A recent article in the New York Times, “In New York, a Sprinkling of Higher Prices,” discussed how certain pockets and buildings within Manhattan and Brooklyn are experienced a rebound past pre-recession prices. While this certainly isn’t occurring in the far reaches of Manhattan, if an apartment or a building has that something special – great views (like those of Central Park), prime neighborhoods, or large units that are in move-in condition – these apartments are in high demand and pricing has moved past the lows.
While the article mentions particular buildings that have fared well, we have seen the same thing with 15 CPW, Park Laurel, Superior Ink, Harrison, and Park Millennium, just to name a few. 15 CPW continues to break record pricing and was untouched by the recession. Prices actually rose here in the midst of all the turmoil. It’s neighbor, Park Laurel, is also benefiting from the success of 15 CPW and its location, as many foreign buyers looking for condos facing Central Park see an investment there as a bargain compared to its neighbor 15 CPW. For you next real estate purchase, remember to chose a property with those special characteristics that will insulate you from any downturn.
While we have been to the gorgeous Trump SoHo in New York a number of times since its launch, we were recently invited for a private showing of the Trump SoHo Penthouses.
To give you some background, the Trump Soho Hotel rises 46 stories and features 391 elegantly appointed rooms and suites, panoramic views, custom-designed furnishings by Italy’s Fendi Casa, gorgeous finishes throughout, tons of amenities (including a pool and 11,000 sq. ft. Spa with Turkish hamaan), lots of meeting spaces, restaurants, and bars. Owners have the opportunity for potential rental income and may occupy their suites for no more than 120 days per year and 29 days in any 36 day period. You can buy in the name of a corporation, so there are lots of tax benefits for an investor who wants to use the property for business or who wants to put it in the pool of rentals. After a price reduction, studios start at $1,028,000 and 1 bedrooms start at $1,528,000.
As for the Penthouses, these are located on the top floors of Trump’s 46-story SoHo hotel. These duplex two-bedroom penthouse suites command expansive city views from their floor-to-ceiling windows. The units have spacious open floor plans and a kitchenette that includes a Sub Zero wine cooler and refrigerator, that make the suites perfect for entertaining or hosting small business gatherings.
Penthouses provide a lot of living area between the bedrooms for guests’ privacy. Marble bathrooms, some with floating soaking tubs, add to the luxurious environment. These luxury penthouse suites at Trump Soho eally will impress even the most discerning traveler. Prices for the smallest penthouse (2,022 sq. ft.) start at $6.5 million.
For more info and to request current availability click here.
We recently toured The St Regis Bal Harbour, where residences are set to open this fall and the hotel/resort is slated to open in time for high-season (January 2012). The St Regis Bal Harbour is the new “it” place to be in Miami Beach, since St Regis Bal Harbour’s true 5-star service level cannot be matched and this complex will add a whole new level of service in South Florida.
While taking a private tour of the almost completed complex, we couldn’t help about thinking how we would spend the day if we had a pied-a-terre here. We would wake up in the morning and stroll the Atlantic Ocean, indulge ourselves at the Remede Spa, relax by the pool, shop the latest luxury fashion at the tony Bal Harbour Shops across the street, take a dip in the pool before getting ready for evening poolside cocktails and dinner, an in-room dinner party executed by our St. Regis Butler, or an adventure at one of South Beach’s famous clubs.
Today is a perfect time to buy at St Regis Bal Harbour, since prices were reduced in January 2011 and now the building will finally be opening its doors. Once that happens, I am sure prices will rise once people see this gorgeous development.
Prices at St Regis Bal Harbour start at $1.4 million for two bedrooms, $3.5 million for large three bedrooms, and $5 million for four bedrooms. They also have the Bespoke collection which has combination units, making for very large spaces. For more information, please email us.
For more info and to request current availability click here.
This past week the New York Times ran an interesting article about how the usually low summer season has evolved into a regular one.
It used to be that July and August in Miami were historically very slow, however, this is just not true anymore. Perhaps it is the array of new hotels (W South Beach Residences), beach clubs (like SoHo House) and retail (Lincoln Road) that attracts so many visitors. The proof is all in the numbers, with 80% hotel occupancy and 12% higher prices – both good signs that these anecdotes are true. Remember, Miami is only 3 hours away, which most New Yorkers know can be a shorter trip than to the Hamptons in the middle of summer!
While most of our customers have been searching for property in South Beach or Bal Harbour, a client recently requested that I preview two new luxury properties – One Thousand Ocean and Luxuria – both in Boca Raton. This past week I took a 45 minute drive north of South Beach to Palm Beach County. I had previewed One Thousand Ocean at its showroom when the building was still being built, so it was great to go back and see the finished product, and what a great finished product it is.
In fact, I was blown away by both buildings, but for very different reasons.
One Thousand Ocean
One Thousand Ocean has a sophisticated, but casual elegance about it, where owners can live a country-club lifestyle in a sleek ultra modern building. The horseshoe-shaped One Thousand Ocean is a private enclave at the end of a tiny peninsula that is surrounded by water on three sides, providing spectacular views from every angle. All owners receive full membership to the private Boca Raton Resort & Club, one of the worlds most prestigious and exclusive country clubs, which sits just across the Boca Inlet, and the Boca Raton Beach Club, which sits adjacent to the building and is part of the club.
The residences at One Thousand Ocean are very grand! Three bedrooms start at 3,000 sq. ft. with 650 sq. ft. of outdoor front and back terraces with private plunge pools and outdoor kitchens. Residences feature oversized rooms throughout, very top-of-the line kitchens and baths, and two fireplaces, among other things. Most of the 52 condos are flow through, so you will have double exposures, N/S, E/W, NW/SE – get the idea? There are only 12 residences remaining, along with 4 townhouse Beach Villas and a gorgeous penthouse.
This a perfect condo for the New Yorker, Bostonian, European and South American buyer who wants an exclusive country-club lifestyle without having to operate an entire house. With direct beach access, 8 pools between the building and its club neighbors, room service, in-room or club spa treatments, award winning golf courses, clay tennis courts, mega yacht marina, Club Boca’s children’s activity center, and five-star hotel and concierge services, One Thousand Ocean is about convenience, service, exclusivity, and peace and quiet, all at the same time.
Prices start at $2.6 million for a 2 bedroom in the only line that doesn’t face the ocean and $3.9 million for 3 bedrooms with direct ocean views.
A short drive south from One Thousand Ocean, you will find Luxuria on the Ocean, one of the very few new condos built directly on the ocean in Boca in a very long time. Luxuria is sophisticated in a different way than One Thousand Ocean. Luxuria is a Mediterranean Villa that has the feeling of an“estate residence.” Each of the 26 residences start at 4,500 sq. ft., with 4 bedrooms being smallest, so the apartments are very spacious and feature large terraces with outdoor kitchens.
Residences offer its residents direct ocean and inter-coastal views, seclusion and privacy that a well- heeled clientele desires. One feature that is offered by the developer is the option to select your own custom kitchen. Owners select the style (modern, traditional, etc.), color scheme and materials. By the time the unit is closed, the kitchens are built out. This is a great feature that allows an owner to put their style stamp on the property without having to manage the project of installing a new kitchen.
Like One Thousand Ocean, Luxuria owners have a full membership to the Boca Raton Resort & Club. The Club is only 2 miles away, so it is very close by.
Since the developer is down to its last 6 units and wants to move on to its next project, Aqualina II in Sunny Isles, some great discounts are being offered for this true luxury property. Reduced prices start at $3.6 million for 4,500 sq. ft. (which is a steal at $780 psf ($8,396 per sq. mt.), since recent closed prices are around $900 psf. (9,687 per sq. mt.)).
Boca Raton has a scarcity of oceanfront property due to the many national parks on the shore, so these two new projects on the Atlantic Ocean are definitely two of the best when the subject is Boca Raton Luxury Real Estate… very exclusive, since nothing new or this beautiful has been built on the ocean in Boca for many years.