People are fleeing New York, but how much does it cost to live in the most expensive neighborhoods?

Photo: Andrés Correa Guatarasma / Courtesy

While the pandemic has resulted in an accelerated decline in New York’s population – state and city – that has been observed since at least 2016, NYC remains one of the most expensive cities in the world to live in.

The most expensive neighborhoods in New York for 2021 will be Noho, Hudson Yards, Tribeca, Central Park South and Nolita, and the average selling price between these areas is higher than $ 3 million dollars, according to a study by Property Club.

More than half of the city’s 50 most expensive neighborhoods are in Manhattan, including the top 15, while Brooklyn is home to 19 on the total list, Queens 5 and Staten Island one, based on property sales in 2020 of the report are:

• The median sale price between the city’s five boroughs is $ 700,000. Manhattan has the most expensive real estate, with an average sale price of $ 1,160,000; followed by Brooklyn. The Bronx is New York’s most affordable neighborhood ($ 519,000).
• NoHo is the most expensive neighborhood in New York, with an average retail price of $ 3,250,000.
• 19 Brooklyn neighborhoods made the list; was the most expensive Cobble Hill, with an average sales value there alone of $ 1,640,000; that is, higher than the average for Manhattan.
• 5 Queens neighborhoods are among the most expensive in NYC, directed by Ditmars Steinway, Malba and Hunters Point.
• Todt Hill is the only neighborhood on Staten Island It is listed among the 50 most expensive, with an average retail price of $ 1,150,000.

While 2020 was a tough year for Manhattan real estate, both residential and commercial for rent and sale, the market was active in Brooklyn. In that town, the average sale price was $ 900,000 dollars.

As a methodology, the study analyzed everything registered closed sales of housing in NYC in 2020. Only neighborhoods with at least 10 transactions last year were included. A notable omission for lack of sales was Manhattan’s Little Italy. The full list of the 50 most expensive neighborhoods can be found here.

No surprises given the pandemic and the increase in internet shopping and telecommuting, the vacancy of industrial premises and offices has also increased dramatically in a city full of skyscrapers, mostly workplaces.