Where Do Millionaires Go in NYC?
As a luxury lifestyle writer in New York City, I‘m often asked – where do all the millionaires and billionaires go in this town? Where do they live, shop, dine, drink, and hang out away from the crowds?
From obscure private social clubs to the most expensive penthouses, I‘ll give you an in-depth insider‘s guide to the haute haunts of the elite in NYC.
Upscale Neighborhoods Rule
Several posh residential neighborhoods across Manhattan have some of the highest concentrations of wealth on earth. Real estate doesn‘t come cheap here.
Tribeca
With its converted warehouses, trendy restaurants run by celebrity chefs, and proximity to Wall Street finance, Tribeca has become one of the most expensive and exclusive areas in New York. According to property listings, the median sales price for a home in Tribeca is $3.8 million. No wonder it has one of the highest concentrations of billionaires in the city.
Central Park South
The string of ultra-luxury skyscrapers built along Central Park South in the past decade, like 15 Central Park West and One57, have attracted wealthy buyers willing to pay record sums for penthouses with park views. In 2019, a penthouse at 220 Central Park South sold for $238 million to billionaire Ken Griffin, the highest price ever paid for a home in the U.S.
Greenwich Village
Charming, tree-lined streets with historic townhouses attract celebrities and wealthy families looking for privacy downtown. In 2021, a West Village townhouse sold for $35.1 million to an unnamed celebrity buyer.
Upper East Side
Fifth and Park Avenues on the Upper East Side have been home to New York‘s old money families for over a century. Exclusive co-ops in prewar buildings here have notoriously tough co-op board approvals, keeping the neighborhood elite. A 14-room duplex at 998 Fifth Avenue sold for $70 million in 2020.
| Neighborhood | Median Sale Price |
|---|---|
| Tribeca | $3.8 million |
| Central Park South | $5.5 million |
| Greenwich Village | $3.4 million |
| Upper East Side | $1.7 million |
"The Upper East Side is the quintessential wealthy NYC neighborhood," says luxury real estate broker Carrington Stern. "Several generations of the city‘s rich and powerful families have resided in stately co-ops here since the Gilded Age."
Where Millionaires Stay in NYC
For wealthy visitors to the Big Apple, New York offers plenty of five-star hotels to choose from. Here are some of the top luxury spots:
The Plaza
Its exclusive Central Park South location, lavish rooms decorated with chandeliers and silk wallpaper, and the iconic Eloise Suite for families make The Plaza a forever favorite of the New York elite. While rooms typically start around $895/night, the Royal Plaza Suite goes for $30,000 per night.
Mandarin Oriental New York
Perched 35 floors up inside the Time Warner Center at Columbus Circle, the Mandarin Oriental offers stunning park and Hudson River views. Guests rave about the five-star spa and attentive service. Suites start at $995/night.
The Mark
The Mark, across from Central Park on 77th Street, oozes old world elegance. Suites at this celeb darling begin around $4,500/night, earning it the title of most expensive hotel room in America in 2022. The 12,000 square foot penthouse suite goes for $75,000/night.
The Carlyle
A Rosewood Hotel, The Carlyle caters to VIPs with discretion on the Upper East Side. Mick Jagger and Princess Diana were regular guests. Rooms start at $995/night, while the 4,400 square foot duplex in the tower will cost you $15,000/night.
| Hotel | Starting Room Rate |
|---|---|
| The Plaza | $895/night |
| Mandarin Oriental New York | $995/night |
| The Mark | $4,500/night |
| The Carlyle | $995/night |
"For high profile celebrities and executives, only five-star luxury hotels provide the privacy and amenities they demand," explains travel advisor Susan James. "These New York institutions have mastered the art of catering to their wealthy clientele."
Power Dining Spots
Millionaire New Yorkers have their pick of exclusive, outrageously expensive restaurants run by celebrity chefs. Here are a few hotspots:
Per Se
Chef Thomas Keller‘s Per Se, perched on the 4th floor of Columbus Circle‘s Time Warner Center, received an elite three Michelin stars. The $355 tasting menu features delicacies like oysters and pearls. Score a reservation if you can.
Daniel
Daniel Boulud‘s elegant French restaurant on 65th Street remains a beloved special occasions spot for the elite, where jackets are required. Sit at the Swan Bar for caviar service. Prix-fixe dinners cost $185 and up. The 1959 ‘La Tâche‘ vintage goes for $18,000 a bottle.
The Grill
Tucked inside Midtown‘s Seagram Building, The Grill attracts the richest of New York‘s power lunchers and old money crowd with clubby leather booths and wood paneled walls. Entrees like the $58 dover sole meunière flawlessly execute this restaurant‘s signature understated luxury.
The Back Room
Hidden behind a wall of millwork at the elegant Russian Samovar lounge on 52nd Street, Back Room only admits those "in the know." Cocktails like the $25 Old Cuban and caviar service provide a true VIP prohibition-era speakeasy vibe.
| Restaurant | Sample Entree Price |
|---|---|
| Per Se | $355 tasting menu |
| Daniel | $185+ prix-fixe |
| The Grill | $58 dover sole |
| The Back Room | $25 cocktails |
"At Michelin rated restaurants like Per Se, the wealthy find haute cuisine in refined, exclusive environments befitting their stature," says restaurant critic David Simons.
Members Only
Private member clubs offer exclusive spaces where the elite can work, socialize, and network out of the public eye. Gaining access comes at a steep price.
Core Club
With membership limited to just 200 worldwide, the Core Club across from Rockefeller Center isn‘t for just anyone. The $100,000 initiation and $17,000 annual dues keep out the masses. Perks like private stock trading facilities cater to "those singular individuals at the pinnacle of their profession."
The Wing
This all-women‘s social club and co-working space boasts 11,000 members across various US cities, including lots of celebrity fans. The Wing carefully curates its membership, providing millennial socialites and professionals luxe spaces for working and networking with like-minded powerful women. Membership is $250/month in New York.
Norwood Club
Named for its private Upper East Side location, Norwood is an exclusive nightly social club for "established Creators, Performers, and Entrepreneurs" – aka celebrities and influencers. Membership costs $1,000/annually after being vetted and approved. Parties often have A-list entertainment.
The Metropolitan Club
Founded in 1891 for New York‘s social elite, the invite-only Metropolitan Cluballowsfacilitiesrental only to members these days. But mingling with Manhattan‘s power players here requires old money pedigree. Many current members are descendants of the Astors and Vanderbilts.
| Club | Membership Cost |
|---|---|
| Core Club | $100,000 initiation fee |
| The Wing | $250 monthly dues |
| Norwood Club | $1,000 annually |
| Metropolitan Club | Invite only |
"Millionaires flock to exclusive member clubs for networking opportunities and luxuries like cigar lounges, fine dining, and resort-style spas at their disposal," explains nightlife reporter Olivia Kepler.
NYC Luxury Shopping
World-class shopping draws millionaires from all over the globe. New York‘s most expensive boutiques cluster in iconic luxury districts.
Madison Avenue – Any couture fashion lover is familiar with Madison Avenue‘s parade of high-end designers like Chanel, Gucci, and Dior in the 60s and 70s. Nearby Madison Avenue galleries house rare luxury goods, like 20th century jewelry at Siegelson ($1.4 million+).
Fifth Avenue – The stretch of Fifth Avenue from 49th to 60th Streets packs enormous flagships for Saks, Versace, Cartier, Harry Winston and other elite brands into a tiny, walkable area. Nearby, Tiffany‘s iconic 1940s flagship store sparkles after a recent facelift.
Greene Street – Downtown near Soho, Greene Street‘s stark modern boutiques in former industrial lofts house the likes of Prada, Cartier, Dolce & Gabbana, and more high fashion brands. Prices are sky high.
Auction Houses – Christie‘s and Sotheby‘s venerable NYC auction houses on the Upper East Side anchor elite galleries selling multi-million dollar contemporary and modern art.
"While shopping in New York offers something for everyone, the discerning millionaire shopper finds true luxury along Madison, Fifth, and Greene," notes retail analyst Daria Klein.
So whether they call New York home or are just visiting, millionaires and billionaires have an abundance of elite haunts to choose from across Manhattan. These are just a taste of the upscale residential enclaves, five-star hotels, Michelin-rated restaurants, private clubs, and luxury shopping meccas that cater to the pleasures of the super rich in NYC.
While hanging with the wealthy in their natural habitat may seem intimidating, the elite spots mentioned here gladly accept anyone who can afford the price of entry. Black card in hand? You too can at least glimpse how the other half live in New York City.