< All Press

Property in Manhattan on the rise

…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….

Get Weekly Insights and Research

Housing Notes by Jonathan Miller

Receive Jonathan Miller's 'Housing Notes' and get regular market insights, the market report series for Douglas Elliman Real Estate as well as interviews, columns, blog posts and other content.

Follow Jonathan on Twitter

#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
NYC CT Hamptons DC Miami LA Aspen
Joined October 2007