We’re all pretty much familiar with Forbes’ annual list of the most expensive zip codes in the U.S. which last year ranked West Village’s 10014 as New York City’s most expensive zip code. But how do the rankings change if we analyze entire neighborhoods and move away from the strict zip code boundaries?
Not so surprisingly, SoHo and TribeCa were the two most expensive neighborhoods in New York City, both having a median home price exceeding $2 million in the second quarter of 2011. But we did not expect to see a Brooklyn neighborhood – Dumbo - so far upfront, ranking higher than some long-established affluent neighborhoods like the West Village or the Upper East Side. And it wasn’t the only neighborhood in Brooklyn that made it on to our list – with a median sale price of $801,000 Boerum Hill was the 10th most expensive New York City neighborhood in Q2 2011.
With a median sale price of $2,147,500 Soho topped the list in Q2 2011, recording a 26% increase compared to the median sale price in Q2 2010, which was $1.700.000. From the total of 60 residential properties sold in Q2 2011, 17 were located in the Trump Soho Hotel. In 2010 the SoHo zip code 10012 ranked 7th in Forbes top 10 list of America’s most expensive zip codes.
After being named by Forbes the 12th most expensive zip code in America in 2010, in Q2 2011 Tribeca is in second place, with a median sale price of $2,019,250. Of the 80 properties sold in the neighborhood during the second quarter, only 8 were under $1M. Compared to Q2 2010, the median sale price decreased 3%. Currently the most expensive residential property for sale in Tribeca is a 13,479 sqft triplex penthouse located at 144 Duane Street, available for $30M.
3. Flatiron & Union Square
With 106 residential properties sold in Q2 2011 and with prices ranging from $267K to $1.3M , Flatiron & Union Square came in third place.
Surprisingly, Dumbo surpassed many high-end Manhattan neighborhoods and is in forth place with a median sale price of $1,075,000, 9% up from the median sale price recorded in Q2 2010, which was $990.000.
|5. Upper East Side
Hosting the most expensive single-family home for sale in NYC, the $90M mansion belonging to Lucille Roberts, the Upper East Side had a median sale price of $970,000 in Q2 2011.