Tribeca still city’s priciest area; Lower Manhattan dominates Top 10

BY GABE HERMAN | In an analysis of the city’s most expensive neighborhoods based on median sale prices of homes, done by real estate Web site Property Shark, Lower Manhattan had an even stronger showing than usual in the second quarter of 2019.

Lower Manhattan continues to have many of the most expensive areas. (Courtesy Property Shark)

Tribeca remains the city’s most expensive neighborhood, with a median sale price of $4.34 million. Little Italy jumped up eight spots from the previous quarter to land at number three, with a median sale price of $2.66 million. Recent sales in Little Italy that helped drive up the neighborhood price included two units sold in the Puck Building, at Lafayette and E. Houston Sts., which each went for $18 million.

Other Lower Manhattan neighborhoods in the top-10 priciest included Soho in fourth place, Hudson Square at six, the Flatiron District at eight, Greenwich Village at nine and Gramercy Park at 10.

The newly opened megadevelopment Hudson Yards, criticized by some for being a playground for the rich, seemed to confirm that reputation as it entered the list at the city’s second-most pricey area for apartment sales. Median sale prices in the new West Side neighborhood were $3.86 million.

Manhattan had all but one of the neighborhoods in the top 10, with Brooklyn’s Cobble Hill the lone exception. All neighborhoods in the top 10 saw price increases in the year-over-year data, except for Soho, which had a slight dip of 10 percent, but still had a median sale price of $2.62 million to come in fourth over all.