This Is Now Brooklyn's Most Expensive Neighborhood: Study

COBBLE HILL, BROOKLYN — Cobble Hill's may have finally dethroned Dumbo as the most expensive place to live in the borough, and one luxury apartment building might be the reason why.

The neighborhood's home sale prices more than doubled since last year, landing it a spot as the most expensive neighborhood in Brooklyn so far in 2019 and as the only outer borough spot to make it in the citywide top 10, the latest Property Shark report found.

More than half of the 29 home sales through June that skyrocketed the neighborhood on the list are from one development, The Cobble Hill House on Amity Street.

The report, which analyzes the median home sales across the city each quarter, found that 17 of the 29 home sales in the neighborhood so far this year were for a spot at the 78 Amity St. complex.

"Those sales alone had a median home sale price of over $2.3 million, pushing the neighborhood to the 7th position on our list," the researchers wrote.

Cobble Hill's 171 percent growth and some changes at the top of the list in Manhattan meant that it was the only Brooklyn neighborhood to make the top 10, unlike just a few months ago when three of the borough's neighborhoods were on the list.

In the first quarter of 2019, the top Brooklyn spot went to nearby Columbia Street Waterfront District with Dumbo at number nine and Carroll Gardens landing at 10.

But the most recent report shows that Dumbo continues to slide down the list.

Dumbo had the largest decline across the city, falling 40 percent in its median price since last year. Researchers said this was likely because it saw just 12 home sales and because there were no sales in the neighborhood's famous Clock Tower building.

This time around, Columbia Street Waterfront District landed at 23, Dumbo at 12 and Carroll Gardens at 13.

As for the rest of the list, Hudson Yards became the city's second most expensive neighborhood in just the three months it has been open to the public.

Manhattan's mega-development saw 56 home sales from April through June with a staggering median price of more than $3.8 million.

That rate was high enough to land the $25 billion neighborhood at No. 2 on the real estate website's ranking of the city's priciest neighborhoods — but not enough to dethrone Tribeca, which once again took the top spot.

See how your neighborhood fared on the list below. Read PropertyShark's full report here.