NEW YORK

New York and Manhattan luxury real estate

New York City, the Big Apple - the business and financial capital of the world. A thriving metropolis with everything from Broadway to cultural centers and financial landmarks. One of the key sectors of New York luxury real estate is the market of high-end homes available in New York City. The Big Apple remains one of the most storied urban areas in America: it has been and will continue to be a metropolis among metropolises, and millions of New Yorkers swear they simply would not care to live anywhere else. Living in New York City provides residents with incredible economic, cultural, and educational opportunities – and New York luxury homes are uniquely situated to take advantage of these amenities. New York City, for example, is home to some of the world’s best theatre, music, and art – and New York luxury homes put residents within easy reach of some of the nation’s most venerable cultural institutions. Additionally, New York City is home to many jobs and economic opportunities: a significant number of large companies and industries are based in this all-important city. New York luxury real estate also offers ample access to educational opportunities. Together, these factors point to the understanding that New York luxury real estate offers something that truly cannot be found anywhere else.

Manhattan luxury real estate

Manhattan is a major commercial, financial, and cultural center of both the United States and the world. Manhattan has the largest central business district in the United States, is the site of both the New York Stock Exchange and NASDAQ, and is the home to the largest number of corporate headquarters in the nation. It is the center of New York City and the New York metropolitan region, hosting the seat of city government and a large portion of the area's employment, business, and entertainment activities. Much of the driving force behind prices of luxury homes in Manhattan comes from the financial services sector, many of whom are based on Wall Street and prior to 2008 there were 280,000 people employed in this sector, which accounted for more than 50% of the wages earned in a borough containing 2.3 million workers. Other industries with a strong presence in Manhattan driving the market include the advertising industry, and the term “Madison Avenue,” has become synonymous with that industry. Manhattan neighborhoods can vary quite dramatically in price, and it is quite possible to have a luxury condominium development placed directly opposite a less expensive development on the same block. Having said that, some streets and addresses are synonymous with luxury property. Park Avenue and Fifth Avenue for example are icons of luxury real estate and Fifth Avenue was ranked as the most expensive street in the world by Forbes magazine in 2008. Almost any residential property overlooking Central Park or the various waterways, would be considered a luxury home, and prices are reflected accordingly.