The Most Expensive Neighborhoods in NYC

By PropertyClub Team
Jan 5th 2022
The most expensive neighborhoods in NYC for 2022 are Noho, Hudson Yards, Tribeca, Central Park South, and Nolita, and the median sales price in all of these areas is above $3 million dollars.

As you probably expect, most rich New Yorkers live in Manhattan.

Overall, over half of the 50 richest NYC neighborhoods are in Manhattan, including the top 15, while Brooklyn is home to 19 of the city's priciest nabes, and Queens and Staten Island are home to 5 and 1, respectively.

hash-markNYC Most Expensive Neighborhoods 2022 Highlights

Below, you'll find our list of the most expensive neighborhoods in NYC, based on property sales from January 1, 2021, to January 1, 2022. Key Findings include the following:

  • Noho is the most expensive neighborhood in NYC, with a median sales price of $3,250,000. 
  • Over half of NYC's priciest neighborhoods are in Manhattan, including the 15 most expensive.
  • 19 Brooklyn neighborhoods made our list, the most expensive of which was Cobble Hill, with a median sales price of $1,640,000. 
  • 5 Queens neighborhoods are amongst the most expensive in NYC.
  • Todt Hill is the only Staten Island neighborhood to make the list, coming in tied for 36th priciest, with a median sales price of $1,150,000.
  • The median sales price in NYC is $700,000, with Manhattan being the most expensive borough at $1,160,000 and Bronx being the most affordable at $519,000.

hash-markThe 50 Most Expensive Neighborhoods in NYC 

Ranking

Neighborhood

Borough

Median Sales Price

Transactions

1

Noho

Manhattan

$3,250,000.00

57

2

Hudson Yards

Manhattan

$3,201,875.00

56

3

Tribeca

Manhattan

$3,150,000.00

320

4

Central Park South

Manhattan

$3,050,218.50

68

5

Nolita

Manhattan

$3,002,146.00

41

6

Theatre District

Manhattan

$2,970,000.00

143

7

Bowery

Manhattan

$2,350,000.00

39

8

Soho

Manhattan

$2,330,000.00

172

9

Civic Center

Manhattan

$2,270,000.00

81

10

Hudson Square/West Soho

Manhattan

$2,050,000.00

91

The 10 most expensive NYC neighborhoods are all located in Manhattan, including Noho, the most expensive place to live in NYC. Prices in Noho were higher than usually thanks to a flurry of luxury new development sales at condos like 40 Bleecker Street.

Ranking

Neighborhood

Borough

Median Sales Price

Transactions

11

Lincoln Square

Manhattan

$1,975,000.00

729

12

Nomad

Manhattan

$1,900,000.00

63

13

Lenox Hill

Manhattan

$1,875,000.00

429

14

Carnegie Hill

Manahttan

$1,850,000.00

201

15

Flatiron

Manhattan

$1,650,000.00

119

16

Cobble Hill

Brooklyn

$1,640,000.00

82

17

Carroll Gardens

Brooklyn

$1,615,000.00

113

18

Upper West Side

Manhattan

$1,575,000.00

1699

19

Boerum Hill

Brooklyn

$1,542,260.00

91

20

Fort Greene

Brooklyn

$1,437,500.00

94

The most expensive neighborhood outside Manhattan is Brooklyn's Cobble Hill, which comes in at number 16.

Ranking

Neighborhood

Borough

Median Sales Price

Transactions

21

Chelsea

Manhattan

$1,412,500.00

354

22

West Village

Manhattan

$1,410,000.00

350

23

South Slope

Brooklyn

$1,400,000.00

169

24

Dumbo

Brooklyn

$1,395,000.00

80

25

West Chelsea

Manhattan

$1,350,000.00

117

26

Park Slope

Brooklyn

$1,290,000.00

547

27

Red hook

Brooklyn

$1,287,449.00

53

28

Columbia Waterfront District

Brooklyn

$1,225,000.00

35

29

Manhattan Beach

Brooklyn

$1,211,000.00

45

30

Prospect Heights

Brooklyn

$1,204,000.00

212

While it's only the 26th most expensive neighborhood in NYC and the 7th most expensive neighborhood in Brooklyn, Park Slope had over $750 million in sales volume, more than all other Brooklyn nabes.  

Ranking

Neighborhood

Borough

Median Sales Price

Transactions

31

Midtown South

Manhattan

$1,200,000.00

43

32

Greenpoint

Brooklyn

$1,199,000.00

181

33

Upper East Side

Manhattan

$1,195,000.00

1755

33

Brooklyn Heights

Brooklyn

$1,195,000.00

213

35

Roosevelt Island

Manhattan

$1,167,500.00

20

36

Todt Hill

Staten Island

$1,150,000.00

33

36

Ditmars Steinway

Queens

$1,150,000.00

48

38

Financial District

Manhattan

$1,149,000.00

225

39

Williamsburg

Brooklyn

$1,135,000.00

577

40

Greenwich Village

Manhattan

$1,110,000.00

351

Tied for 36th with a median sales price of $1,150,000 are the most expensive neighborhoods in two boroughs. The most expensive neighborhood in Queens is Ditmars Steinway, while the most expensive neighborhood in Staten Island is Todt Hill. 

Ranking

Neighborhood

Borough

Median Sales Price

Transactions

41

Lower East Side

Manhattan

$1,080,000.00

209

42

Malba

Queens

$1,070,000.00

14

43

Hunters Point

Queens

$1,025,000.00

189

44

Ridgewood

Queens

$999,999.00

131

45

East Williamsburg

Brooklyn

$999,500.00

86

46

East Village

Manhattan

$999,000.00

167

46

Borough Park

Brooklyn

$999,000.00

246

48

Union Square

Manhattan

$995,000.00

70

49

Gowanus

Brooklyn

$992,793.00

107

50

Neponsit

Queens

$990,000.00

14

50

Bensonhurst

Brooklyn

$990,000.00

203

50

Mapleton

Brooklyn

$990,000.00

83

hash-markNoho is the Most Expensive Neighborhood in NYC

With a median sales price of $3.25 million, Noho in lower Manhattan is the most expensive neighborhood in NYC. It was closely followed by Hudson Yards and Tribeca, which have consistently been amongst the richest neighborhoods in NYC. The median sale price in Hudson Yards was just over $3.2 million, while in Tribeca it was $3.15 million.

Rounding out the 5 most expensive NYC neighborhoods were Central Park South, which is home to billionaires row, and the Theatre District, both of which had median sale prices above $3 million.  

hash-mark19 Brooklyn Neighborhoods Amongst NYC's Most Expensive 

While 2020 was a tough year for Manhattan real estate, many New Yorkers flocked to Brooklyn, where the market remained hot. 19 Brooklyn neighborhoods made our list, including Cobble Hill, the most expensive nabe in the borough, where prices averaged $1,640,000. Prices were also above $1.5 million in Carroll Gardens and Boerum Hill. 

Borough-wide, the median sales price in Brooklyn was $900,000.  

hash-markThe Most Expensive Neighborhoods in Queens are Ditmars Steinway, Malba, and Hunters Point

Queens' most expensive neighborhood was Ditmars Steinway, where the median price was $1,150,000. It was followed by Malba, a residential hamlet on the North Shore, where prices averaged $1,070,000. Rounding out the top 3 was Long Island City's Hunters Point neighborhood, which with a median selling price of $1,025,000 was the 43rd most expensive neighborhood in NYC. 

hash-markTodt Hill is the Most Expensive Neighborhood in Staten Island

Staten Island's richest neighborhood was Todt Hill, where the median price was $1,150,000. Todt Hill was the only Staten Island nabe to make our list, coming in tied for the 36th most expensive NYC neighborhood. Emerson Hill narrowly missed out on making the list as it was the 56th priciest neighborhood in the city with a median sales price of $965,000. 

hash-markNYC Real Estate Median Sales Prices

The median sales price in New York City is $700,000. Manhattan has the most expensive real estate in the city and most of the richest areas, followed by Brooklyn. The Bronx is the most affordable borough in NYC. 

Borough Median Sales Price
Manhattan $1,160,000
Brooklyn $900,000
Queens $605,000
Staten Island $550,000
Bronx $519,000

hash-markMethodology 

We looked at all recorded closed sales for residential property in NYC. Only neighborhoods with at least 10 sales were included on the list. A notable omission due to a lack of transactions is Little Italy.