View all newsletters
Latest in Luxury - Sign up to our weekly newsletter

Luxury Real Estate New York

By Neharika Padala

Trump SoHo New YorkAs with any global capital, New York’s luxury real estate market offers some of the most exciting opportunities to own ultra exclusive property worldwide.

Second only to Miami/Ft. Lauderdale on our comprehensive list with 22 new developments, the Big Apple continues to be a dynamic location in which to invest and expand your portfolio.

The New York luxury real estate market is increasingly competitive, with limited inventory continuing to drive up prices over the past few years. The first quarter of 2014 saw average prices for luxury real estate jump 45 per cent from $5.1 million to $7.4 million year-on- year, according to appraisal firm Miller Samuel.

In compiling our guide to the top residential real estate worldwide, we have used data from WealthInsight and Knight Frank to consider 19 different attributes, which include: current UHNW population; UHNW population projections for 2023; importance of the location currently; economic activity of the location; price change of luxury real estate in the past year; price per square foot and quality of life.

We have also carried out our own independent research on amenities and services, which comprises 55 per cent of each score. Taken into consideration are amenities including pool, secure parking, valet parking, 24-hour security, professional concierge, gym/health club, roof deck, cinema/media room, sauna/steam room, housekeeping service and on-site restaurant.

In our global guide, four New York developments make it into the top 10, including our number one luxury property overall, 432 Park Avenue – set to be the tallest residential tower in the western world.

Commenting on the list Ollie Williams, an analyst for WealthInsight, says:  “Today’s UHNW households live an intercontinental, global lifestyle. Traveling between continents is a normal occurrence and the result is there is a heightened interest in real estate ownership where it’s not unusual for the wealth to maintain residences on two and even three continents.”

Content from our partners
Shura Links the Red Sea's New Premier Golfing Destination
Grand Wailea: Experience Heaven, Earth and Sea
Plan the Unexpected with Resorts World Las Vegas' Flexible Dates

Select and enter your email address Be the first to know about the latest in luxury lifestyle. Get the latest news on hotel openings and in-depth travel guides. Get insider access to exclusive promotions and special offers from our luxury partners.
Visit our privacy Policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thank you for subscribing to Elite Traveler.

Websites in our network