Owning a townhouse in New York City may be the real estate dream for many city denizens, but how realistic is that ambition? It all depends on the location you're after. If you're one of those bajillionaires who can afford to combine multiple homes into one megamansion, the entirety of the five boroughs is up for grabs; but for the majority of New Yorkers, that's not likely the case.
But for those who are still chasing that townhouse dream, the data whizzes at NeighborhoodX ran the numbers on prices during the month of February in more than a dozen Brooklyn and Manhattan neighborhoods, and compiled them into one handy little interactive graph. The interactive element allows you to enter the square footage for a potential home—2,000, 10,000, or as big (or small) as your heart desires—to see how each respective neighborhood compares.
The priciest neighborhoods in each borough are hardly surprising: Greenwich Village comes out on top in Manhattan, with townhouse prices as high as $2,662 per square foot; Brooklyn Heights, of course, takes the no. 1 spot in Kings County (and is fifth on the list overall), with prices reaching $1,516 per square foot. The other top areas are the ones you'd expect: the West Village, the Upper East and West Sides, Brooklyn's Cobble Hill, and so on.
As for the least expensive, Manhattan's Hamilton Heights neighborhood offers the best deal for buyers, with homes averaging around $592 per square foot. At $387 per square foot, Brooklyn's East New York is the cheapest of the neighborhoods that are accounted for, with Mott Haven in the Bronx coming in second to last.
Another thing to note: Some neighborhoods that are still considered "on the rise"—Sunset Park and Bed-Stuy, for example—have average sale prices that are lower than $600 per square foot. That's unlikely to be the case for long: According to NeighborhoodX's data, the same was true of Greenwich Village nearly two decades ago, and you see how that went. Something for potential home buyers to think about, perhaps?
- Townhouse prices/sq.ft. (Feb. 2016) [NeighborhoodX]