A new report takes a look at which New York City neighborhoods were the most expensive to live in during 2021.
PropertyShark recently released its annual report on the top 50 most expensive New York City neighborhoods, which analyzed all residential property sales closed in Manhattan, Brooklyn and Queens between Jan. 1 and Dec. 8, 2021. According to their findings, the city’s sales activity reached their highest figures in the past 10 years, up 79% over 2020 levels. The report notes that the city is on track to reach 40,000 deals by the end of December.
The median sale price for the city overall went up to $750,000, a 14% increase year-over-year. Sales heated up throughout the year, with 23 neighborhoods posting triple-digit gains throughout 2020.
According to the report’s findings, nine of the top 10 most expensive neighborhoods in the boroughs analyzed were in Manhattan. Hudson Yards and TriBeCa held on to the top two spots as most expensive neighborhoods for the third year in a row, with a median price of $4,751,000 and $3,495,000, respectively, followed by Soho at number three, with a median price of $2,675,000.
Coming in at number four with a median price of $2,365,000 was Little Italy, followed by Hudson Square at number five with a median price of $2,090,000. Sixth on the list goes to the Flatiron District with a median price of $1,850,000, with seventh going to the only non-Manhattan neighborhood in the top 10: Brooklyn’s Vinegar Hill, which had a median price of $1,543,000.
Three more Manhattan neighborhoods rounded out the top 10 list with the Theatre District – Times Square at number eight (median price of $1,522,000), the West Village at number nine (median price of $1,497,000) and Chelsea at number ten (median price of $1,415,000).
To read the full report, visit propertyshark.com.
