Tribeca is 2016's Most Expensive NYC Neighborhood

TRIBECA, NY — Tribeca was again the number one most expensive NYC neighborhood, with median sale prices reaching over $4 million, according to new home pricing information published this week by Property Shark.

With a 21 percent increase since last year, SoHo came in second, with the median sale price at $3,517,500. Interestingly, neighboring Little Italy, which was ranked number three, was the only neighborhood that made the top 10 but dropped in prices since last year. Though prices dropped by 12 percent, the median sale price of a Little Italy property was still a whopping $2,545,625.

The only two non-Manhattan neighborhoods to crack the top 10 were DUMBO — Brooklyn's small but mightily expensive waterside spot, which came in at number five — and Forest Hills Gardens, sneaking in at number 10. The Queens neighborhood has seen a surge in home prices, with a 37 percent increase since last year.

See below for the full top 10, and check out the full top 50 list here.

No. 1: Tribeca. Median sale price: $4,152,412, up 19 percent since 2015.
No. 2: SoHo. Median sale price: $3,517,500, up 21 percent since 2015.
No. 3: Little Italy. Median sale price: $2,545,625, down 12 percent since 2015.
No. 4: Hudson Square. Median sale price: $2,345,030, up 14 percent since 2015.
No. 5: DUMBO. Median sale price: $2,010,000, up 44 percent since 2015.
No. 6: Flatiron District. Median sale price: $1,942,500 up 10 percent since 2015.
No. 7: Greenwich Village. Median sale price: $1,796,906, up 44 percent since 2015.
No. 8: Garment District. Median sale price: $1,767,500, up 47 percent since 2015.
No. 9: Theater District. Median sale price: $1,545,000, up 3 percent since 2015.
No. 10: Forest Hills Gardens. Median sale price: $1,525,000, up 37 percent since 2015.

Image via Creative Commons