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Old Posted Aug 16, 2020, 6:16 PM
iheartthed iheartthed is online now
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Brooklyn overtakes Manhattan for most neighborhoods in the top 50 priciest

This is probably a result of the pandemic, but Brooklyn appears to be faring better than Manhattan this year:

Manhattan's sales activity was cut in half this spring (during the Second Quarter), according to the study, and its median sales price dropped 22 percent year-over-year, from $1.27 million to $990,000. In fact, the borough's No. 1 most expensive neighborhood, Hudson Yards, didn't even muster enough sales to be included in the study, PropertyShark says.


TriBeCa took the No. 1 spot for the most expensive neighborhood—a title it's had many times before—from Hudson Yards, according to the report.

And for the first time ever, Brooklyn overtook Manhattan for the most neighborhoods in the top 50 priciest, with DUMBO at No. 4 (it had a $2 million median sales price.) With views like that, it's not hard to see why. And Gowanus led with sales activities (up 230 percent year-over-year) because of new condo developments, the study shows. Because of this, sales activity in Brooklyn "only" dropped 32 percent year-over-year. There wasn't a big shift in median sale price—it slid by two percent to $702,000.

The Bronx and Queens both registered median sale price increases of just over 12 percent at $325,000 and $644,000, respectively.

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