In 2024, Hudson Yards was declared Manhattan's most expensive neighborhood for the sixth consecutive year, reaching a median sale price of $7.13 million, despite a drop in sales from 45 to 24. The overall real estate market saw a slight recovery with a 3% increase in median sales prices citywide, averaging $748,000. Nevertheless, Manhattan's figures remained relatively flat compared to last year. Tribeca and Soho followed Hudson Yards as the second and third most expensive neighborhoods, respectively, reflecting the ongoing dominance of Manhattan in New York City's luxury real estate market.
Hudson Yards has maintained its title as the most expensive neighborhood in Manhattan for the sixth consecutive year, clocking in a median sale price of $7.13 million.
Despite a 3% year-over-year increase in real estate prices citywide, the number of sales dipped slightly, indicating a challenging market dynamic.
The disparity in sales figures highlights the ongoing trend of reduced transactions even in the highest-priced neighborhoods like Hudson Yards and Tribeca.
Manhattan continues to dominate New York City's luxury real estate market, with nine of the top ten neighborhoods and 27 out of the top 50 listed in the borough.
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