Williamsburg Is Now A Million-Dollar Neighborhood, Study Says

WILLIAMSBURG, BROOKLYN — The number of New York City neighborhoods where typical homes cost more than $1 million has more than quadrupled in the last decade, and Williamsburg is one of the latest to join the ranks, a new study found.

Williamsburg was one of three Brooklyn neighborhoods to join the Million Dollar Club of New York City regions with a $1 million median recorded sales price, the real estate blog StreetEasy reported Monday.

With $1.04-million median prices, Williamsburg squeezed in at number 16 on the list of 17 New York City spots on the list, which used to be only five neighborhoods long in 2010. Prospect Heights and Brooklyn Heights also recently passed the threshold.

Williamsburg was one of two neighborhoods that broke the threshold this year, with the rest of the new add-ons passing the $1 million mark in the last five years.

Researchers said that Williamsburg, like Brooklyn Heights , likely made the ranks because of its "lively atmosphere and desirable location along the East River."

Brooklyn Heights' median cost came in around $1.01 million and Prospect Heights, landing on the list because of its single-family townhouses, clocked in at $1.16 million.

To compile the report, StreetEasy analysis examined New York City neighborhoods with at least 100 annual recorded sales between 2015 and 2019. Neighborhood sales prices greater than or equal to $1 million were admitted into the club.

The Brooklyn neighborhoods joined three Manhattan spots — Gramercy Park, the East Village and the Lower East Side — that also crossed the $1 million mark in the last five years.

Here are the other New York City Million Dollar Club members:

• 1. Tribeca, Manhattan, at $4,100,000
  2. SoHo, Manhattan, at $2,725,000
  3. Flatiron, Manhattan, at $2,163,781
  4. Midtown, Manhattan, at $2,000,000
  5. Greenwich Village, Manhattan, at $1,575,000
  6. Greenpoint, Brooklyn, at $1,578,287
  7. Gramercy Park, Manhattan, at $1,405,185
  8. Lower East Side, Manhattan, at $1,371,587
  9. West Village, Manhattan, at $1,300,000
  10. Chelsea, Manhattan, at $1,270,000
  11. Upper East Side, Manhattan, at $1,250,000
  12. Upper West Side, Manhattan, at $1,225,000
  13. Park Slope, Brooklyn, at $1,191,000
  14. Prospect Heights, Brooklyn, at $1,160,000
  15. East Village, Manhattan, at $1,071,000
  16. Williamsburg, Brooklyn, at $1,038,863
  17. Brooklyn Heights, Brooklyn at $1,010,000

Read the full analysis here.