(New York, NY) — The Triangle Below Canal Street, or TriBeCa, as it’s more commonly known, not only reigns supreme as the most expensive neighborhood in New York City, according to PropertyShark’s Q1 2018 report, but has done so consecutively, to no one’s surprise.
TriBeCa Median Sale Price – $3,575,000
The borough had a top spot in last year’s Q1 report, as well, though the neighborhood has seen a 30 percent year-on-year decrease, much greater than that of TriBeCa’s next-best-thing, SoHo, which only saw a 5 percent decrease.
SoHo Median Sale Price – $3,212,000
The SoHo neighborhood, although listed at around a whopping $3.2 million median sale price, checked out of the Q1 report with only 36 transactions.
West Village Median Sale Price – $2,312,500
Perhaps one of the most spectacular year-on-year changes came with the West Village, which rounded out a whopping 88 percent increase with 84 transactions, ten of which closed in Q1 2018 at 643-651 Greenwich Street, at a median sale price of $3.8 million.
Hudson Square Median Sale Price – $2,264,500
The West Village’s 88 percent year-on-year increase is a hard act to follow, especially when your act is a downtrodden 10 percent decrease in Manhattan.
That was the case with Hudson Square, which disappointed in the Q1 report with only 12 transactions.
DUMBO Median Sale Price – $1,970,000
Even as DUMBO’s median priced dropped just below $2 million, the neighborhood kept its place in the top five with a 13% contraction year-over-year, with a median sale price of $1.9 million and 15 transactions that closed in Q1 2018.