The Real Deal New York

Will the luxury ‘bubble’ pop?

Insiders are urging caution as high-end inventory rises

November 17, 2014 11:00AM
By E.B. Solomont

Clockwise from left: Gary Barnett, 220 Central Park South, rendering of a unit inside One57 and Arthur and William Zeckendorf

Clockwise from left: Gary Barnett, 220 Central Park South, rendering of a unit inside One57 and Arthur and William Zeckendorf

From the November Issue: When Zeckendorf Development’s triplex penthouse at 520 Park Avenue hits the market for a record-seeking price of $130 million next year, insiders will be watching closely, trying to glean insight about luxury real estate. For good reason. Concern about a luxury real estate bubble, once whispered, is now being voiced at full volume. [more]

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