During the past decade, branded residential developments have grown 230% to 580 projects. In the next 5 years, this global real estate sector is expected to exceed 900 projects. Currently in 2021, The Ritz-Carlton, Four Seasons and Yoo Inspired by Starck have the most share of the branded residential market and Dubai, Miami and New York are the most active cities. [Mansion Global]
“In Manhattan, penthouse contracts signed from Jan. 1 to May 31 of this year were the most on record since 2007,” the inception of the research data, reports Mansion Global . “A total of 222 penthouses went into contract in the first five months of the year, a 35% increase from the same period in 2019…
One of the highest-priced penthouse contracts so far this year is Penthouse 88A at 15 Hudson Yards on Manhattan’s far West Side, which went into contract asking $29.5 million earlier this month.
Other notable penthouse transactions include a pair at the Four Seasons Private Residences at 30 Park Place in Tribeca, one went into contract in April and closed on May 26 for $18.5 million, and the other found a buyer with an asking price of $25 million on April 28.
Also, a pair of penthouses at Lantern House in Chelsea, designed by Thomas Heatherwick, priced at $18.947 million and $16.975 million, went into contract in February and June, respectively.
Currently, the most expensive penthouse available for sale in Manhattan is the pinnacle penthouse at The Woolworth Tower Residences, listed for $79 million in March.”
Penthouse 88A at 15 Hudson Yards is in contract. The residence was last asking $29.5 million. Penthouse sales are surging across New York City. PH 39 at 520 W. 28th St, located on The High Line and designed by Zaha Hadid, is also in contract. The residence was last asking $13.95 million. At Lantern House, 515 W. 18th St., PH 2203 is in contract, last asking $18.97 million. At 30 Park Place, PH 78B is in contract, last asking $25 million, and PH 82 has sold for $25 million. [NY Post]