The most expensive New York City neighborhoods right now, according to PropertyShark

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November 7, 2017 8:27 PM

PropertyShark ranked New York’s most expensive neighborhoods for Q3 of 2017. In Flatiron, the median home sale price is $4.4 million, a 220% increase from 2016.

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

10. Dumbo, Brooklyn — $1.58 million

9. NoMad, Manhattan — $1.69 million

8. Red Hook, Brooklyn — $1.92 million

7. Garment District, Manhattan — $1.93 million

6. Little Italy, Manhattan — $2.29 million

5. SoHo, Manhattan — $2.85 million

4. Hudson Square, Manhattan — $2.89 million

3. Central Park South, Manhattan — $3.39 million

2. TriBeCa, Manhattan — $4.09 million

1. Flatiron District, Manhattan — $4.39 million

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

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 The home also includes two other studio apartments for staff on the tower's lower floors, and two parking that normally cost $500,000 each.

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