Downtown Manhattan is experiencing a shift from an artsy enclave to a luxury real estate market, with property values surging. The sale of a duplex for $60 million signifies this change, driven by affluent professionals from nearby finance and tech companies. Major firms such as Google and Jane Street Capital are establishing a presence in the area, leading to increased demand for upscale residences. In just the past five years, more high-end home sales have been recorded than in the prior decade, highlighting the neighborhood's transformation into a wealthy playground.
"There's a whole bunch of very wealthy people working in the vicinity, meaning they often want to live in the vicinity," Compass broker Clayton Orrigo told the outlet.
"It's one of the wealthiest corporations on the planet," said Leonard Steinberg of Compass. "That changes the profile of the neighborhood."
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