Apart from the competitive demands in real estate market, real estate firms and realtors themselves raise the prices of properties because it can add value to the property's reputation.
This is probably the reason that prices of luxury condos have grown higher year after year. In fact, amid the fluctuating economy, real estate firms remain confident and positive about still getting big profits. They simply don't see the business fleeting that they're not threatened at all.
Luxury condos at a great price have been flooding in all the good places now and some of them are as follows.
This condo tower is located in the Financial District. This 191-unit glass condo is more than $1.1 billion in price, the total price amount reached after its $300 million increase since its May 2014 project approval. The selling price of spaces at 50 West Street is $2,400 per square foot, developers say via The Real Deal.
Designed by Sir Norman Foster, this property is the neighboring tower of Seagram Building. This tower is in the market for $867.8 million, the amount increased by $105 million after it was approved in October 2015. The building will rise 61 stories and two duplex apartments. Each apartment will have two full floors, according to the Department of Buildings.
Residences at the Mandarin Oriental, 80 Columbus Circle
Featured in City Realty, this property is a twin-tower with good apartments, a major hotel, offices, luxury restaurants, cultural facilities, among others. The three apartments in this tower is up for sale at $11.5 million to $12.82 million.
Vornado Realty Trust's 220 Central Park South
This property at Central Park South topped the list of luxury condos as it can be sold for $3.1 billion, the total price amount reached after its $932.8 million increase since it was approved in March 2015.
