After weeks of sluggish luxury sales, the first week of August hit a two-year high with 43 contracts signed for residential properties priced at $4 million or more — the highest number inked in a single week since March 2014, according to Olshan Realty’s latest marketing report.
The sudden spike is largely due to a flood of sales at William Macklowe Company’s condo project at 21 East 12th Street and Related Companies’ 70 Vestry Street. Together the buildings accounted for …
by Riccardo Ravasini While a Tesla charging station may be the latest amenity being offered, developers are continuing to command a premium for high ceilings and windows. In fact, according to Realtor.com analysis, buyers are more than willing to fork over larger sums for units with ceilings rising 11 feet or higher.
Developers who raise the ceiling to 10 or 11 feet from a more typical 8 or 9 feet may ask an average premium of 50 percent on a square foot basis. …
by Riccardo Ravasini 
Forget swimming pools, rooftop terraces, porte cochères or even helicopter landing pads. The latest amenity at high-end apartment buildings in the U.S. is a charging station for electric vehicles. A recent study from Bloomberg New Energy Finance found that sales of electric vehicles will hit 41 million by 2040 to account for 35 percent of car sales.
Developers are betting big on the electric-car market taking off and, as a result, are installing electric charging stations at high-end buildings nationwide. …
by Riccardo Ravasini Paul Massey, currently the president of New York investment sales at Cushman & Wakefield, is making his bid for mayor official. Recently, he created a committee to raise funds and has brought on David Amsterdam, vice president of leasing at SL Green Realty, to spearhead his mayoral campaign. Amsterdam, who has worked for SL Green since 2011, is leaving the firm to dedicate his time to team Massey.
Massey, 56, co-founded Massey Knakal Real Estate Services in 1988. It grew …
by Riccardo Ravasini 
Even before Britain shocked the global markets and voted to break off from the European Union, international buyers were looking to move investments to New York and away from London. Amid the uncertainty caused by “Brexit”, London’s housing market is expected to take a hit — though it’s unclear how severe the blow will be and how long it will last is — and its status as a global gateway city could be in jeopardy. Some experts are predicting London …
by Riccardo Ravasini 
In an era of soaring glass skyscrapers, some developers are using a vintage look to differentiate their buildings and close deals in a tightening market. New York City developers are increasingly turning to terra cotta and other natural materials to court buyers seeking authenticity, artisanship and old-world charm, despite costs that often approach $100 more per square foot than modern glass. For instance, the 14-unit Fitzroy in Chelsea, developed by JDS Development Group, has a terra cotta façade and copper-framed …
by Riccardo Ravasini