North Shore areas make Forbes’ most expensive list

Joe Nikic

Great Neck, Manhasset, Roslyn, Port Washington, and Old Westbury were among 26 Long Island locations to make the list of “500 Most Expensive ZIP Codes” released Tuesday by Forbes.

Real estate research firm Altos Research compiled the median home price data of 29,500 ZIP codes across the country, which Forbes said it used to make the list.

Old Westbury ranked highest among the ZIP codes on the North Shore, coming in at 44 nationally.

Altos found the median home price in Old Westbury to be $3,105,880.

“In Old Westbury, a lot of the reasons why people move there are because there are large estates and everybody wants property,” said Michael Berman, president for Automatic Real Estate Associates. “That’s the main thing you’re getting for you’re money. You’re getting a lot more land and property and a lot larger homes. Some of the homes are 10,000-15,000 square feet.”

Berman added that many homes have a minimum of two acres of land.

He also said close proximity to a major highway such as the Long Island Expressway attracts people to Old Westbury.

Old Westbury appeared on the 2014 list at number 49.

Great Neck appeared three times on the list, with 11024, the ZIP code for the Village of Kings Point and a small portion of the Village of Great Neck, ranking highest at number 60.

The median home price in Kings Point is $2,742,051, Forbes said Altos found.

In September, an eight-acre compound in Kings Point with an unobstructed view of the Manhattan skyline was listed by Coldwell Banker Residential Brokerage for sale at $100 million.

Coldwell Banker Residential Brokerage salesperson Diane Polland said a lot goes into the prices of homes in that area.

“There’s the proximity to New York, the extraordinary quality of life, excellent schools, private police, it’s beautiful, and a lot of water views,” she said.

Kings Point rose on this year’s list from last year’s ranking of 91.

The second highest Great Neck ZIP code was 11020, the Village of Lake Success, which appeared at number 268 on the 2015 list.

Altos’ research found the median home price in Lake Success to be $1,385,557.

“Again, there is the proximity to the city, a private police force, and they also have the Lake Success Golf Club that one is eligible to become a member,” Polland said. “It has very nice amenities.”

Last year, Forbes ranked Lake Success at number 288.

The last Great Neck ZIP code on the list was 11023, an area consisting of the Villages of Great Neck and Saddle Rock, which appeared on the list at number 365.

This area was not ranked in the 2014 list.

Polland said demand has increased the prices of homes in the area, thus explaining how the ZIP code jumped on to the list.

Altos found that the median home price for a home in the Villages of Great Neck and Saddle Rock was $1,164,207.

Polland also said the excellent Great Neck Public Schools system plays a big role in what makes all three areas of Great Neck a desirable destination for home buyers.

The third highest ranked ZIP code in the North Shore was 11030, which is Manhasset.

Manhasset dropped on the list from their 2014 ranking of 108 to their 2015 ranking of 141.

The median home price in Manhasset was found by Altos to be $1,866,118.

“If it were just about nice homes, there are plenty of places to find nicer homes for much less money. But the things that make Manhasset special are the good schools and the good commute,” said Rally Robinson, a real estate salesperson for Accent on Real Estate. “But then there’s a lot of intangibles. It’s a real community. It’s the kind of place where you walk into the deli and it’s the same faces that are smiling and they really know you.”

Robinson said a drop in ranking did not necessarily mean the value of homes was decreasing.

“There’s always a little big of wiggle room in those statistics,” she said. “Last year the high mark was $6.2 million, which was a house bought by a celebrity, whereas this year’s statistics might have skewed a little because we didn’t have a $6.2 million dollar home sold.”

The 11576 ZIP code, which covers areas of Roslyn including East Hills, Roslyn Harbor, North Hills, and Roslyn Estates, appeared on the list at number 336.

Altos found that the median home price in the area was $1,214,988.

Berman, an East Hills resident, said the area is “on fire” in terms of real estate because of the Park at East Hills opening in 2006.

“The park has become incredibly attractive to a lot of families in moving to East Hills and Roslyn,” he said. “It’s a great place for families, both young families and older families to meet other families when they move out to the suburbs.”

Berman also said while the homes and properties may be smaller in Roslyn compared with Old Westbury, the area was “very beautiful and scenic.”

Roslyn’s 2015 ranking dropped from the 2014 ranking of 322.

The largest increase in ranking saw the 11050 ZIP code, which includes areas in Port Washington, Sands Point, and Manorhaven, jump from number 448 in last year’s list to number 348 in the 2015 list.

The median home price was found to be $1,191,865 by Altos.

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