Prices are up in the Boogie Down — and in one area, they’re way up.
That’s according to real-estate data provider PropertyShark, whose recently released first-quarter 2023 “Top 50 Most Expensive NYC Neighborhoods” study not only notes The Bronx has made a “historic” first entry into the roundup, but that its Fieldston section has seem a notable climb.
There, homeowners have watched their median property value jump a staggering 149% year-over-year, an anomaly as the city’s overall median sale price trended down (by $58,000 year-over-year), PropertyShark noted. Specifically, median home sale prices in Fieldston soared from $338,000 in the first quarter of 2022 to a whopping $840,000 in the same time frame this year.
“With that surge, Fieldston (and The Bronx) claimed the sharpest price increase among the city’s leading neighborhoods,” the report noted.
That said, Fieldston jumped 99 positions up on the list — from No. 140 to No. 41 priciest neighborhood.
The reason: The report notes it’s due to the type of sales. In 2022’s first quarter, 87% of sales were for co-op units and only 7% were for pricier single-family homes. This year, single-family home sales accounted for 54% of deals and co-ops 46%. Overall, however, The Bronx’s rate of homeownership is a low 20%.
As for Fieldston itself, it’s quite small.
Fieldston is “in the city yet not of it,” the New York Herald noted in 1922 of the community, which was developed in the early 20th century and today counts some 257 structures within its 140 acres, according to Brownstoner.
Fieldston, a private, historically designated community within affluent Riverdale, is located on the last gasp of land before The Bronx formally gives way to the Westchester suburbs.
The Bronx wasn’t the only outer borough to have a significant first this quarter: Vinegar Hill ranked third most expensive neighborhood in the city, the first Brooklyn nabe to make the top three.
To earn the silver, it beat out Soho, which had a $2.2 million median sale price compared to Vinegar Hill’s $2.6 million.
In first place came Hudson Yards, with an eye-watering $5.72 million median sale price — and in second came Tribeca, with $3.5 million.
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