By Kim Velsey 4/30/12 1:03pm

Market Madness

Spring sales: there's just something in the air (orchidgalore, flickr)

Fire Sale! Luxury Home Contracts Were Raging Last Week

Ah, spring! The season of warm breezes, blossoming trees and brisk home sales is upon us. And last week saw a flurry of activity, with 22 contracts signed for homes $4 million and above, according to the Olshan Luxury Market report.

The number was a luxury market record for 2012, with the biggest contract signed for the $22 million duplex co-op at 88 Central Park West (12 room duplex co-op, park views, 6,000-square feet). However, most of the action was happening downtown and most of it involved condos (10 of the 22 contracts signed were for downtown condos). Read More

By Elise Knutsen 10/10/11 10:42am

Foreign Affairs

Give us your tired, your weary, your wealthy.

Barbarians at the Door: 1-in-3 Condos Bought by Foreigners

Wonder why luxury real estate is so expensive and hard to find these days? Blame the foreigners!

A report from Stribling released Friday gives some hard numbers to something New Yorkers have been complaining for years: foreigners are buying up all the best apartments. According to Crain’s, the brokerage claims that about 33 percent of all condo purchasers and 15 percent of all buyers in New York City are from other countries. Read More