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  • Apr 30
    New Condo Prices Expected to Hit Record $5.9M Average in 2015
    MANHATTAN — For mere mortals who dream of living in one of the fancy new developments going up in Manhattan, sober up: The average price of units in these new buildings is expected to reach a record $5.9 million this year, according to a report released Tuesday from CityRealty. That's more than double the average price for a Manhattan condo, which will hit $2.7 million in 2015, according to the report. Using pricing information of the 4,881 new development units from active and ...
  • Apr 21
    Art and Real Estate are the New Gold
    The rich have always found creative ways to safeguard their wealth—Swiss banks accounts, safes hidden behind the walls and, of course, bars of gold. But now, gold is being replaced as a store of wealth by a new breed of investments. According to BlackRock CEO Laurence D. Fink, art and real estate are outshining gold as a means of securing today's fortunes. "Historically gold was a great instrument for storing of wealth," the chairman of BlackRock said Tuesday at...
  • Apr 15
    NYC to outpace London as go-to destination for the super-rich
    New York City will be home to the world’s largest number of super-rich by 2025, surpassing the current leader London, representatives from global property consultancy Knight Frank said at a discussion Tuesday. A driver of this shift is the increased emigration of multimillionaires from certain countries such as Russia and China, according to Knight Frank’s head of research, Liam Bailey. A staggering 33 percent of Russia’s ultra-wealthy, for example, are considering movin...
  • Mar 25
    WHY INVESTING IN MANHATTAN LUXURY CONDOS IS A SMART MOVE Typically, real estate is seen as a diversifying asset class in which to invest, with low correlations to traditional portfolios of stocks and bonds. One of the first real estate markets to bounce back from the Great Recession was New York City. New York City property prices are a hot commodity, stabilized by the many companies headquartered there as well as by employment of high-income sectors such as finance and banking, arts and ente...
  • Mar 18
    Jean Nouvel's Masterpiece - MoMA Tower at 53 West 53 Street
    Name: MoMa Tower Address: 53 West 53 Street, New York Architect: Jean Nouvel Developer: Hines Type: Luxury Condominiums   Overview: Hines, along with partners Goldman Sachs Real Estate Principal Investment Area and Pontiac Land Group of Singapore, are developing 53W53 Street, an iconic residential condominium project that will be adjacent to the Museum of Modern Art (MoMA).  Designed by Pritzker Prize-laureate Jean Nouvel, the sweeping 82-story, 750,000-square-foot tower will...

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