 NYCs wealthiest fleestuffy Upper East Side for ultra-ritzy new enclave beloved by A-listers |
Source |
American Shipper |
Post Date |
06/04/2025 |
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Manhattans richest areabandoning the neighborhoods long favored by billionaires and decampingdowntown for the areas ultra-luxe penthouses and A-list appeal.
While the Upper East Side has playedhost to everyone from George Clooney to Gossip Girl, its losing ground toposh Manhattan locales like the West Village and Tribeca.
A recent PropertyShark ranking of New York Citys mostexpensive neighborhoods didnt even include the Upper East Side in the top 20,as several areas farther south topped the list.
Major companies like Google,Deloitte and Fanatics recently purchased office space downtown, leadingtheir wealthy employees to purchase real estate in neighborhoods like HudsonSquare and the Meatpacking District.
Theres a whole bunch of very wealthypeople working in the vicinity, meaning they often want to live in thevicinity, real estate agent Clayton Orrigo told the Wall Street Journal.
They?e buying up theWest Side Highway.
Hudson Square, just westof celebrity-filled Soho along the Hudson River, has become a covetedneighborhood for the rich - with a median sale price of $2,600,000 compared to$1,615,000 at this time last year, according to PropertyShark.
A luxury Hudson Squarebuilding on Clarkson Street has raised prices four times since February, theWall Street Journal reported.
Luxury buildings in theMeatpacking District and Hudson Square have become hot spots for NYCswealthiest
Apartment buildings indowntown Manhattan have seen prices surge as wealthy residents leave the UpperEast Side
The million-dollar price jump comes asGoogle ed its newest office space in the neighborhood.
Its one of thewealthiest corporations on the planet. That changes the profile of theneighborhood, real estate agent Leonard Steinberg told the Wall StreetJournal.
Rich buyers are typicallylooking to buy units in luxury buildings instead of historic brownstones.
Since downtownneighborhoods often have historic buildings and restrictions on how high newdevelopments can reach, the competition is intense to secure a new unit inthese up-and-coming areas.
Real estate broker PeterZaitzeff told the Wall Street Journal that theres a backlog of buyers eagerto purchase ultra-luxury penthouses downtown.
Zaitzeff recently listed aluxury condo in the West Village that made history as the priciest apartmentever sold in downtown Manhattan.
The duplex, at 150 CharlesStreet, was sold by financier Harsh Padia and his wife, Purvi Padia, for $60million.
The couple sold the homefor over double what they purchased it for, securing the unit in 2016 for $29.1million.
The Upper East Side wasthe setting for the hit television show Gossip Girl, which followed the livesof ultra-rich teenagers living in the neighborhood
Real estate pricesdowntown are rivaling areas like Billionaires Row on Central Park
Billionaires Row islocated at the intersection of East 57th Street and Fifth Avenue at the cornerof Central Park South.
The neighborhood is linedwith luxury retail storefronts like Bergdorf Goodman, Louis Vuitton, Tiffanys,and Bulgari.
Hedge fund manager Ken Griffin made history in 2019 when he purchased apenthouse in the area for $238 million, the highest sum ever paid for a home inthe US.
But as luxury living movesdowntown, prominent figures are hoping to score units in buildings like 150Charles St., where the Padias sold their home.
A-listers including JonBon Jovi and Ben Stiller have reportedly lived in the building.
These are new levels thatweve never seen before, Orrigo told the Wall Street Journal.
The agent recently listed a penthouse in Chelsea, previouslyowned by Howard Hughes Corporation CEO David Weinreb, for a whopping $75million.
Sarah Jessica Parker hasowned properties in New Yorks West Village, and has even filmed Sex and theCity and the shows spinoff, And Just Like That, in the neighborhood
A recent ranking putdowntowns Hudson Square as the fifth most expensive area to live in New YorkCity
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Real estate brokers toldthe Wall Street Journal that wealthy buyers are drawn to luxury high-risebuildings, which are few and far between downtown
The recently renovatedhome sits atop at 20-story building and features a private swimming pool.
Celebrities are also drawn to the WestVillage, with a 2019 Forbes article noting that the neighborhood is anunderrated spot for A-list sightings.
Matthew Broderick and Sarah JessicaParker reportedly renovated a property near Bleecker Street.
Architectural Digest began speculating back in 2019that the enclave was attracting stars, claiming that West 11th Street betweenWest 4th Street and Bleecker was the most star-studded block in thecity.
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