October 23, 2019
Manhattan has a new front-runner when it comes to pricing on for-sale housing, says PropertyShark. It’s Hudson Yards, where the median sale price reached $4,994,792 in the third quarter.
Even if Tribeca pricing hadn’t declined 30% year over year, Hudson Yards would still be far and away the city’s priciest neighborhood. As it is, the median price for a Hudson Yards condominium is more than twice that of Tribeca.
Just two neighborhoods outside Manhattan make the top 10 for pricing: seventh-place Cobble Hill in Brooklyn, where the $1.8-million median rose 102% Y-O-Y, and 10th-place Carroll Gardens, also in Brooklyn.
Rounding out the top 10 are Hudson Square, Little Italy, Soho, the Garment District, the Lower East Side and the Flatiron District. All but one of these neighborhoods are downtown.
PropertyShark’s Thomas McGregor reported that Manhattan, Queens and the Bronx all saw Y-O-Y declines in transactions. Brooklyn volume was flat Y-O-Y.
It’s not too late to register for Connect National Investment & Finance, taking place on Wednesday, Oct. 23 at the Harvard Club in New York. For more information, or to register, click here.
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