Rent has been high in Manhattan since about 1626.
Suddenly, those damned gentrifiers from the Netherlands drove the cost per square foot up to more Dutch guilders than anyone could afford, and New York City saw it's first outer borough exodus.
Now, hundreds of years later, we're seeing some disturbing trends in the City's real estate market: rent in some places in Brooklyn and Queens are higher than parts of Manhattan. No, it's not opposite day; real estate in NYC is just absurd.
Now, with new data from Streeteasy, we're able to compare rents across the City from 2015 and it's a little wacky.
Sure, nobody's wowed by the fact that Central Park South and Tribeca top the list for most expensive rents, but they're followed by Flatiron and then... DUMBO.
That's right, Brooklyn now has one of the five most expensive rents in the entirety of NYC, the most expensive city on the planet, meaning DUMBO is now near the top of the list of expensive places to live in the world.
What else is a little gut wrenching about this new data? Williamsburg, Cobble Hill, and Downtown Brooklyn are all more expensive than the East Village... and even The Upper West Side!
As for Queens, Long Island City reigns in as the priciest neighborhood in the borough, costing more than the Upper East Side and Yorkville.
Of course, prices steeply drop the deeper into the outer boroughs you look. For example, Jamaica, Queens is about half the price of Long Island City. Flatbush, Brooklyn is much less than half the cost of Park Slope.