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.
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.
Local
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
