Wealthy New Yorkers Say Goodbye to Suburbs, Hello to City

Wealthy New Yorkers are no longer fleeing Manhattan for the sprawling estates of Westchester — in fact, the bucolic burbs have become a tough sell, with buyers instead plunking down their millions on mansions in the sky.

Only 11 $10 million-plus estates in Westchester have sold in the past seven years, records show.

Meanwhile, the number of New York City homes that sold for more than $10 million was 1,355 for that same period.

“The stats are pretty amazing,” said real estate appraiser Jonathan Miller, who compiled the statistics for The Post.

In the first quarter of 2015, no homes in Westchester actually sold for $10 million or more.

Compare that to 36 homes that sold for $10 million-plus in New York City for the same time frame.

The most that one of those homes sold for was a whopping $77.5 million. It was a stunning duplex at 834 Fifth Ave. on the 11th and 12th floors.

Last year, only three homes sold for more than $10 million in Westchester, compared to 225 in the city. The most a home sold for in the city that year topped $100 million.

Read More…http://nypost.com/2015/05/11/wealthy-new-yorkers-say-goodbye-to-suburbs-hello-to-city/

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