10 Most Expensive New York City Neighborhoods

By: Kealia Reynolds Urban living
Photo by Zach Miles

Whether you’re in the market for a luxurious high-rise or just want a glimpse of the New York City’s bougiest real estate, we all love to get a good peek at the real estate elite. Here are 10 of the most expensive New York City neighborhoods.

1. Tribeca

Median sale price: $3,575,000

Coming in at the top of our list with a median sale price of $3.6 million, Tribeca is New York City’s most expensive neighborhood. Though the area has seen a 30% year-over-year decrease in the median sale price, it still reigns over other NYC neighborhoods in terms of real estate cost. Home to a thriving food scene with popular restaurants like The Odeon and Gunbae and historic, industrial buildings turned multi-million dollar lofts, it’s no surprise that A-listers like Jake Gyllenhaal, Justin Timberlake, and Jennifer Lawrence are drawn to this neighborhood.

2. SoHo

Median sale price: $3,212,500

Though SoHo clocked a 5% in median sale price decrease year-over-year, it still ranks as the second most expensive NYC neighborhood with a median sale price of $3.2 million. Known for designer boutiques like Tibi and ARI, the Eden Fine Art gallery, and million-dollar penthouses, this Manhattan neighborhood is also a popular spot for artists in residence.

3. West Village

Median sale price: $2,312,500

The West Village recorded an 88% year-over-year increase in median sale price and currently has a median of $2.3 million—nearly $1 million less than SoHo’s median sale price. Historically known as a center for American bohemian culture, the West Village espouses a vibrant, artistic scene with quirky consignment shops, historic brownstones, and celebrity sightings that have attracted buyers from near and far.

4. Hudson Square

Median sale price: $2,264,500

Surrounded by Greenwich Village, Tribeca, and SoHo, Hudson Square is another top residential neighborhood in New York City with a median sale price of $2.2 million. Once known as the Printing District, the area remains a center of media-related activity, housing a variety of creative agencies like Edelman and POSSIBLE.

5. DUMBO

Median sale price: $1,970,000

Located in Brooklyn, DUMBO (Down Under the Manhattan Bridge Overpass) is the only non-Manhattan neighborhood that ranks in NYC’s top 10 most expensive. DUMBO has a median sale price of $1.9 million and is home to converted warehouse buildings, art galleries, and tech startups. It also serves as the corporate headquarters for Etsy and West Elm. Because of its proximity to Manhattan, concentration of tech startups, and luxury residential lofts, DUMBO is one of Brooklyn’s most expensive neighborhoods.

Photo by Matthew Henry

6. Flatiron

Median sale price: $1,850,000

Named after the iconic, wedge-shaped Flatiron Building, this mostly commercial neighborhood has a median sale price of $1.8 million and is home to office high-rises, the Met Life Tower, and the New York Life Building. Stretching from Sixth Avenue to Lexington, the Flatiron District is a hub for technology and the arts, once nicknamed “Silicon Alley” for its blossoming tech sector.

7. Garment District

Median sale price: $1,690,000

Also known as the Fashion District, it’s no surprise that this neighborhood is one of the most expensive in New York City. Home to a number of fashion warehouses, showrooms, and designers like Cally Rieman, Ann Yee, and Daniel Vosovic, this district is the core of the fashion industry, not just in New York but the entire world.

8. Central Park South

Median sale price: $1,550,000

With some of the best views in New York, Central Park South surrounds the southern boundary of Central Park and is home to notoriously expensive apartments. With its proximity to high-end shopping on Fifth and Madison Avenues, this neighborhood attracts a variety of luxury real estate buyers.

9. East Village

Median sale price: $1,535,012

Featuring the prestigious New York University, East Village is home to droves students, artists, and musicians. This neighborhood comes in at number nine on the most expensive neighborhoods in New York City with a median sale price of $1.5 million. Known for its diverse community, vibrant nightlife, and artistic sensibility, the East Village is the center of counterculture in NYC and the birthplace of artistic movements like punk rock and the Nuyorican literary movement.

10. Chelsea

Median sale price: $1,430,000

What was once an industrial neighborhood has now turned into a primarily residential neighborhood with a median sale price of $1.4 million. In addition to its luxury townhouses, renovated row houses, and popular restaurants like Txikito and Toro, Chelsea is known for Chelsea Market and the High Line—two popular tourist destinations.


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