We're doing beyond well
said CEO of Vornado Realty Trust.
How to catch a whale; put a unicorn in front of them. Global money has not yet exhausted itself on trophy properties. The bets on asset price appreciation keep rolling in. Here are some snippets from the WSJ May 12, 2015
- 220 Central Park South secured $1.1 billion in sales ... in just six weeks on the market.
- At One57... sales have picked up substantially ... hope to sell out the tower by the end of the year.
- The well of buyers is deep ... at least for the best towers.
- Investors look for higher returns than they can get from bonds.
- Many apartments go unoccupied, used only as investments.
- Details on buyers are scant, since wealthy purchasers typically shield their names.
- Real-estate markets that lack transparency are prone to overbuilding.
- Very little information is actually getting into the market ... everyone’s just copying each other.
One57 sells for $100,000,000
and... how to adorn a Unicorn
- Only 16 percent of the 53,710 Vancouver homes sold in 2014 were priced over $1 million.
- The average sale price of all residential properties in 2014 for the bottom 80 percent of the Lower Mainland Vancouver market of 42,968 units, was $462,792.
- The average sale price of the bottom 80 percent of just the condo market was $327,486.