NYC Luxury Market

NYC Luxury Market

New York’s luxury sector is the top 10 percent of residential sales. The market is influenced by the buying and selling of these homes, as well and the development of new luxury residential spaces in the city.

NYC Luxury Market Q&A

What is included in the luxury market?
The luxury market includes the construction of new luxury buildings as well as the buying and selling of existing luxury homes, apartments, and condos. In 2018 the fastest-growing luxury market was in Guangzhou, China, according to The Real Deal's research.
What is the average luxury apartment sale in New York?
According to The Real Deal's 2019 Data Book, in 2018 the average luxury apartment in New York sold for $8.9 million and cost over $2,800 per square foot after sitting on the market for 115 days.
Who buys and sells luxury apartments?
Luxury apartments can be bought by individuals or families for occupancy purposes, purchased as investments or as rental spaces. In 2018, the highest residential sale price was $74 million. Two apartments at this price sold that year. One, at 520 Park Avenue, was sold by Zeckendorf Development and the other, at 9-13 East 75th Street, was sold by Roman Abramovich. Many top residential brokerages have teams that focus on luxury sales.
Want to know more about NYC's luxury market?
Check out our Top Stories below for TRD's most up-to-date coverage of New York's luxury market.

NYC Luxury Market Top Stories

August 28, 2019An interactive look at where the biggest deals were struck, plus total overall sales and average prices for the week.
August 26, 2019David Koch lived at 740 Park, known as the world’s “richest building,” for 15 years.
August 21, 2019An interactive look at where the biggest deals were struck, plus total overall sales and average prices for the week.

The Latest

Hovnanian Enterprises CEO Ara Hovnanian and 292-294 West 4th Street

Big names, big properties, big price: $26M for Village homes

A 19th-century townhouse on West 4th Street has come to market, but this is not your average listing. The...

Big names, big properties, big price: $26M for Village homes
Linda Ellerbee and 17 St. Luke’s Place

Famed journalist and singer unload their New York City homes

From a West Village townhouse to a full-floor apartment on Park Avenue, here are three of the city’s recent...

Famed journalist and singer unload their New York City homes
166 E. 81st St. (Credit: Google Maps, iStock)

UES townhouse once described as “infested with vermin” goes into contract

For Georgia couple Darrell and Tara Mays, their New York City dreams turned to nightmares after they realized their...

UES townhouse once described as “infested with vermin” goes into contract
The penthouse at 15 Union Square West and 121 East 22nd Street (Credit: StreetEasy)

Luxury market checks off another disappointing week of sales

New year, new market? Not quite, according to the latest luxury report from Olshan Realty, which showed another disappointing...

Luxury market checks off another disappointing week of sales
Renderings of Central Park Tower (Credit: Extell)

Inside Extell’s private club for the 0.1%

Extell Development is bringing a sky-high private club to what’s slated to be the world’s tallest residential tower. The...

Inside Extell’s private club for the 0.1%
Sarah Jessica Parker and Matthew Broderick's townhouse is on Charles Street (Credit: Getty Images, Google Maps)

Sarah Jessica Parker, Matthew Broderick shopping $19M townhouse

Sarah Jessica Parker and Matthew Broderick are reportedly looking for a buyer for their $19 million townhouse in the...

Sarah Jessica Parker, Matthew Broderick shopping $19M townhouse
220 Central Park South and Richard Leibovitch, co-founder of Arel Capital (Credit: Arel Capital)

Richard Leibovitch wants $10M more for the 220 Central Park South home he bought a year ago

What might end up being the first resale at the Billionaires’ Row tower 220 Central Park South is up for grabs — and the...

Richard Leibovitch wants $10M more for the 220 Central Park South home he bought a year ago
56 Leonard Street (Credit: iStock)

He invested more than $130M into 4 Manhattan condos. Now he’s taking a hit

UPDATED, Jan. 17, 2020, 10:53 a.m.: In the mid-2010s, German investor Ekkehart Hassels-Weiler dropped $131 million on four luxury...

He invested more than $130M into 4 Manhattan condos. Now he’s taking a hit
Gary Barnett

Quantifying the rise and fall of NYC’s condo market

The last decade saw the development of ultra-luxury condos that altered New York City’s skyline — and the rise...

Quantifying the rise and fall of NYC’s condo market
Vincent Viola and 12 East 69th Street (Credit: Getty Images)

Vincent Viola’s Upper East Side townhouse gets $9M price cut

After years courting buyers, Vincent Viola’s Upper East Side townhouse has been discounted by another $9 mill ion. The...

Vincent Viola’s Upper East Side townhouse gets $9M price cut
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