Dumbo Soars to the Top of New York’s Most Expensive List

Like a giant-eared elephant, Dumbo has soared to the top of New York’s  list of most expensive neighborhoods, coming in fourth place after long-standing champs Soho and Tribeca. To the horror of Gossip Girl, Dumbo’s median price tag of $1.075 million beats out the Upper East Side, along with the Upper West Side, the West Village and Chelsea–and we have a conspiracy theory:

New Yorkers’ obsession with acronyms has caused a black balling of pedestrian full-named neighborhoods, favoring their hip-ly shortened counterparts. This underground movement of acronym enthusiasts has jettisoned Soho’s median price by 26% in the past year to $2.147 million, kept Tribeca a close second at $2,019,225, and put Brooklyn’s Dumbo on the list. They’re clearly a force to be reckoned with.

Brooklyn’s Boerum Hill also eeked onto the list at number 10. BoHi, anyone?

Source: The Real Deal

Photo credit: Dumbo NYC

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