432 Park Avenue Tops Out | The Tallest Building* in the Western Hemisphere

The uber luxury condominium being developed in New York, 432 Park Avenue, topped out Friday at 1,396 feet high making it the tallest residential building in the Western Hemisphere. If you don’t include the 400+ foot high antenna on top of One World Trade Center, then the top floor is actually 28 feet higher* than One World Trade delivering breathtaking views to its future residents. For the high net worth individual, owning one of these amazing homes with its promised luxurious finishes and views will set you back $17 to $80+ Million. Preview these incredible views – watch the video (below).

Historically, New York’s former top condominium buildings like Time Warner and 15 Central Park West delivered immense investment returns when first owners re-sold their homes. Looking for views and financial security? 432 Park stands out in the luxury home market for its iconic height and world renown location on Park Avenue. 

Sales and Marketing: Courtesy by Douglas Elliman Development Marketing and Macklowe Properties

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Grand Central Grandeur – Its Secret Rooms and History

To the thousands of New Yorkers and visitors who pass through Manhattan’s Grand Central Station, there is always a moment of silence and awe when they see the grandeur of it. For those who know that once it was doomed to be destroyed and even after it was saved, the walls and ceiling were dingy, the windows obscured by black paint from World War II, to see it today is breathtaking.

This short video by Above New York takes you into Grand Central’s secret rooms and is a reminder that behind the scenes in our great city, thousands toil unseen to make New York the wonderful home that it is for millions and the dream of many more.

Grand Central Grandeur from Above York, LLC on Vimeo.

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New York’s Fall Real Estate Luxury Market Starts Strong

New York’s Fall Real Estate Luxury Market Starts Strong Downtown Manhattan as seen from the Empire State Building - Photo by Tony Sargent (C) 2014

The Manhattan real estate market is picking up again in the luxury sector. While there was a slight lull in the summer between mid-June and July by August properties that had been on the market for a month or two started going to contract.  While I was in in San Francisco in July at Inman Connect’s real estate conference speaking on a luxury panel, I heard that the mid-luxury levels in San Francisco and Los Angeles had also been slow for a month or more. Was the market turning?

Traditionally the Fall market in New York is our secondary market – Buyers who did not have a chance to secure a property in the robust spring market re-enter market again in the Fall after a summer off.

I believe the Fall market started early this year – in August. The intense seller’s market for the first six months of the year lead to a slower June and July because of buyer fatigue. Added to that, listing inventory while having climbed somewhat in the 2nd quarter of 2014 over the 1st quarter was still well below the 5-year averages making it more challenging for buyers to find the properties they hoped for – rather than continuing a seemingly futile effort they stopped. (Read Streeteasy’s July Condo Report here)

As a result, in my view the level of pent-up demand is still extremely high. The buyers who are willing to step up and make a quick decision and not sweat the small stuff with regards to negotiations will buy properties this fall. Those buyers who are choosy and question every aspect of the deal or contract will be a disadvantage in negotiations.

For the buyers who’ve decided to stay put in their current homes until ‘the right one’ shows up some will (like many before them) choose instead to stay put and to invest in a country or Hamptons home to provide the escape from Manhattan.

What I’m seeing in the first two weeks of September is that the mid to high-end luxury market is very strong and contracts are getting signed on new properties and those which had seen showings but no contracts. Listings that I have been following as well as new developments also reported signed contracts in the first 19 days of September. For me August was very busy with properties that went to contract including 30 Bond, Penthouse and 200 Eleventh Avenue after multiple bids.

In the luxury development market new properties have started to be announced for the fall market. The face of New York’s residential real estate is changing, as is the design and height limits. With super tall sky-scrapers coming to the city, it will be interesting to see what the future holds for the world’s global elite in terms of luxury offerings in the future. It’s an exciting period in residential design.

 

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Michael Stern Discusses New York’s Stella Tower & New Real Estate Developments

An interview with Michael Stern, one of the key developers behind the now renown super-luxury Chelsea development, Walker Tower, which broke price records and paved the way for even more high-end developments downtown. His newest luxury development, Stella Tower has been selling extremely fast in Hell’s Kitchen. CURBED published the floor plans for the yet to be released $14 million Penthouses a week ago. Stella Tower is being marketed by Douglas Elliman. To me, the rapid transformation of fringe neighborhoods into luxury enclaves like West Chelsea and the continued development of Hell’s Kitchen is truly an incredible New York real estate story. While some lament the past, I lived in Hell’s Kitchen in the early 1990’s and one certainly had to watch one’s back walking home at night. Not any more. New York continues to transform as it always has. – NYS Disclosure

 

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New York Fridays: The People & Places That “Keep It Real”

While we all love luxury real estate and New York’s high-end stores and restaurants and many of us are fortunate to experience this luxury level of living, each day as we wake, go to work, have fun, watch a show, there are 8 million other people in this great city of ours who are “Keeping it Real”.  Like all of us, they go about their days doing their job and making a difference.

Every week I have the fortune of going in and out of luxury homes and buildings. In between I may be in my Uber or a Taxi or if traffic is a bear, the subway. When I pause to look up from my phone, there are people everywhere – from all nations and cultures around me.

It is the people of New York which makes New York so amazing and gives it its unique energy and style.  People come here many times for a new life. With hope from all walks of life and all nations they come here – we come here to make a difference. It’s what inspires me each day – if I can make a positive difference in my clients’ lives and help them realize their real estate dreams, then I can feel I was able to give them the gift of moving into the next chapter of their lives smoothly, and with confidence.

New York inspires me every day to be better, to grow and to give back. So here’s my debut of New York Fridays – A tribute to this great city, its people and places. It may be a moment to share a photo, a video, a story of someone I’ve met that week.  Or perhaps you may want to share your photo or story? This 2 minute video clip made me smile with joy – for it reminded me of how I fell in love with New York in 1985, on a visit from college to the city for an interview. As I walked out of Grand Central the buzz of the city and its people caught me by surprise. I never  looked back. I hope this video will make you smile and fill your Friday with joy. It has mine.

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Macy’s 4th Of July, 2014 Fireworks – Where To Watch in New York

Macy’s 4th Of July, 2014 Fireworks – Where To Watch in New York Top Left to Right Clockwise - Images Courtesy of Macy's | New York Harbor Photo by Tony Sargent

Happy Fourth of July New York! This year marks the first time in five years that Macy’s July 4, 2014 fireworks show will return to the East River from the Hudson River side.  It will therefore be visible from many points with open views of the lower East River in Manhattan, Brooklyn and parts of Queens. Read more…

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Bond Street and the Allure of Noho’s Luxury Real Estate

Bond Street and the Allure of Noho’s Luxury Real Estate Noho Views | Photos by Tony Sargent (C) 2014

One of the most exclusive streets in Noho, Bond Street is receiving a few new luxury neighbors. Currently under construction is Annabelle Selldorf’s 10 Bond Street, which is selling well and receiving praise for its design. Prices start at $4.55 Million (Exclusive is with Corcoran Sunshine). BuzzBuzzHome wrote that 31 Bond Street, a six story cast-iron beauty built in the 1880’s which sold in late 2013 in an off-market deal to Josh Gurwitz’s Good Properties, has just filed its plans for residential conversion; an additional story will be added to the building and it will of course house a trio of luxurious apartments and services to match.

Over the last 20 years Noho, (generally the area between Houston and 8th Street, Broadway and Third Avenue) has evolved into one of the most exclusive residential and bohemian-chic areas of Manhattan. Read more…

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New York’s Fall Real Estate Luxury Market Starts Strong

Posted on September 23, 2014

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