Luxury Developments Bring Trophy Homes Downtown

by | Jul 25, 2017 | Real Estate

For some time now, luxury home buyers have been taking their searches Downtown. Luxury apartments, or “trophy” homes, are no longer solely centralized around ares like Central Park and the Upper East Side. Downtown has become, over the years, a new it location.

“Generally, trophy properties are those that feature exceptional qualities of architecture, design, lifestyle amenities, location and views,” said Emily Sertic, a Douglas Elliman agent. “In New York, even as Downtown Manhattan greatly expands its collection of trophy properties, the percentage of homes with all of these characteristics is limited.”

Continuing to usher in this trend of the Downtown trophy home is the Witkoff Group who, along with Fisher Brothers and New Valley, is currently developing a new luxury residential tower. Upon completion, this 54-story glass skyscraper at 111 Murray in TriBeCa will play home to 145 luxury condos. It’s shaping up to be one of Downtown’s tallest and most prominent residential buildings.

It’s properties like this one at 111 Murray that bring buyers Downtown to experience luxurious amenities, shopping, dining and all the best this area has to offer. Destinations like Brookfield Place beckon both visitors and permanent residents.

“Brookfield Place has established itself as a major ‘Downtown destination’ and valued neighborhood amenity with global retailers such as Saks Fifth Avenue, Hermes, Gucci and Bottega Veneta, not to mention world class dining from restaurants like Sant Ambroeus, which recently announced plans to open in 2018,” Sertic said.

111 Murray is already seventy percent sold.

Sertic has witnessed the migration Downtown since its inception. She’s now director of sales at 111 Murray, after experiencing a slew of buyers wanting to head south.

“We’ve seen a new audience of buyers who, before the retail and dining additions, would not have made this move previously,” Sertic said. “Now these types of buyers are also swayed by major art institutions like The Whitney, the highly anticipated Performing Arts Centre at the World Trade Center and the advent of the High Line which essentially integrates many of Downtown’s most popular neighborhoods.”

The development at 111 Murray is to be 433,800 square feet. The condos will offer spectacular Manhattan views, including a stunning proximity to the Freedom Tower, a preview of which can be viewed here. The development’s website also offers a map of TriBeCa’s hottest spots, including restaurants, stores, schools and hotels.

For more information about this development, visit 111 Murray. And if you’re interested in learning more about other luxury Downtown developments like 150 Charles and 10 Madison Square, visit Witkoff’s website.

Photos courtesy of 111 Murray

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