Real Estate
A Growing Share of New Yorkers Are Set to Receive — Not Buy — Their Homes
About a quarter of all Manhattan home sales in 2024 involved a trust, a preferred tool for passing on wealth.
A third of condos bought through trusts in 2024 were in hip parts of Manhattan including Soho, Tribeca and the West Village, Attom data showed.
Photographer: Alex Kent/BloombergThis article is for subscribers only.
In New York, real estate is increasingly something you inherit — not buy.
The share of Manhattan home sales involving a trust — a preferred tool for passing on wealth — surged to 28% last year in a sharp rise from 17% three years ago, data from real estate analytics firm Attom show.