By Michael V. Cusenza
South Queens communities Rockwood Park and Belle Harbor are among the 50 most expensive in the Big Apple, according to a recent report by PropertyShark.
Both neighborhoods tied for 47th place on the PS list, with a median sales price of $930,000.
“Although Queens had no neighborhoods in the top 10 in 2024, it did rank three additional neighborhoods in the top 50 for a total of 10. Not only that, but the median sale price rose in all but one Queens neighborhood, with Hunters Point ticking down just 1 percent year-over-year. Despite this, Hunters Point was the most expensive Queens neighborhood in 2024 and the only neighborhood in Queens with a median sale price above $1 million,” according to PS staff. “It should be noted that Malba and Neponsit which both broke the $1 million mark in previous years, didn’t make our 2024 list due to insufficient sales, both closing fewer than 15 transactions. Meanwhile, East Flushing stood out with a remarkable jump from No. 102 in 2023 to become last year’s No. 50. This resulted from a 46-percent Y-o-Y median sales price jump, the sharpest price increase outside of Manhattan, bringing East Flushing to $880,000.”
Other borough nabes that made the list include Queensboro Hill, Fresh Meadows, Hollis Hills, Bayside, and Auburndale.
According to the report, last year’s “sales trends were nearly evenly split among the city’s most expensive neighborhoods, as the number of sales increased in 26 locations and decreased in 30, with two more neighborhoods flat year-over-year. Among neighborhoods with slowing sales activity, eight saw their sales decrease at least 25 percent year-over-year.”
Manhattan’s Hudson Yards retained the title of most expensive NYC neighborhood for the sixth consecutive year, with a “staggering $7.13 million median sale price,” ProprtyShark reported.
Brooklyn was the only borough to see an increase in both the median sale price (up 5 percent Y-o-Y) and the number of transactions (up 2 percent Y-o-Y). But the borough especially stood out with Greenpoint, which experienced the sharpest increase in the number of sales, surging 142 percent Y-o-Y in 2024. Conversely, Boerum Hill saw one of the largest declines in sales activity among the city’s priciest neighborhoods, with sales slowing 46 percent year-over-year.
At the same time, the Columbia Street Waterfront District and Gowanus registered one of the sharpest price contractions among NYC’s richest neighborhoods, with their respective medians dropping 23 percent year-over-year.
Median sale prices were calculated based on closed residential property sales recorded in the Automated City Register Information System Jan. 1 and Dec. 31, 2024, and Jan. 1 and Dec. 31, 2023. Residential asset types included were single family homes, condos and co-ops. Package deals were excluded.
Median sale prices were calculated only for neighborhoods that recorded at least 15 sales between Jan. 1 and Dec. 31, 2024. Year-over-year changes in median sale prices or the number of sales were calculated only for neighborhoods that also recorded a minimum of 15 sales between Jan. 1 and Dec. 31, 2024. Additionally, median sale prices were rounded to the nearest $1,000.
