UWS ZIP Code Had Biggest 2021 Home Price Drop In Nation: Study

UPPER WEST SIDE, NY — A year after an Upper West Side ZIP code had the largest increase in home prices of any in the United States, the same local ZIP code had the greatest decrease in home values in 2021.

No ZIP code in the country saw a more significant decrease in its median home sale price during 2021 than the 10069 ZIP code on the UWS.

The staggering statistic was revealed in Property Shark's recently released study, "Most Expensive U.S. Zip Codes in 2021: 10 Areas Surpass $4 Million Median Sale Price."

The study from the real estate data website found that the median home sale price in the 10069 ZIP code dropped 39 percent in 2021. The median price in the area now sits at $1,663,000, which compares to the $2,725,000 it jumped to in 2020, according to Property Shark.

"Notably, this ZIP code was actually the leader of price growth in 2020, when its median shot up 42 percent year-over-year," authors of the Property Shark study wrote.

The UWS ZIP code is still the 93rd most expensive in the nation in 2021.

The 10069 ZIP code is the smallest out of the four ZIP codes that make up the Upper West Side.

It spans from West 59th Street to West 72nd Street on the west side of West End Avenue down through Riverside Park.

The significant increase from $1,920,000 in 2019 to its value of over $2.7 million in 2020 was fueled by luxury condo sales at a new development called Waterline Square at 675 West 59th Street.

The new Upper West Side luxury development was purchased in 2015 for an eye-catching $209,623,082, according to Property Shark.

Part of the reason that the median home sale price might have dropped so much in 2021 is the current lack of on-sale units at the Waterline Square complex after buyers snatched them up in previous years.

The 10069 ZIP code is maybe best known for a set of buildings known as the Trump Towers.

President Donald Trump bought the stretch of then abandoned rail yards near the Hudson River in 1985, and originally wanted to create a building complex called "Trump City," according to The New York Times.

That plan never fully came together, but six luxury apartment towers did go up between West 59th and 72nd Streets with the name "Trump" painted in gold onto the front.

After Trump was elected president in 2016, the tenants of those respective buildings decided to remove his name from all six of the buildings.

ILoveTheUpperWestSide was the first publication to report on the 10069 ZIP code's price drop.

Read More: UWS ZIP Code Has Biggest Jump In Home Prices In Entire Country