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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How Tech Transformed Venice Beach Real Estate

How Tech Transformed Venice Beach Real Estate Venice Beach is fast becoming Silicon Beach | Photo: iStock.com/MyDinga

Why do some neighborhoods transition and become the hottest addresses in town seemingly overnight while others stagnate? One trend my team and I are watching closely this year is the role of tech in neighborhood place making. Earlier this year, we took a closer look at how the co-working revolution is reshaping New York real estate from Midtown East to Brooklyn. Out in LA, tech is also the driving force behind residential property spikes, especially along “Silicon Beach”. Read more…

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5 Spring Must-Dos for Manhattanites

5 Spring Must-Dos for Manhattanites Spring in Central Park's Sheep Meadow with One 57 in the background | Photo: Tony Sargent

As our warmer than usual winter recedes, spring is slowly taking hold in New York and city-dwellers are trading their Canada Goose parkas for spring’s floral dresses and Chanel espadrilles. My team has rounded up a few of our favorite places to chill or see and be seen this spring in the city – Read more…

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Monday Market: International Minute

Monday Market: International Minute Hong Kong real estate market in decline? Photo: iStock.com/JonasBrodd

One of the top questions my international clients ask is, “How does New York’s luxury real estate market compare with top international markets?” While New York luxury real estate’s top-end has showed some cooling in recent months due to over-supply above $10M, demand continues for luxury homes (especially 3+ bedrooms) priced between $3 and $5 million.

Despite a strong dollar, New York is still an attractive buy for foreign investors versus other top global markets, given New York’s political and economic stability and more affordable prices. At the same time, expect savvy US-based investors to explore expanding their global portfolios.

For buyers and investors from China who can expatriate funds, US and New York real estate continue to be strong beacons of hope. While the dollar has risen against China’s Yuan, the Yuan’s Read more…

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

Posted on April 4, 2016

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