It must be a good time to buy real estate. After plunking down $10 million for a Palm Beach mansion in February Thomas Smith and wife Diane have scooped up a four-bedroom co-op at 1030 Fifth Avenue for $15.5 milllion.
Does Mr. Smith, the co-founder and president of Prescott Investors, know something about the real estate market that makes now a good time to buy? Or is the octogenarian, who lists his company’s Greenwich address on the deed, downsizing from some larger place elsewhere?
If there’s anything better than buying right now, it might be selling, especially if the Smiths have an even more luxurious place tucked away elsewhere in the city.
The Next 100 Years: A Forecast for the 21st Century
By George Friedman
Doubleday, 253 pages, $25.95
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