When the truth was revealed about the new Gramercy Green development (top left) at 23rd Street and Third Ave.?that it was pretty much only being marketed to Irish investors?we thought it was odd, and a little amusing. That was before we knew how deep this Irish conspiracy runs! OK, it's not really a conspiracy (unfortunately), but the Times has an interesting story today about the Irish brokerage Keane Mahoney Smith, and the developments its selling to overseas Irish investors.
Wondering who's actually buying in the Atelier (top middle) on far West 42nd Street, other than Nick Lachey? KMS has sold more than 60 apartments in the building. And the Centria (top right), near Rockefeller Center? KMS sold most of those apartments, as well. You can thank the weak U.S. dollar for the Irish influx, as well as those big Manhattan rent returns. The KMS website hints at a Tribeca development that will be put on sale soon. Maybe a struggling building looking to clear out some lingering units?
· An Irish Taste for Real Estate in Manhattan [NYT]
· Keane Mahoney Smith [kmscommercial.com]
· Rumblings Update: 23rd & 3rd Welcomes the Irish [Curbed]