NYC’s most expensive home list is $110 million

As Dow Jones Industrial Average Tariff headlines in global markets were rippling and tariff headlines, in Manhattan, different numbers were turning their heads. The newly listed $110 million penthouse is now the most expensive home in New York City.

The list debuted on April 3rd, which has been recorded in one of Wall Street’s most intense weeks. That day, the Dow fell 1,679 points, passing 4%. The next day, it lost another 2,231 points. The market was fierce as trade policy uncertainty made investors uneasy.

Nikki Field, Satheby’s international real estate broker who represents the Manhattan list, said the market hasn’t rattled her target buyers.

“This buyer segment remains untouched by market volatility,” Field said. “They are not responding to headlines or fluctuations. They focus on curating world-class portfolios, and ultra-prime residential real estate continues to be their core asset class.”

The property in question is a rare bundled offering on top of the landmark Steinway Tower at 111 West 57th St. Penthouse 80 and Penthouse 82, which are sold together as a potential quadplex. Together, there is a 618-square-foot terrace with 11,480 square feet, five bedrooms, six bathrooms, multiple lounges and views of both rivers on either side of Manhattan.

“The houses remain physically separate today, but the opportunity lies in their architectural possibilities,” Field said.

According to Sotheby’s, neither unit is publicly or sold separately.

Since launching Quadplex listings earlier this month, Field says there is a strong interest from buyers.

“Several highly qualified individuals are already on tours asking for housing and there’s real momentum,” she said.

According to a report from Real Deal, Field and her team took over sales at 111 West 57th St. in July, replacing Corcoran Group, becoming the third brokerage since the building was launched in 2018.

In the context, the Griffin acquisition totaled around $10,420 per $10,420. The $110 million listing of 11,480 square feet at 111 West 57th St. is approximately $9,578 per square foot.

Still, Miller warned not to read too much of these empty sales. “They should be seen as a one-off sale that doesn’t stick to the local luxury housing market.”

The field remains very bullish on demand for prime, but some brokers in the wider luxury market are seeing more hesitation.

A recent Wall Street Journal report found that more luxurious buyers are boosting their transactions due to instability.

“The lack of a clear tariff strategy has created economic uncertainty,” Miller said. “And that is expected to slow housing activities.”

According to Realtor.com’s 2025 high-end housing market trends and Outlook report, the wealthiest 10% of Americans own most of their assets in the stock market, with about 36.3% in corporate stocks and mutual funds. Real estate accounted for 18.7% of its total wealth.

“No one likes uncertainty… that’s the worst thing for real estate, and now no one really knows what’s next,” said Douglas Elliman, luxury broker Noble Black, from New York City. “Some clients believe that tariffs can lead to inflation and ultimately lead to higher property values. Other clients use this as an opportunity to move from financial markets to real estate.”

Still, there are signs of resilience in the high end.

33 contracts were signed between April 14th and April 20th, according to the Olshan Luxury Market report, which tracks Manhattan contracts for homes priced at over $4 million.

“It was an incredibly powerful show for the luxury market,” Donna Orchamp said in the report. Especially considering the holiday calendar and market volatility.

In Los Angeles, Aaron Carman, a luxury broker at Christie’s International Real Estate, said the buyer and seller were not on the same page.

“Market split: buyers are cautious and sellers still want prices between 2020 and 2021,” he said. “The gap is whether the transaction dies or is over.”

Still, some sellers are beginning to adjust, Carman said.

“We’ve seen quietly offering something that’s been quietly cut off rather than being advertised to certain buyers and brokers,” he added. “It’s about staying competitive while still being aware.”

And buyers are becoming more strategic, he said.

“They’re active, but they’re conservative,” Kayerman said. “They are negotiating more vigorously to round out prices, furniture and flexibility.”

Kirman noted that the increased attention also extends sales timelines.

“What previously took 3-6 months might now cost 9-12 unless it’s a turnkey property that checks all the boxes,” Kayermann pointed out. “We need more patience now.”

In South Florida, luxury brokers Senada Adzem and Douglas Elliman highlighted that the high-end luxury market is not declining, but will change.

“It’s a seller that adapts to today’s more discerning and uneasy buyers,” she said.

According to Adzem, buyers in the $5 million to $10 million focus on lasers, carefully assessing whether comparisons and whether homes meet lifestyle needs.

“There’s definitely more negotiation and selectivity in that space,” Adzem said.

But she said priorities will change for the $20 million or more class.

“Buyers at that level pursue rarity, trophy traits, and irreplaceable waterfronts. When the right opportunities surface, price is important, but not of the utmost importance,” she said. “At the very edge, it’s about securing unique assets that are less market timing and fit your long-term vision and legacy.”