What you need to know to buy real estate in New York?
New York embraces the most important landmarks in the world’s money, business and the arts, but it also contains some of the most expensive real estate, the most famous one.
Considered New York’s second most important city after London for investors very rich, any of the superiority of their wealth thirty million dollars, according to the classification of Knight Frank in 2015, but nevertheless the same gains did not register in the luxury of its properties, which rose about 50% since 2006, compared with the higher prices their counterparts in London by 100% during the same period.
These figures make New York an opportunity for foreign investors, including the euro Brobbeian Company that develops Project 118 East 59 midtown Manhattan.
He said my intention Feng, vice president of operations at EUR Brobbeian, “a real estate developer believe that New York is still very attractive compared to other global cities, many of the capital came here to preserve the value of the retreat, which includes many currencies including, of course, China.”
For his part, Stephen Kleguerman, president of Brown Harris Stevens, said the marketing of new real estate: “Hong Kong, London, where pay ten thousand or twelve thousand dollars per square foot has become commonplace in the luxury real estate. While here in New York is still the square foot rate in real estate very luxurious ranging from five to seven thousand dollars. Note that we have also seen ten thousand dollars a square foot threshold in one of the deals, which is why we are convinced that there is still an opportunity to increase prices. ”
Stephen explained that the luxury real estate in New York is concentrated in the island of Manhattan and the most expensive in the Billionaire’s row area, this rectangle that extends between fifty to sixty streets west of Central Park to .LexigntonAvenue. This area has been recorded in addition to the upper West side the biggest rises in prices that exceeded 10% annually in the last three years compared with the stability in real estate prices in the Upper East Side, for example. The price of an apartment of one room like this in the billionaire’s row starts with $ 4 million, two $ 5 million, so how can compare with other luxury real estate prices in Manhattan? That’s what Antapah in another report to be released tomorrow.