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Even with stock market swings and tariff worries, the broker for a newly listed $110 million penthouse in Manhattan says buyer interest has been strong.
The four-floor listing at 111 West 57th St. spans 11,480 square feet and is being pitched as a rare collector’s item for global elites.
Outside the ultra-high end, brokers say luxury homebuyers are more cautious, taking longer, negotiating harder and focusing on value.

Since launching the quadplex earlier this month, listing agent Nikki Field with Sotheby’s said interest has been encouraging: “Several highly qualified individuals have already inquired and toured the residence. There’s real momentum.”
Rendering provided by Sotheby’s International Realty

As the Dow Jones Industrial Average plunged and tariff headlines rippled through global markets, a different number was turning heads in Manhattan: A newly listed $110 million penthouse, now the most expensive home for sale in New York City.
The listing debuted April 3 during one of Wall Street’s most turbulent weeks on record. That day, the Dow fell 1,679 points, shedding 4%. The day after, it lost another a 2,231 points. Markets have been turbulent ever since as trade policy uncertainty leaves investors uneasy.

Sotheby’s International Realty broker Nikki Field, who represents the Manhattan listing, said the market swings haven’t rattled her target buyers.
“This buyer segment remains untouched by market volatility,” Field said. “They’re not reacting to headlines or fluctuations. They’re focused on curating world-class portfolios, and ultra-prime residential real estate continues to be a core asset class for them.”
The property in question is a rare bundled offering atop the landmark Steinway Tower at 111 West 57th St. Penthouse 80 and Penthouse 82 are being marketed together as a potential quadplex, spanning the tower’s top four levels, which feature private elevator access. Combined, they offer 11,480 square feet, five bedrooms, six bathrooms, multiple lounges, and a 618-square-foot terrace with sweeping views of Central Park and both rivers on either side of Manhattan.

Altogether, the combined square footage totals 11,480 square feet, with five bedrooms, six bathrooms, multiple lounges, and a 618-square-foot terrace offering panoramic views of Central Park and both rivers.
Rendering provided by Sotheby’s International Realty

“While the homes remain physically separate today, the opportunity lies in their architectural potential,” Field said.
According to Sotheby’s, neither unit has ever been publicly listed or marketed individually.

Though currently uncombined, the two mega-residences are being marketed as a potential quadplex spanning the tower’s top four levels.
Rendering provided by Sotheby’s International Realty

Since launching the quadplex listing earlier this month, Field says buyer interest has been strong.
“Several highly qualified individuals have already inquired and toured the residence. There’s real momentum,” she said.
According to reporting from The Real Deal, Field and her team took over sales at 111 West 57th St. in July, replacing Corcoran Group and becoming the third brokerage since the building launched in 2018.

Penthouse premium

The 220 Central Park South building, center, stands in New York, U.S., on Wednesday, Jan. 23, 2019.
Jeenah Moon | Bloomberg | Getty Images

For context, Griffin’s acquisition totaled approximately $10,420 per square foot. The $110 million listing at 111 West 57th St., at 11,480 square feet, comes in at roughly $9,578 per square foot.
Still, Miller cautioned against reading too much into these sky-high sales: “They should be viewed as one-off sales and not attached to local luxury housing markets.”

Shifts in the high-end market

While Field remains bullish on ultra-prime demand, some brokers in the broader luxury market are seeing more hesitation.
A recent Wall Street Journal report found that more luxury buyers are backing out of deals due to the instability.
“The lack of a clear strategy on tariffs has created economic uncertainty,” Miller said. “And that’s expected to slow housing activity.”
According to Realtor.com’s 2025 High-End Housing Market Trends and Outlook report, the wealthiest 10% of Americans hold most of their assets in the stock market, about 36.3% in corporate stocks and mutual funds. Real estate made up 18.7% of their total wealth.
“No one likes uncertainty … that’s the worst thing for real estate. And right now, no one really knows what’s next,” said Douglas Elliman New York City luxury broker Noble Black. “Some clients believe tariffs could lead to inflation and ultimately higher property values. Others are using this as a chance to move out of financial markets and into real estate.”
Still, there are signs of resilience at the high end.
According to the Olshan Luxury Market Report, which tracks Manhattan contracts for homes priced at $4 million and above, 33 contracts were signed between April 14 and April 20, that’s up from 29 such contracts the previous week.
“It was a surprisingly strong showing for the luxury market,” Donna Olshan noted in the report, especially given the holiday calendar and market volatility.

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In Los Angeles, luxury broker Aaron Kirman of Christie’s International Real Estate said buyers and sellers aren’t on the same page.
“The market’s split: Buyers are cautious, sellers are still hoping for 2020-2021 prices,” he said. “That gap is where deals either die or get done.”
Still, some sellers are starting to adjust, Kirman said.
“We’ve seen price cuts quietly offered to specific buyers or brokers, rather than advertised,” he added. “It’s about preserving perception while staying competitive.”
And buyers, he said, are getting more strategic.
“They’re active, but conservative,” said Kirman, favoring all-cash offers, clean terms and longer inspection windows. “They’re negotiating harder for price, furnishings and closing flexibility.”
Kirman noted that increased caution is also extending sale timelines.
“What used to take three to six months might now take nine to 12, unless it’s a turnkey estate that checks every box,” Kirman noted. “Patience is more necessary now.”
In South Florida, luxury broker Senada Adzem with Douglas Elliman emphasized the high-end luxury market isn’t declining, but shifting.
“It’s sellers adapting to today’s more discerning and anxious buyers,” she said.
According to Adzem, buyers in the $5 million to $10 million range are laser-focused on value, carefully evaluating comparisons and whether the home delivers on lifestyle needs. 
“There’s definitely more negotiation and selectivity in that space,” Adzem said.
But in the $20 million-plus tier, she said, priorities shift.
“Buyers at that level are pursuing rarity, trophy properties, irreplaceable waterfront. When the right opportunity surfaces, price is important but not paramount,” she said. “At the ultra-high end, it’s less about timing the market and more about securing a unique asset that fits into a long-term vision or legacy.” More

Aerospace giant RTX said it expects a $850 million impact from tariffs, while GE estimated about $500 million.
GE Aerospace’s CEO, Larry Culp, said he recently met with President Donald Trump.
The aerospace industry, including companies that produce engines, airplanes and other products in the United States, relies on a global supply chain.

Men work with a jet engine at General Electric (GE) Celma, GE’s aviation engine overhaul facility in Petropolis, Rio de Janeiro, Brazil.
YASUYOSHI CHIBA | AFP | Getty Images

RTX and GE Aerospace expect a more than $1 billion impact combined from President Donald Trump’s tariffs on imported goods and materials, the latest sign of higher prices for major U.S. manufacturers that rely on a global supply chain.
Neil Mitchill, chief financial officer of defense contractor and commercial aerospace supplier RTX, said on an earnings call Tuesday that the company will likely take a $850 million hit this year from tariffs, including the sweeping 10% levies that Trump imposed earlier this month alongside higher duties on countries like China and separate taxes on imported steel and aluminum.

That estimate doesn’t include RTX’s own tariff mitigation measures, Mitchill said.
GE Aerospace, which makes engines for popular Boeing and Airbus planes, kept its 2025 earnings outlook in place during its quarterly report Tuesday and said it would seek to save about $500 million by cutting costs and raising prices.
GE Aerospace CEO Larry Culp said on Tuesday’s analyst call that he recently met with Trump and discussed the U.S. aerospace sector’s trade surplus. GE has a joint venture with France’s Safran to make popular airplane engines.

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The new tariffs are a shift for a global industry that has enjoyed mostly duty-free trade for decades.
“All we have suggested is the administration works through a myriad of issues, is they can consider the position of strength that the country enjoys as a result of this tariff-free regime,” Culp said.

The White House didn’t immediately comment.
Boeing, a major customer of both companies and the top U.S. exporter, is scheduled to report quarterly results before the market opens on Wednesday.
Airlines have recently announced cuts to U.S. domestic capacity plans this year because of softer demand, but executives have emphasized it is hard to predict the direction of the economy or future trade policies. United last week provided two earnings outlooks for 2025, one in the event of a recession, one assuming status quo.
“There is uncertainty,” Culp said Tuesday. “None of us, I think, know for sure how this plays out.”

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Tennis legend Andre Agassi is joining Anna Leigh Waters for the U.S. Open Pickleball in Naples, Florida.
Agassi has become passionate about the sport since retiring from tennis.
The tournament kicks off on Saturday and will be broadcast on CBS Sports Network.

Andre Agassi will make his professional pickleball debut with 18-year-old world No. 1 player, Anna Leigh Waters.
Courtesy of Andre Agassi and Anna Leigh Waters.

Tennis legend Andre Agassi is joining the pro pickleball ranks.
The former No. 1 ranked tennis player told CNBC that he will play his first professional tournament at the U.S. Open Pickleball Championships with the top-ranked player in the world, Anna Leigh Waters.

The tournament kicks off on Saturday in Naples, Florida, and will be broadcast on CBS Sports Network. Agassi and Waters will play their debut match on April 30 at noon ET.
The idea to play together came from 18-year-old Waters, who was looking for a mixed partner for the biggest pickleball tournament of the year. The U.S. Open Pickleball Championships was founded in 2016 and draws crowds as large as 50,000 fans each year.
Waters, who earned more than $3 million playing pickleball in 2024, according to Forbes, has emerged as one of the sport’s biggest and most marketable stars.
“She’s probably sick of winning so much, and that’s why she called me and asked me to play,” Agassi joked.
Waters said she scouted Agassi ahead of time, watching videos of him playing pickleball on YouTube.

“We both tend to err on the aggressive side, and I think that works,” she said. “Andre’s goals are to grow the sport of pickleball, and that’s a huge goal of mine. I thought if we partnered together, this would be a really awesome way to grow the sport.”
Pickleball has taken off since the Covid-19 pandemic and today is the fastest-growing sport in the U.S., growing 311% over the past three years, according to the Sports and Fitness Industry Association. Pickleball players now make more money than Women’s National Basketball Association and National Women’s Soccer League players as the sport has attracted major sponsors, media deals and ad dollars.
After many years of dominating on the tennis court, Agassi said he caught the pickleball bug and fell in love with the social, inclusive nature of the sport.
He has traveled the world to help promote the sport through his partnership with Joola, a maker of pickleball gear. Agassi also serves as the inaugural chair of Life Time’s pickleball and tennis board.
As for his long-term pickleball plans, Agassi said not to expect him to join Major League Pickleball or the PPA Tour anytime soon.
“If I had the luxury of bandwidth to focus all my energy on just playing and body recovery and all that stuff, that would be a joy. But I don’t,” he said. “I’m in a different season now.” More

Fruitist, known for its jumbo blueberries, has surpassed $400 million in annual sales and received backing from Ray Dalio’s family office.
Sales of its jumbo blueberries alone have tripled in the last 12 months, fueling the company’s growth.
Fruitist, formerly known as Agrovision, relies on a vertically integrated supply chain and machine learning to produce berries that last longer on shelves.

Sales of Fruitist’s jumbo blueberries have tripled over the last 12 months, according to the company.
Source: Fruitist

Berry unicorn startup Fruitist has surpassed $400 million in annual sales, thanks to the success of its long-lasting jumbo blueberries.
The company, which was founded in 2012, announced on Tuesday that it is changing its name from Agrovision to Fruitist. It previously only used the name for branding its consumer products, which also include raspberries, blackberries and blueberries.

As sales of its berries grow, Fruitist has raised more than $1 billion from outside investors, according to Pitchbook data. Notable backers include the family office of Bridgewater Associates founder Ray Dalio.
Fruitist is reportedly considering going public as soon as this year, even as global trade conflicts hit stocks and raise fears about a global economic slowdown.
The company has tried to set itself apart in a crowded space in part by positioning its berries as “snackable.” The snacking category has been one of the fastest growing in the food industry in recent years.
While many consumers still enjoy potato chips and pretzels, many big food companies have expanded their portfolios in recent years to include healthier options. The adoption of GLP-1 drugs and the “Make America Healthy Again” agenda pushed by Health Secretary Robert F. Kennedy Jr. have made healthier snacking options even more attractive to both consumers and investors.
Today, Fruitist’s berries can be found in more than 12,500 North American retailers, including Costco, Walmart and Whole Foods. Sales of its jumbo blueberries alone have tripled in the last 12 months, fueling the company’s growth.

Fixing ‘berry roulette’

Fruitist co-founder and CEO Steve Magami
Source: Fruitist

Co-founder and CEO Steve Magami told CNBC that Fruitist was created to solve the problem of “berry roulette.” That’s what he calls the uneven quality of grocery store berries, which he blames on the business model of legacy produce players.
“You have a bunch of small growers that send their product to a packer, and the packer sends the product to a distributor or an importer, and then that player is either selling to the retailers or they are sending the product to another distributor to then sell to retailers,” Magami said. “You have this disjointed value chain that stifles quality.”
To sell more berries of higher consistent quality, the company grows its fruit in microclimates, with its own farms in Oregon, Morocco, Romania and Mexico. It also uses machine learning models to predict the best time to pick the fruit. Fruitist invested heavily in infrastructure, like on-site cold storage to keep the berries fresh before they ship.
The company’s vertically integrated supply chain means that its berries should last longer than the competition.
“I’ve intentionally let them sit in my refrigerator for three weeks, and they’re still great after three weeks,” Magami said.
Larger berries, like the company’s jumbo blueberries that are two to three times the size of a regular blueberry, also have a longer shelf life.
Looking ahead, Fruitist is planning to expand into cherries. The company is growing them now on its Chilean farms and plans to start shipping them next season, which means they could land in grocery stores by early 2026.
Magami said the company has invested more than $600 million to farm berries year-round and build a global footprint that spans North America, Europe, the Middle East and Asia.
To date, Fruitist has spent little of the funding it has raised on marketing, although that’s set to change. In February, Major League Soccer team D.C. United announced a multiyear deal with the company, including an exclusive sleeve patch partnership.

Tariffs and public plans

One push for public recognition could come in the form of an initial public offering.
In January, Bloomberg reported that the company was weighing going public as soon as June. Magami declined to comment on the report to CNBC.
If Fruitist decides to go public, it will enter a public market that has yielded mixed results for new stocks in recent years.
Produce giant Dole returned to the public markets in 2021. Shares of the company have risen 14% over the last year, outpacing the S&P 500’s gains of 2% over the same period. Dole, which reported annual revenue of $2.2 billion last year, has a market value of $1.3 billion.
However, market turmoil caused by the White House’s trade wars have led a number of companies, like Klarna and StubHub, to delay their plans to go public. But investors are interested in consumer companies with strong growth; shares of Chinese tea chain Chagee climbed 15% in the company’s public market debut on Thursday.
Trade tensions present other challenges for a global produce company. President Donald Trump has temporarily lowered new tariff rates on imports from most countries to just 10% until early July, but it’s unclear what could happen after that deadline. India, where Fruitist owns nearly 50 acres to grow blueberries, is facing a 26% duty, for example.
Still, Magami said the company is anticipating “minimal impact” from the duties, noting that it has been investing in U.S. production for years.
“We’re optimistic about how this will play out,” he said. “We don’t import to compete with the domestic supply, we import to actually provide 52 weeks.”
Luckily for Fruitist, the tariff rates are set to rise when domestic berries are in season.

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The first Chipotle restaurant in Mexico will open early next year after the company signed a development deal with Alsea.
In recent years, Chipotle has been trying to expand internationally, after decades focusing almost entirely on its U.S. business.
The Mexican development deal comes as President Donald Trump wages a trade war with the country, straining the relationship between the two neighbors.

Chipotle Mexican Grill logo is seen in Manhattan, New York, United States of America, on July 6th, 2024.
Beata Zawrzel | Getty Images

Chipotle Mexican Grill will open its first location in Mexico early next year as the latest stage in its international expansion.
The company announced Monday that it has signed a development agreement with Alsea, which operates Latin American and European locations of Starbucks, Domino’s Pizza and Burger King, among other chains.

After the initial restaurant opens in 2026, Chipotle plans to explore “additional expansion markets in the region,” which could mean broader Latin American development.
The deal to expand in Mexico comes as President Donald Trump wages a trade war with the country, straining the relationship between the two neighbors. Avocados from Mexico were originally subject to a 25% tariff until he paused new duties on goods compliant with the United States-Mexico-Canada Agreement. While Chipotle has diversified its avocado sourcing in recent years, it still imports about half of its avocados from Mexico.
In recent years, Chipotle has been trying to expand internationally, after decades focusing almost entirely on its U.S. business. The company operates 58 locations in Canada, 20 in the United Kingdom, six in France and two in Germany. Chipotle also currently has three restaurants in Kuwait and two in the United Arab Emirates through a deal with Alshaya Group.
Chipotle is betting that Mexico’s familiarity with its ingredients and appreciation for fresh food will win over consumers, according to a statement from Nate Lawton, Chipotle’s chief business development officer.
But U.S. interpretations of Mexican food don’t always resonate in the market; Yum Brands’ Taco Bell has twice attempted to expand into Mexico, but both efforts failed quickly. More

Peter Thiel is obsessed with atoms. The prescient venture capitalist has said that the Manhattan Project, which created the first atomic bomb, epitomised how America’s government used to “get things done”. He has long argued that an excessive focus on “bits” (software) at the expense of “atoms” (hardware) has helped produce economic stagnation in America. In 2015 he wrote that the country needed “a new atomic age” to produce clean, abundant energy. A decade later he has friends at the top of President Donald Trump’s administration who share his vision. It is starting to fall into place. More

For some Canadians, President Donald Trump’s tariffs may mean an erosion of trust with trade partners.
Canadian national pride has sparked resistance and inspired action from small businesses.
Canadian entrepreneurs are deciding which side of the border will absorb the costs of new tariffs.

Close-up of ‘Shop Canadian’ poster displayed in a local storefront in Edmonton, Alberta, Canada, on April 4, 2025.
Artur Widak | Nurphoto | Getty Images

Just across the U.S.-Canada border, some small businesses are taking tariffs personally.
President Donald Trump has said his wide-sweeping tariffs, even on some of the country’s closest trade partners, will rebalance international trade and bring manufacturing back stateside. But for the U.S.’s northern neighbors, tariffs may mean an erosion of trust.

The country’s trade relationship with Canada has historically been integral to both national economies. In 2024, the trade of goods between both nations totaled $762.1 billion. According to the Office of the United States Trade Representative, Canada exported over three-quarters of its goods to the U.S. last year, and U.S. imports accounted for almost half of all goods it brought in.
Starting in March, however, the Trump administration implemented a 10% tariff on Canadian energy and 25% tariffs on other imports from Canada and Mexico, a levy he’d promised on Inauguration Day. But he exempted many imports covered under the United States-Mexico-Canada agreement.
Trump also put a 25% tariff on vehicles not assembled in the U.S. that took effect earlier this month, a move that affects both Mexico and Canada, two major auto production hubs. In addition, a 25% tariff on auto parts is set to take effect next month.
Canada has responded with its own retaliatory tariffs, but national pride has sparked another kind of resistance.

Balzac’s Coffee Roasters highlights Canadian patriotism on its cafe menus.
Matthew Mikrut | CNBC

Balzac’s Coffee Roasters, a chain of cafes across Ontario and Toronto, has responded to trade tensions with a renamed menu item: the Americano — a commonplace espresso drink — is now a maple leaf-marked “Canadiano.”

Your Independent Grocers, a chain of independently owned supermarkets under the Canadian-traded Loblaw Companies, uses its own maple leaf badge to indicate products “prepared in Canada.” The grocer also indicates tariff-impacted items with a “T” logo in stores and online. 

Aisles at Your Independent Grocer in Niagara-on-the-Lake in Canada.
Cameron Costa | CNBC

Corinne Pohlmann is the executive vice president of advocacy at the Canadian Federation of Independent Business, of CFIB, which represents over 100,000 small businesses across 12 of Canada’s 13 territories and provinces.
About half of CFIB members are directly involved in either importing or exporting from the U.S., according to the organization’s December 2024 survey. That metric does not include reliance on suppliers and customers who are also trading with the U.S.
More than a quarter of CFIB members surveyed in late March reported seeing stronger demand for Canadian-owned products. More than half of the surveyed businesses agreed that the U.S. is not a reliable trading partner. 
The trade tensions have extended to some long-standing relationships between U.S. and Canadian small businesses, she said, as entrepreneurs decide which side of the border will absorb the costs of new tariffs. Pohlmann recalled some CFIB members asking for guidance on how to renegotiate contracts with partners to the south.
Pohlmann said the tariffs are causing emotional distress, in addition to cost increases.
“For a lot of Canadians, it felt like a betrayal,” Pohlmann said.
The Liquor Control Board of Ontario halted its purchases of U.S. products starting on March 4. The LCBO retail store in Niagara-on-the-Lake displays signage that reads, “For the good of Ontario, for the good of Canada,” explaining the disappearance of U.S.-made products like California wines and Tito’s Vodka. 

A worker removes bottles of American-made wine from a shelf at the Liquor Control Board of Ontario (LCBO) Queen’s Quay store in Toronto, Ontario, Canada, on Tuesday, March 4, 2025.
Christopher Katsarov Luna | Bloomberg | Getty Images

It’s not always clear cut, though.
A representative for LCBO press clarified via email to CNBC that any product made in Canada, like locally produced Coors Light beer, is OK to grace shelves, regardless of the company’s ownership.
Molson Coors has production facilities in both Canada and the U.S.
“While we are a global business, our beers and beverages are generally made in the markets in which they are sold,” said Molson Coors Senior Director of Communications Rachel Gellman Johnson.
Tariffs are typically a tool of “hard power,” prompting geopolitical change by coercion. The U.S.’s long-standing relationships with trading partners like Canada, Mexico and Japan have bolstered the country’s influence on the global stage.
Beyond the numbers, it’s U.S. influence, or so-called “soft power,” that may take a hit.
Former Secretary of State Antony Blinken told CNBC’s Andrew Ross Sorkin this month that a hit to the country’s soft power is his biggest fear in today’s environment.
“The idea that we would not only see China try to develop more soft power, but that we would cede our own…not good for the country, not good for our interests,” Blinken said.

Even if President Trump lessens tariffs, Canadian businesses may be hesitant to rebuild trading relationships with U.S. partners. CFIB’s Pohlmann pointed to lost contracts and eroded trust.
“While we’d welcome a permanent reprieve from tariffs, the trading relationship between Canada and the United States has been fractured and may never be the same again,” Pohlmann said. More

Netflix executives said the business has remained stable amid recent economic turmoil.
Still, the company declined to revise 2025 guidance upward, despite saying it is “tracking above the mid-point” of its stated range.
Netflix cited its previous history of successfully weathering economic downturns.

Greg Peters, Co-CEO of Netflix, speaks at a keynote on the future of entertainment at Mobile World Congress 2023.
Joan Cros | Nurphoto | Getty Images

Netflix executives messaged Thursday that all is well with the business in the face of economic turbulence. But its full-year outlook tells a slightly more nuanced story.
Netflix posted a big beat on operating margin for the first quarter, reporting 31.7% compared with the average estimate of 28.5%, according to StreetAccount. And it guided well above analyst estimates for the second quarter — 33.3% against an average estimate of 30%.

By its own phrasing, Netflix was “ahead” of its own guidance for the first quarter and is “tracking above the mid-point of our 2025 revenue guidance range.”
Still, Netflix declined to alter any of its longer-term projections. That suggests Netflix isn’t quite as confident in its second half.
“There’s been no material change to our overall business outlook since our last earnings report,” Netflix wrote in its quarterly note to shareholders.
U.S. consumer sentiment is at its second-lowest level since 1952 as President Donald Trump’s new tariff policies roil markets.
Co-CEO Greg Peters noted during the company’s earnings conference call that Netflix has, in the past, “been generally quite resilient” to economic slowdowns. Home entertainment provides a cheaper form of leisure than most other activities. A monthly Netflix subscription with ads costs $7.99.

But the question remains how — or whether — an economic slowdown would pinch Americans’ wallets and force higher churn among streaming subscriptions.
Netflix stopped reporting quarterly subscriber numbers this quarter, so the company will likely not detail if it sees a customer slowdown later this year beyond reporting its underlying revenue and profit.
First-quarter revenue of $10.5 billion was roughly in line with analyst expectations, while second-quarter guidance of $11 billion is slightly above.
“Retention, that’s stable and strong. We haven’t seen anything significant in plan mix or plan take rate,” said Peters. “Things generally look stable.” More