Parts of the Hamptons are priced (on a per square foot basis) more affordably than parts of the Rockaways or even Staten Island, according to data analyzers NeighborhoodX.
As one of America’s most elite summertime destinations, the Hamptons are home to many celebrities, CEOs, and New York’s many socialites. Though considered one of the most expensive real estate markets in the country, other parts of the NYC Metropolitan area are surpassing the Hamptons in price by square foot.
Based on a study conducted for August 2018, NeighborhoodX found that several part of the Hamptons, typically thought to be untouchable real estate, are more affordable than beach towns elsewhere in the New York City area. For example, the average asking price per square foot in Riverhead, on the North Fork of the Hamptons, is $267/sq.ft., which is more affordable than City Island in the Bronx, where the average asking price is $362/sq.ft.
NeighborhoodX, who gathered the data in this study, is a real estate & data analytics firm whose data has been featured in The Real Deal, Wall Street Journal, Curbed, and several other real estate outlets, founded by Constantine Valhouli and advisor Jonathan Miller.
Courtesy of Wiki Commons / Mark Jenney
This set of data further suggests that Brooklyn’s beach towns are currently surpassing the Hamptons in terms of price by square foot. The average asking price for Brooklyn’s Manhattan Beach is $619/sq.ft., and in Brighton Beach, the price is $617, both of which are higher than those in some of the leading Hamptons sections, including Sag Harbor, at $614/sq.ft., Amagansett at $598, and Southampton at $554/sq.ft., according to the study conducted by NeighborhoodX in 2018.
The average asking price in Rockaway Beach, which is $335/sq.ft., is on par with the Hamptons’ East Quogue, at $373/sq.ft. Meanwhile, on Staten Island, South Beach ($388) and Midland Beach ($372) are priced on par with Shinnecock Hills ($392) and East Quogue, respectively.
In another set of data, NeighborhoodX found that the average property in Manhattan is more expensive per square foot than the trophy properties in many cities, as the average property in Manhattan is $1,773/sq.ft., surpassing Portland ($1,053), New Orleans ($1,308), Austin ($1,466), Philadelphia ($1,643), and Denver ($1,708).
High-end restaurants collaborate with residential buildings in major cities such as New York and Boston to create the ultimate experience for residents.
Waterline Square and Cipriani
Waterline Square has been designed by Rafael Viñoly Architects, Richard Meier & Partners Architects and Kohn Pedersen Fox Associates to create an iconic collection of luxury residential buildings on one of the last remaining waterfront development sites on the Upper West Side of Manhattan. The masterplan encompasses nearly five acres and will be located in Manhattan along the Hudson River from West 59th Street to West 61st Street where Midtown meets the Upper West Side.
Located within Two Waterline Square, designed by KPF, the groundbreaking development will be home to the first-ever experiential food market by the Cipriani family.
The Cipriani family will develop 28,000 square feet of space for a large-format culinary experience with multiple food and beverage establishments, including a market, restaurants and fast casual outlets. Martin Brudnizki, the internationally-acclaimed, London-based interior designer, will design the new Cipriani food hall.
Photos courtesy of Four Seasons Hotel & Private Residences One Dalton
Created and co-founded by acclaimed chef Rainer Becker, Zuma takes its inspiration from the informal and popular Japanese izakaya, where guests enjoy a relaxed dining and drinking style that uniquely embraces every element of Japanese cooking under one roof. Zuma takes this ideology, and in an elegant and contemporary environment, offers a modern Japanese dining experience that is authentic, but not traditional.
Developed by Carpenter & Company, the Four Seasons Hotel & Private Residences One Dalton Street, Boston, is slated to become New England’s tallest residential tower upon its completion. Designed by legendary architect Henry N. Cobb, in collaboration with Cambridge Seven Associates, the 742-foot tower will feature 160 luxury condominiums and the second Four Seasons hotel in Boston. Celebrated designer Thierry Despont has crafted custom interiors for the residential lobby and 50th floor Club Lounge.
30 Park Place and CUT by Wolfgang Puck
Located in Tribeca at the corner of Church Street and Park Place, 30 Park Place is the tallest condominium tower to grace the Downtown skyline at 926 feet, with panoramic views of Midtown Manhattan, the Hudson and East Rivers, the New York Harbor and Statue of Liberty.
30 Park Place is designed by celebrated architect, Robert A.M. Stern, developed by Silverstein Properties and offers 157 residences in a mix of one- to six-bedrooms. 30 Park Place also features nearly 40,000 square feet of amenities, as well as a full suite of hotel services, all managed by Four Seasons Hotels and Resorts.
The Four Seasons Hotel New York Downtown sits below the private residences at 30 Park Place. Occupying the first 24 floors of the tower and known for its five-star services, experiences and amenities, The Four Seasons Hotel New York Downtown is home to CUT by Wolfgang Puck, the celebrity chef and restaurateur’s first and only New York restaurant. Accessible through a secret door on the residents’ side of the building, 30 Park Place owners never have to leave the building to dine at Puck’s restaurant.
Photo courtesy of Moso Studio
Photo courtesy of Joël Robuchon
Photos courtesy of Noe & Associates with The Boundary
Four Seasons Hotel & Private Residences and Zuma
Four Seasons Hotel & Private Residences, One Dalton Street, Boston has announced its partnership with internationally acclaimed celebrity-studded restaurant group, Zuma, which will offer world-class cuisine to One Dalton residents, hotel guests and locals alike in early 2019. The Boston location marks the company’s first collaboration with Four Seasons Hotels & Resorts and its fourth location in the United States — part of a successful expansion into the American market.
The restaurant will showcase bold flavors and simple presentation combined with an environment of sophisticated and stellar service. Zuma will bring its signature culinary approach with a touch of local flavor to Four Seasons Hotels & Resorts’ upcoming Boston location, which will be located on the third floor of One Dalton and designed by Noriyoshi Muramatsu of Tokyo-based Studio Glitt.
Photos courtesy of 30 Park Place
242 Broome and Make It Nice
242 Broome is the first condominium within Essex Crossing, a planned mixed-use development comprising residential, office, retail, cultural and community space on Manhattan’s Lower East Side. The 14-story, 55-unit luxury building designed by SHoP Architects will also be the new home of the International Center of Photography, which will feature an event space run by Make It Nice — the hospitality group from Eleven Madison Park.
The co-owners of Make It Nice, Will Guidara and Daniel Humm, continue to transform the world of dining with their critically acclaimed restaurant Eleven Madison Park, which is currently rated the best restaurant in the world on The World’s 50 Best Restaurants list, possesses three Michelin stars and received a four star review from The New York Times in 2015. The pair’s Make It Nice hospitality group also oversees the food and beverage spaces at The NoMad hotels in New York and Los Angeles in addition to Made Nice in The NoMad where seasonal dishes are served in an elevated counter service environment.
Make It Nice’s collaboration with ICP marks its first off-site partnership. Guests attending events in the dramatic bi-level space on the top floors of ICP can expect the same outstanding hospitality and exquisite food intrinsic to these distinguished restaurants.
One Hundred East Fifty Third Street and Joël Robuchon
Soaring 63 stories with a collection of 94 contemporary homes, One Hundred East Fifty Third Street is a striking new modernist architectural landmark from Foster + Partners, which offers the highest level of lifestyle services and comfort. Residents at One Hundred East Fifty Third Street will enjoy the distinct privilege of sharing their address with a restaurant by Joël Robuchon, the world’s most decorated Michelin-starred chef. The tower is anchored by a soaring bi-level space designed by Joseph Dirand that will feature two highly anticipated dining concepts slated to open this year. Residents will receive preferred access to these restaurants as well as in-home dining options.
“We are thrilled to partner with Joël Robuchon and Aby Rosen on this exceptional project,” said Alex Gaudelet, CEO of Invest Hospitality. “The combination of the chef with the most Michelin Stars in the world and one of New York’s most audacious visionaries is going to make for an iconic venue.”
In addition, the building offers super luxe, spa-inspired amenities designed by AD-100 designer William T. Georgis. They include a 60-foot sunlit swimming pool, a cardio room, weight room, pilates/ballet room, yoga room, sauna, steam room, spa treatment rooms and his-and-her changing rooms and showers.
Residences at One Hundred East Fifty Third Street are a mix of tower-style units with skyline views and a specialized collection of loft residences on the bottom floors, which feature concrete walls and floors and are specifically designed to accommodate large art collections. Pricing for available units in the building begins at $2.3 million for a studio, and go up to $65 million for the 6,760-square-foot penthouse.
Los Angeles is the best city in the world to invest in real estate, according to an article published on Forbes.com.
The top 10 cities as ranked in the Schroders Global Cities 30 Index.
The City of Angels beat out London as the new hot spot for global real estate investors in the third annual Schroders Global Cities 30 Index, released on June 26.
For a city known more as a one-trick pony producing movie magic, Los Angeles is home to the well-respected colleges UCLA, USC and Pepperdine and start up tech companies are claiming their spot on the A-list. Snapchat, Pandora, eHarmony, Dollar Shave Club and Boingo Wireless are just some of the big names in tech that call LA their home. This means there is more to LA than acting and writing screenplays. LA is not only attracting some refugees from costly Marin County up in northern California, but it is also attracting Chinese capital. China is building real estate and moving in to LA at a faster pace than they are in Miami and New York.
“The scale and economic depth of LA makes it a compelling location to work and live. One of its key economic strengths is that it doesn’t have to rely on only one industry,” says Tom Walker, co-head of global real estate at Schroders. “The technology sector, in particular, has grown substantially over the past few years, and this has not only boosted demand for office space but also for residential property, much of it due to the increased hiring of Millennials.”
American cities are dominating the index, taking 18 of the top 30 places and four of the top five places. Read the complete story at Forbes.com.