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Your NYC Neighborhood is expensive… but is it the most expensive?

Fernando Fernando

Your NYC Neighborhood is expensive… but is it the most expensive?

You can be sure of two things: gravity, and the rising rent of NYC. Blame it on gentrification, blame it on supply and demand, or on the price you pay for living in the best city in the world, but the fact is that month after month, the numbers on your rent climb higher and higher.  Leaving you to find increasingly novel places to hide from your landlord.


via GIPHY

But just how expensive is your neighborhood? It’s now more expensive to live in some parts of Brooklyn and Queens than it is to live in certain neighborhoods in Manhattan. Property shark, a real state value research tool, has compiled a list of the 20 most expensive neighborhoods in NYC. Here they are, ranked by median sale price.

1. TriBeCa, $4,445,767

2. SoHo $3,600,000

3. NoHo $2,662,500

4. DUMBO $2,404,070

5. NoMad $1,960,131

6. Hudson Square $1,894,321

7. Chelsea $1,830,000

8. Battery Park City $1,705,000

9. Greenwich Village $1,650,000

10. Carnegie Hill $1,595,000

11. Forest Hills Gardens $1,562,500

12. Theatre District – Times Square $1,432,919

13. Carroll Gardens $1,430,000

14. Cobble Hill $1,315,000

15. Central Midtown $1,300,000

16. Flatiron District $1,270,000

17. Lincoln Square $1,210,000

18. Upper West Side $1,200,000

19. West Village $1,192,500

20. Gowanus $1,136,250

What does this mean compared to other years? Analysis from last year’s report reveals a bunch of interesting facts. Overall, NYC transaction levels were significantly lower than a year ago, and the biggest drop was seen in Manhattan. Median sale prices, on the other hand, were up in all four boroughs. Brooklyn saw a 10% increase, while the median sale price in Manhattan stood at $1.05M. The highest yearly growth, however, was seen in Roosevelt Island, where the median sale price was $1.08M, up 128%.

Only one thing left to say…

Featured image source [curbed]

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