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Milan Real Estate Market Continues Upward Trajectory in 2025: Prices Reach €5,500 per Square Meter

By Columbus International,

Milan’s real estate market is demonstrating remarkable resilience and growth in 2025, with property prices continuing their upward trend to reach an average of €5,500 per square meter. This price point represents a significant milestone in the city’s ongoing transformation into one of Europe’s most sought-after property markets.

Sustained Growth in a Dynamic City

The continued price appreciation in Milan reflects the city’s enduring appeal as Italy’s financial and fashion capital. Despite global economic fluctuations, Milan has managed to maintain investor confidence through its strong economic fundamentals, cultural significance, and strategic importance in the European business landscape.

Real estate analysts attribute this sustained growth to several key factors, including limited housing supply in desirable central districts, ongoing urban regeneration projects, and Milan’s enhanced international profile following successful events like the 2026 Winter Olympics preparations.

Investment Trends Across Italy

Italians continue to view real estate as a solid investment vehicle. According to a study by Gruppo Tecnocasa’s research office, 19% of property purchases throughout Italy in 2024 were made specifically for investment purposes. While this figure represents a slight decrease from the previous year, it still indicates strong confidence in the “mattone” (brick) as a reliable asset class.

Within this national context, Milan remains a top destination for investment purchases, with 28.2% of all transactions in the city during 2024 classified as investment properties—homes purchased specifically to generate rental income. However, in the national ranking of investment-focused markets, Milan does not hold the top position. Naples leads the country with 39% of transactions being investment purchases, followed by Palermo (36%), Verona (32.2%), and Bari (30.5%).

Preferred Property Types and Investor Profiles

The two-bedroom apartment (bilocale) remains the most sought-after property type for investment purposes across Italy. In 2024, these units accounted for 32.5% of all investment purchases nationwide, followed by three-room apartments (trilocali) at 27.4%. Notably, there has been an increase in purchases of larger properties as well.

The typical real estate investor in Italy is someone who already owns their primary residence. The most active age group in this market segment is 45-54 years (27.7% of investors), followed by 35-44 years (22.6%) and 55-64 years (21.8%). Couples and families dominate the investment market, accounting for 72% of purchases, while singles represent less than 30%. Perhaps most significantly, 86% of investment property purchases are made in cash, without requiring mortgage financing.

District Variations and Investment Hotspots

While the €5,500 per square meter represents an average across the city, prices vary significantly between neighborhoods. Premium locations such as Brera, Porta Nuova, and the Quadrilatero della Moda command substantially higher prices, often exceeding €10,000 per square meter for luxury properties.

Meanwhile, emerging districts like NoLo (North of Loreto), Isola, and areas surrounding the Scalo Farini redevelopment project are experiencing the most dynamic price growth as they undergo gentrification and attract younger professionals and families.

Market Dynamics and Buyer Profiles

The buyer landscape in Milan has evolved notably in recent years. International investors continue to view the city as a safe haven for capital, while domestic buyers increasingly prioritize energy-efficient homes with outdoor spaces—a trend accelerated during the pandemic years that shows no signs of reversing.

The luxury segment remains particularly robust, with high-net-worth individuals from across Europe, the Middle East, and Asia seeking trophy assets in Italy’s most cosmopolitan city. Simultaneously, the growing presence of international companies establishing or expanding their Italian headquarters in Milan has fueled demand in the premium rental market.

Future Outlook and Challenges

While the market continues to perform strongly, challenges loom on the horizon. Affordability concerns are mounting as local incomes struggle to keep pace with property price appreciation. This discrepancy has prompted discussions among city officials about potential measures to increase housing accessibility for Milan residents.

Additionally, interest rate policies at the European level could influence mortgage affordability and potentially moderate price growth in the coming years. However, most market observers expect Milan’s property prices to continue their upward trajectory, albeit potentially at a more moderate pace.

The city’s commitment to sustainability and smart urban development, exemplified by projects like MIND (Milano Innovation District) and the ongoing regeneration of former industrial areas, is expected to create new investment opportunities while addressing some of the supply constraints that have contributed to rising prices.

For investors and homebuyers alike, Milan’s real estate market in 2025 presents both opportunities and challenges, requiring careful consideration of location, property type, and long-term objectives in a city that continues to reinvent itself while honoring its historic character.

Source: Repubblica 

Florence’s New Short-Term Rental Regulations: A Strategic Opportunity For Quality-Focused Real Estate Investors

By Columbus International,

Florence is implementing a structured approach to its valuable vacation rental market that signals maturity rather than constraint for strategic investors. Mayor Sara Funaro and Economic Development and Tourism Councilor Jacopo Vicini recently unveiled a comprehensive set of regulations for short-term rentals that will reshape the market dynamics in one of Italy’s premier tourist destinations.

Market Standardization Creates Premium Segment Opportunities

The new regulatory framework, which awaits final approval from the City Council, establishes clear quality standards that effectively create a premium segment within Florence’s short-term rental market. By mandating minimum unit sizes, safety equipment requirements, and standardized guest communications, the regulations effectively elevate the entire market toward a higher-quality product offering.

For property investors with professional management capabilities, these changes represent a significant opportunity to differentiate their offerings in an increasingly standardized marketplace. Properties that meet or exceed the new requirements will likely command premium pricing in a market where substandard inventory will be systematically removed.

Strategic Inventory Improvements Enhance Portfolio Value

Under the new regulations, rental units must meet specific minimum dimensions, with bedrooms requiring at least 9 square meters for single occupancy and 14 square meters for double occupancy. Kitchen, bathroom, and overall apartment specifications are similarly defined, with a minimum overall unit size of 28 square meters.

These standards will likely trigger inventory improvements across the market as owners upgrade their properties to comply with the new requirements. For institutional investors and property portfolios, this represents an opportunity to implement value-adding renovation strategies that will position assets favorably in the evolving marketplace.

Enhanced Enforcement Creates Market Stability

The municipality’s establishment of a dedicated Municipal Police task force focused exclusively on short-term rental compliance signals a commitment to market stability that benefits professional operators. With penalties ranging from €1,000 to €10,000 for non-compliance, the economic incentive for professionalization of the sector is substantial.

This enforcement mechanism addresses a common concern in mature short-term rental markets: the uneven playing field created by operators who bypass regulations. By ensuring all market participants adhere to the same standards, Florence is creating a more predictable operating environment that favors professional management approaches.

UNESCO Zone Protection Preserves Long-Term Value

The reconfirmation of rental restrictions in Florence’s UNESCO World Heritage zone demonstrates the city’s commitment to preserving the historic center’s character and residential balance. Rather than viewing this as a limitation, forward-thinking investors recognize that these protections maintain the very qualities that make Florence properties valuable in the first place.

Properties within the UNESCO zone that already have rental permissions will likely see their value increase, while areas immediately outside these boundaries may present new opportunities for investors seeking entry points into this regulated market.

Data-Driven Future Planning Reduces Investment Risk

Perhaps most promising for sophisticated investors is the city’s partnership with Sapienza University of Rome to conduct comprehensive research on neighborhood dynamics both within and outside the UNESCO zone. This data-driven approach to future regulation reduces policy uncertainty—a key risk factor in real estate investment—by establishing transparent methodologies for decision-making.

Investors who align their acquisition and management strategies with these emerging standards can position themselves advantageously as the market evolves toward greater professionalization and quality standards.

The Bottom Line

Florence’s new short-term rental regulations signal the market’s evolution toward a more mature, professionally managed sector rather than an attempt to curtail it. For investors focused on quality assets and professional management, these changes create strategic opportunities to establish market leadership in one of Europe’s most enduringly attractive tourist destinations.

The emphasis on property standards, safety measures, and neighborhood preservation ultimately protects the very qualities that make Florence real estate a compelling long-term investment. Strategic investors who embrace these regulatory developments as a framework for quality improvement will likely find themselves well-positioned in this evolving marketplace.

Source: Repubblica | Idealista 

Miami’s Italian Renaissance: Inside The City’s Most Influential Culinary Destinations

By Columbus International,

A new wave of Italian fine dining is reshaping Miami’s gastronomic landscape, delivering significant economic impact to the region’s luxury hospitality sector. According to a recent report from Eater, Miami’s “love affair with Italian food” has evolved into a “full-blown obsession,” with establishments ranging from upscale dining venues to innovative fusion concepts capitalizing on the sustained demand.

This trend represents more than mere culinary preference—it reflects a strategic market response to affluent diners seeking sophisticated experiences that blend traditional European sensibilities with Miami’s distinctive cultural identity. The following establishments exemplify how this segment continues to drive premium hospitality growth in South Florida.

Investment-Worthy Destinations

Fiola Miami has established itself as a cornerstone of Coral Gables’ high-end dining market with an operational model focused on luxury ingredients and meticulous presentation. The establishment’s investment in premium offerings, including an extensive caviar program and signature dishes like lobster ravioli, has created sustainable competitive advantage in the upscale segment. The venue’s curated wine program serves as an additional revenue driver, particularly appealing to clientele celebrating significant occasions.

In contrast, Pasta demonstrates the market potential of chef-driven concepts with international backing. Founded by Peruvian culinary entrepreneurs Juan Manuel Umbert and Janice Buraschi, who successfully replicated their Lima business model in Miami, the concept delivers value through fusion innovation. Their menu leverages cross-cultural culinary trends, featuring strategic pairings like razor clams with ‘nduja and salsa verde that deliver differentiated value to sophisticated diners seeking novel flavor profiles.

Specialized Market Positioning

Cotoletta exemplifies effective niche market strategy, focusing exclusively on the Milanese veal cutlet tradition. The establishment’s $80 prix fixe menu for two represents a calculated pricing model that delivers predictable margins while streamlining operational complexity. This specialist approach demonstrates how narrowly focused concepts can capture market share through expertise differentiation rather than menu diversity.

Established Market Leaders

Luca Osteria has leveraged location advantage on Giralda Avenue’s pedestrian corridor, while Zucca has built sustainable business through hotel integration at the St. Michel in Coral Gables. Both establishments demonstrate how strategic positioning within existing hospitality infrastructure can provide customer acquisition advantages and operational efficiencies.

Felice Brickell represents successful market expansion of established brands, bringing NYC’s Tuscan dining experience to Miami’s financial district. Under executive chefs Roberto Consiglio and Luigi Bailon, the operation has adapted its northern Italian concept to South Florida’s consumer preferences while maintaining brand integrity. Their vertical integration extends to founder Jacopo Giustiniani’s vineyard, creating supply chain advantages and exclusive product offerings.

Innovation Leadership

Perhaps most indicative of Miami’s growing significance in the global culinary marketplace is Torno Subito Miami, representing acclaimed chef Massimo Bottura’s strategic expansion into the Florida market. Located at downtown’s Julia & Henry’s rooftop development, this concept brings Michelin-star credibility to the local market while adapting to regional preferences through chef Bernardo Paladini’s execution. The operation has created additional value through strategic partnership with renowned NYC cocktail bar Dante, demonstrating how complementary brand collaborations can enhance revenue opportunities beyond core food offerings.

Market Outlook

The sustained growth of premium Italian concepts in Miami signals investor confidence in the region’s ability to support luxury hospitality ventures despite economic fluctuations. With established NYC operators and international culinary figures continuing to enter the market, this sector appears positioned for continued expansion, particularly in venues that effectively balance tradition with innovation.

As Eater reports, even “the most discerning nonna would approve” of these establishments, suggesting that authenticity remains a core value proposition despite the evolution of presentation and technique. For investors and operators in Miami’s hospitality sector, Italian cuisine continues to offer compelling opportunities for market differentiation and premium positioning.

What We Loved About Milan’s Brera Design Week: The Standout Installations That Defined Luxury Innovation

By Columbus International,

In the competitive landscape of global design events, Milan’s Brera Design District once again demonstrated why it remains the premier destination for both established luxury brands and emerging creative talent. With 237 official events and numerous satellite presentations, as reported by Living Corriere, this year’s edition delivered exceptional return on investment for both participants and visitors seeking inspiration at the intersection of craftsmanship, technology, and luxury experience.

Strategic Brand Positioning Through Immersive Environments

The most successful luxury brands leveraged historic venues to create memorable brand experiences that transcended traditional product displays. Hermès exemplified this approach at La Pelota with an ethereal installation by Charlotte Macaux Perelman, the brand’s artistic co-director for home collections. The suspended luminous structures created a labyrinth effect, strategically positioning the French luxury house as an innovator in spatial design beyond its product offerings.

Gucci’s “Bamboo Encounters” at the 16th-century Cloisters of San Simpliciano demonstrated effective heritage marketing by connecting its iconic 1947 Bamboo bag to contemporary interpretations of the sustainable material. The exhibition, curated by 2050+, featured seven commissioned projects from diverse international designers including Anton Alvarez, Dima Srouji, and Nathalie Du Pasquier. This strategic integration of brand heritage with forward-looking sustainability narratives exemplifies luxury’s current balancing act between tradition and innovation.

Exclusivity Through Access: The Luxury of Limited Availability

According to Living Corriere, this year’s Design Week continued the tradition of providing access to typically restricted venues—a significant driver of exclusivity value in the experience economy. The Sant’Angelo Cloister, where Flexform presented Antonio Citterio’s outdoor collection, created perceived value through both product display and the privilege of accessing a normally private historic space.

Similarly, Australian luxury skincare brand Aēsop demonstrated market differentiation by creating a multisensory installation in the normally inaccessible sacristy of the Church of Carmine. The brand effectively extended its olfactory identity into spatial design, using its Eleos Aromatique hand balm as an architectural finish that emanated woody and herbaceous notes throughout the space.

Investment in Cultural Capital: The Es Devlin Effect

Perhaps the most significant investment in cultural programming came from Salone del Mobile with Es Devlin’s “Library of Light” installation in the Courtyard of Honor at the Pinacoteca di Brera. The 18-meter diameter circular structure, containing over 2,000 volumes on rotating luminous shelves, represents the type of large-scale cultural investment that generates substantial earned media and visitor engagement.

The installation’s sophisticated integration with the historic architecture—functioning as a sundial that illuminates previously unlit portions of the 17th-century courtyard—exemplifies how design week installations have evolved from simple product displays to complex cultural interventions with lasting impact. Living Corriere notes the installation will remain accessible until April 21, 2025, extending the event’s influence beyond the traditional design week calendar.

Market Expansion Through Strategic Showroom Launches

Tacchini’s first Milan showroom opening in Largo Treves 5 demonstrated effective market positioning, creating a residential atmosphere that blurred the line between retail and hospitality environments. The presence of design luminaries like Tobia Scarpa, who supervised the re-edition of his 1975 Africa chair, and Faye Toogood arranging cushions on her Butter sofa, added authentic narrative value to the brand experience.

This “home open to friends” concept signals a shift in how design brands are approaching physical retail in the post-pandemic marketplace—emphasizing personal connection and lifestyle integration over traditional product display.

The Bottom Line

The most successful presentations at this year’s Brera Design District shared a common approach: leveraging the distinct cultural capital of Milan’s historic spaces while creating forward-looking installations that position brands for future market relevance. As luxury continues to shift toward experience over acquisition, these strategic investments in cultural programming and immersive environments provide significant competitive advantage in an increasingly crowded global design marketplace.

The Frick Collection Returns: Inside The Iconic Art Institution’s Elegant Transformation

By Columbus International,

One of New York’s most distinguished cultural landmarks is poised to reclaim its position in Manhattan’s competitive museum landscape. After a five-year closure for an ambitious renovation and expansion project, the Frick Collection will officially welcome visitors back to its historic Beaux Arts mansion on April 17, according to a recent report by Vogue.

The strategic renovation, executed by Selldorf Architects under Annabelle Selldorf’s direction with collaboration from Beyer Blinder Belle, represents a significant investment in cultural infrastructure. The project has increased the museum’s footprint by a precise 10%, bringing its total area to 196,000 square feet and substantially expanding its exhibition capabilities.

In an interview with Vogue contributing editor Dodie Kazanjian, former Frick director Ian Wardropper outlined the guiding philosophy behind the renovation: “to create a beautiful space that would harmonize with what was there before. We genuinely hope that you need to pause and ask yourself what’s new and what’s old.”

This meticulous approach to architectural integration maintains the Frick’s competitive advantage in the cultural sector – its intimate atmosphere and unique residential character. The institution has preserved its most celebrated gallery spaces intact, including the Garden Court, the West Gallery, and the Oval Room, while updating practical elements such as wall coverings and skylights.

During the renovation period, the collection maintained market presence through a temporary installation at the Marcel Breuer building on 75th Street and Madison Avenue. Operating as the Frick Madison from March 2021 through March 2024, this interim arrangement allowed the institution to maintain visitor engagement while exploring alternative presentation models for its collection.

The reopening strategy includes a phased approach to audience reintroduction. Members will receive prioritized access during exclusive preview days from April 9 to April 13, delivering enhanced value for the museum’s most loyal supporters before public admission begins.

Among the operational enhancements, the renovation introduces a new connecting passageway linking the James S. and Barbara N. Reibe Reception Hall with the library facilities, improving visitor circulation throughout the complex – a practical upgrade that addresses previous logistical challenges.

The Frick’s reopening positions the institution for sustainable growth in a competitive cultural market, demonstrating how historic institutions can successfully modernize their infrastructure while preserving the distinctive character that underpins their brand equity and visitor appeal.

Lionel Messi Expands Miami Real Estate Portfolio with Four New Luxury Residences

By Columbus International,

Soccer superstar Lionel Messi is making significant moves in South Florida’s premium real estate market, according to a recent report from the New York Post.

The Argentine forward, who joined Inter Miami in 2023, has reportedly entered an agreement to purchase four residences in the upscale Cipriani Residences Miami, an 80-story luxury development by Mast Capital currently under construction.

Sources familiar with the transaction told the Wall Street Journal that one of Messi’s acquisitions is a four-bedroom unit spanning approximately 3,500 square feet, with a price of around $7.5 million. Details about the other three units have not been disclosed.

This latest investment adds to the 37-year-old athlete’s already substantial real estate holdings in the region. According to public records cited by the New York Post, Messi’s portfolio includes a $10.75 million waterfront estate in Fort Lauderdale and multiple condominiums in Miami’s Porsche Design Tower.

The Cipriani Residences project, which began sales in 2022, is scheduled for completion in 2028. Future residents will enjoy premium amenities including two swimming pools, a private dining venue, a speakeasy-style lounge, and comprehensive catering services. Fortune Development Sales is managing the marketing for this development, which is capitalizing on Miami’s strong demand for new luxury properties.

Miami’s condominium market currently shows a distinct division between new and established properties. While newly constructed developments like the Cipriani Residences are experiencing strong buyer interest, older buildings face challenges with slower sales and increasing inventory. According to the Miami Association of Realtors, median prices for condominiums and townhouses increased by 8% in February compared to the previous year, highlighting the continued strength in the luxury segment of the market.

Fonte: New York Post

Mercato immobiliare Stati Uniti

Trump’s Tariff Turmoil May Boost Luxury Real Estate As Investors Seek Stability

By Columbus International,

As global markets reel from sweeping trade policies, high-end housing could become a safe haven for wealth preservation

President Donald Trump’s sweeping new tariffs on imported goods from 60 countries have plunged global stock markets into turmoil, sparking recession fears. Yet this controversial trade policy could unexpectedly benefit the luxury real estate market.

https://www.youtube.com/shorts/54Gx6xDtrts

Stock market performance typically has an outsized impact on high-end home buyers, who are more likely to invest in stocks than their less wealthy counterparts. As of April 6, the S&P 500 had tumbled by 15% since Trump’s inauguration in late January, according to CNN, amid growing economic uncertainty. Following his tariff rollout on April 2, which the president touted as “Liberation Day,” stock markets worldwide suffered an estimated loss of about $10 trillion in market value.

Days of volatile trading ensued as China retaliated with 84% tariffs on U.S. goods. On April 9, the European Union approved new levies of its own on $23 billion in U.S.-made products, according to Reuters. Trump then responded by pausing all new tariffs for 90 days, with the notable exception of China, against whom he increased tariffs to 125%.

Market Volatility Creates Real Estate Opportunity

Despite the economic turbulence, a potential silver lining exists. This market volatility could prompt jittery investors to shift from stocks to high-end real estate “as they seek the reliability of a tangible asset,” Realtor.com® Chief Economist Danielle Hale predicts in her 2025 Luxury Housing Market Outlook.

“In an economic environment riddled with uncertainty, investors are seeking out safe havens. For many, this is found in bonds, but real estate may be an alternative for some,” says Hale. “While real estate can lose value, it is a tangible asset that not only provides shelter, it tends to have more stable pricing than stocks.”

Should Trump reverse course again and fully implement the tariffs as announced, Hale warns that could undermine economic growth, diminish incomes and investment returns, and shrink homebuyers’ purchasing power.

“For now, it looks like a reprieve has been issued for many countries, but as we’ve seen very clearly in the last few weeks, the situation can change, so it’s wise for high-end-home buyers to stay abreast of the news,” Hale notes.

High-End Real Estate: Room For Growth

For affluent house hunters, the good news is that the luxury real estate market has substantial room for expansion. The total value of domestic household real estate reached the second-highest level ever recorded at the end of 2024, according to a Realtor.com analysis, totaling $48.1 trillion—a 7% increase from the previous year. Notably, the largest gains in real estate value were among the ultrarich.

Even so, real estate comprised just 18.7% of total assets among the wealthiest 10% of U.S. households, down from just under 20% two years prior. Meanwhile, corporate equities—including futures and other financial instruments, as well as mutual fund shares—made up more than a third of their assets, the highest share ever recorded.

Simply put, real estate constituted a smaller portion of affluent portfolios late last year, signaling significant growth potential in the high-end housing market.

“The combination of significant stock market wealth and relatively low debt in real estate among the wealthiest 10% suggests that this cohort has more capacity for real estate investment,” says Hale.

The Realtor.com economist cautions that real estate carries its own challenges, including property taxes, insurance costs, maintenance, and upkeep. “Still, real estate can be a place to park money, and when the world feels uncertain, we often see an interest in home and real estate purchases,” Hale adds.

Russian Buyers Return To American Luxury Market

The appeal of U.S. luxury housing has apparently not been lost on wealthy Russians, who have reportedly resumed purchasing expensive properties in New York City after a decade-long pause.

“I’ve had five Russians look at properties in the $10 million to $20 million range in the past few weeks—condos and town houses,” a New York broker told Air Mail.

The shift, according to the unnamed broker, relates to Trump’s relationship with Russian President Vladimir Putin, whom he previously praised as a “genius” and “savvy” before relations cooled over the proposed Ukraine peace deal. Nevertheless, the evolving relationship between the two leaders has seemingly done little to diminish wealthy Russians’ homeownership ambitions in the United States.

“They aren’t afraid to buy anymore,” the broker told the outlet about the incoming Eastern European investors.

This renewed interest appears linked to the Trump administration’s more welcoming stance toward Russian oligarchs compared to its Democratic predecessor. While sanctions against Putin’s government and Russian companies remain in effect, the current Justice Department has eliminated units that investigated questionably sourced money invested in real estate and luxury assets.

A Douglas Elliman broker told Air Mail that her Russian clients currently living in Monaco are eager to purchase U.S. real estate, citing the value they place on American education and high-quality new construction.

Luxury Housing Market Performance

Data from the National Association of Realtors® indicates that the $1 million-plus category of homes has been the fastest-growing sales share for 21 consecutive months and now constitutes 7.6% of recent home sales. The primary reason: affluent homebuyers more frequently have substantial existing equity and don’t need to rely on mortgage financing, making them less sensitive to high interest rates.

However, the number of for-sale homes priced above $1 million has decreased, representing an average of 12.8% of all listings year-to-date in 2025, down from 13.6% in 2024.

Time on market for luxury listings decreased slightly from 76 to 75 days, even as homes priced below $1 million remained unsold for 64 days, up from 58 the year before. Additionally, price cuts have increased from 20.8% to 22.6% among homes with asking prices below $1 million, but remained approximately flat among luxury properties.

As global markets navigate the uncertain waters of new trade policies, the luxury real estate sector may emerge not only resilient but strengthened, providing both shelter and financial stability for those with the means to invest.

Source for both the English and Italian version of the article: Realtor

NYC’s New Price Champion: The $110 Million Quadplex in the World’s Skinniest Tower

By Columbus International,

A new listing in Manhattan’s iconic Steinway Tower becomes the city’s priciest home on the market

In a city known for architectural superlatives and eye-watering real estate prices, a new champion has emerged. A spectacular four-level penthouse in Manhattan’s needle-like Steinway Tower has just hit the market for $110 million, making it the most expensive home currently for sale in New York City.

The Ultimate Billionaires’ Row Address

Located at 111 W. 57th St. on the exclusive stretch known as Billionaires’ Row, this extraordinary “quadplex” spans the 80th through 83rd floors of what is officially the world’s skinniest skyscraper. The property, listed Thursday according to StreetEasy, offers 11,480 square feet of interior space along with 618 square feet of outdoor terraces.

What makes Steinway Tower particularly remarkable is its slenderness ratio of 1:24, meaning it’s 24 times taller than it is wide—a feat of engineering that earned it the title of world’s skinniest skyscraper. For comparison, the Empire State Building has a slenderness ratio of just 1:3. The tower’s distinctive pinnacle, resembling a feather, has become an instantly recognizable addition to the Manhattan skyline since the building opened in 2022.

A Blank Canvas for the Ultra-Wealthy

The vacant penthouse currently features five bedrooms and six full bathrooms, with soaring 14-foot ceilings and floor-to-ceiling windows that provide panoramic views of the city. Studio Sofield designed the suggested floor plan, but notably, the $110 million asking price includes a complete buildout and redesign according to the buyer’s specifications.

Each floor serves a distinct purpose in the current layout:

  • The first level (80th floor) contains a grand entry hall and south-facing kitchen with terrace access
  • The second level houses four ensuite bedrooms, a lounge area, and wet bar
  • The third level is dedicated to a massive 2,800-square-foot primary suite with dual bathrooms clad in gray and white onyx
  • The fourth level “crown suite” is designed for entertaining, featuring a bar, private screening room, service kitchen, and outdoor terrace

A Rarified Market Segment

True quadplexes are exceedingly rare in Manhattan. The most notable comparable property is hedge fund billionaire Ken Griffin’s approximately $238 million quadplex at 220 Central Park South, purchased in 2019—a deal that still holds the record for the most expensive home ever sold in the United States.

Lead listing broker Nikki Field of Sotheby’s International Realty explained to Bloomberg that the Steinway Tower penthouse was originally configured as two separate duplexes before the decision was made to combine them into this unprecedented offering.

Timing the Ultra-Luxury Market

The listing emerges as Manhattan’s ultra-luxury market experiences a significant uptick amid limited inventory. Previously, neighboring Central Park Tower held the title of most expensive listing with units priced at $250 million (later reduced to $195 million) and $150 million, but neither remains on the market today.

Steinway Tower itself has seen a remarkable sales resurgence. Since Nikki Field’s team at Sotheby’s took over marketing in summer 2024, the building has been “rebranded, repriced and restaffed,” resulting in $187 million in contracts currently in progress, including eight deals signed this year alone. Among those is Penthouse 72, which commanded $56 million.

“I’m looking for Jeff Bezos 2.0 at 111,” Field told The Post, referencing her previous sale to the Amazon founder at 212 Fifth Avenue.

The launch of Penthouse 80 represents a vote of confidence in the tower’s sales momentum after a challenging beginning. Despite initial sluggish sales following its 2022 opening, Field indicated to Bloomberg that the penthouse was strategically held back until market conditions improved.

“This very healthy luxury spring market,” Field said. “We had no excuses to delay the launch.”

The Developers Behind the Tower

Steinway Tower was developed through a collaboration between JDS Development Group, Property Markets Group, and Apollo Commercial Real Estate Finance. With 59 total units, each occupying at least one full floor, the building stands as the second-tallest residential tower in the United States.

As Manhattan’s luxury real estate market continues its strong performance in early 2025, all eyes will be on whether this architectural marvel’s crown jewel can secure its $110 million asking price—and perhaps on which billionaire might soon call it home.

Source: New York Post
Il caso Madison Avenue

Better Than Billionaires’ Row? Why NYC’s Top Developers Are All-In On A Tiny Patch Of Madison Avenue

By Columbus International,

INTERNATIONAL REAL ESTATE ADVISORY

With prestigious offices in New York, Miami, Milan, and Florence, Columbus International offers unparalleled expertise in international real estate investments. Contact our expert agents today to explore exceptional opportunities across both continents: info@columbusintl.com

The following analysis is provided as market intelligence for investors considering opportunities in Manhattan’s evolving luxury real estate landscape. Columbus International maintains connections with premier developers across global financial centers and offers bespoke investment advisory tailored to high-net-worth individuals seeking cross-continental portfolio diversification.

Manhattan’s ultra-luxury real estate chess match has entered a new phase. The city’s most influential developers are executing calculated moves on a concentrated five-block stretch of Madison Avenue, positioning this micro-district as New York’s next pinnacle of high-end real estate—a strategic play that could redefine the upper echelons of the market.

  • Elite developers Extell and Related are concentrating unprecedented capital on Madison Avenue’s five-block corridor, orchestrating the Plaza District’s transformation into Manhattan’s next dominant luxury and financial nucleus.
  • The development pipeline features a sophisticated blend of ultra-premium condominiums, flagship retail destinations, and Class A+ office space, with luxury conglomerates like Prada, Kering, Chanel, and financial titan JPMorgan securing strategic positions.
  • Price metrics reveal market confidence: new residential offerings commanding upwards of $8,000 per square foot position this corridor as the destination of choice for ultra-high-net-worth investors and residents.

The Billion-Dollar Micro-Market

The five-block radius spanning Madison Avenue from 57th to 61st Streets is experiencing a strategic development intensification unprecedented in recent Manhattan history, according to market analysis from Bisnow. Anchored by meticulously planned ultra-luxury developments from market leaders Extell Development and Related Companies, market indicators suggest this corridor could soon eclipse the established Billionaires’ Row in both prestige metrics and price-per-square-foot benchmarks.

This focused investment wave is catalyzing a $15-20 billion transformation of the broader Plaza District, historically a cornerstone of Manhattan’s corporate and luxury retail infrastructure. The district’s unique geographical advantages—Central Park adjacency combined with Fifth Avenue retail proximity—have created ideal conditions for this new influx of global capital and ultra-high-net-worth residents.

Strategic Assets Under Development

The transformation centers around three pivotal properties:

  • 655 Madison Avenue: Extell Development has initiated demolition of a 200,000-square-foot tower and four adjacent structures to create a site for a proposed 37-story mixed-use development. While current plans incorporate hotel, retail, office, and residential components, market sources indicate potential for a more ambitious supertall structure, positioning the property as a cornerstone asset in the corridor.
  • 625 Madison Avenue: Related Companies is replacing its former corporate headquarters with a 68-story supertall featuring 101 ultra-luxury residential units complemented by premium amenities and flagship retail space. The development timeline projects completion by 2032, establishing a long-term market presence.
  • 660 Madison Avenue: The former Barneys New York flagship location remains strategically vacant under Ashkenazy Acquisition’s ownership. Market analysis suggests the firm is positioning for either a premier luxury retail tenant or potentially developing a competitive offering to challenge Extell and Related’s projects across Madison Avenue.

Luxury Ecosystem Consolidation

The development acceleration follows strategic moves by luxury retail conglomerates. Late 2023 saw Prada and Kering execute approximately $2 billion in property acquisitions on adjacent Fifth Avenue parcels, while Chanel and LVMH continue competitive positioning for nearby locations. Rolex is developing a 28-story corporate headquarters, and Dior is creating a seven-floor flagship complete with spa facilities within LVMH’s East 57th Street tower.

This luxury retail concentration coincides with exceptionally tight office market conditions along Park Avenue, where financial institutions including Citadel, JPMorgan, and leading private equity firms are securing premium space at rates exceeding $150 per square foot—creating a density of high-income professionals unmatched elsewhere in the city.

The corridor’s inherent advantages stem from its established luxury infrastructure, with existing high-end retail, culinary destinations, and cultural assets creating an environment that appeals to discerning ultra-wealthy residents and companies. Unlike emerging luxury districts requiring complete ecosystem development, Madison Avenue offers developers the opportunity to enhance an already prestigious neighborhood with vertical density and contemporary premium offerings.

Market Trajectory

As inventory constraints intensify and price benchmarks elevate, competitive dynamics are accelerating across developer, tenant, and buyer segments as stakeholders position to secure strategic assets within the corridor. The rapid pace of landmark property transfers and building repositioning indicates heightened market confidence in the district’s long-term premium valuation.

New residential developments are achieving record pricing metrics—with condominium offerings surpassing $8,000 per square foot—solidifying the corridor’s status as Manhattan’s premier destination for ultra-high-net-worth capital.

Investment Outlook

The transformation of this strategic Madison Avenue section represents a significant inflection point in New York’s evolving luxury real estate landscape. The concentration of development activity by established market leaders with proven luxury project execution indicates strong institutional confidence in the corridor’s potential as Manhattan’s next frontier for ultra-premium real estate.

While market analysis remains divided on whether this emerging district will complement or compete with established Billionaires’ Row properties, the scale of current investment commitments signals that leading developers are strategically reallocating capital to these five blocks of Madison Avenue—a calculated bet on Manhattan’s next luxury epicenter.

Source: Bisnow

The Hoxton to Open Second Italian Hotel in Florence

By Columbus International,

According to Monitor Immobiliare, the property on Via delle Mantellate in Florence, part of the Ricasoli fund managed by Kryalos Sgr, will soon house The Hoxton’s second Italian location. This development follows the successful launch of The Hoxton Rome in 2021, continuing the expansion of the English “open-house” hotel brand across Italy. Following extensive renovation work, the complex has been transformed into a boutique hotel featuring 161 rooms.

Paolo Bottelli, founder and CEO of Kryalos, stated: “The hotel industry continues to be a strategic asset class, especially in high-profile destinations like Florence, where international tourism drives constant demand for quality accommodations. We are excited to renew our collaboration with The Hoxton, after Rome, to breathe new life into this building, transforming it into a boutique hotel that combines contemporary hospitality with respect for the location’s history. The enhancement of iconic properties, preserving their identity and connection to the urban context, represents a fundamental principle in our investment approach.”

The arrival of The Hoxton in Florence underscores the continued appeal of Tuscany’s capital for international hospitality brands seeking to establish a presence in one of Italy’s most culturally significant and tourist-friendly cities. Located in a historic building on Via delle Mantellate, the hotel is poised to become a landmark destination for travelers seeking authentic yet contemporary accommodations in the heart of the Renaissance city.

Columbus International: Your Gateway to Premium Italian Real Estate

For investors seeking residential and commercial opportunities between the United States and Florence, the real estate agents at Columbus International represent an invaluable resource. Their deep knowledge of both markets positions them as the quintessential asset for international investors looking to navigate the complexities of cross-Atlantic real estate transactions.

Columbus International’s team of experienced professionals offers unparalleled expertise in the Florentine property market, providing investors with access to premium opportunities like The Hoxton project and other high-value developments in this historic city. Their comprehensive understanding of local regulations, market trends, and investment potential ensures that clients receive expert guidance throughout the entire acquisition process.

By bridging the gap between American investment capital and Florence’s prestigious real estate market, Columbus International continues to facilitate meaningful connections that benefit both investors and the local economy.

Key Highlights of Investing in Tuscany

Tuscany represents one of Italy’s most attractive regions for real estate investment, offering a unique combination of historical significance, natural beauty, and economic stability. Here are some key highlights for potential investors:

Strong Tourism Market

Tuscany attracts millions of visitors annually, making it an ideal location for hospitality investments. Cities like Florence, Siena, and Pisa maintain consistent tourism numbers throughout the year, ensuring steady income potential for hotel properties and short-term rentals.

Cultural Heritage Properties

The region offers unique opportunities to invest in historically significant buildings, many with protected status. These properties, like the one chosen by The Hoxton, often combine architectural importance with prime locations, making them excellent candidates for boutique hotels or luxury residential conversions.

Agricultural Estates and Vineyards

Tuscany’s renowned wine regions, including Chianti, Montalcino, and Montepulciano, present lucrative opportunities for agricultural investment. Vineyard estates combine income-generating potential with the prestige of owning iconic Tuscan landscapes.

Stable Property Values

Unlike more volatile markets, Tuscan real estate has demonstrated remarkable stability over time, with properties in prime locations consistently maintaining or increasing their value, even during economic downturns.

Renovation Opportunities

The region offers numerous historical properties ripe for restoration, allowing investors to create unique hospitality or residential spaces while preserving cultural heritage—often with available tax incentives for appropriate restoration work.

Expanding Infrastructure

Recent improvements in transportation networks, including high-speed rail connections and enhanced regional airports, have made Tuscany more accessible than ever, increasing property values in previously under-connected areas.

Columbus International’s agents specialize in identifying these premium investment opportunities throughout Tuscany, leveraging their extensive network and market knowledge to connect American investors with properties that align with their financial goals and personal preferences. Whether clients seek commercial ventures like The Hoxton’s expansion or residential properties in Florence’s historic center, Columbus International provides the expertise necessary to navigate Italy’s complex real estate landscape successfully.

Photo via The Hoxton / Instagram 


Columbus international

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