_Live in luxury: experience unparalleled views and exceptional design in this 3 bedroom New York home
New York’s property market remains a top investment choice for those seeking an inflation hedge in a global and transparent market, according to Knight Frank’s latest New York Market Insight report.
Amid the uncertainty and volatility of global financial markets, New York's steady property price growth, rising rents and low purchase costs are luring investors searching for an inflation hedge in a transparent market.
The luxury market in Manhattan, in particular, has remained strong despite the Federal Reserve's rate hikes and the pandemic's impact on other asset classes. 2022 saw New York retain its crown as the most active super-prime property market globally, with 244 sales of $10 million or more.
With cash buyers accounting for 80% of new home purchases in Manhattan, the market is better insulated from rate hikes. Sales rates remain robust, with over 14,500 properties changing hands in Manhattan in 2022, a 23% increase from 2019 pre-pandemic levels.
For sale: 3 bedroom residence at 277 Fifth Avenue
Guide price: $9,995,000
Amid this favourable market environment, an exceptional 3 bedroom, 3 bathroom home is for sale in the heart of NoMad, at 277 Fifth Avenue. At 55 storeys, it's Manhattan's tallest residential building, designed by acclaimed architect Rafael Viñoly who sadly died earlier this month.
The up-and-coming neighbourhood sits just north of Madison Square Park. It's long been a popular area for fashionable bars, shops and restaurants, but recent years have seen several luxury residential buildings emerge.
This property, located on the 48th floor, offers exceptional views of the city skyline to the north, south, and east, which can be enjoyed from its 20 ft floor-to-ceiling windows and large terrace.
The interiors, designed by renowned studio Jeffrey Beers, are of the highest standard. The kitchen features a central waterfall island, Calacatta Saccheli polished marble, and stainless steel-finished Miele appliances.
The bedrooms feel sleek yet homely, with each having its own en suite bathroom with underfloor heating, marble slab counters with waterfall sides, and bathtubs. The principal suite has the added bonus of a generous walk-in wardrobe, while a separate jewel box powder room offers ultimate convenience for guests.
Meanwhile, the amenities at 277 Fifth Avenue are designed to complement life in this thriving neighbourhood. Residents have access to a lobby-level library, an entertaining suite, a private dining room, a children’s playroom, a gaming lounge, full-service staff, a landscaped terrace and state of the art fitness centre.
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