Extraordinary talents call for extraordinary living. Some of New York's most exceptional and opulent real estate have been bought by celebrities and with the media always focused on them, their real estate investments have become prime examples of market standards.
While Michelle Williams's latest purchase of a century old Colonial Revival in Brooklyn's Ditmas Park opened the country's eyes to the suburban possibilities right on the outskirts of Manhattan, Katie Holmes' $25K per month rental in Chelsea served as a reminder of the many prices, amenities, and possibilities the city has to offer, NY Daily News reported.
However, celebrities often have bigger intentions than just create real estate transactions. Sarah Jessica Parker and Matthew Broderick attempted to remodel a 6,800 square foot Greenwich Village townhouse which they bought in 2011, but did not earn any profit or break even with its sale this past March.
National Basketball Association stars have joined celebrities, REITs, and international banks in making real estate investments in New York. The National Basketball Players Association organized a two-day real estate symposium at which NBA players were taught the basics of investing. The gathering's goal is to give players a life after basketball, The Real Deal reported.
Luol Deng, a player for the Miami Heat and symposium attendee looked at real estate as something a person can invest in if they understood it well.
For decades, those with an eye for future growth have been investing in real estate, and specifically the possible success of the New York market in the future. Brooklyn's DUMBO was created as a result of Two Trees' Founder David Walentas's goal of flipping the Brooklyn waterfront neighborhood from a plot of warehouses.
Of course there are still projects that are unique to an investor, such as Leonardo DiCaprio's eco-conscious resort on his exclusive island in Belize.
DiCaprio is not a new to green building. He previously invested in a health-conscious condominium in Manhattan developed by the same team as his resort. While many stars have been leading the market, DiCaprio is clearly one step ahead of all of them.
