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Where Do Rich People Live in New York?

New York is home to millionaires and celebrities and is one of the most expensive cities in the world. It is a home to 126 billionaires. The average cost of living for a family of four is estimated to be $9,318 while it would cost a single person $6,553 to live in New York. Some of the millionaires who live in New York City include Michael Bloomberg, Julia Koch, and Leonard Lauder. But then, where do millionaires live in New York?

Here, we are going to answer this question; where do rich people in New York live?  

Where Do the Rich People Live in New York?

The following are some rich areas in New York where rich people and celebrities live.

1. Noho

Noho, a short form of North Houston is one of the richest neighborhoods in New York. It is located in Lower Manhattan. The average price of a house is $3.25 million. Noho is located at the heart of Downtown and is a great place for rich families. The suburb has many amenities like a rooftop BBQ or picnic area, bike racks, recreation centers, parking garages, and fitness centers.

2. Hudson Yards

Hudson Yards is another place where the rich live in New York. It is located in midtown Manhattan. The average cost of properties is $3.20 million. There are many high-end condominiums that are coming up every day in the suburb. Most of the properties come with amenities like fitness and aquatic centers, a golf club lounge, pet services, private SPA, and a lounge.

3. Tribeca

Where do rich people live in New York? Tribeca is one of them. It is a rich neighborhood that is popular with celebrities. The average property prices in Tribeca are $3.15 million. There are many high-rising condominiums and luxury houses coming up. Among the tallest towers in New York include 56 Leonard and 30 Park Place.

4. Central Park South

Central Park South located in Midtown Manhattan is also one of the places where rich people live in New York. It is one of the boroughs with luxurious residential skyscrapers. The average cost of a house is $3.05 million. Some of the notable buildings in the borough include 432 Park Avenue, One57, and 111 West 57th.

5. Nolita

Nolita, which is a short form for North of Little Italy is also an expensive suburb in New York. The average property prices in Nolita are $3.0 million. Nolita is a cultural and entertainment center in New York. It is located in the middle of Noho and Soho. The borough has a conducive atmosphere with tree-lined streets.

6. Theatre District

Theatre District is located in Midtown Manhattan. The borough is well known for its many theatres, movie theaters, hotels, and restaurants. There are also many entertainment joints. The average house prices are $2.97 million. There are many developments coming up in the suburb giving you a chance to choose a property from a wide variety.

7. Bowery

Bowery is one of the fastest-growing boroughs in New York. It was one of the cheapest places to live in New York, but with the rise of many expensive condos, the suburb has become one of the most expensive suburbs in New York. The average property prices are $2.35 million. The M103 bus runs in the suburb and as such transport is not an issue.

8. Soho

Soho, a short form of South Houston is located in Lower Manhattan and it is a popular place for artists with many art galleries. It is one of the places where wealthy people in New York live. The average house prices are $2.3 million. There are many boutiques, cultural scenes, and shopping centers.

Also read: Where do millionaires live in USA?

9. Civic Center

Civic Center is a rich suburb in New York where rich people live. The borough encompasses New York City Hall and Mayor’s Office. There are also many real estate companies in the borough and the average property prices are $2.27 million. There are many high-end condos coming up every year. It is a great place to live for rich families in New York.

10. Hudson Square

Hudson Square is also an expensive place to live in New York. The average house prices average at $2.05 million. The development in the area has been influenced by development and expansion in Soho. There have been many luxury condominiums coming up every year. it is one of the quietest areas in New York and is located near the Hudson River waterfront. 

Summary: Where Do Millionaires Live in New York?

New York is the most expensive city in the world. Property prices and rental costs are very high in New York. This makes New York a home of millionaires and celebrities who can afford the cost of living. Many boroughs have grown in neighboring New York to accommodate the growing population. Besides, there are many high-end condos coming up every year in New York.

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