---
title: "Manhattan Neighborhood Comparison 2026: Side-by-Side Data"
description: "Fourteen Manhattan submarkets ranked on closed sales: price per foot, negotiating room, co-op share and closing costs. Plus six head-to-head guides."
url: "https://realestaterebatesnewyork.com/guides/manhattan-neighborhood-comparison"
source: "Real Estate Rebate Team"
datePublished: "2026-04-04"
dateModified: "2026-09-11T16:25:04.659Z"
---

# Manhattan Neighborhood Comparison 2026

Neighborhoods · By Régis Roumila · April 4, 2026

Fourteen submarkets ranked on what actually closed, and six head-to-head comparisons for the pairs buyers really choose between.

![A prewar two-bedroom at 25 Fifth Avenue in Greenwich Village, the submarket that led all fourteen on price per interior foot. Listing image courtesy of Compass through REBNY RLS.](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/4585a8b2-a09d-4d92-88ed-31663f060889.jpg)

*A prewar two-bedroom at 25 Fifth Avenue in Greenwich Village, the submarket that led all fourteen on price per interior foot. Listing image courtesy of Compass through REBNY RLS.*

## Start with the thing you are least willing to give up

Every Manhattan neighborhood guide tells you Tribeca has cobblestones and the Upper East Side has private schools. That is a description, not a comparison, and it will not help you decide where to put three million dollars.

So this page is built the other way round. Below is the answer first, then the closed sales behind it: 1,222 two-bedroom condominium closings and 1,360 two-bedroom co-op closings across fourteen submarkets, over the two years to June 2026. Bedroom count is held fixed on purpose, because a neighborhood median that mixes studios with penthouses measures the housing stock rather than the price.

- Most interior space per dollar. The Financial District at $1,288 a foot, Yorkville at $1,325, Carnegie Hill at $1,413. Tribeca belongs on this list too at $1,853, which is cheaper than Chelsea and surprises people.

- Most room to negotiate. The Financial District, where 94.7 percent of closings finished below the asking price, then Tribeca at 87.5 and Flatiron at 85.4. Avoid Greenwich Village, where the median seller got the full ask in 36 days.

- Lowest entry price anywhere. Buy a co-op. The size-matched discount runs from 8.7 percent in Carnegie Hill to 46.1 percent in the Financial District, which is wider than the gap between most pairs of neighborhoods.

- Least cash at the closing table. Stay under $2,000,000 and the mansion tax is 1 percent while the Buyer Advantage ceiling is 1.5. Five of these fourteen submarkets have medians below that line.

Three findings from the data contradict what almost every other Manhattan comparison says, including the earlier version of this page, which I wrote. Tribeca is not the most expensive neighborhood per square foot and does not make the top five. In Greenwich Village, the West Village and most of the Upper East Side the majority of two-bedrooms that trade are co-ops. And the neighborhood you choose decides whether the rebate covers your mansion tax or not.

Source: RLS closings matched to our sales record, cohorts windowed August 2024 to June 2026, cross-checked against the City's own sales file where the two overlap. Each table below carries its own sample counts.

### Four buyers, four different shortlists

Which of these is the constraint you cannot move?

- **Interior space per dollar** — You want the largest apartment your budget will carry and you are relaxed about the address.
  The Financial District, Yorkville and Carnegie Hill: These three closed two-bedroom condominiums at $1,288, $1,325 and $1,413 per interior foot. Against Greenwich Village at $2,885 the same budget buys roughly twice the area. Tribeca is the surprise entry at $1,853, cheaper per foot than Chelsea.
- **Room to negotiate** — You expect to buy under the asking price and you can wait for the right one.
  The Financial District, Tribeca and Flatiron: 94.7, 87.5 and 85.4 percent of two-bedroom condominium closings in those three finished below ask. Avoid Greenwich Village and Carnegie Hill, where the median closing took 100.0 and 97.5 percent of ask and cleared in 36 days.
- **The lowest entry price** — Purchase price is the binding constraint and you are open on the building's structure.
  The co-op question is worth more than the neighborhood question (Review required): The size-matched co-op discount ran from 8.7 percent in Carnegie Hill to 46.1 percent in the Financial District, with Chelsea at 42.5. In exchange you take board approval, a financing cap and sublet rules, and those terms usually appear only in the listing text.
  [Read the condo versus co-op guide](https://realestaterebatesnewyork.com/guides/condo-vs-coop-nyc)
- **Cash at the closing table** — You are solving for how much liquid cash the purchase consumes on day one.
  Stay under $2,000,000 and the rebate outruns the mansion tax: At Yorkville's median of $1,595,000 the mansion tax is $15,950 and the Buyer Advantage ceiling is $23,925. At Tribeca's $3,175,000 both are $47,625. The bands step at $2,000,000, $3,000,000 and $5,000,000 and apply to the entire price.
  [See the mansion tax bands](https://realestaterebatesnewyork.com/guides/nyc-mansion-tax-guide-2026)

**Nobody optimises for all four. Naming the one that binds narrows fourteen submarkets to three in about a minute.**

## Six head-to-head comparisons

Nobody chooses between fourteen neighborhoods. They choose between two. These are the pairs that come up most, each worked through on price per foot by bedroom count, the co-op split, negotiating room and what the closing table looks like.

- Tribeca vs the West Village. Identical $3,175,000 median two-bedroom. The West Village is 45 percent dearer per foot.

- Upper East Side vs Upper West Side. Medians 0.8 percent apart. The per-foot ranking flips at four bedrooms.

- SoHo vs Tribeca. SoHo is dearer per foot at two, three and four bedrooms. The reputation has it backwards.

- Chelsea vs the Financial District. 53 percent more per foot in Chelsea. 94.7 percent of downtown closings finished below ask.

- Greenwich Village vs the West Village. One closed at the full asking price in 36 days. The other took 78.

- Lenox Hill vs Yorkville. A 22 percent per-foot gap inside one neighborhood name, and the cheaper side is faster.

If the pair you want is not here, tell me which two and I will run it.

### Price per interior foot, two-bedroom condominiums

Median closed price per interior square foot, two bedrooms only. Tribeca sits sixth.

| Category | Median closed price per interior square foot |
| --- | --- |
| Greenwich Village | $2,885 |
| West Village | $2,690 |
| SoHo | $2,151 |
| Hudson Yards | $2,133 |
| Chelsea | $1,968 |
| Tribeca | $1,853 |
| Flatiron | $1,798 |
| Lincoln Square | $1,648 |
| Lenox Hill | $1,616 |
| Upper West Side | $1,616 |
| Upper East Side | $1,518 |
| Carnegie Hill | $1,413 |
| Yorkville | $1,325 |
| Financial District | $1,288 |

**Greenwich Village and the West Village clear $2,600 a foot. Tribeca closes at $1,853, below Chelsea and 36 percent under Greenwich Village. Tribeca's reputation rests on the size of its apartments, not on their unit price.**

*Source: REBNY RLS closings matched to our sales record — Each bar is the median of the closings with a recorded interior area, between 21 and 176 sales per submarket. The City's own sales file carries no square footage on any of the 10,805 Manhattan condominium apartment sales it published from August 2024, so no per-foot median can be computed from it.*

### What a two-bedroom condominium actually closed at

Ranked by price per interior foot. Sales is the cohort size; With area is the number of those sales carrying a recorded interior square footage, which is the sample behind the per-foot column.

| Submarket | Per interior foot | Median close | Sales | With area |
| --- | --- | --- | --- | --- |
| Greenwich Village | $2,885 | $3,342,956 | 39 | 39 |
| West Village | $2,690 | $3,175,000 | 39 | 37 |
| SoHo | $2,151 | $3,650,000 | 33 | 33 |
| Hudson Yards | $2,133 | $3,450,000 | 21 | 21 |
| Chelsea | $1,968 | $2,700,000 | 177 | 176 |
| Tribeca | $1,853 | $3,175,000 | 117 | 117 |
| Flatiron | $1,798 | $2,660,000 | 47 | 45 |
| Lincoln Square | $1,648 | $2,133,234 | 147 | 144 |
| Lenox Hill | $1,616 | $2,325,000 | 159 | 154 |
| Upper West Side | $1,616 | $1,934,250 | 148 | 142 |
| Upper East Side | $1,518 | $1,918,750 | 78 | 76 |
| Carnegie Hill | $1,413 | $1,887,500 | 24 | 22 |
| Yorkville | $1,325 | $1,595,000 | 51 | 51 |
| Financial District | $1,288 | $1,717,500 | 142 | 140 |

**Tribeca and the West Village share an identical median close of $3,175,000 and are $837 a foot apart. Same cheque, materially different apartment.**

*Source: REBNY RLS closings matched to our sales record — Cohorts window from mid-August 2024 to late June 2026. Medians are of closed prices, not asks. Carnegie Hill and Hudson Yards are the thinnest cohorts here at 24 and 21 sales; read those two rows as indicative.*

### Two neighborhoods, one price, and 45 percent between them

Both produced a median two-bedroom condominium close of exactly $3,175,000 over the same window. The per-foot figures are nowhere near each other.

- **Tribeca — $1,853 per interior foot**: 117 two-bedroom condominium closings, median close $3,175,000.
  Sellers took 94.3 percent of ask at the median, and 87.5 percent of the closings went below ask.
- **West Village — $2,690 per interior foot**: 39 two-bedroom condominium closings, median close $3,175,000.
  Sellers took 97.3 percent of ask at the median, and 60.6 percent of the closings went below ask.
- **What the same cheque buys — 45 percent more per foot in the West Village** (Result): The Tribeca buyer is paying for area, the West Village buyer for address. Neither is wrong, but they are different purchases and the headline price hides that completely.
  Worked through in full, including the co-op split and the four-bedroom gap, in the Tribeca versus West Village comparison linked above.

**If you are shortlisting on price alone, these two look interchangeable. On the tape they are not remotely alike.**

*Source: REBNY RLS closings matched to our sales record*

## In half of Manhattan the apartment that actually trades is a co-op

![Living room of a prewar co-op at 32 Morton Street in the West Village, with steel casement windows facing red brick townhouses](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/b860286d-4f4c-49eb-a4cf-26567484358f.jpg)

*32 Morton Street, a 1,600 square foot West Village co-op asking $3,200,000. Sixty-one percent of the two-bedrooms that closed in this neighborhood were co-ops. Listing image courtesy of Serhant through REBNY RLS.*

Portals quote condominium prices because condominium listings are what they carry most cleanly. In large parts of Manhattan that is a minority report.

Of the two-bedroom closings in Greenwich Village, 74.5 percent were co-ops. In the West Village, 61.0 percent. On the Upper East Side proper, 71.9 percent, and in Carnegie Hill, 75.0 percent. Run the other way and the Financial District is 12.9 percent co-op and Tribeca 13.3 percent.

I did not want to publish that off our own records alone, so I checked it against the City. The Department of Finance publishes every recorded Manhattan sale with a building class attached, and for the seventeen months where its file overlaps our window it puts Greenwich Village at 76.7 percent co-op, the West Village at 64.5 percent, the Upper East Side between 59th and 79th at 66.3 percent, Tribeca at 16.7 percent and the Financial District at 5.9 percent. Different geography, different method, no bedroom filter, same answer.

This matters because the two markets are not priced alike, and the gap is far wider than the gap between neighborhoods.

Source: co-op share computed on the matched RLS deed and co-op cohorts, two-bedroom only; a small unclassified ownership bucket is excluded from both sides. City figures from the NYC Department of Finance citywide annualized sales file, Manhattan, 1 August 2024 to 31 December 2025, elevator condominium and elevator co-op classes, sales over $250,000.

### The co-op discount is bigger than the neighborhood premium

Two-bedroom closings only, so the comparison is size-matched. Co-op share is that submarket's co-op closings as a percentage of its co-op and condominium closings combined.

| Submarket | Condo median | Co-op median | Co-op discount | Co-op share | Co-op sales |
| --- | --- | --- | --- | --- | --- |
| Carnegie Hill | $1,887,500 | $1,722,500 | 8.7% | 75% | 72 |
| Greenwich Village | $3,342,956 | $1,982,500 | 40.7% | 74.5% | 114 |
| Upper East Side | $1,918,750 | $1,350,000 | 29.6% | 71.9% | 200 |
| Yorkville | $1,595,000 | $1,275,000 | 20.1% | 68.9% | 113 |
| Lenox Hill | $2,325,000 | $1,400,000 | 39.8% | 67.4% | 329 |
| Upper West Side | $1,934,250 | $1,410,000 | 27.1% | 65.7% | 284 |
| West Village | $3,175,000 | $1,910,000 | 39.8% | 61% | 61 |
| Flatiron | $2,660,000 | $2,052,500 | 22.8% | 31.9% | 22 |
| SoHo | $3,650,000 | $2,829,975 | 22.5% | 28.3% | 13 |
| Lincoln Square | $2,133,234 | $1,395,000 | 34.6% | 27.9% | 57 |
| Chelsea | $2,700,000 | $1,552,500 | 42.5% | 24% | 56 |
| Tribeca | $3,175,000 | $2,496,250 | 21.4% | 13.3% | 18 |
| Financial District | $1,717,500 | $925,000 | 46.1% | 12.9% | 21 |

**Moving from a Chelsea condominium to a Chelsea co-op saved 42.5 percent at the median. Moving from Chelsea to Yorkville, one of the largest neighborhood steps on this list, saved 40.9 percent. The ownership decision is worth as much as the address decision, and almost nobody frames the search that way.**

*Source: REBNY RLS closings matched to our sales record — Co-op medians rest on between 13 and 329 closings per submarket; SoHo at 13 and Tribeca at 18 are thin. Co-op apartments are typically older and carry board approval, financing caps and a monthly maintenance that already includes the building's property tax, so this is a price gap and not a like-for-like value gap. Our co-op records rarely carry an interior area, which is why there is no per-foot column here.*

### Where sellers hold, and where they do not

Percent of ask is the median closed price as a share of the last asking price. Below ask is the share of closings that finished under it. With ask and With days are the sample sizes behind those two statistics, which are not the same set of sales.

| Submarket | Percent of ask | Below ask | With ask | Days on market | With days |
| --- | --- | --- | --- | --- | --- |
| Greenwich Village | 100% | 44.4% | 36 | 36 | 36 |
| Carnegie Hill | 97.5% | 60% | 20 | 36 | 21 |
| West Village | 97.3% | 60.6% | 33 | 78 | 35 |
| Yorkville | 97% | 72.3% | 47 | 42 | 45 |
| Lincoln Square | 96.7% | 67.7% | 127 | 77 | 127 |
| Upper West Side | 96.5% | 75.6% | 131 | 66 | 121 |
| Lenox Hill | 95.7% | 77.7% | 148 | 100 | 149 |
| Flatiron | 95.5% | 85.4% | 41 | 110 | 41 |
| Chelsea | 95.4% | 81.6% | 158 | 110 | 158 |
| SoHo | 95.3% | 78.6% | 28 | 106 | 28 |
| Hudson Yards | 95% | 71.4% | 21 | 91 | 21 |
| Upper East Side | 94.9% | 79.7% | 69 | 81 | 70 |
| Financial District | 94.6% | 94.7% | 133 | 107 | 115 |
| Tribeca | 94.3% | 87.5% | 104 | 84 | 109 |

**The Financial District is the softest market on this list by a distance: 94.7 percent of its two-bedroom condominium closings finished below ask, on 133 sales. Greenwich Village is the hardest, closing at the asking price at the median with only 44.4 percent going below it, and doing so in 36 days.**

*Source: REBNY RLS closings matched to our sales record — Days on market is derived from the listing event chain, not from the days_on_market field on the listing, which is unpopulated on effectively every row. The two sample counts differ because not every closing carries both a recorded ask and a complete listing history.*

## The Financial District is where the buyer has the most room

![High-floor corner living and dining room at 15 William Street in the Financial District, looking out at neighboring tower setbacks](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/fc3aee71-bd9e-4e29-a5d9-cf02235dfd6e.jpg)

*15 William Street, a 1,325 square foot two-bedroom asking $1,810,000, or $1,366 a foot against a neighborhood median of $1,288. Listing image courtesy of Corcoran Group through REBNY RLS.*

Ninety-four point seven percent of Financial District two-bedroom condominium closings went below ask. That is not a rounding difference against the rest of the list, it is a different market. Greenwich Village put 44.4 percent below ask and the Upper West Side 75.6 percent.

The median closing took 94.6 percent of ask and sat 107 days. So the working assumption downtown is that the asking price is an opening position, and that you have time. In Greenwich Village the working assumption is the opposite, and a buyer who arrives with a downtown negotiating playbook loses the apartment.

It is also the cheapest interior space on this list at $1,288 a foot, which is 55 percent under Greenwich Village. What you give up is co-op stock and prewar character: only 21 of the 163 two-bedroom closings here were co-ops.

One caution on the softness. Days on market and depth of discount both respond to how much inventory is sitting, and we currently show 206 active listings in the Financial District against 117 in Greenwich Village. A market with room to negotiate is usually a market with a reason. The full working is in the Chelsea versus Financial District comparison above.

### Whether the Buyer Advantage covers your mansion tax depends on the neighborhood

Run at each submarket's median two-bedroom condominium close. The mansion tax applies to the whole purchase price, not to the amount above the threshold, and the buyer pays it.

| Submarket | Median close | Mansion tax rate | Mansion tax | Buyer Advantage | Difference |
| --- | --- | --- | --- | --- | --- |
| SoHo | $3,650,000 | 1.5% | $54,750 | $54,750 | $0 |
| Hudson Yards | $3,450,000 | 1.5% | $51,750 | $51,750 | $0 |
| Greenwich Village | $3,342,956 | 1.5% | $50,144 | $50,144 | $0 |
| West Village | $3,175,000 | 1.5% | $47,625 | $47,625 | $0 |
| Tribeca | $3,175,000 | 1.5% | $47,625 | $47,625 | $0 |
| Chelsea | $2,700,000 | 1.25% | $33,750 | $40,500 | $6,750 |
| Flatiron | $2,660,000 | 1.25% | $33,250 | $39,900 | $6,650 |
| Lenox Hill | $2,325,000 | 1.25% | $29,062 | $34,875 | $5,812 |
| Lincoln Square | $2,133,234 | 1.25% | $26,665 | $31,999 | $5,333 |
| Upper West Side | $1,934,250 | 1% | $19,342 | $29,014 | $9,671 |
| Upper East Side | $1,918,750 | 1% | $19,188 | $28,781 | $9,594 |
| Carnegie Hill | $1,887,500 | 1% | $18,875 | $28,312 | $9,438 |
| Financial District | $1,717,500 | 1% | $17,175 | $25,762 | $8,588 |
| Yorkville | $1,595,000 | 1% | $15,950 | $23,925 | $7,975 |

**Five submarkets have medians in the $3,000,000 to $5,000,000 band, where the mansion tax is 1.5 percent and the Buyer Advantage ceiling is also 1.5 percent, so at the top of the rebate the two cancel. Below $2,000,000 the mansion tax drops to 1 percent while the rebate does not move, and Yorkville, the Financial District, Carnegie Hill, the Upper East Side and the Upper West Side all sit there.**

*Source: lib/buyer-advantage.ts and the NYC mansion tax bands — The Buyer Advantage figure is a ceiling of 1.5 percent on a resale, not a promise. What a buyer receives depends on the commission offered and on their buyer agreement. New development purchases run up to 2.5 percent, which would roughly double the Hudson Yards and Tribeca figures here, but the resale rate is the safe one to plan against. Mansion tax excludes New York State and City transfer taxes, which the seller normally pays.*

## The Upper East Side is four different markets, and the name costs you money

Every guide, including the last version of this one, treats the Upper East Side as one place. Our own records split it into four, and the spread inside it is wider than the spread between some of the neighborhoods people agonise over.

A two-bedroom condominium closed at a median $1,325 a foot in Yorkville, $1,413 in Carnegie Hill, $1,518 on the Upper East Side proper and $1,616 in Lenox Hill. That is a 22 percent range across four contiguous submarkets, and it is very close to the entire gap between Lenox Hill and Chelsea.

Co-ops behave the same way. The median two-bedroom co-op closed at $1,275,000 in Yorkville and $1,722,500 in Carnegie Hill, on 113 and 72 sales. A buyer who sets their search radius to the Upper East Side and their budget to the neighborhood-wide figure will systematically look at the wrong apartments in both directions. That pair is worked through in full in Lenox Hill versus Yorkville.

The same trap sits on the west side. Lincoln Square two-bedroom condominiums closed at $1,648 a foot against $1,616 for the wider Upper West Side, and the difference in negotiating room is larger than the difference in price: Lincoln Square one-bedrooms closed at 100.0 percent of ask on 175 sales with a median 34 days on market, the tightest large cohort in this study.

Source: RLS closings matched to our sales record, two-bedroom cohorts of 24 to 159 condominium sales and 72 to 329 co-op sales per submarket, August 2024 to June 2026. The Lincoln Square one-bedroom figure rests on 175 closings carrying a recorded ask and 172 carrying a full listing history.

## All fourteen submarkets, with the per-foot figure and the full dossier

Each of these opens the neighborhood's own advisory page: the buildings, the live inventory and the local market detail behind the number.

- Greenwich Village, $2,885 per interior foot, median close $3,342,956 on 39 two-bedroom condominium closings.

- West Village, $2,690 per interior foot, median close $3,175,000 on 39 two-bedroom condominium closings.

- SoHo, $2,151 per interior foot, median close $3,650,000 on 33 two-bedroom condominium closings.

- Hudson Yards, $2,133 per interior foot, median close $3,450,000 on 21 two-bedroom condominium closings.

- Chelsea, $1,968 per interior foot, median close $2,700,000 on 177 two-bedroom condominium closings.

- Tribeca, $1,853 per interior foot, median close $3,175,000 on 117 two-bedroom condominium closings.

- Flatiron, $1,798 per interior foot, median close $2,660,000 on 47 two-bedroom condominium closings.

- Lincoln Square, $1,648 per interior foot, median close $2,133,234 on 147 two-bedroom condominium closings.

- Lenox Hill, $1,616 per interior foot, median close $2,325,000 on 159 two-bedroom condominium closings.

- Upper West Side, $1,616 per interior foot, median close $1,934,250 on 148 two-bedroom condominium closings.

- Upper East Side, $1,518 per interior foot, median close $1,918,750 on 78 two-bedroom condominium closings.

- Carnegie Hill, $1,413 per interior foot, median close $1,887,500 on 24 two-bedroom condominium closings.

- Yorkville, $1,325 per interior foot, median close $1,595,000 on 51 two-bedroom condominium closings.

- Financial District, $1,288 per interior foot, median close $1,717,500 on 142 two-bedroom condominium closings.

Parts of both Chelsea and Greenwich Village fall within ZIP code 10011; buyers can also compare new-development and sponsor inventory in 10011.

## One two-bedroom from each of six of these submarkets, live now

- [25 5th Avenue #12F, New York, NY 10003 — $2,475,000, 2 bed, 1 bath](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10003/25-5th-avenue-f-12F-ny-10003)
- [32 MORTON Street #2C, New York, NY 10014 — $3,200,000, 2 bed, 2 bath](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10014/32-morton-street-2c-ny-10014)
- [101 LEONARD Street #5D, New York, NY 10013 — $2,700,000, 2 bed, 2 bath](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10013/101-leonard-street-d-5D-ny-10013)
- [15 WILLIAM Street #30A, New York, NY 10005 — $1,810,000, 2 bed, 2 bath](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10005/15-william-street-a-30A-ny-10005)
- [333 East 91ST Street #19D, New York, NY 10128 — $1,690,000, 2 bed, 2.5 bath](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10128/333-east-91st-street-d-19D-ny-10128)

## What I would actually do with this

If you take one thing from this page, take the co-op table rather than the per-foot one. Price per foot is what everyone argues about and the ownership structure is what moves the number. A Chelsea co-op closed 42.5 percent under a Chelsea condominium at the same bedroom count. No pair of neighborhoods on this list is that far apart.

Second, decide early whether you are buying area or address, because the two purchases price completely differently and Tribeca is the proof. It has the reputation of Manhattan's most expensive neighborhood and it closes two-bedrooms at $1,853 a foot, under Chelsea. Its apartments are simply bigger. If you want square footage in a name people recognise, that combination is the best value on this list.

Third, run your offer strategy off the negotiation table and not off instinct. A 5 percent opening discount is routine in the Financial District and close to insulting in Greenwich Village, where the median closing took the full asking price and did it in 36 days.

Two things this page cannot tell you. Neighborhood medians describe the neighborhood, not the building, and in-building evidence beats submarket evidence every time. And the co-op figures here are prices, not values: board approval, financing caps, sublet rules and a flip tax that in some buildings is payable by the purchaser can move the real cost of a co-op purchase by six figures, and none of that sits in a structured field. If you are looking at one seriously, send me the address and I will pull the building's own record before you make an offer.

The rebate is a ceiling of 1.5 percent on a resale and up to 2.5 percent on new development, and what you receive depends on the commission offered and on your buyer agreement. It is worth confirming for a specific apartment before you count on it.

## Frequently Asked Questions

### Which Manhattan neighborhood is the most expensive per square foot?

Greenwich Village, at a median $2,885 per interior foot on 39 two-bedroom condominium closings, followed by the West Village at $2,690. Tribeca is sixth at $1,853, below Chelsea. Tribeca does have one of the highest medians per apartment, $3,175,000, because its apartments are larger, so it reads as the most expensive neighborhood until you divide by area.

### Which Manhattan neighborhood is the cheapest to buy in?

Of the fourteen submarkets here, the Financial District at $1,288 per interior foot, then Yorkville at $1,325 and Carnegie Hill at $1,413. On median closed price the order is Yorkville at $1,595,000, the Financial District at $1,717,500 and Carnegie Hill at $1,887,500. A co-op in any of them is cheaper again.

### Is SoHo or Tribeca more expensive?

SoHo, at most sizes, which is the opposite of the usual answer. On two-, three- and four-bedroom condominium closings SoHo is dearer per interior foot, $2,151 against $1,853 at two bedrooms and $2,894 against $2,401 at four. Tribeca is dearer on one-bedrooms, $2,017 against $1,733.

### Are there co-ops in Tribeca and SoHo?

Yes, more than their reputation suggests. Tribeca produced 18 two-bedroom co-op closings against 117 condominium ones, a 13.3 percent share, and SoHo 13 against 33, a 28.3 percent share. The City's own sales file puts the co-op share of all Manhattan apartment sales at 16.7 percent in Tribeca and 38.8 percent in SoHo over the overlapping period.

### Where do buyers have the most negotiating room in Manhattan?

The Financial District. 94.7 percent of its two-bedroom condominium closings finished below the asking price, the median took 94.6 percent of ask, and the median apartment sat 107 days. Tribeca at 87.5 percent below ask and Flatiron at 85.4 percent are next. The tightest market is Greenwich Village, where the median closing took the full asking price in 36 days.

### How much cheaper is a co-op than a condo in Manhattan?

At the same bedroom count, between 8.7 and 46.1 percent depending on the neighborhood. The two-bedroom co-op median ran 42.5 percent under the condominium median in Chelsea, 40.7 percent in Greenwich Village and 39.8 percent in both the West Village and Lenox Hill, but only 8.7 percent in Carnegie Hill. The discount pays for board approval, financing caps and sublet restrictions rather than for a worse apartment.

### Which Manhattan neighborhood is best for families?

On the data this page can see, the family question resolves into space per dollar and co-op supply. Yorkville, Carnegie Hill and the Financial District closed two-bedroom condominiums between $1,288 and $1,413 a foot, so a given budget buys materially more room there than in the Village. The Upper East Side and Upper West Side also carry the deepest co-op stock, which is where the larger prewar layouts sit. School catchments and building policies are not in our records, so check those separately.

### Does the mansion tax change by neighborhood?

The rate does not, but which band your purchase lands in does, and that is decided by the neighborhood you shop in. It is 1 percent from $1,000,000, 1.25 percent from $2,000,000, 1.5 percent from $3,000,000 and 2.25 percent from $5,000,000, applied to the whole price rather than to the amount above the threshold. Five of the fourteen submarkets here have median two-bedroom closes above $3,000,000 and five sit below $2,000,000.

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