Land Prices in New York City: Per Square Foot by Borough & Neighborhood

NYC land values vary by two orders of magnitude—from $100/ft² in the South Bronx to $5,000+/ft² in prime Manhattan.

Borough Averages (Raw Land, 2023–24 Estimates)

Borough	Avg $/ft²	Range	Notes
Manhattan	$1,200	$500–5,000+	Highest: Tribeca, SoHo, Midtown East, UES. Low: Inwood, Washington Heights.
Brooklyn	$600	$200–2,500	DUMBO, Williamsburg, Park Slope > East NY, Brownsville.
Queens	$500	$150–1,500	LIC, Astoria, Forest Hills > Jamaica, Far Rockaway.
Bronx	$300	$100–800	Riverdale, South Bronx waterfront > Central Bronx.
Staten Island	$250	$100–600	North Shore > South Shore.

What Drives Price

Zoning (FAR): Buildable floor area ratio — the real commodity.
Transit access: Subway proximity = premium.
Assembly potential: Assemblage premium for contiguous lots.
Use: Residential > commercial > industrial (usually).
Air rights: Transferable development rights trade separately.

Data Sources

NYC DOF Rolling Sales / ACRIS (actual transactions)
CoStar, RCA, JLL, CBRE market reports
NYC Planning Open Data (PLUTO, MapPLUTO)

Caveat

"Land value" is theoretical—teardown sales reflect land + demolition cost. Vacant land sales rare in Manhattan. Always verify with current comps for specific block/lot.

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