The Real Deal New York

Escape from New York

Around the world on a Manhattan budget of $5 million
By Angela Hunt | March 06, 2014 07:00AM

Live large in the big city. If you’re browsing for a high-end home in New York, you can expect to pay a lot of money for a rather small space. According to a recent report from brokerage Douglas Elliman, the median price of a luxury pad in Manhattan is nearly $5 million — $4.9 million, to be exact. (“Luxury” is defined as the top ten percent of the market, in terms of price.) Spending that amount on a luxury property here will typically get you fewer than 2,400 square feet, according to StreetEasy. But better deals can often be found across the Atlantic. Take a gander at these properties in other top cities, and you might find yourself saying buh-bye to the Big Apple.

Paris

We’ll always have Paris, and Paris will always appeal to foreign buyers — who are, at the moment, buoying the City of Light’s luxury property market, according to a recent story in the Financial Times. For $4.92 million, you can buy a four-bedroom, 2,475-square-foot penthouse in the highbrow Passy neighborhood in the 16th arrondissement of Paris. This residence is an art savant’s dream, within walking distance of the Musee Marmottan Monet and the Palais de Tokyo. On the banks of the river Seine, the top apartment in this nine-floor modern building boasts views of the Eiffel Tower from its wraparound balcony, as well as two indoor parking spots, wall-to-wall windows and a landscaped rooftop terrace. Contact: Jean de Premont, Daniel Feau Auteuil, +33 (0)1 45 24 34 44

Dubai

Even with property prices on the rise in Dubai, the city’s super-luxury digs offer a lot of bang for your buck. Spending $4.9 million will land you a beachside penthouse on the private man-made archipelago of Palm Jumeirah, connected to the city via the country’s first monorail, which runs every three minutes during peak hours. This massive six-bedroom, five-bathroom, 5,521-square-foot apartment features three built-in wardrobes, a private jacuzzi, a maid’s room and a balcony overlooking the Arabian Gulf and the Dubai skyline. The building itself offers a white-sand beach limited only to residents, an infinity pool, a fitness center and a sauna. Contact: Kempinski Residences, +971 44 32 79 72 4

Frankfurt

As continental Europe’s largest financial center, the city of Frankfurt offers super-sized luxury homes that won’t break the bank. A Manhattan budget can buy a spacious, suburban-style villa with plenty of room to run around, inside and out. This six-bedroom home, listed for $4.92 million, includes some very un-NYC private amenities, including a swimming pool, a two-car parking garage and a sizable stone terrace and landscaped backyard. Contact: Dmitry Ivanov, Regional Project, +7 812 970 64 51