NEW YORK CITY REAL ESTATE: HIGHEST RESIDENCE IN THE WORLD HITS THE MARKET, FERRARI’S NEW PUROSANGUE

by | Sep 25, 2022 | Listings for sale, Real Estate, Wealth Management

There’s penthouse living and then there’s this. Topping New York real estate news this week is the world’s highest residence in the world hitting the market, at Central Park Tower.

Related: Vancouver luxury real estate market: Fevered sellers’ market shifts to more of a balance

SERHANT. is the New York real estate brokerage that has the listing, pricing the penthouse at $250 million. Situated 1,416 feet from the ground, the penthouse features 17,545 square feet of interior living space and 1,433 square feet of outdoor space. The property spans three floors, atop the world’s tallest residential building.

Said SERHANT. founder, CEO and broker Ryan Serhant: “The Penthouse truly epitomizes bespoke living and has rightfully earned its moniker as the most spectacular jewel of New York. This exclusive listing elevates our SERHANT. Signature offering and reinforces our team’s expertise creating content that drives engagement and commerce in the global, ultra-prime luxury market. The design, features, and views of this home offer an unparalleled luxurious, spacious, and exciting living experience. It’s a once in a lifetime opportunity to market this incomparable listing and we’re thrilled to be a part of Central Park Tower. We can’t wait to share this modern marvel with the world.”

Study: More than half Gen Z and Millennials relying on inheritance

A study by Edward Jones Canada on wealth transfer trends since the start of the pandemic says more than half of Gen Z and Millennials (54 per cent) need a financial inheritance or windfall to reach their financial goals, which is 13 per cent more than the national average.

According to the study, age remained a key differentiator in terms of what has prompted wealth transfers since the start of the pandemic. For those aged 35-54 and 55+, wealth transfers were prompted by the death of a family member or friend (51 per cent and 63 per cent, respectively). This was much less of a factor for Gen Z and Millennials (28 per cent), who gave and/or received a wealth transfer to address more immediate needs or life events.

Those include personal financial factors like job loss or unforeseen home and health expenses, factors related to the economy, like inflation and interest rates. It’s also includes major purchases like a home, home renovations or a car, and significant life events like a birthday, or having a child.

Celebrity real estate: Kim Kardashian’s new Malibu home

Kim Kardashian has added to her real estate portfolio, picking up a spectacular property with big ocean views in Malibu’s Encinal Bluffs for $70.4 million.

Supermodel Cindy Crawford used to own the home, listed with Jade Mills of Coldwell Banker for $99 million. Even at $70.4 million, it is the most expensive home sold in Malibu this year, and the fourth priciest in the State of California.

A two-story, red-roofed Mediterranean, the residence spans 7,450 square feet. It stands on 3.2 acres of luxuriously landscaped grounds. With a chic, airy floor plan, the main floor is complete with a great room combining the living room, den, dining area, and gourmet kitchen. Floor-to-ceiling sliding glass doors showcase sweeping coastline views and open onto the wraparound deck with firepit.

The grand master suite includes a fireplace and sitting area, as well as dual spa-like bathrooms and a walk-in closet. The other bedrooms include their own en-suites, with one having a private entrance, bathroom and kitchen. A gym with vaulted ceilings and a media room complete the villa.

News notes

  • Ferrari rolls out the first-ever 4-door Purosangue.
  • Fairmont Mayakoba, located in the Riviera Maya region of Mexico, opens an epic new beach club, called Maykana.
  • A custom-built, oceanfront estate in the Cayman Islands, once listed for $11.5 million USD, hits the auction block Oct. 7, available to the highest bidder. Details here.

 

Cayman Islands estate

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