Manhattan’s Luxury Market Has Perked up After Slow Start to Spring
Nearly half of last week’s deals were for homes in new developments. Read More
BY THE NUMBERS
| CONTENT FROM: Selene |
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Selene – Featuring 6C from the Modern Loft Collection
A rarified collection of 94 studio-to-four-bedroom homes by Pritzker-Prize winner, Norman Foster, in the heart of prime Midtown. Residence 6C is a 4,607 SF gallery quality loft featuring 2 BRs and 3.5 baths, with the potential to convert to 3 BRs. Defined by architectural concrete walls, diamond polished concrete floors, and ribbed concrete ceilings, 6C is listed at $6.750M. Immediate Occupancy.
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TRENDING TODAY
LISTING OF THE DAY
Four-House Waterfront Compound Built Like a Private Resort on Hawaii’s Big Island
The retreat offers 600 feet of oceanfront tucked behind a reef and panoramic ocean views. Read More
THE INSIDERS
Being Too ‘Vanilla’ Is the Top Home Decor Mistake, Says Philly Interior Designer
Kate Rohrer on how her hospitality projects have influenced her home creations, the biggest errors owners make when decorating and more. Read More
NEWS BITES
London Apartment Dwellers See Service Fees Soar
Londoners can’t catch a break. According to estate agency Hamptons, apartment dwellers in the capital city have seen service fees surge 9% over the past 12 months to an annual charge of £2,581 (US$3,233), higher than anywhere else in England. The fees are paid to building managers and are put toward services like maintenance and building insurance. Hamptons predicts that no region of England will see service charges below £1,000 within 10 years, should things remain on the current track. City A.M.
Chengdu, China, Ditches Restrictions in a Bid to Boost Property Market
Chengdu, the capital of Sichuan province and China’s fourth-most populous city, is looking to bolster its flagging property market with a package of restriction rollbacks and support measures. The city, which is home to 21 million people, plans to no longer review qualifications for property purchases and has committed to helping developers meet reasonable funding goals. Unlike much of the rest of China, Chengdu actually saw sales growth in 2023, with transactions increasing by 10%. But 2024 has been a different story, as sales dropped 35% month over month in January as demand lagged. South China Morning Post
Chicago-Area Home Prices Bounce Back
Things are blowing in the right direction for the Windy City and its surrounding areas. According to Crain’s, the median property price in the Chicago area was up 7% year over year in April, hitting a record high of $362,561. When reaching back to April 2021, property prices for the region were up a hearty 15% annually. Industry insiders say low inventory has fueling seller confidence in picking price points as well as buyers’ willingness to pay more, all against a backdrop of higher interest rates. The Real Deal
‘Unlivable’ Sydney Home Sells for A$13.7 Million
Though it lacks a bathroom and a kitchen, this Sydney home does have 140 years of history and a charming Victorian facade, and that may have been enough to net it A$13.7 million (US$8.9 million). The apartment, which was deemed unlivable due to its lack of basic amenities, was sold for the pricey sum—A$3.7 million above its guide price—likely because of its location on the top-floor of the historic Manar building in Potts Point. The property, which was sold to a downsizing couple who plan a major renovation, was also featured in a 2020 Dior commercial starring Natalie Portman. realestate.com.au
AROUND NEWS CORP
Nashville Is Booming. Locals Fret About Their Future in Music City. [The Wall Street Journal]
Painting the Ceiling With Color Is a Trend That Is Looking Up [The Times of London]
Soaring Insurance Costs Could Force House Prices to Fall—and Some Homeowners to Forgo Coverage [Realtor.com]
This Billionaire’s Nantucket Home Has Been Destroyed by Erosion [New York Post]
