DUMBO is Brooklyn's Priciest Hood

Dec. 31, 2015 —  

The most expensive neighborhood in Brooklyn to buy a home is DUMBO, with a median price of $1.4 million, according to a new report by real estate software provider YARDI.

In 2015, 71 homes – co-ops, condos and single-family dwellings – changed hands in the neighborhood located Down Under the Manhattan Bridge Overpass, with 31 of them selling for $1.5 million or more, as reported by DNAinfo. Water Street was the priciest address, with four homes selling between $4.1 and $4.8 million. The data was collected between Jan. 1 and Dec. 5.

Take a guess which Brooklyn neighborhood was the second most expensive. Brooklyn Heights? Park Slope? Nah. It was another waterfront neighborhood, Vinegar Hill, located just east of DUMBO, where the median price was just under $1.3 million. Sales prices across Brooklyn reached an all-time high in 2015.