$4.6M Hudson Yards Maintains Top Spot, Luxury Sales in Malba Set $2.5M Price Record for Queens

Key Takeaways:

• Hudson Yards maintains leading position with $4.62 million median, despite 14% Y-o-Y decline
• Little Italy looses #2 spot after 50% price cut, TriBeCa takes over with $4.25 million median after 29% Y-o-Y jump
• Malba sets new pricing record for Queens at $2.5 million, lands highest ranking for borough at #5
• At $2.32 million, Carroll Gardens leads Brooklyn at #7 as both prices and sales surge
• Flatiron District records sharpest median sale price gain among city’s leading neighborhoods, surging 74% Y-o-Y to reach $2.39 million
• Prices rise in 37 of city’s most expensive neighborhoods, while sales increase in 23
• Up 4% Y-o-Y, New York City’s median sale price inches up to $800,000 across 6,916 transactions

The New York City real estate market started the new year with a 4% year-over-year (Y-o-Y) price increase that lifted its median sale price to $800,000, sliding back up to Q3 2025 pricing levels. Although median sale prices rose across all four boroughs, it was Manhattan’s 8% Y-o-Y increase that drove much of the city’s price appreciation as it supplied 41% of sales.

Notably, the city’s upward pricing trajectory was paired with a 3% Y-o-Y decrease in transactional activity, pulling sales down to 6,916 transactions of condos, co-ops and single family homes in the first three months of 2026. More precisely, sales activity trended down in Brooklyn, Queens and the Bronx, with only Manhattan transactions rising — but, even here, sales inching up only 2% Y-o-Y. Manhattan also logged the sharpest price increase, rising to $1.24 million after an 8% Y-o-Y gain.

Focusing on the city’s 50 most expensive neighborhoods, 55 neighborhoods were included in the ranking in Q1 2026 due to four pricing ties. Specifically, Brooklyn and Manhattan placed 22 neighborhoods each among the city’s priciest, while Queens ranked 11, including Malba at #5 — the highest ranking ever reached by any Queens neighborhood. Not only that, but Malba’s $2.5 million median sale price also set a new pricing record for the borough.

Notably, 39 of the city’s most exclusive neighborhoods surpassed $1 million, which is two fewer than in Q1 2025. Of these, five neighborhoods reached median sale prices comfortably above $2.5 million.

Explore the interactive map below for at-a-glance price and sales insights for NYC’s neighborhoods in Q1 2026:

Top 10 Most Expensive NYC Neighborhoods

$4.62 Million Hudson Yards Still Leads, TriBeCa Closes Gap to Under $400K

The city’s growing price trends were also reflected among NYC’s top 10 most expensive zip codes, six of which saw their medians rise by as much as 74% Y-o-Y. At the same time, sales also accelerated in six of the city’s 10 leading neighborhoods, led by Carroll Gardens’ 80% jump. However, the biggest standout among the city’s top 10 most expensive neighborhoods was Malba, which grabbed the highest position yet for Queens with a record-setting price.

That said, Hudson Yards — NYC’s near-perpetual #1 most expensive neighborhood — went against the grain with both its sales and its median sale price trending down: Compared to Q1 2025, Hudson Yards sales were halved at the start of this year. That’s because only six transactions closed at 35 Hudson Yards as sales slowed to a near halt. At the same time, the exclusive neighborhood’s median sale price declined 14% Y-o-Y to $4.62 million, leaving the city without any neighborhoods above the $5 million median in Q1 2026.

Next, TriBeCa captured the #2 spot from Little Italy, where prices were halved year-over-year, whereas TriBeCa’s median sale price rose 29% Y-o-Y. That translated to an increase of $950,000 compared to Q1 2025, bringing TriBeCa up to a $4.25 million median sale price even and shrinking the gap with TriBeCa to under $400,000. This happened even as sales activity remained practically unchanged: 70 sales now versus 69 a year ago.

Little Italy’s price crunch also allowed SoHo to maintain its #3 position, despite a 16% Y-o-Y price decrease. As a result, SoHo closed the first quarter of the year at $3.24 million — a significant $600,000 below its year-ago price point. Meanwhile, Hudson Square grabbed #4 with a 13% Y-o-Y price increase, closing the first quarter of the year just $50,000 shy of $3 million.

Landing #5 with a historic pricing peak of $2.5 million, Malba rewrote Queens’ position among NYC’s 50 most expensive neighborhoods, marking the borough’s highest position yet in the ranking. Plus, Malba’s Q1 2026 figures were also far ahead of the next-highest price point: The $2.05 million median sale price also posted by Malba back in Q1 2020.

Although both price peaks were achieved across only five sales each, this is in line with Malba’s typical, single-digit sales activity. That said, Malba’s new $2.5 million record price came after a 61% Y-o-Y increase, fueled by the sale of exceedingly large homes: The average size of Malba homes sold in Q1 of this year was 3,096 square feet. For comparison, the borough averaged 2,025 square foot single family houses for the same period, while above Malba’s year-ago average was 1,351 square feet. Read more about Malba’s performance and historic price context.

Similarly, a 74% Y-o-Y price surge brought the Flatiron District to #6, lifting its median sale price by more than $1 million to $2.39 million and returning the neighborhood to the top 10 from its year-ago position at #19. This was also the sharpest price increase among the city’s 50 most expensive neighborhoods and came as the result of a change in the mix of properties sold. In this case, the share of co-ops sold dropped, while the number of condo sales rose with nearly half of condos selling for more than $1.5 million.

Meanwhile, the number of Flatiron District sales dropped by one-third year-over-year to 54 unique deals. This represented one of the sharpest slowdowns in transactional activity among the city’s richest neighborhoods and came as the result of sales nearly halting at The Victoria, in addition to none being recorded at Gramercy Place.

Next, at #7, Carroll Gardens was Brooklyn’s priciest neighborhood after prices rose 67% Y-o-Y to lift the neighborhood’s median sale price to $2.31 million. This was accompanied by an 80% Y-o-Y increase in sales, although, in actual transactions, that translated to just eight additional sales. Even so, both metrics were driven up by high-end deals with half of Q1 2026 sales trading for more than the neighborhood’s most expensive Q1 2025 transaction.

Falling to #8, Little Italy’s real estate market trended down noticeably in the first quarter of the year, with both sales and prices in decline. However, the neighborhood’s 14% decrease in sales translated to just one less closed deal compared to the same period last year. Yet, a drastic, 50% Y-o-Y price contraction — the sharpest among NYC’s 50 most expensive neighborhoods — slashed Little Italy’s median sale price by $2.32 million with the compact Lower Manhattan neighborhood closing Q1 at $2.28 million.

This was the result of multiple factors: First, half of Little Italy sales at the start of this year were co-ops compared to none during the same period last year. Second, the average size of condos sold dropped significantly, going from 2,250 square feet one year ago to less than 1,600 square feet during the first three months of this year.

Then, with DUMBO taking #9, Brooklyn secured its second spot among the city’s 10 most exclusive neighborhoods with a $2.39 million median sale price. Despite a 19% Y-o-Y price increase, DUMBO lost two positions compared to last year as it was overtaken by the price performances of Malba, the Flatiron District and Carroll Gardens. Even so, the borough’s 63% Y-o-Y hike in sales was one of the sharpest among the city’s leading neighborhoods, although that translated to a gain of just 10 additional transactions.

Manhattan rounded out the city’s most expensive neighborhoods with the Garment District taking #10 at a $2.16 million median sale price. This brought the neighborhood back into rankings after its absence in Q1 2025, the result of depressed sales.

Most Expensive Brooklyn Neighborhoods

$2M+ Carroll Gardens & DUMBO Lead Brooklyn in Q1 2026

Of the 22 Brooklyn neighborhoods ranked among the 50 most expensive in NYC, three neighborhoods surpassed $2 million in the first quarter of 2026, as compared to none during the same period last year. This year, Carroll Gardens ranks as NYC’s #7 priciest and DUMBO comes in at #9. An additional 14 Brooklyn neighborhoods stood north of $1 million.

Carroll Gardens also stood out with sharp increases in both sales (+80% Y-o-Y) and pricing (+67% Y-o-Y), driven by an increase in luxury sales. Specifically, four units traded at 506 Henry St. with prices ranging between $2.57 million and $3.35 million, in addition to two single family houses for $5 million and $5.5 million, respectively.  

The Columbia Street Waterfront District (#19) also saw a significant, 56% Y-o-Y increase, rising from $899,000 to $1.4 million while sales decreased to just five transactions. Conversely, Cobble Hill (#28) contracted 37% Y-o-Y to just shy of $1.2 million as sales here rose by nearly one-third. To that end, of the neighborhood’s 22 sales, 13 were priced north of $1 million as compared to 11 of the neighborhood’s 17 total sales a year ago.

Meanwhile, Williamsburg’s (#33) 28% Y-o-Y median sale price decrease was the result of fewer large-footprint condo sales. Specifically, only eight units over 2,000 square feet sold at the start of this year compared to 20 last year. This in turn also lowered the average size for properties sold in Williamsburg from 1,356 square feet a year ago to 1,174 square feet in Q1 2026.

Likewise, in Boerum Hill (#25), the median sale price dropped by one-quarter as sales activity heated up 67% Y-o-Y for the second-sharpest rise among the city’s most expensive neighborhoods. Both metrics were influenced by the condo sales at 323 Bergen St.

Q1 2026 Sales-Changes – Infogram

Notably, Boerum Hill, Carroll Gardens and DUMBO actually had the three sharpest increases in sales among the city’s leading neighborhoods, whereas the Columbia Street Waterfront District and Greenpoint recorded some of the most significant drops in transactional activity, both slowing 29% Y-o-Y.

Most Expensive Queens Neighborhoods

Tiny Malba Sets $2.5 Million Historic Price Record for Queens

Usually trailing Manhattan and Brooklyn among NYC’s 50 most expensive neighborhoods, Queens nevertheless provided one of the stand-out stories of Q1 2026 with Malba’s record-setting $2.5 million sale price.

Plus, not only was this a new historic peak for Queens, but it was also $450,000 higher than the borough’s previous record, which was also set by Malba back in Q1 2020. And, the borough’s third-highest peak was $1.68 million — set, as expected, by Malba back in Q4 2021. In fact, of the 10 highest quarterly median sale prices reached by any Queens neighborhood, Malba posted nine with Neponsit claiming the remaining one.

Although its Q1 2026 record was reached across only five sales (the minimum sales threshold for determining accurate price metrics for this report), Malba’s sales activity is generally muted, typically staying in single-digit territory. As one of the city’s smaller neighborhoods, it’s home to around 850 residents and consists overwhelmingly of single family homes. As such, Malba recurringly misses PropertyShark’s top 50 priciest neighborhood ranking due to low sales activity.

Malba’s new $2.5 million median sale price was the result of a 61% Y-o-Y jump, pushed up by the sale of large-footprint homes. As a matter of fact, four of the five homes sold in Malba sat above the neighborhood’s average Q1 size (2,025 square feet) and two homes were twice as large. Specifically, the $3.12 million mansion at 1-04 Malba Drive has 4,966 square feet and the $2.82 million waterfront brick at 95 Malba Dr. has 4,040 square feet.

Beyond Malba, Queens’ performance was in line with the borough’s established trends, placing a total of 11 neighborhoods among the city’s 50 most expensive, with all but Malba in the ranking’s bottom half. After Malba, the borough’s next-most-expensive neighborhood was Fresh Meadows at #27 with a $1.21 million median sale price after an 18% Y-o-Y increase.

Then, Hunters Point (#30) and Ditmars-Steinway (#36) followed, both climbing back above $1 million. Here, a 20% Y-o-Y gain lifted Hunters Point to $1.16 million, whereas a lower, 9% Y-o-Y increase brought Ditmars-Steinway to $1.02 million. These four Queens neighborhoods were the only ones to surpass the million-dollar mark, which is one less neighborhood than during the same period last year. Queens’ next-priciest neighborhood, Ridgewood (#37), missed the threshold by just $5,000.

Finally, Belle Harbor (#40) and Rockwood Park (#42) stood out with noticeable changes in sales activity, although these sharp variations were logged across just a handful of sales, thereby skewing metrics. Specifically, Rockwood Park’s 56% Y-o-Y sales increase translated to a change from nine transactions to 14, while Belle Harbor’s 29% Y-o-Y decrease actually meant a drop from seven to five deals.  

Queens also supplied the city’s #50 most expensive neighborhood with Old Howard Beach at $873,000. It came in 3% lower than the $900,000 median sale price that placed Auburndale in that position back in Q1 2025.

For more information, explore New York City’s 50 most expensive neighborhoods in Q1 2026 in the interactive table below:

Top 50 Most Expensive NYC Neighborhoods in Q1 2026

Methodology

Median sale prices were calculated based on closed residential property sales recorded in ACRIS between January 1 and March 31, 2025, and January 1 and March 31, 2026. 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 five sales between January 1 and March 31, 2026. Year-over-year changes in median sale prices or the number of sales were calculated only for neighborhoods that also recorded a minimum of five sales between January 1 and March 31, 2025. Additionally, median sale prices were rounded to the nearest $1,000.

In this report, NYC is defined as the four boroughs of Brooklyn, the Bronx, Manhattan and Queens. Staten Island was excluded.

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FAQs 

1. Which neighborhood was the most expensive in NYC in Q1 2026?

Hudson Yards was the most expensive neighborhood in the city with a median sale price of $4.62 million.

2. What were the other top priciest neighborhoods?

TriBeCa was second ($4.25M), SoHo ranked third ($3.25M), Hudson Square was the fourth most expensive ($$2.95M) and Malba finished the top five ($2.5M).

3. Which borough had the most neighborhoods in the top 50?

Manhattan and Brooklyn had 22 neighborhoods each in the top 50 most expensive and Queens claimed 11.

4. Are high prices limited to Manhattan?

No. While Manhattan dominates the highest price tiers, Brooklyn also ranked two neighborhoods in the top 10 priciest — Carroll Gardens was #7 at a $2.31M median sale price and DUMBO was #9 at $2.24M — , while Queens reached its highest position yet with Malba placing #5 at a $2.5M median sale price.

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