immobiliare

New York Perspective: U.S. Housing Market Gains Momentum as Spring Arrives

By Columbus International,7 May 2025

National housing transactions surge 23% while New York region watches median prices reach $435,000

The traditional spring momentum in the U.S. residential real estate market has arrived with impressive force, according to the latest RE/MAX USA Market Housing Report. March data reveals a substantial 23% month-over-month increase in housing transactions across the 50 metropolitan areas analyzed, marking the largest monthly gain since March 2023’s 37.4% surge.

Market Fundamentals Strengthen, New York Investors Take Note

This sales acceleration comes amid growing inventory, with available homes for sale increasing 8% from February and a remarkable 35.5% year-over-year. New listings have played a critical role in this inventory expansion, jumping 29.8% from February and 7.9% compared to March 2024.

Meanwhile, the median home price reached $435,000 in March, representing a $8,000 increase (1.8%) from February and a $15,000 gain (3.5%) from the previous year. For New York-based real estate investors looking beyond the high-priced metropolitan area for yield opportunities, these national figures represent potential in markets with stronger growth trajectories and lower entry points.

“The arrival of spring, traditionally the most active season for real estate, coupled with increased sales and inventory, could drive further market acceleration,” notes Erik Carlson, CEO of RE/MAX Holdings. “With solid housing availability and stable interest rates—with potential reductions on the horizon—many buyers view current market conditions as the most favorable in recent years.”

New York Regional Context

While Washington D.C. led all metropolitan areas with a 25.3% month-over-month inventory increase, the New York metropolitan region is navigating its own market dynamics within the national spring uptick. The Tri-State area continues to be influenced by the broader national trends of increasing inventory and strong pricing.

According to Bryan Cantio of RE/MAX Allegiance in Washington D.C., this growth became particularly evident mid-month: “We’ve observed gradual inventory increases since January, but the market accelerated more decisively by mid-March. This represents a positive development for buyers who have faced housing shortages for nearly two decades, while sellers will likely need to adapt to greater market uncertainty.”

For New York-based investors and homeowners, these national patterns provide context for local market conditions, where proximity to financial markets and the region’s unique housing density create distinctive market characteristics.

Key Performance Metrics

The RE/MAX report highlighted several other significant market indicators:

Buyers paid an average of 99% of asking price, consistent with both February 2025 and March 2024 figures
Homes sold in an average of 44 days, down from 51 days in February but still five days longer than March 2024
Housing supply measured 2.3 months, below February’s 2.7 months but above the 1.7 months recorded last year

Top Markets for New Listings

The metropolitan areas recording the strongest year-over-year growth in new listings were:

Las Vegas: +28%
Nashville: +26.5%
Manchester: +26.3%

Conversely, Birmingham (-13.4%), Minneapolis (-12.7%), and Des Moines (-12%) experienced the most significant declines.

Transaction Leaders and Laggards

While overall transactions decreased 1.4% year-over-year, certain markets outperformed:

San Francisco: +13.3%
Fayetteville: +9.9%
Dover: +8.4%

Markets showing the steepest annual transaction declines included Bozeman (-11.9%), New Orleans (-11.7%), and Atlanta (-9.5%).

Price Trends and Market Dynamics

Burlington led all markets with a striking 22.4% year-over-year price increase, followed by Trenton (+9.7%) and Fayetteville (+8.8%). Price decreases were most pronounced in Honolulu (-4.5%), Omaha (-3.2%), and New Orleans (-1.8%).

The sale-to-list price ratio reveals additional market dynamics. San Francisco (104.8%), Hartford (103.3%), and Trenton (101.3%) commanded the highest ratios, indicating properties selling above asking price. Miami (94.1%), Bozeman (96.2%), and Tampa/New Orleans (both 96.6%) recorded the lowest ratios.

Market Velocity

Properties sold fastest in Washington D.C. (16 days), Baltimore (17 days), Manchester (17 days), and Philadelphia (18 days). The slowest-moving markets were Bozeman (84 days), Fayetteville (80 days), and New Orleans/Miami (both 75 days).

With inventory levels continuing to rise and spring market momentum building, the residential real estate market appears positioned for an active season ahead, balancing increased choices for buyers with potentially shifting dynamics for sellers. For New York-based readers watching both local and national housing trends, this data offers valuable insights for portfolio diversification beyond the city’s borders, while highlighting the broader economic currents affecting real estate from Manhattan to Miami.

Italian Real Estate Shows Slight Shift in Investment Trends for 2025

By Columbus International,29 April 202529 April 2025

After two years of growth, investment purchases cool slightly while maintaining historically strong levels

The Italian real estate market is showing signs of a subtle directional change in 2024-2025.

Following increases during 2022 and 2023, investment purchases now represent 19% of total transactions, a marginal decrease from 19.5% last year, according to analysis from the Research Department of Gruppo Tecnocasa based on transactions completed by agencies throughout Italy.

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Though minimal, this decline represents a cooling signal after two consecutive years of growth. From 2012 to 2022, investment purchases consistently ranged between 16% and 18%, making the current level—despite its decrease—still among the highest recorded between 2012-2024. Historical lows were reached during 2014-2015 and again between 2020-2021, largely due to pandemic effects.

Major Cities Continue Driving Investment Activity

Major metropolitan areas maintain their position as investment hotspots, with investment purchases reaching 28.1% of transactions—slightly down from 28.6% in 2023 but significantly above the national average. Naples leads the 2024 rankings with an impressive 38.9% of purchases made for investment purposes, followed by Palermo (36.0%), Verona (32.2%), Bari (30.5%), and Florence (30.3%). Milan and Bologna both exceed the 28% threshold, while Rome (21.5%) and Turin (21%) complete the rankings.

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Property Preferences Evolve as Investors Seek Larger Spaces

Two-room apartments remain investors’ preferred choice, accounting for 32.5% of investment purchases, followed by three-room units at 27.4%. Notably, 2024 has seen increased interest in larger properties (four rooms and above) and independent housing solutions, which grew from 13.2% to 13.8% of investment purchases—signaling renewed interest in more spacious and versatile properties.

Investor Profile: Mid-Career Professionals and Families Lead the Market

The typical investor age remains stable, with the 45-54 bracket being most active (27.7%), followed by 35-44 year-olds (22.6%) and 55-64 year-olds (21.8%). Couples and families dominate the investment market, representing 72.2% of investment buyers. Single investors have declined from 30.6% in 2023 to 27.8% in 2024, reversing the growth trend observed in previous years.

Foreign Investors and Financing Options Gain Ground

Foreign investment in Italian real estate continues to strengthen. While international investors represented only 4.1% of transactions in 2019, they now account for 9.5% in 2024, making a significant contribution to the investment segment.

Cash purchases remain dominant at 85.9% of investment transactions. However, mortgage financing has increased to 14.1%, showing recovery after the 2023 slowdown caused by rising interest rates.

Source: Analysis by Gruppo Tecnocasa, as reported by Idealista

Ferrari’s Strategic NYC Showroom Relocation Completes Full Occupancy At Prestigious 425 Park Avenue

By Columbus International,25 April 202525 April 2025

In a significant Manhattan retail move that carries broader implications for New York’s premium commercial real estate sector, Ferrari North America is executing a carefully calculated showroom relocation that benefits both the luxury automaker and its new landlord. According to reporting by the New York Post, the Italian luxury brand is moving its flagship New York showroom from 410 Park Avenue to 425 Park Avenue—a symbolic upgrade that provides both enhanced visibility and retail prestige.

A Trophy Asset Reaches Full Occupancy

The relocation represents more than just a new address for the prancing horse logo. For L&L Holding Company’s 425 Park Avenue tower, Ferrari’s 7,629-square-foot lease on two levels marks a significant milestone: the building has now reached 100% occupancy across its 670,000 square feet of office and retail space, achieving this benchmark in under three years since completion.

This full occupancy achievement stands in stark contrast to Manhattan’s broader office market challenges. The Foster + Partners-designed tower, developed by L&L with co-equity partner Tokyu Land US Corporation and co-managing partner BGO, has strategically positioned itself in the ultra-premium segment of the market, attracting tenants who prioritize architectural distinction and prestige.

Strategic Tenant Mix

The tenant roster at 425 Park Avenue reads like a who’s who of financial and luxury brands. Ken Griffin’s Citadel anchors the office component with 440,000 square feet, while acclaimed chef Jean-Georges Vongerichten’s restaurant Four Twenty Five secured the first retail position. Ferrari now completes this carefully curated tenant mix.

David W. Levinson, L&L’s chairman and CEO, characterized the Ferrari deal as “a crowning achievement for L&L Holding and all our project partners,” according to the New York Post. He added that “Ferrari is making a strong marketing move and wanted to have the best showroom in North America.”

Architectural Intention Meets Market Reality

Perhaps most intriguing is Levinson’s revelation that he and tower architect Norman Foster “always conceived of the space as an auto showroom,” with early models of the building even depicting it specifically as a Ferrari showroom before construction began.

When explaining this architectural foresight, Levinson told the New York Post: “Superior design. When you think of Ferrari, you think of enduring quality, power, leading innovation, which is precisely what 425 Park represents.”

The Ferrari Advantage

For Ferrari, the move brings significant retail advantages despite relocating just across the street. While their current space at Global Holdings’ 410 Park Avenue (which itself maintains healthy 90%+ occupancy) offered prime positioning, the new location provides dramatic architectural distinction with 3,000 square feet of ground space and 5,000 square feet on the mezzanine featuring soaring 45-foot floor-to-ceiling glass.

Matteo Torre, President of Ferrari North America, commented on the move: “Ferrari is pleased to start a new chapter in our expanding presence in New York City in such an iconic building in the heart of mid-town Manhattan.”

Market Implications

This transaction reflects a broader trend in Manhattan’s commercial real estate market, where premium properties continue to outperform despite overall market softness. The same New York Post report noted Apollo Global Management’s recent 100,000-square-foot lease at 590 Madison Avenue, bringing that 1-million-square-foot tower to 87% occupancy, up from 77% two years ago.

These high-profile leases in trophy buildings suggest that while Manhattan’s commercial real estate market remains challenging for many property owners, buildings with distinct architectural identities and premium positions continue to attract blue-chip tenants willing to make long-term commitments.

Etro Expands Luxury Brand Portfolio Into Southeast Asian Real Estate Market

By Columbus International,11 April 2025

Italian luxury fashion house Etro is strategically diversifying into the high-end real estate sector with its latest venture in Thailand’s premium property market. According to Monitor Immobiliare, the brand has announced “Etro Residences Phuket,” marking its entry into Southeast Asia’s luxury real estate landscape.

Strategic Brand Extension

This development represents Etro’s second branded residential project following “Etro Residences Istanbul,” indicating a calculated expansion of the company’s real estate portfolio. The Phuket project is being developed in partnership with Amal Development, a Thailand-based developer focused on sustainable luxury properties, with design expertise provided by The One Atelier, a firm specializing in branded real estate concepts.

The move aligns with a growing trend of luxury fashion houses extending their brand equity into complementary lifestyle sectors, creating additional revenue streams while reinforcing brand positioning in key high-net-worth markets.

Premium Positioning and Value Proposition

The residences will be situated within the Gardens of Eden, an upscale waterfront residential complex in Phuket. The property offerings range from three-bedroom residences to duplex units, with each space designed to embody Etro’s distinctive heritage, craftsmanship and aesthetic sensibilities.

Etro’s value proposition extends beyond the physical properties to include a comprehensive luxury lifestyle experience. Residents will have access to an extensive amenity package including private wellness retreats, spa facilities, holistic wellness programs, fitness facilities, and personalized concierge services—all consistent with the brand’s luxury positioning.

Executive Perspectives

Fabrizio Cardinali, CEO of Etro, frames the development as part of a broader expansion strategy, noting: “After the success of Etro Residences Istanbul, Etro Residences Phuket represents the continued expansion of the brand in the luxury real estate sector. This project is destined to establish a new standard in Southeast Asia’s rapidly expanding luxury real estate market.”

This sentiment is echoed by Aleksandr Chuvalov, CEO of Amal Development, who highlights the market dynamics driving the project: “Thailand is an incredibly dynamic market, where consumer preferences are fueling demand for branded residences.”

Michele Galli, CEO of The One Atelier, positions the development as forward-looking: “Etro Residences Phuket represents a window to the future of luxury living. Branded real estate goes beyond aesthetics. It’s a fusion between hospitality, wellness and exclusivity that reflects the lifestyle of the world’s most demanding clients.”

Market Context

The branded residence segment has shown significant resilience and growth, even during global economic uncertainty. Projects that combine established luxury brands with premium real estate typically command price premiums of 20-30% compared to non-branded properties in the same markets, according to industry data.

For Etro, which has been undergoing a strategic repositioning since its acquisition by L Catterton in 2021, this real estate venture represents both a brand extension and potential revenue diversification at a time when luxury fashion houses are increasingly looking beyond their core product categories for sustainable growth.

The Thailand luxury property market has demonstrated particular strength post-pandemic, with increased interest from both regional and international investors seeking second homes with resort-like amenities in destinations known for natural beauty and favorable investment conditions.

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

By Columbus International,10 April 202515 April 2025

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.

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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,9 April 2025

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

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

By Columbus International,4 April 2025

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

Miami’s Real Estate Transformation: Million-Dollar Mansions Rise as Affordable Homes Vanish

By Columbus International,11 March 2025

Miami’s skyline isn’t the only thing reaching new heights. As ultra-wealthy buyers flood the South Florida market, they’re reshaping the entire real estate landscape, creating a city where luxury properties abound while entry-level homes become relics of the past.

The Vanishing Starter Home

As per The Wall Street Journal, the statistics tell a startling story. Between 2019 and 2024, single-family homes priced below $500,000 in Miami-Dade County have plummeted by an astonishing 79.6%, according to research firm Analytics Miami. This dramatic shift coincides with hedge-fund titan Ken Griffin’s historic $100 million home purchase—the first of its kind in Miami—which seemingly opened the floodgates for similar high-end transactions.

The data reveals the complete transformation of Miami’s housing market. What was once a city with diverse housing options has rapidly evolved into a playground for the ultra-wealthy, with profound implications for everyone else.

The Griffin Effect

Griffin’s record-breaking purchase wasn’t just a headline—it was a harbinger. Since that landmark transaction, Miami has experienced an unprecedented surge in eight and nine-figure home sales, reshaping market expectations and pricing strategies throughout the region.

Griffin’s statement purchase validates Miami as a true luxury destination on par with New York, London, and Hong Kong. This landmark transaction has influenced other wealthy individuals to see Miami differently—not just as a vacation spot but as a place to establish a significant presence.

The trend has accelerated further with Russian billionaire Vladislav Doronin’s recent sale of his Star Island estate for a staggering $120 million—setting a new record for Miami-Dade County. The property, which Doronin purchased from retired NBA star Shaquille O’Neal for $16 million in 2009, represents a remarkable 650% return on investment. According to reports from The Real Deal and the South Florida Business Journal, the luxurious residence is rumored to be a teardown purchase, signaling that even trophy properties may be viewed as merely land acquisitions in today’s ultra-luxury market.

Economic Ripple Effects

This transformation extends far beyond real estate statistics. As affordable inventory disappears, Miami’s workforce—the teachers, healthcare workers, and service industry employees who keep the city functioning—face increasingly untenable housing situations.

Average earners now commute from ever-distant suburbs, with some traveling more than 90 minutes each way to reach jobs in Miami’s core. This migration creates additional pressure on transportation infrastructure while simultaneously altering the demographic makeup of Florida’s most dynamic city.

There’s a real risk of Miami becoming a tale of two cities—one populated by the ultra-wealthy and the other by those who serve them, with very little in between. The ongoing middle-class exodus threatens the diversity and vibrancy that made Miami special in the first place.

Investment Drivers

Several factors fuel this market transformation. Florida’s favorable tax environment, combined with Miami’s international appeal and lifestyle amenities, creates perfect conditions for wealth migration. The pandemic accelerated these trends, as remote work capabilities allowed executives from high-tax states to relocate permanently.

Miami offers what wealthy individuals from New York, California, and international locations seek: financial advantages, cultural dynamism, and extraordinary quality of life. This isn’t a temporary trend—it’s a fundamental realignment of where capital and influence concentrate in America.

The New Normal?

Industry experts debate whether this market shift represents a permanent change or a cyclical extreme. Some point to similar patterns in cities like San Francisco and New York, suggesting Miami will eventually reach a new equilibrium that accommodates diverse income levels.

Others see Miami’s transformation as more profound and potentially irreversible. The combination of limited developable land, strong international demand, and climate-related challenges to new construction creates unique pressures that may permanently alter the city’s housing ecosystem.

The $500,000 single-family home in Miami-Dade isn’t just endangered—it’s practically extinct. Looking ahead, the market will need to completely rethink how housing functions in this region, because the old paradigms simply no longer apply.

For now, the city continues its remarkable metamorphosis, with each eight-figure transaction further cementing Miami’s status as America’s newest ultra-luxury real estate capital—and pushing the prospect of affordable homeownership further beyond reach for everyone else.

This article represents analysis based on current market conditions and expert opinions. Real estate investments involve risk, and market conditions may change.

For inquiries regarding distinguished Miami properties—whether for acquisition or divestment—the esteemed real estate professionals at Columbus International remain at your service. info@columbusintl.com

Smart Investors: Why Now is the Perfect Time to Enter the Real Estate Market

By Columbus International,6 March 2025

Strategic Opportunities Emerge as Market Resets

The recent pullback in investor activity in the U.S. residential real estate market represents a significant opportunity for savvy investors ready to position themselves for the next growth cycle.

Recent Redfin data showing a 3.9% year-over-year decline in investor purchases during Q4 signals not a fundamental market weakness, but rather a strategic reset that creates ideal entry points for forward-thinking investors.

Why This Market Presents Extraordinary Value

Several factors make this an opportune moment to invest:

Reduced Competition: With investor market share dropping to 17.1% (the lowest fourth-quarter level since 2020), there’s less competition for desirable properties, creating better negotiating positions.
Regional Arbitrage Opportunities: While Florida and other markets are seeing investor pullbacks, the Bay Area is experiencing renewed interest with impressive growth: Seattle (33.8%), San Jose (21.1%), Oakland (19.4%), and San Francisco (19.1%). This regional divergence creates tactical opportunities for portfolio diversification.
Value in Low-Priced Properties: While high and mid-priced home purchases have declined, activity in low-priced homes has remained stable – highlighting where smart money is finding value in today’s market.
Appreciating Asset Values: Despite fewer purchases, the total value of investor acquisitions increased by 6.3% year-over-year to $36.5 billion, directly matching home price appreciation. This confirms real estate’s ongoing strength as a value-preservation vehicle.
Condo Market Reset: The significant drop in condo investor activity (down 13% to lowest levels since 2012) has created potentially undervalued assets that astute investors can acquire at favorable prices before the inevitable market rebound.

Strategic Investment Approach for Today’s Market

The current market conditions favor investors who:

Take a contrarian approach to cities like Orlando, Miami, and Chicago where others are retreating
Focus on value-add opportunities in condos where rising HOA fees and insurance costs have temporarily suppressed demand
Consider the Bay Area renaissance as an indicator of where growth will spread next
Use current higher interest rates to negotiate better purchase prices while preparing to refinance when rates inevitably decrease

For sophisticated investors, market pullbacks have historically represented the best entry points. The current plateau in the housing market, combined with the demonstrated resilience of property values, makes this an ideal moment to build positions before the next growth cycle begins.

Boxing Legend Floyd Mayweather Expands Real Estate Empire with $402 Million Manhattan Portfolio

By Columbus International,3 March 2025

This article is featured in the “Newsroom” section of Columbus International, a real estate boutique founded by Richard Tayar with offices in New York, Miami, Milan, and Florence. Columbus International specializes in residential, commercial, luxury real estate and investment opportunities in bridge markets between Italy and the United States.

The Undefeated Champion Takes His Winning Strategy from the Ring to New York’s Property Market

Former boxing champion Floyd Mayweather Jr. has delivered a knockout punch in the New York real estate market with his latest acquisition—a massive $402 million multi-family portfolio in Upper Manhattan. The undefeated athlete, known for his financial acumen as much as his boxing prowess, shared the news with his nearly 29.7 million Instagram followers in characteristic victory style.

“All the buildings belong to me, I don’t have no partners,” Mayweather declared in his social media announcement. “And all the retails down below on my buildings, all of them belong to me too. You can do the same. It’s all about making power moves.”

The impressive portfolio includes 62 multifamily properties comprising more than 1,000 units, many of which are rent-stabilized, according to earlier reporting by The Real Deal. The acquisition was made through Mayweather’s real estate investment firm, Vada Properties.

Building a Diversified Real Estate Portfolio

This Upper Manhattan investment represents just one component of Mayweather’s rapidly expanding real estate empire. The boxing legend has demonstrated strategic diversification across various property segments:

A $100 million investment in a $3 billion luxury rental portfolio joint venture, including The Copper’s twin residential towers in Murray Hill
Another $100 million investment across nine skyscrapers in partnership with SL Green, New York City’s largest commercial landlord
An 18-asset deal in November spanning properties in New York, Chicago, and Jersey City, marking his entry into office real estate
Personal residential moves including the purchase of a five-bedroom unit in the Baccarat Hotel and Residences in Midtown Manhattan

Luxury Living and Strategic Divestments

Mayweather’s personal real estate portfolio has seen significant activity as well. The Post’s Gimme Shelter reported on his New York house hunt late last year, which included touring a $150,000-per-month Soho bachelor pad and a Gilded Age mansion before settling on his Baccarat residence.

The entrepreneur has also been strategically divesting properties, selling a $22 million home in Miami’s Biscayne Bay last year and recently listing his $12.5 million Las Vegas mansion.

Beyond Real Estate: Sports Ownership Aspirations

As Mayweather celebrates his 48th birthday, the billionaire’s increased presence in New York City isn’t solely attributed to his real estate ventures. Reports suggest he’s exploring potential plans to purchase a minority stake in the New York Giants alongside business partner and real estate magnate Meyer Orbach.

Mayweather’s aggressive expansion into real estate comes at a time when many investors have retreated due to high borrowing costs, particularly in the affordable housing segment. This countercyclical approach aligns with the boxing champion’s career-long strategy of identifying opportunities where others see obstacles.

“Over 1,000 apartments, I’m just getting started,” Mayweather stated confidently in his Instagram post, suggesting this latest knockout acquisition is merely the opening round in his real estate championship bout.