SOURCE: Sky View Parc

Sky View Parc

September 06, 2012 12:05 ET

Flushing, Queens Is Rapidly Evolving Into a Tertiary Market for Foreign Investors in New York City

International Brokerage Company Platinum Properties Goes to Seoul, South Korea to Host Exclusive Discussion About Thriving Neighborhood Flushing, Queens

NEW YORK, NY--(Marketwire - Sep 6, 2012) - Sky View Parc, downtown Flushing's luxury condominium, recently exhibited in Seoul, South Korea's financial center at the renowned commercial business buildings Kyobo Securities and Coex World Trade Center.

Platinum Properties' sales team held educational seminars which focused on properties such as Sky View Parc and Flushing, Queens as a tertiary market to invest in outside of Manhattan, New York. Sang Oh, President of Asia Operations for international brokerage company Platinum Properties, and Helen Lee, Director of Onex, the owner and developer of the mixed-use development Sky View Parc and Sky View Center, presented Sky View Parc at the seminar as a viable investment option.

"Sky View Parc and regional mall Sky View Center have set the precedent for similar forthcoming transformative developments such as Flushing Commons and Willets Point. With the support of the Economic Development Corporation and Mayor Michael Bloomberg, these projects are designed to bring convenience shopping and a new level of luxury residential living to Queens' residents," says Helen Lee, Director of Onex.

"Sky View Parc attracts many international buyers looking for high-end finishes. Its prime location in the heart of downtown Flushing appeals to a broad-based international buyer offering a multi-cultural living experience just steps away from one of New York City's fastest growing communities, cultural hub and sports destination."

In 2010 Flushing added jobs at a rate that outpaced all of New York City with total wages having increased by 16.9 percent since the onset of the recession. The total population has grown at a pace that exceeds the rest of Queens and most importantly for these investors, the median rent rose by 41.1 percent between 2002 and 2008.

"The foreign investor is savvy and more analytical than ever before. Investors are less concerned about a building's proximity to the Empire State Building or Times Square. They're becoming more speculative and willing to bet on a growing market like Flushing. They like what happened in Brooklyn and expect similar growth to take place in Queens," says Sang Oh, President of Asia Operations of Platinum Properties. "For a company like Platinum, where the focus is clearly on Manhattan, I think it speaks volumes that we're filling rooms with investors in South Korea that are interested in the growing dynamics of Flushing, Queens as evidenced by key indicators such as income and population growth."

Sky View Parc recently reached a major sales milestone with more than 65 percent sold of Tower One and Tower Three. Being one of the very few luxury condominiums in the heart of downtown Flushing, Queens, According to Onex, the developer is considering bringing Tower Two to the market sooner than expected due to the unprecedented high demand for luxury condominiums in the area. Prospective homeowners at Sky View Parc can choose homes ranging from 575-square-foot studios to 1,855-square-foot three-bedrooms, each offering oversized windows, nine-foot ceilings, hardwood floors, stainless steel appliances, marble baths, and washer/dryers. Prices range from studios starting at $375,000 to $835,000 for a three bedroom.

Sky View Parc is conveniently located above Sky View Center, an 800,000-square-foot multi-level shopping destination with retail stores including Target and Best Buy and soon to unveil a high-end department store.

The residential development consists of three residential towers overlooking a four-acre landscaped rooftop garden, offering an urban outdoor oasis complete with tranquil gardens, alfresco dining, barbeque grills, children's play area, a golf putting green and a dog run. Additional amenities include tennis and basketball courts, a stunning 8,000-square-foot residents' health club and spa, Sky View Parc Club. The Club includes a state-of-the-art fitness center featuring saunas and steam rooms, an entertainment lounge, a themed children's playroom.

The sales center is located on site at Sky View Parc at 40-22 College Point Boulevard. It is open seven days week, with several model homes showcasing the layouts available for viewing. To schedule an appointment, please call Platinum Properties at 646-770-0080 or visit www.skyviewparc.com.

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