New York's Cooperative and Condominium Community

Habitat Magazine Business of Management 2021

HABITAT

CO-OP/CONDO BUYERS

WHAT CO-OP/CONDO BUYERS NEED TO KNOW

“Queens is the New Brooklyn. The Bronx is the New Queens.”

New York City

Priciest Hoods
Oct. 13, 2016

Do you like your cliches by the bushel? Good. Real estate appraiser Jonathan Miller has a bumper crop for you. In speaking about recent trends in New York City, he tells Metro: “The way to think of this housing boom of the last four years is an outward radial push from Manhattan to brownstone Brooklyn and beyond to other boroughs and suburbs. Brooklyn is no longer seen as the cheaper alternative. It’s Manhattan’s director competitor. It’s its own brand.”

And here’s the best part: “Queens is the new Brooklyn. The Bronx is the new Queens.”

Miller’s remarks were made in response to a new third-quarter 2016 survey of the city’s 50 priciest neighborhoods by Property Shark. It found that the three most expensive neighborhoods were in Manhattan – Tribeca, where the median sale price was $4.4 million, followed by Soho and Noho. Brooklyn’s DUMBO came in fourth. The top Queens neighborhood was #11 Forest Hills Gardens.

Even though it’s the new Queens, no Bronx neighborhood is among the 50 priciest. And Staten Island? Don’t ask.

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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise

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