News & Insights

Home » News & Insights » High-Rises on the Price Rise

High-Rises on the Price Rise


Photo by Julia Becher, from Unsplash

The luxury market for Manhattan apartments is making a strong comeback in 2019.

The top property reported in the past month is a veritable dream penthouse, 50 United Nations Plaza, which contains a five bed, six-point-five bath, floored with marble, covered with a high ceiling, looking out over the East River. For the price of a paltry $26 million, you could count yourself among the building’s 87 other wealthy elite tenants.

Want something a little more down-to-Earth? How about a slightly refurbished townhouse on East 84th street, for just under $22 million. More properties with four bedrooms and four-plus bathrooms are going from anywhere between $5.3 million to $15 million all over the city, with more condos being signed into contract every day.

The cause might just be declining interest rates in real estate, breathing new life into the market. If you’re feeling flush and looking for a new place, now’s the time to start investing.

Chiu, David. Report: Manhattan Luxury Home Sales Continue to Trend Upward. (June 2019).

Recent Posts

Impact of Shorter COVID-19 Quarantine on Workplaces

On Monday, the CDC announced changes to its recommended isolation and quarantine time from 10 days to 5 days for asymptomatic people with COVID-19. They recommend that people leaving isolation after 5 days continue to wear a mask for the following 5 days. The CDC also...

Restaurants Sue Over Vaccine Mandate

Restaurant operators sued Mayor Bill de Blasio and New York City over Key to NYC, the new indoor vaccine mandate program, on August 17-the same day the mandate went into effect. A group of restaurants in Staten Island, through the Independent Restaurant Owners...

Financial Regulators’ New Target: Social Media Influencers and SPACs

The Financial Industry Regulatory Authority (“FINRA”) will conduct three new regulatory sweeps in an effort to combat various activities causing extreme fluctuations in the financial markets. FINRA has chosen to target special purpose acquisition companies (“SPACs”),...

Does WARN Apply to Virus Closures?

Enterprise, in Benson et al. v. Enterprise Leasing Co. of Florida LLC et al., has tried to argue that the Worker Adjustment and Retraining Notification Act (“WARN”), through its natural disaster exception, does not apply to closures caused by COVID-19. Two Florida...