Data shows over 7,000 NYC homes valued at more than $5 million

An analysis of New York City's most expensive homes shows that over 7,000 are valued at more than $5 million.

The Wall Street Journal ( ) says that includes 128 properties valued at more than $25 million each, based on last year's sales prices.

They include co-ops, condos and houses.

The paper obtained the data from the city's Independent Budget Office. It requested the information to shed light on a debate over proposals to impose higher property taxes on pied-a-terre (pee-AY'-duh-tehr) buyers.

State legislators aren't expected to take up the measure this year.

The IBO says there's no way to tell how many of the 7,279 houses valued at over $5 million are pied-a-terres.

The total doesn't include high-priced apartments currently under construction or on the drawing board.


Information from: The Wall Street Journal,