In the news
May 25, 2017
De-luxed: Developers are chasing the lower end of the condo market
New condominiums coming to market are getting cheaper, as developers work to capture buyers in the popular sub-$5 million market. In Manhattan, the average unit price on condos approved for market by the New York Attorney General’s office has been steadily trending down over the past two years. Back in 2015, developers were shooting for an average unit price of just under $5 million, according to The Real Deal’s analysis of accepted offering plans for the borough. In 2016, that average had dropped 24 percent to just below $3.8 million. And it looks like the trend is here to stay. In the first four months of 2017, the analysis showed, the average accepted unit price in the borough was $3.1 million, down 18 percent from 2016’s average accepted price.
May 04, 2017
The Vantage Andres Escobar — a Colombia-born interior design whiz whose work appears all over the city (and the world) — was tapped to handle the architecture and interiors at the recently launched Vantage condominium at 308 E. 38th St. (Technical architecture was handled by Spivak Architects.) The result is sleek.
April 06, 2017
Gaia Real Estate can launch sales at $143M Vantage condo conversion
With an accepted offering plan in hand for the Vantage condominium at 308 East 38th Street in Murray Hill, Gaia Real Estate and Acro Group can launch sales of 97 condo apartments. The New York State Attorney General’s office approved the plans last month. The developers are targeting $142.8 million in sales.
March 24, 2017
Luxury Buildings’ Latest Amenity: Co-Working Spaces
Changing American work habits and the growing popularity of co-working spaces like WeWork, Workhouse and the Farm continue to transform the office landscape. Danny Fishman, a managing partner at GAIA Real Estate, said the company has “moved completely away from conference rooms.” At Nine52, a Hell’s Kitchen condo that began sales last spring, GAIA installed a 1,300-square-foot co-working space with corkboard walls, a long wooden table, sleek work carrels and a kitchen.