NYC Has 4x as Many Million-Dollar Neighborhoods than 10 Years Ago

Although some market indicators allude to a cooling market, New York City real estate is hardly chilly. Since 2010, the number of million-dollar neighborhoods – meaning those with a median sales price of $1 million or more – jumped from four to 17. The newest additions? Brooklyn neighborhoods, namely Brookly Heights, Prospect Heights, and the newcomer in 2019: Williamsburg.

While Manhattan still has the most million-dollar neighborhoods in the City, prices fell 3.7% last quarter while remaining stable in Brooklyn and actually increasing by 1.5% in Queens.

Still, the list is dominated by Manhattan and Brooklyn–but be on the lookout for Queens. Long Island City is toeing the $1 million line, with a median price of $903,419, up 10% over the past five years.

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