NYC’s new benchmark is the billion-dollar listing

From the July issue: 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. [more]