New York Luxury Real Estate Skyrockets

At a certain point, after the real estate bubble began to burst in 2006/2007 and then the US economy hit a major meltdown in 2008, it looked as though real estate sales would never recovery. Today, however, years after the Great Recession took hold of the economy, the US real estate market is showing signs of a real recovery. This is especially true now in the luxury sector in New York and in the surrounding boroughs, especially Brooklyn.

The big news of 2015 is the major sales that took place in Manhattan. Sales in the luxury market in Manhattan, as well as in the increasingly luxurious Brooklyn, were stratospheric. One of the biggest sales recorded in 2015 was the deal that went down for the penthouse of the One57 skyscraper in NYC apartments for rent. This property faces Central Park and it sold for an eye-popping $100.47 million. This very attractive building is catching the eye of billionaires worldwide who want a place to park their cash. There are more major luxury sales coming up in 2016, too, with a sale said to be coming through for the luxury condominium at 147 E. 57th Street. This property is expected to go for a price in the nine digit range. Yes, luxury real estate is bouncing back in New York, to be sure.

Having the Right Representation

What all this great news in the market means is that those looking for a solid investment in this market need to have the right representation. The TOWN luxury real estate firm is one of the companies being talked about as the market heats up. Since its launch in 2010, TOWN has become one of the leading luxury real estate firms in New York. The experts at TOWN know this market cold, and they know how to supply the kind of refined client services that are needed to broker deals.

Is it time to enter the New York luxury real estate market? Call the experts at TOWN today.

Comments are closed.