January saw moderate price growth in £5 million-and-up homes. Read More
BY THE NUMBERS
LISTING OF THE DAY
Large, open living spaces and progressive-design details define the residence. Read More
The tax may be increased for those who keep their second homes empty. Read More
Manhattan’s 432 Park Has Done $2 Billion In Sales
432 Park Avenue has officially become the highest-grossing residential building in the history of New York City. In the six years since it began selling units, the building has done $2 billion in sales. That includes some major transactions, such as three combined apartments which went for $91.1 million, and an $87.7 million deal for the penthouse. An $82.2 million penthouse is currently on the market.
Miami a Favorite For International Investors
Miami has become a top pick for international buyers looking for properties in the U.S. A report indicates that the Florida city is a favorite with investors from South American countries like Brazil, Colombia and Argentina, as well as those from Great Britain and the Philippines. The report, which said that New York and Los Angeles were other top cities, said that North Bay Road, Fisher Island, Bay Point, Coconut Grove and Edgewater are particularly popular areas.
Prices Up 11% in Las Vegas
Home prices in Las Vegas are up 11% from a year ago, according to the Greater Las Vegas Association of Realtors. The January 2018 median price for single-family homes was $265,000, which was down 1.1% from December but up considerably from 2017. The prices of condos and townhomes grew 32.1% to $149,888. It’s expected that a limited supply—the number of single-family homes for sale at the end of January was down 36.5%, the number of condos and townhomes down 21.8%—will cause prices to continue to grow throughout the year.
Palm Beach Condo Building Sees Record Sale
Philanthropist Sydell Miller has bought the entire 24th floor of The Bristol, Palm Beach County, Florida’s most expensive condominium, according to the building’s developer. There are only seven units left in the now-under-construction 69-unit building. Real estate sources say the sales price is about $40 million. The floor previously was marketed as two units, one with 6,136 square feet and the other with 8,377 square feet, sources said.
AROUND NEWS CORP
Why Even ‘Ordinary’ Homes Sell for $500,000 Over the List Price [The Wall Street Journal]
Don’t Make the Mistakes This Couple Made Buying a Home [MarketWatch]
Manhattan Loft Used by 50 Cent, James Franco Hits Market [New York Post]
Will Bitcoin Revolutionize How Real Estate Is Bought and Sold? [realtor.com]