Jeff Bezos, Jeffrey Katzenberg and David Geffen led 2020's Biggest Real-Estate Deals
12/28/2020 | 03:21pm EDT
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By Katherine Clarke
Many U.S. billionaires got richer during the pandemic, thanks in part to the recovery of global stock markets. It's perhaps unsurprising then that, while individual markets were impacted to dramatically different degrees, the ultra-high end of the real-estate market didn't crash in 2020 as a result of the Covid-19 crisis.
While the New York City market took a gut punch as wealthy Manhattanites fled the city, markets such as the Hamptons, Greenwich, Conn., Palm Beach and Los Angeles boomed. Local realtors attributed that uptick in part to the increasing fortunes of the wealthiest Americans, a desire by the rich to get out of densely populated environments and a rise in the number of people who wanted to upsize to larger homes with space for work-from-home friendly amenities like offices and gyms.