As you might expect, the wealthiest New Yorkers tend to live in Manhattan. But there are other expensive communities in the Big Apple that are worth exploring. Morris Park, located south of the Pelham Highway between the Bronx River Highway and the Hutchinson River Highway, is one such area. It's home to a number of medical centers and universities, including the Albert Einstein School of Medicine, the Jacobi Medical Center, and campuses of Yeshiva University and Mercy College.
Morris Park is also known for its vibrant Hispanic Heritage Day parade, which has attracted local leaders and celebrities. Malba, located at the foot of the Whitestone Bridge, is another great neighborhood for those with a high budget. A recent study conducted by PropertyShark analyzed the most expensive neighborhoods in New York City to buy properties. While seven of the ten most expensive homes are in Manhattan, exorbitant prices can be found throughout the city. Those who don't mind spending a bit more can find plenty of charming and expensive communities in the Big Apple. The New York City housing market cooled off during the first quarter of 2020, with both sales and median prices trending downward.
So where should those with a big budget look to put down roots? Read on as we explore ten of the most expensive neighborhoods in New York City. Real estate is all about “location, location, location”, so The Real Deal analyzed the numbers to determine which locations in New York City had the most expensive real estate properties last year. Hudson Yards is a newly developed neighborhood in New York City built on and around the massive MTA railroad yard along the Hudson River. It's become popular partly due to its location on the eastern border of the New York University campus and close proximity to some of the city's trendiest neighborhoods like Greenwich Village and SoHo. Plus, it's easy to get around Staten Island, Brooklyn, and New Jersey thanks to its proximity to the Staten Island Highway.
