NYC Luxury Real Estate Blog

The Ultra-Luxe Baccarat Hotel and Residences

Baccarat Hotel and Residences

The world renowned crystal brand, Baccarat, is expanding its horizons by delving into the hospitality and housing with its first opening, the Baccarat Hotel and Residences, in Midtown New York.

New Developments Roundup: Featuring Dumbo

March was a big month for new developments, and with New York City’s population reaching an all time high, these new building are going to come at the right time. New Yorkers have been talking about these especially notable developments: 100 Varick Street, 10 Jay Street, and The Dumbo Waterfront.

Restoration for the Wallace Wing

Met Museum

The Metropolitan Museum of Art began planning to rebuild its Modern and contemporary art wing in May 2014, the first comprehensive re-examination of the museum's layout in over 40 years. This acknowledgement from the Met represents a realization that the Modern and contemporary wing needs some attention. “It seemed a logical moment to really step back and think about the needs of the museum in the next 30 years,” said Thomas P. Campbell, the director of the Met. “It’s the Modern’s wing’s turn to get it right.”

The New Kids on the Block: Chinese Investors

Chinese investors pumped more than $3 billion into New York real estate last year, nearly 43 percent more than 2013. This only seems to be the tip of the iceberg as foreign investors dominate Manhattan’s condo and townhouse market – accounting for  30 to 40 percent of institutional and individual buyers. Chinese investors are particularly interesting due to their propensity for “central city/urban” real estate, the increasingly powerful yuan, and the overall slowing of Chinese economy. The combination of factors has created the perfect incentive for Chinese investors to expand their assets.