New Property Projects in Manhattan 2015

111 Murray in Tribeca

111 Murray is Tribeca's new super tower, expected completion 2018.  Designed by Kohn Pedersen Fox, 111 Murray rises to 800 feet and 64 stories, culminating with a distinctive crown at the top.  It is located one block from the World Trade Center and across from Goldman Sachs.

One bedrooms start at $2 million and 2 bedrooms between $4.5m to $5m.

Website:  111 Murray

Manhattan Q3 2015 Property Market Update

Overall Q3 Market

Limited inventory not meeting demand is putting upward pressure on prices.  

Number of sales, from pent-up demand since the financial crisis, increased 9.8% compared to a year ago.  A robust local economy, weaker US dollar and global economic uncertainty all played a role in shaping the Q3 market.

Billionaire's Row Super Luxury Residential Towers

The construction of ultra luxury property along Manhattan's Billionaire's Row, as discussed with CNBC's Brian Sullivan on Talking Numbers, is happening now.  

The super high end buildings include 432 Park Avenue, Nordstrom Tower, 220 Central Park South and 111 West 57 Street.  The skyscape of 57th Street will be quite different a year from today.  

Media Interview: Yuan Devaluation Could Weigh On Chinese Buyers Of U.S. Homes

By Alex Veiga, Associated Press Business Writer
Friday, Sept 18, 2015, 10:35AM EST

Shanshan Wu already owns three houses back home in China. But the 36-year-old has spent the last two months in Chicago shopping for a three-bedroom. She's got cash to spend - up to $400,000.

And she's not done.

"The real estate market in China is dropping and I'm planning to sell one of them to maybe buy more houses in the U.S.," said Wu, whose hometown of Yunfu is in the province of Guangdong in southeast China.

New Property Projects in New York

520  Park Avenue

520 Park Avenue, 54-storey limetone tower designed by star architect Robert A.M. Stern, aims to be the next 15 Central Park West.  It will have 23 full-floor residences of 4,600 square feet each ranging from $16 million to $37 million.  In addition, 7 duplexes and one triplex, ranging from $70 million to $100 million.

Amenities include a garden, pool and white glove service.  But unfortunately, entrance is on 60th Street (not Park Avenue).

Website:  520 Park Avenue 

Why Buy Manhattan Property As Investment

Successful entrepreneurs and professionals from around the world have been investing in Manhattan apartments for a long time.  

We are very familiar with the reasons clients invest in Manhattan, New York because this segment is our focus.  The basic drivers are as follows:


Capital Preservation
New York property is regarded as a safe investment against inflation, economic uncertainty, political instability and even theft in their home country.  High net worth investors work very hard to accumulate wealth and they work hard at preserving it as well.  

Tips On Buying International Real Estate

BY DEBBIE CARLSON

JULY 31, 2015

A strong U.S. dollar isn’t just making vacations overseasmore affordable; a brawny buck puts foreign real estate on sale, too.

Jason Kumpf, real estate expert at USForex, says their clients are “absolutely” using dollar strength to justify buying international real estate, particularly in continental Europe and the U.K. Even Canada is attracting more Americans now that the loonie is at about a 20% discount to its U.S. counterpart, says Kumpf.

Wei Min Tan, a residential condominium specialist at Rutenberg Realty’s Castle Avenue, says select buyers will always want to invest in a top-tier city like London, but a wave of buyers is also favoring countries with lower costs of living, including Malaysia, Thailand, and Costa Rica.

“They may see it as a place to retire in the future. Here [retirement] can cost so much, there it’s a fraction,” Tan says.