Morning Briefing: Penthouse becomes NYC’s most expensive ever

by Steve Randall02 May 2016
Penthouse becomes NYC’s most expensive ever
A home on Manhattan’s Fifth Avenue has become the city’s most expensive listing. The former home of financier John Gutfreund, the CEO of Solomon Brothers who died in March, is listed at $120 million.

The 12,000 square foot co-op includes 20 rooms on the 7th and 8th floors of 834 Fifth Avenue and was bought by Gutfreund and his wife in the 1980s. The home has a master suite and three additional bedrooms, servants quarters and stunning views over Central Park.

The listing is with John Burger and Richard Ziegelasch of Brown Harris Stevens; and A. Laurance Kaiser IV and Craig Dix of Key-Ventures
Significant jump for home sales in Texas
The first three months of 2016 were great for realtors in Texas. Sales increased 7.8 per cent from a year earlier with 65,265 homes sold statewide.

Jim Gaines, Ph.D., economist with the Real Estate Center at Texas A&M University, added, “The Texas economy is experiencing a cooling-off period after a five-year boom, so the Texas housing market’s strong gains despite the current uneasiness in the state economy are remarkable.”

The median price of a Texas home increased 5.4 per cent year-over-year to $195,000 in the first quarter. Inventory was down to an all-time low of 2.8 months.
Thor actor downsizes in Malibu
Actors Chris Hemsworth and Elsa Pataky have sold their Malibu home for $7 million; and bought another for around half the price. The couple spend much of their time in Australia and have seen a hefty profit on the home they bought from Crocodile Dundee actor Paul Hogan three years ago for $4.8 million. That profit almost covers the cost of the couple’s new Malibu pad costing $3.45 million.


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