While we haven’t heard anyone singing “Happy Days Are Here Again,” just yet, signs of economic recovery are slowly surfacing in luxury markets.
British architect and Pritzker Prize winner, Lord Norman Foster, spent his summer closing on a few luxury properties on Fifth Avenue in New York City. On June 29, Foster, along with his wife, Lady Elena Foster, sealed the deal on unit 8B in a lavish prewar building between 72nd and 73rd streets. The deal answered the question that many were asking with Foster’s earlier purchase of the next-door unit at 8A, which at the time had many curious as to why such a revered architect would settle for one narrow unit with limited access to the spectacular views that Central Park has to offer. The answer soon became obvious with the purchase of the second unit located directly next door, as plans for expansion are certainly in the works.
Though neither of the Manhattan properties were officially listed for sale, records show that the Fosters secured the first luxury property for $6.7 million and the second Fifth Avenue abode for $7.2 million.
Lord Foster has had quite the busy year in 2009, apparently opting out of the recession scares that many fed into. In addition to his luxury real estate purchases in New York, the famed architect who has been a longtime pilot also launched the designs for the new fleet of Dassault Falcon 7X jets for the private aviation company, NetJets Europe.
Via The Real Deal