New Brooklyn Neighborhood Named Among NYC's Top 10 Most Expensive

BROOKLYN, NY — Watch out, DUMBO.

A new, lesser-known neighborhood across the borough has edged its way into the most expensive neighborhoods not only in Brooklyn, but across New York City, according to a Property Shark report.

Fiske Terrace — a small, historic community south of Flatbush — landed as the ninth most expensive neighborhood in New York City in the latest real estate study, which examined sales between July and September.

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The neighborhood's $1.65-million median price point made it the second-most expensive of the three Brooklyn neighborhoods that made the top 10, narrowly surpassing Carroll Gardens, which came in at the number 10 spot citywide. Fiske Terrace was still around $200,000 behind DUMBO, the long-reigning priciest neighborhood in the borough.

The ranking is a huge leap for Fiske Terrace, which has been ranked as low as 18th and 37th in past years.

Unlike most neighborhoods in the top 10, this year's ranking was the result of only a handful of high-price sales for the Brooklyn neighborhood.

Fiske Terrace recorded four single-family home sales and one co-op sale between July and September, researchers said. Other neighborhoods at the top of the list had as many as 148 sales during that time period, according to the study.

Across the city, residential sales were up 145 percent compared to the same span last year, when the coronavirus pandemic scared off buyers.

"(Forty-two) of the 57 neighborhoods in our ranking of the priciest neighborhoods in the city experienced double-digit year-over-year gains in sales activity," the study states.

Brooklyn in particular saw a 16-percent price jump compared to last year, according to the study.

Here's a look at Brooklyn's most expensive neighborhoods and where they rank citywide:

1. DUMBO — $1.82 million, #6 citywide
2. Fiske Terrace — $1.65 million, #9 citywide
3. Carroll Gardens — $1.60 million, #10 citywide
4. Vinegar Hill — $1.54 million, #11 citywide
5. Cobble Hill — $1.36 million, #13 citywide
6. Boerum Hill — $1.23 million, #17 citywide
7. Manhattan Beach — $1.2 million, #19 citywide
8. Park Slope — $1.2 million, #19 citywide
9. Downtown Brooklyn — $1.78 million, #20 citywide
10. Greenwood Heights — $1.16 million, #21 citywide

Read the study and see the full list here.