Little Italy Is The 3rd Priciest Neighborhood In The City

LITTLE ITALY, NY — Little Italy and Nolita were the third priciest neighborhoods in the city, according to a new report.

The median residential sales prices in Little Italy and Nolita spiked 153 percent over just one year — surpassing the adjacent SoHo neighborhood, according to a new PropertyShark report.

Little Italy and Nolita jumped to the third priciest, according to the report, which looked at the median residential sales prices in the second quarter of 2019. The median sales price was $2.7 million.

PropertyShark said the price surge was due to two sales in the re-developed Puck Building, owned by the Kushner Companies, in Nolita.

The two units cost a whopping $18 million each. Nine residential transactions closed in the neighborhood during the second quarter, including those two Puck Building sales, the PropertyShark report said.

In recent weeks, at least one Puck Building penthouse that sold for $18 million appears to have had an anonymous buyer, The Real Deal reported in mid-March, though it is unclear if that is the unit included in the second quarter PropertyShark analysis.

SoHo was just behind Little Italy in fourth, with a median sale price of $2.62 million, the PropertyShark report said.

PropertyShark looked at median residential sale prices based on sales that closed between April 1 and June 30 for single-family homes, condos and cooperatives. Only neighborhoods with more than five sales were included.

Tribeca topped the list, with a median sale price of $4.34 million.

Hudson Yards was the second priciest in New York City last quarter with a median sale price of $3.86 million, per PropertyShark.

Gramercy Park was tenth, with a median sale prices spiking 87 percent from last year to $1.7 million, the report said.

See where your neighborhood stands: