It’s official! According to a recent Property Shark Survey, East New York has been named NYC’s Hottest Neighborhood!
On April 20, 2016, the East New York rezoning project passed through City Council despite concerns that it will invite gentrification to the area. The project is part of Mayor’s Bill de Blasio’s plan to preserve affordable housing and to promote the development of neighborhoods, and the anticipation that the area will experience growth in the next years landed it a spot at the top of NYC’s hottest neighborhoods for 2017. The median sale price in 2016 was at $339,275, a 19% increase year-over-year and a 44% increase in the past 5 years.
To stay updated with East New York, make sure to become a member by subscribing to the EastNewYork.com newsletter!