Manhattan Continue To Lead NYC In Most Expensive Neighborhoods With Brooklyn Making Strides

PropertyShark has published their quarterly report on the most expensive neighborhoods in New York City.  The list shows the top 50 neighborhoods according the median sales price for the first quarter of 2018.   The report shows that Manhattan continues to lead the city with the most expensive neighborhoods with Brooklyn picking up steam.  Manhattan had 9 of the top 10 neighborhoods with Tribeca leading the way . The median sale prices were calculated based on residential property sales closed between January 1, 2018 and March 31, 2018. The residential properties which comprised the report were single-family homes, condos and co-ops.

In Manhattan, Tribeca led the way with a median sales price of $3,575,000 (#1 overall).  This was despite having a 30% decrease in transactions year over year.  The biggest increases were in the West Village (#3 overall) with a median sales price of $2,312,500 and an 88% increase year over year and the East Village (#9 overall) with a median sales price of $1,535,012.    The Upper East side (#15 overall) led the way in the total amount of transactions with 495 during the quarter.

Brooklyn continues to show increased value to properties as several neighborhoods have made moves on the list.  Particularly Greenpoint and Fort Greene showed tremendous increases on the list.  Fort Greene (#14 overall) led the way with a 131% year over year increase and a median price of $1,280,000.  Fort Greene (#12 overall) showed tremendous a tremendous upside as well showing an 81% increase and a median price of $1,352,182.

Queens did not have any neighborhoods hitting the 1 million dollar mark however Belle Harbor (#27 overall) came close at $995,000.  The other leading neighborhoods as to ranking and median sales price in Queens were to the south of Belle Harbor.  Queensboro Hill (#34 overall, $883,500) and Auburndale ($35 overall, $883,000) remained steady in these categories.

Blue Harbour Property Management is a full service NYC property management company servicing the boroughs of Queens, Brooklyn, Manhattan and the Bronx.  Whether it be a 1 bedroom condo or multi-family building we are able to assist our clients maximize their investments.

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