#Centurion real estate partners new york driver

Luxury Manhattan home sales were up 87.4 percent annually in the fourth quarter of 2021, according to appraiser Miller Samuel, which defines the luxury market as the top 10 percent of sales.Ĭenturion is the sponsor at 200 East 59th Street and 212 West 72nd Street, both luxury developments. He said that in the last weeks of 2021, into the first weeks of 2022, this overhang began translating into activity as more potential buyers returned to traveling. The combination of pandemic restrictions and improving capital markets and growing global wealth produced what Tashjian called “a demand overhang” among foreign buyers. “I was working with a buyer in the $20 million to $30 million range, and I just couldn’t get them here,” she said. Keller Williams NYC broker Nicole Gary recalled this past summer trying, unsuccessfully, to get one of her high-net-worth clients to the city to check out some properties. “And there was an opportunity, or people perceived there to be an opportunity, and we started to see some foreign interest, but it was tempered by the fact that people couldn’t come. “Pre-COVID, in the latter half of 2019, that market contracted,” said John Tashjian, co-founder and principal of Centurion Real Estate Partners. Add to that a dollar that has weakened against certain foreign currencies, and you have a set of conditions ripe for the return of international buyers to the Big Apple. At the same time, a rapid rise in the value of asset classes ranging from Tesla stock to Bored Ape NFTs boosted bottom lines around the globe.

The pandemic, combined with a Manhattan luxury scene that was already slumping in the years prior, produced a surfeit of bargains at the high end of the market.

That said, there could be a rebound in the making. Most people, after all, aren’t going to drop many millions of dollars on an apartment based on a virtual tour.

#Centurion real estate partners new york driver

With borders closed and movement restricted - either by law or personal choice - the international set that has long been a driver of demand for tony New York City residences has largely been sidelined since the winter of 2020. Manhattan during COVID-19 has been no exception. SEE ALSO: Sunday Summary: Orange You Glad It’s Almost Over?