New Yorkers are back, baby! Migration statistics show a reversal of the pandemic-fuelled urban exodus experienced in 2020, with residents now returning to the city’s most popular boroughs. Analysis of United States Postal Service (USPS) change of address data shows that New York City’s net residential outmigration tripled from 2019 to 2020. The wealthiest neighbourhoods bore the brunt, with those living in the top 10 per cent of locations (as measured by median income) 4.6 times more likely to move than other residents during 2020. This trend was unusual, notes the analysis published by the Office of the New York City Comptroller, because in a typical year more people move into the Big Apple than out of it. Since July 2021, USPS data has shown a gradual return to the Big Apple, mainly in neighbourhoods that experienced the greatest flight However, since July 2021, USPS data has shown a gradual return to the Big Apple, mainly in neighbourhoods that experienced the greatest flight: notably, in Brooklyn, where net move-outs more than tripled from 8.3 to 28.7 per 1,000 residents in 2020, and Manhattan, where the numbers almost quintupled from 19.0 to 91.9 per 1,000. Highlighting the overall appeal of the top end of town, those moving out of the wealthiest neighbourhoods in 2020 were also most likely to return. Almost half of the people who had filed a postal change of address form indicated their move would be temporary, compared to less than 30 per cent in all other areas. Who is the richest Pink Floyd member? The band’s net worths, ranked The returnees seemingly brought with them a new appetite for property ownership. According to Miller Samuel and Douglas Elliman, Knight Frank’s residential partner in the US, flat sales in Manhattan reached 3,559 in the three months to the end of December 2021, the highest of any final quarter in 30 years. Kate Everett-Allen, head of international residential research Knight Frank, says this renewed sense of confidence is influencing the luxury market, with 1,877 contracts signed at US$4 million and above in Manhattan in 2021, totalling more than US$15.9 billion – a record performance for the city since 2006. Brooklyn’s performance was equally strong in the fourth quarter, with the median sales price rising 7.5 per cent year over year to US$941,000, setting a record for the fifth straight quarter and hitting 17.6 per cent above the same period in 2019, before the pandemic. Suggesting that trend is continuing, new signed contracts for condos in Brooklyn were up 13.4 per cent in March 2022 year on year. In a trend that is good for landlords – although not so for renters – median rents in Brooklyn rose 10.5 per cent the year to February 2022. Downtown Brooklyn is the third-largest central business district in New York City and home to a robust technology and innovation sector, vibrant shopping and is in proximity to more than 100 arts and cultural institutions Georgina Atkinson, head of US sales at Knight Frank Asia-Pacific Georgina Atkinson, head of US sales at Knight Frank Asia-Pacific, says Brooklyn as a market “is very attractive for owner-occupiers and investors right now”. “Downtown Brooklyn is the third-largest central business district in New York City and home to a robust technology and innovation sector, vibrant shopping and is in proximity to more than 100 arts and cultural institutions in the Brooklyn Cultural District,” she said. “Residents live in a creative, culinary and artistic Mecca of New York City, with many celebrated restaurants, and just minutes away from world-class parks and green spaces including beloved Fort Greene Park, Brooklyn Bridge Park and Prospect Park.” Meet Walt Disney’s billionaire-bashing grandniece, Abigail Disney “Significant new growth in the residential, hospitality and commercial sectors has ushered in a new era of 24-7 living in Downtown Brooklyn, with the introduction of new schools, infrastructure and transformative streetscape improvements under way.” Headlining the new developments is Brooklyn Tower, the borough’s first supertall residential tower where Brooklyn’s tallest condominium residences start on the 53rd floor at an elevation of 163 metres. Developed by JDS Development Group to a design by SHoP Architects, with residential interiors by AD100 firm Gachot Studios and amenities by Krista Ninivaggi of Woods Bagot, the tower commands soaring views of the Manhattan and Brooklyn skylines, New York harbour and East River. Atkinson calls Brooklyn Tower “a true game changer for the increasingly sought-after borough of Brooklyn”. “The building is directly adjacent to a key transport hub, with 13 subway lines running through the Downtown Brooklyn neighbourhood, providing convenient access to all pockets of New York City,” she said. “Several institutions of higher education are also in the immediate vicinity, which should resonate very well with parents looking to send their children to New York to study. “Given its highly desirable location, superior finish quality, incomparable level of amenities and trophy status as the tallest tower in Brooklyn, we expect to see strong demand from domestic and international purchasers. The lifestyle offering at the building hasn’t previously existed. With unprecedented city and harbour views across all residence types, it becomes a very attractive investment opportunity.” [Brooklyn Tower] is a true game changer for the increasingly sought-after borough of Brooklyn Georgina Atkinson, head of US sales at Knight Frank Asia-Pacific The mixed-use tower will feature over 100,000 sq ft of retail at its base – including the 115-year-old Dime Savings Bank of Brooklyn, a landmark being restored and integrated into the tower as a flagship retail destination for the city. Amenity spaces on the seventh floor will allow residents to swim and lounge around its historic dome. Additional amenities include a poolside lounge and cocktail bar, state-of-the-art health club and fitness centre with indoor lap pool and whirlpool, cinema with wet bar, a chef’s catering kitchen and private dining room, billiards room, a library with co-working spaces, conference room and private meeting room, plus a living room lounge, game room and children’s playroom. Why did these 5 Chinese tech billionaires step down? In the borough’s live-work hub of Dumbo neighbourhood (an acronym for Down Under the Manhattan Bridge Overpass), mid-rise condominium Front & York at 85 Jay Street offers resort-style flats. Designed by Morris Adjmi Architects, the mid-rise project will provide residents with a host of amenities on the eighth floor podium roof terrace including a co-working lounge, media lounge, game room, music room, kids’ playroom, party lounge, chef’s kitchen, bar and billiards room, wine room, coffee lounge, outdoor screening area and outdoor pool with grilling area. Plus a three-level Life Time Fitness flagship health club will offer an indoor pool, full-size basketball court, fitness floor, five studios and space for personal and small group training. Jason Schreiber, principal in investments at CIM Group, co-developer of Front & York, says these high-design new homes place residents in proximity to a variety of major companies’ offices and headquarters. “As a mixed-use development, Front & York is also supporting the existing neighbourhood with robust publicly accessible parking, ground-floor retail and 30-foot-wide, tree-lined pavements that maximise pedestrian comfort,” he said. How rich is Lady Gaga really? Inside her gigantic net worth Buying guide What you can buy from US$875,000: A studio residence at Brooklyn Tower, a 93-storey supertall tower anchoring a thriving residential neighbourhood in Downtown Brooklyn, New York City. Features include a 66th-floor sky deck housing a basketball court, dog run, outdoor children’s playground and table football. On the 85th floor a sky lounge exclusively for residents and their guests offers further space for outdoor dining and entertaining. Prices go up to about US$8 million for four bedrooms. What you can buy from US$1.05 million: A one-bedroom flat at Front & York, a new condo development in Brooklyn’s Dumbo neighbourhood. Residents have access to 150,000 sq ft of amenities including a 25,000 sq ft private park, NYC’s largest Life Time Fitness, a rooftop pool deck, coworking lounge, screening lounge, music studio, children’s playroom, wine room, chef’s kitchen and party room. Prices for current availability range up to US$4.59 million for a three-bed, 2.5-bath penthouse with private terrace. Want more stories like this? Follow STYLE on Facebook , Instagram , YouTube and Twitter .