New York City

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220_exteriorIn 2014, NYC became the world’s #1 property market. Prices increased 20%, and a milestone was passed with the first ever sale of a $100 million apartment. Several property developments, long in the works, are coming online in 2015.  The much awaited 220 CPS has finally opened its doors.  We expect it to be the most successful project since 15 CPW.

Smaller, more creative apartments in boutique developments will win the day. One such notable project this year is Zaha Hadid’s first NYC creation, in Chelsea near the Highline. People are already lining up to buy it.

For the Buyer:

tax-and-legal

Tax & Legal Issues For Foreign Buyers/Sellers of New York Real Estate

Co-Op vs. Condo: It is usually easier to purchase a condominium than a cooperative. Cooperatives require purchasers to be interviewed and they can legally reject a buyer without providing a reason. Cooperative boards also ask for extensive personal and financial information and do not cater to non-resident owners. …Read More

 

 

 


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THE NEW YORK OBSERVER | West Side Smackdown: Central Park West vs. Riverside Drive

The article discusses what is more desirable, Central Park or Riverside. Central Park West is preferred, as the apartments are bigger and the grandeur of the Central Park view is the attraction for many. Commenting on the smaller apartments found on Riverside Drive, Royce Pinkwater, Founder and CEO of Pinkwater Select, said: “This size is often the…

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THE NEW YORK POST | Buy Bruce Willis’ old Central Park West pad for $12.9M

Bruce Willis and Emma Heming’s former apartment at The Eldorado, located at 300 Central Park West, is back on the market — for $12.9 million. Goldman Sachs hotshot Armen Avanessians, who heads Goldman Sachs Asset Management’s quantitative funds business, and his wife, Janette, bought the fourth-floor unit earlier this year for $12.75 million. The Avanessians…

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REAL ESTATE WEEKLY | Developers divide and conquer to reign Manhattan market

In the era of “too big to fail,ˮ panelists at last week’s New York Real Estate Expo discussing New York Past and Present pointed to the trend in jumbo-sized luxury homes as the market antithesis. “Macklowe is dividing the top floors of 432 Park and that clearly shows there is a limit to how many…

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Monique Lhuillier’s Manhattan townhouse flagship hits market for $26.5M

From The Real Deal: The Upper East Side home of design house Monique Lhuillier is on the market for $26.5 million. Lhuillier, who’s dressed celebs such as Gwyneth Paltrow, Jennifer Lopez and first lady Michelle Obama, opened her first U.S. boutique on the lower floors of the converted townhouse, at 19 East 71st Street, in 2012,…

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For Foreign Buyers, Family Homes Over Trophy Towers

From The New York Times: DeLuca in SoHo. There, he ran into a wealthy businessman he knew from São Paulo, Brazil. “I was shocked when I saw him,” said Mr. Amaro, the chairman of the Latam Airlines Group. “You would never see a high-profile person like him going to the grocery store back home, especially…

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14 East 11th Street Featured in The New York Post

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More Celeb Real Estate on the NYC Market Than Anywhere Else

(John Legend and Chrissy Teigen are selling their one-bedroom apartment in the Brewster Carriage House at 374 Broome St. for $4.5 million.) New York has more celebrity-owned real estate than any other city in the United States, with Los Angeles trailing closely behind, real estate experts told us. But instead of contributing to the city’s…

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Believe it or Not: New York Real Estate is Perfectly Priced

From Quartz.com: In the rankings, London and Hong Kong are firmly in “bubble risk” territory. In Hong Kong, a 60 square-meter (around 650 square-foot) apartment near the city center now costs the equivalent of 21 years of salary for the average skilled worker. Meanwhile, in London—the bubbliest of them all—foreign demand for safe-haven assets has…

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New York real estate maintains high demand

Despite a 4.5 percent drop in average sales price from the second to the third quarter of 2015, prices are still at 1.5 percent increase compared to the year-ago. Additionally, property is on the market for one week less than the previous quarter, representing the city’s inventory shortage and high demand. In the second quarter of 2015, New…

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NYC’s newest to know: The ‘Upper-Upper’ West Side

A stroll north through the heart of the Upper West Side, an area chock-full of handsome prewar properties, will eventually lead you to a largely landmark-free zone where newer buildings abound. And this northernmost stretch of the neighborhood spanning 96th to 110th streets —let’s call it the “Upper Upper West Side” — now has a…

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