From the November issue: Microsoft cofounder Paul Allen kicked off last month by closing on the $25 million purchase of the penthouse co-op at 4 East 66th Street, where he already reportedly owns an apartment on the 11th floor. Allen appears to have had the inside scoop on the property, since it was not listed.
The buy was a standout price for the month, but Allen is not the only purchaser taking the plunge. Some buyers remain gun-shy and wary of the up-and-down financial market, but others have grown accustomed to the volatility, brokers said.
While September was characterized by fear over the economic fluctuations, brokers said, buyers in the last few weeks have started to make decisions faster (although foreign buyers reeling from the debt crisis continue to wait on the sidelines). Brokers also noted that lowball offers gained little traction and bidding wars started anew at some properties.
“These swings in the marketplace no longer have a jolting effect on homebuyers and investors in New York City,” said Robert Varvara, an associate broker at Miron Properties. [more]
