Prospect Heights Among Most Expensive NYC Neighborhoods In 2020

PROSPECT HEIGHTS, BROOKLYN — The real estate market in New York City has undoubtedly lowered in price during 2020, but that doesn't mean certain neighborhoods still don't cost a pretty penny.

Nineteen Brooklyn neighborhoods — including Prospect Heights — ranked in the top 50 most expensive New York City neighborhoods going into 2021, according to a study from Property Club.

The high price tags showed what experts have noticed throughout 2020: that Manhattanites are heading to the outer boroughs.

"While 2020 was a tough year for Manhattan real estate, many New Yorkers flocked to Brooklyn, where the market remained hot. 19 Brooklyn neighborhoods made our list, including Cobble Hill, the most expensive nabe in the borough, where prices averaged $1,640,000," researchers said.

The real estate website put together the rankings by looking at all recorded closed sales for residential properties in NYC for 2020. It only included neighborhoods with at least 10 sales during the year.

The outcome was slightly different than a previous ranking of the most expensive neighborhoods for the year by Property Shark, which excluded most December sales.

In Property Club's analysis, the most expensive neighborhood in Brooklyn was Cobble Hill, which landed 16th on the overall New York City list with a median price of $1.64 million for its 82 home sales.

In Prospect Heights, a $1.2-million median price tag put the neighborhood in the 30th spot on the list. Nearby Park Slope ranked 26th.

Still, Manhattan dominated the list, with over half of NYC's priciest neighborhoods coming from the borough, along with the 15 most expensive.

You can check out the full list on Property Club's website.

Patch Reporter Gus Saltonstall contributed to this report.