The Real Deal New York

From the archives: NYC’s new benchmark is the billion-dollar listing

March 19, 2016 01:00PM
By Adam Pincus

From left: 650 Madison Avenue on the Upper East Side and Haim Chera

From left: 650 Madison Avenue on the Upper East Side and Haim Chera

Records are set — and broken — all the time, for all sorts of things. Temperatures. Speed. Distances. It’s no different in real estate. Usually, it’s prices that topple, a key sign of a hot market. And that certainly has been the case this year in New York City.

On the residential side, $100 million is now the yardstick. Every few weeks, it seems, another extravagant apartment is listed for nine figures. The commercial world is hoeing new ground, too — with a string of $1 billion–plus deals. They’ve come roaring back with a voracity that is surprising even insiders. Read the full story from the July 2013 issue after the jump. 

MENU