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

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
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”

For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
29 Beekman Place and Princess Ashraf Pahlavi (Getty, Courtesy of Zillow)

Inside the battle for an Iranian princess’ Midtown mansion

Inside the battle for an Iranian princess’ Midtown mansion
29 Beekman Street (Credit: StreetEasy; Google Maps)

Midtown East mansion with ties to shah of Iran gets another steep price chop

Midtown East mansion with ties to shah of Iran gets another steep price chop
301 East 80th Street and the penthouse at 112 Franklin Street (Credit: Beckford Tower and Atelier)

The highs and lows (mostly lows) of luxury-market dealmaking

The highs and lows (mostly lows) of luxury-market dealmaking
Vornado Realty Trust’s Steven Roth and 220 Central Park South (Credit: Roth by Bruce Glikas/FilmMagic; Jim.henderson via Wikipedia Commons)

Vornado inks another $52M closing at 220 Central Park South

Vornado inks another $52M closing at 220 Central Park South
Chrissy Teigen and John Legend with 374 Broome Street (Credit: Karwai Tang/Getty Images; Google Maps)

John Legend, Chrissy Teigen snap up another Nolita penthouse

John Legend, Chrissy Teigen snap up another Nolita penthouse
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...