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...
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
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...
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...
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...
Buyer nabs $8.8M condo with mirrored room, stripper pole
It’s a house fit for a party. Complete with a stripper pole, a hydraulic table that rises from the...
Vornado sells another $55M condo at 220 Central Park South
There’s been another $55 million condominium sale at Vornado Realty Trust’s Billionaire’s Row tower, 220 Central Park South. The...
Why a $68M townhouse listing was abruptly pulled off the market
It could have been one of the priciest townhouses ever sold in New York. This October, British antiques dealer...
Gary Barnett gets candid about the condo boom of the 2010s and what’s to come
When Gary Barnett launched sales at One57 in 2011, he was met with skepticism. Prices at the Extell Development...
Kelly Mack on the new development boom of the 2010s
The 2010s were a time of decadence for real estate, according to Corcoran Sunshine chief Kelly Mack. The decade...
Luxury market ending 2019 on upswing after volatile year
New York’s luxury market is ending 2019 on the upswing following a volatile year, though it remains a buyer’s...
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