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NYC’s most expensive neighborhoods include several new Brooklyn entrants

April 16, 2018

PropertyShark just put out its quarterly report of the city’s priciest neighborhoods, and for the umpteenth time, Tribeca has emerged on top. PropertyShark determines the most expensive neighborhoods based on median sales price, and Tribeca took the lead with $3.5 million.

 

That was a 30 percent decline from the same time last year, but Tribeca still squeaked out a win beating out Soho, which had a median sales price of $3.2 million. One of the reasons for the decline in Tribeca was the lack of big ticket sales, PropertyShark explains. Last year, Tribeca was buoyed by massive sales at 30 Park Place and 56 Leonard Street, but that wasn’t the case this quarter.

 

Brooklyn neighborhoods also made major surges in the top 50 list of most expensive neighborhoods in the city, but more on that in a little bit.

 

Manhattan once again dominated the priciest neighborhood list when it came to the top 10—9 of the neighborhoods in this sub-section are from Manhattan. Brooklyn’s trusty priciest neighborhood, Dumbo, held on to its fifth place position on the list from the same time last year. The neighborhood clocked a median sales price of $1.9 million.

Brooklyn saw many neighborhoods on the ups most notably Fort Greene, which saw a 131 percent year-over-year increase. That percentage of increase was the highest in the top 50 list; A $3.2 million sale at 59 South Elliot Place was the neighborhood’s priciest. Other Brooklyn neighborhoods that gained traction were Greenpoint (much of it due to sales at The Greenpoint), Carroll Gardens, and Park Slope.

Queens didn’t crack the $1 million mark, but seven neighborhoods from the borough made it to the top 50 list. Belle Harbor emerged as the priciest neighborhood in the borough with a median sales price of $995,000; the most expensive sale in the neighborhood was the $1.575 million closing of the house at 270 Beach Street.

 

 

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