East New York Named NYC’s Hottest Neighborhood

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!

9 thoughts on “East New York Named NYC’s Hottest Neighborhood

  1. Farrah Lafontant Reply

    Thanks for sharing Property Shark’s ‘endorsement’ but a ‘hot neighborhood’ is made up of more than just current median sale price of homes and accessibility to transportation. Neighborhoods, and most importantly COMMUNITIES are made up of people. I’ve lived in East New York for the last 16 years and by my definition it was always ‘hot’. Unfortunately, I have yet to arrive at the point that I can tolerate nor promote speculation by others. If people are now choosing to pay attention to and recognize the value that East New York had all along and what to ACTIVELY contribute to its continued success, “WELCOME”, if their intentions are purely nomadic and opportunistic, “BYE, FELICIA!”

    1. Tinnette Reply

      Dear Farrah,

      Hi to the damn Five to you! I’ve lived in ENY since ’79 and to date it’s been HOT and I’ve been saying it for years!

      I agree with you 100% and appreciate you standing up for the hottest neighborhood new to those finally paying attention. But please believe with more attention come higher stakes ($).

      Well said ma’am and welcome to the “it’s been HOT ENY to everybody else~

  2. Deborah Nance Reply

    I’ve been in the area for over 25 years and although I had absolutely no intentions of moving here, I did recognize its potential. I felt it was probably the best kept real estate secret! Thank God for EBC and its award-winning Nehemiah Home Ownership Program (led by Rev. Johnny Ray Youngbloid at the time) and the congregants of St. Paul Community Baptist Church, who sacrificed their hard-earned monies to help fund aspects of the program. The homes helped stabilize the community as new homeowners worked with community organizations and held them and the political
    leaders accountable for the change that lead up to an improved community neighborhood.

  3. hillary newman Reply

    Alternative facts…300K..what for?a business! Smh… crime as usual.. encased by 5 🙁 projects…muliple shelters…horrific schools…smfh

  4. ed furs Reply

    work hard to keep the dope from park slope’s hands off the nabe. ENY does not need Diblasio..he’s a hypocrite and corrupt!

  5. Shaifah Salahuddin Reply

    ENY has always had plenty of pluses despite its challenges. That’s why so many residents have stayed: to build & sustain this valuable area long before mainstream finally took notice. This “hotness” is a trumpet call for developers, investors & prospectors with their non-profit front companies to make $1 land claims & countless profits on this “new frontier”, under the guise of redevelopment, rezoning, renewal, etc. This eastward expansion/invasion furthers displacement. It should be an alarm for commercial & individual tenants & property/homeowners to remain staunch pro-active & vigilant.

Leave a Reply

Your email address will not be published. Required fields are marked *