Archives for posts with tag: Manhattan luxury home

Hi,

Another quarter and another record breaking set of numbers for Manhattan and Brooklyn real estate.

The boom of the luxury and super high end condos have pulled the average price of a Manhattan apartment to an all-time high $1.81M and also helped trigger a rise in inventory with the sales commencements of several high profile New Developments across the borough.

Brooklyn also gets its share of records with the average price per square foot breaking a 7-year high to reach $704/sf. The historically low inventory has risen over the last quarter but in proportion far from the levels that a market requires to reach equilibrium.

In addition to the traditional Corcoran Manhattan and Brooklyn market reports, this newsletter will touch base on the current relationship between Manhattan inventories, price level and the effect of New Developments in the borough. To follow, the impact of Global Wealth and its potential contribution to New York Real Estate along with the consequences of China’s economy will present data that could help developers keeping their cool in regards to the rise in super high end properties hitting the market. Finally, Brooklyn’s alarming lack of inventory may show a swift in current developers’ strategy to anticipate a change of plans and bring more products for sale quicker than expected to feed a demand starved of choices.

I truly hope that this newsletter will be beneficial and informative while shaping your future real estate plans. Please feel free to contact me should you want to consult on your real estate projects.

Cheers,

Q2_2015_Newsletter

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HI,

I hope you are having a great start of 2015 and wish you great health and success for this exciting new year!

2014 has seen several records shattered in many market segments and locations. A recap of the Manhattan Q4 2014 report is bringing new insight about what moved the market over the past 12 months with some perspective on the current level of inventory.

With the upcoming of about 6,500 new units on the market (almost 50% already in contract), I also found it necessary to talk about the concept of New Developments, explain what they are, and which segments of the market they’ll be affecting in the next year.

Finally, Brooklyn’s sellers’ market is becoming more and more challenging to navigate with a highly competitive pool of buyers, increasing prices, low inventories, and only a few New Developments scheduled to hit the market. (Brooklyn Q4 2014 included)

I truly hope that this newsletter will be beneficial and informative while shaping your future real estate plans. Please feel free to contact me should you want to consult on your real estate projects.

Cheers,

Q4_14_Newsletter

From its opening in 2009, the High Line park has not only been a magnet for tourists and New Yorkers, but more significantly real estate projects. Among the 30 developments in the works, a notable one from the Related Companies has emerged, featuring starchitect Zaha Hadid. She is known for being the first woman to win the Pritzker Prize in 2004, architecture’s top recognition. Her works can be seen around the world and feature the Olympics’ Aquatics Center in London as well as the Opera House in Guangzhou, China.

With the upcoming condominium project at 520 West 28th Street, Zaha Hadid’s style featured in 40+ countries will finally have a footprint on the Manhattan ground and skyline. This 11-story building’s construction will be made of steel and glass, and its design will carry on curvy lines with set backs, and Hadid’s signature space-age style. The project consists of 37 apartments of up to 5,500sf with each of them offering “an arrangement that reinvents the spatial experience, each residence will have its own distinctive identity, offering multiple perspectives and exciting views of the neighborhood”.

The residents will enjoy a private courtyard, a rooftop, indoor pool and spa as well as a playroom. Units will feature 11ft ceilings and top amenities, with some having a private keyed elevator access.

For her first New York project, this is quite a statement already, and hopefully, one that will repeat. 

ZAHA2

ZAHA