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 26, 2019David Koch lived at 740 Park, known as the world’s “richest building,” for 15 years.

The Latest

Clockwise from left: 240 Riverside Boulevar with  Charles Zegar, 111 Murray Street, and 220 Central Park South (Credit: Google Maps, Getty Images, and CityRealty)

Here are some of the Big Apple’s recent luxury resi buys

The prices of Manhattan apartments may have hit a four-year low because of the new mansion and transfer taxes...

CityRealty

Here are the week’s top luxury sales

Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.

Clockwise from left: 91 Leonard Street, 141 West 11th Street, 520 Park Avenue and 115 Central Park West (Credit: StreetEasy, Google Maps)

These are the latest, greatest residential sales in NYC

In recent New York residential deals, fashion designer Luca Orlandi parted with his Upper East Side townhouse for $27...

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.

565 Broome Street (Credit: iStock and 565 Broome Street)

Only in Manhattan? Luxury condo owner files “class action” because unit doesn’t have a wine cooler

Across the city, residents sometimes have to tussle with landlords to make sure they are getting basic necessities like heat and hot water. But...

CityRealty

Here are the week’s top luxury sales

Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.

From left: 220 Park Avenue South, 15 Central Park West, 520 Park Avenue, 35 Hudson Yards, Sting, Juan Beckmann Vidal, Daniel Och, Bob Diamond, and Stephen Ross (Credit: Getty Images, Wikipedia, StreeEasy, and Google Maps)

Serial buyers trade “old” condos for new on Billionaires’ Row

For many, a move coincides with a huge life event — relocating when a marriage begins or ends, upsizing...

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.

Former Bear Stearns CEO Jimmy Cayne and 510 Park Avenue (Credit: Getty Images and Google Maps)

Ex-Bear Stearns CEO James Cayne demands co-op records after board rejects 3 buyers

The former CEO of Bear Stearns, James “Jimmy” Cayne, claims a co-op board at 510 Park Avenue has blocked...

« Previous Next »