Morning Briefing: New York apartment set to list at $250 million

by Steve Randall31 May 2016
New York apartment set to list at $250 million!
A penthouse apartment in Manhattan will easily surpass New York’s most expensive ever when it lists next year. The four-story apartment being built as part of a new development at Central Park South is estimated to have a price tag of $250 million!
The 23,000 square foot home will have 16 bedrooms, 17 bathrooms, a huge terrace and five balconies and will sit on the top floors of the 1,438-foot Central Park Tower at 111 West 57th Street.

"These are the trophy buildings of our era, and the foreign buyer clearly fuels this very, very high-end condominium tower market," John Burger, of realtors Brown Harris Stevens told CBS News.
Phoenix housing market reaches 10-year high
Home sales in Phoenix, Arizona grew 8 per cent in April compared a year earlier. There were 9,041 sales in the metro area according to data compiled for while condo sales were up to 1,637 compared to 1,514 a year earlier.

Prices increased to a median $235,000 across the Valley and foreclosures fell to their lowest level since 2006 with just 231 Phoenix homes foreclosed by lenders in April according to The Information Market.
Significant rise for Connecticut home sales
April sales figures continue to show strength around the US housing markets and Connecticut is no exception. The latest data from Connecticut Realtors shows 2,702 sales, a 17.8 per cent rise in the month compared to a year earlier. The median sales price was up 4.2 per cent to $248,000.

“It’s encouraging to see the continued growth in housing sales in Connecticut,” says Michael Feldman, 2016 President of Connecticut Realtors. “This shows great momentum for a strong Spring market that may remain robust heading into the fall.”
Townhouses and condominium sales in Connecticut increased 18 per cent year-over-year with a median sales price of $155,500 representing a 3.1 percent decrease from April 2015.


  • by billybob | 5/31/2016 11:53:55 PM

    I'll venture a guess that the vast majority of consumers have no idea what tila or respa stand for, much less what they do.


Is TILA-RESPA a good or bad thing long term?