In New York, the real estate market reflects the state’s high demand and diverse offerings, making $5 million stretch less than expected in many areas. From the luxury-driven prices of Manhattan to the competitive suburban markets, a $5 million budget may not secure the space or amenities typically associated with a million-dollar home elsewhere. Buyers often face trade-offs between location, size, and features, particularly in sought-after neighborhoods. Understanding regional market trends is essential to navigating these challenges and finding the best value for this investment level.
10. Brooklyn, NY – $5,100,000
Here’s an example of a $5,100,000 in Brooklyn. This seven-bedroom, 5.5-bathroom estate, originally built in 1965 and rebuilt in 2006, spans 9,447 sq. ft. on a 14,000+ sq. ft. waterfront lot. The home features a custom wrought iron staircase, marble floors, a gourmet kitchen, a formal dining room, and radiant floor heating with seven-zone heating and cooling.
The master suite includes a private balcony with panoramic bay views, and the property provides direct water access via a private dock. Outdoor amenities include a mosaic-tiled saltwater pool, a cabana with an outdoor kitchen, a wood-burning pizza oven, and spacious entertainment areas. Additional features include a custom wine cellar, vaulted ceilings, and multiple great and family rooms with fireplaces.
9. Manhattan Beach, NY – $4,999,000
This property in Manhattan Beach is priced at $4,999,000. This four-bedroom, 5-bathroom single-family home, built in 1920, offers approximately 6,500 sq. ft. of living space across four levels in the Manhattan Beach community. The first floor features a sitting room, formal living and dining rooms, a custom marble fireplace, a half bath, and a large eat-in kitchen with granite countertops and high-end stainless steel appliances.
The second floor includes two bedrooms with full bathrooms, walk-in closets, and a home office, along with a balcony overlooking the backyard and in-ground pool. The top floor offers a skylight-lit space suitable for hosting or relaxing, along with an additional balcony. The fully finished basement includes a family room, laundry, utility space, and ample storage, with the home featuring central air conditioning and a water filtration system.
8. Jamaica Estates, NY – $4,999,000
All this in Jamaica Estates for $4,999,000. This three-bedroom, five-bathroom single-family home, built in 2011, spans 4,489 sq. ft. on an 8,050 sq. ft. lot. The home features steel beam construction, radiant heated floors on all three levels, and a main floor with a spacious living room, formal dining room, and a high-end eat-in kitchen with Subzero appliances and three sinks.
The upper level includes three en-suite bedrooms, with two offering walk-in closets and a master suite with premium finishes. The basement features high ceilings, a family room, a wet bar, a full bathroom, sauna and steam rooms, a laundry area, and a separate entrance. Additional amenities include a central vacuum system, a smart home security system, and a backyard with an outdoor kitchen for entertaining.
7. Staten Island, NY – $4,895,000
In Staten Island, this is an example of what you can buy for $4,895,000. This four-bedroom, six-bathroom estate, built in 2017, spans 7,400 sq. ft. on nearly 3/4 acre across two tax lots. The home features a formal living room, dining room, great room, and a custom kitchen with Wolf and Sub-Zero appliances, Taj Mahal quartzite countertops, and custom cabinetry.
The primary suite includes a sitting area with a fireplace, a mini bar, a marble spa bath with a steam shower, two walk-in California Closets, and a private terrace. The lower level offers a full bar, 400-bottle wine room, billiard area, family room with a fireplace, an additional guest suite, and walkout access to the backyard. Outdoor amenities include a gunite spa, fire pit, outdoor kitchen with Lynx appliances, an Italian pizza oven, and multiple entertaining patios, with additional features such as a heated two-car garage, central vacuum, and surveillance system.
6. Bronx, NY – $4,800,000
For $4,800,000, here’s what you get in Bronx. This six-bedroom, six-bathroom single-family home, built in 2019, spans 6,271 sq. ft. The main floor features a two-story entry, formal living and dining rooms, a custom chef’s kitchen, an expansive family room with deck access, a first-floor ensuite bedroom, an office, and a powder room.
The second floor includes a primary suite with a sitting room, two walk-in closets, and a luxurious bath, as well as four additional bedrooms, one with an ensuite bath, and a hall bath. The finished attic and lower level provide recreational space and storage. The property is located near schools, shopping, and transportation.
5. Holliswood, NY – $4,698,000
In Holliswood, $4,750,000 will get you this property. This six-bedroom, 6.5-bathroom estate, built in 2017, is located in the Holliswood neighborhood on a 75×131 lot. The home features a grand facade with wrought-iron balconies, stately columns, and an arched entrance, complemented by a foyer with soaring ceilings and a sweeping staircase.
The interior includes hardwood floors, intricate moldings, and a custom-designed kitchen with top-of-the-line appliances and a large island, along with a formal dining room, family room with a fireplace, and a formal living room. Each bedroom has an en-suite bathroom with marble finishes, and the fully finished basement includes an entertainment room, private theater, and guest room. The backyard features a pool, hot tub, and ample parking in the expansive driveway.
4. Malba, NY – $4,695,000
All this in Malba for $4,695,000. This four-bedroom, six-bathroom custom contemporary home, originally built in 1925 and redesigned in 2013, offers 4,622 sq. ft. of main living space plus 2,505 sq. ft. in the lower level. The home features a grand entry with cathedral ceilings, a gourmet kitchen with high-end appliances and a center island, and formal dining and living rooms with coffered ceilings and fireplaces.
Each bedroom is a suite with walk-in closets, full bathrooms, and balconies, with master suites on both the first and second floors. The lower level includes a family room, a solar health sauna, a home gym, and ample storage. Outdoor features include a Japanese Zen garden, two patios, a COVANA spa with an automatic gazebo, manicured landscaping, and a two-car garage with a custom automatic rear gate.
3. Canandaigua, NY – $5,350,000
In Canandaigua, this is an example of what you can buy for $5,350,000. This five-bedroom, five-bathroom lakefront estate, built in 2001, spans 6,500 sq. ft. on a property with 250 feet of level lakefront, a sandy beach, and a permanent dock with boat hoists. The home features a chef’s kitchen, a large family room with a wood-burning fireplace, and a dining and living room with a shared see-through fireplace and lake views, all opening to a lakeside stone patio.
The primary suite includes a sitting room with a fireplace, a jacuzzi with a steam shower, and a hidden garden shower with a waterfall wall. The second level has four guest bedrooms, two full bathrooms, and a studio loft with a walkway overlooking the courtyard. Additional amenities include a garden courtyard with a waterfall, stream, hot tub, custom woodwork, radiant floor heating, and separate air conditioning.
2. Scarsdale, NY – $5,200,000
For $5,200,000, here’s what you get in Scarsdale. This six-bedroom, 5.5-bathroom colonial home, built in 1907 and remodeled in 2001, spans 7,204 sq. ft. and includes a two-bedroom, one-bathroom garage apartment. The main house features architectural details such as bay windows, hardwood floors, millwork, and five fireplaces, with a layout that includes a formal living room, dining room, family room, and a gourmet kitchen.
The owner’s suite includes a sitting room, a large closet, a spa bath, and a balcony, with two secondary suites and three additional bedrooms completing the upper levels. The property includes a finished lower level, an oversized garage, a cabana, and an in-ground pool. Located near Scarsdale village shops, the train station, and parkways, the home also offers guest quarters and additional parking.
1. Great Neck, NY – $5,350,000
I’d say you get the most modest home for $5,350,000 in Great Neck. This seven-bedroom, ten-bathroom Tudor estate, built in 1930 and updated, spans 1.0285 landscaped acres in the University Gardens neighborhood of Great Neck, NY. The home features a grand foyer with a bifurcated staircase and coffered ceiling, formal living and dining rooms, a library/office, and a kitchen with custom wood cabinetry.
Two primary suites and five additional bedrooms include spa-like baths with radiant heat and custom closets. The lower level includes a recreation room, a theater room, a gym, a sauna, baths, a laundry room, and access to three attached garage bays. Additional features include a Smart Savant AV system, central vacuum, irrigation, landscape lighting, and a bluestone patio with a built-in summer kitchen.
