{"id":7594,"date":"2022-03-02T15:05:32","date_gmt":"2022-03-02T20:05:32","guid":{"rendered":"https:\/\/www.realtyhop.com\/blog\/?p=7594"},"modified":"2022-03-11T14:27:33","modified_gmt":"2022-03-11T19:27:33","slug":"price-drops-report-march-2022","status":"publish","type":"post","link":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/","title":{"rendered":"RealtyHop Price Drops Report: March 2022"},"content":{"rendered":"<div style=\"max-width: 900px; width: 100%; height: auto; margin-left: auto; margin-right: auto;\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-7356 aligncenter\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-featured-image-march-2022.png\" alt=\"\" width=\"700\" height=\"469\" \/><\/div>\n<p>The real estate market has its ups and downs. In this March edition of the NYC price drops report, RealtyHop analyzed available data for February 2022 across boroughs and neighborhoods in New York City to provide a useful resource for those looking to invest in real estate.<\/p>\n<p>We focused on neighborhoods with the greatest total number of price drops, specifically the highest price drops by median percentage, median dollar value, and street address.<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<h2><strong>A Closer Look at NYC&#8217;s Neighborhoods<\/strong><\/h2>\n<p>Our interactive map below depicts the neighborhoods we analyzed. All numbers are based on RealtyHop&#8217;s proprietary dataset.<\/p>\n<p><button onclick = \"embedPopup()\" button = \"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-map-march-2022.html\" class=\"button button1\" style=\"display: block; margin-left: auto; margin-right: 0px;\">Get the code to embed this map!<\/button><\/p>\n<div style=\"position: relative; overflow: hidden; width: 100%; max-width: 1000px; height: 680px; margin-left: auto; margin-right: auto; margin-bottom: 15px; border: 1px transparent #fffff; border-radius: 15px;\">\n<div style=\"padding-bottom: 68%; height: 0px; position: relative; width: 100%;\">\n<div style=\"position: absolute; height: 100%; width: 100%;\" align=\"center\"><iframe loading=\"lazy\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-map-march-2022.html\" width=\"100%\" height=\"100%\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><br \/>\n<\/iframe><\/div>\n<\/div>\n<\/div>\n<p><script>function embedPopup() {alert('<iframe loading=\"lazy\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-map-march-2022.html width=\"100%\" height=\"600px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><\/iframe>');}<\/script><\/p>\n<h2><\/h2>\n<h2><\/h2>\n<h2><strong>Top 5 Neighborhoods With the Highest Number of Price Drops<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 1068px; margin: 25px auto 25px auto; text-align: center;\">\n<table style=\"text-align: center; border-spacing: 0px; width: 100%;\">\n<tbody>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: normal; width: 5%; border: none; background-color: #51527c; border-left: 1px solid #51527c;\"><\/td>\n<td style=\"font-weight: bold; width: 45%; border: none; background-color: #51527c; color: #ffffff;\">Neighborhood<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff;\">Borough<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff; border-right: 1px solid #51527c;\">Number of Price Drops<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">Upper East Side-Carnegie Hill<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">160<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">Turtle Bay-East Midtown<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">137<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">3<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">Hudson Yards-Chelsea-Flatiron-Union Square<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">104<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">4<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">Lenox Hill-Roosevelt Island<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">92<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-bottom: 1px solid #51527c; border-left: 1px solid #51527c;\">5<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%; border-bottom: 1px solid #51527c;\">Lincoln Square<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c; border-right: 1px solid #51527c;\">88<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>As shown in the table above, all five neighborhoods with the most price drops in February were located in <a href=\"https:\/\/www.realtyhop.com\/for-sale\/manhattan-new-york-ny\">Manhattan<\/a>. Upper East Side-Carnegie Hill is again the #1 neighborhood with the most price reductions, with a total of 160 price drops in the past month. Meanwhile, Turtle Bay-East Midtown ranks the #2, with 137 price drops. The neighborhoods on the list had a total number of price drops ranging from 88-160 price drops, significantly on the lower end compared to last month&#8217;s report.<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Top 5 Neighborhoods With the Highest Median Percentage Price Drops<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 1068px; margin: 25px auto 25px auto; text-align: center;\">\n<table style=\"text-align: center; border-spacing: 0px; width: 100%;\">\n<tbody>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: normal; width: 5%; border: none; background-color: #51527c; border-left: 1px solid #51527c;\"><\/td>\n<td style=\"font-weight: bold; width: 45%; border: none; background-color: #51527c; color: #ffffff;\">Neighborhood<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff;\">Borough<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff; border-right: 1px solid #51527c;\">Median % Price Drops<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">Washington Heights South<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-7.1%(-$31,000)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">2<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">Bayside-Bayside Hills<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Queens<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-6.5% (-$50,000)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">3<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">Bensonhurst East<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Brooklyn<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-5.5% (-$77,500)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">4<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">Flatlands<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Brooklyn<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">\u00a0-5.3% (-$42,451)<\/td>\n<\/tr>\n<tr style=\"height: 40px15; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-bottom: 1px solid #51527c; border-left: 1px solid #51527c;\">5<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%; border-bottom: 1px solid #51527c;\">Upper East Side-Carnegie Hill<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c; border-right: 1px solid #51527c;\">-5.2% (-$100,000)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Percentage-wise, Washington Heights South saw the biggest price drops in February 2022, with a median percentage price drop of 7.1% or $31,000 from the original asking price. Meanwhile, for-sale homes in Bayside-Bayside Hills saw a median price drops of 6.5%, or $50,000 in dollar terms. All five neighborhoods had a median price change over 5%.<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Top 5 Neighborhoods With the Highest Median Dollar Price Drops<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 1068px; margin: 25px auto 25px auto; text-align: center;\">\n<table style=\"text-align: center; border-spacing: 0px; width: 100%;\">\n<tbody>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: normal; width: 5%; border: none; background-color: #51527c; border-left: 1px solid #51527c;\"><\/td>\n<td style=\"font-weight: bold; width: 45%; border: none; background-color: #51527c; color: #ffffff;\">Neighborhood<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff;\">Borough<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff; border-right: 1px solid #51527c;\">Median $ Price Drops<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">SoHo-TriBeCa-Civic Center-Little Italy<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$122,000 (-3.9%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">Upper East Side-Carnegie Hill<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$100,000 (-5.2%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">3<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">Hudson Yards-Chelsea-Flatiron-Union Square<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$100,000 (-4.7%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">4<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\">West Village<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">Brooklyn<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$100,000 (-4.3%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-bottom: 1px solid #51527c; border-left: 1px solid #51527c;\">5<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%; border-bottom: 1px solid #51527c;\">Lincoln Square<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c;\">Manhattan<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c; border-right: 1px solid #51527c;\">-$98,000 (-4.3%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>All five neighborhoods with the highest median dollar price drops in February are all located in Manhattan.\u00a0SoHo-TriBeCa-Civic Center-Little Italy ranks the #1, with a median price drop of $122,000. But given the high real estate values in the neighborhood, that only accounts for 3.9% of the initial asking price. Meanwhile, for-sale listings in West Village saw a median price drop of $100,000, or 4.3% of the original asking price this past month.<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Top 5 Residential Properties (Still on the Market) with the Highest Percentage Price Drop in February<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 1068px; margin: 25px auto 25px auto; text-align: center;\">\n<table style=\"text-align: center; border-spacing: 0px; width: 100%;\">\n<tbody>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: normal; width: 5%; border: none; background-color: #51527c; border-left: 1px solid #51527c;\"><\/td>\n<td style=\"font-weight: bold; width: 45%; border: none; background-color: #51527c; color: #ffffff;\">Address<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff;\">Current Price<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff; border-right: 1px solid #51527c;\">Recent % Price Drops<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/578-ralph-ave-brooklyn-ny-11233\/c4\/16679065\">578 Ralph Avenue #C4, Brooklyn, NY 11233<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$150,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-57.1%(-$200,000)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">2<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/531-east-26th-st-brooklyn-ny-11210\/house\/17495723\">531 East 26th Street, Brooklyn, NY 11210<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$499,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-41.2% (-$350,000)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">3<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/992-lenox-road-brooklyn-ny-11212\/house\/17068327\">992 Lenox Road, Brooklyn, NY 11212<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$650,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-35.0% (-$350,000)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">4<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/60-pineapple-st-brooklyn-ny-11201\/b\/15350453\">60 Pineapple Street #B, Brooklyn, NY 11201<\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$1,350,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-30.8% (-$600,000<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-bottom: 1px solid #51527c; border-left: 1px solid #51527c;\">5<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%; border-bottom: 1px solid #51527c;\"><a href=\"https:\/\/www.realtyhop.com\/building\/3614-johnson-ave-new-york-city-ny-10463\/6fl\/17169535\">3614 Johnson Avenue #6FL, Bronx, NY 10463 <\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c;\">$1,000,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c; border-right: 1px solid #51527c;\">-29.8% (-$425,000)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>The table above highlights the properties with the highest percentage price drop in the past month that are still on the market. Unit B at 60 Pineapple Street in Brooklyn Heights is a beautifully decorated co-op unit spanning over 2,000 sqft. The unit first hit the market in July 2021, asking close to $2M. On February 22, the price was reduced by 30.8% to $1.35M. Meanwhile, unit 6FL at 3614 Johnson Avenue is truly one of a kind. The condo unit comes with 2,000 sqft of living space, two outdoor terraces, and one parking spot. It was first listed in September 2021 for $1.425M. The seller has since dropped the price to $1M, which translates to a price reduction of 29.8%.\u00a0<span style=\"font-family: Verdana, BlinkMacSystemFont, -apple-system, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;\">All properties on the list experienced a price cut of 30% or above.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Top 5 Residential Properties (Still on the Market) with the Highest Dollar Price Drop in\u00a0<\/strong><strong>February<\/strong><\/h2>\n<div style=\"width: 100%; max-width: 1068px; margin: 25px auto 25px auto; text-align: center;\">\n<table style=\"text-align: center; border-spacing: 0px; width: 100%;\">\n<tbody>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: normal; width: 5%; border: none; background-color: #51527c; border-left: 1px solid #51527c;\"><\/td>\n<td style=\"font-weight: bold; width: 45%; border: none; background-color: #51527c; color: #ffffff;\">Address<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff;\">Current Price<\/td>\n<td style=\"font-weight: bold; width: 25%; border: none; background-color: #51527c; color: #ffffff; border-right: 1px solid #51527c;\">Recent $ Price Drops<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">1<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/991-5th-ave-new-york-city-ny-10028\/house\/13403394\">991 5th Avenue, New York, NY 10028 <\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$44,000,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$8,000,000(-15.4%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">2<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/111-central-park-n-new-york-city-ny-10024\/phb\/15092984\">111 Central Park West #PHB, New York, NY 10023 <\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$16,950,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$2,550,000(-13.1%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">3<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/217-w-57th-st-new-york-city-ny-10019\/83e\/17169297\">217 West 57th Street #83E, New York, NY 10019 <\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$31,950,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$2,020,000(-5.9%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-left: 1px solid #51527c;\">4<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%;\"><a href=\"https:\/\/www.realtyhop.com\/building\/38-w-11th-st-new-york-city-ny-10011\/twnhse\/15905595\">38 West 11th Street #TWNHSE, New York, NY 10011 <\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%;\">$14,500,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-right: 1px solid #51527c;\">-$2,000,000(-12.1%)<\/td>\n<\/tr>\n<tr style=\"height: 40px; vertical-align: middle;\">\n<td style=\"font-weight: bold; padding: auto; width: 5%; border-bottom: 1px solid #51527c; border-left: 1px solid #51527c;\">5<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 45%; border-bottom: 1px solid #51527c;\"><a href=\"https:\/\/www.realtyhop.com\/building\/1185-park-ave-new-york-city-ny-10128\/1617f\/17573615\">1185 Park Avenue #1617F, New York, NY 10128 <\/a><\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c;\">$17,500,000<\/td>\n<td style=\"font-weight: normal; padding: auto; width: 25%; border-bottom: 1px solid #51527c; border-right: 1px solid #51527c;\">-$2,000,000(-10.3%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>The table above highlights residential properties that saw the most drastic price cuts in dollar terms this past February. 991 Fifth Avenue, one of the last Gilded Age mansions on Fifth Avenue first hit the market late January, asking $52M. But the list price soon was reduced by $8M to $44M on February 5. Unit 83E at 217 West 57th Street features four bedrooms, four and half bathrooms, and breathtaking views of Central Park and the Manhattan skyline. The unit was first listed in December 2021 with a price tag of $33.97M. That amount has since dropped to $31.95M, a 5.9% discount.\u00a0All properties on the list had a price drop of $2M and above.<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Full Dataset<\/strong><\/h2>\n<p>The interactive table below includes all NYC listings with price drops in the month of February. You can sort by column or do a quick search using the search bar.<\/p>\n<div style=\"max-width: 1068px; width: 100%; height: auto;\"><iframe loading=\"lazy\" style=\"sroll: hidden;\" src=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-full-data-march-2022.html\" width=\"100%\" height=\"760\" frameborder=\"0\" data-mce-fragment=\"1\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><\/iframe><\/div>\n<p>&nbsp;<\/p>\n<h2><strong>Methodology<\/strong><\/h2>\n<p>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. It includes listings that experienced price changes the month prior to publications in all five boroughs of New York City.<\/p>\n<h4><strong>Methodology Change<\/strong><\/h4>\n<p>To fairly analyze each neighborhood and eliminate outliers, starting August 2021, only neighborhoods with over 10 price drops will be included in the rankings for the highest median percentage price drops and highest median dollar price drops sections.<\/p>\n<p>Want to know who owns these listings? Check it out by using our <a href=\"https:\/\/www.realtyhop.com\/property-records\/search\">New York Property Records Search<\/a>.<\/p>\n<style>\n.button1 {box-shadow: 0 0 0 0 rgba(0,0,0,0.2), 0 0 0 0 rgba(0,0,0,0.19);}.button { background-color: #51527c; border: none; color: #ffffff; padding: 5px 15px; border-radius: 4px; text-align: center; text-decoration: none; display: inline-block; font-size: 15px; font-weight: bold; margin:4px 2px; cursor: pointer; -webkit-transition-duration: 0.4s; transition-duration: 0.4s;}<\/style>\n","protected":false},"excerpt":{"rendered":"<p>The real estate market has its ups and downs. In this March edition of the NYC price drops report, RealtyHop analyzed available data for February 2022 across boroughs and neighborhoods in New York City to provide a useful resource for those looking to invest in real estate. We focused on neighborhoods with the greatest total [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":7600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-7594","post","type-post","status-publish","format-standard","has-post-thumbnail","category-market-trends-and-research"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RealtyHop Price Drops Report: March 2022 - RealtyHop Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RealtyHop Price Drops Report: March 2022 - RealtyHop Blog\" \/>\n<meta property=\"og:description\" content=\"The real estate market has its ups and downs. In this March edition of the NYC price drops report, RealtyHop analyzed available data for February 2022 across boroughs and neighborhoods in New York City to provide a useful resource for those looking to invest in real estate. We focused on neighborhoods with the greatest total [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"RealtyHop Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-02T20:05:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-11T19:27:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-featured-image-march-2022.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1172\" \/>\n\t<meta property=\"og:image:height\" content=\"785\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Shane Lee\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shane Lee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/\"},\"author\":{\"name\":\"Shane Lee\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/#\\\/schema\\\/person\\\/8cce324bd04987aa7dbe03a4a2a3eeee\"},\"headline\":\"RealtyHop Price Drops Report: March 2022\",\"datePublished\":\"2022-03-02T20:05:32+00:00\",\"dateModified\":\"2022-03-11T19:27:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/\"},\"wordCount\":917,\"image\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/nyc-price-drops-featured-image-march-2022.png\",\"articleSection\":[\"Market Trends &amp; Research\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/\",\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/\",\"name\":\"RealtyHop Price Drops Report: March 2022 - RealtyHop Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/nyc-price-drops-featured-image-march-2022.png\",\"datePublished\":\"2022-03-02T20:05:32+00:00\",\"dateModified\":\"2022-03-11T19:27:33+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/#\\\/schema\\\/person\\\/8cce324bd04987aa7dbe03a4a2a3eeee\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/nyc-price-drops-featured-image-march-2022.png\",\"contentUrl\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/nyc-price-drops-featured-image-march-2022.png\",\"width\":1172,\"height\":785},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/price-drops-report-march-2022\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RealtyHop Price Drops Report: March 2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/\",\"name\":\"RealtyHop Blog\",\"description\":\"RealtyHop\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/#\\\/schema\\\/person\\\/8cce324bd04987aa7dbe03a4a2a3eeee\",\"name\":\"Shane Lee\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g\",\"caption\":\"Shane Lee\"},\"url\":\"https:\\\/\\\/www.realtyhop.com\\\/blog\\\/author\\\/alsoshane\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"RealtyHop Price Drops Report: March 2022 - RealtyHop Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/","og_locale":"en_US","og_type":"article","og_title":"RealtyHop Price Drops Report: March 2022 - RealtyHop Blog","og_description":"The real estate market has its ups and downs. In this March edition of the NYC price drops report, RealtyHop analyzed available data for February 2022 across boroughs and neighborhoods in New York City to provide a useful resource for those looking to invest in real estate. We focused on neighborhoods with the greatest total [&hellip;]","og_url":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/","og_site_name":"RealtyHop Blog","article_published_time":"2022-03-02T20:05:32+00:00","article_modified_time":"2022-03-11T19:27:33+00:00","og_image":[{"width":1172,"height":785,"url":"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-featured-image-march-2022.png","type":"image\/png"}],"author":"Shane Lee","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Shane Lee","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/#article","isPartOf":{"@id":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/"},"author":{"name":"Shane Lee","@id":"https:\/\/www.realtyhop.com\/blog\/#\/schema\/person\/8cce324bd04987aa7dbe03a4a2a3eeee"},"headline":"RealtyHop Price Drops Report: March 2022","datePublished":"2022-03-02T20:05:32+00:00","dateModified":"2022-03-11T19:27:33+00:00","mainEntityOfPage":{"@id":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/"},"wordCount":917,"image":{"@id":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-featured-image-march-2022.png","articleSection":["Market Trends &amp; Research"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/","url":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/","name":"RealtyHop Price Drops Report: March 2022 - RealtyHop Blog","isPartOf":{"@id":"https:\/\/www.realtyhop.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/#primaryimage"},"image":{"@id":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-featured-image-march-2022.png","datePublished":"2022-03-02T20:05:32+00:00","dateModified":"2022-03-11T19:27:33+00:00","author":{"@id":"https:\/\/www.realtyhop.com\/blog\/#\/schema\/person\/8cce324bd04987aa7dbe03a4a2a3eeee"},"breadcrumb":{"@id":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/#primaryimage","url":"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-featured-image-march-2022.png","contentUrl":"https:\/\/www.realtyhop.com\/blog\/wp-content\/uploads\/2022\/03\/nyc-price-drops-featured-image-march-2022.png","width":1172,"height":785},{"@type":"BreadcrumbList","@id":"https:\/\/www.realtyhop.com\/blog\/price-drops-report-march-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.realtyhop.com\/blog\/"},{"@type":"ListItem","position":2,"name":"RealtyHop Price Drops Report: March 2022"}]},{"@type":"WebSite","@id":"https:\/\/www.realtyhop.com\/blog\/#website","url":"https:\/\/www.realtyhop.com\/blog\/","name":"RealtyHop Blog","description":"RealtyHop","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.realtyhop.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.realtyhop.com\/blog\/#\/schema\/person\/8cce324bd04987aa7dbe03a4a2a3eeee","name":"Shane Lee","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/5dd9186563dda776dd081f8cfc7a8a67f6e878198225fc4a9cb6a59036bd7169?s=96&d=mm&r=g","caption":"Shane Lee"},"url":"https:\/\/www.realtyhop.com\/blog\/author\/alsoshane\/"}]}},"modified_by":"Shane Lee","_links":{"self":[{"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/posts\/7594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/comments?post=7594"}],"version-history":[{"count":5,"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/posts\/7594\/revisions"}],"predecessor-version":[{"id":7671,"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/posts\/7594\/revisions\/7671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/media\/7600"}],"wp:attachment":[{"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/media?parent=7594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/categories?post=7594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realtyhop.com\/blog\/wp-json\/wp\/v2\/tags?post=7594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}