Newcomer in the Top-10 Most Expensive NYC Neighborhoods: Manhattan Beach, Brooklyn

As home sales and median sale prices across NYC have continued to inch up in Q3 2012, Brooklyn is pulling some aces from its sleeve–Manhattan Beach has secured the #4 place in the list of the most expensive NYC neighborhoods PropertyShark completed for this quarter. Median sale prices in Manhattan Beach have spiked at 143% over the previous quarter to an impressive $1,120,000, quite close to reaching a tie with #3 on the list, the Flatiron District ($1,175,000).

This is still almost half the average price home buyers are paying in Soho, Manhattan ($2,200,000), the most expensive NYC neighborhood for several quarters in a row, and still a far cry from #2 Tribeca ($1,974,800). Dumbo, on the other hand, the other top-favorite Brooklyn neighborhood, didn’t make it on this list this quarter.

There were 11,050 homes sold across NYC in Q3 2012, 10% more than last quarter and at an average sale price of $517,000 (7% up quarter-by-quarter).

The most expensive home sold this quarter is nothing compared to last quarter’s top sale, but it still put a nice amount in its seller’s pockets: $21,000,000. That’s how much the penthouse at 721 Madison Ave #10W was sold for.

According to The Real Deal, the penthouse was quite an unconventional deal closed in August between Himmel and Meringoff Properties principal Stephen Meringoff and previous owner-for-10-years Jonathan Sobel.

The other priciest home sale of Q3 2012, at a tie with the one above, is the single-family home at 26 E 73 St. It was sold in the same month for the same amount ($21,000,000), and is rumored to have been checked out several times by actor Jerry Seinfeld. The 6,900 sqft home had been on the market for 2 years before it was finally bought by an anonymous LLC.

Roxana Baiceanu

Roxana Baiceanu

Roxana is an associate editor with Multi-Housing News and Commercial Property Executive. In the past, she also created content for PropertyShark and Point2Homes’ blog pages. She also has 5 years of experience as a marketing copywriter.