Tribeca Most Expensive Neighborhood in NYC (But SoHo Not Far Behind)

TRIBECA, NY — The second week in October means a lot of third-quarter real estate sales reports (July-August-September) are coming in. But if you were expecting a surprise at the top of the list, you're going to be disappointed.

PropertyShark released its Q3 sales reports on Tuesday and Tribeca took top honors among most expensive city neighborhoods. The average price for a home in the neighborhood was $4.45 million over the last three months. The second-place neighborhood was SoHo at $3.6 million and third was neighboring NoHo at $2.66 million. Tribeca and SoHo are at the top of basically every one of these lists whenever they come out.

The real surprise on the list was No. 4, where DUMBO finished ($2.4 million). PropertyShark called it "highly unusual" that a Brooklyn neighborhood would finish so high on the list. The next-highest neighborhood on the list not in Manhattan was Forest Hill Gardens, Queens at No. 11. One reason for the high prices in DUMBO was pegged to the opening of 1 John St., which sold 30 units in the past three months and the cheapest was $2.2 million, PropertyShark said.

NoMad, at $1.96 million, rounded out the top 5 on the Q3 2016 sales list.

Prices are up across all five boroughs from last year, though. In Manhattan, year-over-year increase is 6 percent and in Brooklyn it's 10 percent.

Top 10 Most-Expensive NYC Neighborhoods (Q3 2016):

1. Tribeca, $4.45 million
2. SoHo, $3.6 million
3. NoHo, $2.6 million
4. DUMBO, $2.4 million
5. NoMad, $1.96 million
6. Hudson Square, $1.89 million
7. Chelsea, $1.83 million
8. Battery Park City, $1.7 million
9. Greenwich Village, $1.65 million
10. Carnegie Hill, $1.6 million

Photo Credit: Aude via Wikimedia Commons