Manhattan Trophy Home Sellers Test Buyer Limits on Price

Luxury-apartment owners in New York are listing a record amount of properties for sale, testing the upper limits of what buyers are willing to pay even as median prices remain off their peak set almost six years ago. Sellers have taken notice of a handful of record-shattering deals, triggered by an $88 million purchase at 15 Central Park West, and demand for trophy homes by international investors seeking havens for their cash.


There were 145 Manhattan residences listed for more than $20 million last year, the most in records dating to 2005, according to data from, a real estate website owned by Zillow Inc. (Z) The average asking price per square foot of those homes was $4,977, 18 percent more than the year before and also the highest on record. Two resellers are asking at least $100 million for their properties.

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