Luxury home deals soar in Hamptons, New York, South Florida
This year is chock-full of luxury deals across the Hamptons, New York City and South Florida, according to a...
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, 2019—An interactive look at where the biggest deals were struck, plus total overall sales and average prices for the week.
August 26, 2019—David Koch lived at 740 Park, known as the world’s “richest building,” for 15 years.
August 21, 2019—An interactive look at where the biggest deals were struck, plus total overall sales and average prices for the week.
The Latest
Brooklyn luxury contracts led by $10.7M condo, $6.4M Park Slope brownstone
A condo unit in Brooklyn Heights that went into contract last week not only marked a likely borough-high price...
Eleanor Roosevelt’s UES townhouse sells for 17% post-makeover price cut
Despite a modern makeover, the final sale price on Eleanor Roosevelt’s former townhouse didn’t live up to its original...
Nasser family’s Fifth Ave co-op sells for $35M, a third off asking price
Another day, another discount. The Nasser family, which made its fortune in textile manufacturing, just sold its triplex at...
Serhant takes on Sousa’s snakebit townhouse, asking $26.5M
Let’s get ready to rumble: In one corner, star agent Ryan Serhant and colleague Nicole Palermo. In the other,...
UES mansion busted in rental controversy lists for $30M
A couple fined in 2015 for illegally advertising to rent out their 12,000-square-foot Upper East Side mansion for short-term...
Bryan Cranston buys Central Park West co-op for $5.6M
A note to the doormen of Central Park West: keep an eye out for The One Who Knocks. Last...
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...
Arel Capital’s Richard Leibovitch sells 220 Central Park South unit for $33M
Arel Capital co-founder Richard Leibovitch has closed on the sale of his 3,700-square-foot apartment at 220 Central Park South...
Brooklyn Heights condo tops luxury contracts at $2.6K per square foot
The most expensive contract signed in Brooklyn last week was also the priciest in Brooklyn Heights this year as...