Upper East Side Had The Most Home Price Drops In NYC Last Month

UPPER EAST SIDE, NY — A stretch of the Upper East Side saw the most drops in home prices last month of any neighborhood in New York City, according to a new report.

According to the study by RealtyHop, 171 homes saw their listed prices drop in November within the area bounded by 59th and 96th streets to the north and south, and Fifth and Third Avenues to the west and east.

That's the most total price drops of any neighborhood in the city — closely followed by the Turtle Bay-Midtown East area, with 159 drops, and Lenox Hill-Roosevelt Island, with 133.

Click around the map below to explore each neighborhood:

The home with the single highest price drop in November was also on the Upper East Side. A 13th-floor apartment at 1040 5th Ave., just north of the Metropolitan Museum of Art, had its listing price reduced by a whopping $7.4 million last month, according to RealtyHop.

While the Upper East Side saw the most price drops, it didn't have the steepest. That honor belongs to Brownsville, Brooklyn, where home prices dropped by a median of 8.4 percent, or about $101,000.

The highest median price drops by dollar amount, meanwhile, were in the SoHo-TriBeCa-Civic Center-Little Italy area, where home prices declined by a median of $222,500. In second place was the Upper East Side-Carnegie Hill area, which saw a median $120,000 decline.

Read the full study at RealtyHop.