Summer 2020

Prosperity Market
In 2021, luxury real estate soared, making it one of the most successful years in history.

6 Bay View Court, North Haven, NY.

Waterfront Compound on Noyack Bay

12,000 SF+/- | 6 Beds | 6F/2H Baths

Bespoke Exclusive. $49M


United States Ultra-Luxury Real Estate


Across the entire country over the last two years, we have seen fundamental demographic shifts that have changed the state of the nation, no less the globe. Despite provocative headlines that leave some skeptical, the actual data reveals an optimistic outtake of growing markets, high employment rates and booming housing purchases over the last two years. The $10 million+ real estate market is no exception.

Mylestone at Meadow Lane, Southampton, NY.

Unrivaled Historic, Double Waterfront Estate

15,521 SF+/- | 11 Beds | 12F/4H Baths

Bespoke Exclusive. $175M


In 2021, the United States sold 2,023 homes over $10 million+ across all 50 states for a total of $34 billion, over double the 902 that transacted in 2020. As we reported in our last issue, East Coast markets of the Hamptons, Florida and New York City have each transacted record-breaking volumes, at $2.6 billion, $7.9 billion and $4.8 billion, respectively. California and Colorado led the market out west, with California having transacted nearly $12.7 billion in $10 million+ trades primarily across Los Angeles, San Mateo and Orange counties, while Colorado, a much smaller state, did $2.3 billion.

165 Surfside Drive, Bridgehampton, NY.

Contemporary Oceanfront Living

4,000 SF+/- | 5 Beds | 5 Baths

Bespoke Exclusive. $26.995M


Consider that the Hamptons’ $2.6 billion in transactions was about a fifth of the total sales volume of the entire state of California in 2021, $12.7 billion, despite having less than one percent of the population. Our real estate company, Bespoke Real Estate, made up a third of that market, including breaking a Hamptons’ history record with the sale of Jule Pond, which closed for over $100 million.

That sale is in many ways a reflection of a trend that dominated 2021 and continues to dominate 2022: one for water. The demand for water is seen at larger scales in South Florida and in Los Angeles, with residents who have slowly made their way to better weather from colder or inland parts of the country over the last two years, like New York or Colorado. Still, markets like Colorado continued to boom for its natural serenity, as did New York City, mostly as an ongoing bounce back from a difficult 2020.

263 Olivers Cove Lane, Water Mill, NY.

Waterfront Estate Overlooking Mecox Bay

7,957 SF+/- | 7 Beds | 9F/1H Baths

Bespoke Exclusive. $35M


This time last year, as we enjoyed a market recuperating from the turbulence of 2020, we were unsure if the market would continue to grow, or if, with a return to regular economic and social life, the market would return to pre-pandemic levels, too. It has not, for the better. Join us as we cover the nation’s $10 million+ market, the only publication that focuses on this segment exclusively.

For more detail, be sure to request Bespoke’s Annual and Quarterly Alpha Market Reports.


Despite limited inventory at the onset of 2021, ultra-luxury Hamptons real estate transactions reached new peaks within peripheral, waterfront locations—further east in Montauk and Amagansett as well as west of the Canal—while remaining solid in central towns like Southampton and East Hampton. Montauk’s growth was most noteworthy regarding both sales volume and quantity of transactions. The town sold four times as many properties in 2021 than the previous year, totaling an additional $67.9 million in sales volume.

There was a total of 231 $10M+ sales between 2020 and 2021.

271 & 266 Marine Blvd, Amagansett, NY.

Oceanfront Compound

8,756 SF+/- | 11 Beds | 10F/2H Baths

Bespoke Co-Exclusive. $34.995M


Water Mill’s sales volume increased by 326 percent, an additional $206 million sold across seven additional properties in 2021 compared to 2020, totaling 13 properties sold in 2021. Wainscott saw a 179 percent increase in sales volume with a $167 million increase, and Amagansett saw a 130 percent jump, an additional $59 million.

The Hamptons sold $2.6 billion worth of $10 million+ trades in 2021.

31 The Bridge, Bridgehampton, NY.

Customizable Turn-Key Estate

5,204 SF+/- | 5 Beds | 6F/1H Baths

Bespoke Exclusive. $25M


“The improved popularity of eastern towns on the outskirts of Southampton and East Hampton proper continues to be a central theme in the evolution of Hamptons real estate beyond the rush of 2020,” says Sam Kelly, Senior Portfolio Manager at Bespoke. “As far as ultra-luxury $10 million+ homes are concerned, these semi-remote estates belong to owners who prioritize an oceanfront view, suggesting an increased preference for proximity to the water over the desire to be close to downtown.”

Water Mill’s sales volume increased by 326%.

31 The Bridge, Bridgehampton, NY.

Customizable Turn-Key Estate

5,204 SF+/- | 5 Beds | 6F/1H Baths

Bespoke Exclusive. $25M


Notable transactions include the sale of 90 Jule Pond, the most expensive transaction ever made in Hamptons’ history, with a last asking price of $145 million this past year.

“After a successful 2021, particularly in the waterfront sector, we look forward to seeing more sales like the stellar performance of 232 Dune Road in Quogue” says Joseph De Sane, Managing Director at Bespoke.

289 Parsonage Lane & Reserve, Sagaponack, NY.

Turn-Key Estate | 12,795 SF+/- | 6 Beds | 6F/3H Baths

Bespoke Exclusive. $33M



As predicted since New York City’s comeback at the end of 2020 and beginning of 2021, the ultra-affluent community has continued to purchase the island’s most coveted real estate. Overall, there was a 65 percent increase in the total number of $10 million+ transactions and a 64 percent increase in sales volume between 2020 and 2021.

There was a total of 445 $10M+ sales between 2020 and 2021.

100 Barclay Street, PHB, Tribeca, NY.

Modern Tribeca Penthouse

5,023 SF+/- | 5 Beds | 5F/1H Baths

Bespoke Exclusive. $13.495M


The number of buyers purchasing within the $30 to $40 million range grew most significantly, increasing by nearly 88 percent in 2021, for a total of 15 trades worth $508 million.

Meanwhile, there was a 74 percent increase within the $10 to $20 million sector, and more so in the later half of the year. This likely speaks to the fact that the average price was still lower than normal, albeit temporarily, leading to a higher velocity of lower-priced deals. Nevertheless, sales volume amplified during each progressive quarter of 2021, strongest in Q4 with $1.3 billion worth of Manhattan properties traded.

Manhattan sold $4.8 billion worth of $10 million+ trades in 2021.

137 Duane Street, 3A, Tribeca, NY.

Turn-Key Loft | 5,498 SF+/- 3 Beds | 4F/1H Baths

Bespoke Exclusive. $13.118M


“By neighborhood, we saw incredible activity on the Upper West Side, typically one of the sleepier neighborhoods by growth, where sales quantity increased by 200 percent in 2021,” says Cody Vichinsky, Founding Partner and President of Bespoke Real Estate. While growth on the Upper West outperformed the historically strong Upper East, the latter still saw a 112 percent increase in sales volume this past year.

“Consistent with our last issue’s $10 million+ real estate spotlight, the revitalization of buyer interest in the New York City real estate market has continued to surge—and sellers who have previously been on the fence about listing their home are now taking the opportunity to trade,” says Michael Cantwell, Co-Founder and CCO at Bespoke.

Sales quantity on the Upper West Side grew by 200% between 2020 and 2021.


In 2021, the $10 million+ real estate market in California emulated that of South Florida’s boom, a year characterized by rapid growth and immense ultra-luxury transactions. The state had a 178 percent increase in sales volume, and average sales price of $17.7 million.

In February of 2021, an estate in Malibu sold for 177 million, breaking Los Angeles County’s record for highest closing price. Still, Los Angeles County’s sales remained steady, with only a six percent deviation in sales volume per quarter.

There was a total of 1,048 $10M+ sales between 2020 and 2021.

Malibu Residence.

Sold: $177M Setting a New California Record

Courtesy Scott Frances/OTTO (Designed by Scott Mitchell)

Napa was the only county to experience two quarters without any $10 million+ sales (Q1 and Q2), but it still ended the year with $200 million in sales volume.

Remarkably, San Mateo County saw a huge drop in trade growth: between 2019 and 2020, the county had a 1400 percent increase in sales quantity, from three $10 million+ sales in 2019 to 45 in 2020. By 2021, San Mateo had a 77 percent increase in quantity, from 45 to 86 homes sold in 2021. The better part of San Mateo County is home to Silicon Valley, and it is plausible that the drop in rapid growth could reflect a trend of tech moving out of Silicon Valley, or at least diversifying to locations in the country, like New York and South Florida.

California sold $12.7 billion worth of $10 million+ trades in 2021.

Malibu Residence.

Sold: $177M Setting a New California Record

Courtesy Scott Frances/OTTO (Designed by Scott Mitchell)

Los Angeles, Orange County and San Mateo each reached over $1 billion transacted (though, Los Angeles’ sales volume reached double that), averaging a sales volume of $1.8 billion; this was 82 percent greater than the average $10 million+ sales volume of other California counties. “As long as there is a supply of land, there will be a demand for custom estates in California because of the indoor-outdoor lifestyle that the climate affords, says Richard Landry, Architect, President and Founder of Landry Design Group. “Properties of this nature will only grow in value as they become available.”

California $10 million+ sales volume grew by 178% in 2021 compared to 2020.


Coming out of the pandemic, Florida had an incredibly strong market in the beginning of 2021. But rather than returning to “pre-pandemic trading levels of about 30 per quarter,” says Zachary Vichinsky, Founding Partner and CEO at Bespoke, “we believe that 80 or so transactions per quarter will be the new normal for the region for the foreseeable future.

There was a total of 625 $10M+ sales between 2020 and 2021.

Waldorf Astoria Miami, Miami, FL.

Bespoke Exclusive Collection

Price Upon Request


A return to pre-pandemic trade levels would have happened already if it were going to, yet the demand continues to be very strong.” There has been new interest particularly from industries that historically had no presence in the region, but are relocating.

“More financial services firms and startups are calling South Florida home and bringing their employees with them,” explains Nick Pérez, Senior Vice President at Related Group. The Palm Beach market reveals this ongoing demand as well. Notorious listings of $50 million and above—many of which were in Palm Beach—had a 645 percent increase in sales between 2020 and 2021. Many of the properties had been on the market for some time, and 2021’s demand allowed them to finally transact.

Florida sold $7.9 billion worth of $10 million+ trades in 2021.

121 Nurmi Drive, Fort Lauderdale, FL.

Modern New Construction

6,447 SF+/- | 3 Beds | 4F/2H Baths

Bespoke Exclusive. $9.775M


“The region’s increased sales volume and sales quantity, while spurred by a sudden interest in warm climates after lockdown, has proven sustainable,” says Harlan Goldberg, President of Bespoke South Florida. “We’re confident it will continue throughout this year, as the state already had more transactions in Q1 2022 than any other.” Bespoke’s $43 million transaction at Waldorf Astoria Miami is one example. “As the first super-tall tower in Florida and the tallest residential building south of New York City,” says Daiana Quiceno, PMG Residential’s Vice President of Sales, who worked with Bespoke on the trade, “we’re excited to usher in a new era for downtown Miami.”

Palm Beach had a 645% increase in sales quantity between 2020 and 2021.


Following a strong 2020, where Colorado properties stood tall with access to outdoor recreation, demand continued into 2021. Overall, 135 properties were sold, at an average price of $17.1 million. The town of Aspen comprised about 39 percent of the Colorado real estate market’s annual $10 million+ sales volume, upholding the town’s reputation as the state’s most coveted enclave with a beloved downtown. The “heart” of Pitkin County, Aspen had nine times more $10 million+ transactions than the average Colorado town.

There was a total of 191 $10M+ sales between 2020 and 2021.

Gammel Damm Home Designed by CCY Architects.

Courtesy Draper White

Of course, the front-running upscale trade was located in Aspen: a single property, sold in December 2021 for $44.5 million, breaking records as the highest closing price of a home in Pitkin County.

Aspen residents want to “live and recreate in communities like Aspen more full time, as opposed to only having a secondary vacation home,” says Alex Klumb, Principal at CCY Architects.

Colorado sold $2.3 billion worth of $10 million+ trades in 2021.

The scarcity of inventory on the Aspen market is “resulting in clients’ desires to invest into the real estate market with legacy projects,” securing their own long-term intent to stay and the long-term viability of the market.

Vail accrued the second greatest number of trades and sales volume, albeit separated from Aspen by 15 transactions worth $388 million total. Colorado’s most sought-after counties performed differently from one another during each quarter of 2021: Pitkin did well in Q1, selling 35 percent of its total sales transacted, then dialed down until Q4, while San Miguel County and Eagle County appreciated in Q2, earning 26 and 47 percent of their respective sales volumes, but each of their peak quarters to varying degrees.

Aspen made up about 39% of Coloradoʼs $10 million+ sales volume.


What do we look for in a home? The answer is inextricably linked with who we are. Roger Ferris, Founding Principal of Roger Ferris + Partners, says, “I just think that people are searching for a place to be, looking for themselves, and single family homes have always served as a benchmark for people’s identity.” He points out that our country’s urban exodus is indicative of a collective search for a deeper notion of dwelling, and has fueled a number of new design requirements. “The overarching theme is a flexible floor plan with multi-purpose spaces,” he explains. The Residences at The Bridge, a Ferris + Partners residential project connected to one of the country’s best golf courses, is a full expression of innovative master planning, closely tied to Bridgehampton’s community, history, culture and natural beauty.

2 West Water Street, Residence B, Sag Harbor, NY.

Waterfront Residence

11,723 SF+/- | 7 Beds | 8 Baths

Bespoke Exclusive. ≈ $24.95M


In California’s natural surroundings and warm weather, Landry Design Group’s projects highlight outdoor entertaining: protected courtyards, rooftop terraces, pool, spa and generous lawn areas. Architect Brian Pinkett, Partner of Landry Design Group, tells us, “Since last year, clients have been especially interested in entertaining spaces, such as bar rooms with pub seating and game tables, offices that are more like parlors, with comfortable seating groups for Zoom calls and casual meetings, and additional security features.” Meanwhile, in the Hamptons, iconic waterfront living has been reinterpreted at 2 West Water Street in Sag Harbor. Jay Bialsky, Founder of JBialsky Premiere Design and Development, says, “In addition to the indoor/outdoor lifestyle which emphasizes sweeping views from nearly every room, terrace and rooftop deck, 2WW’s feature of having two private deep-water slips provides true waterfront living. Residents can sail in and out, without having to drive. The passion for yachting becomes a part of everyday life.”

2 West Water Street, Residence B, Sag Harbor, NY.

Waterfront Residence

11,723 SF+/- | 7 Beds | 8 Baths

Bespoke Exclusive. ≈ $24.95M


In New York City, Robert A.M. Stern Architects transforms urban living with pools, athletic courts, screening rooms, motor courts, wine cellars, libraries and more. “Understanding how to create a livable floor plan that has an appropriate human scale forms the foundation for everything we design,” says Robert A. M. Stern, architect, educator, author and the founding partner of his architecture firm.

Historically, strong markets lend themselves well to architectural innovation, as more new homes create opportunities to explore new designs. With a promising year ahead for the market, we’re looking forward to the work from each of these storied architects and designers.




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