Who's Buying $30M-plus Apartments?
Yesterday Bloomberg posted a video interview with Dune Real Estate Partners CEO Daniel Neidich, whose 56 Leonard has a $35M unit on the market. Asking price less than two years ago: $26M. Asked how a price jump of almost a third could happen so fast, Daniel says the jump is the result of a scarcity of units at that price point along with an improving market overall. Buyers at the Jenga-game-like TriBeCa tower were mostly domestic and largely local. He also noted that only a small number of foreign buyers were snapping up units, unlike in the supertall towers along 57th Street, where a big share of buyers are foreign.