Gotham is $lipping
NYC falls off Top 10 priciest ZIPs
New York has 20 of the 100 priciest ZIP codes in the nation, but for the first time the city doesn’t have a single one in the Top 10.
Tribeca’s 10007 ZIP code was Gotham’s highest-ranked nabe in PropertyShark’s annual survey of median home-sale prices, coming in at 11th after falling from its fifth-place spot on last year’s list.
Tribeca’s 10013 ranked No. 13, five lower than last year. The only other New York ZIP code to break the top 20 was Brooklyn’s 11231, which covers part of Carroll Gardens.
The biggest price dip was 38 percent in the Garment District’s 10018, which dropped from 26th to 84th.
NYU real-estate economist Tim Savage chalked up the Midtown plummet to the area’s scattershot mix of old and new buildings.
“It’s just a less attractive neighborhood,” he said.
The Hamptons soared, however. At $3.875 million, Sagaponack, where Drew Barrymore and Jimmy Fallon have estates, ranks No. 2, the same as last year. And Bridgehampton moved up from No. 23 to No. 7, with $3.325 million.
Of the other eight top spots, Silicon Valley took six, Los Angeles had two that tied, and Washington state landed one — the Seattle suburb of Medina, where billionaires Bill Gates and Jeff Bezos live. No. 1 was Atherton, Calif., near Palo Alto, which had a median of $7 million.
In New Jersey, the Bergen County borough of Alpine tied for No. 100.
Manhattan’s fall is historic. It is the first time at least one neighborhood in the borough hasn’t made the Top 10 since PropertyShark launched the ZIP code rankings in 2015.
Data gurus blamed the coronavirus pandemic, pointing out the city was much harder hit than San Francisco or Los Angeles because so many of its most expensive ZIPs lie in the urban core.
New Yorkers have fled, many to the East End of Long Island, where real estate has boomed as a result.
But the rich might not have lost money at all when selling their New York City digs, Savage said, especially if they bought their condos during the financial crisis.
“Say you bought in 2010 — in Tribeca or a new condo in Chelsea — you might have seen a 40 percent gain,” he said. “Then COVID hits, and you decide to sell. That gain might be reduced somewhat, but you’ve still got a gain.”
Demand and a limited supply kept prices steady in the Hamptons, unlike the double-digit decreases in the city — notably 19 percent in 10007 and 15 percent in 10013, both in Tribeca.
One Manhattan bright spot, surprisingly, was the Upper West Side, where residents have railed the past few months about a surge in homeless men and a host of other qualityof-life problems, including rats.
The median price for 10069 skyrocketed $800,000 — 42 percent — from $1.925 million to $2.725 million.
“From New York standards,” Savage told The Post, “this is the center of the universe.”
Like in the Hamptons, demand is driving up the prices in 10069 on the Upper West Side.
“Investors understand real estate is a long-term commitment and COVID is a short-term crisis,” he said. “Once we’re through this, we’re back to a New York where this sliver of a ZIP code is highly desirous.”