We are all familiar with the saying that when it comes to making an investment in real estate: it’s all about location, location, location. In addition to finding a home that is conveniently located smack dab in the city, high-net-worth buyers today are also seeking well-appointed homes that come with all the comforts of modern living in 2022.
From incredible city views to lavish amenities designed to spoil you, here’s a look at three spectacular Manhattan homes that offer both unprecedented luxury and unparalleled convenience.
Spectacular City Views of the Lower East Side
This luxurious 1,595-square-foot Manhattan condo offers a taste of modern living with its stunning finishes. From the soaring 12-foot concrete ceilings to the stunning white oak floors, the spacious interior boasts a flexible open floor plan. Designed as a split two-bedroom, you could convert this easily into a three-bedroom home if you needed some extra space. The oversized industrial-style windows throughout the unit let in an abundance of natural light during the day and offer spectacular skyline views of the city at night.
The gourmet kitchen features high-end appliances, a wine fridge and a gorgeous Nero Marquina marble backsplash. A nearby primary suite features Blue de Savoie marble floors in the bathroom, a European walnut double sink vanity and a Bianco Dolomiti marble shower. The private 197-square-foot terrace is the perfect spot to soak in city living.
Located on the Lower East Side, the 89-unit building features an Equinox fitness center on the main level along with a 4,300-square-foot rooftop terrace that has two outdoor kitchens. There is also a 24-hour concierge on the first floor.
Price: $3,690,000
Beds/Baths: 3/2.5
Square footage: 1,595
Represented by: Mick Distasio and John Dugan, Elegran
Modernized Historic Home on Bowery
This impressive two-level residence was completely renovated in 2018 to pave the way for a modern minimalist style. The open floor plan now boasts soaring ceilings, oversized windows, exposed brick walls and gorgeous hardwood floors. On the upper level, you will find a gourmet chef’s kitchen with an oversized center island, cozy breakfast bar, lots of custom cabinetry for storage and stone countertops. There is a spacious dining room and living room on this level as well.
From here, you can access the partially covered outdoor trellis that would be ideal to enjoy al fresco dining. The three bedrooms can be found on the lower level. A gorgeous primary suite boasts a sitting area, wood-burning fireplace, dual built-in closets and a recently renovated bathroom with a soaking tub and walk-in shower.
Located in Manhattan’s Lower East Side, 259 Bowery is a six-story building that was built in 1910 and converted to condos in 1999. Just steps from restaurants, cafes and shops, the spacious condo also offers a beautiful outdoor terrace and a keyed elevator to easily transport you to each level of the home.
Price: $5,999,000
Beds/Baths: 3/3
Square footage: 3,700
Represented by: David Ghoneim and Vincent Pergola, Elegran
High Profile on Fifth Ave
From the Chevron pattern floors and custom millwork to the 2,000-square-foot private wing with a spa-inspired primary bathroom, every luxurious detail was considered when it came to shaping this designer-done residence at 212 Fifth Avenue in Manhattan. The bright and spacious home features soaring ceilings more than 11 feet high while a grand kitchen boasts a minimalist design, high-end appliances and a large marble island with seating for up to six. Even the stylish bathrooms here offer breathtaking city views from the oversized windows that you can enjoy from a soaking tub.
Located in Flatiron/Union Square, the 48-unit, neo-Gothic building was recently converted into residences that now offer a 24-hour concierge, a Jay Wright-designed fitness center, a yoga studio, a golf simulator, an entertainment room for the kids and a resident lounge. Originally built as a manufacturing building in the early 1900s, this prewar stalwart is located in the northwest corner of Madison Square Park and steps to an abundance of nearby shops and restaurants. Private storage space is also included.
Price: $10,250,000
Beds/Baths: 3/3.5
Square footage: 3,078
Represented by: Nick Montalbano and Ashley Reidy, Elegran
Manhattan Market Update
In recent months, the Manhattan market saw a slight cooling in September but remains stronger overall when compared with historical averages, according to an October 2022 market report from top New York-based brokerage Elegran. The report notes “that for the past four months, Manhattan’s contract volume has been at or very near parity with the historical average, which is a victorious headline given that ^GSPC (the S&P 500 index) ended September down 25% YTD and mortgage rates ended September higher by 100% YTD.”
With rising interest rates, a volatile stock market and threats looming about a recession, what does that mean for buyers and investors? The good news for buyers is that as market competition lessened over the summer, the fall months offer increased opportunities for negotiation considerations and decreased bidding wars. For investors and homebuyers alike, locations like Manhattan remain a sound investment spot “as a low volatility hard asset
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