Luxury and Trophy Real Estate Records — 2026-09-15
A Zaha Hadid-designed penthouse in Miami sold for $22 million, while a Palm Beach mansion listed for $195 million aims for a local record. Meanwhile, Greece announced a steep increase in property transfer taxes for non-EU buyers, potentially reshaping the Golden Visa investment landscape, and New York saw significant transactions including a $23 million UES maisonette sale.
Luxury and Trophy Real Estate Records — 2026-09-15
Top developments
Zaha Hadid Miami Penthouse Sells for $22 Million
A nearly 9,200-square-foot penthouse at One Thousand Museum in Miami, designed by the late architect Zaha Hadid, recently sold for $22 million. The five-bedroom residence features a sweeping wraparound terrace and represents one of the notable trophy sales in South Florida this week.
Palm Beach Mansion Lists for $195 Million Potential Record
A waterfront mansion at 1616 South Ocean Boulevard in Palm Beach has listed for $195 million, positioning itself as a potential record-breaker for the area. The nearly 20,000-square-foot home sits on two acres with dual access to the intracoastal and Atlantic Ocean, targeting the ultra-high-net-worth demographic on "Billionaires' Row."
NYC: Late Hotelier’s Maisonette Sells for $23 Million
In New York City, a duplex maisonette at 2 East 70th Street on the Upper East Side signed a contract for $22.5 million. The property, formerly owned by the late hotelier Robert Burns, had been on the market since 2016 with an asking price of $29 million, reflecting a market correction in prime Manhattan residential assets.
Greece Raises Property Transfer Tax to 15% for Non-EU Buyers
Greece plans to increase the property transfer tax for non-EU buyers from 3% to 15% starting July 1, 2027. This significant hike is expected to impact Golden Visa investors, who typically purchase residential real estate to qualify for residency, potentially cooling demand from international buyers in the luxury segment.
Local view
Le Parisien reports that the City of Paris is struggling to sell its prestigious hôtels particuliers (private mansions). Two properties remained unsold after a first auction attempt in late 2025, despite lowered entry prices. Luxury real estate professionals remain skeptical about the municipal approach, citing "not few obstacles" (pas mal d’obstacles) in the current high-end market.
Context & numbers
Knight Frank Prime International Residential Index (PIRI): The global prime residential market showed resilience with a 3.2% average price increase in 2025. Of the 100 markets tracked, 73 saw prices rise while 24 declined. This data underpins the continued strength of trophy assets despite broader economic headwinds.
Singapore Resale Record:
A five-room flat at The Pinnacle@Duxton sold for S$1,701,000 (approx. US$1.27 million), setting a new Central Area resale record for that flat type at $1,477 per square foot. While not a "mansion" sale, it reflects the intense liquidity and record-chasing behavior in Asian prime markets.
On the radar
- Greece Golden Visa Deadline: Investors have until July 2027 to lock in the lower 3% transfer tax before the jump to 15%, likely driving a rush of transactions in the Greek luxury market over the next year.
- NYC Pied-à-Terre Tax Confusion: Reports indicate that Mayor Mamdani's proposed pied-à-terre tax is causing confusion rather than immediate capital flight, with wealthy buyers adapting strategies rather than fleeing Manhattan en masse.
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