Real Estate News: Ultra-Luxury Market Shows Strong Gains

Hunter Reed and Co., Inc.
House of the Day: The owners spent over a year redesigning this five-bedroom house in the Main Line suburbs of Philadelphia.

Here is a look at real-estate news from the weekend and today’s WSJ:

Ultra-Luxury Market Shows Strong Gains: The strongest segment in Manhattan’s market is on the ultra high-end. “Everything on Fifth Avenue that has a view is going in one or two days,” said Carrie Chiang, the top-selling broker in Manhattan at the Corcoran Group.

Dollar Slips on Poor Housing Data: The dollar stumbled against the euro and yen, after a U.S. housing report cast doubt on the strength of the economic turnaround. New home sales in the U.S. fell for the second consecutive month in February, helping push the euro up to its highest level in three weeks in Friday trading.

Desks Swapped for Beds: Five years ago, the 133,000-square-foot office building at 28th Street and Broadway was one of the many older office properties faced with obsolescence. Located in a gritty triangle north of Madison Square Park, it was occupied by small tenants and well past its prime.

Domino Sugar Fight Turns Sour: Nearly two years ago, Community Preservation Corp. won a hard-fought battle for city approvals to build 2,200 apartments on the site of the former Domino Sugar factory on a sprawling site on the Brooklyn waterfront. But work never started, and now it’s in a fight to keep a hold on the project, after defaulting on its debt late last year.

Hospitality Highs and Lows: What’s the top rated hotel in New York? According to world-weary out-of-towners, it’s not what you think. Our reporter visits the best and worst the city has to offer.

Beam Blamed in Columbia Construction Collapse: The subcontractor responsible for the demolition of a warehouse that was being cleared to make room for Columbia University’s expansion in Harlem said Friday the old age of the building and its unusual design led to a fatal collapse Thursday.

Open House: Cobble Hill Enclave is Fast Moving Market: When it comes to charming brownstone Brooklyn characteristics, Cobble Hill has pretty much got all the key requirements covered.

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