Lonely townhouse finds a match after years on market
For 1,651 days, a Georgian-style townhouse on a stately Upper East Side block waited for a buyer. The 10,021-square-foot...
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, 2019—David Koch lived at 740 Park, known as the world’s “richest building,” for 15 years.
The Latest
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...
Ten months, 10% below asking: Dumbo condo leads Brooklyn sales
The priciest home sale in Brooklyn last week was $5.1 million for a Dumbo condo that spent 306 days...
Why ultra-luxury condo buyers are paying millions too much
At 220 Central Park South, a recent string of eye-popping sales seemed to brighten an otherwise gloomy year in...
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...
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...
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 $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...
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.
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....
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