Brooklyn’s Dumbo makes it in the top 5 most expensive NYC neighborhoods

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.

1.SoHo
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.

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.

4. Dumbo
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.