Tribeca remains city’s most expensive neighborhood: PropertyShark

Despite dozens of transactions at two luxury buildings, the stylish nabe kept the top spot with SoHo nipping at its heels at No. 2.
Even with prices declining 30 percent year-over-year, Tribeca kept its top on the real estate’s list from the first quarter of 2018 thanks to a median sales price of more than $3.5 million.
Even with prices declining 30 percent year-over-year, Tribeca kept its top on the real estate’s list from the first quarter of 2018 thanks to a median sales price of more than $3.5 million. (iStock)

Tribeca is one of New York City’s hottest neighborhoods — and it continues to be its most expensive when it comes to median home sales, according to new data from PropertyShark.

 

Even with prices declining 30 percent year-over-year, Tribeca stayed at the top of the real estate’s list in the first quarter of 2018 thanks to a median sales price of more than $3.5 million. SoHo ranked second with $3.2 million as its median sales price, though that neighborhood saw a small 5 percent drop year-over-year.

 

Tribeca was able to keep its No. 1 spot due to pricy sales that inflated prices, including 37 transactions at 30 Park Place and 21 at 56 Leonard St., both of which had median prices of $5.6 million and $7.2 million, respectively. 

 

The rest of the Top 10 mostly consists of Manhattan neighborhoods, from the East and West Village to the Garment District, save for Brooklyn’s Dumbo, which takes the fifth spot with the neighborhood’s median sales price of $1.97 million.

 

The West Village, which ranked third, saw a huge, 88 percent increase in median sales prices thanks to 10 transactions at 643-651 Greenwich St., which averaged $3.8 million.

But it was Brooklyn’s Fort Green that “stole the show with an outstanding performance,” PropertyShark noted, as prices leapt 131 percent to just fall just shy of $1.3 million. The neighborhood’s most expensive transaction was actually above that median, with $3.2 million at 59 S. Elliot.

With a media price of $995,000, Belle Harbor was the first Queens neighborhood to surface on PropertyShark’s list at No. 27. The area saw a 29 percent year-over-year increase.

PropertyShark made its calculations on residential property sales that were closed between Jan. 1 and March 31, including single-family homes, condos and co-ops.
 

 
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