These Were the Most Expensive Neighborhoods in NYC in 2017

What to Know

Manhattan has the most expensive neighborhoods in the city, but Brooklyn now has nearly half of them; Queens has eight in the top 50
The top five most expensive neighborhoods are in Manhattan: Tribeca, SoHo, Hudson Square, Flatiron District, and Little Italy
PropertyShark came up with the top 50 list using residential property sales closed between Jan. 1 and Dec. 6

Manhattan continues to dominate when it comes to expensive home sales in New York City, but Brooklyn is quickly catching up, with nearly half of the city's priciest neighborhoods now in the borough, according to an annual report by PropertyShark.

Manhattan Is Uber-Expensive

Tribeca crushed all the competition this year and remains the most expensive neighborhood out of hundreds of them in the city, PropertyShark reported. SoHo, the city’s second most pricey neighborhood, had a median sale price of $2,997,500, compared to Tribeca’s median sale price of $4,683,950, which was up from $4,173,227 last year.

Hudson Square, in Lower Manhattan, was the third most expensive neighborhood, jumping ahead of Little Italy and Dumbo since last year. The median price in Hudson Square was $2,305,245 this year – just $5,245 higher than the Financial District, which was number four on PropertyShark’s list.

It comes as no surprise that Manhattan remains the most expensive borough. Some of the most luxurious condo buildings are being erected there and it continues to be a magnet for the ultra-wealthy.

Manhattan sports seven of the top 10, and 24 of the top 50, priciest neighborhoods. The Upper East Side and Upper West Side had the most sale activity, respectively, with the former seeing 2,537 transactions this year, according to PropertyShark.

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Brooklyn Is Rising Fast

Brooklyn had nearly half of the most expensive neighborhoods this year; at 22, it had only two less than Manhattan. Three of the top 10 pricey neighborhoods were in Brooklyn: Dumbo at number six, Boerum Hill at eight, and Red Hook at nine.

Dumbo’s median sale price of $1,980,496 put it on top, but Boerum Hill wasn’t far behind at $1,629,200. Boerum Hill had the fourth largest year-over-year increase in the city, with sales up 52 percent from last year thanks to new luxury condominiums like The Boerum, PropertyShark said.

Like Boerum Hill, Fort Greene saw a boost from these new luxury condos. In fact, Fort Greene had the highest median price growth, with its median sale price nearly doubling since last year. Because of the jump, Fort Greene went from the 88th most expensive neighborhood in the city to the 27th in just one year, PropertyShark said. It’s now tied with long-trendy Chelsea in Manhattan.

While Queens "Shows Promise"

Queens is an “increasingly expensive borough” that saw eight neighborhoods rank in the city’s 50 most expensive. Malba, a small neighborhood in eastern Queens, was the most expensive in the borough and the 25th most expensive in the city. Malba and Hunters Point were the two neighborhoods in Queens to pass the $1 million mark in 2017. Queensboro Hill and Neponsit are also in the top 50.

None of the city's most expensive neighborhoods are in the Bronx or Staten Island.

Here’s a list of the top 50 most expensive neighborhoods in the city, according to PropertyShark:

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No.	Borough	Neighborhood	Median Sale Price	2017 vs 2016	Transactions
1	Manhattan	TriBeCa	$4,683,950	12%	417
2	Manhattan	SoHo	$2,997,500	-13%	150
3	Manhattan	Hudson Square	$2,305,245	0%	85
4	Manhattan	Flatiron District	$2,300,000	19%	460
5	Manhattan	Little Italy	$2,283,031	-6%	26
6	Brooklyn	DUMBO	$1,980,496	0%	143
7	Manhattan	Garment District	$1,657,500	-4%	26
8	Brooklyn	Boerum Hill	$1,629,200	52%	249
9	Brooklyn	Red Hook	$1,625,000	34%	21
10	Manhattan	Central Midtown	$1,580,000	22%	310
11	Manhattan	Financial District	$1,501,500	53%	566
12	Manhattan	Central Park South	$1,450,000	05%	70
13	Brooklyn	Gowanus	$1,355,000	4%	56
14	Manhattan	Greenwich Village	$1,350,000	-24%	436
15	Brooklyn	Manhattan Beach	$1,300,000	40%	33
16	Manhattan	West Village	$1,260,000	-1%	253
17	Brooklyn	Brooklyn Heights	$1,240,000	19%	248
18	Manhattan	Theatre District - Times Square	$1,235,000	-25%	87
19	Manhattan	Upper West Side	$1,226,500	16%	2097
20	Manhattan	Upper East Side	$1,153,373	2%	2537
21	Brooklyn	Park Slope	$1,120,038	15%	498
22	Manhattan	Clinton - Hell's Kitchen	$1,120,000	12%	523
23	Brooklyn	Vinegar Hill	$1,107,500	70%	8
24	Manhattan	Battery Park City	$1,095,000	-11%	165
24	Brooklyn	Columbia Street Waterfront District	$1,095,000	30%	32
25	Queens	Malba	$1,083,750	11%	14
26	Brooklyn	Carroll Gardens	$1,079,345	-12%	65
27	Manhattan	Chelsea	$1,075,000	-1%	567
	Brooklyn	Fort Greene	$1,075,000	95%	97
28	Queens	Hunters Point	$1,061,382	13%	178
29	Brooklyn	Cobble Hill	$1,025,000	3%	71
30	Brooklyn	Prospect Park South	$995,000	48%	25
31	Manhattan	Gramercy Park	$980,833	3%	306
32	Brooklyn	Greenwood Heights	$979,500	18%	62
33	Manhattan	East Village	$975,000	3%	249
34	Manhattan	Sutton Place	$930,000	-4%	268
35	Brooklyn	Fiske Terrace	$929,000	11%	13
36	Brooklyn	Williamsburg	$916,425	5%	597
37	Queens	Queensboro Hill	$900,000	15%	36
	Queens	Neponsit	$900,000	6%	15
38	Brooklyn	Mill Basin	$893,750	-3%	46
39	Manhattan	Turtle Bay	$893,700	-10%	396
40	Brooklyn	Prospect Heights	$892,000	8%	375
41	Brooklyn	Greenpoint	$890,969	-3%	141
42	Brooklyn	Dyker Heights	$890,000	13%	73
43	Queens	Ditmars - Steinway	$865,000	11%	25
44	Manhattan	Civic Center	$841,944	20%	16
45	Queens	Belle Harbor	$840,260	12%	34
46	Manhattan	Lower East Side	$832,500	3%	176
47	Manhattan	Roosevelt Island	$825,000	-4%	45
48	Brooklyn	Downtown Brooklyn	$820,000	-1%	153
49	Queens	East Flushing	$810,000	13%	99
	Queens	Fresh Meadows	$810,000	7%	155
50	Brooklyn	Bedford-Stuyvesant	$799,000	11%	255