Touring development site in Tribeca

New developments shun one bedrooms

The New York Times reports that new developments are now focused on larger apartments and shunning one bedrooms.  As example, the Sterling Mason (pictured) does not offer one bedrooms but rather only two bedrooms and up.

According to Miller Samuel, there is not enough demand for one bedrooms at $4000 per sqft that would make it feasible for developers.  

New York's most expensive new developments in 2013

World's Hottest Hotels 2014

Park Hyatt New York is one of the world's hottest hotels in 2014 according to CNN.

Opening: Q2 2014

The Park Hyatt's first New York hotel occupies a coveted location opposite Carnegie Hall in midtown Manhattan, with views of Central Park.

Occupying the top floors of the 90-story One57 -- the tallest residential building in the city -- the 210-room property was designed by Pritzker Prize-winning architect Christian de Portzamparc. Interiors are by Yabu Pushelberg, whose notable Manhattan designs include Bergdorf Goodman and Barneys.

Buying Apartment In New York in 2014?

2013 has been a banner year for Manhattan condos.  Price per square foot is at a record $1,400, there has been a shortage of inventory and yes, prices are way above the prior peak.

Price records were shattered, for example, when hedge fund investor Bill Ackman and a group of investors paid more than $90 million for a unit at Extell's One 57.  This shows even the top hedge fund guys know about the incredible performance of Manhattan condos.

Key trends to look out for in 2014, according to The Real Deal magazine, include interest rate increases, the new mayor Bill de Blasio, Midtown East rezoning, the new wave of condominiums coming on the market and redevelopment of the South Street Seaport.

New York - America's Favorite Cities

Photo credit: incamerastock/Alamy

Travel and Leisure ranking of New York City in the 2013 America's Favorite Cities:

The Best...
Luxury stores (#1)
Theaters/performance art (#1)
Historical sites/monuments (#1)
Ethnic foods (#1)
Sandwiches/delis (#1)

The Worst...
Affordability (#35)
Easy-going (#35)
Cleanliness (#35)

Interviewed by CNN: Top 10 U.S. Cities For Chinese Homebuyers

NEW YORK (CNNMoney)

As the Chinese economy continues to boom, Chinese are looking abroad to spend money on real estate.

Where are they buying?