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

From left: Colgate chairman Ian Cook and 1115 Fifth Avenue and 912 Fifth Avenue (Credit: Cuny, StreetEasy)

He sold enough toothpaste to buy this tony Carnegie Hill pad

Vornado Realty Trust’s 220 Central Park South has seen a string of luxury condo closings of late. But here...

He sold enough toothpaste to buy this tony Carnegie Hill pad
Larry Silverstein (Credit: Getty Images, iStock)

Silverstein’s lending biz could get a boost from the weak luxury condo market

Silverstein Properties is looking to double its lending business next year to more than $1 billion. The firm is...

Silverstein’s lending biz could get a boost from the weak luxury condo market
Vornado’s Steve Roth and 220 Central Park South (Credit: Getty Images)

Another villa unit at 220 Central Park South sells for $47M

The villa portion of Vornado Realty Trust’s 220 Central Park South is now half sold out, as an anonymous...

Another villa unit at 220 Central Park South sells for $47M
220 Central Park South and Vornado chairman Steven Roth (Credit: Google Maps and Getty Images)

Another $60M condo closes at 220 Central Park South

Another buyer has dropped almost $60 million on a 46th-floor unit at Vornado Realty Trust’s ultra-luxury development, 220 Central...

Another $60M condo closes at 220 Central Park South
CityRealty Map

Central Park South deal tops list of week’s luxury home sales

Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.

Central Park South deal tops list of week’s luxury home sales
255 West 11th Street with Liv Tyler and 49 East 67th Street  with Thomas and Ann Unterberg (Credit: Getty Images and Google Maps)

Here’s what sold in NYC’s luxury home market last week

Here’s the down-low on some of the residential deals that caught our eye in the Big Apple last week....

Here’s what sold in NYC’s luxury home market last week
CityRealty Map

Here are the week’s top luxury sales

Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.

Here are the week’s top luxury sales
110 Central Park South and Aleksandra Melnichenko (Credit: Google Maps and Getty Images)

Who’s buying what? Here are our top luxe resi sales

Pricey deals continue to close at Vornado Realty Trust’s ultra-luxury tower 220 Central Park South. And Lee Radziwill’s long-time...

Who’s buying what? Here are our top luxe resi sales
CityRealty Map

Here are the week’s top luxury sales

Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales

Here are the week’s top luxury sales
Lee Radziwill and her home at 160 East 72nd Street (Credit: Getty Images, Brown Harris Stevens)

Longtime home of Lee Radziwill, sister to Jackie O., sells for $4M

The estate of Lee Radziwill sold the former princess’s longtime Upper East Side home for $4.25 million, property records...

Longtime home of Lee Radziwill, sister to Jackie O., sells for $4M
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