This is the most expensive neighborhood in NYC
New York City’s most expensive neighborhood just got even pricier.
That’s according to a new study from real-estate data portal PropertyShark, which has crowned Hudson Yards on Manhattan’s far west side for the top spot with a median home sale price of $7.5 million. For nearly five years, this district — known for its shops, towering buildings and Vessel sculpture — has kept this privileged position in PropertyShark’s ranking.
What’s more, the current median of $7.5 million marks quite a rise from the $5.75 million median home sale price tallied in Hudson Yards last year. Still, PropertyShark adds, the number of deals for homes in the area fell year-over-year by 62%, marking one of the most significant annual sales drops among the city’s most expensive areas.
PropertyShark analyzed closed property sales recorded in the city Department of Finance’s ACRIS system between April 1 and June 30, 2023 — and April 1 and June 30, 2024 — to calculate median sale prices. In the mix were deals for condos, co-ops and single-family homes, such as townhouses.
Hudson Yards’ staggering median sale price is more than double that of New York’s second priciest neighborhood — long-prime Soho — which is $3.1 million. According to the New York Times, the median of Hudson Yards represents just five sales during the quarter, while Soho had a total of 37.
Among the sales in Hudson Yards in that time period: a $7.5 million deal for a 3,099-square-foot three-bedroom corner condominium — one with sprawling Hudson River views — at 35 Hudson Yards, according to StreetEasy records. Meanwhile, one of the 37 sales to close in Soho during that period was a $2.25 million deal for a two-bedroom, two-bathroom condo with 10-foot ceilings at 210 Lafayette St., StreetEasy also shows.
Tribeca came in third, with a median of $2.9 million. Hudson Square, a western subset of Soho, was in fourth with a $2.46 million median. Little Italy, in fifth, had a $2.4 million median. Though in the sixth spot, Chinatown returned to the top 10 for the first time in two years due to a 79% year-over-year jump in median home sale prices, which brought its figure today to $2.03 million.
In Brooklyn, and also in the top 10, came Cobble Hill and Carroll Gardens. their respective median sale prices were $1.96 million and $1.95 million.
Both areas, similar to Hudson Yards, also saw slowdowns in annual sales. Cobble Hill had a 48% year-over-year decline, while Carroll Gardens saw a steep 63% yearly fall.
