2020 strikes again: NYC tumbles on list of 100 priciest zip codes

By Brick Underground | November 23, 2020 - 9:30AM

Looks like 2020 delivered a knockout punch to prices in Tribeca: The neighborhood, which is historically one of the most expensive in the city, for the first time in at least five years did not make it onto the top 10 of PropertyShark’s annual list of 100 priciest zip codes in the U.S.

In another first: No NYC zip codes ranked among the top 10 on PropertyShark’s latest list, which measures median prices. “As one of the early epicenters of the pandemic, NYC’s real estate felt the effects of Covid 19 at a sharper degree than others” the report notes.

In past years, Tribeca’s 10013 or 10007 zip codes had some of the highest median prices in the country. In 2017 both zips had medians in the $4 million range, taking the #2 and #4 top spots in the U.S., respectively.

In 2020, there were a total of 10 NYC zip codes on the list and four of them saw median prices drop with double digit rates compared to the prior year. There was one notable exception to this trend: The median price for the Upper West Side’s 10069 increased by 42 percent as a result of luxury condo sales at 20 Riverside Blvd., jumping to $2,725,000 in 2020 from $1,920,000 last year.

Red Hook and Carroll Gardens’ 11231 zip landed Brooklyn on the list for the second year in a row—this year at #100. Its $1,450,000 median was unchanged from 2019, when it entered the list at #95—it was outpaced this year by price growth in other expensive zip codes.

Sagaponack, NY’s 11962 saw the third consecutive year as the #2 most expensive zip code in the U.S., holding its position despite a 10 percent drop to it $3,875,000 median.

To determine the list, PropertyShark looked at all residential deals that closed between Jan. 1st, 2020 and Oct. 15th, 2020. Because there were several ties, the ranking features 121 zip codes in all.

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