…Jonathan Miller, president of appraiser Miller Samuel says this sale sparked a number of other transactions around the same value….
…Miller says while the luxury apartment market – the top 10 per cent of the market or properties worth more than $US3 million – has been active, it is the ultra-luxury trophy apartments in Manhattan that have been gaining the most attention of late.
“There have been a significant number of transactions above $US50 million,” Miller says….
…Miller says while the number of luxury developments in Midtown and Lower Manhattan has grown markedly, the overall property stock remains mixed, so offshore buyers still tend to gravitate towards the more established prestige neighbourhoods, like the Upper West Side and Upper East Side….
…“Luxury real estate has become this new global currency,” says Miller….