Princeton Real Estate -What Is The Price Of The Views ?

As a New Jersey realtor I see continued demand for Princeton NJ real estate with a view.Princeton houses for sale with a view of lake Carnegie, continue to be in demand and command high prices. Older Princeton houses with a lake view are bought for $2+ million, then demolished to built new ones.

On  the weekends I have a totally different experience with real estate. I read New York Times.

New York Times weekend edition has been one of my favorite reads, since I came to this country 30 years ago.  All the Internet notwithstanding and hundreds of blog subscriptions later I am still looking forward to the Sunday New York Times.

One of the sections I read (call it living vicariously) is the real estate section. Come to think of it, I was reading this section long before I became a New Jersey real estate agent.  New York is a fascinating city, and living in Princeton, an hour away by train, I consider a great benefit.

Reading today's NYT left me conflicted. An article "Great Views: Priceless" describes the state of real estate at 15 Central Park West. According to the article, one resident of the new building, "a founder and senior managing director of Paramount Asset Management in New York, has said to have been offered 85 million for his 5,870 square-foot duplex. When asked to confirm this, Dr. Rosenwald said he had actually received five or six calls from brokers offering as much as 100 million for his apartment. He said he had turned the offers down".

Some Princeton homes for sale have beautiful views, and Princeton NJ real estate is by no means inexpensive. But compared to New York, we could be in a different country.

The astronomical prices of New York is not something new I discovered today. But this incredible disparity is even larger then I thought. I wonder where this could be leading.

What do you feel about this disparity?

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