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Prices Rise Most in Most Expensive Neighborhoods
High prices got higher in the second quarter in New York City’s most expensive residential neighborhoods.
Median sale prices trended upwards in most of the city’s 50 priciest places. Only 11 areas saw prices slide in Q2, a significant change from Q1, when 20 neighborhoods saw median sale prices trend downwards, according to PropertyShark.
New developments are transforming markets, particularly in Lower Manhattan and Southern Brooklyn.
– The most expensive neighborhood: TriBeCa’s median sale price grew to $5,175,000, up 24% compared to the year before.
– Biggest price hike: Fort Greene, Brooklyn’s median sale price grew to $1,135,000, up 151% from the year before.
– Notable increase: The Financial District’s median sale price grew to $1,900,000, up 88% from the year before.
– Another big jump: Boerum Hill median sale price grew to $1,975,000, up 51% from the year before.
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