Photo: Ajay Suresh via Flickr.
According to Property Shark’s just-released ranking of New York City’s most expensive neighborhoods, Tribeca once again takes the top spot in residential sales with a median price of $4.34 million. The bigger news is Hudson Yards, on the list for the first time as the city’s second-costliest neighborhood in Q2 of 2019 at $3.86 million. Also notable was Little Italy, the city’s third most expensive neighborhood, which saw median home prices increase by 153 percent over last year’s numbers.
Additional noteworthy neighborhood moves include Brooklyn’s Cobble Hill, which jumped 171 percent to the seventh spot–the only Brooklyn neighborhood in the top 10–and Dumbo, which slid 40 percent to $1.5 million since last year’s ranking. Manhattan neighborhoods accounted for almost half the list. Along with Hudson Yards, Roosevelt Island was a new entrant with a median price of $1.24 million. Brooklyn took 21 spots, followed by Queens with 7.
Like Little Italy, Gramercy Park saw a huge year-over-year jump rising 87 percent to almost $1.7 million. This was due in part to the 33 closings at 121 East 22nd Street, which had a median of over $2 million, and 21 closings at 200 East 21st Street with a median of upwards of $2.5 million.
In Brooklyn, in addition to Cobble Hill’s rise–The Cobble Hill House with a median sale price of over $2.3 million accounted for 17 of the total 29 transactions in the neighborhood–and Dumbo’s slide, Prospect Park South experienced an increase of 142 percent $1.23 million, the bulk of which were tied to three house sales. In the Columbia Street Waterfront District, prices rose 86 percent from last year to $1.2 million, led by the boutique condo development at 161-163 Columbia Street.
In Queens, The Ditmars-Steinway neighborhood saw a median home sale price increase of 79 percent, with the median price reaching $964,500. Rockwood Park rose 23 percent to $845,000.
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Images courtesy of Property Shark.