NYC Real Estate Prices Are Soaring with No End in Sight

After years of depressing figures in the real estate market nationwide, the tide has finally turned. Cities across the country are experiencing higher closing prices and New York City is no different. In 2015 there were several astounding sales completed, including the sale of a penthouse in Extell Development’s One57 for $100.47 million. Hundreds of townhomes and condos shared in the booming real estate market with increasing closing prices.

As NYC regains its footing, “billionaire bunkers” are making the city their home. Keep an eye out for 432 and 520 Park, as well as 56 Leonard, as the addresses boasting some of the most expensive real estate in NYC. A new record is scheduled to be set in the next few years by Kenneth C. Griffin, a Forbes favorite. He entered into a contract last summer to purchase a triplex at 220 Central Park South for $220 million, surpassing the most expensive real estate transaction on the books, that of a $147 million estate in East Hampton, NY.

Whether you are looking for a condo, townhouse, or Penthouse, Town Real Estate should be your first call. We are the experts on high-end real estate in New York City apartments for rent and we have thousands of clients who have used our services to find their homes. Whether you are making the city your permanent residence or need a rental for shorter stays, Town Real Estate can help you find the property of your dreams. Our real estate agents pride themselves on not just knowing the city, but understanding your needs and wants for your next residential property.

We work with individuals and agencies around the city to stay up-to-date with which properties are coming onto the market soon, the latest in NYC real estate trends, and so much more. Selling your home? We have proven to be the leading real estate agency that will give you the guidance you need to not only sell your home in a timely fashion, but for a price that will make you proud. Our brokers work hard to bring the right clients to your home, the type of customers that will not only appreciate your prime real estate but those willing to pay for it.