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Skip to content Sections SEARCH Real Estate SUBSCRIBE FOR $1/WEEKLog in Friday, May 5, 2023 Today’s Paper SUBSCRIBE FOR $1/WEEK Real Estate|New York City’s Most Expensive Neighborhoods https://www.nytimes.com/2023/05/04/realestate/most-expensive-neighborhoods-nyc.html * Give this article * * * + Advertisement Continue reading the main story Supported by Continue reading the main story Calculator NEW YORK CITY’S MOST EXPENSIVE NEIGHBORHOODS The city’s real estate market continues to cool, the luxury sector included. * Send any friend a story As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share. Give this article * * * + * Read in app By Michael Kolomatsky May 4, 2023 New York City’s notoriously volatile real estate market is cooling — the high end included — according to a new report from PropertyShark. The report showed that in the first quarter of 2023, the median sale price fell in 28 of the city’s 50 most-expensive neighborhoods from a year earlier, while the number of sales dropped or was flat in 46 neighborhoods. Only four of the 50 neighborhoods had a median sale price of $2 million or more, compared with eight in the first quarter of 2022. In the most expensive area, Manhattan’s Hudson Yards, the median sale price rose about 6 percent year-over-year, to $5.729 million; but in TriBeCa, the next most expensive, it fell 6 percent, to $3.5 million. Vinegar Hill, Brooklyn — a former industrial area now sprouting riverfront high-rises — was the third-most expensive neighborhood. But its $2.6 million median sale price was level from a year earlier, so it was price reductions in other neighborhoods that improved its ranking. DO YOU SPEAK REAL ESTATE? TAKE OUR HOME BUYER’S QUIZ. Ready to purchase a home? Test your knowledge of real estate vocabulary. In the first Bronx neighborhood to appear among the top 50, Fieldston, the median sale price soared 149 percent year-over-year, to $840,000. The change reflected the fact that in 2023, 54 percent of sales there were of single-family homes (generally more expensive), up from just 7 percent a year earlier. Eight Queens neighborhoods were among the 50 most expensive, while Brooklyn claimed 22 spots and Manhattan 24. (Staten Island was not included in the study because up-to-date data was unavailable, according to PropertyShark.) Advertisement Continue reading the main story The rest of us may be wondering if there are bargains to be found outside of these 50 pricey areas. It’s relative: The city’s overall median sale price dropped $75,000 year-over-year to $695,000, but that’s still well over the national median of $400,698. COSTLY N.Y.C. NEIGHBORHOODS Here are the most expensive New York City neighborhoods in the first quarter of this year, and how prices changed year over year. Q1-2023 Median Sale Price Y-O-Y Change Neighborhood Manhattan Manhattan Brooklyn Manhattan Manhattan Manhattan Manhattan Brooklyn Brooklyn Manhattan Manhattan Manhattan Manhattan Brooklyn Manhattan Brooklyn Manhattan Brooklyn Manhattan Brooklyn 6 –6 0 –35 –7 –19 54 11 11 41 32 47 –8 0 –2 18 11 0 –13 –10 % $5,729,000 $3,500,000 $2,600,000 $2,200,000 $1,950,000 $1,938,000 $1,900,000 $1,795,000 $1,710,000 $1,550,000 $1,510,000 $1,501,000 $1,440,000 $1,400,000 $1,388,000 $1,300,000 $1,275,000 $1,256,000 $1,250,000 $1,227,000 Hudson Yards TriBeCa Vinegar Hill SoHo Flatiron District Hudson Square Theater District DUMBO Carroll Gardens Central Midtown Battery Park City Gramercy Park West Village Manhattan Beach Greenwich Village Williamsburg Upper East Side Downtown Brooklyn Lower East Side Boerum Hill Y-O-Y Change Borough Neighborhood Median Sale Price Manhattan Manhattan Brooklyn Manhattan Manhattan Manhattan Manhattan Brooklyn Brooklyn Manhattan Manhattan Manhattan Manhattan Brooklyn Manhattan Brooklyn Manhattan Brooklyn Manhattan Brooklyn Hudson Yards TriBeCa Vinegar Hill SoHo Flatiron District Hudson Square Theater District DUMBO Carroll Gardens Central Midtown Battery Park City Gramercy Park West Village Manhattan Beach Greenwich Village Williamsburg Upper East Side Downtown Brooklyn Lower East Side Boerum Hill $5,729,000 $3,500,000 $2,600,000 $2,200,000 $1,950,000 $1,938,000 $1,900,000 $1,795,000 $1,710,000 $1,550,000 $1,510,000 $1,501,000 $1,440,000 $1,400,000 $1,388,000 $1,300,000 $1,275,000 $1,256,000 $1,250,000 $1,227,000 6 –6 0 –35 –7 –19 54 11 11 41 32 47 –8 0 –2 18 11 0 –13 –10 % Source: Property Shark By The New York Times For weekly email updates on residential real estate news, sign up here. Advertisement Continue reading the main story COMMENTS New York City’s Most Expensive NeighborhoodsSkip to Comments Share your thoughts. The Times needs your voice. We welcome your on-topic commentary, criticism and expertise. Comments are moderated for civility. SITE INDEX SITE INFORMATION NAVIGATION * © 2023 The New York Times Company * NYTCo * Contact Us * Accessibility * Work with us * Advertise * T Brand Studio * Your Ad Choices * Privacy Policy * Terms of Service * Terms of Sale * Site Map * Canada * International * Help * Subscriptions Enjoy unlimited access to all of The Times. See subscription options