Hudson Yards is still the heavyweight champ on list of NYC's 50 priciest neighborhoods

As pricey New York City neighborhoods go, Hudson Yards continues to eclipse the competition when it comes to the heftiest median sales price. 

Having held the top spot since 2019 on PropertyShark’s ranking of the 50 most expensive NYC neighborhoods, in the second quarter of 2024, Hudson Yards’ $7.5 million median sales price more than doubled #2 Soho’s $3.1 million median price. In the #3 spot was Tribeca, with a median price of $2.9 million.

The city’s top 10 most expensive neighborhoods were a familiar mix, the report found. Eight were in Manhattan and two were in Brooklyn, however most recorded only a handful of sales. Six of them had fewer than 20 sales in the second quarter.

Even in Hudson Yards, the most expensive area, where the median price was nearly a third higher than the year-ago quarter, sales were down 62 percent year over year, one of the most drastic sales drops among the city’s priciest neighborhoods.

For Soho sales saw a 13 percent decline, while in Tribeca sales were down 15 percent.

Making a comeback

The Bronx returned to the list for the second time ever after its first quarter 2023 debut. The borough is represented at #46 once again by Fieldston, now with a higher $900 median sales price.

Fieldston saw a shift in the type of properties that sold in the second quarter: 64 percent of the neighborhood’s second-quarter sales were single-family houses, as opposed to just 17 percent during the same period last year, propelling the enclave’s median price from the year-ago $252,000 to $900,000, the report said.

Another notable returnee was Chinatown—it used to be among NYC’s priciest neighborhoods in the past but has been left off the top 10 for the past two years. A jump in prices landed it at #6 with a $2 million median price. 

In Brooklyn, Greenpoint (253 percent) and Greenwood Heights (180 percent) logged the largest gains in the number of sales. 

Sales drop for pricey Brooklyn areas

Gowanus recorded the most significant price drop with the neighborhood’s median falling $1 million compared to the previous year.

Boerum Hill (-68 percent) and Carroll Gardens (-63 percent) had significant sales slowdowns however both neighborhoods also saw median sales price increases as a result of more deals above $1 million.

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