You’ve heard of thousands of people moving to Philly from New York City as part of post-COVID market trends. Where are the uber-wealthy moving to? A lesser known migration is from Manhattan’s Billionaires’ Row to Gladwyne’s Billionaires’ Village on the Main Line.
What is Billionaires’ Row?
While many cities worldwide claim the address of Billionaires’ Row for their uber-wealthy, none are more iconic than Billionaires’ Row in Manhattan. Local New York luxury real estate expert, Alexander Glibbery described it as:
I like to define Billionaires’ Row as New York City’s Monopoly board for uber-wealthy international and domestic titans of industry who come together here to work, play, and do lots and lots of shopping
Billionaires’ Row luxury auction
A rarely offered 3-story Penthouse opportunity at 150 Central Park South is currently available through the luxury auction service, Concierge Auctions. Bidding starts today. Offered for $40M with no reserve.
With pre-approved, construction “shovel”-ready design, plans, and permits held by New York City’s most luxurious, professional, and high-end general contractor SilverLining and lauded SPAN Architecture, the design won the Interior Design Magazine award for the Best of Year residential project in the world for 2018 (on the board).
Gladwyne; “Billionaire’s Village”
At the opposite end of the spectrum, with large discrete estate homes in remote settings, the village of Gladwyne is home for many billionaires on the Main Line in the greater Philadelphia area.
While all communities on the Main Line have seen increasing values due to strong demand for luxury suburban living, Gladwyne has seen the most dramatic shift driven by post-COVID buyer demands.
Median sales prices for Gladwyne luxury homes are up 98.47% over the past 12 months, and up 31.36% over the past 24 months.
Unique Gladwyne Luxury Estate
An example of Gladwyne’s large luxury estates is Linden Hill, designed between 1928 and 1931 by Edmund B. Gilchrist for stockbroker Rodman Ellison Griscom. The property was owned for more than 50 years by the Dorrance family of Campbell’s Soup Company.
Linden Hill’s very secluded grounds include fenced pastures and stone outbuildings, reminiscent of the quaintest of French villages. The magnificent manor house and cour d’honneur, are a majestic example of French Normandy-inspired design of breathtaking scale and symmetry.
Modern homes in Gladwyne
The flexibility to work remotely is accelerating this trend. When the commute’s not a daily thing, it’s easier to justify living farther away from work—especially when you get more for your housing dollar farther away.Danielle Hale, Chief Economist