Billionaires’ Row has earned its nickname.
57th Street in Manhattan, which is lined with a handful of supertall luxury buildings built in the past decade, is the street with the most expensive properties in the world, according to a new study.
A new report from Douglas Elliman and Knight Frank tallied the number of homes sold for more $25 million since 2015 and determined that the Midtown corridor has logged 41 — more than any other global thoroughfare.
It’s just one of four New York City streets in the Top 10. Central Park South, Park Avenue and Fifth Avenue also saw double-digit sales of $25 million-plus properties in the past five years.
The other most expensive streets were Hong Kong’s Mount Nicholson Road, Mount Kellett Road and Conduit Road; London’s Grosvenor Square; the Pacific Coast Highway in Malibu, Calif.; and Palm Beach, Fla.’s South Ocean Boulevard.
The 41 qualifying deals on 57th Street — home to über-fancy, new-construction condo towers including One57, 432 Park Ave., 111 W. 57th St. and Central Park Tower — had an average price of $38.5 million.
One of the transactions that pushed 57th Street over the top is hedge-fund manager Bill Ackman’s $91.5 million purchase of a 13,500-square-foot duplex at One57, located at 157 W. 57th St., in a deal that closed in early 2015.
Just two spots behind, in No. 3, nearby Central Park South had a total of 32 home sales of more than $25 million. The most notable is Citadel chief Ken Griffin’s $238 million deal for a roughly 24,000-square-foot apartment inside exclusive 220 Central Park South. That deal, which closed in early 2019, not only crushed the record for the priciest home ever sold in New York City but also nabbed the superlative of most expensive dwelling ever bought in the US.
Though Central Park South had nine fewer sales above the $25 million mark than 57th Street during the 2015-to-2019 span, its average price per transaction was higher: $44.9 million.
Park and Fifth avenues come in, respectively, fourth and seventh places on the list.
Park Avenue saw 20 sales priced above $25 million, with a $43 million average sale price, while Fifth Avenue had 10, with a $55.7 million average.
Similar to New York, Hong Kong snagged three spots in the Top 10. In No. 2 was Mount Nicholson Road, with 35 sales over the $25 million minimum — and the highest average sale price of all the streets: $81.8 million.