Bushwick cracks 100 most pricey NYC neighborhoods

June 25, 2018 By Gordon Walker Special to the Brooklyn Daily Eagle

Architectural eye candy can be seen from Bushwick's Myrtle Avenue J, Z and M station. Eagle file photo by Lore Croghan

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Neighborhoods in Brooklyn are climbing the list of most expensive places to live in the New York metro area at an incredible speed.

Bushwick housing in particular rose 84 percent in price compared to 2008, and the median price for an apartment is now $788,700. The neighborhood climbed the ranks from 189th ten years ago to make the top 100 this year, coming in at 90th, according to Bloomberg.

Experts believe this growth is due in part to young people. Having been “priced out” of many neighborhoods in Manhattan and gentrified parts of Queens and Brooklyn, youth flocked to Ridgewood and Bushwick.

Mitchell L. Moss, an urban-planning professor at New York University, told Bloomberg in a phone interview that as Williamsburg was flourishing, Bushwick was discovered.

“My students have been priced out of the East Village, and they’re priced out of Williamsburg, so now they’re living in Bushwick, and they may buy in Ridgewood,” the professor continued.

This shift has resulted in coworking spaces, underground raves and neighborhood bars turning neighborhoods into vibrant cultural centers.

Other notable rises include Greenpoint jumping from 94 to 36 and Crown Heights rising from 89 to 44.