The Most Expensive Neighborhoods in New York City - NBC New York

The Most Expensive Neighborhoods in New York City

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    NEWSLETTERS

    Most Expensive Neighborhoods in New York City

    Some outer-borough neighborhoods have crept onto the list of New York City's most unaffordable places to buy property. (Published Tuesday, Oct. 18, 2016)

    What to Know

    • Brooklyn's DUMBO is now one of the most expensive neighborhoods in New York City

    • Queens neighborhood Forest Hills Gardens is now more expensive than the Upper West Side

    • TriBeca, SoHo and NoHo are the most expensive neighborhoods to buy in New York City

    It's now more expensive to live in some parts of Brooklyn and Queens than it is to live in certain neighborhoods in Manhattan.

    While Manhattan properties are typically the most unaffordable, the outer-boroughs have crept into Property Shark's top 20 most expensive neighborhoods in New York City.

    In Q3 2016, the property research company saw the median house sale price for DUMBO rise to just over $2.4 million.

    This placed the Brooklyn neighborhood as the fourth most expensive place to buy in New York City, ahead of Chelsea, Hudson Square, Greenwich Village and NoMad.

    Getty Images/Shooting LA/Sean Garrison

    Property Shark called the evolution of the DUMBO market "spectacular." The company said the soaring prices stemmed from a great sales streak in a new development at 1 John Street that saw 30 units go in the last three months.

    Another surprisingly high ranking neighborhood on the list was Forest Hills Gardens, in Queens, coming in at 11th place.

    With a median house sale price of $1.56 million, Forest Hills Gardens is now more expensive than midtown or the Upper West Side.

    Carroll Gardens and Cobble Hill are also ones to watch, with the Brooklyn neighborhoods making it onto the list at places 13 and 14, respectively.

    The median sale price for Carroll Gardens was $1.43 million, while in Cobble Hill it was $1.32 million.

    Unsurprisingly, TriBeca, SoHo and NoHo led the list, with median sale prices of $4.45 million, $3.60 million and $2.66 million respectively.

    See the 20 most expensive neighborhoods in NYC Q3 2016, by median sale price, according to Property Shark, below:

    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

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