CityRealty Insider > NYC Real Estate Roundup

NYC Real Estate Roundup

APRIL 11, 2012

Higher Floors, Higher Prices NYC condo sale at Central Park Place
Take a look at one appraiser's view of which floors command top dollar (and why) in a typical high-rise NYC condo building. Recent condo sales at Central Park Place at 301 West 57th Street (shown) were studied (NYMag).

More Reasons to Favor FiDi
The latest addition to the rising residential popularity of New York's Financial District (FiDi): The city landmark Temple Hotel, an attractive 9-story red-brick building at 5 Beekman Street, was purchased for $64 million and will become a 297-room boutique hotel with 90 residences (TheRealDeal).

First-time Buyers and Bidding Wars
2012 market reports indicate that Manhattan sales of studios and one-bedrooms are heating up, possibly as a way for first-time buyers to circumvent an increasingly pricey rental market. Bidding wars in which apartments sell for more than the list price are also on the upswing (CurbedNY).

Big Tickets, Foreign...Sellers
Though moneyed Russian buyers are still snapping up NYC apartments, one Russian former model and daughter of a Russian billionaire is selling her Time Warner Center condo for $50 million. The spare-no-expense pad, purchased in 2004 for (merely) $9.86 milllion, could be the second most expensive apartment per square foot in the city, after the $88 million sale at 15 Central Park West to another Russian magnate (WSJ).

ALSO IN NEW YORK CITY INSIDER

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