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 "Manhattan Luxury Condos"

  • One57 Penthouse Now Going for $110 Million By Justin Spees | January 05, 2012

    When we wrote that Russian billionaire Dmitriy Rybolovlev had bought a penthouse in 15 Central Park West at the $88 million asking price, we tried to make it sound like a big deal. We wrote that it was one of the largest purchases in the history of Manhattan real estate. But it turns out that other developers heard about the sale and thought “eh, that’s not so much.” So now we have the pleasure of reporting that one of the penthouses in the enormous ultra-luxury One57 building at 157 West 57th Street in Midtown West, is now going for $110 million, or $10,700 per square foot.

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  • 15 Central Park West Apartment Sets Records at $88 Million By Frances Gonzalez | December 21, 2011

    The apartments at 15 Central Park West are famed for their prized spaciousness and their history of housing some of Manhattan's wealthiest residents. A new construction condo building designed to recall pre-war flapper luxury, 15 CPW's apartments are renowned for their close proximity to Central Park, classical style, and amenities that range from a 75-foot-long private swimming pool and screening room to a stocked library and elegant motor court with copper-roofed pavilion. Those who choose to buy condos at 15 CPW typically top the lists of both Manhattan's more elite homeowners and also the more private; while the post-war condo rarely houses showboating celebrities, the net worth of the residents of 15 Central Park West is rumored to top $50 billion. And now the famous NYC apartment building has secured a deal for the record books. Ekaterina Rybolovleva, the 22-year-old daughter of Russian billionaire Dmitriy Rybolovlev, has signed on to buy a condominium at 15 Central Park West for a staggering $88 million.

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  • Learning Something from Williamsburg? By Phil Ryan | October 13, 2011

    Luxury Manhattan real estate seems to fall into two camps: historic and contemporary. The former, encompassing highly sough-after brownstones, lofts, and other centuries-old architecture, experiences some of the lowest vacancy rates and highest property values in the city. Preserved and cherished, historic real estate’s value to the New York City market cannot be underestimated. Yet contemporary rentals and condominiums seem to fluctuate, perhaps counterintuitively. All the amenities in the world don’t seem to help the skyscrapers over in Midtown West and Clinton, many of which suffer from above-average vacancy rates. So what is causing this paradox? The answer might come from somewhere rather unpredictable: the Brooklyn neighborhood of Williamsburg.

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  • Former St. Vincent Building Converted Into Luxury Condominiums By Kimberly Milner | September 29, 2011

    When millions of dollars of debt convinced the board of St. Vincent Catholic Medical Center to close its flagship hospital in Greenwich Village back in 2010, land development proposals for one part of the St. Vincent campus has finally come to fruition as modern luxury condominiums.

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  • New York City Real Estate: Now Immune from Downgrades By Phil Ryan | September 26, 2011

    When S&P downgraded the United States government from the coveted AAA to AA+, most thought that it would seriously affect the way we live, changing how we handle and in many ways value money. From the price of everyday commodities to even the most luxurious of purchases, the consensus was that each and every purchase made by most Americans would be the product of research in terms of cost-effectiveness and usefulness. There is one exception, however: Manhattan real estate, particularly in the luxury department.

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  • Mine + Yours: Combining Two Apartments Into One By Adam Rothstein | September 12, 2011

    Here’s an idea: why not combine your luxury apartment with your next door neighbor’s, and make a tidy profit on both? This sentiment applies to a new trend, in which luxury apartment owners are opting to combine their apartments with those next door, literally breaking down the barriers that separate their homes, in order to create one “super” apartment. The reason? Bigger apartments translate into higher asking prices. This is especially true within NYC luxury condominiums and co-ops, because the general rule of thumb states that, unlike other places in the U.S., larger spaces command more money per square foot.

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  • Deadline Approaches for Penn Station's Expansion By Christine Mulé | August 11, 2011

    For nearly two decades, plans to expand New York City’s Penn Station have been in the works, but have failed to actually materialize into a real-life expansion. Since 1993, Amtrak has had plans of expanding Pennsylvania Station into the Farley Post Office, but several roadblocks have stood in the way over the years: There were problems finding funding for the project, then Madison Square Garden decided to renovate their current building rather than relocate to the back of the Farley building. Over time, there have been some ups as well; recently, $83 million of federal stimulus money was awarded to the state to begin working on the infrastructure at the Farley Post Office.

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  • Lower Manhattan Back on Track After 9/11 Attacks By Christine Mulé | August 10, 2011

    With the 10 year anniversary of the 9/11 attacks approaching, there’s a lot to be thinking about around New York City, especially in the area surrounding the site of the World Trade Center buildings. A lot changed at an extremely fast rate 10 years ago in downtown Manhattan; residents had to move away from a neighborhood they had been comfortably living in for years and the area, as most of you know, was destroyed. Many New Yorkers didn’t feel safe living in their buildings anymore, so they moved away to other neighborhoods, but now—10 years later—things in downtown Manhattan are starting to look up once again. Although the terrorist attacks will never be forgotten and are still fresh in our minds, the fact that downtown Manhattan has revived itself is a really big deal.

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  • Clearing the Smoke: Some Residential Buildings Enforce Smoking Ban By Eliza Dillard | August 10, 2011

    Despite the fact that many moons ago our nation’s financial growth widely depended on the tobacco plant, America is quickly becoming the land of the smoke-free. Cities and entire states are quickly following the trend of banning smoking in public places such as restaurants, bars, parks and beaches. Manhattan itself has virtually become a no-smoking zone, and now smokers might face another challenge as smoking in their homes becomes a question.

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  • Glass Condos vs Pre-War Conversion Projects By Christine Mulé | August 10, 2011

    A lot has changed from the early 20th century to the early 21st century. Even Manhattan’s real estate world has taken a turn that was probably never dreamed of back in the 1920s and 30s: a change in the type of building that building owners, developers, and designers seem to want to build and fill with residents around Manhattan. Nowadays, the preferred modern luxury condominium takes shape in the tall glass tower, but back in the early 1900s, classic brick architecture was the preferred and frankly only type of building that popped up on Manhattan sidewalks.

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