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Report finds that Brooklyn
had more expensive
Manhattan in the second
quarter of 2020
BY EMILY DAVENPORT
A new report sought to fi nd
out which neighborhoods
were hit the hardest by the
PropertyShark analyzed all
residential property sales closed in
Manhattan, Brooklyn, Queens, and
the Bronx between April 1 and June
30 and worked in data from neighborhoods
that had at least fi ve sales in
the second quarter. According to their
fi ndings, 44 neighborhoods had less
than fi ve sales during this time period.
As a result, Hudson Yards, which
previously held the title of most
expensive, lost the spot to TriBeCa,
which had 48 sales and a median price
of $3.7 million. The number two spot
went to Little Italy with 7 sales and a
median price of $2,750,000, followed
by SoHo with 15 sales and a median
price of $2,425,000. Brooklyn’s
DUMBO neighborhood is the fourth
most expensive with 6 sales and a median
price of $2,075,000, followed by
Carroll Gardens with a median price
of $2,062,550 and 8 sales.
Out of the 50 neighborhoods listed
in the report as the priciest, Brooklyn
had more neighborhoods than Manhattan
for the fi rst time. Brooklyn had
23 neighborhoods while Manhattan
had 21 neighborhoods listed.
Eight Queens neighborhoods made
their way onto the list, with Fresh
Meadows taking the 27th spot on the
list with a median price of $930,000
and 16 sales. While the Bronx wasn’t
represented on this list, the borough
did have the highest pricing gain
among the four boroughs, climbing
12.5% to a median sale price of
Read the full report at www.propertyshark.
PHOTO VIA GETTY IMAGES
Schneps Media August 13, 2020 17