The luxury homebuying market in New York City kept humming along in 2025, even as prices climbed and political uncertainty grew around the mayoral election.
That’s because, in the Big Apple, the luxury market is defined as properties bought or sold for more than $4 million — including single-family homes, brownstones and condominium units. Participants in this market are typically high-income earners who purchase properties in cash, often after withdrawing funds from their well-performing stock portfolios. In 2025, gains in the stock market have been positive overall.
Prices for luxury homes have skyrocketed because supply has been low. For example, there were only 849 active listings for luxury homes in Manhattan in November, marking the lowest total for that month since 2013, according to The Corcoran Group brokerage.
A similar report from Compass found that luxury inventory fell in the third quarter, with homes priced between $10 million and $20 million dropping 22.6% alone.
Brokers in New York City also said there have been some clear preferences among buyers and sellers in the luxury market this year. Buyers, for example, are shying away from properties that require renovations; they have been willing to pay top dollar for move-in-ready homes. Conversely, some sellers have noticed that inventory is low, and they have been aggressively pricing their homes.
All those factors have led to 2025 notching some ultra-pricey residential real estate deals. The top sales are based on Multiple Listing Service listings on Homes.com. They do not include some off-market transactions.
5. $46 million
Address: 973 Fifth Ave., Manhattan
Seller's agent: Carrie Chiang, Corcoran
Square footage: 16,000
Bedrooms: 11
Bathrooms: 10
Year built: 1910
The property is a 25-foot-wide limestone mansion in the Metropolitan Hill neighborhood of Manhattan. The seven-story home offers views of Central Park and the Metropolitan Museum of Art. As part of the home's multiyear renovation project, each room has its own heating, ventilation and air-conditioning zone.
4. $46.9 million
Address: 111 West 57th St., Penthouse 72, Manhattan
Seller's agent: Nikki Field, Sotheby's International Realty
Square footage: 7,256
Bedrooms: 4
Baths: 5.5
Year Built: 2022
Sold in April, Penthouse 72 is a three-level condo unit with its own elevator. The Manhattan triplex penthouse features 14-foot ceilings and windows that extend from the floor to the ceiling. Residents in the penthouse also enjoy a private, full-floor outdoor space.
3. $47.4 million
217 W. 57th St., Unit 121, Manhattan
Seller's agent: Corcoran Sunshine Marketing Group
Square footage: 7,074
Bedrooms: 5
Baths: 5.5
Year built: 2020
Sold in November, this home sits inside Central Park Tower — a 131-story condominium development in Midtown. It occupies the 121st floor and offers commanding views of Central Park, the New York City skyline and the East and Hudson rivers. Residents in the condo tower have access to a steam room and the grand ballroom on the 100th floor.
2. $53.5 million
Address: 960 Fifth Ave., Unit 1/2B, Manhattan
Seller's agent: Alexa Lambert, Compass
Square footage: Not available
Bedrooms: 8
Baths: 7.5
Year built: 1927
The unit sits inside a pet-friendly cooperative building in Manhattan's Upper East Side neighborhood. The unit features 13-foot ceilings in the main rooms and 11-foot ones in the bedrooms. The unit is on the 12th floor, high enough to clear the treetops and offers grand views of Central Park.
1. $60 million
Address: 150 Charles St., Unit 9A, Manhattan
Seller's agent: Peter Zaitzeff, Serhant
Square footage: 5,840
Bedrooms: 5
Baths: 5.5
Year built: 2015
Seller's agent: Peter Zaitzeff, Serhant
Sold in March, this unit is located within a 15-story condo tower in Manhattan's West Village neighborhood. The unit has views of the Hudson River, and the new owner will have access to the building’s indoor pool, playground and rooftop deck. Harsh Padia of Hap Capital Advisors, and his wife, Purvi, sold the home to an unnamed buyer.