Simply Abu Dhabi Magazine XVII

2 5 9 S I M P LY A B U DH A B I B right lights, high fashion and great food have always given the seductive yet fast-paced city of New York global appeal. A central hub for international business, world- class education and a solid, stable economy has consistently made the Big Apple an attractive base for both domestic and foreign investors. But in the last couple of years the real estate market in NYC has experienced genuinely significant growth. While the skyline of this beautiful city takes on yet more stunning high- rise developments in her stride, it’s the sale price of these luxury condominiums that are making record highs. Not surprisingly, the pied-à-terre hub of Manhattan has been the focus for much of this expansion. According to a new year-end report compiled by CityRealty, 2014 proved to be the most expensive year ever for the residential property market, with an average $2.4 million sales price for condos in the area. Ironically, the number of units actually sold in 2014 was down on previous years, but the growth has come from an increase in the number of apartments sold with price tags over $10 million. 50West, a new 64-storey luxury residential tower rising in Lower Manhattan will, once completed in 2016, be one of the tallest residential towers in the city’s New Downtown area. Standing at approximately 780 feet and boasting a curved glass façade designed by world-renowned architect Helmut Jahn, each of the 191 residences will boast double-height living rooms and floor- to-ceiling panoramic views of New York Harbour, the Hudson River and the East River. Another key feature is the unique rooftop observatory located more than 700 feet in the air. “When people come to 50 West they are looking for luxury,” says sales manager Javier Lattanzio. “The apartments’ 10-20 ft ceilings give the feeling of living in a town house, which is hard to find in New York, and the four floors of high-end amenities mean residents can enjoy both opulence and convenience in their own home.”