NYC's 10 most expensive neighborhoods

The annual ranking of the Big Apple’s most expensive neighborhoods is out and there are a few surprises.

Compiled by Property Shark, Manhattan and Brooklyn continue to dominate the list, which is based off residential sales data, the New York Post reported. But some regularly top-ranked enclaves struggled this year.

Tribeca’s prices fell 18 percent year-over-year, despite hanging on to the top spot with a median sales price of more than $3.8 million. Sales prices in Little Italy and the Flatiron District plummeted even more, by 42 percent and 32 percent, respectively.

The notable winner, however, was the Garment District, which saw prices jump 41 percent year-over-year. The median sales price is now just over $2.3 million. [NYP]–Erin Hudson

1. Tribeca

New York, New York, USA – June 20, 2011: The Tribeca Tavern as well as other establishments can be seen in this shot of West Broadway in the Tribeca section of lower Manhattan. People are eating outdoors as others stroll by. Focus is on the Tribeca Tavern sign.

2. Soho

MidtownSoho Broadway street scene on a sunny Autumn day with people crossing the street and rows of stores, restaurants and apartment buildings on each side.

3. Garment District