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One Thousand Museum, first-and-only residential tower designed by the late Zaha Hadid in the Western Hemisphere, makes its debut in Miami's Museum Park this week. The residential tower stands prominently alongside neighboring condo towers and other notable Miami structures like the... View full entry
Manhattan is glutted with even more luxury condos than most apartment-shoppers realize. [...]
The secret supply is a heavy weight on a market in which sales, especially of higher-end properties, have slowed to a crawl. It would take take 74 months -- more than 6 years -- to clear all of Manhattan’s unsold units at the pace of contracts in 2019, the report shows.
— Bloomberg
Bloomberg on how a vast "shadow inventory" of nearly 6,000 recently completed units puts added stress on Manhattan's slowing real estate market, especially in the higher-end segment. Related: Condo-boom hangover: More than a quarter of NYC's new units remain unsold View full entry
A few weeks after Renzo Piano completed the high-end 565 Broome SoHo, more photos of the Italian architect's first residential project in New York City have been revealed. The luxury condominium building was developed by real estate firms Bizzi & Partners Development, Aronov Development, and... View full entry
Among the more than 16,200 condo units across 682 new buildings completed in New York City since 2013, one in four remain unsold, or roughly 4,100 apartments — most of them in luxury buildings, according to a new analysis by the listing website StreetEasy. [...]
Already the prices at several new towers have been reduced, either directly or through concessions like waived common charges and transfer taxes, and some may soon be forced to cut deeper.
— The New York Times
Despite record-breaking residential construction in New York City, sales of apartments have slowed steadily in recent years. NYT real estate reporter Stefanos Chen has analyzed the latest numbers of unsold units, especially in the higher price ranges, following a glut of inventory in newly... View full entry
The Central Park Tower, Adrain Smith + Gordon Gill's 1,550-foot supertall tower in New York City, has topped out. The 131-floor, 179-unit complex, created for developer Extell, now reigns as the tallest residential building in the world, New York Yimby reports. Wrapped in rippled... View full entry
One Thousand Museum Residences, the Zaha Hadid-designed skyscraper in downtown Miami, received its temporary certificate of occupancy and will begin closings as early as next week [...]
Developers Louis Birdman, Gilberto Bomeny, Gregg Covin and Kevin Venger, along with the late Zaha Hadid, broke ground on the 62-story, 84-unit luxury condo tower at 1000 Biscayne Boulevard in December 2014.
— The Real Deal
The 216 m/709 ft tower with its recognizable external structure in Miami's Museum Park was the first and final residential project in the United States designed by the late Zaha Hadid. Vertical construction began in 2015. Interior shot of a finished residence. Photo: Robin Hill, courtesy One... View full entry
Manhattan’s latest crop of new luxury developments continues to attract a steady stream of buyers.
At the ultra-pricey 220 Central Park South in Midtown, the grand limestone skyscraper designed by Robert A.M. Stern Architects, four more units officially sold, including New York City’s most expensive closing in May: a three-bedroom aerie for nearly $26.5 million.
— The New York Times
The NYT's Vivian Marino provides an update on the biggest recent luxury real estate transactions in New York City with notably pricey purchases at Robert A.M. Stern's 220 Central Park South and 250 West 81st Street towers and also at the newly opened Hudson Yards mammoth development. "Philip... View full entry
The high-end condo building at 520 W. 28th St. along the High Line that the company completed roughly two years ago appears so far to be a rare bust.
According to property records, only 16 of the building's 39 units have sold, a roughly 40% sell through that shrinks to an even smaller percentage when measured by square footage. That's because the building's largest and most expensive apartments, including its three penthouse units, all remain unsold.
— Crain's New York Business
How 'bout this one? Nothing? Photo: Hufton+Crow. View full entry
New details and renderings have been released for 35 Hudson Yards, set to be the tallest residential tower in the Hudson Yards neighborhood at over 1,000 feet. The boutique apartments come with a wide array of in-house lifestyle services, some provided by the Equinox Hotel, which is part of the development. David Childs and Skidmore Owings & Merrill are the architects, while interior design is being led by Tony Ingrao. — New York YIMBY
To make 35 Hudson Yards your new home address, be prepared to open the checkbook extra wide — two-bedroom condos start at $5 million, while the average unit of the overall 134 apartments will set you back $11 million ($4,100 per square foot). The three penthouses have yet to be priced, reports... View full entry
Any visitor to New York over the past few years will have witnessed this curious new breed of pencil-thin tower. Poking up above the Manhattan skyline like etiolated beanpoles, they seem to defy the laws of both gravity and commercial sense. They stand like naked elevator shafts awaiting their floors, raw extrusions of capital piled up until it hits the clouds. — The Guardian
In his latest long-form piece, The Guardian architecture critic Oliver Wainwright shows how the advent of the new 'pencil tower' building type is rapidly transforming New York City's skyline, digs in the history of zoning laws, and explains how "air rights" allow (an abundance of) cash to buy a... View full entry
Hedge funder Ken Griffin has closed on a massive penthouse at 220 Central Park South, paying a record-shattering $238 million, according to sources familiar with the deal.
The Citadel founder has long been rumored as the buyer of the condominium’s most lavish spread — a 23,000-square-foot quadplex encompassing the 50th through 53rd floors of the limestone tower, developed by Vornado Realty Trust and designed by Robert A.M. Stern. The asking price was $250 million.
— The Real Deal
After Ken Griffin dropped a sweet quarter billion on his new NYC digs, he didn't appear entirely penniless and recently secured a few other neat places to crash when traveling to London, Chicago, or Miami. "Earlier this week, he reportedly scooped up a house in London for around $122 million,"... View full entry
The Manhattan skyline is one of the world’s most iconic, but it wouldn’t be complete without the city’s famed residential supertalls. Luxury buildings like 432 Park Ave and One57 have set a high bar in the era of tower living, but the past decade has seen the vertical lifestyle catching on across the globe—from Boston to Monaco to New Orleans. — quartzy.qz.com
Check out these luxury residential skyscrapers outside of NYC: Boston, MA Designed by Kohn Pedersen Fox, Echelon Seaport is Boston's latest project located in the Seaport District. This new luxury condo and apartment development is currently under construction with a completion date of 2020. ... View full entry
After breaking ground on its first-ever real estate project last fall (the aptly named Aston Martin Residences in downtown Miami), British automaker Aston Martin has unveiled never-before-seen renderings of the building’s amenity spaces. — Robb Report
Aston Martin's first venture into branded luxury real estate broke ground in Downtown Miami last fall and is expected to welcome its deep-pocketed residents in 2021. Until then, check out these new renderings of some of the amenities at the Aston Martin Residences tower. Aston Martin... View full entry
Named after the 18th century Italian painter whose most famous works depict lavish celebrations on the canals of his native Venice, Canaletto—the 31-story tower designed by Amsterdam's UNStudio—offers luxury, waterside living next to City Road canal basin in central London. ©... View full entry
The condo venture is just one of the ways in which [Aston Martin] is diversifying into a general luxury brand, rather than just a car company...The 391 condos will sell for between $600,000 and $50 million, and include seven penthouses and a duplex penthouse with private pools. There will also be a spa, cinemas, and a virtual golf room, as well as direct access to a yacht marina. You get the picture. — Quartz
From $4 million submarines to $4,000 baby strollers, luxury automaker Aston Martin is expanding their brand. Their latest venture is the Aston Martin Residences, a sail-shaped, 66-story apartment tower that broke ground in downtown Miami last week. Completion of the tower is currently slated for... View full entry