Brownstones in Carroll Gardens.
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Hello Brooklyn.
For the first time in the site’s history, the borough has made it onto PropertyShark’s top 100 most expensive U.S. zip codes list. The historic waterfront neighborhoods of Red Hook and Carroll Gardens (11231) came in at No. 95, with a median sales price of $1.45 million.
“Brooklyn has been on the rise for years now, with more and more neighborhoods making their way into NYC’s most expensive neighborhoods ranking,” noted Eliza Theiss, a real estate writer with PropertyShark who authored the report. “An increasing number of Brooklyn buildings ranking among the city’s best-selling, so it was bound to happen eventually, but that does not take away from what a momentous occasion this is for the borough,” she added.
Regarding the specific neighborhoods of Carroll Gardens and Red Hook, a couple of factors contributed to their rise to the top 100. On one hand, several luxury condo and redevelopment projects kicked off sales this year, such as 145 President St., 161 Columbia St. and Merchant House.
Plus, the area is stocked with single-family homes, including many of the borough’s coveted, and expensive, brownstones. So far in 2019, 27% of sales in 11231 were single-family homes, according to PropertyShark. The median price for single-families is $2,545,000, more than $1 million more than its overall median.
Meanwhile, several other New York zips made the list’s top 10. Sagaponack (11962), a posh enclave in the Hamptons, is No. 2, with a median of $4.3 million. In Manhattan, 10007, which encompasses part of the start-studded downtown hotspot Tribeca (home to the likes of Taylor Swift, Jennifer Lawrence and Steven Spielberg), is fifth, with $3.9 million; 10013, which also includes Tribeca, in addition to neighboring SoHo, placed eighth with $3.515 million.
So who claimed the No. 1 spot? For the third year in a row, that would be Atherton, a coastal neighborhood at the north end of the San Francisco bay, which clocked a whopping $7 million sales median this year.
California claimed 91 of the top 100 spots this year, with 13 in San Francisco – the most out of any city, definitively making it the most expensive place to live in the country, according to PropertyShark. New York has the second highest number of zips in the top 100, with 18.
The New York metro area sales market has had a challenging year due to various economic and political factors. however, and market reports show that prices in the city dipped since the summer. Douglas Elliman reported the Brooklyn median at $790,000 in the third quarter, down 3 percent from that period in 2018. Its Manhattan median was $1.05 million in the third quarter, a steep 16 percent drop from last year.
The firm Citi Habitats found its Brooklyn median was $910,500 in September, a 9 percent decline from that month last year. Its Manhattan median was $1.45 million in September, also down 9 percent year-over-year.