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High-Rises on the Price Rise

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Photo by Julia Becher, from Unsplash

The luxury market for Manhattan apartments is making a strong comeback in 2019.

The top property reported in the past month is a veritable dream penthouse, 50 United Nations Plaza, which contains a five bed, six-point-five bath, floored with marble, covered with a high ceiling, looking out over the East River. For the price of a paltry $26 million, you could count yourself among the building’s 87 other wealthy elite tenants.

Want something a little more down-to-Earth? How about a slightly refurbished townhouse on East 84th street, for just under $22 million. More properties with four bedrooms and four-plus bathrooms are going from anywhere between $5.3 million to $15 million all over the city, with more condos being signed into contract every day.

The cause might just be declining interest rates in real estate, breathing new life into the market. If you’re feeling flush and looking for a new place, now’s the time to start investing.

Chiu, David. Report: Manhattan Luxury Home Sales Continue to Trend Upward. (June 2019). https://cooperator.com/article/report-manhattan-luxury-home-sales-continue-to-trend-upward

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