Battery Park City Is Home to Nation’s Priciest Rents: Study

(DNAINFO)  Amy Zimmer | May 26, 2017 — When it comes to the “most outrageous rent prices” in the nation, Manhattan takes the cake, a new analysis from search engine RENTCafe found.

Manhattan dominated the list of priciest ZIP codes from coast-to-coast, with eight of the top 10, including the first, second and third spots. San Francisco had the two other ZIP codes in the top 10.

Battery Park City’s 10282 ZIP code was the most expensive, with average an average rent of $5,924 a month.

The Upper East Side’s 10065 ZIP code, stretching from about East 60th to 69th streets, came in at No. 2, with monthly rent averaging $4,898.

The Upper West Side’s 10023 ZIP code, was third most expensive. Rents in the area stretching from about West 60th to 76th streets averaged $4,892 a month.

The ascendancy of Battery Park City prices reflects the rise of Lower Manhattan more than 15 years since the Sept. 11, 2001 attacks and the culmination of the billions of dollars in public and private investment that have been spent on the area to bolster transit, offices and residential construction as well as a burgeoning cultural scene and several new, highly regarded public and private schools.

“The affluent lower Manhattan neighborhood is an excellent choice if you’re a Financial District or Wall Street professional and love waterfront residences, green spaces, and quiet streets in the heart of the city,” according to a RENTcafe blog post, which used data from the Yardi Matrix database.

But Sienam Lulla, a broker with Compass and Lower Manhattan resident, noted that Battery Park City did not feel like the “heart” of Manhattan about a decade ago, when some house hunters avoided the area because it felt too suburban, too remote and too sleepy, she recounted.

Source: Battery Park City Is Home to Nation’s Priciest Rents: Study – Battery Park City – DNAinfo New York