real estate trends

Featured Story

Features, New Jersey, real estate trends

Photo of Weehawken via Michel G’s Flickr

Lin Manuel Miranda, the creator of the musical phenom Hamilton, tweeted in January that he changed three lyrics for the show’s London opening: John Adams, the Potomac River and Weehawken. According to Miranda, those words were too specific to America. According to Broadway Buzz, “Burr’s proposal of a duel in ‘Your Obedient Servant’ now specifically points to New Jersey rather than the town of Weehawken. The Broadway lyric “Weehawken, dawn, guns drawn” has become ‘New Jersey, dawn, guns drawn.’”

In July 1804, Alexander Hamilton was mortally wounded during a duel with Aaron Burr in Weehawken and died the following day in New York City. Tragically, Hamilton’s son was killed on the same spot three years earlier. One of the plaques in Alexander Hamilton Park describes many of the other unknown “duelists” who “all came to Weehawken to defend their honor according to the custom of the day. Located on the Hudson River, Weehawken does have a very “American” history but it should be highlighted, not diminished. Ahead, learn the ins and outs of Weehawken, from its historic waterfront parks and duel grounds to its burgeoning real estate scene.

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Featured Story

Features, NYC Guides, real estate trends, renting 101, stuff you should know

Photo via CityRealty

Foreign nationals from around the world are recruited to work in New York City, but when they arrive, they often realize that not everyone is eager to welcome them with open arms nor open doors. Indeed, while many employers from banks and tech companies to museums and universities are eager to recruit top global talent, most of the city’s rental management companies would prefer to rent to a pack of college students than a fully employed foreign national with a six-figure income.

So, what is an adult with a great credit history, full-time job, and in many cases, a family to do when they arrive in New York City? While foreign nationals likely can’t change the perception that renting to foreigners is a bad idea, there are a few ways to troubleshoot the housing market in New York City whether you were born in Toronto, Paris, or Tokyo.

Everything you need to know, here

real estate trends, Recent Sales, Tribeca

Photo via CityRealty

Despite suffering from a 30 percent drop year-over-year in median sale prices, Tribeca still managed to rank first as New York City’s most expensive neighborhood, followed closely by Soho. Property Shark released this week its list of the 50 priciest areas in the city in Q1 2018 and unsurprisingly, nine out of the top ten are located in Manhattan. Notably, the West Village witnessed an 88 percent year-over-year increase with a median sale price hovering $2.1 million. And the Flatiron District, which ranked as the most expensive neighborhood in the third quarter of 2017, fell to sixth place, with a median sale price of $1.85 million.

See the list

Featured Story

Features, real estate trends

The 15 best gyms in NYC residential buildings

By Michelle Colman, Thu, April 12, 2018

Jay Wright, founder and CEO of The Wright Fit, a gym design and management consultancy, is behind many of the gorgeous gyms in high-end NYC residential buildings, from 15 Central Park West to 56 Leonard. The Wright Fit has a very specific philosophy that guides their design and programming for their clients’ facilities. “That philosophy is called centerpoint strategy. The goal of is to create balance, functional longevity, and optimal quality of life for our clients and the residents of the building. We are trying to get people off of fixed path motion machines, where the actual machines define the path of motion, and teach people about their bodies. We like to challenge people to evolve their way of thinking.”

Wright says that time and proximity are the biggest barriers to working out. By creating gorgeous gyms in residential buildings, those two barriers are eliminated. So if you live one of these buildings with amazing gyms, let us envy you as you run down the stairs (forget the elevator) and start sweating. Ahead, we’ve rounded up the 15 best residential gyms that are getting New Yorkers’ heart rates pumping.

Check out our list without breaking a sweat

Featured Story

affordable housing, Features, People, real estate trends, Top Stories

Photo via CityRealty

It sounds like a dream come true. After a decade of living and struggling to pay your rent as a middle-income New Yorker, you get an email from NYC Housing Connect that says, “Invitation for Interview” followed by the address of the building to which you applied. For a moment, you are ready to break out the champagne and start celebrating the fact that that rent-stabilized, affordable NYC apartment you have always dreamt about living in—yes, that massive apartment that is only a fraction of everyone else’s monthly rent—is finally in reach. But then, like a lot of middle-class New Yorkers, you start to seriously consider whether you’re ready, willing, and able to accept what NYC Housing Connect is actually offering.

Hear from real New Yorkers who have turned down affordable housing

City Living, real estate trends, Restaurants

By 2020, the U.S. will have 300 food halls

By Michelle Colman, Wed, April 11, 2018

UrbanSpace Vanderbilt. Photo by Shinya Suzuki/Flickr

Between 2015 and 2020, the number of food halls operating nationwide will go from 70 to 300, finds a new Cushman & Wakefield report. This trend is very clear in New York City with 25 active permanent food halls and at least 10 others planned, or rumored, for the near future. Some of the most notable examples in the works are the TimeOut DUMBO food hall and the Essex Crossing’s Market Line (set to be one of the largest in the world), in addition to examples like the very successful Urban Space which opened another food hall only six blocks from one of its other locations.

What’s driving the trend

real estate trends, Upper East Side, yorkville

Photo via Ed Yourdon/Flickr

‘Tis the time of year for private school acceptance letters to arrive. Nervous teens and parents race to their inboxes and find out if they are given the honor of spending upwards of 50k a year on their children’s education, often at one of the Upper East Side’s highly prestigious institutions. At the same time, the starting gun sounds on the race to find an Upper East Side home to move to near school.

amNY reported that with the “private school bump,” not only do buildings see a jump in families moving their primary residences to the area but many see NYC residents buying “little studios for them and their kids for Monday through Friday just to be closer to the school so they don’t have to commute from Tribeca, the Lower East Side, or Chelsea.”

Hear from the pros

Featured Story

Features, real estate trends, stuff you should know, Technology

NYC skyline via Pexels; Bitcoin via Pexels

Just when you think you understand the world of cryptos, all you understand is how little you know. And when you do actually master a topic, it will change. Which is why to get you started, we’ve put together a 101 guide to cryptocurrencies and real estate transactions. From the technology behind digital currencies such as Bitcoin to their risks, the real estate market is ripe for potential when it comes to this burgeoning market.

Get your primer ahead

Featured Story

Features, Lower East Side, real estate trends

For many New Yorkers, the Lower East Side is one neighborhood that still has a lot of authenticity and good ‘ole New York grit left. It has been described as Manhattan’s “last frontier of cool. The promise land of old as well as new… Where the Godfather lives side by side with a hipster movie.” Put more tangibly by Benjamin Baccash of Taconic Investment Partners, the developer of LES’s Essex Crossing, “The Lower East Side has wonderful restaurants, art galleries, and a great street life. It’s a real neighborhood and that’s what a lot of people are looking for.”

In addition to great diversity, personality, and transportation, the city is undertaking huge improvements on the east river waterfront, and developers are erecting new developments at all corners of the ‘hood. Ahead, 6sqft takes a look at everything that’s keeping the Lower East Side a vestige of old New York during its contemporary resurgence, from massive projects like Essex Crossing to a booming art gallery scene.

As Irving Berlin once said, “Everybody ought to have a Lower East Side in their life.”

Central Park South, real estate trends, Technology

Photo via Wally Gobetz/Flickr

Cryptocurrencies make the wild west look tame. Yet despite their volatility, they’re becoming more of a presence in NYC real estate. Five days ago, when we reported on the first Bitcoin closings in Manhattan, the value of Bitcoin was $8,592. It is currently $7,999. According to a CNBC report, Chimera, a group of foreign investors interested in buying the Plaza Hotel, is considering offering partial payment for the transaction in a new cryptocurrency. Chimera has proposed the creation of the “Plaza Token,” an asset-backed securitized token, to raise more than $375 million. They are being advised about this initial coin offering by a company called Securitize. “This would give cryptocurrency investors the chance to diversify into luxury real estate and receive certain concessions inside the Plaza Hotel,” CNBC reports.

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