17 Aug Virtualization Map Charts Hottest City Neighborhoods
This visualization of the city’s home prices shows how two streets tower above their neighbors: 57th Street in Manhattan and Ocean Parkway in Brooklyn.
The blue-collar neighborhood of Gravesend is Brooklyn’s most expensive, thanks to a small Syrian Jewish community whose members shell out millions for McMansions within walking distance of the neighborhood synagogues around Ocean Parkway.
Prices rise as high as $2,000 per square foot in blocks around Gravesend synagogues, according to NeighborhoodX, a new Web site that provides real-estate information on city neighborhoods.
There are many Manhattan areas that hit those same heights. But if 57th Street — the row of fancy condo towers such as One57 — was its own neighborhood, average prices could hit around $9,000 per square foot, said Constantine Valhouli, founder of NeighborhoodX.
By analyzing wider data than usual — such as comparing prices for co-ops versus houses — trends emerge.
The particularly large Gravesend prices occur in the eruv — an area where observant Orthodox Jews are able to engage in activities normally banned during Shabbat, such as pushing a baby stroller or carrying keys.
“This would have never been visible if we hadn’t separated it out as its own neighborhood — otherwise, it would have just increased the value of Gravesend properties overall,” said Valhouli.
Outside of the eruv, Gravesend’s overall average price is $531 per square foot.
Currently a McMansion at 2184 Ocean Parkway, a nearly 10,000-square-foot residence overflowing with gleaming marble, crystal chandeliers and grand staircases, is listed for sale at $8.9 million.
It was first put on the market in 2012 for $14 million but failed to sell.
Unsurprisingly, Manhattan soars with the most expensive prices in the city, with even Staten Island’s most expensive neighborhood — Todt Hill, where grand leafy residences that starred in “The Godfather” go for $328 per square foot — cheaper than Manhattan’s most affordable neighborhood (Inwood, $439 per square foot).
By neighborhood, the most affordable area of the city is St. George on Staten Island, where sales average $162 per square foot. Tribeca is the most expensive, at $2,680 per square foot.