Below, you'll find our list of the most expensive neighborhoods in NYC, based on property sales through 2020. 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.
With a median sales price of $3.25 million, Noho in lower Manhattan is the most expensive neighborhood in NYC. Prices in Noho were higher than usually thanks to a flurry of luxury new development sales at condos like 40 Bleecker Street.
It was closely followed by Hudson Yards and Tribeca, which have consistently been amongst the most expensive nabes in the city. 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.
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.
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.
Staten Island's most expensive 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.
The median sales price in New York City is $700,000. Manhattan has the most expensive real estate in the city, followed by Brooklyn. The Bronx is the most affordable borough in NYC.
|Borough||Median Sales Price|
Methodology: We looked at all recorded closed sales for residential property in NYC for 2020. Only neighborhoods with at least 10 sales were included on the list. A notable omission due to a lack of transactions is Little Italy.