Tribeca took the crown for the hottest neighborhood in Manhattan luxury sales last week, nabbing the top two priciest sales in the borough.
The lower West Side neighborhood, which John F. Kennedy Jr. and his bride, Carolyn Bessette, did much to make famous, has continued to push toward the Hudson River with new luxury residential skyscapers.
Last week’s top two sales were coincidentally on the same street, with contracts signed at 111 Murray St. and 71 Murray St. Both were penthouse condos.
“I like to call it ‘Tribeca lite,'” says Brown Harris Stevens agent Lisa K. Lippman, who not only represents real estate in the neighborhood, but also lives in it. “It’s not prime Tribeca.”
The broker says “prime” Tribeca would be around the the area of Duane and North Moore Street. (JFK Jr. and Carolyn lived in 20 North Moore St.)
But as prime Tribeca filled up, development spread east and west—with the western edge closer to sweeping river views, as well as the Hudson River Greenway bike path and all of the riverfront parks and piers.
“The area feels less residential,” she tells Realtor.com of Murray Street and the surrounding streets, which are packed with glass skyscrapers. “There’s always people who want to be on a higher floor, have a lot of amenities, but pay a little less.”
The top sale for the week ending Nov. 1 was Penthouse One at 111 Murray St., with an asking price of $33.95 million. The penthouse, inside a 64-story tower built in 2018 and designed by architect David Mann, was a sponsor sale.
The sprawling, extra-large unit—at 7,675 square feet with five bedrooms and 6.5 bedrooms—was snapped up by Richard Saghian, the founder and chief executive of Fashion Nova, for $31 million, according to multiple reports.
According to Forbes, the 45-year-old fashion mogul is worth $2.1 billion and is the No. 1,900–ranked richest person in the world.
The penthouse will be added to his growing property portfolio, which includes a $141 million Bel-Air mansion and two Miami Beach properties: a $30 million double lot and a $32 million estate.
His latest acquisition offers 360-degree views of New York Harbor, as well as 233 square feet of private terraces with which to enjoy them.
The sweeping river views really helped move the property, says listing agent Emily Sertic of Douglas Elliman, who has headed up sales in the building since its launch.
“You’ll capture a glimpse of Central Park, the Empire State Building, all the historic bridges, the rivers, and the harbor,” she says. “From its view line only, it really encompasses an incredible experience of New York. Everywhere you turn, there are these astonishing view lines that just go on and on.”
“The view line and the grandeur of the space for entertaining was really important,” she says of what helped attract the billionaire buyer, who was represented by Ryan and Emilia Serhant of Serhant.
The great room alone is over 2,000 square feet, says the broker, and boasts an eat-in kitchen, butler’s pantry, and private terrace.
Another lure was the rare five bedrooms.
“Whether it’s for work, entertainment, guests, or family, the bedrooms were a huge draw to the space,” she says.
Saghian, the college dropout son of Iranian immigrants, is reportedly single with no children.
The fast-fashion mogul appears to appreciate a real estate deal—creditors of his Bel-Air mansion originally wanted $295 million at auction and a judge had to approve the sale because of the relatively low price it ended up fetching. And the Tribeca penthouse originally asked for $50 million back in September 2025.
“It has all the features that any trophy buyer is looking for,” says Sertic.
Some of those features fit for a billionaire include a chef’s kitchen with Wolf, Miele, and Sub-Zero appliances, dual fridges and dishwashers, a 60-inch custom gas cooktop, multiple ovens, and a full-height wine refrigerator.
The full-service luxury building contains the usual array of amenities one would expect at this price point.
There is a 24/7 door attendant, concierge service, and valet team; a full-service wellness center and spa complete with hammam, treatment rooms, and a 75-foot lap pool with private cabanas; a fitness center; a children’s playroom with splash pad, and a teen arcade room. There’s also a private dining room, screening room, and landscaped garden.
The penthouse comes with a $36,000 monthly fee, including HOA dues and taxes.
More Murray Street
The second top sale of last week was also on Murray Street. The glass-walled triplex penthouse at 71 Murray St. is a four-bedroom, 4.5-bath unit with a price tag of $18.5 million.
Listed by Jeremy V. Stein of Sotheby’s International Realty, the sprawling 6,700-square-foot condo included an astonishing 3,148-square feet of terraces, including two roof terraces decked out for entertaining with a full Viking kitchen, fire pit, and dining area. There is also a floating glass staircase and 36-foot climbing wall.
Topping a boutique building with only 12 residences, the penthouse has monthly common charges and taxes totaling $17,232.
The two downtown top sales aren’t that unusual—the former warehouse district has been trendy since the late Kennedy scion took up residence there in the early 1990s. (Actor Robert DeNiro—who moved there in 1981—can truly claim pioneer status.)
Sertic says the typical neighborhood buyers tend to be “youngish buyers and their families” who work in the surrounding neighborhoods, especially the Financial District.
“A lot of our buyers walk to work,” she says. “They are high-performing and fast-moving, so convenience is huge.”
Despite Tribeca nabbing the top two sales, it was the Upper East Side that pulled the most luxury (over $4 million) contracts again this week. Of the 34 contracts signed, the UES dominated with the highest amount of sales for the 10th time this year.
As is usual, condos outsold co-ops, 17 to 12. However, with only five sales between them, co-ops are holding their own.
The upward sales trajectory of co-ops—where buyers tend to be subject to a rigorous board approval process—is likely the effect of luxury inventory being so slim, say experts.
It also probably helps that co-ops often trade lower than condos, with an average ask of $6.48 million versus $10.44 million for condos, according to Olshan Realty.
The most expensive co-op of the week was a new build, constructed in 2023. The Lenox Hill penthouse at 200 East 75th St. had an asking price of $16.85 million.
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