Welcome back to The Brokerbabble Glossary, where we take a word or a turn of phrase that seems to show up in an unreasonable number of listings and decipher its true meaning. If you have any ideas for us, send them to the tipline. Today's word: Trophy.
There isn't one widely agreed upon definition for what constitutes a "trophy property." According to Wikipedia, a trophy property is "in the top 2% of properties in a given subcategory." A New York Times article found that a trophy property could be a one over $20 million or something designed by a famous architect or in a great location or a place where the neighbors are celebrities or any penthouse. That's pretty broad, but one thing that we can all agree on, hopefully, is that the phrase "trophy studio" is thoroughly ridiculous.
Sometimes they give trophies just for participating, right?
Well that's just not a thing.
The City Spire penthouse undoubtedly does qualify as a trophy, but it's sort of like a trophy that some guy made for himself and glued a whole bunch of rhinestones on.
· The Brokerbabble Glossary archives [Curbed NY]
· The Brokerbabble Glossary archives [Curbed National]