Sunshine: Some neighborhoods seeing increase in apt. demand

Real Estate Weekly, Dec 26, 2001

Demand for luxury apartments is quickening if not yet having reached pre-Sept. 11 activity, with apartment sales in traditional neighborhoods showing- the most momentum, according to Louise Sunshine, CEO of The Sunshine Group, a leading luxury residential sales and marketing firm.

"In times of uncertainty, homebuyers are interested in investing in areas that have intrinsic value and where apartments will likely continue to appreciate over time," said Sunshine. "Beekman Place, Sutton Place and the Upper East Side are among the city's most stable residential neighborhoods, providing enduring amenities and lifestyle features that are in demand in any economy. In fact, prices are well over $1,000 per SF in well designed projects offering commanding river and city views."

For example, at Grand Beekman, a new luxury condominium being developed at 400 East 51st St. in the exclusive Beekman Place enclave, sales have been substantial, topping $32 million, with several contracts being signed after Sept. 11.

Rising 32 stories, Grand Beekman from one- to four-bedrooms as well as half-floor residences and three full-floor penthouses complete with fireplaces and terraces.

With architectural cues taken from River House, the celebrated 1930s residential building at 52nd Street and the river, the new condominium will capture the grace and grandeur of this exclusive neighborhood.

Grand Beekman will also feature exquisitely designed interiors, a conservatory with an atrium ceiling, a private garden, and a duplex fitness center, among other high-end amenities. According to Sunshine, Grand Beekman is a prime example of the value people are looking for in this market.

The Sunshine Group, Ltd. is recognized as the nation's premiere marketing and sales company for residential real estate and condominium hotels in the luxury market. The firm is committed to creating value for its clients through a unique understanding of residential real estate, innovative marketing and a commitment to integrity and service. The Sunshine Group is the exclusive marketing and sales agent for Grand Beekman.