You are here

The logic of an empty US$100m New York pad

There are various allures to Manhattan property for superwealthy buyers prepared to pay record-setting prices for new developments

BT_20150212_PARK12_1511547.jpg
At the highest end of the New York property market, returns outperformed almost all other asset classes. In 2013, properties that changed hands for more than US$9.5 million gave their sellers an average 32% profit, according to StreetEasy.

New York

FOR most investors, a diversified portfolio means a prudent mix of stocks and bonds; for the global elite, diversification increasingly means splurging on New York apartments that can cost tens of millions of dollars, or more. Across Manhattan, real estate developers are

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom