The New York Observer

As the city collectively recovers from the recession, greenbacks are once more flowing freely for the uber rich, particularly in the real estate market. While apartment prices have stabilized since 2008, “ultraluxury” pads, those costing northwards of $7 million, are selling for record prices.

While moderately priced homes are still working to recover pre-Lehman property values, those lucky few sitting on luxurious, or rather ultraluxurious properties, have found their nest egg suddenly re-secured as the demand for high-end hearths has skyrocketed, according to The Times. Read More