Temperatures may be teeth-chattering chilly. But the new year is getting off to a red-hot, record-breaking start at 80 Clarkson Street in Greenwich Village. An unknown buyer is in contract to purchase and combine multiple apartments for $129,000,000 – making this the costliest pad ever sold downtown – and the fifth most expensive home in Manhattan history.
Big homes. Big bucks.
Ken Griffin’s legendary $238 million deal for his 24,000 sq. ft. kingdom at 220 Central Park South has comfortably held the city record since 2019. Last’s year’s stratospheric sale goes to developer Vlad Doronin, whose 5-story penthouse atop the Aman Hotel went for $135 million. And all of our Amazon purchases have helped Jeff Bezos turn 212 Fifth Avenue into his NoMad mega-mansion with a price-tag of $119 million.
The world near and far may be filled with uncertainties, but one thing remains steadfast: the wealthiest echelon of New Yorkers – and their international mogul comrades - are flush with cash and looking for trophy addresses that redefine every standard of luxury and bespoke privacy.
The power of a $50 million listing.
The Upper East Side has lost some of its gilt-edged cachet. The Village and Tribeca are perceived as a lot cooler (at least for now) – and the latest prestige projects are catering to this new generation of affluence. Developers are well aware of the hefty financial returns that are generated with apartments price-tagged at $50 million and up. No surprise: at least 15 ultra-luxe condos projects are rising or on the drawing boards – a strong indicator that the economy will continue to support the richest real estate investors.
What’s in a name? A lot!
While 80 Clarkson and 220 CPS are fetching a fortune with a “simple” address, more and more elite buyers – especially out-of-towners with multiple residences – are seeking the 24/7 luxury and amenities of Manhattan condominiums aligned with prestige hotels and brands like Four Seasons, Mandarin Oriental, Aman, Baccarat and Waldorf Astoria. Miami condos are the ultimate example of branded prestige – wooing buyers with names like Porsche, Armani, Missoni, Nobu, Cipriani and Fendi. Luxury branding offers the allure of exclusivity - and people are willing to pay a premium (20-35%) to enjoy the lifestyle promised by their favorite brands.
Homes for the real world.
For most buyers, super costly condos are delicious eye candy. New York is filled with life-enhancing homes at all price ranges. You just have to know where they are. And you really have to understand the needs and dreams of your clients. And these are skills I’m honored to bring your way.
