Hong Kong
Fifth Avenue World's Third Most Expensive Residential Street
With apartments fetching an average price of $7,500 per square foot, Fifth Avenue ranked third place in a new survey of the top 10 most expensive residential streets in the world from Barclay’s Wealth Bulletin. But if you thought top-tier residential prices in Manhattan were stratospheric, take a look at the two most expensive streets on the survey.
Avenue Princess Grace in Monaco ranked No. 1 in the survey with homes fetching an average of $17,750 a foot.
“Properties on the avenue change hands for up to $41 million – and many of them are fairly modest four-bedroom apartments,” the report said. read more »
Your Monthly Rent in Tokyo, London, Bangalore
Though the strength of the Euro has been largely credited with staving off a housing market nosedive in Manhattan, it is hitting expatriate American businessmen (and the multi-national companies they work for) stationed in cities like London, Hong Kong and Moscow hard, pushing already expensive rents into the stratosphere, according to Forbes’ survey of the most expensive international rental markets.
Mercer Human Resource Consulting checked out the median rent of Class A, unfurnished apartments, in high-end neighborhoods of commercial hubs around the globe and adjusted them from local currencies to the dollar. The “results spell trouble for businesses dealing in (greenbacks).”
Hong Kong, which ranked No. 1 in the survey, saw the median monthly rent rise from $4,898 to $6,398 between 2006 and 2007, when adjusted to the dollar. Tokyo was the second priciest market with a median rent of $4,102 per month. With a $1,000 rent increase year-over-year, Moscow ranked third, matching the $4,000 median rent in New York--the fourth most-expensive rental market. London rounded out the top five at $3,889. read more »
Commercial Market Spawns Crazy Soho Building Sale—$1,000 a Foot!
Art Scribe Opened Terrain; ‘He Was the Go-Between Guy’
Martin Scorsese, Now a Great Hong Kong Director
Carrère’s La Moustache: Are We Really Alone?
Carrère's La Moustache: Are We Really Alone?
MoMA, Guggenheim Sunk in Hong Kong
The Foster design.
The decision is a setback for several major museums. The Georges Pompidou Center in Paris and the Solomon R. Guggenheim Foundation and the Museum of Modern Art in New York had been vying for the right to run museums at the cultural center, which was to be several times the size of Lincoln Center.The proximate cause was the pull-out of local real-estate interests from the project, which is why officials are saying the project just needs to be tweaked out a bit to get back on track. But the Times cites longstanding objections to the project by Hong Kong artists, who felt too much control was being ceded to foreign arts institutions, and the public, which saw the project as a developers' boondoggle.
Tom Krens, whom we like to think of as a sort-of 21st Century Fitzcarraldo, had called the project "the most exciting opportunity in the world because of the scale and the location."
Sorry, guys.
Meanwhile, the Asia Society's frontman, former U.N. ambassador Richard Holbrooke, is having more luck: tomorrow, Robin Pogrebin reports, he'll announce plans to build a $52 million satellite in Hong Kong, at a Waldorf gala for the society. The designers are Tod Williams and Billie Tsien. read more »
- Tom McGeveran
