The most expensive New York City neighborhoods, according to PropertyShark

A view of DUMBO, Brooklyn, as seen from One World Trade Center in New York City.

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A view of DUMBO, Brooklyn, as seen from One World Trade Center in New York City.
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Wikipedia Commons

As construction booms in Manhattan and Brooklyn, New York City housing prices keep soaring.

Real estate site PropertyShark recently pinpointed where it’s most expensive to live in the city now.

To compile the Q3 ranking, the company found median prices for residential properties sales closed between July 2017 and September 2017 (including single-family homes, condos, and co-ops).

Compared to last year, more Brooklyn neighborhoods made the list. Brooklyn has become one of the fastest growing NYC boroughs, which has strained its housing market in some areas.

To keep up with the city’s rising population, Mayor Bill de Blasio implemented an affordable housing plan in 2014 that aims to preserve or create 200,000 units of housing with regulated rents by 2024. As of July 2017, 77,651 affordable units – with rents no higher than $3,461, depending on the household income – have been financed by the city.

Below are the 10 most expensive New York City neighborhoods, along with their median home sales prices, as of this fall:


10. Dumbo, Brooklyn — $1.58 million

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Phil Roeder/Flickr

9. NoMad, Manhattan — $1.69 million

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The NoMad hotel in New York, New York.
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Jetsetter

8. Red Hook, Brooklyn — $1.92 million

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Red Hook Waterfront

7. Garment District, Manhattan — $1.93 million

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Rasmus Zwickson/Flickr

6. Little Italy, Manhattan — $2.29 million

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littleny/Shutterstock

5. SoHo, Manhattan — $2.85 million

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Shutterstock

4. Hudson Square, Manhattan — $2.89 million

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A rendering of Renzo Piano Building Workshop’s 565 Broom Soho to be in Hudson Square, New York.
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Noë & Associates with The Boundary

3. Central Park South, Manhattan — $3.39 million

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Courtney Verrill

2. TriBeCa, Manhattan — $4.09 million

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Sarah Jacobs/Business Insider

1. Flatiron District, Manhattan — $4.39 million

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The Business Insider offices are located in Flatiron.
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Shutterstock

It’s perhaps not shocking that Flatiron District, a Manhattan neighborhood that got its name from its famous skinny building, tops this list.

In Q2 of 2017, Flatiron ranked second. Its median sale price reached $4,399,375 in Q3, a 220% increase compared to the same time last year, according to PropertyShark.

One of the NYC’s priciest homes for sale is in the Madison Square Park Tower, located a block away from the Flatiron building. As Curbed notes, the $48 million penthouse has panoramic views of the city, including the Chrysler Building, One World Trade Center, and the Empire State Building. The home also includes floor-to-ceiling glass walls, two other studio apartments for staff on the tower’s lower floors, and two parking that normally cost $500,000 each.