Tribeca, Hudson Yards top list of most expensive NYC neighborhoods

Unsurprisingly, Hudson Yards has entered the ten most expensive neighborhoods in NYC as it now occupies second place after Tribeca, according to a new report. The PropertyShark report looks at residential transactions in the second quarter of 2019.

Tribeca tops the list, with a median sales price of $4.34 million, followed by Hudson Yards at $3.86 million. The analysis also found that Little Italy’s prices increased by 153 percent, with the neighborhood landing on the third spot with a median sales price of $2.6 million.

The only Brooklyn neighborhood in the top ten list—also not surprising—is Cobble Hill, which occupies the seventh place at $2.35 million. Dumbo saw a significant decline in price, down 40 percent compared to last year, at $1.5 million.

Soho, Garment District, Hudson Square, Flatiron District, the Greenwich Village, and Gramercy Park are also in the top ten.

The report also notes that while Queens’s Ditmars-Steinway median home sale price hasn’t reached $1 million, its year-over-year median price saw a 79 percent increase, reaching $964,500.

As the city’s mansion tax took effect on July 1, the report says, buyers rushed to close on purchases “to avoid paying the new tax.” See a map below and read the full report here.

Source: Valeria Ricciulli, Curbed NY