A new report took a look at which neighborhoods in New York City had the most price drops last month.
According to RealtyHop.com, several New York City neighborhoods saw listings with price drops, but the top five were all in Manhattan. The neighborhood with the highest number of price drops in May was Lincoln Square with 47 total drops.
The neighborhood with the second-highest number of price drops was Turtle Bay-East Midtown with 35 total drops, followed by the Hudson Yards-Chelsea-Flatiron-Union Square area with 32 drops. Tied for fourth and fifth with 31 price drops each last month were the Lenox Hill-Roosevelt Island and the Upper East Side-Carnegie Hill areas.
Outside of Manhattan, Brooklyn’s Bushwick North area had the highest median percentage price drop with a median drop of 20.9%. Following behind in second is the Bronx’s Van Cortlandt Village with a median percentage price drop of 16.7%.
Three Brooklyn areas round out the bottom of the list of highest percentage price drops: Brownsville had a 15% price drop, Ocean Parkway South had a 12.3% price drop and Sunset Park East had an 11.8% drop.
Read the full report at realtyhop.com.
