Celebrities Fuel New York’s Real Estate Boom

While stockbrokers issue warnings about the possibility of a new recession for 2016, at least for now the real estate scene in New York City is booming thanks to the deep pockets of some of the most famous people in the world, according to the New York Times.

The late Joan Rivers recently saw her 11-room triplex on east 62nd street being purchased for a whopping $28 million. Paul McCartney and his wife bought a place on Fifth Avenue for over $15 million. Legendary rocker Jon Bon Jovi sold his Broadway penthouse for an astonishing $34 million.

Moguls and billionaires have been scooping up property in the city for the cost of a small fortune. The big sales this year ended up shattering every monetary record in the history of New York real estate. Some called it the year of the big sale.

Hedge Fund kingpin Kenneth C. Griffin bought a triplex in Central Park for approximately $200 million. That is the largest sale of a single residence not just in New York, but in all of America. The previous most expensive residence was at Central Park West, a full-floor penthouse owned by a Russian billionaire costing a total of $88 million.

This anonymous individual paid an astounding $100 million for the place, which includes a grand salon and a reception gallery.

Big sales like this will continue for at least a few more years, because there are deals already signed that will be closing in the next 36 months at developments near completion, like Greenwich Lane in Greenwich Village.

No discussion of real estate would be complete without mentioning Donald J. Trump. The man who is going to make America great again sold two penthouses at Trump Park Avenue for a total of over $21 million to the found of the Fresh Market supermarket chain.

TOWN owns nine offices spread all throughout the city and at the heart each is a comfortable meeting place to network and collaborate.

TOWN Residential was recently voted as a Best Firm to Work For and was listed as one of the Top 50 Best Places to Work in New York City.

  1. Dakota Gage left a comment on May 8, 2017 at 1:30 pm

    Perhaps one of the biggest contributors to this real estate boom has been TOWN Residential, who have established themselves as one of the top NYC real estate services. Those numbers are just drops in a bucket. There are some standard terms that executive resumes has been able to resolve for a very long time and make it possible for others to understand closely.

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