The Real Deal New York

Super luxury sales are “on fire,” but brokers question the depth of the market

By Melissa Dehncke McGill | February 21, 2012 10:30AM

From the February issue: The 1 percent is alive and well in Manhattan, where the luxury real estate market has generated plenty of headlines lately. With Citigroup chairman Sanford Weill’s pending $88 million sale at Central Park West and a $110 million listing at Gary Barnett’s under-construction One57, the high-end Manhattan market has been impossible to ignore.

This month, The Real Deal talked to some of the city’s top brokers and market analysts to find out what’s behind the splashy headlines. Why is the luxury market doing so well while there’s still softness in the rest of the New York City market — and the rest of the country, for that matter? [more]