Vornado inks another $52M closing at 220 Central Park South
The global pandemic that continues to slam markets hasn’t stopped closings at Vornado Realty Trust’s ultra-luxury 220 Central Park...
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
John Legend, Chrissy Teigen snap up another Nolita penthouse
John Legend and Chrissy Teigen have scooped up a second penthouse in their Nolita building. The celeb pair dropped...
Marc Jacobs gets what he paid for West Village pad: $10.5M
Marc Jacobs has officially closed on the sale of his West Village townhouse, reaping a mere $50,000 more than...
Williamsburg pad hits market for almost $9M
A nearly 4,000-square-foot Williamsburg apartment has returned to the market, asking a whopping $8.75 million. Mark Altman, who works in the transportation industry, put the 10-room home on the market last Friday, the same...
Carhart Mansion duplex returns to market after four years
A prominent Carnegie Hill duplex is back on the market — and with another price chop. The 17-room unit...
NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?
Over the course of three head-spinning weeks in January, billionaire Ken Griffin went on what can only be described as a real estate buying...
J. Christopher Flowers nears deal for $50M UES co-op
Financier J. Christopher Flowers is in contract to buy an apartment for about $50 million on Manhattan’s Upper East...
Fortress buys debt on troubled 125 Greenwich
A SoftBank-owned investment firm has purchased the defaulted mortgage on the troubled luxury condo tower 125 Greenwich Street. Fortress...
Full-floor Sherry-Netherland pad relists — at nearly half its 2015 ask
A full-floor home at the iconic Upper East Side hotel and co-op, the Sherry-Netherland, is back on the market...
Big names, big properties, big price: $26M for Village homes
A 19th-century townhouse on West 4th Street has come to market, but this is not your average listing. The...
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