The Setai, New York, one of New York City's most luxurious and exclusive condominiums, was named a winner in the category of best re-development in the U.S. by the CNBC International Property Awards; one of the largest and most recognized competitions for the residential industry worldwide. The ceremony and presentation of the CNBC Property Awards took place at a dinner gala on November 7, 2008 at the Ritz Carlton in Orlando, Florida. The Setai, New York joins last year's winner, The Plaza Hotel & Residences, as one of the best re-developed properties in the U.S. "With the booming development in the Financial District and New York City, it's a real honor that The Setai, New York has been chosen to be one of the best re-developments the U.S. offers," said Asher Zamir, principal of Zamir Equities. Now in its 14th year, the International Property Awards was held in association with the New York Times and received more than 500 entries in 2008 for 21 different categories for the Americas. Entries were judged by a panel of independent professionals chaired by Eric Pickles, British Shadow Secretary of State. The award committee announced the four and five-star winners of the Americas and International Property Awards in all categories. All five-star winners had the opportunity to run for the World's Best Award, which were also announced that night. For a full list of judges and 2008 winners, please visit www.propertyawards.net.