It Happened One Weekend: Beaver's Big Sell & Much More

Published: September 24, 2007, 8:45 am

Tags: manhattan financial district wall st battery park city, manhattan midtown east kips bay, manhattan upper west side columbus circle, market analysis, real estate sold, urban planning

1) A penthouse at William Beaver House went to contract for just over $2,800/sqft, setting a record for the Financial District. Some dude from Madrid bought it, and Andre Balazs sums it up perfectly when he basically says that the "luxury neighborhood" model is dead because rich people from out of town (the ones spending all the money nowadays) don't give a shit about what neighborhood it is, as long as it's Manhattan. See: Australian guy at 111 CPN. [Big Deal/Josh Barbanel] 2) Uh-oh, is Mortgage Meltdown '07 finally creeping into Manhattan? The hardest hit so far: "New Yorkers with short credit histories and, interestingly, professionals who buy apartments with small down payments and nearly 100 percent financing and count on end-of-year bonuses to pay down the loans." Sorry about that, three dudes who tried to buy a 123 Baxter bachelor pad. (No, really.) ['Frustrated New Yorkers Grapple With Loan Rates'/Christine Haughney] 3) Tired of hearing about how totally awesome 15 Central

[ Full article ]

Blog link

Comments