Tag: Condo

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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The High Line District – Manhattan’s Newest Luxury Enclave

The High Line District – Manhattan’s Newest Luxury Enclave Evening Falls Over Jean Nouvel's 100 Eleventh Ave Luxury Condo (L) with Frank Gehry's IAC Building (R) | Photo by Tony Sargent (C) 2013

The area along the 10th Avenue corridor from 16th Street to 30th Street is fast becoming Manhattan’s newest luxury residential neighborhood. Renaming it “The High Line District” instead of the generic “West Chelsea” will best capture the district’s new and exciting eclectic nature and architectural significance.

Already featuring a mix of boutique condos, long-established art galleries, and distinctive architecture designed by such luminaries as Jean Nouvel, Frank Gehry, Annabelle Selldorf and Shigeru Ban, now new developments of uber luxury residential condos are coming to the area including modern designs by Thomas Juul-Hansen, Norman Foster, Zaha Hadid and other prominent architects. These projects are being developed by HFZ Capital, the Related Companies, Cary Tamarkin and others to create an exclusive new neighborhood deserving of new recognition. Read more…

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Why Manhattan Real Estate Keeps Attracting International & Domestic Buyers Alike

International and local buyers keep falling in love with Manhattan real estate. Downtown, buyers are snapping up luxury new developments in Tribeca (56 Leonard), Chelsea (Walker Tower), West Chelsea and the West Village (150 Charles) and its expected that several new Hudson Yards projects including 520 West 28th to be designed by famed starchitect Zaha Hadid for Related will sell out quickly.

Manhattan real estate prices on average double every ten years drawing investors, however, I believe part of the magic of New York is that moment when one sees the lights of the city or a view one never had seen before. The city continues to grow and improve adding to its live-able quality and attracting buyers from all demographics and nationalities. Of course many old-timers lament the city’s change, but change is a constant in New York.

Cameron Michael has captured the essence of Manhattan in this Manhattan Project time-lapse video, which I wanted to share with you. Fall in love again…

The Manhattan Project HD from Cameron Michael on Vimeo.

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Tony Sargent of CORE is Featured on Tonight’s Episode | HGTV’s Selling New York – Thurs Feb 28th – 6:30PM EST/PST

Tony Sargent of CORE is Featured on Tonight’s Episode | HGTV’s Selling New York – Thurs Feb 28th – 6:30PM EST/PST Selling New York Logo courtesy of HGTV

I’m delighted to share that today, Thursday, February 28th at 6:30pm EST, HGTV’s Selling New York will air a new episode featuring my clients, an international couple, facing a true New York real estate challenge. The couple and their 3-year old daughter welcome twin boys into the family. Sarah and her husband quickly realize their 2-bedroom Bowery condo is too small. Prices on 3-bedroom lofts are rising fast, but they must sell their current home to be able to buy. Read more…

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Condo to rise on former Ratner’s site off Delancey | Crain’s New York Business

Lower East Side Condo Development News: Crain’s reported that Urban-Scape, a Brooklyn-based developer recently purchased 100 Norfolk St in the Lower East Side with the intent to build a new condominium opposite the existing Blue building on Delancey St. Despite the 120′ height limits implemented in the Lower East Side after the 16-story Blue was built, Urban-Scape reportedly owns the neighboring properties to 100 Norfolk allowing for the transfer of air rights to the lot.

Expect to see more development in the Lower East Side Read more…

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Brazilians Buying Up Miami – New York Next? Brasileiros Comprando Miami – Apartamentos em Nova Iorque Próxima?

With Brazil’s economy booming, visa applications for travel to the United States have skyrocketed. Many of Brazil’s new middle class are coming to the U.S. looking for deals on consumer goods and are joining those who have come before as investors in real estate. For many Latin Americans Miami is the natural first stop. After that New York follows, especially for Brazil’s high net worth individuals.

Compared to São Paulo, Rio and other world cities, Read more…

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Tight Inventory and More Buyers Lead to Multiple Bids Downtown

Tight Inventory and More Buyers Lead to Multiple Bids Downtown 380 West 12th St, Apt 4D - West Village, New York

The Manhattan Real Estate Market has tightened in the last months and even more for Downtown Condos and Downtown Co-ops. Accurately priced properties are receiving multiple bids again. Open Houses are getting crowded again. My new Loft listing at 380 West 12th St – Apt 4D, had over 45 people visit the first open house, Sunday March 13th. Contract volume is up, new inventory is down.

In January, a Penthouse Loft in Tribeca (approx. 1,900 SqFt + a terrace) was listed for $2.9 Million for two weeks but did not sell. Last week the sellers put it back the market for $2.6 Million. The open house was mobbed, multiple bids were received and the seller accepted an offer in two days. A recent article in The Real Deal highlighted Read more…

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

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