New York City consistently ranks as one of the most expensive locations globally for real estate acquisition. While areas like Billionaire’s Row on 5th Avenue are synonymous with ultra-luxury living, a specific stretch in downtown Manhattan is emerging as a contender for the city’s most elite residential address: West 11th Street in Greenwich Village. Specifically, the block of West 11th Street nestled between 4th and Bleecker Street, a mere 500 feet in length, has quietly transformed into an enclave attracting an unprecedented level of wealth.
This particular block of 11th Street Nyc has long been associated with prominent figures. Celebrities such as Sarah Jessica Parker and Matthew Broderick, Liv Tyler, and media magnate Rupert Murdoch have all called this street home. However, recent real estate transactions indicate a significant shift, suggesting that even affluent millionaires may soon find themselves priced out of this increasingly exclusive Manhattan haven. The escalating property values on West 11th Street signal its ascent into a realm of ultra-luxury, potentially surpassing even the famed Billionaire’s Row in terms of exclusivity and desirability for the world’s wealthiest individuals.
In 2019, the Wall Street Journal aptly dubbed this section of West 11th Street a “power block,” highlighting the influx of high-profile buyers and significant renovations. Notable figures such as Chipotle founder Steve Ells and Softbank CEO Marcelo Claure joined established residents like Melissa Schiff Soros, ex-wife of George Soros’s son, and Stuart Peterson, cofounder of a venture capital firm. Further solidifying this trend, a Curbed report this week pointed out that several high-profile residents have recently vacated their newly renovated properties, many of which were converted from multi-family buildings. This exodus paves the way for an even wealthier demographic to claim residence on this coveted street. Illustrative of this property value surge, Liv Tyler sold her townhouse in 2019 for $17.45 million, a substantial increase from the $2.53 million she paid in 2001. Similarly, Vicki Been of NYU’s Furman Center of Real Estate and Urban Policy sold her townhouse in 2022 for $18.8 million, a property she acquired for $1.88 million in 2002. These sales underscore the exponential growth of real estate values on 11th Street NYC.
Recent transactions further cement 11th Street’s status as an ultra-luxury destination. Just last week, two more significant properties on this block changed hands for staggering sums: $26.75 million for an 8,000-square-foot townhouse and $15.9 million for a five-unit, four-story building. These sales, devoid of rental options on this particular stretch of West 11th, firmly establish the street as a domain exclusively for the super-rich homeowner.
Tal Alexander, cofounder of luxury brokerage Official, remarked to Curbed about the potential of renovated megamansions on this nascent Billionaire’s Row. He suggested that these properties could command prices “in the $100-million-plus price point” should they ever be listed. A prime example is Sarah Jessica Parker and Matthew Broderick’s combined townhouses, acquired for $34.5 million in 2016 and transformed into a single residence by architect Morris Adjmi. While 11th Street NYC may lack the towering skyscrapers characteristic of Billionaire’s Row overlooking Central Park, this tree-lined avenue, geographically situated in Greenwich Village but embodying the spirit of the West Village, is rapidly becoming equally unattainable for all but the top one percent of New York City’s wealthiest inhabitants.
