Hudson Yards once again takes the top spot among New York’s most expensive neighborhoods for buyers

The top 10 most expensive neighborhoods in New York City for buyers are dominated by Manhattan, but in several key neighborhoods in the borough, prices remained flat or fell from a year ago.

According to one new ranking from PropertyShark Of the most expensive neighborhoods for buyers based on closed sales in the third quarter, Tribeca (#2), Soho (#3) and the Flatiron District (#10) had declines in annual average sales prices.

Hudson Yards once again took the top spot as New York’s most expensive neighborhood for buyers with an average sales price of $4.99 million, boosted by sales of 35 Hudson yards And 15 Hudson yards.

However, there were no sales at Hudson Yards in the third quarter of 2024, meaning there is no annual comparison of sales prices or transactions in the report.

Second-place Tribeca saw an average sales price of $3.77 million, representing a 3 percent year-over-year decline. In third place, Soho’s average sales price fell 21 percent annually to $3.36 million, which Laura Pop-Badiu, senior creative writer at PropertyShark and author of the report, attributed to a shift in the mix of property types sold – typically meaning smaller, cheaper properties.

Hudson Square rose to fourth place with an average sales price increase of 34 percent year-over-year at $2.65 million, driven by a 35 percent increase in transactions.

In fifth place was Brooklyn’s Cobble Hill neighborhood, where the average sales price rose 24 percent annually to $2.28 million.

Most deals in the third quarter of this year exceeded the $1.84 million average sales price from a year earlier, but the number of transactions fell 23 percent year over year, Pop-Badiu wrote.

^{Source: Property Shark}