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

A Boerum Hill townhouse was sold for $5.7 million (Corcoran)

Brooklyn contracts bounce back in second half of September

Luxury contracts in Brooklyn jumped last week, after weeks of not reaching the 20-contract mark. Twenty-two contracts asking $2...

Brooklyn contracts bounce back in second half of September
1 Boerum Place in Brooklyn and Avery Hall founding partner Avi Fisher (Avery Hall)

One Boerum Place lands $177M recapitalization

One Boerum Place’s pivot to luxury rentals is moving ahead with an approximately $176.5 million debt package to recapitalize...

One Boerum Place lands $177M recapitalization

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