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This is (Still) NYC’s Most Expensive Neighborhood

Bianca Bahamondes Bianca Bahamondes

This is (Still) NYC’s Most Expensive Neighborhood
PropertyShark recently released their annual list of the most expensive NYC neighborhoods and low and behold, Tribeca is still on top.

“TriBeCa reigns as the #1 most expensive neighborhood in NYC with $4.68M median sale price.”

That’s steep! According to the report by PropertyShark, there were less sales in the neighborhood this year (with 417 sales in 2017 compared to 2016’s 482). However, the cost made up for the difference in transactions since prices rose 12% from last year’s median.

Taking second place on the list was Soho with a median price of $2,997,500. As for Brooklyn, the most expensive neighborhood is DUMBO with a median sale price of $1,980,496. 

PropertyShark
PropertyShark

How exactly did they calculate these numbers?

“The median sale prices were calculated based on residential property sales closed between January 1st, 2017 and December 6th, 2017. The residential properties included in the stats are single-family homes, condos and co-ops.”

Featured image source: Photo Modified: Flickr / ShellyS / CC by 2.0