New York Upper East Side becomes priciest address code in US: Forbes
October 18, 2012, 12:06 am TWN
NEW YORK -- An exclusive area of New York's Upper East Side, where the median price for a home is US$6.5 million and the most expensive will reach US$40 million, has become the priciest address code in the United States, according to Forbes.
The tree-lined streets that border Central Park and the East River and run from E. 61th to E. 69th streets, home to media mogul Rupert Murdoch and cosmetic tycoon Ronald Perelman, bumped Alpine, New Jersey from its perch on the annual list.
"This is the first time that a Big Apple neighborhood has topped our list," Forbes said of the New York area with the ZIP code 10065. "The main factor driving listing prices in America's most expensive ZIP codes this year is lack of inventory."