Global Rebound in Economic Growth Fuels High-End Luxury Sales

As strong market reports on manufacturing, construction and contracts to buy new homes show renewed optimism, The Carlyle Residences, a development of The Elad Group of New York’s Plaza Hotel, sees an influx of international real estate buyers contributing to analysts’ reports.

Los Angeles, CA (Vocus) November 5, 2009

As strong market reports on manufacturing, construction and contracts to buy new homes show renewed optimism, The Carlyle Residences, a development of The Elad Group of New York’s Plaza Hotel, sees an influx of international real estate buyers contributing to analysts’ reports.

“The building appeals to many demographics,” says Tom Elliot COO of Elad Properties West, "and a high percentage of recent sales have been with foreign buyers."

The latest figures from the National Association of Realtors show that existing real estate home sales were strong in September, which means that conditions have improved for five of the past six months. Last month, sales were up 9.4 percent from the level recorded in August, and also 9.2 percent higher than the figures recorded in September 2008.

According to Valerie Fitzgerald, Exclusive Sales Agent at The Carlyle and author of Heart and Sold: How to Survive and Build a Recession-Proof Business (Simon and Schuster, 2009), “Buyers are back – but expectations are higher. No longer in a wait-and-see position, they are ready to buy but want better quality and a stronger investment value, which has forced the marketplace to re-evaluate, adjust and deliver on its promises.”

Celebrity residents like Larry King have chosen The Carlyle for it’s complete privacy, prominent location in the Wilshire Corridor’s “Golden Mile,” and luxurious amenities including private elevators for each residence, and amenities in collaboration with Fendi Casa offering residents a grand lobby, common spaces and private dining room, Sports Club LA health spa with lap pool, lush landscaping, as well as a wine cave, concierge services, valet and doorman.

A panel of the country’s leading real estate brokers will meet at The Carlyle on Thursday, November 5th to discuss the market upswing and discuss how this shift will impact the high-end luxury real estate market.

The Carlyle is located at 10776 Wilshire Boulevard, in Los Angeles, California. For more information, call 310.209.0000 or visit http://budurl.com/CarlyleResidencesLP

About The Carlyle
Located at the center of the Wilshire Corridor’s “Golden Mile,” The Carlyle Residences is a 24-story crescent-shaped luxury condominium tower with 78 private luxury residences ranging in size from 2,700-5,000 square feet, each with its own private elevator entrance. The Carlyle offers residences 24-hour white glove concierge modeled after a luxury hotel, and amenities including a fitness center designed by The Sports Club L.A., a private wine cellar and dining room, club room, a custom designed Chihuly glass sculpture and furnishings by Fendi Casa, as well a separate staff quarter units.

About Elad Properties
New York-based Elad Properties, owners and developers of The Carlyle, is one of the most active luxury-residence developers in Los Angeles and is among the world’s premier real estate organizations with a distinguished portfolio of outstanding properties. Most recently, they opened Elad Properties West, headquarters to add to their portfolio valued at approximately $7.5 billion.

Contact:
Laura Pitari
Lightbox PR
(310) 397.3616

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