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

220 Central Park South and Richard Leibovitch, co-founder of Arel Capital (Credit: Arel Capital)

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...

Richard Leibovitch wants $10M more for the 220 Central Park South home he bought a year ago
56 Leonard Street (Credit: iStock)

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...

He invested more than $130M into 4 Manhattan condos. Now he’s taking a hit
Gary Barnett

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...

Quantifying the rise and fall of NYC’s condo market
Vincent Viola and 12 East 69th Street (Credit: Getty Images)

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...

Vincent Viola’s Upper East Side townhouse gets $9M price cut
136 Grand Street, #3WR

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...

Buyer nabs $8.8M condo with mirrored room, stripper pole
Vornado Realty Trust’s Steve Roth and 220 Central Park South (Credit: Getty Images, Google Maps, iStock)

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...

Vornado sells another $55M condo at 220 Central Park South
60 East 93rd Street and Carlton Hobbs (Credit: Google Maps and Getty Images)

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...

Why a $68M townhouse listing was abruptly pulled off the market
Extell CEO Gary Barnett (Credit: Adam Pogoff)

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...

Gary Barnett gets candid about the condo boom of the 2010s and what’s to come
Kelly Kennedy Mack (Photos by Michael McWeeney)

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...

Kelly Mack on the new development boom of the 2010s
The San Remo building at 145 Central Park West and 155 West 11th Street (Credit: Wikipedia and StreetEasy)

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...

Luxury market ending 2019 on upswing after volatile year
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