A joint study by real estate brokerages Knight Frank and Douglas Elliman, in collaboration with LonRes, HM Land Registry and the Memfus Wong Surveyors Ltd., has found the most "exclusive residential location" in the world is New York City's 57th Street—home to luxury high-rises including 432 Park Ave. and One57.

According to Marketwatch, the midtown street has seen "41 residential transactions over US$25 million in the last five years, at an average sales price of US$38.5 million." Fifty-seventh Street tops a list of iconic locales—edging out Hong Kong's own Mount Nicholson Road at The Peak—which boasts the highest average property sale price at US$81.8 million, and, over the past half-decade, has seen 35 sales over US$25 million.

The 10 most expensive streets to live on in the world are:

1. New York City — 57th Street
2. Hong Kong — Mount Nicholson Road
3. New York — Central Park South
4. New York — Park Avenue
5. London — Grosvenor Square
6. Hong Kong — Mount Kellett Road
7. New York — Fifth Avenue
8. Los Angeles — Pacific Coast Highway, Malibu
9. Hong Kong — Conduit Road
10. Palm Beach — South Ocean Boulevard

New York's 57th Street is home to iconic retail, as well, equipped with Bergdorf Goodman, a Louis Vuitton flagship, the Hepburn-immortalised Tiffany & Co., a Chanel, an Hermès, and Dior.