The real estate market has its ups and downs. In November’s monthly price drop report, RealtyHop analyzed available data for October across boroughs and neighborhoods in New York City to provide a useful resource for those looking to invest in real estate.
We specifically focused on neighborhoods with the highest total number of price drops, specifically the highest price drops by median percentage, median dollar value, and by street address.
A Closer Look at NYC’s Neighborhoods
Our interactive map below depicts the neighborhoods we analyzed. All numbers are based on RealtyHop’s proprietary dataset.
Top 5 Neighborhoods With the Highest Number of Price Drops
| Neighborhood | Borough | Number of Price Drops | |
| 1 | Turtle Bay-East Midtown | Manhattan | 259 |
| 2 | Upper East Side-Carnegie Hill | Manhattan | 224 |
| 3 | Upper West Side | Manhattan | 184 |
| 4 | Lincoln Square | Manhattan | 183 |
| 5 | Hudson Yards-Chelsea-Flatiron-Union Square | Manhattan | 168 |
For the month of November, the top five neighborhoods with the most price drops are all located in Manhattan. Turtle Bay-East Midtown was the neighborhood who took first place this time around, with a total of 259 price drops, a significant increase in price drops compared to last month’s number one, Upper East-Carnegie Hill who had a total of 188 price drops throughout the neighborhood. Again, we are seeing a lot of the same neighborhoods in the top five this month as last month. The neighborhoods on the list had a total number of price drops ranging from 168 to 259 price drops.
Top 5 Neighborhoods With the Highest Median Percentage Price Drops
| Neighborhood | Borough | Median % Price Drops | |
| 1 | Williamsburg | Brooklyn | -13.3% (-$300,000) |
| 2 | Van Cortlandt | Bronx | -9.7% (-$62,000) |
| 3 | Claremont-Bathgate | Bronx | -9.5% (-$50,200) |
| 4 | Breezy Point-Belle Harbor-Rockaway Park-Broad Channel | Queens | -9.5% (-$45,000) |
| 5 | Crown Heights South | Brooklyn | -8.5% (-$88,000) |
Like last month, we saw that the neighborhood with the highest median percentage price drop was located in the Bronx. This time around, the neighborhood at the top is located in Brooklyn. The neighborhood with the highest median percentage price drop was Williamsburg, Brooklyn with a percentage price drop of 13.3% which equals a $300,000 drop in price. The highest median price drops on the list in terms of percentage ranged from 8.5% to 13.3%.
Top 5 Neighborhoods With the Highest Median Dollar Price Drops
| Neighborhood | Borough | Median $ Price Drops | |
| 1 | Williamsburg | Brooklyn | -$300,000 (-13.3%) |
| 2 | SoHo-TriBeCa-Civic Center-Little Italy | Manhattan | -$202,000 (-5.8%) |
| 3 | Upper East Side-Carnegie Hill | Manhattan | -$102,500 (-6.4%) |
| 4 | University Heights-Morris Heights | Bronx | -$100,000 (-8.3%) |
| 5 | Elmhurst-Maspeth | Queens | -$100,000 (-7.1%) |
Usually the borough of Manhattan dominates this top five list, but this time around we have a mix of neighborhoods that ended up in the top five list of neighborhoods with the heighest median dollar price drop in the past month. This month, we saw that Williamsburg, Brooklyn took the number one spot on this list, with a median dollar price drop of $300,000 (a 13.3% percentage drop in price). The remaining neighborhoods on the list was SoHo-TriBeCa-Civic Center-Little Italy, Manhattan in second with a $202,000 drop in price, Upper East Side-Carnegie Hill, Manhattan came in at third place with a $102,500 price drop, University Heights-Morris Heights, Bronx placed fourth with a $100,000 drop in price, and last but not least we have Elmhurst-Maspeth, Queens in fifth place with a $100,000 drop in price.
Top 5 Addresses (Still on the Market) with the Highest Percentage Price Drop in October
| Address | Current Price | Recent % Price Drops | |
| 1 | 465 Park Ave, Manhattan, NY 10022 | $1,950,000 | -34.9% (-$1,045,000) |
| 2 | 303 E 57th St, Manhattan, NY 10022 | $950,000 | -34.5% (-$500,000) |
| 3 | 100 W 57th St, Manhattan, NY 10019 | $299,000 | -33.6% (-$151,000) |
| 4 | 80 E 10th St, Manhattan, NY 10003 | $9,995,000 | -33.4% (-$5,005,000) |
| 5 | 30 E 31st St, Manhattan, NY 10016 | $1,325,000 | -32.9% (-$650,000) |
We are back to having the borough of Manhattan securing all the top five spots on the list of the top five addresses with the highest percentage price drop in the past 30 days that are still on the market. The address with the highest percentage price drop was located in Midtown East and it had a 34.9% price drop. That equals a $1,045,000 drop in price. All of the addresses on the top five list saw price cuts of 32.9% and up.
Top 5 Addresses (Still on the Market) with the Highest Dollar Price Drop in October
| Address | Current Price | Recent $ Price Drops | |
| 1 | 25 Columbus Cir, Manhattan, NY 10019 | $62,500,000 | -$12,5000,000 (-16.7%) |
| 2 | 80 E 10th St, Manhattan, NY 10003 | $9,995,000 | -$5,005,000 (-33.4%) |
| 3 | 625 Park Ave, Manhattan, NY 10065 | $27,500,000 | -$5,000,000 (-15.4%) |
| 4 | 240 Centre St, Manhattan, NY 10013 | $11,500,000 | -$3,400,000 (-22.8%) |
| 5 | 522 W 29th St, Manhattan, NY 10001 | $11,980,000 | -$3,120,000 (-20.7%) |
We see the same here as we saw for the last top five list, and that is that the borough of Manhattan yet again managed to secure all top five spots on the list of neighborhoods having the highest dollar price drops in October. This month, the top address was located in Hell’s Kitchen and it had a price drop of 12,500,000, which equals a price drop of 16.7% when looking at the percentage. The top addresses with the highest price drops in absolute dollar value ranged in price drops between 3.4M to 12.5M in October.
Full Dataset
The interactive table below includes all NYC listings with price drops in the month of October. You can sort by column or do a quick search using the search bar.
Methodology
The New York City Price Drop report is a monthly report that analyzes proprietary data from RealtyHop to map price drops for listings in New York City. The dataset analyzed is taken from the month prior to publication and includes all five boroughs of New York City, given sufficient data.
Want to know who owns these listings? Check it out for yourself on our site by using our New York Property Records Search.
