Jump to content
Forums forums
PRIMETIMER
Aethera

Million Dollar Listing NY

Recommended Posts

Article about sales slump in high end NY real estate.

https://www.wsj.com/articles/the-man-behind-billionaires-row-battles-to-sell-the-worlds-tallest-condo-11547739897

May have to post on social media and click the link there to read the story.

Basically in 2018, Manhattan home sales were down 14%, the highest since 2009.

They profile Gary Barnett, who created "Billionaire's Row" with apts over $60 million.  He's giving discounts but making buyers sign NDAs so they don't disclose what they paid.

But Barnett borrowed money from overseas and built one of the first high-end towers, One57, around 2011 as the economy and market snapped back.  But he marketed to Russians, Arabs and Chinese to sell these expensive apts.

Now, there's a glut of them.  In 2011 there were about 200 real high end apts. available in the market.  In 2019, there are 10 times as many and the number is expected to go up to over 3000.

I guess none of the MDLNY guys work on these $60 million and more apts and certainly not on Billionaire's Row with views of Central Park.  Then again, Russian oligarchs, Chinese with connections to take money out of China and Arab sheiks don't want to be on a Bravo TV show.

However it sounds like other developers drafted behind the high-profile properties that developers like Barnett created and so they're selling properties up to $10-20 million because the high-profile properties lift the prices of everything else.

For instance, in 8 years, average price of ALL properties in Midtown around 57th Street went from $1.2 to about $2.0 million.

  • Like 1

Share this post


Link to post

Congratulations to them but are we going to get overloaded with cuts of the baby and the couple in the next season?

Share this post


Link to post
On 3/3/2019 at 11:33 PM, scrb said:

Congratulations to them but are we going to get overloaded with cuts of the baby and the couple in the next season?

No doubt, unfortunately

Share this post


Link to post
39 minutes ago, LucindaWalsh said:

I love that he calls her their little Puff! What did they name her?

Zena

I have to say, I follow Ryan on Instagram* (of which I look at all of once every couple weeks if I think about it) and never saw any mention of them expecting a child. He even posted some more recent pictures (December?) of him and Emilia somewhere tropical and she didn't look pregnant at all to me. I suppose that could be because they are saving it all for the show. 

I follow all of the MDL people on Instagram because I am addicted to real estate porn 🙂

Share this post


Link to post

So when is the new season?

Share this post


Link to post

Wow, Steve Gold and his girlfriend just had a baby. He met the gf last August on a flight to London. That was a pretty immediate pregnancy. 

Share this post


Link to post

Ugh then baby story lines for all 3 of them.

what a snore fest.

  • Sad 1

Share this post


Link to post

They named the baby Rose Gold. That makes me think of rose gold jewelry. 

  • Like 1

Share this post


Link to post
1 hour ago, NotChristine said:

Season 8 trailer

Luis is back 🙄 . New guy🙄

I like Luis. Not sure about the dangly earring. I hope he is happier now. 

  • Like 2

Share this post


Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×