$1.7-B New York condo project launched in Manila

Impact International Ltd., a US-based real estate broker which has been selling to Filipinos since 1983, launched Wednesday (June 19) a New York luxury condominium before affluent Filipinos at the Shangri-La Makati Hotel, Makati City.

At the launching, Jerry Namero, senior partner of Impact International stressed that One Central Park Condominium is a piece of property that is a crown of jewel to luxury living.

The landmark project is the exclusive residential condominium of the AOL Time Warner Center – a $1.7-billion project occupying 1.37-hectare of land at New York’s Central Park.

Namero said the propety market in New York is up and buyers of the One Central Park could easily double their money on the investment by 2004, a year after the construction shall have completed.

"It was a successful launch," said Namero of the event citing at least a dozen affluent Filipinos have expressed interest to buy. "A similar sales blitz will also be undertaken by Impact International in other Asian countries like Hong Kong and Singapore," he said.

The center integrates the exclusive One Central Park Condominiums, the five star Mandarin Oriental Hotel, world-class shopping and fine dining shops and the global headquarters of AOL Time Warner.

There are 191 condominium units built on the 52nd floor to the 80th floor of the two 80-storey crystalline towers of AOL Time Warner Center. A unit fetches a price of as low as $1.9 million to as high as $10 million.