Defying all expectations, nay, reality, the market is back, at least at the tippy top, where records were repeatedly toppled. It was the year of the foreigner, particularly the Russian oligarch. But when you look past all the headlines, the Upper East Side and its tony co-ops townhouses still reign supreme—834 Fifth posted three top deals alone—even if they no longer can claim the crown. That belongs, now and probably forever, to 15 Central Park West. At least until they finish the next Tower of Babillionaires across the park.

eknutsen@observer.com