Real Estate Along the NYC Marathon Course

With the NYC Marathon coming up this Sunday, November 1, I thought it would be interesting to take a look at real estate along the marathon course. From Fort Wadsworth, Staten Island all the way up to Mott Haven, Bronx, here’s what you could expect if you wanted to rent or buy along the marathon course:


Fort Wadsworth, Staten Island

The marathon kicks off near the approach to the Verrazano-Narrows Bridge in Fort Wadsworth, a former United States military installation. Today, Fort Wadsworth is a park maintained by the National Park Service, and the surrounding residential area is made up of mostly single-family homes with very few rentals. Available housing stock is fairly limited here, with home prices ranging from $218/sq ft to $544/sq ft. One available rental is a 3-bedroom with 2 full bathrooms for $2,000, a steal compared to similar apartments in the other boroughs. 

Photo courtesy of luvandido.com

Photo courtesy of luvandido.com

Dyker Heights, Brooklyn
Known for its spectacular light displays around Christmastime each year, this small neighborhood is made up of mostly one-and-two-family homes. On average, buyers can expect to spend $524/sq ft, with median sales prices at $892,000. Renters can find a 1-bedroom for $1,200 – $1,500, which could be very convenient for those who have a car and don’t need to rely on subway access. 
Photo courtesy of filmore.com

Photo courtesy of filmore.com

Bay Ridge, Brooklyn
Since getting an express train to Manhattan in 2004, Bay Ridge has become increasingly popular among those who work downtown and are looking to avoid Park Slope prices. As a result, sales prices have increased by 30% over the past year alone. Median sales prices are now just shy of $1 million at $980,000, and the average price per square foot is $589. Renters can still find great deals – though the average rent for a 1-bedroom is $1,700, there are units available in the $1100 – $1400 range. 
Photo courtesy of sunsetpark.wordpress.com

Photo courtesy of sunsetpark.wordpress.com

Sunset Park, Brooklyn
This formerly sleepy neighborhood has been revitalized in recent months by the redevelopment of Industry City, which is drawing artists and small manufacturers to the area. While real estate prices are steadily on the rise, the median is still at just $430,000. Renters can expect to pay about $1,300 for a 1-bedroom near the water, though prices climb up toward $1,800 as you move closer to 4th Ave. 
 
Photo courtesy of explorebk.com

Photo courtesy of explorebk.com

Park Slope, Brooklyn
Known for its small-town feel and family-oriented demographics, Park Slope is one of Brooklyn’s pricier neighborhoods, with the average price per square foot at $1,063. The median sales price is $1,250,000, but prices can get up toward $11 million for larger homes. Studios go for $2,000, and 1-bedrooms average about $2,600. 

Boerum Hill, Brooklyn
The limited housing stock in this mostly low-rise neighborhood tends to drive up prices, but the short commute to Manhattan and proximity to Downtown Brooklyn makes Boerum Hill well worth the price. With median sales prices at $1,100,000, buyers can expect to pay $1,149 per square foot. Rental prices are quite varied, averaging around $2,700 for a 1-bedroom and climbing as high as $9,100 for a 2-bedroom in a new construction.

Clinton Hill, Brooklyn
Nestled among Fort Greene, Park Slope, and Bedford-Stuyvesant, Clinton Hill is known for its brownstones, Pratt Institute, and St. Joseph’s College. The median sales price for Clinton Hill homes is $820,000, making it an affordable alternative to nearby Park Slope. 1-bedroom rentals start around $2,200.

Williamsburg, Brooklyn
Buyers and renters alike can find a wide variety of housing stock in Williamsburg, from high-rise luxury buildings to brownstones. Real estate prices have gone up significantly over the past decade, but this seems to be slowing down. The median sales price is up just 3.7% over last year at $715,000. Renters should expect to pay near-Manhattan prices (an average of $3,400 for a 1-bedroom), since most of the turnover exists in Williamsburg’s luxury buildings. 
Photo courtesy of businessclassbackpacker.com

Photo courtesy of businessclassbackpacker.com

Greenpoint, Brooklyn
This largely Polish neighborhood has shed its sleepy image over the past few years as young families and working professionals have begun to populate the area. The median sales price for homes is $945,000, with an average price per square foot of $1,175. Rents in Greenpoint are actually down slightly from last year, though a 1-bedroom is still likely to cost around $2,600. 
Photo courtesy of Wikipedia

Photo courtesy of Wikipedia

Long Island City, Queens
Long Island City is seeing a development boom with more than 22,500 new units of housing on the way. Most of the available housing stock is within luxury high rises, but there are rentals to be found in smaller multi-family dwellings. The median sales price for homes is $825,000, with an average price per square foot of $818. The median rent for a 1-bedroom is approximately $3,000, but outside of the luxury developments the rents are closer to $1,500.
Photo courtesy of Wikipedia

Photo courtesy of Wikipedia

Yorkville, Manhattan
Now that the bulk of the construction for the Second Avenue subway line is wrapping up, Yorkville is increasingly appealing to renters who are priced out of the more expensive neighborhoods in Brooklyn. The median rent in Yorkville is just shy of $3,000, but 1-bedrooms can easily be found for $1,900. Buyers can expect to pay more, as the median sales price for Yorkville homes is $1,427,000 or $1,372 per square foot.

Mott Haven, The Bronx
This diverse, waterfront neighborhood is in a time of transition. As a result, rents and sales prices are much lower than in the nearest Manhattan neighborhoods. Two-family and multifamily buildings can be bought for anywhere from $200,000 to $1 million, based on size and condition.

Harlem, Manhattan
Renovated brownstones, new luxury developments, and modest multi-family homes are all available for those looking to move to Harlem. The median sales price for homes is $814,800, and buyers can expect to pay $844 per square foot. 1-bedroom apartments rent for about $2,200.

Columbus Circle/Upper West Side
The marathon finish line is at 67th Street on the West side of Central Park, just north of Columbus Circle. The median rent in this part of town is about $3,700, which is what you could expect to pay for a 1-bedroom. The median sales price is $1,275,00, which is actually down about 10% from last year.

Hope to see you at the NYC Marathon this year and if you are interested in any real estate along the course or elsewhere, please call me at (917) 302-0956.

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