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Proving New York's Blockbuster $100M Sale Is An Outlier

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This week, real estate appraiser, Curbed graph guru, blogger, and podcaster Jonathan Miller charts 120,000 Manhattan sales.

Finally, after nearly two years of referring to the $88 million sale at 15 Central Park West as the "highest Manhattan residential sale on record," we get a change of scenery. A new record was set with the $100.47 million sale of the penthouse at One57 recorded late last week. Timing is everything, although, in this case timing really wasn't. I believe this sale went to contract in 2012, which would be shortly after the $88 million sale went to contract in December 2011 and closed in early 2012. While these super luxury sales are more of a circus sideshow and have little, if anything, to do with the vast majority of the Manhattan housing market, I find them surreal to consider.

To mark the occasion, I thought I'd update "the tallest chart in the history of Manhattan real estate," which I presented on Curbed after the $88 million sale closed in 2012.

The chart above is the "short" updated version, presented in $10 million increments so we wouldn't break Curbed's servers. My 90 story super tall chart, pictured below, broke my software—there are 120,000 records behind this chart—but provides desperately needed context for these high end sales to the rest of the market. Make sure you go to the upper right hand corner to find the $100.47M closing, and then scroll down. It's a long way to the bottom.

· $100 Million One57 PH Officially Closes, Breaks NYC Record [Curbed]
· Three Cents Worth: Charting Manhattan's Sales History [Curbed]
· Three Cents Worth archives [Curbed]

One57

157 West 57th Street, Manhattan, NY 10019 Visit Website