A British banker put down a cool $5 million as a deposit for the entire 76th floor of AOL Time Warner’s new Manhattan skyscraper. He is apparently a REIT executive, but this hasn’t been confirmed since he is intending to keep the transaction private.
What we do know is that he will fork out a whopping US$ 45 million for this prestigious apartment floor, which includes floor to ceiling glass windows, plus another $15 million for the decorating work.
This puts New York back on the market and local Realtors hope it will enliven the luxury property market after news gets around.
The swanky $1.8 billion AOL Time Warner building on Columbus Circle is nearing completion and incorporates a 252,000 SQ. M vertical village in he middle of Manhattan. It is also the city’s largest commercial development since the WTC when it opened in the 1970s with twin 80-storey towers.
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Yesterday we were part of history being made. Martin Luther King’s dream has finally become reality as the people of the United States elected senator Barrack Obama into the presidential seat.
All around the world, newspapers, blog posts and radio shows were talking about a new dawn, a renewed sense of belonging and humanity all thanks to this charismatic leader called Obama.
But it is early days yet and there is no doubt that Obama will have his plate full to the brim with concerns about the economy, the global credit crunch and the war against terrorism. The question is, how will Obama’s election affect the US property market?
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As reports of the US glooming economy keep appearing, many US residents fight for their financial survival. According to latest new sources, there is now a huge surplus of unsold housing which is unlikely to shrivel fast.
In August, median house prices in the US fell to 6 percent, or $221,900. This is the lowest since the past eight years when the country was on a high with a huge property boom, especially along the coastal regions. What many couldn’t afford back then might well become affordable soon as property prices keep declining.
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Apogee can be described as a building that epitomizes luxury and one of South Florida’s most prestigious developments . It’s $22 million penthouse is up for sale at the moment and is nothing but jaw dropping.
This six bedroom, 7.5 bath, three-level penthouse apartment has a massive internal space of 6,853 SQ. FT and over 11,000 SQ. FT of terrace space with unbelievable ocean, bay, and city views.
There is a 360-degree rooftop palazzo, private pool, and summer kitchen. The main living area’s floor to ceiling height of 22-feet is enclosed by double-height floor-to-ceiling windows.
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New York City’s real estate is looking a bit shaky right now - especially Manhattan - since the second quarter figures were released. While Manhattan held its head high amidst the country wide housing disaster for the past three years, latest statistics have shown cracks appearing. So much so, that the 38% dump in sales was hard to overlook.
The Corcoran Group, New York’s biggest residential real estate group stated that this low is the biggest in five years. This is especially concerning since this low came right in the middle of the usual hottest property season.
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X/O Condominiums is a two tower, super high-rise, with one tower 40 stories and the other 35. In total, X/O boats 487-units beautifully designed by architect Lucien Lagrange.
Scheduled to be completed in 2009, X/O was named, “Best New High Rise” this Spring by New Homes magazine. The award was based on price, amenities (state-of-the-art fitness center, pool and spa w/ outdoor misting park, movie screening room, and more!) and naturally, the design.
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According to a recent press release by the Canadian Real Estate Association (CREA), the number of new listings of homes for sale in Canada have reached an all time high of 80,147 units in the month of July, up 1.4 per cent from June. Whilst the provinces of Ontario, Quebec and Manitoba recorded the most growth activity, new listing levels in Alberta fell from the all time high earlier in March.
It appears the increase in the stock levels of Canadian property is attributed to home owners’ rushing to take advantage of Canada’s currently high house prices by putting their homes on the market in the hope for a quick profit.
Although this is not a property glut situation, more units in the Canadian housing market indicates more choice and options for prospective buyers, making it more of a a buyers’ market at the moment.
Buyer should be cautious that the national statistics do not not hold true in all provinces. In Alberta for instance, where house prices have slightly fallen, new listings have been on a decline from April to July 2008.
Read the CREA press release for more information on a province/city level to guide your investment decision.
Delivering high class urban living in Las Vegas, Manhattan Condominiums is a gated community development minutes from the famous Las Vegas strip. Featuring over 700 elegant condominiums in nine four story buildings, Manhattan Condominiums is newly built and already has some tenants in place, making it the perfect investment property.
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Florida has always been a popular playground for city escapees who want to enjoy the sun, surf and of course the popular Mojito cocktail, while they watch the sun set over the ocean. Living in Florida is about the lifestyle and having fun.
Despite the great attraction, Florida seems to suffer too from the global property melt down. Foreign investors aren’t as active as they used to be only a couple of years ago. According to a recent study by the National Association of Realtors, some 25% of foreign buyers were investing in Florida. On first inspection, this figure doesn’t seem too bad. But when we take into account that the overall number of sold properties has gone down, it becomes clear that the market in Florida has slowed down.
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Real estate magnate, Donald Trump is seeking billion dollar investments from the booming economic regions of the Arabian Gulf. Rodrigo Nino, president of Prodigy International, advisers to The Trump Organization said to the press on June 29th. “I expect to see at least $2bn of investment from the Middle East in the next 12 to 24 months.
We’re particularly targeting Middle East investors for our $2.5bn inventory in Manhattan and $1.5bn inventory in Panama,” Nino told Zawya Dow Jones at the Dubai sales launch of the Trump Soho Hotel Condominium in New York.
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Wednesday, November 19th, 2008 
Posted by OP-Mall in 
What we do know is that he will fork out a whopping US$ 45 million for this prestigious apartment floor, which includes floor to ceiling glass windows, plus another $15 million for the decorating work.
