The affluent district, a small subsection of Whitestone near the Nassau County line, is now one of the priciest neighborhoods in all of New York City, according to a new study — bringing a Queens enclave into the top five most-expensive spots for the very first time.
Real-estate data and research company PropertyShark just released its latest top 50 priciest NYC neighborhoods list, showing that Malba saw a breathtaking 61% year-over-year surge in median sales price to a record $2.5 million during the first quarter of 2026. That stratospheric jump made Malba the fifth priciest neighborhood in New York City overall — standing three spots behind famously wealthy Tribeca and two spots behind always-fashionable Soho.
The notable increase in median sales price stems from larger-than-normal homes trading hands in Malba during the first quarter, the report adds. Residences that sold there during those months averaged a roomy 3,096 square feet — far above the area’s year-ago 1,351-square-foot average. That’s also a good chunk bigger than the Queens 2,025-square-foot single-family home average.
Among those recent sales, a nearly 5,000-square-foot dwelling at 104 Malba Drive that sold for $3.12 million in March, according to StreetEasy. That property stands on a 9,000-square-foot lot with four bedrooms, an open kitchen with a large island and — outside — a resort-style pool.
In January, a 2,000-square-foot brick residence at 141-37 11th Ave. sold for $1.1 million, StreetEasy also shows. Meanwhile, in February, a five-bedroom property perched on the waterfront found a new owner for $2.82 million.
The PropertyShark report additionally notes that Malba is home to only some 850 residents who largely live in single-family homes — meaning availability is more limited than other parts of the city.
At present, StreetEasy shows only six houses listed for sale in Malba. One, a four-bedroom spread at 4 Point Crescent, asks $3.88 million — and comes with views of the Whitestone Bridge, a living room adorned with a fireplace, a gourmet kitchen with cherry cabinetry and a backyard with a private pool.
“[Malba] has gotten more expensive primarily because there is only very limited inventory and only one-family detached houses, no big condo or rental buildings,” said that home’s listing agent Susanne Gutermuth, of Douglas Elliman. “While it’s still a hidden gem, it’s in a convenient location — tucked away but at the same time a hop and a skip to the cross island and the bridges, which makes it very easy to commute and get around. Also, almost every street you drive down has new construction or complete remodels — there is a lot of money flowing into the area, and some houses have incredible views of the bridges and the Long Island sound. It’s absolutely beautiful, with impressive mansions and much lower taxes than Westchester or Long Island.”
All the way across the city, Hudson Yards ranked New York’s most expensive neighborhood — as it has multiple times in the PropertyShark reports. There, the median price hit $4.62 million, marking a 14% year-over-year drop. That’s due to six deals closing at 35 Hudson Yards — a development where 14 units are now for sale. The most expensive among them: a nearly 3,850-square-foot four-bedroom priced at $8.95 million.
As for the other pricey city districts, they’re the usual suspects.
At No. 2, Tribeca, whose median sale price jumped 29% year-over-year to $4.25 million. No. 3 Soho, with a median of $3.25 million, saw a 16% year-over-year dip. Neighboring Hudson Square on Soho’s western — and more office-heavy — end came at No. 4 at $2.95 million, a 13% year-over-year climb.
