Upper West Side tops nation in multimillion dollar home sales

TRD New York /
Oct.October 07, 2013 06:31 PM

Beverly Hills and New York City’s Upper West Side lead sales over $10 million last year, according to a report from Coldwell Banker. Of the properties purchased in that upper tier through June of 2013, 17 were in Manhattan’s 10023 ZIP code — the Upper West Side — and 18 in Beverly Hills’ famed 90210.

New York’s Upper East Side tied with Aspen, Colorado with 16 transactions each over the $10 million threshold in that period. New York City as a whole led cities in the nation with the most pricey sales.

Luxury home sales have been on the increase recently, as wealthy buyers take advantage of low interest rates and a recovering housing market. Those lower borrowing costs, along with the investment potential of real estate drove affluent homebuyers to take the plunge, according to the report, cited by Bloomberg News.

Then, of course, there are the international buyers from Asia and Europe who shop the U.S. for second homes. Such buyers are driving luxury sales in this country, Bloomberg said.

The report was compiled using completed sales data from StreetEasy and Multiple Listing Services from July 1, 2012 through June 30, 2013. [Bloomberg News]Julie Strickland

Related Articles

Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

993 Fifth Avenue and Gilbert Harrison (Credit: Google Maps and GLC)

Retail exec sells Fifth Avenue co-op to Chanel heir for $19M

Clockwise from left: 240 Riverside Boulevar with  Charles Zegar, 111 Murray Street, and 220 Central Park South (Credit: Google Maps, Getty Images, and CityRealty)

Here are some of the Big Apple’s recent luxury resi buys

Clockwise from left: 91 Leonard Street, 141 West 11th Street, 520 Park Avenue and 115 Central Park West (Credit: StreetEasy, Google Maps)

These are the latest, greatest residential sales in NYC

565 Broome Street (Credit: iStock and 565 Broome Street)

Only in Manhattan? Luxury condo owner files “class action” because unit doesn’t have a wine cooler

From left: 220 Park Avenue South, 15 Central Park West, 520 Park Avenue, 35 Hudson Yards, Sting, Juan Beckmann Vidal, Daniel Och, Bob Diamond, and Stephen Ross (Credit: Getty Images, Wikipedia, StreeEasy, and Google Maps)

Serial buyers trade “old” condos for new on Billionaires’ Row

Former Bear Stearns CEO Jimmy Cayne and 510 Park Avenue (Credit: Getty Images and Google Maps)

Ex-Bear Stearns CEO James Cayne demands co-op records after board rejects 3 buyers

Kelly Killoren Bensimon went from modeling to “The Real Housewives.” Now she’s taking a crack at real estate.