50 Most Expensive Neighborhoods in NYC

By PropertyClub Team
Oct 27th 2023
The most expensive neighborhoods in NYC in 2023 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. 

Although the 15 most expensive NYC neighborhoods are all in Manhattan, many Brooklyn neighborhoods made our top-50 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-mark10 Most Expensive Neighborhoods in NYC

  1. Noho
  2. Hudson Yards
  3. Tribeca
  4. Central Park South
  5. Nolita
  6. Theatre District
  7. Bowery
  8. Soho
  9. Civic Center
  10. Hudson Square / West Soho

hash-markNoho

With a median sales price of $3.27 million, Noho is the most expensive neighborhood in NYC. Noho's prime location in the heart of Downtown has made it a popular destination with buyers. High demand combined with low inventory in the neighborhood, have helped make drive prices to new highs in the neighborhood. 

Most apartments for sale in Noho feature lots of character, with high ceilings that are often beamed, and exposed brick. Some of the nicest condos and co-ops in the neighborhood are 21 Astor Place, 40 Bond, 50 Bond, the Silk Building at 14 East 4th Street, and the recently constructed 40 Bleecker Street.

hash-markHudson Yards

The second most expensive neighborhood in New York City is Hudson Yards. With a median sales price just over $3.2 million, and numerous soaring luxury condominiums, this new and glamorous neighborhood is booming. If you're looking for a modern and edgy place to live in NYC and have the bankroll to afford it, buildings like 15 and 30 Hudson feature some of the most lavish residences anywhere in the world. Not to mention the million-dollar views. 

Hudson Yards has transformed Midtown Manhattan's west side so dramatically that if you’re walking through the neighborhood, you may find yourself feeling as though you’re in prime Chelsea. All in all that makes buying an apartment in the area an excellent investment for anyone looking to purchase a home in one of NYC’s hottest neighborhoods. 

hash-markTribeca

Tribeca is also one of the most expensive neighborhoods in NYC. Tribeca has long been known as one of the richest neighborhoods in NYC, and for being popular amongst celebrities and techies. In fact, the neighborhood had the highest real estate prices in 2018 as well as in 2019, with homes selling for an average price of over 4 million dollars. However, median home prices were only $3.15 million in Tribeca last year, making it NYC's third most expensive neighborhood. 

Tribeca lofts remain desirable, but the newest trend is uber-luxury condos, which include new high-rise towers such as 56 Leonard, which has been dubbed the Jenga Building by many. Other important condo buildings include 110 Murray Street and 30 Park Place as well as conversions like the Woolworth Tower Residences at 2 Park Place. Condos for sale in these buildings are expected to shatter price records for lower Manhattan.

hash-markCentral Park South

Central Park South is home to billionaires row, so there's no surprise it ranks amongst New York City's wealthiest areas. Some of the most expensive and well-known buildings in the city are located here, including One57, 432 Park Avenue, and 111 West 57th. Penthouses with sweeping views of Central Park and the NYC skyline command the highest prices in Central Park South, often in the tens of millions of dollars. 

There are also some more affordable coops and condos in the neighborhood but don't expect the views, white-glove service, or lavish amenities of the towers you'll find on billionaires row. 

hash-markNolita

Nolita rounds out the top five most expensive neighborhoods in NYC, with a median sale price of just above $3 million. Although Nolita is short for North of Little Italy, in recent years, the area has been greatly influenced more by its western neighbor, Soho, and northern neighbor, Noho, helping create a diverse cultural and entertainment scene. Trendy new boutiques, chic art galleries, and hip bars have popped up on Nolita’s picturesque, tree-lined streets. This wonderful atmosphere has helped drive up real estate prices in Nolita. 

hash-markTheatre District

Another one of the most expensive places to live in NYC is the Theatre District. Located in the heart of Midtown, this neighborhood has had a median sales price of $2,970,000 over the past year. 

Although there is plenty of real estate for sale in the Theatre District, prices have been driven up in large part thanks to a boom in new development. Many luxury condos have been built in the neighborhood in the past decade, attracting buyers who want to live in the heart of the city. 

hash-markBowery

The Bowery is a neighborhood that has flourished in recent years. Although it's historically been considered one of Manhattan's cheaper areas, an influx of new development has led to skyrocketing real estate prices. The median home in Bowery is $2,350,000, making it the seventh most expensive place to live in NYC. 

The neighborhood's real estate market is small yet vibrant. There's not much inventory, but you can find a bit of everything in the Bowery, from historical pre-war buildings to luxurious condominiums. 

hash-markSoho

Soho is an upscale neighborhood in Lower Manhattan that is one of the richest parts of New York City. The Soho real estate market has long been one of the most expensive in New York City with its trendy lofts and luxurious condos demanding extremely high prices thanks to their desirability. The neighborhood is one of the poshest in the city, known for its historic cast-iron architecture as well as its world-class shopping, dining, arts, and cultural scenes.

For buyers who prefer a more classic New York vibe, Soho lofts remain in high demand, fetching extremely high prices.

hash-markCivic Center

Civic Center is a small NYC neighborhood with sky-high real estate prices. Civic Center is located around the Mayor's Office and other municipal and court buildings, so you might expect it to be home to some of the most expensive real estate in the city. However, the area borders Tribeca, and is just a short walk from Soho, so it offers unparalleled access to some of the best areas in NYC. 

There has also been a lot of new residential development in Civic Center, with numerous luxury condos being constructed in recent years. Civic Center is a great place to live if you want to be near Tribeca and Soho for a somewhat lower cost. 

hash-markHudson Square / West Soho

As Soho has become more expensive, the area to the West of it has also developed. Recent years have seen an influx of new development, particularly luxury condos in West Soho (also known as Hudson Square), an area that is popular due to its location near the Hudson River waterfront and its quieter streets compared to more central parts of the neighborhood.

Most real estate in West Soho is in buildings that typically feature top-of-the-line finishes and a bevy of amenities and facilities to help you relax and pamper yourself in the comfort of your home. 19 Brooklyn Neighborhoods Amongst NYC's Most Expensive 

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 Most Expensive Neighborhoods 2023 Highlights

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

  • Noho is the most expensive neighborhood in NYC, with a median sales price of $3,270,000. 
  • 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-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-markThe 50 Most Expensive Neighborhoods in NYC 

Ranking

Neighborhood

Borough

Median Sales Price

Transactions

1

Noho

Manhattan

$3,270,000.00

59

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 usual 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-markMost Expensive Neighborhoods in NYC Ranking Methodology

To determine the most expensive neighborhoods in NYC 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.