Luxury Real Estate Archives - Page 3 of 3

November 6, 2022

Where do the wealthy invest? Luxury real estate is the safest investment one can make, says new Coldwell Banker Global Luxury report

U.S. affluent consumer sentiments, highlighted in “The Trend Report,” identifies the top trends and investment habits revolutionizing the global luxury real estate landscape

MADISON, N.J., Oct. 24, 2022 /PRNewswire/ — A recent report indicates that real estate remains in a strong position for the remainder of 2022 and heading into 2023 as more affluent consumers are turning to real estate to diversify their portfolios and as a long-term investment strategy. In fact, 80{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} of U.S.-based high-net-worth consumers agree that real estate is a safe investment, and over one-third agree that it is the safest investment one can make when compared to stocks, bonds, cryptocurrency and pensions, according to “The Trend Report,” released today by Coldwell Banker Real Estate LLC, an Anywhere^SM (NYSE: HOUS) brand, and the Coldwell Banker Global Luxury^® program.

Additionally, consumers are over three times more likely to think that 2023 will be a better time to invest in real estate compared to 2022 – rising a whopping 42{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} from only 11{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} a year ago.

The Trend Report, paired with a survey conducted by Censuswide of over 2,000 U.S.-based high-net-worth consumers, insight from Coldwell Banker Global Luxury Property Specialists and data collected by the Institute for Luxury Home Marketing and Wealth-X, provides an in-depth analysis of what’s driving real estate investment, emerging worldwide luxury real estate market trends, market growth opportunities and global wealth.

The top trends shaping the 2022 luxury real estate market:

An Unconventional Buyer’s Market
Smaller Square Footage
Reconsidering Relocations
Searching for Stability
Moving Beyond Borders
Creative Financing

A consistent theme throughout The Trend Report, as found through the survey findings, is that investment is continuously top-of-mind for the wealthy, no matter the market environment. Affluent consumers consider real estate a prime asset for building, maintaining and growing wealth.

Key survey findings featured in The Trend Report include:

Property investment is a priority
Traditionally seen as a hedge against inflation, real estate has the ability to provide financial, emotional and psychological stability in the face of rising uncertainty. Over time, most home values typically appreciate, underscoring how much affluent consumers play the long game when it comes to financial and lifestyle investments today.
- The top reasons respondents purchased real estate as an investment:
- The top five types of homes respondents own as an investment property:
- 77{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} of U.S. luxury consumers surveyed for the report own an investment property. Of those, nearly two-thirds own two or more properties.
More opportunities for buyers on the horizon
The luxury real estate market has shown resilience, leaving buyers with plenty of purchasing power to still acquire the home they desire. Affluent buyers remain bullish as most continue to see the value of property investment.
- 75{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} of respondents noted that current market conditions have changed their mind about buying a home or investment property in the future as luxury consumers remain optimistic about the market. The top three reasons?
Secondary homeownership trumps purchasing a primary residence
With their primary residences accounted for, luxury buyers are turning their attention to building generational wealth by investing in multiple, often lesser-priced, secondary-plus properties.
- 40{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} of respondents who are planning on purchasing a home in the future anticipate doing so in the next 1 – 3 years.
- Of those planning to purchase a home in the future, 72{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} stated that their new home would either be a second residence, rental property or vacation home.

Affluent buyers get creative with financing
Rising interest rates are inspiring a new generation of high-net-worth buyers to get creative with their real estate financing.

Over half of luxury consumers plan to finance their next home purchase via cash offers (51{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d}) or with a private wealth mortgage (48.1{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d}).
Buyers are also using nontraditional bank loans, seller carryback financing and rate buy-downs.

CLICK TO TWEET:

Luxury real estate remains in a strong position going into 2023, with more affluent consumers turning to real estate as a long-term investment strategy, says a new @ColdwellBanker report. Learn what’s driving luxury via #CBLuxury’s “The Trend Report.” https://blog.coldwellbanker.com/the-trend-report-2022/

QUOTES:

“Luxury real estate investment continues to be hot for wealthy individuals in the U.S. and abroad. Those consumers who don’t need to move and have capital to spend will continue looking elsewhere for opportunities to grow their wealth through investments in smaller homes. Backed by data and expertise, Coldwell Banker Global Luxury Property Specialists have the knowledge and network support to provide end-to-end guidance for all those looking to buy their next dream property.”

– Liz Gehringer, President of Coldwell Banker Affiliate Business and Chief Operating Officer, Coldwell Banker Real Estate LLC

“While the luxury property market is now trending towards balance, there is still insatiable demand from wealthy buyers looking to diversifying their portfolios and build long-term wealth through investing in real estate. This strategy powered by the wealthy is the driving force that we see throughout The Trends Report and really underscores the power they still have when it comes to purchasing the properties that they desire.”

– Michael Altneu, Vice President, Coldwell Banker Global Luxury

“Here in Southern California, we are always seeing creative ways clients can leverage to get their property sold. When purchasing their next property, buyers are looking for more than just a house – they’re looking for a turnkey-ready dream home in their top desired location. Yesterday’s agent is today’s lifestyle ambassador, and they must be prepared to connect the dots between all aspects of their client’s life.”

– Jade Mills, President, Jade Mills Estates and International Ambassador of Coldwell Banker Global Luxury^®

Methodology

The Coldwell Banker Global Luxury^® program collaborated with Censuswide, the Institute for Luxury Home Marketing and Wealth-X to provide insights into wealth creation, real estate, property investment, luxury spending preferences and emerging trends. Research conducted by Censuswide took place between August 2, 2022 and August 15, 2022. The survey reached 2,001 U.S. consumers aged 18+ with a household income of $1M+ and who have bought a home in the U.S. worth $1M+, with quotas of a minimum of 100 per the regions targeted. Censuswide abides by and employs members of the Market Research Society which is based on ESOMAR guidelines and principles. The Institute for Luxury Home Marketing analyzed data for the top 10{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} of 120 U.S. markets. Data contained is from January 1, 2019 to August 31, 2022, and has been computed by the Institute for Luxury Home Marketing’s data research partner and shared with Coldwell Banker Global Luxury^® and based on information attained both privately and publicly. The Top 10{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} is defined as homes (or in terms of inventory or list prices), matching or exceeding the 90th percentile sold price for homes sold from January 1, 2019 to August 31, 2022. For more information on how data was collected and defined, please refer to the full methodology on page 4 of The Trend Report.

About Coldwell Banker Global Luxury^®

The Coldwell Banker Global Luxury^® program legacy traces its roots to 1933 and has been a world leader in luxury real estate since. Coldwell Banker Global Luxury Property Specialists are an exclusive group within the Coldwell Banker organization, making up under ten percent of independent sales associates affiliated with the brand worldwide. Coldwell Banker affiliated agents conducted 50,355 transactions of homes priced at $1 million or more in 2021. This equates to $267 million in luxury sales every day (+59{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} from 2020) with an average sales price of $1.9 million in this category. Coldwell Banker, the Coldwell Banker logo Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are registered marks owned by Coldwell Banker Real Estate LLC. Each franchise is independently owned and operated.

Media Inquiries:
Athena Snow	Jackie Hart
Coldwell Banker Real Estate LLC	G&S for Coldwell Banker Real Estate LLC
973.407.5590	845.505.7881
[email protected]	[email protected]

SOURCE Coldwell Banker Global Luxury

November 6, 2022

New York City’s luxury real estate market in flux

New York City’s luxury residential authentic estate market place has everything: the country’s most high priced listing, amazing penthouses, condos loaded with features, classic brownstones, modern townhomes and chicly updated pieds-a-terre. What it does not have now is certainty. Sales cooled off in the summer (as they always do seasonally) and authentic estate professionals are anticipating an uncertain tumble owing to climbing interest fees and inflation, coupled with recession fears.

Despite prevailing macro-economic situations, prime Manhattan and Brooklyn serious estate remains a portfolio ought to-have for industry talent and electricity gamers, whilst up-and-comers and beneath-the-line customers enterprise further more out to crimson-warm Brooklyn neighborhoods like Bushwick and Bay Ridge, and outer Queens (not Staten Island just nonetheless).

Predicting wherever the current market will go up coming is hard. Caution abounds. “It’s safe to say, whichever way the current market heads, it will not be nearly as dramatic as it has been or as extraordinary as other marketplaces,” suggests Sotheby’s Global Realty’s Jeremy Stein of the Stein Team. He sees the market place as being in neutral territory, and in contrast to 2021 and early 2022, neither potential buyers nor sellers are favored. This will come following a 16-thirty day period operate that finished in May, where by “the quantity of profits was historic and epic,” states Stein. Blue- chip upscale qualities however draw fascination: His agency is symbolizing a 5,919- square-foot penthouse in SoHo’s legendary Romanesque-Revival model Puck Constructing the five-bed room, five-and-a-half bathtub penthouse with more than 2,000 sq. feet of outdoor terraces is detailed for $35 million.

“2021 was the best 12 months in history of New York City actual estate,” says Pamela Liebman, president and CEO of Corcoran, and not a 12 months to benchmark for comparison, she contends (Liebman is a highlighted realtor in Netflix’s fact skein “Buy My House”). She details out that the town is still earlier mentioned 2019 revenue numbers, even however climbing mortgage prices are now impacting product sales. Liebman has observed an enhance in desire-only loans even though the luxury section historically favors all-money buys. “There are continue to bidding wars exactly where there is a scarcity of that sort of home,” she finds, and no bargains when it arrives to chasing the desire New York condominium. However, bidding wars are not the norm across the board: only 15{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} of specials in August closed earlier mentioned record cost, claims Liebman.

“I imagine folks are hunting — if they obtain what they actually want, they are obtaining it. If there’s a whole lot of inventory in a particular selling price vary, they’ll want a deal,” Liebman provides.

Customers, she contends, can be daring sensible buyers will make the most of their energy right now.

She finds that talent is nonetheless considering getting in downtown Manhattan, preferably in “a alluring new progress.” Penthouses proceed to desire Los Angeles customers who find out the all-encompassing views and house for entertaining.

“Entertainment government-varieties are captivated to top-of-the-line, midtown condos,” she says. Corcoran reps a triplex penthouse on 3 floors overlooking Central Park at 111 W. 57^th. The 7,130-square-foot home is shown for $66 million in a boutique-sized, 60-unit developing that checks all the bins: entire assistance, a lot of facilities, privateness, sights and protection. Condos also maintain much more attractiveness to superstars and other higher-internet- well worth persons in excess of co-op buildings, as economic statements are not demanded and there are much less policies about renting, Liebman explains.

“I feel it would be an understatement to say that New York Metropolis is back: luxury renters and buyers are returning household,” finds Compass’ Carl Gambino. His knowledge: there could not be as lots of bidders on properties, but there is nonetheless a ton of activity. Calendar year-to-date, 841 residences priced at $5 million-furthermore have bought in Manhattan as a result of August, for every Compass stats. These trades of luxury and extremely-luxurious residences at $5 million-moreover and $10 million-plus increased 35.6{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} in the first 8 months of the yr, as opposed to the exact same time period past calendar year and the 1st eight months of pre-pandemic 2019, notes Gambino.

Penthouses and exceptionally properly-completed townhomes are always in-demand, he points out. He’s representing a 1919-crafted, stylishly renovated, 5-bed room, 4-and-a-50 {0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} bathtub, West Village townhouse for $25 million. Jennifer Lawrence is just 1 close by high-profile West Village townhome operator. Other boldface names have flocked to the prime Brooklyn enclaves of Brooklyn Heights and Cobble Hill. “Pre-war townhouses are generally in favor,” says Abdul Muid, founder and principal of Ivey North, which specializes in Brooklyn true estate. “They are not setting up any far more of them so there’s a restricted source,” he notes of the brownstones, which are loaded with architectural details and often on tree-lined, landmarked blocks.

“A calendar year back, if a residence was priced on the button or aggressively, I acquired email messages to check out promptly,” he claims. Currently, inquiries occur far more slowly but surely, and purchasers be expecting a lot more time. “All-cash buyers are nevertheless seeking but at times wait around for a rate reduction,” Muid finds. Stock is however fairly reduced. People wanting for price propositions look at the outer edges of Brooklyn with a whole lot of activity in Flatbush, East Flatbush and Canarsie. Soon after almost 20 several years advertising serious estate, he’s not amazed by industry cycles. In the long run, “Buyers want to see a lot more certainty,” he notes.

Flexibility also arrives into play in 1 the most lively segments of the luxury sector. Douglas Elliman Realty’s Erin Boisson Aries specializes in lodge-branded residences and the best-end, quick time period rentals. The pandemic built apparent the rewards of a a lot more versatile, nomadic lifestyle. Switch-important, managed resort residences fulfill these needs. “Everybody wishes to be in New York City,” Aries claims, but not anyone requirements a principal or permanent home. “These purchasers want pampering, comfort and ease and stability,” she provides.

Aries is selling the Residences at the Ritz-Carlton, New York, where by more than 50 {0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} of the 16 totally furnished penthouses have offered. Currently, a 1,848-sq.-foot, two-bedroom, two-and-a-fifty percent bathtub lists for $7.2 million. It is scarce to come across penthouses with such somewhat modest square footage at these peak that was intentional, explains Aries. The Residences were designed for people who want to manage a foothold in the city without the need of the cares and considerations of usual homeownership. “The Residences are a ideal pied-a-terre and offer incredible views with individualized features. When you go away the staff at the Ritz manages almost everything,” she states. Yet another advantage to customers: the penthouse can be set into the Ritz’s rental pool.

The industry appears to be ramping up, “We’re finding ready for a chaotic slide,” states Aries. Building a media sensation: Ryan Serhant’s listing of the $250 million, 17,545-square-foot triplex penthouse atop Central Park Tower and 1,416 feet previously mentioned the city—the optimum home in the world. Other actual estate pros are rooting for Serhant to accomplish the roughly $14,249 for every sq. foot listing cost.

Sotheby International’s Stein expects New York’s “still undervalued” current market to bounce back inside of a yr so. “2015 was the peak: we will get again there at some stage,” Stein claims, citing residential real estate’s inherently cyclical character. “New York is constantly a true estate target,” he provides. As Corcoran’s Liebman notes, the industry is reliable: “New York is one of the world’s capitals. People today even now want to have a piece of genuine estate listed here.”

November 6, 2022

Why the Ultra-Wealthy are Investing in Luxury Real Estate Right Now

By Cody and Zach Vichinsky, co-founders of Bespoke Serious Estate

With climbing inflation around the world, there is a heightened worry of a world wide economic downturn. But, as numerous first-time true estate buyers discovered in 2008, economic uncertainty spells chance for the acquisition of genuine belongings. This is most accurate in ultra-luxurious marketplaces.

As the worth of the dollar continues to be risky, we’ve observed a lot more new consumers seeking to park their cash in a reduced-possibility, luxurious asset whose probability of appreciation is greater, forged by historically wonderful surrounding neighborhoods, sprawling acreage and square footage, and newly renovated constructions.

In virtually all conditions, the worth of extremely-luxury properties appreciates. For case in point, in 2016 the common trade selling price in the Hamptons $10 million+ segment was $15.52 million so much in 2022, it’s been $19.95 million, and it may possibly continue to enhance prior to the year’s finish. Even though this ordinary selling price metric has oscillated between quarters in all markets, eventually, the normal worth of ultra-luxury qualities has enhanced in the extended term for a overall return of 28.54{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d}, even with sector volatility above the yrs.

There are salacious headlines that show all marketplaces are headed for doom and gloom supplied existing macro-financial problems. It’s legitimate that curiosity costs are bigger, creating it a lot more expensive to finance a new home. It is also genuine, for all those whose $10 million+ financial investment is their main residence, putting their residence back on the industry calls for they swap it as the latest desire rates are greater than their amount from 2020 or 2021, investing a house now would be additional high-priced. As a consequence, quite a few have taken their property off the industry, leading to absorption of inventory.

In other terms, this slowdown in trade activity says nothing of demand from customers, but instead of supply. I can’t remember the past time our agency had as several eager customers prepared to spend in a $10 million+ residence with cash in hand, while we experienced so few listings to promote them.

In secondary marketplaces, drops in trade amount in comparison to 2020 and 2021 is also a sign of sector stabilization. South Florida, a nascent alpha industry before Covid, quadrupled in dimensions involving 2019 and 2021, internet hosting a enormous inflow of buyers from the northeast. The 46{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} fall in Q3 trade amount compared to the identical time previous calendar year is a indication of cooling market place velocity, which tends to guide to the maturation and sustainability in a industry cycle. In the Hamptons, the third quarter experienced a reduced amount of $10 million+ transactions at 15 trades, but finished with 20 qualities going into agreement, a suggestion that demand stays, but customers are patiently waiting around for the proper selling price to occur on the market place. While the Hamptons noticed remarkable results in 2020 and 2021, it is nonetheless extremely considerably performing strongly relative to its pre-pandemic premiums. Concerning 2016 and 2021, the normal variety of ultra-luxury houses offered for each year was 70 in 2022, we are on pace to exceed that, with 61 trades to date followed by yet another 20 in agreement and a entire fourth quarter forward of us.

Although New York Town is undoubtedly accomplishing more robust when compared to its 2020 ranges, extremely-luxurious consumers in New York Metropolis have different incentives than those people who fled to the Hamptons or South Florida all through Covid. Now smart money consumers are biding their time, eager to wait around on a house and what they perceive as fair-current market worth. Bidding wars have subsided from all markets above the past two a long time. Buyers’ endurance is very best shown with the substantial range of income we noticed in the 3rd quarter of $40 million+ qualities, which manufactured up 22{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} of all $10 million+ revenue, in contrast to their historical ordinary of 13{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d}. As the biggest and most high-priced cost phase, the couple of discerning customers capable to trade on $40 million+ have identified honest market place price via capitalizing on patience and market place volatility. Like in the $40 million+ segment, anticipations concerning sellers and consumers throughout the total ultra-luxury market have to align for the amount of gross sales to return to steadiness.

The metropolis also noticed record-high prices of new advancement trades previous quarter. Development of ultra-luxurious homes soared in 2020 and 2021 as developers geared up for people’s eventual return to the city, with new growth profits outperforming any one quarter in the past 3 a long time. So considerably this yr, they composed 39{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} of all $10 million+ trades, in comparison to an ordinary of about 18{0cd64a0a8f98edc6e1a333a4649a39f4fde229418ea626ab6b5ac18b9de2691d} in other decades, indicating ongoing desire for high-quality stock.

There’s under no circumstances been extra liquidity on the buyers’ side for quality authentic estate, but that liquidity is smarter than it has at any time been. Even though prospective buyers are eager to pay out truthful value when high quality stock will become readily available, sellers’ selling price anticipations are starting off to align with buyers’ notion of value as we head into the new yr, making extremely-luxurious much more attractive than ever.

The views and thoughts expressed herein are the views and views of the creator and do not essentially replicate these of Nasdaq, Inc.

November 6, 2022

Why Montana Has Become a Magnet for Luxury Real Estate Buyers

Long a haven for experience seekers and outdoor lovers, Montana is experiencing newfound acceptance in the pandemic period thanks to its ample area, abundance of contemporary air, and pristine pure magnificence. As a outcome, the true estate market has skyrocketed, with the median dwelling value jumping to $500,000—nearly double what it was in 2020. Even further amplifying the trend is what some brokers have dubbed the “Yellowstone influence,” a reference to the hit Television set drama in which Kevin Costner performs a dutiful cattle rancher in the point out. “We simply cannot preserve up with desire,” says Charlotte Durham of Major Sky Sotheby’s Global Realty.

Bigfork’s Stone Creek Camp sits on the shore of Flathead Lake and is priced at $20 million with Revel Authentic Estate. Photograph: Heidi Lengthy/Longviews Studio

In fact, Montana was a person of the several areas to notch populace increases in 2020 and 2021, with the majority of new occupants relocating from California, Washington, and Colorado. Even media baron Rupert Murdoch got in on the action, not too long ago splashing out a file $200 million for a sprawling home in the southwest corner of the condition. “Lately, I’ve observed a slowdown from the frenzy of the past pair of a long time,” adds Durham.

The Major Sky True Estate Co. a short while ago outlined this $16.5 million compound in Gallatin Gateway. Picture: Zakara Photography

These types of a dip, nonetheless slight, offers future potential buyers an opening into what has develop into a single of the country’s most popular housing marketplaces. Among the the buzziest parts is the aptly named Big Sky, a scenic spot just outdoors Yellowstone Countrywide Park that boasts private residential communities these kinds of as the unique Yellowstone Club (the only non-public ski and golf club in the planet) and Spanish Peaks Mountain Club, as perfectly as luxurious resorts Montage Big Sky and A single&Only Moonlight Basin. “The Large Sky community was ready for an inflow of citizens,” suggests Martha Johnson, vice president of product sales and founding broker of the boutique Huge Sky Serious Estate Co., noting the current advancement of city-center features as properly as a wealth of trails, fly-fishing spots, and environment-course ski slopes. “We also have sophisticated infrastructure like underground fiber-optic strains that make it straightforward to get the job done from residence.”

This 502-acre ranch in A few Forks is on the sector for $12.9 million with Big Sky Sotheby’s Worldwide Realty. Picture: Val Westover

The affordability issue is particularly acute in popular spots such as Bozeman, Kalispell, Missoula, Paradise Valley, and Whitefish. “But given that we are this kind of a large condition, several of our rural spots have not been as impacted by the market as people incredibly hot places,” states Durham, who indicates the major surprise isn’t sticker shock but how simple it is to acclimatize to Montana’s cold winters. “Of all the people that I have assisted transfer, I’ve not had a single particular person or relatives say they created a rash choice,” she suggests. “People just really like it in this article.”

A edition of this report initially appeared in print in our 2022 Drop Difficulty underneath the headline “Big Sky Bliss.” Subscribe to the journal.

Protect: A $25 million lakefront residence in Kila, on the market by means of Glacier Sotheby’s International Realty.

Image: Gravityshots for Glacier Sotheby’s International Fact

November 6, 2022

NYC’s most over-the-top luxury real estate trends of 2022

New York’s luxury real estate market continues to soar higher. So what do you get for all those millions? From converted churches to elaborate curving staircases inside supertall skyscrapers, these are a few of the posh property trends behind today’s hautest homes.

Living on a prayer

The lingering work-from-home lifestyle is good news for the owners of converted churches in upstate New York. “Churches make excellent live-work spaces, which are now in high demand,” James Male of House Hudson Valley Realty tells Alexa. He’s listing 73-79 N. Second St. in Hudson, otherwise known as the Hudson Abbey Building — a 1933 church that’s been meticulously transformed by a series of uber-creative owners.

“It was owned by a Chinese artist who shipped over some of his art and motorcycles but never did much with the space,” Male says of the $2.87 million property. “After that, it was owned by a couple who created a chocolate factory in the basement and lived upstairs. The current owner did most of the design work and used it as an event space.”

Interior of 73-79 N. Second St. in Hudson — Holy Rollers: Former upstate New York churches, like the ones at 73-79 N. Second St. in Hudson are being converted to homes.

Currently the church, which sits on a bluff overlooking the Hudson, has one bedroom and three bathrooms spread over an incredible 8,000 square feet.

The original chapel is now a modern, art-filled living room, with a massive glass barn door and tons of light.

In the neighboring town of Rifton, a church dating back to 1876 at 1883 Route 213 St. has seen an especially stunning transformation. The four-bedroom, four-bathroom, 4,356-square-foot structure, which is currently asking $2.49 million, previously served as a town hall and even the batiment canards for a local duck farm, according to listing agent Angelica Ferguson of Four Seasons Sotheby’s International Realty.

Exterior of 1883 Route 213 St. — In Rifton, 1883 Route 213 St. is currently asking $2.49 million.

“The owner made it his dream home and did amazing things, like a complete structural restoration that preserved as much of the original details as possible,” says Ferguson. “All the floors are original, and he repurposed a ton of the salvaged wood from different parts of the building and turned it into staircases and the mantel over the fireplace.”

Those looking to put their own stamp on a property should head just down the road to Rosedale, where a Gothic-style church is on the market at 398 Main St. The three-bedroom, five-bathroom, 7,600-square-foot former Rosendale Reformed Church was originally built in 1896 and has served as the Volunteer Firemen’s Association, a glass studio, an event hall and a gathering place for artists. While it has cozy living quarters, it could also be tricked out into a truly bohemian playpen. It’s asking $1.5 million with Petra Heist of Berkshire Hathaway HomeServices Nutshell Realty. See you in church.

Stairway to heaven

Interior of a unit at 176 Perry St. — Richard Meier designed the modern floating stairs inside this five-bedroom apartment at 176 Perry St., asking $38.9 million.

Stepping up is getting easier in Manhattan’s best buildings. “People appreciate points of architectural interest that make an apartment feel unique,” says Deborah Grubman of Corcoran Group. “A very graceful floating staircase is a perfect example.”

Grubman is marketing two luxe properties that feature very different examples of this feat of engineering: the triplex penthouse atop One Madison at 23 E. 22nd St. and the triplex apartment, No. 10S, at 176 Perry St. “They’re both beautiful, and perfectly designed so that they never feel awkward to walk up.”

The curvaceous, wood-clad floating stairs at One Madison were created by renowned residential architect J.L. Ramirez in an almost yacht-like vernacular. It’s the centerpiece of the five-bedroom, six-bathroom, 6,850-square-foot spread, which is asking $58 million.

Interior of Central Park Tower's penthouse. — The sky-high penthouse at Central Park Tower comes with a gravity-defying staircase — and a $250 million price tag.

Meanwhile, the tightly spiraled, all-white, Richard Meier-designed floating stairs on Perry Street seem ripped out of a contemporary art museum. That five-bedroom, five-bathroom, 11,000-square-foot mansion is asking $38.9 million.

But perhaps the biggest, baddest steps out there belong to the biggest, baddest unit on the market. Last month the penthouse of the supertall skyscraper Central Park Tower — which claims to be “the highest residence in the world” — hit the market for a record-breaking $250 million. The sprawling 17,545-square-foot, seven-bedroom, eight-bathroom palace is anchored by a massive floating staircase that undulates up three stories, kissing a landing here and a column there. Created by Adrian Smith + Gordon Gill Architecture, the white-oak stairs are surrounded by glass sides and glass windows so that they “glow pink and purple in the sunset and amber yellow in the morning,” notes Loy Carlos of Serhant, who is listing the unit with the firm’s founder Ryan Serhant. “You can put a floating staircase in the middle of any room and rather than an obstruction, it becomes a piece of art that changes from every angle you look at it.”

Thinking outside the box

Interior of 1 Sutton Place’s minimalist penthouse. — Provocative art — and a block-long terrace — make a splash at 1 Sutton Place’s minimalist penthouse, listed for $37.5 million.

If you thought white-box luxury was getting mundane, there’s good news: Visionary designers are still creating bold apartments that are truly one of one. Guests arriving at the five-bedroom, six-bathroom penthouse of 1 Sutton Place are greeted by an enormous orange breast sculpture in the foyer. The all-white, symmetrical living room could almost be a lost Stanley Kubrick set. A stunning, otherworldly minimalism compliments art, art and more art throughout the 2,850-square-foot apartment. “The owner is a clothing designer and a true minimalist. She did a lot of the interior design herself,” says Tal Alexander, who is listing the apartment for $37.5 million, noting that it also boasts an outdoor terrace that runs for a full city block.

Interior of the Marquand penthouse. — Marquand Condominium’s triplex penthouse is listing for $33.5 million.

Meanwhile, the owners of the triplex perched at the top of the Marquand Condominium at 11 E. 68th St. created an equally distinctive abode using a darker pallet of African Saint Laurent marble — a black marble with lightning strikes of white and tan — as well as brown and black woods offset with pops of white and warm color. There’s even a Fritz Lang “Metropolis”-esque silver robot sculpture in the kitchen. The five-bedroom, four-bathroom, 6,189-square-foot apartment is listed for $33.5 million with Madeline Hult Elghanayan of Douglas Elliman. “The owners did the interior design work and this is their personal masterpiece,” Elghanayan tells Alexa, noting that many of the furnishings are custom and could also be included in the sale. “They were inspired by Peter Marino’s Dior store in Paris. It was raw space when they bought it and it took years to realize.”

Over in Chelsea, along the High Line, the owners of unit No. 4 at 521 W. 23rd St. tapped the award-winning design firm Gabellini Sheppard to turn their blank palette loft space into an airy, streamlined wonderland that flirts with the dividing line between art gallery and residence. You’ll find no tchotchkes here, just clean lines, huge walls, lots of light and stand-out decor. There’s a Swarovski crystal-encrusted Blossom Chandelier designed by Tord Boontje, a Bubinga wood dining table crafted by Miya Shoji, a George Nakashima-designed handwoven wool rug from Nepal and, of course, scads of contemporary art — all included in the $11.5 million sale.

Ernie Goldberg and Darren Kearns of Corcoran have the listings.

5 questions with broker and Bravo star Ryan Serhant

Ryan Serhant (inset), founder of Serhant. agency, is listing the penthouse of Central Park Tower for $250 million.

You recently listed the penthouse of Central Park Tower for $250 million — a NYC record. How will you sell it? A listing like this is the most personal kind of sale. If you have a $1 million listing, you can put it on the internet. A $250 million listing needs the precision of a heart surgeon and the creativity of an ad exec. It involves significant personal outreach, tapping into the most extensive network and creative exposure to engage the wealthiest buyers around the globe. It’s not easy. In 2020, you launched your own brokerage, Serhant.

Why? In 2017, I became the No. 1-selling real estate team in the history of New York. I had hit every achievement I wanted. But I always say, “I didn’t come this far to just come this far.” Launching my own brokerage was a mix of having new goals for myself, wanting to tackle more challenges professionally, and seeing a big opportunity.

Can you explain how Serhant. is changing the game? We are the most-followed real estate brand in the world across all social channels. We did over $1 billion in total sales volume last year and are on track to double that this year, and we did it through the influence and power of social media, which makes the “old guard” uncomfortable. Serhant. Studios was the first-ever in-house, full-service film studio dedicated to cinematic content for property listings and we have a digital education arm, Sell It Like Serhant, that has 12,000 enrollees across 110 countries. Most people outside of the biz know you from “Million Dollar Listing New York,” but you actually started your career as a soap actor.

Do real estate and acting have anything in common? They do, and I wrote a book on this: “Sell It Like Serhant.” My POV is that the muscles you use to be insightful and strong at sales are the same as the muscles you use to be empathetic and intuitive as an actor. To sell is to be human.

What keeps you so pumped? These days, I have too many people who depend on me. I can’t let them down now! We have a killer team of agents and content producers and engineers and marketers and they’re all doing amazing things. There’s a higher purpose — we all have a healthy disregard for the status quo, we are focused on the future, and we are all in it together. The potential of what we can create and the team keep me motivated now.