According to real estate site PropertyShark, Malba is the most expensive neighborhood in Queens and 25th in New York City. With a median sale price of $1,083,750, the north Queens neighborhood boasting palatial homes moved up three positions from last year.
Another waterfront community, the western Queens neighborhood of Hunters Point ranked close behind at No. 28. The area saw a 13 percent year-over-year price growth, with homes reaching a median sale price of $1,061,382 in 2017. A healthy 178 recorded transactions were recorded for the year.
The following Queens neighborhoods also made the top 50 most expensive in the city:
- No. 38 (tie): Queensboro Hill and Neponsit, $900,000 median sale price
- No. 43: Ditmars-Steinway, $865,000
- No. 45: Belle Harbor, $840,260
- No. 49 (tie): East Flushing and Fresh Meadows, $810,000
In the 2016 report, the real estate site said Forest Hills Gardens was the most expensive in Queens, coming in at No. 10 on the citywide list. In this year’s study, it was noted that Forest Hills Gardens was incorporated into Forest Hills. The neighborhood did not appear on the top 50 this year.
The top slots on PropertyShark’s list were dominated by Manhattan and Brooklyn locales. However Queens “continues to show promise,” with two neighborhoods surpassing the $1 million mark.
The median sale prices were calculated based on residential property sales closed between Jan. 1 and Dec. 6. The residential properties included are single-family homes, condos and co-ops.
View the full report here.