By SAM RAPPAPORT
Seven neighborhoods in Queens have been included in the real estate website Property Shark’s list of the top 50 most expensive places to live in New York City. Property Shark released the list this week after analyzing data from the first quarter of 2018.
Belle Harbor, a small community on the western edge of Queen’s Rockaway peninsula stands atop all other neighborhoods in the borough with a median sale price of $995,000. That’s a 29 percent increase from last year’s first quarter report, when the neighborhood’s median sale price stood at $770,000. Seven transactions were closed in Belle Harbor since the start of 2018. The neighborhood stands at number 27 in the list of 50 neighborhoods, most of which are in Manhattan and Brooklyn.
The Queensboro Hill neighborhood in Flushing sits at number 34 on the list. A total of 16 transactions were recorded in the area this quarter with a median sale price of $883,500. The area’s median sale price dropped 4 percent since this time last year.
Close behind Queensboro Hill, with a median sale price of $880,000, is the Queens neighborhood of Auburndale. A total of 31 transactions were recorded in the area since the outset of the year, and the community saw a 10 percent jump in median sale price from the first quarter of 2017. Auburndale ranks 35th overall among New York City’s most expensive neighborhoods.
The Hunters Point section of Long Island City experienced a 16 percent drop in median sale price since the first quarter of last year, yet the area is one of the city’s most actively traded real estate markets, with 111 properties having changed hands in the first quarter of 2018. The median sale price of the neighborhood is $817,475, down from $973,956 a year ago. Hunters Point is 39th on the list.
Similar to Hunters Point, the neighborhood of East Flushing saw its median sale price drop 16 percent since last year. The area’s median sale price now sits at $787,500, which makes the community the 42nd most expensive neighborhood in the five boroughs.
Fresh Meadows, with a median sale price of $773,000, lands at number 44 on the list. It was the second most active Queens real estate market on the list this quarter after Hunters Point, having logged 44 transactions.
At number 50, Middle Village just barely made the list. The area saw its median sale price increase 4 percent to $730,000.
The Manhattan neighborhood of Tribeca tops the list with a median sale price of $3,575,000, despite that number having dropped 30 percent since the first quarter of 2017. Soho comes in right behind Tribeca with a median sale price of $3,212,500. The two neighborhoods are regularly ranked the most expensive in the city.
For a full list of the city’s most expensive neighborhoods, visit propertyshark.com