Search Result for 220 central park

Rendering of 212 Fifth Avenue by Visualhouse; Photo of Jeff Bezos via Wiki Commons

Amazon behemoth and richest person in the world Jeff Bezos has been making headlines in recent weeks for his $100 million donation to U.S. food banks. He’s also become $24 billion richer since the coronavirus crisis sent Amazon’s stocks surging. And it looks like he’s taking a very small percentage of that fortune and expanding his real estate investment in NYC. The Post reports that Bezos just dropped $16 million on an apartment in the Flatiron condo 212 Fifth Avenue. Last June, he bought three units in the building totaling $80 million, making it the largest deal to ever close in New York south of 42nd Street. Now he can create a mega-mansion in the sky.

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Photo of Woodlawn Cemetery by Ted via Flickr/cc 

A housing lottery launched on Thursday for placement on a 20,000-person waiting list for a number of rental properties in the East Bronx. Found across the neighborhoods of Williamsbridge and Wakefield, the location of the buildings stretch from Woodlawn Cemetery to about Pelham Bay. New Yorkers earning 50, 85, 90, and 95 percent of the area median income can apply for the apartments, which range from a $1,106/month one-bedroom to a $2,074/month three-bedroom. Eligible applicants will be randomly selected and placed on the waitlist for future vacancies.

Find out if you qualify

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15 ways to celebrate Women’s History Month in NYC

By Devin Gannon, Wed, March 4, 2020

What better place to celebrate women than in New York? The state hosted the country’s first women’s rights convention in 1848, Union Square held the first large-scale suffrage parade in 1908, and New Yorkers came up with the idea to honor women for one month every year. This Women’s History Month, which marks the 100th anniversary of women’s suffrage, honor the trailblazing New Yorkers who forged the paths for feminists today with lectures, art exhibits, and bites from women-owned vendors. Ahead, find our favorite events, from a Wikipedia edit-a-thon at the Museum of Modern Art to a trolley tour of Woodlawn Cemetery.

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220 Central Park SOuth, Vornado, Robert A.M., Stern

Image courtesy of Vornado Realty Trust and Robert A.M. Stern Architects

Last month, the city’s Advisory Commission on Property Tax Reform revealed a report outlining sweeping changes to the property tax code that would essentially raise the same amount of money but substantially redistribute where it comes from. Under the current system, property owners pay taxes based on assessed value rather than market value, so working-class homeowners often pay a higher tax rate than those who can afford the city’s multimillion-dollar luxury condos. Mansion Global took a closer look at the numbers and found that property taxes along Billionaires’ Row could increase up to five times their current rate under the proposed system.

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trump tower, real estate values

Photo by Krystal T via Flickr cc

In November, 6sqft shared data that showed sales at Trump Tower were still in a post-2016 slump, but year-end figures show that the decline is a larger trend across Trump-branded buildings in NYC. According to CityRealty’s annual Manhattan Year-End Report, “In the third full year of Donald Trump’s presidency, the average sales price for the 11 Trump-branded condos in Manhattan once again fell below the Manhattan condo average.”

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6SQFT’S TOP STORIES OF 2019!

By 6sqft, Tue, December 31, 2019

As we wrap up 2019, 6sqft is taking a look back at the top stories of the past 12 months in topics like apartment tours, new developments, news, and city guides. From a rare look inside a 220-square-foot Chelsea Hotel SRO to guides to the city’s best museums to plenty of news about the newest openings at Hudson Yards, these are the stories that readers couldn’t get enough of.

See the full list here

Ultra-high-end sales defined the 2019 real estate market

By Dana Schulz, Fri, December 27, 2019

Looking north towards Billionaires’ Row in early October © 6sqft

Throughout the year, there was much speculation that the real estate market was on a decline, but according to CityRealty’s annual Manhattan Year-End Report, ultra-high-end sales continue to keep the market strong. On par with 2018’s 228 sales, this year saw 221 sales at $10 million or more, totaling $4.6 billion, up from last year’s $4.2 billion. As CityRealty tells us, this is “largely due to big-ticket purchases near the southern end of Central Park, most notably at 220 Central Park South,” which accounts for one-third of that total, as well as a glut of new development condos coming online.

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220 Central Park SOuth, Vornado, Robert A.M., Stern

Via Vornado Realty Trust and Robert A.M. Stern Architects

Despite some trepidation about the luxury sales market, the year is finishing strong, at least near Billionaires’ Row, which was just named the most expensive street in the entire world. As the NY Post first reported, property records filed today show a $92.7 million penthouse sale at 220 Central Park South, making it the third-most-expensive NYC sale ever, behind billionaire Ken Griffith’s $238 million purchase also at 220 CPS in early 2019 and Michael Dell’s $100 million buy at One57 in 2015. Though it was purchased by an anonymous LLC, the Wall Street Journal uncovered that billionaire hedge-funder Daniel Och is the buyer.

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Looking north towards Billionaires’ Row in early October © 6sqft 

A new study of the top “ultra-prime” locations in the world dispels any doubt that Billionaire’s Row is living up to its name. London-based property consultancy Knight Frank, along with Douglas Elliman, looked at the number of homes sold for over $25 million since 2015 and found the greatest concentration along Midtown’s 57th Street, where 41 transactions have been closed in the last five years at an average price of $38.5 million. Manhattan cracked the top ten three more times, with Central Park South coming in third, followed by Park Avenue and Fifth Avenue in fourth and seventh place.

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NYC real estate experts offer their 2020 predictions

By Emily Nonko, Mon, December 16, 2019

NYC skyline, Central Park skyline, Billionaires' Row

Photo by Leonhard Niederwimmer via Pixabay

In some ways, 2019 was a continuation of the past few years: political and global uncertainty loomed over the New York real estate market, development continued at a steady pace, and prices were as high as ever. (Oh wait — they were actually higher.) But the year also brought notable changes, from a total overhaul of rent and tenant protections, increased urgency in regards to climate change, an increasingly buyer’s market, and dry-up of the once pervasive rental concessions.

So what’s in store for the year ahead? Real estate experts believe sustained political uncertainty — particularly around an election year — could mean buyers proceed cautiously. The new rent laws will undoubtedly shape New York, as both the rental and condo markets tighten. Pre-war design will make a comeback in defiance of glassy modern architecture, while the focus on sustainability will increase and amenities will become more flexible.

Keep reading for the 6sqft’s full roundup of 2020 predictions.

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