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Can a German city take London’s place? Frankfurt’s new ‘Mayfair’

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Can a German city take London s place? Frankfurt s new Mayfair
German sellers are holding off to see if the market will heat up
New York Weekend Edition /
(Pixabay)
Germany s financial capital has been looking to eclipse London since Brexit and now Frankfurt s residential market is making a similar bid to unseat the UK center.
The German city s Westend neighborhood is hoping to become the next Mayfair, a wealthy area in London, according to Mansion Global.
Homeowners in Westend are putting off selling to wait and see whether the market heats up as expectations that an increase in buyers from Brexit are coming. But they haven t arrived quite yet.
“My company’s commercial team is seeing increase in requests for office space but not much increased activity in residential sales because of Brexit,” said Engels Volker s Amin Aschdjai-Benissi to Mansion Global.
That said, however, home prices have risen by 10 percent in the past year with the average property selling at about $8,250 per square meter, though high-end homes can go for up to almost $18,000 per square meter.
“It’s not going to be an instant thing,” Aschdjai-Benissi said. “My guess is that high-ranking employees will rent first and if things work they might buy a base here in future.”
[Mansion Global] Erin Hudson
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The first rule of working with a billionaire buyer is: You do not talk about the billionaire buyer

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The first rule of working with a billionaire buyer is: You do not talk about the billionaire buyer
A look at how Michael Dell kept his record-setting One57 condo buy quiet
New York /
Michael Dell and One57
Michael Dell may have bought his $100.5 million penthouse at One57 years ago, but a strategy that included multiple nondisclosure agreements and pass-through entities allowed him to keep his identity a secret until last week.
Dell — who was represented by the Corcoran Group’s Leighton Candler in the sale — relied on a close network of agents, architects and others to keep his record-setting purchase a secret, a sign of how much value the country’s top earners have started to place on privacy when it comes to their real estate dealings, according to the Wall Street Journal.
“People don’t want people knowing what they spend,” Douglas Elliman broker Frances Katzen told the Wall Street Journal. “You almost have to channel the purchase through three different subsidiaries to hide the buyer, and most prefer to have some kind of gag order in place with the people they’re working with.”
The chief executive of Dell bought his condominium through the limited liability company, P89-90, and his attorney Andrea Riina signed every document related to the sale. He also does not seem to have taken out a mortgage on the building, further limiting the number of[……]

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Manhattan’s “super prime” luxury condo developments, ranked

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Manhattan s super prime luxury condo developments, ranked
Knight Frank report identified those with the highest average price-per-foot
New York /
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How to party without going to the party: Why some don’t even bother with the REBNY banquet

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How to party without going to the party: Why some don t even bother with the REBNY banquet
There’s more action outside the dinner, some say
New York /
A crowd at the cocktail hour before the REBNY gala (Credit: Adam Pincus for The Real Deal)
To be on the outside looking in isn’t a bad place to be at the REBNY gala.
Lingering in the lobby might mean a brush with Gary Barnett, a quick chat with John Banks, a laugh with Paul Massey. To get to the main event from the cocktail hour, industry bigwigs need to pass through a long open space on the third floor of the New York Hilton Midtown. And many of them aren’t eager to retire to the more confining Grand Ballroom, where assigned seats and instructions to stop talking through the awards ceremony interfere with primo schmoozing.
It’s like the game British Bulldog, but the gala attendees aren’t trying very hard to avoid being tagged. And some savvy attendees use the opportunity to get in the ticketed guests’ paths, networking without having to actually pay for a ticket, which goes for $1,200 a pop.
This is where all the action is, one real estate attorney, who asked not to be named, said shortly after the banquet began.
There were heaps of not-so-subtle signs that the event s organizers wanted to clear the area on Thursday night. A somewhat-perturbed voice rang over the loudspeaker, repeatedly urging[……]

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