The record for the most expensive condominium in Manhattan was officially broken (again) late last month, with the closing of a $100.47 million, 10,923-square-foot penthouse sale first announced in May 2012. The buyer’s identity was hidden, as the sale was legally to an LLC.
Related: The Market for Million-Dollar Homes Just Took a Huge Dive
As real estate appraiser and blogger Jonathan Miller pointed out yesterday at Curbed, the sale is way, way, way higher than anything else the Manhattan real estate market has seen since 2006 (though hedge fund manager Bill Ackman may be looking to set a new record before long).
Miller’s fun chart, below, tells a tall tale of sorts about Manhattan’s high-end real estate market by showing all residential sales over eight years, or some 120,000 records. That little pink dot on the top right is what we’re talking about here, but scroll down to some of the dots below it, too — and then take a peek at the numbers to the left. Once you’ve done that, you may want to go and read this, because the chart also serves as further evidence of what David Dayen wrote here months ago, namely that there are essentially two housing markets in America now: “one for the rich and one for the rest.”
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