New York Luxury Condo Market
The
New York luxury condo market is experiencing growth unseen in many of
the nations’ other luxury markets such as Miami and San Francisco.
While prices in other markets are receding, New York luxury condo prices
have continued to escalate.
The New York luxury condo market has appreciated 205% in the past decade. Contact Beacon Court Realty for more information on the New York luxury condo market.
Foreign investors from all over the world are drawn to this vibrant epicenter of finance and culture. With favorable exchange rates against the U.S. dollar, these investors have become major purchasers on multiple acquisitions. In addition to private investors there has also been tremendous activity on behalf of institutional investors. China, Ireland, Korea, Spain, United Kingdom, Singapore, Israel, Russia, Italy and the Middle East are just a few of the countries pouring dollars into the New York luxury condo market.
Top New York Luxury Condo Market Properties:
- One Beacon Court
- 50 Central Park South
- Time Warner
- The Plaza
- 15 Central Park West
- William Beaver House
- Rockefeller Plaza
- Gramercy Green
Although other American cities have been the
beneficiary of foreign investment, New York maintains its status quo
as the most desirable destination within the United States. In addition
to the anticipated long term returns on investment, many foreign clients
have come to appreciate the attractive financing and low interest rates
should they decide to finance their acquisitions.
The average New York luxury condo price was $1.2 million during the
fourth quarter of 2006, up 3% from a year ago.Over-all prices have appreciated
6% in total for the calendar year 2006, and 205% in the past decade.
With the global economic boom and unprecedented capital levels expected
to continue, putting money in the New York luxury condo market has become
the investment of choice for both foreigners and Americans.
The New York luxury condo market has appreciated 205% in
the past decade. Contact Beacon Court
Realty for more information on the New York luxury condo market.
