The historic building will be a part of a new condo development, along with a seven-story tower.
Younger generations (Y, Z, and Alpha) will represent 80 percent of luxury purchases by 2030.
Morgan Stanley reveals that luxury goods sales have increased by 24 percent in 2022.
The architectural home also has a floating helix staircase and is crafted with globally sourced materials.
The long-term health of the industry, however, is in good shape.
Called the Surfbarn, the abode fuses beachside luxury with modern farmhouse living.
Immaculate interiors perfectly frame the ocean views in this modern Japanese-inspired home.
The five-bedroom full-floor residence has the best ocean views on the property.
Millennials and Gen Z are using their disposable income on their favorite high-end brands, according to a Morgan Stanley report.