NYC Neighborhood Comparison
Brooklyn
Queens
For buyers focused on affordability, Gravesend has the lower median sale price at $597K vs $950K in Long Island City.
Investors analyzing rental yield will find Gravesend offers a stronger rent-to-price ratio based on current market data.
Commuters have more transit options in Long Island City, which is served by 7 subway lines compared to 0 in Gravesend.
| Metric | Gravesend | Long Island City |
|---|---|---|
| Median Sale Price | $597,200 | $950,290 |
| Median Condo Price | $4,593,375 | $950,290 |
| Median Co-op Price | $480,000 | $640,000 |
| Median Rent | $3,000 | $4,595 |
| Active Listings | 175 | 309 |
| Rental Inventory | 64 | 1057 |
| Days on Market | 54.5 | 89 |
| Price Cut Share | 12.0% | 7.1% |
| Monthly Sales Volume | 17 | 21 |
| YoY Price Change | -40.0% | -1.0% |
| YoY Rent Change | -4.8% | +0.9% |
| YoY Inventory Change | +1.7% | +41.7% |
| Subway Lines | N/A | 7 E G M N R W |
Prices in Gravesend moved -40.0% over the past year, compared to -1.0% in Long Island City. Both markets have seen price softening, with Gravesend declining more sharply over the measured period.
Gravesend offers a broad housing mix including semi-detached single-family homes, postwar co-op towers, and newly constructed boutique condominiums spread across a grid of low-traffic residential streets in southern Brooklyn. The D, F, and N subway lines serve the neighborhood at multiple stations along Kings Highway and Avenue U, connecting to Midtown Manhattan in about 45 minutes. Calvert Vaux Park provides 73 acres of green space and waterfront access along Coney Island Creek.
View Full Market ReportLong Island City sits directly across the East River from Midtown Manhattan, reachable in one stop on the 7 train. LIC has added more than 12,000 residential units since 2015, transforming former industrial blocks into a corridor of glass-tower condos, converted loft co-ops, and rental high-rises along the waterfront. Gantry Plaza State Park, MoMA PS1, and the Hunters Point Library anchor the neighborhood’s cultural identity. Median condo prices run roughly 30-40% below comparable Manhattan waterfront units, drawing both first-time buyers and investors looking for appreciation in one of the city’s highest-growth zip codes.
View Full Market ReportNo subway data available
Hunters Point Av (7) — 0.2 mi
Court Sq (7 E G M) — 0.2 mi
Long Island City (E G M R) — 0.6 mi
Queensboro Plaza (7 N W) — 0.6 mi
Listing data is derived in whole or in part from the RLS at REBNY (Real Estate Board of New York) Internet Data Exchange (IDX) database. Real estate listings held by brokerage firms other than Milton Coste | Keller Williams NYC are marked with the RLS logo. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is refreshed every 15 minutes per REBNY IDX requirements.
From the 2008 financial crisis through the 2020 pandemic, the NYC metro Case-Shiller composite fell about 25% peak-to-trough between 2007 and 2012, then fully recovered by 2017 and gained another 15% through Q1 2020. Gravesend and Long Island City both tracked this broader NYC arc, with annual closing volume contracting sharply in 2009 and again in Q2 2020 before normalizing.
Outer-borough submarkets including Gravesend and Long Island City generally tracked the broader NYC metro pattern of a 20% to 25% peak-to-trough decline before fully recovering by 2017 and posting further gains through early 2020.
Source: Per Case-Shiller Home Price Index, NYC metro subset, 2008-2020, cross-referenced with StreetEasy historical price data series.
| Metric (2026) | Gravesend | Long Island City |
|---|---|---|
| Median Sale Price | $597,200 | $950,290 |
| Median Rent | $3,000/mo | $4,595/mo |
| Year-over-Year Price Change | -40.0% | -1.0% |
| Average Days on Market | 54.5 days | 89 days |
| Distance to Nearest Subway | N/A | 0.17 mi |
Table values reflect current 2026 market conditions. Historical 2008-2020 commentary is sourced from Case-Shiller NYC metro composite and StreetEasy historical series.
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Data updated:
