Apple's Big Bite: Steve Jobs's Influence on the City's Real Estate

NOVEMBER 29, 2011

Williamsburg Edge is #1 in sales; Steve Jobs’s big influence on the Big Apple; a peek inside some homes that changed hands in last year’s buying spree by foreign millionaires.

Edge leads the way: Massive Williamsburg waterfont condo Edge was recently ranked as the most successful New York City residential development in the third quarter of 2011(based on number of units sold) according to data from PropertyShark.com (via TRD), and also the most successful so far in 2011. The Edge reportedly sold more units by June 2011 than any New York City residential building did in all of 2010.

Apple’s big bite: This Apple fact sheet from The Real Deal follows the way Steve Jobs and Apple influenced New York City real estate, from the $1.1 million-per-year deal with the MTA that preceded the not-yet-open Grand Central Station in Midtown store to the fact that the glass-walled Fifth Avenue Apple store is reportedly the city’s fifth-most-photographed site (ahead of the Statue of Liberty).

Melting pot of gold: Business Insider gives us a brief tour of a handful of high-end properties bought and sold by foreign buyers last year—15% of the city’s home buyers are international, and they reportedly spent a collective $41 billion on property last year, including the $48 million that was paid for a 6,000 square-foot condo at the Plaza in Midtown West and Time Warner Center’s most expensive penthouse, located in the Central Park West neighborhood, once rented by rapper Jay-Z (BI).

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Apple's Big Bite: Steve Jobs's Influence on the City's Real Estate

NOVEMBER 29, 2011

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