The $50M Home Market

Manhattan real estate has become so incredibly sexy.  From the dramatic “reality” shows to the media reports of billionaires and foreign investors gobbling up property, it has never been a more exciting time to live in NYC.

Today, Curbed ran an interesting piece on The 25 Most Expensive Homes in New York City ranging from the penultimate $118.5M potential (nope, it isn’t even one apartment yet) 3 unit Penthouse combo at The Ritz Carlton Residences in Battery Park to a Lenox Hill mansion at 57 East 64th Street for a measly $44M.

I love this articles just like the rest of the world. And a little secret, I love selling these homes too.  So when i read this article, I thought I would do a quick check of the plus $50M market and this is what I found.

Despite the numerous articles and media attention given to the mega million dollar sales in Manhattan, it turns out that only 9, yes N.I.N.E. residential properties have EVER sold for $50M or more (via StreetEasy) throughout the history of New York.  Compare that with the 14 that are currently on the market and it is obvious that there just aren’t as many super wealthy individuals as the press would have you believe.

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