If there’s any surefire sign that the US economy is back on track and booming again, it’s in the price of real estate. The New York luxury market is undergoing a major boom now and in major recovery mode, if last year’s prices are any indication (and they are). While the US economy has taken a huge hit since the real estate bubble burst, followed by the stock market crash of 2008, the soaring prices in New York real estate in 2015 are an undeniable sign that a real recovery is taking place. The outlook for 2016 is looking even better, with prices skyrocketing even higher.
Big Deals in New York
One of the biggest real estate deals to go through in New York in 2015 was the sale of the penthouse at the One57 skyscraper in Manhattan. The property faces Central Park, and the sale price was 100.47 million. Another hot property that is expected to sell in Manhattan in 2016 is the luxury midtown condominium at 147 E. 57th Street. The price is thought to be in the nine digit realm. Yes, this is all heady news for Manhattan, which is becoming a place where billionaires go to stash their cash. And why not? Luxury real estate here is keeping its value and then some.
What’s clear now is the importance of having an expert real estate firm involved to negotiate the right deal in this heady market. TOWN real estate is the go to firm these days for those in the market for the highest quality luxury real estate properties here.
Since its launch in 2010, TOWN has made a name for itself as one of the leading firms in the luxury real estate market.