Euro Properties Continues to Invest in New York Area
Euro Properties Continues Significant Investments in New York Area in 2014
International Developer Focuses on Prime New York Markets For Luxury Residential Development
NEW YORK, Dec. 1, 2014 /PRNewswire/
Euro Properties, an international real estate development company with 25 years of experience building luxury homes in major cities, announced the completion of four acquisitions in the New York market in 2014. The announcement was made by Que Yau Neo, CEO of Euro Properties.
“We are extremely pleased with our robust investment level in the New York area premium market this year, laying a foundation for four different developments by Euro Properties. This will allow us to introduce our skills to this market as thoughtful, high quality builders of beautiful homes that inspire a refined lifestyle,” Mr. Neo said. “We began studying the New York market for opportunities more than five years ago – after 20 years of success in other major markets around the world. We believe we have identified and secured the very sites to showcase our work and deliver luxurious, intelligent, inspiring homes.”
Euro Properties’ 2014 investments focused on development sites in the most desirable markets throughout the New York Metropolitan Area. First among them is 118 East 59th Street, which will yield a soaring tower designed by world famous architecture firm, SCDA, and will offer 29 full-floor condominium residences including two duplex units and an ultra-luxurious triplex penthouse in the evolving residential district above 57th Street on Manhattan’s Upper East Side.
“We were immediately drawn to this location – off Park Avenue, blocks from Central Park, the Upper East Side’s exclusive shopping and great restaurants, and ample transportation – and believed we could create homes that would appeal to people who want to take advantage of all the best things New York has to offer, yet also experience tranquility when they walk into their own residence,” Mr. Neo said. “This is what we will create at 118 East 59th Street, and we look forward to unveiling our plans in 2015.”
In addition to Euro Properties’ Manhattan development, the firm also acquired three residential sites in the most prestigious markets just outside New York City: Sands Point, Long Island; Greenwich, CT; and New Canaan, CT. These properties, distinctive and desirable, each afford Euro Properties the opportunity to either subdivide for new single-family home development, or to enhance the property value through restoration and expansion.
“We view each of these four investments as a way to create something special – to apply our singular process of attention to detail in building a bespoke product,” Mr. Neo said. “While they are all distinct sites with very different profiles, each development will be managed through the Euro Properties prism of customization, creativity and the promise to deliver remarkable, inspirational homes.”
Mr. Neo said that Euro Properties is continuing to pursue new investments in the US in 2015. In particular, the firm is interested in sites for single family or multifamily development in highly desirable locations inside or tied to Manhattan, or in other major gateway cities. In addition to its U.S. portfolio, Euro Properties continues to evaluate opportunities and relevant projects throughout Asia and Europe.
ABOUT EURO PROPERTIES
Euro Properties has been active in the property market for over 25 years through its suite of related companies. The firm, led by CEO Neo Que Yau, specializes in the investment, development and marketing of prime residential and mixed-use projects with a focus on exceptional design and first-class execution. A boutique real estate company, Euro Properties retains extensive global networks that enables its experienced, international team to effectively source, market and develop projects worldwide. In New York, Euro Properties is developing a luxury condominium tower at 118 East 59th Street, which will offer 29 full-floor, duplex, and triplex residences in the heart of Manhattan’s Plaza District.