NEW YORK CITY-Residential brokers are saying that demand for luxury condominium projects in New York City has been picking up over the past 18 months.
Units adjacent to Central Park at such projects as One57 and 432 Park Ave. are selling at well above $5,000 a square foot. Meanwhile, at 150 Charles St. buyers have plucked up all 91 units at the West Village project after less than a six-month sales campaign. Prices at the property are fetching more than $3,000 a square foot, according to the Wall Street Journal.
Real-estate professionals say a rising tide of foreign investors and a growing number of wealthy people see apartments in Manhattan as a safe investment. See story in the Wall Street Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
