Average property price by neighborhood in New York

Based on popular demand from clients, here is an updated list of the average property price by neighborhood in Manhattan, New York.  The numbers are based on a snapshot of the average asking price of a 2-bedroom condominium.

There are many ways to slice and dice these types of data.  Being a former finance guy, I understand well how numbers can be cut differently to present a story.  For example, we could look at average price per square foot and the order would change.  Or the average price of a coop, average price of a 1 bedroom (vs 2 bedroom) condo etc.

Most expensive areas in Manhattan

The most expensive areas in Manhattan are generally West Village, Tribeca and Soho.  

However, as I always mention to clients, a good buy depends on location and building quality.  Just because a property is in the West Village doesn't mean it's hot, will appreciate tremendously etc.  "Most expensive" here refers to what you can get for a certain price point.  Or the amount of extra renovation you should still expect to put in despite already paying a very high price.  

For example, $1 million may only get an old 1-bedroom condo in the West Village.  But in another area, it may get a 1-bedroom in a nice luxury condo with amenities such as a pool, fitness center and nice courtyard.  To get a 1-bedroom in a luxury condo in the West Village, you may have to pay $2 million.  Hence West Village is "expensive."

Running a neighborhood

Learning a neighborhood can be done several ways - by car (least effective), by walking (most effective) and by running (which I often do).

New York, Where To Live

Photo credit: Battery Park City's waterfront set to make the nabe real estate hotbed this summer. (Mario Tama)

Which Neighborhood is Best For You - AM New York

BY LUCY COHEN BLATTER

New Yorkers can usually be divided into two types -- the die-hards who would never leave the city for all the backyard space in the world, and suburban-dreamers who long for a calmer, more serene life among the concrete.

Here are five neighborhoods for each type of New Yorker.

Manhattan, New York apartment prices by neighborhood, zipcode

Manhattan apartment prices by zipcode and neighborhood.

Table from Miller Samuel showing average price, price per square foot by zipcode and neighborhoods.  Expected Tribeca and Soho to be at the top.

Most popular rental neighborhoods

Love this graph on the most popular rental neighborhoods in Manhattan and boroughs.  Also shows the most desired amenities by renters.  Published by Naked Apartments.
http://www.nakedapartments.com/rentstats/nyc

Best area in Manhattan for investment

Weimin Tan talks about whether there's a best area for investment in New York. It all depends.

Visit us at Castle Avenue Partners - Manhattan investment property