New York City · $2 Million and Above

Multi-Million Dollar Homes for Sale in NYC

homes listed above $2 million across Manhattan, Brooklyn and Queens. Between $2 million and $20 million the typical residence roughly quadruples in size, and the square foot itself gets about two and a half times more expensive.

Showing 2,804 NYC homes for sale

Buyer Advantage Est.

Buyer Advantage Est.

Buyer Advantage Est.

Buyer Advantage Est.

Buyer Advantage Est.

Buyer Advantage Est.

Buyer Advantage Est.

Buyer Advantage Est.

Buyer Advantage Est.

What Changes as the Budget Rises

New York above $2 million is not one market. The typical home between $2 million and $5 million is about 1,700 square feet; above $20 million it is about 6,800. Over the same span the square foot itself gets roughly two and a half times more expensive, so the money buys more space and a more expensive kind of space: address, light, ceiling height, view, building services.

Houses and townhouses go from one home in seven at the bottom of this range to a quarter above $10 million while the co-operative share nearly halves, and Brooklyn is a genuine alternative to Manhattan at the lower end but effectively disappears at the top. Each range is also its own page: $2 million to $5 million, $5 million to $10 million, $10 million to $20 million, and $20 million and above.

What each budget buys in New York

Every figure comes from the homes above $2 million on the market today.

Size roughly doubles at each step and the foot itself gets more expensive the whole way up, so above $5 million you are buying a materially more expensive foot, not just more of them.

Market snapshot as of August 21, 2026, covering Manhattan, Brooklyn and Queens. Median size and price per square foot are based on listings that report interior square footage.
Price range
Homes
Median size (sq ft)
Median $/sq ft
Co-operative
Houses & townhouses
$2M – $5M
1,307
1,715
$1,798
18%
14%
$5M – $10M
490
2,927
$2,366
15%
20%
$10M – $20M
230
4,093
$3,322
12%
25%
$20M and above
127
6,760
$4,620
10%
24%
Four price ranges above $2 million, each with the number of homes, the median size, the median price per square foot, the share that are co-operatives, and the share that are houses or townhouses.

What the mansion tax costs at each level

Price is not the only number to plan around. The combined New York State and New York City mansion tax steps up with price, and the steps land almost exactly on the ranges above. It is paid by the buyer at closing, on top of the purchase price, and is separate from the transfer taxes a resale seller normally pays.

The rate roughly triples between $2 million and $25 million, so the tax is a materially different line item at the top of this market than at the bottom.

Statutory rates. Figures are illustrative and rounded to the whole dollar.
Purchase price
Mansion tax
Tax due
$2,000,000
1.25%
$25,000
$3,000,000
1.50%
$45,000
$5,000,000
2.25%
$112,500
$10,000,000
3.25%
$325,000
$20,000,000
3.75%
$750,000
$25,000,000
3.90%
$975,000
Six purchase prices from $2 million to $25 million, each with its combined mansion tax rate and the resulting tax due at closing.

The Buyer Commission Share

The Buyer Commission Share is up to 50% of the buyer-side commission actually paid on your purchase. It is not a fixed percentage of the price. Whatever the seller or sponsor pays the buyer’s broker, up to half of it is credited to you as savings at closing.

  • 3% paid to the buyer’s broker returns up to 1.5% of the price to you. On a $6 million purchase, up to $90,000.
  • 4% returns up to 2%. On the same purchase, up to $120,000.
  • 5% returns up to 2.5%. On the same purchase, up to $150,000.

Which of those applies is the seller’s decision rather than ours or yours, and it is negotiated deal by deal. Resales usually sit at the lower end. The higher figures turn up most often on sponsor sales, and sponsor inventory is not a niche here: around one in five homes listed above $2 million in New York is a sponsor unit. A developer carrying finished apartments will sometimes raise the buyer-side commission to move the remaining ones, and that offer can change from one building to the next and from one month to the next. Worth checking before you commit to a building. Not worth counting on.

New development brings costs as well as commission. Sponsors commonly ask the buyer to pay the New York State and New York City transfer taxes a resale seller would normally cover, along with sponsor legal fees and a working capital contribution. Those are negotiable too, and they belong in the same conversation as the commission rather than a later one.

None of this changes the representation: full buy-side advice, negotiation, and diligence on the building as well as the residence. Eligibility applies. See how the Buyer Commission Share is calculated.

BUYER FAQ

Frequently asked questions

Yes. More than 350 homes are listed above $10 million today, and more than 120 of those above $20 million. Almost all are in Manhattan, which holds more than nine in ten of them above $10 million and all but one above $20 million.

Roughly a quarter are houses or townhouses rather than apartments, against about one in seven between $2 million and $5 million; the apartments at this level are typically full-floor or penthouse residences. See $10 million to $20 million, or above $20 million.

Around 2,900 square feet at roughly $2,400 a foot: typically a large full-floor condominium or a prime prewar co-operative. Townhouses become a genuine option here rather than an exception, and you pay more per square foot than at $2 million to $5 million as well as buying more of them.

See what is currently listed between $5 million and $10 million.

Manhattan holds roughly five in six, and inside Manhattan the concentration is tighter still: Lenox Hill, the Upper West Side, Lincoln Square and Tribeca together account for a substantial share of everything above $2 million.

Brooklyn is a genuine alternative at the lower end, around 250 homes between $2 million and $5 million, and effectively disappears above $10 million.

Co-op boards commonly set minimum down payments well above the 20% a lender would accept, and expect post-closing liquidity measured in years of carrying costs rather than months. Condominiums are more flexible, but jumbo lenders still underwrite reserves closely, and the condo versus co-op guide sets out what changes.

Buyers here weigh carrying cost as heavily as price. Common charges or maintenance plus property tax are what gets paid every month for as long as the home is owned, and two residences at the same price can differ substantially on both.

A mix: families trading up for space, buyers relocating into New York for work, pied-à-terre purchasers, and investors. What they have in common is that at this level the building matters as much as the residence.

Financials, sublet and pied-à-terre policy, assessment history and board requirements all shape what a buyer can do with a home after closing, which is why diligence at this price runs to the building as well as the apartment.

As a worked example, $5 million with 30% down leaves a $3.5 million loan; at 6.5% over 30 years that is roughly $22,100 a month before taxes, common charges or maintenance. Change any one of those assumptions and the answer moves a long way, so it is worth modelling rather than quoting.

The building matters before the rate does, because a co-operative board may require far more down than a lender would. The mortgage calculator takes a price, a down payment and a term.

Mansion tax alone runs from 1.25% at $2 million to 3.9% at $25 million and above, as set out in the table on this page. Other buyer closing costs typically add a further 1% to 2% on a condominium and are generally lower on a co-operative.

New development purchases are the exception worth planning for, because sponsors often ask the buyer to pay transfer taxes a resale seller would normally cover. The mansion tax guide explains each step and the closing cost calculator totals what is due on the day.

Commission is negotiated rather than fixed, and the share offered to the buyer’s broker is set by the seller or sponsor, not by the buyer.

What is fixed is what happens to it here: on a purchase handled by Régis Roumila, up to 50% of the buyer-side commission he receives is credited to the buyer as savings at closing. Where 3% is offered to the buyer’s broker that is up to 1.5% of the price returned to the buyer; where 4% is offered, up to 2%. It varies by property and is subject to eligibility. See how the Buyer Commission Share is calculated.

Black and White Portrait of Régis Roumila

Regis Roumila

Licensed Real Estate Broker · NY & NJ

NY DOS Licence
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Memberships
REBNY & NAR Member
Experience
Over 25 Years of Local Expertise

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Every eligible purchase above $2 million earns a Buyer Commission Share: up to 50% of the buyer-side commission actually received on the transaction, credited to you as Savings at Closing.

Around homes above $2 million are on the market today. Tell me the budget, the borough and how you plan to use the home, and I will narrow that to the ones whose building rules and financials actually fit.

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