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Is this sale a game changer?

Started by Riversider
over 13 years ago
Posts: 13572
Member since: Apr 2009
Discussion about
http://www.bloomberg.com/news/2012-05-18/manhattan-penthouse-sale-at-luxury-tower-sets-record.html A duplex penthouse at a tower under construction on Manhattan’s West 57th Street went under contract for more than $90 million, setting a record for a single residence in the borough. The 11,000-square-foot (1,000-square-meter) unit, spanning the 89th and 90th floors of the building known as One57, sold at a price between $8,000 and $9,000 a square foot, Gary Barnett, president of developer Extell Development Co., said in a telephone interview. He declined to name the buyer.
Response by Riversider
over 13 years ago
Posts: 13572
Member since: Apr 2009

“You have a 10,000-square-foot trifecta this week,” said Jonathan Miller, president of New York appraiser Miller Samuel Inc. “There is a small group of affluent investors that are looking for trophy properties and New York has been happy to oblige. I wouldn’t be surprised if there were more coming.”
Price Increases

The penthouse at One57 was listed for sale at $115 million after a series of price increases, according to Barnett.

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Response by Brooks2
over 13 years ago
Posts: 2970
Member since: Aug 2011

if you are a billionaire.. no, not even then.

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Response by kylewest
over 13 years ago
Posts: 4455
Member since: Aug 2007

Nyc is still THE place to have a trophy apt. Good for all of us.

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Response by Truth
over 13 years ago
Posts: 5641
Member since: Dec 2009

Yes it's THE place. Hong Kong, Paris, London don't come close and the wealthians don't consider themselves properly trophied until they own in NYC.

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Response by kylewest
over 13 years ago
Posts: 4455
Member since: Aug 2007

@ truth: i love that. Bankers being fired threads, lawyers out of work threads, goldman on the skids threads....meanwhile the money still says you havent made it if you arent in NYC.

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Response by columbiacounty
over 13 years ago
Posts: 12708
Member since: Jan 2009

trickle down is proven not to work.

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Response by drdrd
over 13 years ago
Posts: 1905
Member since: Apr 2007

Mine is bigger than yours! ~ AND DON'T YOU FORGET IT!

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Response by Truth
over 13 years ago
Posts: 5641
Member since: Dec 2009

Yes, it's a New York state of mine.

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Response by huntersburg
over 13 years ago
Posts: 11329
Member since: Nov 2010

>columbiacounty
about 5 hours ago
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trickle down is proven not to work.

So what's your plan columbiacounty since clearly no great fortune has trickled on to you?

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Response by columbiacounty
over 13 years ago
Posts: 12708
Member since: Jan 2009

the fool is back.

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Response by huntersburg
over 13 years ago
Posts: 11329
Member since: Nov 2010

columbiacounty, how's your trickling going on?

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Response by columbiacounty
over 13 years ago
Posts: 12708
Member since: Jan 2009

how exciting is it for you?

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Response by huntersburg
over 13 years ago
Posts: 11329
Member since: Nov 2010

why

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Response by tommyleenyc
over 13 years ago
Posts: 16
Member since: Dec 2008

media/tech/foreign money is the new banker/lawyer money

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Response by Brooks2
over 13 years ago
Posts: 2970
Member since: Aug 2011

its always been there(media\tch\foreign). Not going to have an impact. especially when the economy is in the crapper. RE still taking a dive.

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Response by Riversider
over 13 years ago
Posts: 13572
Member since: Apr 2009

Last few months, I've seen a lot more brokers showing clients around, what new construction is being built is selling as well. People are looking for primary homes and investment properties.

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Response by columbiacounty
over 13 years ago
Posts: 12708
Member since: Jan 2009

how strange.

i've seen less brokers showing less clients around. i've seen new construction just sitting. People aren't buying anything.

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Response by huntersburg
over 13 years ago
Posts: 11329
Member since: Nov 2010

So all of a sudden, columbiacounty is out and about and assessing the real estate landscape.

Why?

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