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admin 30.04.2014

But is 10065 indeed the most expensive zip code in New York City, let alone the entire country, as stated in Forbes? While we don’t claim Forbes published bogus stats on purpose, we find their methodology and choice of metrics inadequate for painting an accurate picture of the housing market.
Take a look at the graphic below to see what are the most expensive zip codes in NYC based on PropertyShark data.
Absolutely the only true indicator for real estate valuations, anywhere in the world is the price per sq.ft paid for that property. Using the left mouse click, select the desired location on the map and you will receive a list of cities in the surrounding area. New York Daily News America's most expensive zip codes: Forbes rounds up priciest neighborhoods in the country Forbes lists America's most expensive zip codes These zip codes are the most expensive in the country, according to an annual roundup by Forbes.

The most expensive US zip codes list compiled annually by Forbes Magazine makes no exception. Have prices in the Upper East Side gone up 6 times since the closings of the property transactions we used in order to compile the median sale price? How relevant are any real estate stats published for Manhattan that don’t take into account half of the borough’s transactions? Sale prices also reflect coops that have sold in Manhattan since the beginning of the year. If one wishes to be even more accurate, adjustments should be made as to factor in the apartment and the building amenities. In fact, Upper East Side’s 10065 heads their list this year, securing the coveted #1 for the first time.

Not very, and this reminds us of a similar debate on the relevancy of the Case-Schiller Index to Manhattan real estate market. It is really the price paid per sq-ft which is the true indicator of how pricey a neighborhood is. The other suggestions are not worth the considerable effort, because they will not substantially change the results. For the first time ever, New York City has topped Forbes' list of most expensive zip codes, with the area between 60th and 69th Street from Fifth Avenue to the East River landing in the No.

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