A Rising Number of Manhattan Home Purchases are Made Through a Trust

According to reported data compiled by real estate analytics firm Attom, 28% of all Manhattan homes were purchased through a trust in 2024, representing a nearly 65% increase from three years ago. Earlier transparency efforts of Limited Liability Corporations (LLCs) at the state and federal level may be contributing to the rising numbers, as well as the unaffordable, exorbitant costs of homes in Manhattan for a first-time buyer that frequently requires financial help from parents – particularly within trendy neighborhoods such as SoHo, the West Village, and Tribeca, which according to Attom’s data, accounted for about one third of the trust-bought condos last year. The shift is also reshaping these neighborhoods that were once the domain of “seasoned tycoons,” and now “buzz with younger faces.” Further driving the trend is a “notable resurgence of foreign buyers re-entering the New York market, coupled with high net-worth individuals seeking more stable investment opportunities.” Analysts see no signs of a slowdown ahead, with the passing down of vast fortunes by baby boomers bringing the arrival of the “dawn of a $100 trillion generational wealth transfer,” trusts are increasingly become “the go-to-tool for savvy buyers, offering tax breaks and a veil of privacy.”

Source:    https://nypost.com/2025/04/15/real-estate/more-new-yorkers-are-inheriting-homes-not-buying-them/