Condo Market Rebounds, Business and Industry Trends Analysis

New condo projects in major cities such as Houston, Dallas and Denver are booming.  In New York City, massive buildings are being built that are reaching record heights and unit prices.  At 432 Park Avenue in Manhattan, one of the world’s tallest residential towers was completed in 2016, at 84 stories.  Units sold briskly, including two penthouses in the $90 million price range.  One was reportedly being purchased as an investment, not as a personal residence.  Buyers of other units, mostly in the $9 million to $50 million range, included wealthy people from outside the U.S. who desire a fashionable…

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