STATEN ISLAND, N.Y. — Hundreds of two-family homes were sold across New York City during the first two months of 2024, but how much buyers paid for them varied greatly based on the borough where the homes are located.
Through the first two months of the year, there were 1,580 two-family dwelling sales across the five boroughs, according to New York City Department of Finance (DOF) data.
However, more than 42% 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 916 paid two-family home sales across New York City from the beginning of the year through the end of February, the most recent month currently available on the DOF website.
Queens led the way with 364 such sales over the past year, followed by Brooklyn, the Bronx, Staten Island and Manhattan, which saw 335, 135, 69 and 13 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 $4,293,557, more than triple the next-closest borough.
The second-highest average sales price was in Brooklyn, where two-family homes sold for an average of $1,381,123.
Queens had an average sales price of $910,865, followed by Staten Island with an average price of $768,395.
The Bronx had the lowest average sales price for two-family homes at $743,971, slightly below the Staten Island average.
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