The New York City’s real estate is concentrated among its five boroughs consisting of Bronx, Manhattan, Queens, Brooklyn and Staten Island. Each of these boroughs has huge demand for their real estate properties among both international real estate buyers as well as domestic real estate buyers.

1. New York City boroughs real estate scenario
The New York City’s real estate is concentrated among its five boroughs consisting of Bronx,
Manhattan, Queens, Brooklyn and Staten Island. Each of these boroughs has huge demand
for their real estate properties among both international real estate buyers as well as
domestic real estate buyers. Of the five boroughs of New York City, the 28 square miles
Manhattan is one of the most densely populated counties in the United States. Bounded by
the Hudson and East River, Manhattan is made up of 21 neighborhoods with an estimated
population (2012) of 1,619,090. Manhattan is home to some of the nation’s as well as
worlds most valuable real estate with a wide array of housing options that are scattered
across dozens of neighborhoods each with its own unique features.
The real estate buyers can choose from among myriad choices of available Manhattan
condominiums for sale or Manhattan apartments for sale in locations such as Upper
East Side, Upper West Side, and Tribeca or for townhouses in Greenwich Village. Manhattan
is also the nation’s retail epicenter for its robust shopping corridors with the rising demand
and competition for space in this borough’s most prestigious corridors that catapulted the
average asking rents to peak levels. As per the Real Estate Board of New York’s (REBNY’S)
Fall 2013 Retail Report, the asking rents saw the biggest jumps in the shopping corridors of
Madison Avenue ($1,380 per square foot), Westside Broadway Corridor (average rents rose
38% to $434 per square foot), Fifth Avenue Corridor ($3,170 per square foot). Flatiron
Corridor (rose by 47% to $400 per square foot) from fall 2012, SoHo Broadway Corridor
(rose to 41% to $762 per square foot) and Financial District Corridor (average rents rose by
69% to $257 per square foot).
The Bronx is the New York City’s northernmost borough that is made up of distinct
neighborhoods that includes Riverdale, City Island, Pelham Manor and Morris Park. The
estimated population (2012) is around 1,408,473. Bronx also offers a wide variety of
housing options for real estate buyers to choose in the areas such as Riverdale and
Pelham Manor. International real estate buyers have the choice of buying upscale
homes and apartment complexes some of which have enchanting Hudson River Views.
The Queens is located in the easternmost of the five boroughs of New York City and ranks
as the second most populous of the five boroughs. The population of the boroughs is one of
the most ethnically diverse counties with an estimated population (2012) of 2,272,771. The
residents of Queens closely identify with their unique neighborhoods rather than the city

2. each having its own distinct identity. Astoria is the hottest and most popular areas in
Queens where there are numerous available New York apartments for sale. Recently, an
Astoria based real estate firm has sold two apartment buildings for $60 million in the
booming Queens enclave of Astoria. The average price per square foot in Astoria is $396
and (is less gentrified than Astoria) in Long Island City is nearly twice that amount at $785
per square foot.
Brooklyn is also one of the New York City’s five boroughs with a population (2012) of
2,565,635 and is the second largest in area. Brooklyn properties retain a cozy, quite quality
atmosphere with attractive brownstone houses and apartments that have rustic style.
Brooklyn contains dozens of distinct neighborhoods such as Bedford-Stuyvesant, Brownsville
East New York, and Coney Island. Off late, Brooklyn’s rents are in overdrive mood showing
no signs of cooling down with October’s medial rental price hitting $2,699 which is 6.8%
jump compared with last year according to the report from Douglas Elliman.
The last but not the least of the five boroughs of New York City is the Staten Island that is
located in the southwest part of the city. Staten Island is the third largest borough with an
area of 59 square meters and is least populated of the boroughs with a population (2012) of
468,730. The real estate of this borough is of finite amount with rentals not staying on the
market for long. There are varieties of housing options with some international real
estate buyers flocking to Emerson Hill that has a measure of natural beauty and
wilderness. The other areas include Rose bank that has a real small town feel and
spectacular views of Manhattan skyline. Tottenville is where one can find grand Victorian
homes sharing space with compact condos and town houses. The Condo and Co-op prices
are catching up with the other boroughs of New York City but are still comparatively
affordable.