This Was NYC's Most Expensive Neighborhood In 2018

TRIBECA, NY — Tony Tribeca maintained its title as the city's most expensive neighborhood for another year, according to a new Property Shark report.

The Lower Manhattan neighborhood landed on the top spot of the real-estate website's 50 most expensive New York City neighborhoods list with a median home sale price of $3.85 million and 289 residential deals closed in the area, the report notes.

Even with neighborhood prices dropping 18 percent year-over-year, there's an $850,000 difference between the first and second spot occupied by nearby Soho, which had a median income just shy of $3 million and saw stagnant prices across the neighborhood, according to the report.

Property Shark compiled the top 50 list based on residential property sales closed between Jan. 1 and Nov. 23. The list actually includes 52 neighborhoods because there were two ties — the East Village and the Upper West Side tied for the 19th slot, and Chinatown and Windsor Terrace were in a dead heat for the 49th position.

The Financial District, the Flatiron District and Little Italy recorded this year's biggest decreases in median sale prices, the report notes.

FiDi's figure plummeted 34 percent from last year to $995,000, placing it in the 27 spot. That price is roughly a quarter of Tribeca's median.

Little Italy saw the biggest year-over-year drop on the list — the neighborhood's median price fell 42 percent to about $1.31 million, still enough to make the bottom spot in the top ten, the report shows.

The Flatiron District recorded a 32 percent decrease, putting its median price at $1.57 million, which ranks eighth on the list, according to the report.

PropertyShark says the neighborhood's prices were inflated last year by dozens of luxury condo sales at the Madison Square Park Tower, where units went for a median price of $6.5 million, and 55 W. 17th St., where the median was $2.6 million.

Read the full PropertyShark report here.

Noah Manskar contributed to this report.

An aerial view of the Financial District and Tribeca. (Photo by Drew Angerer/Getty Images)