New York City: Start Spreading the News, Manhattan is Here to Stay

“If I can make it there, I’ll make it anywhere!” declares the famous song—and few purchases signal success like owning a piece of the Big Apple, especially a luxurious one in Manhattan. Regularly topping worldwide indices such as the Brand Finance City Index 2023—where New York ranked first for global significance and second behind only Zurich for the best cities to invest in—its perennial allure attracts the best and the brightest.

“New York will always be a gold standard for urban living among high-net-worth individuals. There is nowhere else in the world where you have such ease of access to the best culture, schools, society scene, dining, and shopping,” says Shlomi Reuveni, Christie’s International Real Estate Group’s Chief Strategy Officer in New York City. “A purchase in one of Manhattan’s best buildings is as good a safeguard for capital as any bank.”

The city’s residential real estate market has weathered myriad storms, but in the third quarter of 2021, more apartments were sold in Manhattan than at any other time in more than three decades, with prices averaging nearly nine percent higher than in the same quarter of 2019, and luxury sales fueling the rebound.

Through December 2021, nearly 1,900 contracts were signed at or above $4 million—the most since at least 2006. Sales in this price bracket continued their impressive run over the past two years, surpassing $10 billion in 2022, while sales of New York City homes worth $20 million and above surged 300 percent year-over-year through the third quarter of 2023.

One of the most intriguing trends currently shaping the market’s highest echelons is the growing demand from domestic buyers and foreign ones—lately predominantly from Asia, India, Europe, and the Middle East—for amenities that rival those of the world’s most exclusive hotels.

Related: Discover “Manhattan by the Sea” at The Atlantic Club

“Real estate is always ‘location, location, location,’ and obviously that’s very important in New York City, but increasingly, so are a building’s lifestyle aspects,” says Sonja Cullaro, Executive Vice President at Christie’s International Real Estate Group. “Buyers are focusing on construction quality, sustainability features, and amenities like gyms, yoga studios, movie theaters, spas—even Michelin-starred restaurants.”

For areas to watch, Reuveni highlights Hudson Square. Sandwiched between Tribeca, Soho, and the West Village, it’s a stone’s throw from some of the city’s buzziest restaurants, retail, and attractions. Reuveni is also bullish on the Financial District, pointing to the neighborhood’s recent transformation post-pandemic, namely the Howard Hughes Corporation’s redevelopment of the thriving Seaport district, which anchors Lower Manhattan, and the 2023 unveiling of the Perelman Performing Arts Center at the World Trade Center.

A purchase in one of Manhattan’s best buildings is as good a safeguard for capital as any bank—Shlomi Reuveni

The Upper West Side, home to many of the city’s leading cultural institutions, also remains a firm favorite for New Yorkers. “It’s one of the city’s greatest neighborhoods—an equally picturesque and quiet respite, as well as one of the most convenient and transportation-rich enclaves with a fantastic cultural scene,” Reuveni says.

If history serves as any guide, the Manhattan market will continue to attract savvy buyers, with the tri-state suburban markets adding attractive new possibilities into the mix.

“New York City is the real estate capital of the world, and will continue to be the real estate capital of the world,” says Cullaro. “Despite inevitable global challenges, Manhattan real estate will remain the safest opportunity to not only grow your investments, but also to protect them.”

Read on for your essential guide to discovering the urban magic of Manhattan, Brooklyn, and beyond, from the people who are lucky enough to call the city their home

Caroline Seabolt

Head of Sale, Associate Specialist for American Art, Christie’s

What brought you to New York City? I wanted to break into the art world.

Where do you live? Carroll Gardens, Brooklyn. It’s a vibrant neighborhood with a lot of long-time and new residents. My partner and I live in a home that has great light, with floor-to-ceiling windows that make it feel very spacious.

What makes Manhattan so special and unique? There is an energy in Manhattan from walking the streets that I think is very distinct. There is nowhere else like it.

Why has New York inspired so many artists? I think the range of architecture, people, and history one can experience here lends itself naturally to the artistic platform.

Who are your favorite NYC artists? I love Precisionism, so artists like Charles Sheeler and George Ault’s Precisionist depictions of city life are among my favorites. Georgia O’Keeffe’s New York paintings are also fantastic.

And your favorite galleries and museums? A first love will always be The American Wing at the Met, and then of course the Brooklyn Museum is special, too.

Cheryl Eisen

CEO, Interior Marketing Group

You’re a native New Yorker? Yes, I grew up in Manhattan on the Upper East Side.

Where is home today? For the past few years, I’ve split my time between NYC (where my company IMG is based) and Miami, where I’ve been growing its presence. In New York, I recently moved from a duplex on the Upper East Side to a larger “fixer-upper” in Tudor City on the East Side.

What makes Manhattan so special and unique? In addition to being one of, if not the most culturally diverse cities in the world, New York is the epicenter of fashion, finance, food, and film. The city’s history includes timeless architecture, iconic landmarks such as the Statue of Liberty and Ellis Island (where my great-grandparents arrived from Europe), and its ever-changing skyline.

Tell us about a recent project you’ve worked on. One of our latest projects was staging a residence on Billionaires’ Row in the illustrious Central Park Tower. As the world’s tallest residential tower, to say it’s breathtaking is an understatement.

Who are your favorite NY designers? Kelly Behun, Jonathan Adler, Brad Ford, and of course the designers at IMG.

You also work in the Hamptons—why is it such an attractive place? The Hamptons is like the city’s chic, beachy cousin. Interiors here are less fussy, more laid-back. It’s a refreshing perspective as well as a great place to escape from NYC summers.

Alex Ohebshalom

Owner, The Fifth Avenue Hotel

When and why did you come to Manhattan? I’ve been living in Manhattan for 16 years—I grew up in Long Island, but I feel like a native New Yorker because my family has more than 50 years of deeply rooted history here.

Where do you live and what’s your home like? I live on Gramercy Park. I was drawn to the architecture, the old-world 1920s feel, with 16 foot-high (4.9 m) ceilings, beautiful moldings, and amazing light.

What makes Manhattan so special and unique? I’ve always been amazed by how Manhattan kind of crashes over you—while its cultural roots are so deep, it’s growing and evolving and gentrifying at a very fast pace. Nothing ever goes stale here. And while the energy that the city breeds can make someone absolutely crazy, it’s utterly unique.

The energy in Washington Square Park is totally infectious, and the true embodiment of New York City—Alex Ohebshalom

Tell us about your hotel. The Fifth Avenue Hotel, acquired by my father in 1978, is on the site of a mansion that was, during the Gilded Age, owned by the Goodridge family, one of the last aristocratic families in that southern corridor of Fifth Avenue. When working on the hotel with acclaimed designer Martin Brudnizki, I wanted to recreate something that feels like the home of an erudite collector and aficionado who had traveled the world and collected beautiful objects that span cultures and generations.

How would you spend a free day in New York? After a cup of La Colombe coffee, an intense workout, and a light breakfast at abcV, I’d head to Washington Square Park for a few hours to people-watch and shoot street photography—the energy there is totally infectious, and the true embodiment of New York City. After a delicious Italian lunch alfresco at Via Carota in the West Village, I’d spend a few hours at MoMA or the Guggenheim before ending the day back at The Fifth Avenue Hotel with dinner at Café Carmellini, followed by drinks at the Portrait Bar. At the risk of sounding biased, I wholeheartedly believe that right now there is no superior one-two punch for an evening out in New York City.

Suzy Rechtermann

Gallery director, The Gallery at 200 Lex

Where are you from? I’m from Westchester, New York. I came to New York City to pursue a career in magazine publishing.

Where do you live and what’s your home like? The Upper East Side. I live in a light-filled one-bedroom apartment, which has a mix of traditional and some modern pieces. I am a real fabric junkie—I have Schumacher, John Robshaw, Brunschwig & Fils, and Cowtan & Tout represented!

Do you live your ‘brand’ with lots of antiques? Yes, I love antiques and vintage. Most of my furniture is repainted vintage that my mom, who is an artist, has painted for me—a favorite is a chest painted in a beautiful faux bamboo.

What makes Manhattan so special and unique? The variety of neighborhoods. Each feels like its own little town, and makes it feel like you don’t have to leave the island to experience something totally different from the area you live in.

Who’s your favorite New Yorker? I have to say my doorman, who is the sweetest, kindest person and always makes me feel so at home when I walk into my building.

How would you spend a free day in New York? I would start off with a run around Central Park Reservoir or a Pilates class at Equinox, then go shopping at the stores above, a latte and a muffin on the run from By the Way Bakery (best gluten-free bakery in NYC) and dinner downtown at one of my favorites: Raoul’s, Le Coucou, or Tamarind (which would include their spicy margarita).

David Rockwell

Founder and president, Rockwell Group

Where in New York are you based? Our office overlooks Union Square, which historically was—and still is—a place of performance, play, and social activism, a collision of uptown and downtown, a place for self-expression. It transitions with the seasons and with the decades, bringing fresh colors, ideas, and cultures. It’s always a source of inspiration for me.

What makes Manhattan so special and unique? I see the city as a giant auditorium. It invites action and prompts how we perform in everyday life, in a way that I think only happens in New York. It’s the qualities of our public space and the pedestrian experience that gives us the urban theater of New York that I find so energizing.

Which NY building would you like to live in? I’ve always loved the Beresford on Central Park West, which was built in 1929 and designed by Emery Roth. It’s a regal example of the residential architecture of that pre-war time.

Tell us about a recent New York City project you’ve been working on. We recently designed the lobby and the new Marcus Samuelsson restaurant, Metropolis, for the Perelman Performing Arts Center (PAC NYC), which is located at the northeast corner of the World Trade Center site. This is an incredible new community space for Lower Manhattan, in a gorgeous jewel of a building designed by REX in collaboration with Davis Brody Bond.

How do you think New York has changed over recent years? New York City is constantly changing, shedding, and regenerating. My feelings about New York only deepened during the pandemic, when it was made clearer to me how much we rely on our community of strangers.

David Mann

CEO and president, MR Architecture + Decor

What brought you to NYC? I was born in Philadelphia and was mostly raised in Phoenix, Arizona. I arrived in New York in the mid-’70s to study architecture and have called the city home ever since.

Where do you live and what’s your home like? I live at United Nations Plaza in an apartment in one of the modernist glass-walled towers designed by Wallace Harrison and Max Abramovitz in 1966. The home I share with my partner Fritz Karch is fairly minimal, furnished with a mix of pieces that are both new and vintage, and a few pieces of art that I’ve had a long time and have special meaning.

What sets New Yorkers apart from other people? Living in New York can be challenging in that it is extremely competitive and aggressive, but it does tend to build character, so I would say what sets us apart is that we are maybe more resilient, more open-minded, more ready for the unexpected.

Tell us about a recent New York project. We are currently working on a jewel box of an apartment for a world-renowned fashion designer.

Is there a cultural highlight that you love? Donald Judd’s living and working space at 101 Spring Street, for the Judd Foundation’s thoughtful preservation of Judd’s way of living that has had a profound impact on how many people live today.

Which are your favorite bars and restaurants? The Centurion for the view, The Oyster Bar for the atmosphere and tiled vaults, and Deux Amis, where my partner, dog, and I dine frequently.

Susan Clark

Founder and designer, Radnor

Where’s home? My studio and home are in Brooklyn and the Radnor Gallery is situated on Manhattan’s Upper East Side. My Brooklyn brownstone apartment is nestled in the old Italian neighborhood of Carroll Gardens. I love watching the seasons change and using my apartment as a testing ground for new products and color palettes.

What makes the place so special? The energy of New York City is truly unparalleled; there is no other city that brings the rest of the world together in the way that NYC does. It is a contagious experience, witnessing the creative engine flowing out from design, art, film, fashion… There is this wonderful history of wild abandon in New York, many art and cultural movements have launched from this thriving metropolis.

Which are your own go-to shops? For fashion, my current favorites are La Garçonne, Oroboro, and C’H’C’M’ in the city. For small gifts and accessories, I am a fan of The Primary Essentials, Love Adorned, and Clic.

How would you spend a free day in New York? The last time I played hooky in the city, I took some design friends out for a sail around the Hudson River. We took time looking at the architecture and enjoying the city from afar, then walked through the newer Little Island park, followed by a visit to the latest Whitney exhibition and ended with martinis and a New York steak dinner at Hawksmoor.

Chris Munro

Head of Wine & Spirits Department, Americas, Christie’s

Where are you from and why did you come to New York? I was born in Kent in the U.K. My grandparents ran a town-center pub, so I spent my formative years helping my grandfather bottle up and clean the brass plates that hung on the walls. I moved to New York in 2018 with a transfer from Christie’s wine department in London. I grabbed the opportunity with both hands.

Where’s your favorite place in NY for a glass of wine—and where do you buy yours? The East Village offers some interesting modern, natural wine bars such as Ruffian, which is a great spot on East 7th Street. Closer to home, I often pop into Franks Wine Bar on Court Street—great small plates and an extensive list. For buying, close to work Morrell & Company has all the classics and an extensive Italian list. Astor Wines, a huge store on Lafayette Street, offers an amazing selection from around the globe.

Which are your favorite restaurants? I had a great meal recently at Keens Steakhouse, an institution on 36th Street. The Union Square Cafe is one of my favorite places in the world, with a real New York feel. They always give me a table on the gallery floor—great for people watching.

How would you spend a free day in New York? Simply walking. Start at the ferry terminal on the bottom of the island and wander. Pop into Trinity church and meander up to the West Village. Grab a beer in the White Horse Tavern and then head to Lucali for pizza and free corkage. It’s a city to see from the street, there’s no better way to get around.

Stephen Mitchell

President, Designlush

What brought you to NYC? I’m originally from Iowa. I moved to New York City in 1996 after college to explore commune living, and that was a wonderful experience but not something that I could commit to. I started my design career from there.

Where’s home now? A pre-war building—comfortable with a killer view on the Upper West Side. I also have a home in Miami Beach, which has an open floor plan and modern decor, scattered with some of my favorite personal collection pieces that I’ve acquired over the years.

What makes Manhattan such a special and unique place to live? The people! New Yorkers do things differently—they are very direct and decisive—they tell you what they like and what they don’t like. You know where you stand with New Yorkers.

Who are your favorite NY designers? Kelly Behun, Amy Lau, Peter Marino, Ingrao, Grade Architecture, Vanessa DeLeon…

Which are your favorite New York galleries and museums, and why? I mean they are all great for different things. From the Guggenheim to the American Museum of Natural History and all of the great art galleries in the Meatpacking District, it’s just rich with inspiration and exploration and you can never get your fill. There is always something amazing happening to see.

Tell us about your favorite shops… My go-to on Madison Avenue is Louis Vuitton—literally anything I can afford and don’t have. They have some fantastic new pilot collections from designers.

How would you spend a free day in New York? With my dog in Central Park, catching up on phone calls owed to all of my friends and family.

Mesmerised by Manhattan? Browse a grand selection of New York City properties and read more from the Spring/Summer 2024 issue of Christie’s International Real Estate magazine here.

Banner image: The Art Deco style of the Chrysler Building contrasts beautifully with the modern skyscrapers facing the East River. Michael Lee / Getty Images