Hudson Yards has strengthened its position as the most expensive neighborhood of New York City for – not the first, not the second, not the third – but the sixth year running, at an average sale price of $ 5.36 million in the first quarter of 2025, according to a new property.
Despite a price drop of $ 645,000 a year, the Enclave Far West Side exceeded all competitors, driving from high -level stroke sales and an increase in transactional activity.
The report, which analyzed Condo’s sales, co -ordination houses throughout the city, highlights a strong start of the year for the city’s luxury real estate market.
The average sales pricing across the city went up 10% from last year to $ 1.15 million. Among the city’s 50 most precious neighborhoods, 41 boasted average sale prices over $ 1 million – 10 more than in Q1 2024 – with five Manhattan local lands exceeding $ 2.5 million.
“Hudson Yards have been constantly at the top of the rankings since mid -2019,” said Eliza Theiss, the author of the report, in an interview with The Post. Around that time in 2019 is when Megadevegment Hudson Yards – which also includes shopping, dining and a theater – made his much -expected debut.
“Since Hudson Yards’s housing developments began selling, the neighborhood has introduced itself as [No. 1] The most spent neighborhood due to the high-level shares that prevails in this sub-noting of Manhattan. “
Neighborhood dominance is highlighted by its sales figures: six out of the 13 transactions in Q1 2025 exceeded $ 6 million, including two eight -figure agreements in 35 Hudson yards, where an 8,901 square foot unit was sold for $ 13.99 million and a $ 8,601 million.
‘The next two’ cheaper ‘sales were a 2,249 square meter unit that went for $ 4.99 million and a 2,749 -square -foot unit that sold for $ 4.99 million, ”noted Theiss. Ten out of the 13 agreements were included in 35 Hudson yards, with the other three in 15 Hudson yards.
Even the lowest-price sale-907 square-foot-shoot-engaged with $ 4.1 million.
Hudson Yards also saw a 160% increase from year to year on sale, although this was translated into only eight additional transactions.
“Looking forward, Hudson Yards are likely to continue to prevail NYC ranking as it has been for the past six years,” Theiss said. She noted that the neighborhood slipped only from first place in neighborhoods with less than five sales, such as Q3 2024, when Soho claimed first place, or Q2 2020, when Tribeca took the lead.
Manhattan prevailed in the 10 most precious neighborhoods, providing six points.
Little Italy, missing from the last second ranking in the volume of low sales, withdrew in second place with an average of $ 4.59 million, by car from high -level Nolita Condo sales, including a unit of $ 8 million in prince residences. Soho ($ 3.85 million) and Tribeca ($ 3.3 million) followed, while sub-regret soho Square Hudson ($ 2.6 million) rounded the first five after a 61%price jump. The area of the Theater-Time District Square closed the top 10 places.
However, Brooklyn brought out Manhattan in general, placing 22 neighborhoods in the first 50 compared to Manhattan 20.
“Brooklyn Edging Manhattan Out is a very recent and still sporadic development of the NYC market,” Theiss added. “While Brooklyn 15 years ago that exceeded Manhattan still seemed far away, the presence of Brooklyn in the top 50 countries has increased continuously.”
She attributed this flying price of Manhattan by pushing buyers in Brooklyn, promoting high -level property demand. Cobble Hill led Brooklyn with $ 1.91 million, followed by Dumbo ($ 1.88 million) and Boerum Hill ($ 1.7 million).
Queens tracked 11 neighborhoods in the top 50, led by Malba with $ 1.6 million – only $ 115,000 shy of 10 balls.
“Queens always falls behind because there are no price levels of the other two municipalities,” Theiss said.
“Prize buyers from Manhattan have tended to choose Brooklyn as their future market compared to Queens, the second with a number of factors, including its most appropriate manhattan proximity.”
However, Queens has shown a steady growth, with neighborhoods as Auburndale – which is near Nassau County – increasing from a media $ 719,500 in 2016 to $ 960,000 in 2024.
Some traditional heavy weights were prevented.
Carroll Gardens, the former -nr 4 of Brooklyn, saw the price of its average sale drop from $ 2.79 million to $ 1.38 million, driven by smaller homes on average 1,035 square meters. The Flation and Chelsea district also fell, sitting at no. 19 with $ 1.38 million media after 30% drop in prices associated with a shift to co-ops and smaller units.
As the city’s luxurious market heats up, Hudson Yards’s stable reign signals Manhattan control at the ultra high end, though Brooklyn wins ground.
“Manhattan still remains the prevailing power,” Theiss said, citing its concentration of high -level neighborhoods and considerable prices with the most precious brooklyn areas.
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