New York’s Luxury Market Comeback; A First Look at Cipriani’s Canaletto Collection
By: Omi Ford
New York’s Luxury Market Comeback
For the first time in a year and a half, home contract signings increased in Brooklyn and Manhattan through October. While the state of affairs is still not exceptional, this is a marked improvement over October 2022, when the market was in free-fall. It could also be a potential sign for stabilization and continued improvement, according to the Real Deal. It all depends on how the Federal Reserve handles interest rates in the coming months. The Reserve chose not to alter interest rates at the start of November, and Manhattan’s luxury market may already be feeling the positive effects. Twenty-four contracts over $4 million were signed last week, doubling the previous week’s total, reports Mansion Global. Of the homes sold, 13 were condos, the most expensive of which being an under-construction residence at 50 West 66th Street, which asked $23.25 million.
A Look at the First Listing at Cipriani Residences Miami Canaletto Collection
The first unit at Cipriani Residences Miami Canaletto Collection has listed: Residence 7204 is a 3,494 square-foot spread with four beds, four-and-a-half baths, and exclusive perks such as a direct elevator entrance. It also includes a 1,558-square-foot terrace overlooking Biscayne Bay. The residence boasts the increased customization reserved for the upper floors of the tower. Potential owners even have the option to purchase a design package by 1508 London which includes custom furniture and accessories. Canaletto Collection exclusives, these packages include 2 options; Tradizionale, the Cipriani signature style, and Contemporaneo, for those with more contemporary preferences. Pricing for residences on the 04 line start at $6,755,900.
Exclusive Bid Sale at St. Regis Residences Boston
The Residences at St. Regis Boston have announced an exclusive bid sale running until November 16th. The sale includes ten one-to-two-bedroom residences. Prospective owners may request daily tours of the available residences. Certain features vary, with several residences offering balconies or parking spaces, and others offering furnishing or storage space at an additional cost. Minimum bids start at $1.399 million for a one-bedroom, one-bathroom unit, and range up to $2.999 million for a two-bedroom, two-and-a-half-bath unit with a den. The property boasts amenities such as a residents’ lounge, indoor pool, gym, spa, restaurant, and guest suites. Bids are due no later than 12 PM EST on November 16th.
Inside Olara’s Sales Gallery
Developer Savanna unveiled the sales gallery for West Palm Beach’s newest waterfront development, Olara. The 7,000-square-foot gallery functions as a tangible example of the level of luxury and hospitality Olara will bring to the Palm Beaches. The opening was celebrated with an exclusive party where guests toured a model residence showcasing the same finishes to be found in the completed residences, designed by Gabellini Sheppard. Other features of the gallery include a 9-foot scale model of the tower, and a virtual immersion room. Amenities will include 13,000 square feet of indoor and outdoor fitness spaces, olympic sized lap pool, private dock, and a 30,000 square foot restaurant space. Residence prices start at $2 million, with sales handled exclusively by Douglas Elliman. Those interested in visiting the sales gallery can find it at 300 Butler Street.