These Are NYC's Most Expensive Neighborhoods

NEW YORK, NY — The money's still in Lower Manhattan. Tribeca was once again New York City's most expensive neighborhood for real estate for the last three months despite a big price drop, a new PropertyShark report says.

The real estate blog created a ranking of the city's priciest neighborhoods based on residential property sales closed from April through June. The "top 50" list actually included 56 neighborhoods, as some tied in the same spot.

The median Tribeca home sold for a whopping $3.8 million in the second quarter of this year — but that's down 26 percent from the same period last year, Property Shark found.

Tribeca similarly ranked No. 1 in the first quarter of this year despite a 30 percent year-over-year decrease in the median price, according to PropertyShark.

SoHo held its No. 2 spot in the second quarter with a median sales price of about $2.9 million, up 17 percent from last year.

Just one Brooklyn neighborhood made the top 10. Dumbo, the borough's priciest 'hood, came in at No. 3 with a median price of about $2.5 million, a 37 percent increase from last year. The neighborhood saw just 16 registered sales in the second quarter, only two of which were below $1.5 million, according to PropertyShark.

Manhattan dominated the overall list with 24 neighborhoods, while Brooklyn had 21 and Queens had 11.

Homecrest, near Sheepshead Bay in Brooklyn, ranked 45th in the city but saw it's median sales price rise 80 percent compared to last year — the largest increase in the city. Sales at two condominiums, 1679 E. 19th St. and 1769 E. 13th St., accounted for half the neighborhood's transactions, according to PropertyShark.

The title of Queens' most expensive nabe belonged not to the glittering towers of Long Island City but the Rockaway community of Belle Harbor, which ranked 16th. The neighborhood recorded five sales last quarter with a median price of nearly $1.2 million, up 40 percent from last year, PropertyShark found.

See where your neighborhood ranks on PropertyShark's list here.

(Lead image: Photo by Erik Pendzich/Shutterstock)