{"id":21984,"date":"2016-05-12T09:30:43","date_gmt":"2016-05-12T13:30:43","guid":{"rendered":"http:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=21984"},"modified":"2024-03-14T21:16:16","modified_gmt":"2024-03-14T19:16:16","slug":"how-much-to-live-alongside-the-super-rich","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2016\/05\/12\/how-much-to-live-alongside-the-super-rich\/","title":{"rendered":"How Much to Live Alongside the Super-Rich?"},"content":{"rendered":"

You might think that to enjoy the status boost of living next door to someone on the\u00a0Forbes 500 list<\/a>, you need to boast the bank account of an oil tycoon\u00a0or a college drop-out tech genius. And, 9 cases out of 10, you would be right. Yet in the spirit\u00a0of New York’s “something for everyone”, once in a blue moon you come across that great home in the outrageously perfect location\u00a0with a price tag that is just too good to be true. Yahtzee!<\/p>\n

In Manhattan, a cool, upscale neighborhood means that the rich\u00a0must have already claimed a little part of it as their own. We therefore\u00a0looked around some of the most desirable townhouses and buildings\u00a0that New York billionaires call home to try and find how deep your pockets need to be for you\u00a0to call yourself a\u00a0“neighbor of the super-rich”. And while this title does not come cheap, a few of\u00a0these properties’ asking prices won’t make that many Manhattanites wince.<\/p>\n

See if you can find your financial role model below, and maybe now might be the right time to invest in a new place next door to them. As they say – fake it ’till you make it!<\/p>\n

<\/span>Co-ops Are for Everyone…<\/span><\/h3>\n

Julian Robertson Jr.<\/strong>, the hedge fund wiz, got a co-op unit in the Hampshire House at unit #1009, for example. Another one went for $385,000 earlier this year, half of what the average local pays for a co-op in Manhattan these days.<\/p>\n

Built in 1930, the legendary co-op building at a unit on the market for just under $4M; pretty pricey, but no match for the $30M+ entrance fee to the building that two of these super-rich cohabitants paid in recent years.<\/p>\n

This one was listed on the market just last month, and since no other\u00a0units were sold in the past 24 months, it seems that this opportunity doesn’t come about too often.<\/p>\n

<\/span>Townhouses, Not So Much<\/span><\/h3>\n

Margaretta Taylor<\/strong>\u00a0is one of three heirs to the Cox Enterprises media conglomerate. She owns a townhouse in Sutton Square, just a few steps away from 13 Sutton Place<\/a>,\u00a0which sold for $7.8M in 2014, significantly less than the $10M Margaretta Taylor paid for her home back in 2001.<\/p>\n

Founder and CEO of the WeWork communal work space chain, Adam Neumann<\/strong> bought a townhouse at\u00a041 West 11th Street in 2013\u00a0for more than\u00a0$10M. Another townhouse close by, at 45 West 12th Street<\/a> sold in 2014 for close to $5M, a bargain considering last quarter the\u00a0average single family house in Manhattan went for over $7.6M.<\/p>\n

For those with deeper pockets, but who still shy away from an 8-digit price tag, 245 Waverly Place is currently listed for $8.75M, just one block away from Neumann’s abode.<\/p>\n

<\/span>Prices High and Low\u00a0in One\u00a0Famous Condo<\/span><\/h3>\n

The 51-story tower at 23 East 22nd Street<\/a>\u00a0(One Madison Park) is just one of the buildings where Rupert Murdoch<\/strong> owns property. He bought a unit for no less than $57.3M in 2014 and promptly put it back on the market in 2015 for $72M; no definitive bid has been made yet on the triplex penthouse.<\/p>\n

In the same building, the least expensive unit sold in the past 2 years was the cheapest listing at One Madison Park is a $4.7M 2-bedroom, 2-baths high floor corner condo.<\/p>\n

Find more famous billionaires and available properties around their residence of choice in the table below:<\/p>\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Billionaire<\/th>Address<\/th>Transaction
\n<\/th>		Property Type<\/th>The Least Expensive Sale in the Building or Area in the Last 2 Years
\n<\/th>\n<\/tr>\n<\/thead>\n
<\/td><\/td>Year<\/td>Price<\/td><\/td>Address<\/td>Year<\/td>Price<\/td>\n<\/tr>\n
<\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td>\n<\/tr>\n
Michael Bloomberg<\/td>17 East 79th Street<\/a><\/td>1986<\/td>$3.5M<\/td>Townhouse
\n<\/td>		22 East 78 Street<\/a><\/td>2015<\/td>$12.6M<\/td>\n<\/tr>\n
Rupert Murdoch<\/td>278 West 11th Street<\/a><\/td>2014<\/td>$25M<\/td>Townhouse<\/td>54 Charles Street<\/a><\/td>2014<\/td>$10.75M
\n<\/td>\n<\/tr>\n
23 East 22 Street<\/a><\/td>2014<\/td>$57.3M
\n<\/td>		Condo
\n<\/td>		23 East 22 Street #7B<\/a><\/td>2015<\/td>$1.6M
\n<\/td>\n<\/tr>\n
Sean Parker<\/td>40 West 10th Street<\/a>
\n<\/td>		2011<\/td>$20M<\/td>Townhouse<\/td>60 West 11 Street<\/a><\/td>2014<\/td>$11.5M
\n<\/td>\n<\/tr>\n
Leon Black<\/td>19 East 70th Street<\/a><\/td>2014<\/td>$50.3M
\n<\/td>		Townhouse<\/td>116 East 70 Street<\/a><\/td>2014<\/td>$31M
\n<\/td>\n<\/tr>\n
Margaretta Taylor<\/td>2 Sutton Square<\/a>
\n<\/td>		2001<\/td>$10M
\n<\/td>		Townhouse<\/td>13 Sutton Place<\/a><\/td>2014<\/td>$7.8M
\n<\/td>\n<\/tr>\n
Jerry Speyer<\/td>176 East 72nd Street<\/a>
\n<\/td>		1997<\/td>$3.0M
\n<\/td>		Townhouse<\/td>235 East 72 Street<\/a><\/td>2016<\/td>$10.1M
\n<\/td>\n<\/tr>\n
John Paulson<\/td>9 East 86th Street<\/a>
\n<\/td>		2004<\/td>$14.7M
\n<\/td>		Townhouse<\/td>7 East 84 Street<\/a><\/td>2016<\/td>$27M
\n<\/td>\n<\/tr>\n
Adam Neumann<\/td>41 West 11th Street<\/a>
\n<\/td>		2013<\/td>$10.5M
\n<\/td>		Townhouse<\/td>45 West 12 Street<\/a><\/td>2014<\/td>$4.98M
\n<\/td>\n<\/tr>\n
Glenn Dubin<\/td>1040 Fifth Avenue<\/a>
\n<\/td>		2006<\/td>$32.0M
\n<\/td>		Co-op
\n<\/td>		1040-1044 5 Avenue #14A<\/a><\/td>2015<\/td>$30M
\n<\/td>\n<\/tr>\n
Henry Kravis<\/td>625 Park Avenue<\/a>
\n<\/td>		1994<\/td>$15M
\n<\/td>		Co-op<\/td>623-625 Park Avenue #6A<\/a><\/td>2016<\/td>$13M
\n<\/td>\n<\/tr>\n
Peter Peterson<\/td>810 Fifth Avenue<\/a>
\n<\/td>		2007<\/td>$37.8M
\n<\/td>		Co-op<\/td>810-811 5 Avenue #6FL<\/a><\/td>2014<\/td>$19M
\n<\/td>\n<\/tr>\n
Julian Robertson Jr.<\/td>150 Central Park South<\/a>
\n<\/td>		1994<\/td>$3.9M
\n<\/td>		Co-op<\/td>150 Central Park S #411<\/a><\/td>2016<\/td>$385K
\n<\/td>\n<\/tr>\n
David Koch<\/td>740 Park Avenue<\/a>
\n<\/td>		2004<\/td>$18M
\n<\/td>		Co-op<\/td>-<\/td>-<\/td>-<\/td>\n<\/tr>\n
Stephen Schwarzman<\/td>740 Park Avenue<\/a>
\n<\/td>		2001<\/td>$30M
\n<\/td>		Co-op<\/td>-<\/td>-<\/td>-<\/td>\n<\/tr>\n
Israel Englander<\/td>740 Park Avenue<\/a>
\n<\/td>		2014<\/td> $71.3M
\n<\/td>		Co-op<\/td>-<\/td>-<\/td>-<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n
\n

Methodology:<\/p>\n

The least expensive sales<\/strong> were determined considering transactions for similar properties over the last 24 months (excepting 810 5th Avenue, where the last sale was registered in February 2014):\u00a0units from the same building for co-op and condo\u00a0units, and\u00a0sales within a range of 2 blocks for townhouses.<\/p>\n

The least expensive for sale listings<\/strong> were determined from among\u00a0listings in\u00a0the same building for co-ops and condos,\u00a0and\u00a0within a range of 5 blocks for townhouses.<\/p>\n

All townhouses considered for this list are single family homes (building class A).<\/p>\n","protected":false},"excerpt":{"rendered":"

You might think that to enjoy the status boost of living next door to someone on the\u00a0Forbes 500 list, you need to boast the bank account of an oil tycoon\u00a0or a college drop-out tech genius. And, 9 cases out of 10, you would be right. Yet in the spirit\u00a0of New York’s “something for everyone”, once…<\/p>\n","protected":false},"author":45,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89],"tags":[],"class_list":["post-21984","post","type-post","status-publish","format-standard","hentry","category-manhattan-real-estate"],"yoast_head":"\nHow Much to Live Alongside the Super-Rich? - PropertyShark Real Estate Blog<\/title>\n<meta name=\"description\" content=\"Find out how much you would have to pay to be a billionaire's neighbor in Manhattan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2016\/05\/12\/how-much-to-live-alongside-the-super-rich\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Much to Live Alongside the Super-Rich?\" \/>\n<meta property=\"og:description\" content=\"Find out how much you would have to pay to be a billionaire's neighbor in Manhattan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2016\/05\/12\/how-much-to-live-alongside-the-super-rich\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-12T13:30:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-14T19:16:16+00:00\" \/>\n<meta name=\"author\" content=\"Adela Muresan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adela Muresan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"How Much to Live Alongside the Super-Rich? 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