Dolly Lenz, the vice chairman of Prudential Douglas Eliman, appeared on Bloomberg’s “Taking Stock” Friday to discuss the high end of the city’s real estate market. When asked about the $12 Million Park Avenue co-op sale she recently brokered, Lenz called the apartment “nice” but she “wouldn’t say it’s amazing or great.” Instead, a better, 3,300-square-foot listing she has at 15 Central Park West asking $35 million is a “bargain.”
Throughout the appearance, Lenz veered slightly from the luxury-sales-market-is-strong rhetoric, saying instead that it’s still a “spotty” and uneven market. But she noted that New York City apartments are booming as an asset class because it’s an extremely safe place for investors to park their money.
Finally, Lenz said the Hamptons sales market has been good. But an abundance of patient sellers, holding out for their asking prices, are keeping sales prices high. [Bloomberg via Washington Post]