New York’s luxury market is slow. But its ultra-luxury market is booming

An oversupply of product has led to slowdown in New York’s luxury real estate market, but sales of “ultra-prime” properties are continuing to climb. Citing a Knight Frank study, Bloomberg reported that 153 properties in six cities worldwide sold at an average $43 million a house, or a total of $6.6 billion. Over the past year, 39 residential sales in New York were valued over $25 million, totaling $1.5 billion. The priciest section of New […]

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