Since the start of the quad complex at the beginning of this month, the Listing Agent Nikki Field has been encouraged with Sotheby's interest: “Several highly qualified people have already asked and visited the residence. There is real momentum.”
Rendering from Sotheby's International Realty provided
Like that Dow Jones Industrial Average In Manhattan, which fell through the global markets and provided the tariff headlines through the global markets, a different number was filmed: a newly listed penthouse of 110 million US dollars, which today the most expensive house for sale in New York City.
The list debut the Wall Street on April 3 in one of the most turbulent weeks. That day the Dow fell by 1,679 points and shot by 4%. The day after, it lost another 2,231 points. Since then, the markets have been turbulent because the uncertainty of trade policy makes investors restless.
Sotheby's International Realty Broker Nikki Field, who represents Manhattan's listing, said that the market fluctuations had not touched its target buyers.
“This buyer segment remains unaffected by market volatility,” said Field. “They do not react to headlines or fluctuations. They focus on curating first -class portfolios.
The property in question is a rare bundled offer on the landmark Steinway Tower in the 111 West 57th St. Penthouse 80 and Penthouse 82 are marketed together as a potential quad plex, which spans over the four best levels of the tower, which offer private access to the elevator. Together they offer 11,480 square meters, five bedrooms, six bathrooms, several lounges and a 618 square meter terrace with a comprehensive view of the Central Park and both rivers on both sides of Manhattan.
Overall, the combined square meter number 11,480 square meters with five bedrooms, six bathrooms, several lounges and a 618 square meter terrace that offers panoramic views of Central Park and both rivers.
Rendering from Sotheby's International Realty provided
“While the houses remain physically separate today, the chance lies in their architectural potential,” said Field.
According to Sotheby's, no unit was ever performed publicly or marketed individually.
Although currently not mixed, the two mega influences are marketed as a potential quad plex that extends over the four best levels of the tower.
Rendering from Sotheby's International Realty provided
Since the start of the Quadplex -Listing at the beginning of this month, Field believed that the buyer interest was strong.
“Several highly qualified people have already inquired and drove through the residence. There is real momentum,” she said.
According to the reporting from the Real Deal, Field and her team took over the sale at 111 West 57th St. in July, which replaces the Corcoran Group and the third broker has been in 2018.
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The 220 Central Park South Building, the center, is in New York, USA on Wednesday, January 23, 2019.
Jeenah Moon | Bloomberg | Getty pictures
For the context, the acquisition of Griffin was around $ 10,420 per square foot. The 110 million dollars in the 111 West 57th St. with 11,480 square foot is around $ 9,578 per square foot.
Nevertheless, Miller warned against reading too much in these sky-high sales: “They should be regarded as one-off sales and not connected to the local luxury living markets.”
Shifts in the high-end market
While the field is still Bullisch in the ultra-primary demand, some brokers see more to hesitate on the wider luxury market.
In a recently carried out report by Wall Street Journal, more luxury buyers resign due to the instability of offers.
“The lack of a clear strategy for tariffs has produced economic uncertainty,” said Miller. “And this is expected that living activity is slowing down.”
According to Realor.coms 2025 high-end real estate market trends and outlook, the richest 10% of Americans have the most of their assets on the stock exchange, around 36.3% of corporate shares and investment funds. Real estate accounted for 18.7% of their total assets.
“Nobody likes uncertainty … This is the worst thing for real estate. And at the moment nobody really knows what is coming,” said Douglas Elliman New York City Luxury Broker Noble Black. “Some customers believe that tariffs could lead to inflation and ultimately higher real estate values.
Nevertheless, there is signs of resilience at the top.
According to the Olshan Luxury Market Report, the Manhattan contracts for houses for 4 million US dollars and more pursued, 33 contracts were signed between the 14th and 20th April 20th, which have increased 29 such contracts in the previous week.
“It was a surprisingly strong performance for the luxury market,” said Donna Olshan in the report, especially in view of the holiday calendar and market volatility.
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In Los Angeles, the luxury broker Aaron Kirman from Christia's International Real Estate said that buyers and sellers are not on the same side.
“The market of the market: buyers are careful, the sellers still hope for the prices for 2020-2021,” he said. “Deals either die in this gap or are done.”
Nevertheless, some sellers begin to adapt, said Kirman.
“We saw how price cuts were offered certain buyers or brokers instead of being advertised,” he added. “It's about preserving perception and staying competitive at the same time.”
And buyers, he said, become more strategy.
“They are active, but conservative,” said Kirman and preferred all-cash offers, clean terms and longer inspection windows. “You negotiate harder about price, furnishings and flexibility.”
Kirman found that an increased caution also extends the sales time plans.
“What used to take three to six months could now take nine to 12, unless it is a turnkey estate that checked every box,” Kirman remarked. “Patience is now more necessary.”
In Südflorida, the luxury broker Senada Adzem with Douglas Elliman emphasized that the high-end luxury market does not drop, but is changing.
“They are sellers who adapt to today's more demanding and anxious buyers,” she said.
According to Adzem, buyers with a range of $ 5 to $ 10 million are value to value that carefully rate comparisons and whether the house delivers lifestyle requirement.
“There are definitely more negotiations and selectivity in this room,” said Adzem.
But in the level of more than $ 20 million, she said, the priorities shift.
“The buyers at this level pursue rarity, trophy properties, irreplaceable waterfront. If the correct opportunities are the price, the price is important, but not of the greatest importance,” she said. “At the ultra -high end, it is less about showing the market, and rather about securing a unique capital that fits into a long -term vision or a long -term legacy.”