Real Estate Trends

DRUMROLL PLEASE… You came, you voted, and now we’re pleased to announce the winner of our first-ever Building of the Year competition! Congratulations to the Kohn Pedersen Fox-designed, Continuum Company-developed 45 East 22nd Street tower which won the hearts of 29 percent of over 3,500 readers who came to cast a vote. We’re not sure if it was the champagne flute-like design that sold […]

December 18, 2014

Real Estate Wire: Downtown Brooklyn Landmark for Sale; All The Ways You Can Describe One57

The Dime Savings Bank has just hit the market. The building, located next door to Junior’s diner and owned by JP Morgan, could fetch more than $100M. [Crain’s] An ongoing struggle… Here are all the ways the New York Times has tried to describe One57’s sales. [NYO] Developer Ben Shaoul sells his West Chelsea townhouse for $8.5M. He […]

Real Estate Trends

Davis Brody Bond, Architects of 9/11 Museum, Will Design New NYU Building in the Village

A rendering of the NYU expansion plan

December 18, 2014

Davis Brody Bond, Architects of 9/11 Museum, Will Design New NYU Building in the Village

Architecture firm Davis Brody Bond is continuing their tradition of designing projects met with much controversy. First came the 9/11 Museum, then the Frick Museum expansion, and now the new NYU building in the Village. Davis Brody Bond will join KieranTimberlake in designing the university's new building on the Coles Sports Center site on Mercer Street between Houston and Bleecker Streets. The building is part of the highly contentious $6 billion, 1.9 million-square-foot NYU 2031 expansion plan. The development agreement allows NYU to develop only one parcel of land at a time, with Coles being the first.
READ MORE

December 17, 2014

Can PS109 Affordable Artists’ Housing Slow the Gentrification of East Harlem?

We all know the typical gentrification pattern–artists move in to a neighborhood and make it hip; they're followed by trendy coffee shops and cool vintage stores; rents rise; the artists move on to the next frontier. But what if the influx of artists to a neighborhood slowed gentrification? It sounds like an impossible premise, but it just might be taking shape in East Harlem. Fast Co. EXIST takes a look at El Barrio’s Artspace PS109, the project which has transformed an abandoned public school building in East Harlem into 89 units of affordable live/work housing for artists and their families and 10,000 square feet of complementary space for arts organizations. A whopping 53,000 creatives applied to live in the building, where studios will rent for as low as $494/month and two-bedroom units will go for $1,022/month. But isn't Artspace’s goal to break the gentrification cycle—"to preserve the cultural fabric of a small corner of Manhattan that’s starting to change quickly" by preserving its affordable housing?
Read more ahead

December 17, 2014

Real Estate Wire: Ridgewood Apartments Going for Over Half a Million; The Condo Replacing Clinton Hill’s White Castle

Units in a brand new five-story residential building in Ridgewood are going for $339,000 all the way up to $769,000. The listings have only been live a day and two units are already in contract. [Curbed] Here are some renderings of the condo replacing Clinton Hill’s White Castle on Myrtle Avenue. [Brownstoner] The Naftali Group has sold The Bergen for […]

Real Estate Trends

December 17, 2014

Vote for 2014’s Building of the Year!

There is no shortage of towers on the rise in Manhattan, but amongst these glass and stone beauties are a handful that stand head and shoulders (and several hundred feet) above the rest. A red hot real estate market and cutting edge building technology have paved the way for towers of both unprecedented heights and prices. But worthy of equal credit are the visionary developers and architects who dare to change the NYC skyline. Here we've handpicked 12 of the most newsworthy buildings of 2014; these towers boast groundbreaking designs and record-breaking (or soon to be record-breaking) prices. But we ask you: Out of the dozen, which deserves the title "Building of the Year?" Cast a vote above to help us decide which is 2014's most important tower! Extended by popular demand… Voting ends TODAY, December 12th at 11:59 PM WEDNESDAY, December 17th at 11:59 PM and we’ll reveal the winner on Friday, December 19th. And if you’re still torn between two (or all), jump ahead for the low-down on each, from height to 2014 news highlights.
More on each of the buildings here

December 16, 2014

Real Estate Wire: ‘Poor Door’ Building Has Private Pools; WeWork Now Worth $5 Billion

Check out the private pools at Extell’s “Poor Door” building, One Riverside Park. [Curbed] Co-working is cool! Shared workspace startup WeWork is now worth a staggering $5B. [WSJ] Not all of the city’s rising residential buildings are in a race to the finish line. This Brooklyn project has been stalled for nearly a decade. [NYT] Retail, […]

Real Estate Trends

Is 125th Street the Next 14th Street? Big-Name Developers Think So.

125th Street via jmd41280 via photopin cc

December 15, 2014

Is 125th Street the Next 14th Street? Big-Name Developers Think So.

14th Street, 23rd Street, 86th Street–there's no question that these east-west thoroughfares are some of the city's most bustling corridors of commercial, cultural, and residential activity. And 125th Street in Harlem could now be joining their ranks, a real estate trend dissected in a WSJ article today. Big-name NYC developers are cashing in on the street's transformation. Greystone & Co. bought a $11.5 million site through a bankruptcy auction earlier this month, where they'll put 75 market-rate and affordable apartments, along with ground-floor retail space. Across the street, Continuum Co. will add 700 residential units and 85,000 square feet of retail. Nearby, Wharton Properties has obtained funding for their 33,000-square-foot retail complex that will be anchored by Whole Foods.
READ MORE

Real Estate Trends

Arne Glimcher, One of World’s Most Powerful Art Dealers, Buys $5.6M Madison Square Loft

If you're familiar with the NYC gallery scene you definitely know the Pace Gallery and its founder Arnold "Arne" Glimcher, one of the world's most powerful art dealers, as well as a film producer and director. According to city records, Arne and his son Marc have bought a $5.6 million Madison Square loft at 117 East 24th Street. The contemporary space boasts four bedrooms and 4,000 square feet as well as 11.5-foot ceilings and plenty of wall space to display one's art collection, though we're not sure which of the father-son art dealing pair will be residing in the loft.
Take a look around

December 15, 2014

Real Estate Wire: Jean Nouvel’s MoMA Tower Gets a Teaser Site; New Extell Mega Tower Coming to Times Square

Jean Nouvel’s MoMA tower at 53 West 53rd Street is back on track and it’s got a teaser site. [Curbed] Extell may bring a mega tall hotel tower to Times Square. [NYDN] Gowanus is also hot with hotel developments. There’s a seven-story project joining the already sizable list of accommodations on the rise. [DNA Info] You’re not […]

Real Estate Trends

December 15, 2014

QueensWay Elevated Park Moves Closer to Reality, State Allocates $444K for First Phase

It looks like the city is one big step closer to getting its second elevated park. DNA Info reports that the state has just allocated nearly $444,000 to the design of the first phase of the QueensWay, an urban renewal project that would transform 3.5 miles of abandoned elevated railway into a park akin to the High Line. The money was awarded to the Trust for Public Land via Governor Cuomo’s $709.2 million Regional Economic Development Council initiative. The first phase will consist of the design of the "Northern Gateway," which comprises a 1.5-mile-long stretch starting at Rego Park. The park is set to extend from Rego Park to Ozone Park.
Find out more here

December 12, 2014

Real Estate Wire: Curious Pink Brooklyn House Wants $900K; Zaha Hadid Launches Teaser Site for Her High Line Condos

So bad, it’s good: Live in a bubblegum pink house in Gravesend, Brooklyn for $900K. [Curbed] Check out the teaser site for Zaha’s High Line condos. [520W28] Greenland, USA and Forest City Ratner will break ground on the second 100 percent affordable building for the Pacific Park Brooklyn development (formerly Atlantic Yards) on Monday. [6sqft inbox] Billionaire Steven Cohen […]

Real Estate Trends

December 12, 2014

Luxurious Upper East Side Townhouse Fetches Impressive $9M

Massive townhouses that have received a modern overhaul can often feel cold and museum-like, but this Upper East Side stunner has managed to maintain its warm, cozy feel after getting a state-of-the-art contemporary upgrade from two-family home to one. Located at 435 East 87th Street, the five-story, six-bedroom home just sold for an impressive $8.9 million, according to city records. It was built in 1901, but its 6,500-square-foot interior has been completely reimagined as the ultimate "luxury entertainers' home." The classic décor, along with touches of the home's history like crown moldings and a sweeping staircase, make it pretty clear why the new owners dropped such a pretty penny.
Tour the rest of the home here

December 11, 2014

Robert De Niro Buys $2.8M West Village Apartment

He's at it again, this time buying a $2.8 million West Village apartment at 32 Morton Street. Real estate lover Robert De Niro inked the deal for the two-bedroom penthouse loft along with his stepdaughter Drena, according to city records. A few months ago, De Niro made headlines when he moved into a $125,000/month rental at star-studded 15 Central Park West while waiting for the renovation to be complete at his Brentmore triplex. He also got some recent notorious attention for getting into a very public tax fight with the Hudson Valley town where he owns a 78-acre property. And let's not forget about his $250 million Barbados hotel project. With so many real estate balls in the air, it's hard to say if De Niro or his daughter will be living in the latest acquisition, but it would be the perfect downtown pad.
Check out the penthouse here

December 11, 2014

Real Estate Wire: Museum of Natural History to Expand; Bklyn House Is a New Bushwick-Themed Hotel

Lovers of the Museum of Natural History, rejoice! The city favorite will be getting a brand new addition in the form of a $325M research center designed by Jeanne Gang of Studio Gang. [NYT] Check out Bklyn House, a new Bushwick-themed hotel said to be inspired by the neighborhood’s “raw feeling of creativity.” [DNA Info] Cushman & Wakefield may purchase Massey […]

Real Estate Trends

December 11, 2014

Weather Anchor Sam Champion Sells Upper West Side Condo for $4.7M

Everyone’s favorite well-coiffed weatherman Sam Champion has sold his Upper West Side condo for $4.7 million, according to city records released today. Champion bought the 2,019-square-foot unit on the top floor of 45 West 67th Street in 1995 for $750,000, netting him an impressive $4 million profit on the sale. The 33-story building was erected in 1985 and […]

December 11, 2014

REVEALED: Interior Renderings for Robert A.M. Stern-Designed 520 Park Avenue

Robert A.M. Stern's 520 Park Avenue has already been called "the next 15 Central Park West," and like its Stern predecessor, 520 is an ultra-luxury development with a stately façade wrapped in stone. Set to be completed in 2016, it will rise 51 stories high, but contain just 31 units, one of which is the $130 million penthouse, the city's most expensive apartment. And though most of the attention has been on "the greatest apartment on the Upper East Side," the fanfare has now shifted to the first batch of interior renderings for the building. 520 Park's full website is now live, and not surprisingly, the residences have classic layouts, impressive Central Park views, and a host of high-end amenities.
Take the tour here

December 10, 2014

Real Estate Wire: Loathed UWS Church Conversion Rejected; A Sutton Place Condo for the Poorly Read

A plan to convert a historic Upper West Side church into condos gets a thumbs down from the Landmarks Preservation Commission. [Curbed] This Sutton Place condo features some wacky wallpaper masquerading as floor-to-ceiling bookshelves. [Curbed] New York is expensive, but it’s still the country’s most “livable” city. [Brick Underground] Is Queens the #1 travel destination in the […]

Real Estate Trends

December 10, 2014

Diane von Furstenberg’s Daughter Sells Gramercy Park Co-op for $4.2M

Tatiana von Furstenberg, singer, filmmaker and daughter of fashion mogul Diane von Furstenberg, has sold her luxury co-op at 1 Gramercy Park for $4,240,000, according to city records. She purchased the home in 2006, and since her address of record is in Los Angeles, perhaps she’s becoming a permanent West Coaster–or moving to her mother’s beloved […]

December 9, 2014

Lena Dunham Buys $4.8M Brooklyn Heights Condo

According to the Daily Mail, Girls creator Lena Dunham has scooped up a $4.8 million condo at 30 Henry Street in Brooklyn Heights, the former offices of the Brooklyn Daily Eagle–now known as The Heights. Despite the recent controversy over her memoir, 28-year-old Dunham is really moving up in the world. Not only did she reportedly get a $3.7 million book advance, but her first home in the neighborhood at 145 Hicks Street cost her only $500,000. She purchased her newest residence under a trust and still owns her one-bedroom pad. Dunham shares her new home with boyfriend and Fun frontman Jack Antonoff, who has been spotted on moving duty while Dunham is on her book tour. The four-bedroom corner apartment is completely elegant and modern, a sure sign that the "girl" is growing up.
More on Lena's big move

December 9, 2014

Real Estate Wire: Brooklyn Getting Its First Apple Store; $500K/Month Apartment Finds a Tenant

There’s a brand new Apple store coming to Williamsburg right along Bedford Avenue where the Bagel Store and Kings Pharmacy used to be. [NYP] The city’s most expensive rental, a $500K doozy at the Pierre, has found a taker. [WSJ] A look at the benefits of living in a NYC home that hasn’t been landmarked. [NYT] A One57 unit sells […]

Real Estate Trends

December 9, 2014

Don’t Forget, One World Trade Was Supposed to Be the Greenest Building in America

Since the opening of One World Trade Center just a few weeks ago, the world has been in an uproar over the design and the incredible cost of making New York's tallest tower a reality. But one feature that we all seemed to have forgotten was the promise that the tower would be the greenest building in America. A recent City Lab article looks at what went wrong, and why, in a race to meet contractual obligations to its anchor tenant, Condé Nast, the development dumped a major part of its plans to go green, currently leaving the building in a state of noncompliance.
Find out more here

December 9, 2014

Rosie O’Donnell Sells Chic Greenwich Village Penthouse for $9M