Luxury condos more popular.
Wednesday, December 26 2001
Published on AllBusiness.com
Luxury condominium developments in traditional neighborhoods have become increasingly popular among homebuyers, as more and more people look to liquid assets to guard against economic uncertainty, according to Louise Sunshine, CEO of The Sunshine Group.
Sunshine points to the Grand Beekman, a new luxury residential condominium being developed at 400 E. 51st St. as an example. Over the last few months, sales have been substantial, topping $32 million, with a number of contracts being signed after Sept. 11.
A vision of developer Izak Senbahar and architect Costas Kondylis, Grand Beekman will rise 32 stories and feature 89 luxury residences designed to resemble the classic Park Ave. apartment layouts of the 1930s.
