An epicenter of art and culture, enchanting New York City also boasts a thriving and expensive real estate market. The city’s rich history and architecture, both historic and modern, set the backdrop to some of its spendy but thriving neighborhoods.
As some of the most expensive neighborhoods in NYC, the following seven communities continue to be good real estate investments for those who can appreciate the city. Whether a purchaser is seeking to immerse themselves in history, gain access to good schools for their children, or just acquire high-end NYC real estate, each of these neighborhoods has something to offer.
Tribeca used to be a textile-producing warehouse district, which is reflected in the designs of the buildings that were later turned into residences. By combining modern amenities with strong industrial vibes, the area saw an uptick in building conversions which created homes that attracted high-profile celebrities. Some still live there today.
Residents of Tribeca enjoy a lovely view of the Hudson River, a below average crime rate, and family-friendly access to competitive schools. Living there isn’t cheap, though.The median sale price is approximately $3.6 million.
A trendy neighborhood, SoHo boasts an interesting history that can still be seen today. Its historic architecture currently stands in contrast to its many options for residents to enjoy some retail therapy. The area also maintains some remnants of its artsy revival during the latter half of the 20th century, with galleries still easily accessible for those interested in an alternative to shopping.
SoHo’s prices reflect its continued relevance to the NYC scene. According to Property Shark, homes were going for a median sale price of about $3.2 million in the last quarter of 2021.
Chelsea has always been a residential area, but this enclave also has a thriving arts scene. Residents have easy access to the beautiful High Line Park and can enjoy visits to many art exhibits by famous artists and those who are up and coming. Chelsea also hosts the Rubin Museum of Art, which is interesting given its historic roots as an area where immigrants settled.
To purchase real estate in this NYC neighborhood, you will have to dish out around $999K.
West Village is another neighborhood that not only gives residents a view of the Hudson, but also steeps them in revolutionary history. The area is home to many historical landmarks, reminding its citizens of those who came before them. Buying a home here is buying property where great, influential people lived and events like the Stonewall Riots occurred.
Today, newer architecture is making its mark on the scene, and some celebrities call the area home. You can also find professionals with money to spend, eager to become residents of the East Coast. Purchasing a home in an area with such rich history will run a buyer a median sale price of about $1.7 million.
For those seeking to integrate into high society, Carnegie Hill is the place to start. Not only is its past filled with remnants of the wealthy who settled in the town, but it remains an investment for the future as well. The area boasts monuments and rich properties, some of which have been converted to museums or schools.
For those with families, Carnegie Hill’s prestigious schools and fun, educational activities make it an excellent choice. A home can be purchased here for a median sale price of $1.6 million.
Upper East Side
Here you will never be bored, as there is a plethora of shopping options and cultural events. Not only is the area known for good schools and a more relaxed atmosphere perfect for families, but residents also have easy access to some of the world’s most prestigious and famous museums. No matter what you enjoy in life, you will find something that suits your taste in the Upper East Side.
According to Realtor.com, to experience the luxury of the Upper East Side, homes are going for a median sale price of $1.5 million.
Another primarily residential neighborhood, Gramercy Park, has housed both major political and art leaders in the past. This NYC neighborhood contains the private Gramercy Park, its namesake, and history can be seen and felt everywhere. Residents enjoy easy access to many entertainment options, including musical ones.
Gaining access to Gramercy Park and the area’s interesting history will run a buyer a median sale price of $960K.
Owning Your Own Piece of NYC Real Estate
Enjoying access to historical areas and/or elite schools definitely comes with a price tag, and this is made obvious with these seven expensive NYC neighborhoods. The cost is high to make your own home here on the East Coast, but people who enjoy living surrounded by art, culture, and history are willing to pay the price.