But calling real estate in all of New York City super expensive is to miss the point. There’s plenty of affordable real estate in the city, as long as you don’t mind a long commute (or New Jersey).
The map above, compiled by architectural designer Cat Callaghan and developer Constantine Valhouli, visualizes what prices for residential real estate are like per square foot in neighborhoods around the city.
A lot of real estate data, says Valhouli, “gives you the sense of being informed without really knowing enough information.” Even the above images aren’t the full picture. How long does it take to get to Midtown from each neighbourhood? What are apartments like?
The West Village, for instance, has a lot of teeny tiny spaces with high prices per square foot. The Financial District is cheaper, but also has larger spaces, many of which have been converted from old commercial buildings with large floor plates.
Valhouli says as a developer, he and his company “wanted to identify the pockets of unexplored value close to the city.” For now, Jersey City is looking really good. It’s not on a lot of people’s radar, but he thinks it’s a good value that people will eventually discover.
“I moved here in 1997, before Brooklyn was cool,” he said. “No one aspired to live in Brooklyn then. I think the same thing will happen [with Jersey City].”
Perhaps the most interesting part of these maps is the tiny part outer Brooklyn that sticks up high. “There’s a tiny Sephardic Orthodox enclave within gravesend,” says Valhouli. There are huge mansions that go for eight figures. Both by price per square foot and median price, it’s one of the most expensive places in Brooklyn.
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