| You are receiving this message because you have visited our site and requested to be contacted. If you no longer wish to be contacted, please use the removal link:Â REMOVE. | | | | | | | | | | | | Luxurious Manhattan Residences Now Available at Unmatched Discounts | | | | Exceptional Opportunities in The Charles Two full-floor units at the prestigious The Charles on First Avenue in Manhattan have hit the market, each at remarkable price reductions. Bluerock Real Estate and Victor Homes have recently relaunched sales, showcasing new model homes for the eighth and 20th floors of this opulent Upper East Side tower. Additional available units are positioned on the 19th, 23rd, 24th, and 25th floors, with these slated for availability later in the year.
Exclusive Full-Floor Residences The Charles boasts a total of 27 full-floor residences within its 31-story structure, each characterized by spacious layouts and lavish designs. The recent adjustments in pricing aim to align with current market dynamics, offering discerning buyers a unique chance to invest in luxury living.
Market Insights on Luxury Condominiums In Manhattan, luxury condominiums featuring four or more bedrooms tend to linger on the market longer than their smaller counterparts. Recent market analysis indicates that one-bedroom apartments typically change hands within an average of 4.3 months, whereas units with four bedrooms or more take approximately 12.5 months to sell.
Significant Price Reductions Sizes for units at The Charles range from 3,137 to 3,458 square feet. The original asking price for the eighth-floor unit was $7.84 million, now reduced to $6.99 million, while the 20th-floor residence has seen a decrease from $8.87 million to $8.15 million. Notably, the median sales price for new condominiums in New York City priced at $3 million and above reached $5.75 million in the first quarter.
Luxurious Amenities Await Completed in April, The Charles features exquisite interior finishes by the renowned designer David Collins, marking his final project in New York. The residences offer lavish amenities including private elevator landings, oversized eat-in kitchens equipped with high-end appliances, private storage options, and pre-wired home automation systems. | | | | Significant Price Reductions in Key US Cities | | | | Affordability Increases in Major Urban Areas Home prices have recently dropped in several US cities, making homeownership more attainable. New data from Realtor.com highlights that Kansas City, San Diego, and Miami have experienced the most substantial year-over-year declines in residential real estate prices.
Miami Leads with the Largest Drop According to the latest August housing report, Miami witnessed the most significant decrease in home prices nationwide, with a remarkable year-over-year decline of 11.7%, bringing the median listing price down to $530,000. This marks the largest reduction in the country.
San Diego and Kansas City Follow Suit San Diego ranked second with a price reduction of 9.1%, resulting in a new median listing price of $999,000. Kansas City closely follows, recording an 8.5% drop, with a median price of $398,050.
National Trends Reflect Local Changes Across the United States, the median price for homes available for sale decreased by 1.3% last month, settling at $429,990. This trend aligns with significant inventory growth and a slowdown in the housing market. August marked the slowest month in five years, with homes averaging 53 days on the market.
Inventory Growth in Hot Markets San Diego experienced the second-largest inventory increase in the country, with an impressive rise of 80.4%. Only Tampa surpassed this with a 90.1% increase. Miami ranked fourth in new housing development, showing a 72.2% increase in its year-over-year active listing count, while Kansas City, despite its notable price decline, did not appear in the top ten for inventory growth.
Positive Outlook for Homebuyers These developments present favorable conditions for prospective homebuyers. The seasonal market slowdown indicates that autumn may be one of the most advantageous times to purchase a home, as competition is likely to be lower compared to the anticipated busy spring of 2025. | | | | | | | | | | Luxe Condo Beneath Trump Tower Hits Market | | | | Prime NYC Living Opportunity A luxurious condominium located directly beneath the penthouse triplex at Trump Tower has officially entered the market for the first time in nearly three decades, offering prospective buyers a unique chance to reside in one of New York City’s most prestigious addresses. This upscale unit at 721 Fifth Avenue is listed for $8.99 million.
Spacious and Stylish Unit 64GH, situated two floors below the expansive three-story penthouse, encompasses 3,496 square feet with three bedrooms and 3.5 bathrooms. Once part of a duplex spanning the 64th and 65th floors, the unit was separated in 1997. The condo has undergone a complete renovation featuring a minimalist Belgian design, meticulously crafted by a renowned designer. The interiors, pre-finished in Europe, enhance the home’s sophisticated ambiance.
Breathtaking Views and Elegant Spaces The residence offers stunning views of Central Park and the city skyline, thanks to its triple exposures that allow natural light to flood the living spaces. A grand gallery hall leads into a spacious living and dining area framed by expansive glass walls, creating an inviting atmosphere for both relaxation and entertaining.
Luxurious Amenities The primary suite is designed with a spa-inspired bathroom, complete with a soaking tub, exquisite stone finishes, and an extensive walk-in closet, all while providing unobstructed views of the Empire State Building. Beyond the unit itself, residents can enjoy the impressive amenities of Trump Tower, which include a private entrance on 56th Street, a 24-hour doorman, concierge services, and a fitness center. Luxury shopping and high-end dining options are conveniently located just steps away. | | | | Optimism Grows for Millennial Homebuyers | | | | Financial Hurdles Begin to Ease A primary challenge facing millennials in the current housing market is accumulating sufficient funds for a down payment, compounded by substantial student loan debt and elevated rental costs consuming much of their income. However, insights from a recent survey of over 750 Redfin agents indicate a potential shift towards a more accessible home-buying landscape.
Encouraging Trends in Down Payments More than half of the agents surveyed reported that successful homebuyers typically made down payments below 20 percent. Notably, 25 percent of agents observed that their clients secured homes with down payments ranging from 3 to 5 percent, demonstrating that even in competitive markets, success with lower down payments is achievable. In California, known for its bidding wars and steep prices, 22 percent of agents confirmed that clients successfully purchased homes with only 3 to 5 percent down.
Market Conditions Favor Buyers Current market dynamics indicate that conditions are improving for first-time and millennial homebuyers. There is a noticeable reduction in bidding wars, and buyers are no longer pressured to offer significantly above the listing price. As the market slows, potential buyers can afford to take their time. Sellers are gradually adjusting to a landscape where traditional buyers needing financing are gaining prominence over cash buyers and investors, resulting in more accommodating demands for prospective purchasers.
Strategic Advice from Real Estate Professionals With the market evolving into a more buyer-friendly environment, agents have shared valuable insights with their clients. Many emphasize that the highest offer does not necessarily represent the best offer. A buyer with a lower down payment who possesses a fully pre-approved and underwritten loan and is willing to waive the appraisal contingency may present a more compelling case.
Seventy-four percent of agents recommend obtaining a fully pre-approved loan package prior to making an offer, while 61 percent advise sellers that the highest offer may not always be the best. This information is particularly reassuring for buyers who may not meet conventional financial expectations.
Guidance Tailored for Millennials When addressing the specific challenges faced by millennials, agents offer practical advice. Engaging with a lender to explore options, even if immediate purchasing seems unlikely, may yield unexpected opportunities. Setting realistic expectations, such as opting for a smaller starter home that requires some work, can pave the way toward eventually attaining a dream home. Moreover, practicing fiscal responsibility by spending less than earned can facilitate wealth building, with mortgage payments often being lower than rental costs.
About the Survey The survey conducted by Redfin between September 15 and September 18 gathered responses from 762 agents across 38 states and Washington, D.C. | | | | Dazzling Beverly Hills Mansion Hits Market at $61.5 Million | | | | Luxurious Estate Now Available A sprawling 10-bedroom mansion in Beverly Hills has been listed for an impressive $61.5 million, making it the second most expensive property currently for sale in the exclusive Holmby Hills neighborhood. Spanning 17,000 square feet, this European-style residence promises opulence and sophistication.
Recent Controversies Surround Property This listing comes approximately six months after a high-profile raid conducted by Homeland Security, which targeted both this property and another residence in Miami. The investigations reportedly involved sensitive allegations, although specific details remain undisclosed.
Strict Viewing Policies Apply Prospective buyers should note that access to this property is highly exclusive, as viewings will be limited to prequalified clients only. Interestingly, the listing does not include any interior images, focusing instead on the estate's impressive outdoor spaces.
Potential for Significant Profit Originally purchased for $39 million in 2014, the owner seeks a substantial return on investment should the property sell for its current asking price. Noteworthy amenities include extensive outdoor entertaining areas, a grand foyer with a sweeping staircase, a chef's kitchen, and a wine cellar.
Exquisite Features and Amenities Occupying 1.3 acres, the mansion is set behind lush hedges, providing both privacy and an elegant atmosphere. Highlights of the estate include a spacious living room, a formal dining area, a theater that accommodates 35 guests, dual bathrooms, and a two-story guest house equipped with a recording studio. |
|
|
