Posted on 02/07/2026 7:52:29 AM PST by millenial4freedom
Manhattan’s luxury housing market is quietly edging back toward its mid-2010s swagger after a decade marked by excess, collapse and recovery. And this time, the rebound appears to be powered by real money, not just empty supply.
New data shows the borough’s priciest homes are nearly back to their 2016 highs, a milestone last seen during the condo boom that reshaped Manhattan’s skyline.
By the end of last year, the median price for a luxury home — defined as the top 10% of the market — hit $6.39 million, according to a new report from Douglas Elliman.
Manhattan’s luxury housing market has largely clawed its way back to its 2016 highs after a volatile decade shaped by overbuilding, the pandemic and a sharp rebound, with prices and deal volume now nearing prior peaks.
Manhattan’s luxury housing market has largely clawed its way back to its 2016 highs after a volatile decade shaped by overbuilding, the pandemic and a sharp rebound, with prices and deal volume now nearing prior peaks.
That figure remains slightly below the last peak, but is up more than 6% from the prior year, signaling renewed strength at the top end.
Luxury deal volume is telling a similar story. Roughly 1,143 high-end homes sold last year. This virtually matches 2016 levels and marks a double-digit increase from 2024 — a notable rebound after years of pandemic-era disruption and higher borrowing costs.
(Excerpt) Read more at nypost.com ...
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The rich people voted for him. He is a tame Commie.
Rich people love communism, it keeps out the competition.
Headline...
“Manhattan’s luxury housing market is roaring back toward 2016 peak thanks to Wall Street bonuses”
First sentence...
“Manhattan’s luxury housing market is quietly edging back toward its mid-2010s swagger”
So is it “quietly” or “roaring”?
The K shaped economy. The rest of the real estate market still sucks
Inflation from 2016 to present was 35%, of which 21% alone was from the autopen years.
Unless the selling prices are 35% higher, the market is still down.
Wait a couple of years into the madman1 term and reflect on this article.
EC
PEOPLE ARE LEAVING-—SELLING THEIR HOMES & BAILING OUT
Some really stupid people are managing a lot of money.
Our Communists are serious people. The demographics and courts favor them.
Seems that the gap between the rich and the poor is accelerating in NYC.
That’s a relief. I was worried that I might not be able to find a place.
Wait for when Mamdani moves multiple poor tenant families and illegal immigrants into their luxury condo’s to live with them in the name of equity. See movie Dr. Zhivago.
Wait until Mamdani takes 90% percent of those bonuses back in taxes!
Just what I was going to say. Mamdani is a commie, the city council is commie, they insist on supporting illegal aliens, what do they think is going to happen?
Seems like it. Or at least he'll leave the rich people alone.
That’s how socialism works. It’s effectively feudal with peasants and lords.
With free markets, poor can move up to middle class and then wealthy.
With socialism, the middle class vaporizes with their money going to the new lords.
but you have to convert to islam to get in on it ,LOL
seems like those earning over $300k/year were more likely to vote for Cuomo:
************************
The under $30,000 and over $300,000 preferred Cuomo.
The economic groups sandwiched between those two groups went for the commie......by substantial margins.
The support Mamdani got from $50,000 to $200,000 is disgusting.
Wall Street big shots, entertainers, professional athletes are notorious for this.
Some data are helpful.
https://www.apartments.com/new-york-ny/studios-over-2000/
Manhattan studio apartments (basically one space/no walled off rooms, a bathroom and a kitchen) around 400 square feet for about $3,000/mo on average.
Let’s assume rent is 1/3 of monthly take home income. That means $9,000/mo after tax. Assume a gross 25% tax rate (that including federal and local less deductions etc).
That requires roughly a $150,000 annual income. That is your AVERAGE Manhattanista.
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