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Article: Capital of the rich; NY's not-so-idle affluent come from all walks and know how to thrive; many go unnoticed.(Special Report: Wealthy New Yorkers)
- Article from:
- Crain's New York Business
- Article date:
- April 26, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Elizabeth MacBride
One Thursday late last month, Sharon Baum brokered an $8 million deal for an apartment in a Fifth Avenue building. Once, Ms. Baum, a senior vice president at the Corcoran Group, would have found the price tag staggering.
Not anymore. Earlier that same week, she and another broker began marketing two apartments together in the same building for $16 million. They're expecting a bidding war for a place that needs a gut rehab.
"You cannot believe the enormous wealth here,'' Ms. Baum says.
One in every 24 households in the New York area is considered wealthy, the highest concentration of affluent people in the ...