TriBeCa “reigns” as the most expensive neighborhood in New York City, but another neighborhood has shot up to the No. 2 spot.

That’s according to data compiled by PropertyShark.

Despite a 16 percent year-over-year price drop, TriBeCa is still NYC’s priciest area.

Meanwhile, the Garment District “skyrockets” to No. 2 with a 61 percent year-over-year increase, the report continued.

Here’s a breakdown of the data:

TriBeCa’s median price exceeds $3.4 million
Garment District had a median saleā€¦