The real estate market has its ups and downs. In October’s monthly price drop report, RealtyHop analyzed available data for September 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 | Upper East Side-Carnegie Hill | Manhattan | 188 |
| 2 | Turtle Bay-East Midtown | Manhattan | 180 |
| 3 | Hudson Yards-Chelsea-Flatiron-Union Square | Manhattan | 157 |
| 4 | Lincoln Square | Manhattan | 151 |
| 5 | Upper West Side | Manhattan | 150 |
For the month of October, we’re seeing similar neighborhoods listed in the top five neighborhoods with the most price drops, just a little change in the rankings. Upper East Side-Carnegie Hill was the neighborhood with the most price drops in the past month, with a total of 188 price drops. In September, the neighborhood didn’t make the list. Turtle Bay-East Midtown had a total of 180 price drops (148 price drops in September) and Hudson Yards-Chelsea-Flatiron-Union Square had a total of 157 price drops (108 price drops in September). Lincoln Square didn’t make the list last month, but ended up in 4th place with a total on 151 price drops, just 1 price drop more than Upper West Side who had a total of 150 price drops. In September, Upper West Side had the most price drops in NYC with a total of 159 price drops. The neighborhoods on the list had a total number of price drops ranging from 150 to 188 price drops.
Top 5 Neighborhoods With the Highest Median Percentage Price Drops
| Neighborhood | Borough | Median % Price Drops | |
| 1 | Norwood | Bronx | -39.6% (-$78,800) |
| 2 | Bedford Park-Fordham North | Bronx | -10.3% (-$34,333) |
| 3 | Steinway | Queens | -10.1% (-$101,000) |
| 4 | Melrose South-Mott Haven North | Bronx | -9.6% (-$96,000) |
| 5 | Claremont-Bathgate | Bronx | -8.4% (-$200,000) |
Last month the neighborhood with the highest median percentage price drop was Brownsville, Brooklyn, with a median percentage price drop of 10.4%. This time around Norwood, Bronx took the number one spot on this list, with a significantly higher median percentage price drop, 39.6%. That equals a $78,800 drop in price. The highest median price drops on the list in terms of percentage ranged from 8.4% to 39.6%.
Top 5 Neighborhoods With the Highest Median Dollar Price Drops
| Neighborhood | Borough | Median $ Price Drops | |
| 1 | Claremont-Bathgate | Bronx | -$200,000 (-8.4%) |
| 2 | SoHo-TriBeCa-Civic Center-Little Italy | Manhattan | -$180,000 (-5.3%) |
| 3 | Upper East Side | Manhattan | -$117,000 (-5.7%) |
| 4 | Steinway | Queens | -$101,000 (-10.1%) |
| 5 | Chinatown | Manhattan | -$100,000 (-5.0%) |
We’ve seen in the past couple of months, that Manhattan is usually the borough that ends up in the top spot on this list. However, last month and this month that is not the case. While it was the borough of Queens that took the number one spot on the list last month, this time around it is the borough of Bronx ranking as number 1. In September, Claremont-Bathgate, Bronx was the neighborhood with the highest median dollar price drop, with a median price drop of $200,000 (a 8.4% percentage drop in price).
Top 5 Addresses (Still on the Market) with the Highest Percentage Price Drop in September
| Address | Current Price | Recent % Price Drops | |
| 1 | 100 W 57th St, Manhattan, NY 10019 | $219,000 | -43.7% (-$170,000) |
| 2 | 123 Washington St, Manhattan, NY 10006 | $995,000 | -38.8% (-$630,000) |
| 3 | 35 Hudson Yards, Manhattan, NY 10001 | $4,250,000 | -26.4% (-$1,525,000) |
| 4 | 398 Oliver Place, Bronx, NY 10458 | $115,000 | -23.3% (-$34,900) |
| 5 | 125 E 63rd St, Manhattan, NY 10065 | $995,000 | -23.2% (-$300,000) |
This month, the borough of Manhattan secured 4 out of the 5 spots on the list of the highest percentage price drops. The address with the highest percentage price drop was located in the Theater District and it had a 43.7% price drop. That equals a $170,000 drop in price. Bronx made the 4th place on the list, with an address in Bedford Park, which had a 23.3% price drop. All of the addresses on the top 5 list saw price cuts of 23.2% and up.
Top 5 Addresses (Still on the Market) with the Highest Dollar Price Drop in September
| Address | Current Price | Recent $ Price Drops | |
| 1 | 50 Central Park S, Manhattan, NY 10019 | $24,500,000 | -$5,000,000 (-16.9%) |
| 2 | 1 Central Park S, Manhattan, NY 10019 | $16,500,000 | -$3,000,000 (-15.4%) |
| 3 | 21 E 61st St, Manhattan, NY 10065 | $15,450,000 | -$2,100,000 (-12.0%) |
| 4 | 15 W 63rd St, Manhattan, NY 10023 | $9,995,000 | -$1,995,000 (-16.6%) |
| 5 | 519 Broadway, Manhattan, NY 10012 | $6,900,000 | -$1,600,000 (-18.8%) |
Yet again, the borough of Manhattan manages to secure all 5 top spots on the list of neighborhoods having the highest dollar price drops in September, just like for August and several other prior months. This month, the top address was located in Midtown East and it had a price drop of $5,000,000, which equals a price drop of 16.9%. The top addresses with the highest price drops in absolute dollar value ranged in price drops between $1.6M to $5M in September.
Full Dataset
The interactive table below includes all NYC listings with price drops in the month of September. 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.
