Elegran Edge
The Real Estate Blog

What is Elegran Edge? It’s the blog where we bring together the biggest and best stories from our neighborhood blogs and agent blogs. If it’s happening in Manhattan real estate, you can find it here.

Articles about "High-End Real Estate"

  • Estate Taxes: They Might Just Kill You... Again By Kamini Ramdeen | April 24, 2014

    One would believe that if New York State cut taxes that New Yorkers everywhere would jump for joy. One would believe... this is of course not the case as the citizens of the great metropolis of New York City have found a way to make even tax cuts an unfavorable act leading to immense displeasure. Beginning on April 1, 2014 new estate tax laws went into effect. The response to the effort to make New York State tax code a simple read has led to not just an outcry from citizens who are paying the taxes, but also from CPA’s who find the new laws to be in bad taste.

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  • East Farm Estate: A Gem On The Long Island Waterfront By Ryan Daley | August 13, 2013

    Situated on a 32.5-acre farm on the Long Island Sound, the East Farm Estate has as its centerpiece a 26,500-square-foot luxury residence. The primary home includes a greenhouse, workshops and an astronomical observatory. The 3,500-square-foot first floor terrace has been excavated to include an indoor pool and recreation spaces, which, along with all bedrooms and living spaces, are oriented toward the meadow and the harbor. 

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  • The Heights of Luxury: One-Third of 432 Park Avenue’s Units Already Sold By Aby Thomas | April 10, 2013

    Image: © dbox for CIM/ Macklowe Properties Given that 432 Park Avenue is slated to become the tallest residential tower in the western hemisphere when it is completed in 2015, we weren’t too surprised with the mind-blowing prices the developers were asking for the apartments at this luxury building.  But what is interesting to note is that despite the shocking prices, sales at this Rafael Vinoly-designed tower have been doing extremely well, with one of the building’s developers, Harry Macklowe, saying that he has already sold one-third of the 123 units being built at 432 Park Avenue.

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  • Manhattan Real Estate and Reality TV By Gabrielle Hughes | August 16, 2012

    In the world of reality television, selling lavish homes to high-end clientele also appears to be selling well with viewers. Series like Bravo’s "Million Dollar Listing" and HGTV’s "Selling New York" bring in large audiences, as they exhibit never-before-seen properties owned by some of the world's most powerful people.

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  • Despite Low Profile, New UWS Condo Sets the Pace By Daniel Muhlenberg | March 14, 2012

    Even though condo sales on Manhattan’s Upper West Side and Upper East Side have lost steam recently - downtown lofts, condos, and penthouses are far outshining them - one luxury apartment building is defying these trends with steady sales and rising prices. The Laureate, located at 2150 Broadway on the corner of West 76th Street, has been selling luxury condos and penthouses at a steady clip for some time now, and it might be due in part to the fact that its owner, Shlomi Reuveni, refuses to reveal the identity or nationality of its buyers. This anonymity and relatively out-of-the-way location (i.e. not downtown) have attracted a steady stream of affluent clientele, although our guess is as good as yours as to who they are.

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  • For Condos Converting To Rentals, the Key Word is Service By Justin Spees | March 01, 2012

    Luxury Manhattan condo building 75 Wall Street has put a halt on condo sales in the building. A spokesman from the Corcoran Sunshine Marketing Group, which handles marketing for this building would not confirm, but Crain’s New York is reporting that inside sources say this is an indication that 75 Wall will convert the unsold condos into rentals. If this conversion takes place, it will mirror decisions made by two other high-luxury condo buildings in recent months.

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  • The Upper West Side Just Got A Little Smarter By Justin Spees | December 16, 2011

    We’ve written before about the Riverside Center complex, the sprawling residential development that has plans to open in the Upper West Side by September 2015. The massive, five-building project will include, in addition to 2,500 residences, a movie theater, an auto showroom, office space, and a 1,500-space parking garage.

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  • Condo in Central Park South Doubles in Price By Daniel Muhlenberg | December 14, 2011

    The high-end of Manhattan’s real estate market continues to exceed expectations. Who would’ve guessed that a luxury condo in Central Park South that sold for $4.1 million in 2005 would now be on the market for $8.3 million? Arca Advisors bought 69A in The Park Imperial on 56th Street six years ago, and after renovating it they’ve found that it has doubled in value. If you want to know why 69A is so valuable, the reason is pretty clear: there are barely any high-end Manhattan properties available in Central Park South. The Real Deal quoted a source familiar with the transaction as saying, "The renovation is partly influencing the price, but there's also nothing left on the market. If you have an $8 million buyer who wants a view of the park, there's nothing to show them."

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  • Brazil, China, Russia: Meet the New Face of Manhattan Real Estate By Daniel Muhlenberg | November 22, 2011

    The world’s nouveau riche love Manhattan. Foreign buyers flush with newly-achieved status and the power to purchase anything their heart desires come to New York City with cash in hand, ready to pay up and move in as soon as possible. Considering that New York City has always been an international city, the symbol of the American Dream, and an alluring destination for aspiring people everywhere, this is unsurprising in and of itself. What’s surprising is that most of these foreign buyers come from countries like China, Brazil, and Russia i.e. the nouveau riche of the world economy. Buyers from these countries are keeping the high-end real estate in Manhattan market afloat, eagerly filling the void left by affluent New Yorkers who are biding their time by renting.

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  • Foreign Buyers Take NYC by Storm By Adam Rothstein | October 11, 2011

    Over the past few years, there has been widespread agreement amongst NYC real estate professionals that foreign investors comprise a large group of those purchasing Manhattan luxury apartments. However, until recently, these claims have lacked the necessary data to be validated. But that is about to change, with newly compiled market statistics proving what we in the business have known all along. Foreign investment in NYC real estate is not simply a growing trend; it is, quite succinctly, becoming a force to be reckoned with.

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