In Market

London Is Europe’s Best City for Investing; Bon Jovi Seeks $22M for Manhattan Condominium

By: Ameena Walker

Brooklyn’s One Prospect Park West Officially Opens to Residents

After years of renovation, closings are officially underway at Brooklyn’s historic One Prospect Park West. According to a press release, more than half of the building’s 64 residences are already under contract, with move-ins in progress. The development features interiors designed by Workstead, who was tasked with transforming the 1925-built structure into lavish condominiums. Prices start at $2.35 million for a two-bedroom, two-bathroom residence spanning nearly 1,600 square feet, and go as high as nearly $7 million for a 3,100-square-foot penthouse.

The building’s amenities, to debut this spring, will include an attended lobby, a fitness studio with personal training, a basketball court, a children’s playroom, and a roof terrace with a lounge and views of Manhattan.

In Miami, $15.9 Million Penthouse Sale Sets New Record in Brickell Neighborhood

A six-bedroom penthouse at the Four Seasons Brickell in Miami has claimed the title of the neighborhood’s most expensive home sold, reports Mansion Global. The 8,800-square-foot condominium sold for $15.9 million to a buyer shielded by a limited liability corporation. The apartment resides on the building’s 67th floor and features six full bathrooms, four terraces, a glass-encased wine room that holds up to 700 bottles, and ocean views from nearly every room. The sale included $2 million worth of curated artwork and sculptures.

Bon Jovi Seeks $22 Million for Greenwich Village Residence

Rock star Jon Bon Jovi is looking to unload his Greenwich Village condominium for $22 million, notes the Wall Street Journal. Located at Greenwich Lane, Bon Jovi purchased the 4,000-square-foot home in 2017 for $18.9 million. The apartment offers four bedrooms, a 40-foot-long living room, floor-to-ceiling windows, a private terrace, Juliet balconies, private elevator access, and views of Lower Manhattan.

London Ranks First Among Top European Cities for Real Estate Investing

An extensive report from PwC and the Urban Land Institute revealed the top European cities for real estate investment in 2022. The report found that London ranks as the best city for overall real estate investment and development prospects, followed by Berlin (which ranked first in 2021), Paris, Frankfurt, and Munich.

Not only is demand for real estate in the aforementioned cities high, industry professionals are forecasting a return to pre-COVID levels when it comes to expectations of profitability. While there is still plenty of volatility and uncertainty within real estate, investors are confident that real estate ventures in these European cities will outperform against any further potential setbacks.

Meanwhile, with London’s real estate market booming and with heavily increasing foreign interests, the city’s mayor, Sadiq Khan, has called for more transparency around property ownership. Khan has also proposed a register of overseas property ownership in a bid to crack down on money laundering, reports CNBC. The register would make it easier to trace the owners of properties and might thwart the harboring of corrupt funds.

“The truth is that property in London plays a central role in harboring illicit funds from around the world, which also results in many properties being left empty and unused at a time when many Londoners are struggling to afford a home to buy or rent,” Khan said.

Selene, Once Known as 100 East 53rd Street, Gets a Rebrand

The Foster + Partners-designed tower at 100 East 53rd Street has been rebranded to Selene. The 63-story condominium offers 94 residences that come in one-bedroom through four-bedroom configurations, with prices starting at $1.875 million. 

The building’s lobby, as well as its Atlas Club + Library amenity space, is designed by AD100 designer William T. Georgis. Residences boast 11-foot concrete-clad ceilings with custom lights and floor-to-ceiling windows featuring skyline views. Additional amenities at Selene include a 60-foot sunlit swimming pool, a fitness center with a Pilates/ballet room, spa treatment rooms, and curated artwork throughout the building’s public spaces.