New York’s Most Exclusive Penthouses Are Surprisingly Hard To Get

NEW YORK, March 1, 2015 / PRNewswire — New York City is not only America’s largest city but also a capital for many industries, such as finance, fashion, publishing and advertising just to name a few. As a result, it attracts top talent and many of the wealthy individuals that control these industries.

Even investors with global holdings usually own at least one high-end property in New York, simply because it is a status symbol among the global elite. “While in many other cities you simply write a check to get an apartment, buying a top property in New York requires the right connections”, explains Thomas Guss, President of one of New York’s top brokerage firms, New York Residence Inc.

All owners of a building usually elect a board whose members decide if a prospective buyer is allowed to purchase an apartment there. Guss, president of such a board himself, knows what boards are looking for: “It is not only about money but many buildings want to see the right social background too.” As a result, a Manhattan address on Park Avenue, Fifth Avenue or around Central Park becomes a prized possession.

New York Residence Inc. is a high-end brokerage firm that incorporates elements of a private bank – many of the world’s wealthiest investors are represented by the company. “We know which properties might be a good fit for a specific client,” says Neil Foresto, a Senior Vice President of New York Residence. Location and specific features of the home are of course the buyer’s choice – from sweeping views to private terraces, from hotel-style services to elegant lounges, fitness areas and swimming pools, a buyer has a wide range of choices.

Some buyers prefer privacy and surprisingly there are several high-end options with a low public profile available. For the right client, even an anonymous purchase is possible, an option often preferred by the truly wealthy for security reasons.

No wonder that New York sees an increasing volume of investment from the UAE, from both private and institutional investors. New York Residence participates at the International Property Show in Dubai from March 30 to April 1 at the Dubai World Trade Center. Interested investors are welcome to discuss purchase opportunities in New York at the property show with Thomas Guss, Neil Foresto, and, for meetings in Arabic language, Aurora Azar. An appointment well worth making!

CONTACT: Thomas Guss, +1-212-360-7000 x103
TG@NYR.com

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