America at 250: a global destination for prime property

“Alongside families moving to New York, we continue to see strong demand from buyers seeking lock-and-leave homes that can be enjoyed several times a year,” says Jason Mansfield, Knight Frank’s Head of US Residential Sales. “Branded residences also remain highly sought-after, offering a seamless ownership experience with concierge-style services and lifestyle amenities.”

The distinct character found across the city remains central to its appeal. The Upper East Side has seen a particular resurgence, with its elegant pre-war buildings and classic townhouses offering proximity to high-end dining, world-class retail and leading cultural institutions such as The Met, Guggenheim, and The Frick Collection.

“One of the fantastic things about New York is the diversity of its neighbourhoods and the properties you’ll find there,” adds Mansfield. “Whether that’s the apartment buildings of Midtown or the loft-style apartments typical of Tribeca.”

Further strengthening access to prime real estate, Knight Frank’s jointly branded alliance with Modlin Group unlocks some of the finest homes across New York and the Hamptons. Founder Adam D. Modlin has discreetly overseen some of the city’s most significant transactions, including the $55 million sale of 8 East 62nd Street and the $57 million penthouse at 70 Vestry Street.

The Hamptons: a social, coastal retreat

In the Hamptons, Modlin’s recent activity includes landmark deals such as a $115 million estate on Further Lane in East Hampton and a $72 million property on East Dune in East Hampton. These transactions underline the enduring appeal of this exclusive coastal retreat, which continues to attract both New Yorkers and an international audience.

According to The Wealth Report, the Hamptons recorded a 52.2% price increase over the past five years, highlighting both its investment strength and lifestyle desirability.

“There’s an old saying that proves true time and again: ‘You don’t know how many friends you have until you own a house in the Hamptons,’” notes Mansfield. “Life here revolves around the social scene, where you could be at a charity gala with Robert De Niro one night and at dinner sitting next to a Supreme Court Justice the next.”

The Hamptons remains deeply family-oriented, with many buyers having long-standing ties to the area. Its appeal is also rooted in the diversity of lifestyle found in its string of communities. “Those seeking more privacy and large estates may look towards East Hampton and Montauk, while those looking to be at its heart may favour the glamorous lifestyle of Southampton,” Mansfield explains.

Los Angeles: global scale and evolving opportunity

On the West Coast, Los Angeles combines global cultural influence with economic strength. As one of the world’s largest metropolitan economies, it is a key centre for media, entertainment and international business.

Its prime residential market reflects this status. In 2025, Los Angeles ranked third globally for $10 million+ property sales. At the same time, a 28% reduction in the spending power of $1 million between 2020 and 2025 reflects intense prime market appreciation.

As with many global cities, a shortage of prime, move-in-ready homes means well-priced, best-in-class properties remain sought after. Knight Frank’s alliance with Carolwood Estates, a boutique brokerage based in Beverly Hills, provides access to some of the region’s most exceptional homes.

The market is also undergoing a period of evolution. Pacific Palisades is experiencing large-scale reconstruction following the devastating wildfires of 2025, while the introduction of the Measure ULA — an tax of up to 5.5% on high-value sales — is reshaping transaction dynamics, with exempt areas such as Beverly Hills performing particularly well.

“The market continues to face headwinds,” explains Mansfield. “Yet the fundamental appeal of Los Angeles, both as a lifestyle destination and as an economic hub, remains strong.”