Hudson Yards, which opened to the public within the past year, is the most expensive neighborhood in all of New York City, according to a new report.
"Hudson Yards has officially become the priciest neighborhood in New York City," reports Lizeth Beltran.
Beltran is sharing the findings of a new report by PropertyShark, and online real estate search and property information platform.
"The neighborhood in Manhattan took the top spot during the third quarter of 2019 by a significant margin, with a median sale price of $5 million— dethroning TriBeCa for the first time in seven quarters, which had a median sale price of $2.4 million," according to Beltran.
Beltran's coverage of the report includes a lot more details on the other expensive neighborhoods in New York City. As for why Hudson Yards has suddenly catapulted into the top spot, we'll have to look elsewhere. The incredibly expensive price tag for building the Hudson Yards development could explain some of the cost of now living and working there. There is also plenty of deliberately exclusionary tactics built into the development. There have also been reports of a growing number of wealthy people renting apartments while waiting for the price to buy to drop.
Read the full story: Hudson Yards becomes priciest neighborhood in the city
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