Key Takeaways
- NYC ranked #2 globally with $27,500 per square meter for prime property.
- A $110 million penthouse atop the world’s slimmest tower reflects the city’s elite housing market.
- Despite the cost, investor demand is strong, fueled by wealth migration and lifestyle appeal.
Brace yourself.
New York City real estate prices just pushed the iconic city to rank #2 globally for the most expensive housing, beating out London and Hong Kong.
But it doesn’t stop there.
If you’re investing, flipping, or even thinking about entering this market, here’s what you need to know:
- New York tops nearly every U.S. city in cost of living and price per square meter.
- Global rankings place NYC behind only Monaco, with four other U.S. cities in the top 10.
- The crown jewel of New York luxury, a $110M quadplex in the sky, is redefining what wealth looks like.
Let’s dig into this volatile terrain and why investors can’t afford to ignore it.
New York City’s Real Estate Costs Are Now Global Spectacles
According to Henley & Partners’ 2025 Wealth Report, New York City ranks second in the world for most expensive prime residential real estate.
At $27,500 per square meter, NYC stands shoulder-to-shoulder with Monaco—a nation where 40% of residents are billionaires.
Here’s the global Top 10 based on price per square meter of prime apartments:
- Monaco – $38,800
- New York City – $27,500
- Hong Kong – $26,300
- London – $24,000
- Saint-Jean-Cap-Ferrat, France – $21,200
- Paris – $20,400
- Sydney – $19,500
- Palm Beach – $18,000
- Miami Beach – $17,800
- Los Angeles – $17,500
Inside the Most Expensive Home on the NYC Market: $110M of Sky-High Luxury
Towering over Billionaire’s Row is 111 West 57th Street, also known as Steinway Tower—the world’s slimmest skyscraper.
The crown jewel?
A four-floor penthouse quadplex listed for $110 million. Spanning 11,480 square feet with 618 square feet of terrace space, this glassy vertical mansion boasts:
- Five bedrooms, six bathrooms
- A 50-foot-long great room with 14-foot ceilings
- A full-floor primary suite with dual onyx-clad bathrooms
- A “crown suite” with bar, screening room, and panoramic views of multiple states
Designed by Studio Sofield and sold via Sotheby’s Nikki Field, the penthouse is the highest residence of its kind in the U.S.—and the latest signal that elite capital is fully embedded in NYC’s skyline.
10 Most Expensive Cities in the US (2025)!
Looking to find out which cities in the United States come with the highest price tags? In this video, we’re counting down the 10 most expensive cities in the US and breaking down why living in these places costs a fortune. From sky-high housing prices to soaring rent costs, we’ll reveal what makes these cities so pricey and why people still flock to them despite the cost.
We’ll dive into the cost of living comparison USA and discuss the reasons behind the expensive real estate in these iconic locations. Whether it’s the thriving tech scene in San Jose, the tropical paradise of Honolulu, or the bustling financial hub of New York City, each city has its own unique reasons for being one of the costliest cities in America.
Wondering why urban living in the USA has become so expensive? Or curious about the pros and cons of moving to costly cities? We’ve got you covered! Let us know in the comments which city you’d choose to live in and why. Don’t forget to like, subscribe, and share this video with your friends!
This video is used under the Creative Commons Attribution license (CC BY).
U.S. Cities Face Surging Costs—But People Still Can’t Stay Away
A recent viral video breakdown of America’s 10 most expensive cities laid bare the economic extremes.
But with average home prices of $850,000 and one-bedroom rents near $4,000/month, NYC is still the most unaffordable by many measures.
And yet, the demand isn’t slowing.
The full list includes: New York City, San Francisco, Honolulu, Boston, Seattle, Washington D.C., San Diego, Los Angeles, San Jose, and Miami.
Why do people still flock to these cities?
It’s simple: opportunity.
Whether it’s Silicon Valley jobs or Wall Street dreams, America’s elite metros offer a mix of money, culture, and ambition that keeps demand sky-high, even when affordability collapses.
Assessment
New York City is no longer just unaffordable—it’s becoming financially impenetrable for the average investor.
The city’s $110 million listings, staggering square meter prices, and relentless demand show that global capital has anchored itself firmly in NYC’s real estate market.
For real estate investors, this signals two things:
- High-end NYC property is no longer about ROI—it’s about prestige and preservation of wealth.
- Entry-level and mid-market strategies (like fix and flip) are shifting out of Manhattan and into outer boroughs or nearby metros.
Whether you’re watching from the sidelines or planning your next deal, understand this: New York is now a luxury product. Not a commodity.
