STATEN ISLAND, N.Y. — Thousands of two-family homes were sold across New York City over the past year, but how much buyers paid for them varied greatly based on the borough where the homes are located.
Over the past 12 months, there were 13,237 two-family dwelling sales across the five boroughs, according to New York City Department of Finance (DOF) data.
However, nearly 50% of the sales are listed with $0 sales prices, indicating that there was a transfer of ownership without any cash consideration, which typically takes place when a parent transfers a property to their child.
When excluding all sales listed with a $0 sales price, there were 7,082 two-family home sales across New York City from January 2023 through December 2023, the most recent 12-month period currently available on the DOF website.
Brooklyn led the way with 2,721 such sales over the past year, followed by Queens, Staten Island, the Bronx and Manhattan, which saw 2,453, 940, 905 and 63 paid two-family homes sales, respectively.
While having the lowest number of two-family homes sold, Manhattan had, by far, the highest average price of any borough at $6,398,622, roughly five times the next closest borough.
The second-highest average sales price was in Brooklyn, where two-family homes sold for an average of $1,277,643.
Queens had an average sales price of $901,551, followed by Staten Island with an average price of $781,486.
The Bronx had the lowest average sales price for two-family homes at $705,627, roughly $75,000 less than the next closest borough.
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