According to a Curbed NY post, PropertyShark published their quarterly list of the most expensive neighborhoods (based on median closing price for each neighborhood). PropertyShark noted that Dumbo was one of the most expensive NYC neighborhoods in Q2 2011. In Q3 2011, Dumbo moved up one notch. Curbed writes, “Dumbo continued to rise in the ranks (up from #4 last quarter to #3), and Tribeca overtook Soho for the top spot.” Median sales price in Dumbo for Q3 was $1,460,000, which increased by 39% over Q2 (which was tops in NYC) and percentage change over the year was 99%. PropertyShark’s listings of the most expensive sales in Dumbo last quarter were:
- 30 Main Street, #11G sold for $2.8MM on 7/11/2011. 2,474 sqft ($1,131/sqft), 3bed, 2.5bath, $2,035/mo cc, (PropertyShark listing)
- 31 Washington Street, #15 (aka #6B) sold for $2.8MM on 8/23/2011. 3,194 sqft ($970/sqft), Open floor plan, 2.5bath, $843/mo cc, (Featured on Brownstoner)
A commenter on Curbed notes: “So the neighborhood with the highest rate of appreciation is DUMBO. The neighborhood with the 2nd highest appreciation over the year was Boreum Hill. IN BROOKLYN. So Brooklyn snags the top 2 slots for housing appreciation in all of NYC. Surprised West Village didn’t make the top 10 though.” Is Dumbo WAY too bubbly for its own good?