In Market

Miami Buyers Turn to Condos; Manhattan Penthouse With Record-Setting Pool Lists

Feb 5, 2021 | By: LX Collection

Miami’s Hot Condo Market Now Accounts For About 50% of Luxury Sales

Miami’s luxury market continues its hot streak as buyers turn their attention from single-family homes to condos. Craig Studnicky, president of international realty company RelatedISG, told Forbes that condominiums now account for about 50 percent of luxury sales in the area. (Condo sales in the fourth quarter of 2020 in Miami-Dade County were up by more than 30% compared to the same period last year, according to the Keyes South Florida Luxury Market Report.) “Condo sales have roared back as we have become more comfortable living with the virus and the safety standards of wearing masks, using hand sanitizer, and social distancing,” Studnicky told Forbes. “As a result, buyers are now wanting condominiums especially as demand for single-family homes increased while we saw significant inventory declines.”

Manhattan Building With Central Park Views Set to Debut From $2.1 Million

The Leyton will bring 38 new residences to the Upper East Side in a March sales launch, Mansion Global has learned. The 37-floor building was designed by Manuel Glas, a New York-based architect who formerly worked alongside 277 Fifth Avenue architect Rafael Viñoly. The residences will begin on the building’s 10th floor, with the highest portion of the building featuring 10 full-floor residences and a duplex penthouse — all with large, private outdoor spaces and unobstructed views of Central Park. One-bedroom residences will start at $2.1 million, and four-bedroom spreads will begin at $11.6 million. Brown Harris Stevens is handling sales in the building.

$50 Million Manhattan Penthouse Has City’s Largest Private Outdoor Rooftop Pool

A West Chelsea penthouse with a 61-foot rooftop pool is on the market for $50 million — a price tag that nets the buyer a raw space ready to be designed to their liking. The penthouse sits atop 551 West 21st Street, a 19-story building by Foster + Partners with an exterior featuring a grid of white cast concrete with bronze detailing around floor-to-ceiling windows. The unit, offering 6,400 square feet of interior space and a 4,600-square-foot rooftop terrace, is being sold by development company executive David Weinreb, who, according to Mansion Global, purchased it for $38 million in 2017. Beyond boasting the city’s largest private outdoor rooftop pool, the penthouse is being sold with multiple floor plan options for its future owner.

Boxing Champion Lennox Lewis Offloads Miami Condo

Heavyweight boxing champion Lennox Lewis has offloaded his Miami pied-à-terre, according to Realtor.com. The 1,830-square-foot residence at Biscayne Island’s 1000 Venetian Way has two bedrooms and two bathrooms, and the corner layout allows for a wraparound terrace with views over Biscayne Bay and the Miami skyline. Lewis sold the residence for $1.39 million — 21 years after picking it up for $477,500.

Davos Postponed Until August

The World Economic Forum has announced that it will delay its annual meeting — referred to as Davos, the name of the Swiss city where the gathering is normally held — because of complications brought on by COVID-19. The in-person event will now take place in Singapore from Aug. 17 through 20, not May 25 through 28 as previously planned, ABC News reports.