Category: New York

Met Gala Preview 2016

Met Gala Preview 2016 Photo: iStockphoto/Samaro

Fashion’s hottest night is just days away. This coming Monday, May 2nd, the fashion world will convene on the Metropolitan Museum of Art for the museum’s annual Met Gala helmed by Vogue editor Anna Wintour. Everyone from Beyoncé and Jay-Z to George and Amal Clooney to fashion world icons like Cara Delivigne and Stella McCartny clamor for invitations, Read more…

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New York Design Spotlight: Michael Aram

Michael Aram Home Brings Modern Energy and Timeless Tradition to NYC’s Luxury Real Estate Interiors

In Hindi, “aram” literally translates as “ease”. Hindi speakers use the word to connote gentle movement with peace, love and care. This is exactly the ethos award-winning artist Michael Aram evokes in his timeless metal-ware, home-ware and fine jewelry designs. Read more…

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Monday Market Video: Average Manhattan Home Now Costs $2M

Alexis Christophorous Interviews Jonathan Miller on Manhattan’s Luxury Market & Foreign Buyers

Last week major real estate firms in Manhattan issued their Q1 2016 Manhattan Market Reports. According to the reports, the average Manhattan home now costs $2 million. The reports also reveal some interesting insights into foreign buyer trends and the larger real estate market.

When speaking to clients in the last few months, these questions have come up repeatedly Read more…

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Remembering Zaha Hadid

Remembering Zaha Hadid Cultural Center, Baku Azerbaijian by Zaha Hadid - Photo: iStockphoto/Asurobson

“People think that the most appropriate building is a rectangle, because that’s typically the best way of using space. But is that to say that landscape is a waste of space? The world is not a rectangle.” – Dame Zaha Hadid

Recently, when I learned the sad news of Dame Zaha Hadid’s passing, I was reminded of the moment in 2015 when Read more…

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Manhattan Market: What Does a $2.5M Condo Really Cost Foreign Buyers Today?

Manhattan Market: What Does a $2.5M Condo Really Cost Foreign Buyers Today? Rise in local currency cost to a foreign buyer for $2.5M NY property, from 2014 to 2016 based solely on currency value fluctuation

Much has been written about Chinese and Russians dropping $30+ million on Manhattan luxury condominiums since 2012. As a result, even sellers of condos priced between $1-4 million ask: “Where are the foreign buyers for my home? What will you do to attract them?”

While huge amounts of foreign currency is being spent on US real estate, not every property type is benefiting from it or is appealing to an international buyer. Generally, foreign buyers who Read more…

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5 Questions to Ask Your Listing Broker: Why High Listing Prices Can Be Deceptive

5 Questions to Ask Your Listing Broker: Why High Listing Prices Can Be Deceptive 66 Ninth Avenue, The Porterhouse Condo - Photo: Rich Caplan

In the face Manhattan’s rapidly evolving real estate micro markets, deciding on a listing price for your Chelsea or West Village luxury home requires careful consideration.

Deciding on Listing Price: Considerations for Your Listing Broker

When interviewing a listing broker, nearly every conversation boils down to this question: “What price should I list my property at?”

If your potential broker follows up with a record listing suggestion, dig deeper into the reasoning behind this suggested listing price and the broker’s track record. I recommend asking the following five questions: Read more…

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Monday Market | For Sellers: Are Prices Dropping Downtown?

Monday Market | For Sellers: Are Prices Dropping Downtown? West Chelsea's High Line District and Cary Tamarkin's 456 West 19th Street | Photo: Tony Sargent

Has ultra-luxury development gone too far? Cary Tamarkin’s 10 Sullivan development announced that it is splitting its 8,000 Square foot Soho Penthouse, following CIM Group and Macklowe Properties late 2015 decision to do the same to some larger unsold units at the ultra-luxury 432 Park Avenue. Brokers have begun to quietly wonder if we’ve hit the peak of luxury in price point and market saturation.

Starting in 2013, strong demand for downtown luxury new developments combined with extremely low re-sale inventory caused re-sale values to skyrocket. The price-per-square-foot ceiling rose on all sales as local, domestic and international buyers snapped up properties at a frenetic pace.

Lately though, I’ve been noticing Read more…

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Quick Market Update – NYC Luxury Real Estate

Posted on March 15, 2018

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