Quote from the Sole24Ore: "At a recent conference - said Giampiero Rispo, founder of Domus Realty New York and go-to contact for celebrities and stars who buy in the Big Apple - data was showing that with China’s slower growth and the beginning of insolvencies in this market, a new global financial crisis is on the horizon. As a result, large portfolios are shifting from financial markets to real estate, starting with New York properties."

Read article (Italian version):

The hidden kingdoms of New York City’s ultra-rich

What’s even better than one of the biggest, most expensive apartments in Manhattan? Three of them.  Billionaire hedge funder Kenneth Griffin agreed in September to cough up roughly $200 million for three full floors of the 220 Central Park South condo tower, which is yet to be built.

In the meantime, Domus Realty has leased 3 floors in this 14 East 62nd street mansion.

The Chinese are about to flood the US real estate market

After yet another drop in the Shanghai stock market and Hang Seng index on August 6, Daniel Chang heard his cell phone ping. The real-estate agent was on a business trip in Shanghai, and he was mid-bite during a dinner when he saw his phone light up from a message on his app, WeChat.

“I don’t know if I can do this,” she told him over voicemail. “I might have to back out."



First MoMA Tower units hit the market

The long-delayed, Jean Nouvel-designed MoMA Tower in Midtown is finally hitting the market, with nine of the 1,050-foot-tall condo building’s 139 apartments for sale and asking between $3.17 million and $50.9 million.

Construction at the supertall residential tower, located at 53 West 53rd Street, started earlier this year, and units appeared on the market Friday afternoon alongside never-before-seen-rendering and floor plans.


Can the world’s first underground park become a reality in Manhattan’s Lower East Side? Considering the fact that the project’s organizers were recently able to attract 2,564 donors and raise $223,506, well over their $200,000 goal, in a single Kickstarter campaign, the answer seems to have become a bit more clear.

James Ramsey, an architectural designer and former NASA satellite engineer, and Dan Barasch, an art-conscious social entrepreneur, are the aspirational duo behind the project. Ramsey’s RAAD Studios will be tapped to design the park should all of the required funding be accrued.