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

Extell president Gary Barnett, 510 East 14th Street and RXR Realty CEO Scott Rechler (Getty, EVGB)

Extell sells stake in Manhattan rentals to RXR Realty

Extell Development is selling off a stake in two Manhattan properties as it contends with a stagnant luxury residential...

Extell sells stake in Manhattan rentals to RXR Realty
A two floor unit in The Benson on Madison Ave was the priciest home to go into contract last week. (The Benson)

Best week since 2019 for Manhattan luxury market

 Buyers are returning to New York’s luxury market in force, with last week netting the largest number of contracts...

Best week since 2019 for Manhattan luxury market
Meredith Bluhm-Wolf and 520 Park Ave. (Getty, 520 Park)

Daughter of casino magnate Neil Bluhm buys $20M condo

Meredith Bluhm-Wolf, daughter of real estate and casino magnate Neil Bluhm, has purchased a $20 million condo at Zeckendorf...

Daughter of casino magnate Neil Bluhm buys $20M condo
991 5th Avenue (Photos via Gryffindor/Wikipedia Commons and the American Irish Historical Society)

Historic UES mansion hits market for $52M

A Fifth Avenue mansion built around 1900 is set to hit the market for $52 million. The five-story, 25-foot-wide property is owned by the American Irish Historical Society, which purchased it in 1936, according...

Historic UES mansion hits market for $52M

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