Looking north towards Billionaires’ Row in early October © 6sqft
A new study of the top “ultra-prime” locations in the world dispels any doubt that Billionaire’s Row is living up to its name. London-based property consultancy Knight Frank, along with Douglas Elliman, looked at the number of homes sold for over $25 million since 2015 and found the greatest concentration along Midtown’s 57th Street, where 41 transactions have been closed in the last five years at an average price of $38.5 million. Manhattan cracked the top ten three more times, with Central Park South coming in third, followed by Park Avenue and Fifth Avenue in fourth and seventh place.
Seeing 57th Street at the top of that list is hardly a surprise. More than half of NYC’s most expensive sales last year closed at One57 and 432 Park—just two of several luxury towers on the street. Central Park South—where Robert A. M. Stern’s 220 Central Park South recently surpassed $1 billion in sales, including Ken Griffith’s jaw-dropping $238 million purchase—landed in third place with 32 sales at an average of $44.9 million.
Park Avenue saw 20 sales priced above $25 million with a $43 million average sale price, while Fifth Avenue had 10 at an average of $55.7 million.
According to a press release from Knight Frank and Douglas Elliman, “Hong Kong’s Mount Nicholson Road, located on the Peak takes top second place with 35 transactions, although this location has the highest average price tag globally, at a jaw-dropping $81.8M.”
- NYC’s third $100M+ real estate deal closes at 220 Central Park South
- Tribeca stays on top and Hudson Yards emerges as #2 on the city’s priciest neighborhood list
- More than half of NYC’s 20 most expensive sales were at One57 and 432 Park
- Passing $2B in sales, 432 Park becomes highest selling building in NYC ever