with many estates priced far higher — especially those boasting waterfront access, sprawling acreage, and historic pedigree.

In fact, the average mortgage alone would be nearly $15,000 per month, according to the study.

The runner-up? Old Westbury — another North Shore Gold Coast gem — followed by Muttontown, which also cracked the top three. But Sands Point remains in a league of its own when it comes to sheer cost of living.

A real-life ‘Gatsby’ setting full of Gilded Age mansions and old money

If Sands Point feels like the backdrop of a novel, that’s because it is.

The village is widely believed to be the real-life inspiration for “East Egg” in The Great Gatsby — home to Daisy Buchanan and the country’s old-money elite.

F. Scott Fitzgerald based his fictional East Egg on the North Shore’s historic mansions, many of which still line the cliffs and waterways of Sands Point today.

Legendary estates like Land’s End once overlooked the Sound, and though many have been demolished or remodeled over the years, their legacy still defines the village’s identity.

Sands Point isn’t like other suburbs — there’s no downtown, no retail strip, no Starbucks. Zoning laws ensure the area remains almost entirely residential, with massive lots (often 2+ acres), winding private drives, and views of the Long Island Sound.

The vibe is pure privacy and prestige. Residents often belong to nearby country clubs and yacht clubs. Their kids attend top-tier schools. And instead of traffic, there are tree-lined roads that feel more like parkland than a commuter suburb.

It’s the kind of place where you only visit if you live there — and even then, only if you can afford the price of entry.

An exclusive village with a legendary backstory

Founded in the 1600s and later transformed into an elite retreat for New York’s richest families, Sands Point remains one of the most historically significant communities on Long Island’s North Shore.

The Guggenheims, Vanderbilts, and Goulds all once owned mansions here, and figures like William Randolph Hearst, Condé Nast, and John Philip Sousa also called the area home.

Today, modern athletes, media execs, and tech founders are among those quietly buying up property.

And unlike trendier hotspots in the Hamptons, Sands Point has long maintained a reputation as a “quiet luxury” destination — no flashy hotels or nightlife, just legacy estates, nature preserves, and some of the most expensive views money can buy.