New York City is a city providing limitless lifestyle choices. It has illustrious social scenes, arts, style, the finest in dining and entertainment. It is impossible to compare any other city in the world with New York as the city boast of offering a living that is balanced between indulging and exploration.
Celebrities eyeing the New York spectacle include Seth Rogen and his Wife Lauren Anne Mille, Gwyneth Paltrow, Chris Martin, 40 under 40 Joe Sitt, Leonard DiCaprio, Ashley Olsen and Michelle Williams.
In 2007, the real estate market took a turn for the better, but it is in 2015 that the largest amount was spent on Real Estate since the 2007 peak. This was according to the New York –based brokers firm Ariel Property Advisors new analysis of the market. The total spent was $ 69.62 billion, which is higher than what was spent in 2007 by 11.48% this consisted of 3576 transactions of more than $ 850,000 apiece.
Some of the Companies making New York Real Estate a force to be reckoned with:
Ø Foster + Partners- Building Contemporary designs redefining the identities of significant cultural institutes like the British Museum.
Capital Group- Luxury Condos Development
Related Companies- Transforming real estate business by utilizing rezoning
Sorgente Group of America-Building Green friendly luxury real estate
Drake Designs Associates- Interior Designs
Robert A.M. Stern Architects-Iconic unique designs
HFZ Capital Group -Buying and transforming distressed properties
Miller Samuel Inc.- Offering real estate consultancy services
In 2015, developers were pushed further to the outer boroughs as the demand for houses grew as well as demand for cheaper lease, but they still made more money. This is because 2015, brought perfect conditions for rich real estate developers, the factors attributed to this perfect condition, being growing technology and city rezoning efforts to lower interest rates.
There is the utilization of the budding tech that is taking over Silicon Alley, commercial Real estate trust parted with $ 150 million by funding Tech Unicorn WeWork and obtained office space that is popular among freelancers and entrepreneurs.
Some companies are utilizing city-wide rezoning efforts, and one of the companies is Related Companies under the leadership of Stephen Ross. The company has now about $ 30 billion in asset management. The 2004 rezoning efforts, redrew about 40% of the city to create room for more developments around the subway.
There is a lot of confidence being created for private investors from the public investors who have invested $300 million in real estate spurring $ 10.5 billion in private investment. It is no wonder among the 163 real estate billionaires in the world, 38 are in America and New York boast of having ten of the coming from the City.