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 26, 2019David Koch lived at 740 Park, known as the world’s “richest building,” for 15 years.

The Latest

Louis Buckworth with 520 Park Ave

520 Park Avenue unit sells for $22M in rare resale

UPDATED, Jan. 31, 2023, 4:15 p.m.: A full-floor unit at Zeckendorf Development’s 520 Park Avenue has sold in a...

520 Park Avenue unit sells for $22M in rare resale
10 Riverside Boulevard (One Waterline Square, Getty)

Holiday hangover: Manhattan’s luxe market is stuck

Manhattan’s luxury market is still dealing with a holiday hangover. The borough saw 15 signed contracts, to make the...

Holiday hangover: Manhattan’s luxe market is stuck
Joe Tsai with 220 Central Park South, Vlad Doronin with 730 Fifth Avenue, Paul Allen with 4 East 66th Street, Michael Stern with 111 57th Street

Here are NYC’s 10 priciest homes of 2022

New York City’s residential market rolled into 2022 off the momentum of a historically hot 2021 before buyers and sellers hit the brakes in the face of interest rate hikes, economic uncertainty and inflation...

Here are NYC’s 10 priciest homes of 2022
Ian Bruce Eichner, 45 East 22nd Street

Eichner’s Madison Square Park saga enters final act

The saga of Ian Bruce Eichner’s Flatiron condo tower may finally be coming to a close. A nearly 6,000-square-foot...

Eichner’s Madison Square Park saga enters final act
944 Fifth Avenue and Central Park Tower at 217 West 57th Street

Central Park Tower condo tops Manhattan luxury contracts

A condo in the world’s tallest residential building topped the Manhattan luxury market last week. The priciest contract recorded...

Central Park Tower condo tops Manhattan luxury contracts

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