Real Estate Trends

NYC supertalls all over town are weeping: 432 Park Avenue is officially the tallest residential building in the city as of today, topping out at 1,396 feet, and the second-tallest tower after One World Trade Center. Concrete on the highest floor of the Rafael Viñoly-designed building is being poured, probably as we speak, cementing (no pun […]

October 14, 2014

Willem Dafoe Sells His Lovely Perry Street Pad for $2.9 Million

After making a move on up to the penthouse this past spring, actor Willem Dafoe has shed his full-through third floor pad for $2.875 million, according to city records filed today. Dafoe originally purchased the two-bedroom co-op located at 67 Perry Street for $1.6 million back in 2005—meaning the actor made a tidy $1.28 million profit with the recent sale. The cozy home comes with exposed brick walls, a wood-burning fireplace, separate study nook with built-in bookshelves, and tranquil tree-top views from oversized bay windows.
Ihside the home here

October 14, 2014

Real Estate Wire: NYU’s $6B Expansion Moves Forward; All the Places That Have Been Compared to Brooklyn

NYU just got the green light for its $6B expansion. [DNA Info] All the places the New York Times has compared Brooklyn to. [City Lab] Just six months after buying a $99 million Williamsburg retail and residential property, developer Joel Schreiber has flipped for $106 million. [TRD] The 346 Broadway conversion will include a snazzy penthouse. […]

Real Estate Trends

October 14, 2014

Billy Joel Unloads Another Apartment at 128 Central Park South

Piano man Billy Joel has just sold off his one-bedroom pad at 128 Central Park South for $775,000, according to public records. The sale is the second for Joel at the building, the first being an $11 million deal he struck last year for the two-bedroom, 10,000-square-foot penthouse he once shared with ex-wife Christie Brinkley. The one-bedroom is a comparably modest pad situated on a high floor of the building. An eat-in kitchen, abundant south light and city views are some of the perks, but the listing (now offline) noted that the home needed renovation. The apartment was previously rented out, though Joel and Brinkley did entertain it as a penthouse extension. The transaction was managed by Joel's accountants Gelfand, Rennert and Feldman. Adam Modlin of the Modlin Group brokered the deal.
See the floor plan here

October 14, 2014

Study Says QueensWay Will Cost $120 Million and Help Local Economy

A new feasibility study, which is set to be released today by the Trust for Public Land, maps out the plan for the QueensWay--the High Line-esque linear park and cultural greenway proposed for a 3.5-mile stretch of abandoned railway in central Queens. The study points to the likely $120 million price tag and the park's benefit to the local economy. Through new renderings it also shows access points, exercise stations, food concessions, outdoor nature classrooms, bike paths, and an "adventure park," among other amenities.
More on the study here

October 13, 2014

Real Estate Wire: The City’s Top Real Estate Projects; A Video from the Top of 432 Park

The 10 biggest real estate projects coming to the city. [TRD] Video views from the top of 432 Park Avenue, which tops out tomorrow. [NYT] Leasing starts at Naftali’s the Arthur, a luxurious prewar rental building located at 245 West 25th Street. [CityRealty] A 10-story parking garage will close along Fulton Street to make way […]

Real Estate Trends

October 13, 2014

Condos at Bruce Eichner’s Glassy Flatiron Tower Will Be Priced Up to $42.5 Million

It’s going to cost you at least $2.5 million to live at 45 East 22nd Street. In a recent profile on the up-and-coming building, the Times revealed pricing and some juicy details about what’s planned for glassy tower. One-bedrooms averaging 1,074 square feet will be going for 2.5 mill, while the penthouse may go for as much as […]

October 13, 2014

7,000-Square-Foot Soho Penthouse Sells for $10M

As far as Manhattan apartments go, even penthouses, 7,000 square feet is palatial. And with 16 rooms, 13-foot ceilings, and a 2,600-square-foot planted terrace with rooftop kitchen this duplex penthouse takes the cake. Located at 54 Thompson Street in Soho, the home was featured on HGTV's "Selling New York." It was designed by architects Adam Yarinsky and Stephen Cassell of ARO and published on the cover of Interior Design magazine. The mesmerizing penthouse has now sold for an impressive $10.35 million, according to recently released city records.
More on the multi-million-dollar digs

<b>Living on Hallowed Ground: NYC Religious Buildings Being Converted to Luxury Housing</b>

The Anshei Meseritz  Temple soon to be turned into condos © LuciaM via Panoramio

October 10, 2014

Living on Hallowed Ground: NYC Religious Buildings Being Converted to Luxury Housing

By Bonnie Clark

New Yorkers know it often takes some divine intervention to land a great apartment. Luckily, with dozens of churches and synagogues now being partially or totally converted into luxury residential buildings, high-end apartment hunters can go straight to the source. As congregations grapple with changing demographics, shrinking memberships, and costly upkeep of historic buildings, many religious institutions are concluding that it makes better financial sense to sell off a portion of their development rights, relocate to a more affordable site, or even close their doors for good.
Here's a look at New York’s hottest and holiest developments

Real Estate Wire: 432 Park Officially Tops Out Next Week; Don’t Blame Foreigners for Rising Prices

The Vinloly-designed tower at 432 Park Avenue will officially top out next week. The buidling is the tallest residential tower in the Western Hemisphere, and the second tallest tower in NYC. [Crain’s] BIG’s pyramid at 625 West 57th Street will also top out in the coming weeks. [NYDN] Foreign investors aren’t driving real estate prices up, […]

Real Estate Trends

October 10, 2014

NY Jets Owner’s Fifth Avenue Co-op Could Sell for a Record-Breaking $80M

Billionaire NY Jets owner, Woody Johnson is looking to break a record with the sale of his duplex at 834 Fifth Avenue. The unit, which was quietly being shopped around for $75 million, has gone into contract for $80 million. When closed, it will be the city’s most expensive co-op sale ever. This is clearly a billionaire’s game as […]

New 35-Story DoubleTree Hotel by Gene Kaufman Coming to Midtown West

Rendering of DoubleTree Hotel via Gene Kaufman (L); The project site at 350 West 40th Street (R)

October 10, 2014

New 35-Story DoubleTree Hotel by Gene Kaufman Coming to Midtown West

By Ondel Hylton

Fresh renderings have been posted for a new 35-story hotel currently undergoing excavation at 350 West 40th Street. Located just southwest of Times Square and directly across from the Port Authority Bus Terminal, the block-front between Eighth and Ninth Avenues has been the victim of a half-dozen mid-range hotels. With the large blank wall of the bus terminal on one side and an ungainly assortment of budget hotels, walk-ups, and parking lots on the other, the street may be a worthy contender for the "Ugliest Street in Midtown." The project was first revealed by YIMBY last spring. Permits call for a 315-foot, 594-room DoubleTree Hotel designed by Gene Kaufman and developed by Sam Chang of McSam Hotels. McSam--which already has several hotels up and running on the block including a Holiday Inn, Candlewood Suites, and Hampton Inn--has been one of the city's most active and notorious developers in the last decade.
More on the project here

October 9, 2014

Former R.E.M Frontman Michael Stipe Unloads Soho Penthouse for $9.6M

Michael Stipe, former lead singer for the 80's rock band R.E.M., has sold his duplex penthouse at 533 Canal Street in Soho for $9.6 million, according to city records released today. Stipe listed the co-op in June 2012 for $10.95 million, after purchasing it in 2007 for $5.75 million while it was being renovating. The unit has an impressive celebrity past; Stipe bought it from Ben Affleck's younger brother Casey, who bought it from “Good Will Hunting” director Gus Van Sant. And recently actress Kirsten Dunst put her penthouse in the building on the rental market for $12,500 a month. The three-bedroom penthouse has a light-filled central atrium, 2,500-square-foot terrace with Hudson River views, and an industrial-style kitchen designed by Mario Batali. Stipe had said that he was looking to move further downtown to a loft/work space for himself and his partner.
Take a look at the rockin' digs

October 9, 2014

Real Estate Wire: New Tower Near BAM Won’t Be Condos; 60 Water Street Launches Sales

60 Water Street launches its first listings for studios and one- and two-bedrooms. Prices start at $2,964 for a 452-square-foot studio, and run up to $6,678 for a 965-square-foot two-bedroom. Move-ins are expected for December 1. [6sqft inbox] The luxury apartments at 432 West 52nd Street in Hell’s Kitchen have also hit the market. [6sqft inbox] A […]

Real Estate Trends

October 8, 2014

Real Estate Wire: ‘Wolf of Wall Street’ Selling His Tribeca Home; $533 Domino Factory Rentals

The real-life “Wolf of Wall Street”, Alan Wilzig, is trying to sell his $4.5M Tribeca home on his own. [TRD] Domino’s first affordable rentals will be priced at $533 a month. [Brownstoner] Brandeis University is selling its Vanderbilt mansion for $33M. [WSJ] The landmark Lucerne Hotel will be getting a 13-story brick/limestone/terracotta-clad condo neighbor. [Curbed] Alan Wilzig […]

Real Estate Trends

October 8, 2014

Bunny Mellon’s Incredible Upper East Side Mansion Finds a Buyer for $41M

After a year on the market, this incredible Upper East Side mansion designed by Bunny Mellon has finally found a family ready to call it home. According to the Observer, the 1960s townhouse currently owned by Irish businessman Tony White and his wife Clare just went into contract for $41 million. The couple originally paid $22.5 million for it in 2006, and when it came time to resell last year, they asked an impressive $46 million. Pricey? Yes. But given its darling location and architectural splendor, why this beauty didn't fly off the shelf is a bit of a surprise to us. Just have a look inside and you'll immediately understand why.
Tour the stunning estate

October 7, 2014

45 Park Place: Tribeca’s Latest Condo Tower Could be an Architectural Stunner

By Ondel Hylton

New images have been uncovered of an upcoming 39-story condominium tower poised to rise from a storied site in Tribeca. Curbed first broke the rendering reveal back in July and a representative of the developers noted that tower depicted in renderings are not quite final. Nevertheless new images posted on of SOMA Architects' website give us additional glimpses of what the project could be. Simply known as 45 Park Place (for now), the development is comprised of a 665-foot tower luxury tower and an Islamic museum, is being developed by a consortium led by Soho Properties, headed by Sharif El-Gamal. The tower is being crafted by Michel Abboud of SOMA Architects, with Ismael Leyva serving as the architect of record. Renderings posted on SOMA's website convey a light, airy tower composed of stem-like volumes bundled by delicate bands of lattice-like mullions. The ground-level view gives us our first glimpse of the adjacent Islamic museum and prayer space reportedly designed by Pritzker Prize–winning French architect Jean Nouvel. A small plaza fronting the museum will expose a vegetated side wall of the neighboring building that houses popular downtown grocer Amish Market.
More on the development here

October 7, 2014

Million Dollar Listing’s Ryan Serhant Nabs a Love Nest at the Renwick for $3.7M

It looks like Ryan Serhant of Million Dollar Listing fame is preparing for his upcoming nuptials by buying a lofty love nest atop the Renwick Modern. According to The Real Deal, the reality TV star just closed on the full 9th floor penthouse at the 22 Renwick Street building for $3.7 million. The 1,895-square-foot apartment hosts three bedrooms, a home office, a top of the line kitchen, and keyed elevator access. And for that little bit of extra oomph, the kitchen cabinets are clad in leather.
Inside the home here

October 7, 2014

Real Estate Wire: Harlem’s Upcoming Tallest Building; Graffiti on the Rise Across NYC

Harlem’s soon-to-be tallest building at 1800 Park Avenue gets a new look. [YIMBY] Sunnyside residents want to add a bridge of affordable housing to join two halves of their neighborhood currently bisected by the LIRR and freight rail yards. [Curbed] Graffiti is back. More and more tags are appearing overnight across the city and graffiti-related […]

Real Estate Trends

October 6, 2014

Hilton to Sell the Waldorf Astoria Hotel to Chinese Insurance Company for $1.95 Billion

It's where the Waldorf salad was invented; it was the first hotel to offer room service; and it has its own railway platform to Grand Central, large enough to fit FDR's car. The historic tidbits about the Waldorf Astoria are plenty, but now the world-famous hotel is making big changes to its future. Hilton Worldwide Holdings, who has officially owned the Art Deco landmark since 1972, has agreed to sell the 1,232-room hotel to the Anbang Insurance Group Co., a financial and insurance company based in Beijing, for $1.95 billion. Hilton, the world's largest publicly traded hotel operator, will continue to manage the property under a "strategic partnership."
More on the plans here

October 6, 2014

Real Estate Wire: Eichner’s Supertall Gets a Cash Infusion; Is Gowanus the Next DUMBO?

Bruce Eichner has secured $420 million in financing for his 777-foot-tall Flatiron tower at 45 East 22nd Street. [WSJ] Is Gowanus the next DUMBO? [NYT] Sales launch at 173 Amity Street in Cobble Hill. [6sqft inbox] Say goodbye to the White Castle on Myrtle Avenue. Greystone has just acquired this and another Clinton Hill site for condos. […]

Real Estate Trends

October 6, 2014

Fashion Designer Elie Tahari Buys Two Units at 15 Central Park West for $25M

Israeli-American fashion designer Elie Tahari has snatched up two units at famed, Robert A.M. Stern- designed 15 Central Park West for a combined $25.25 million, according to city records released today. The pair of adjacent apartments was originally marketed for a total of $29 million. Tahari had previously been renting a three-bedroom unit in the star-studded building for $30,000 a month, but it looks like he's decided to make his stay more permanent, now occupying an entire private floor. Unit 9m has two bedrooms, 1,862 square feet of interior space, and 1,619 square feet of outdoor space. Unit 9G is a three-bedroom unit with 2,237 square feet inside and a spectacular 1,700-square-foot terrace. Both spaces appear to offer a pretty clean slate, perfect for the creative new owner to imbue his signature tailored, modern vibe.
Check out Tahari's new purchases

October 3, 2014

Real Estate Wire: Residential Developers Pulling Out of the Game; Rockaway Boardwalk Renewal Delayed

Related Companies is the latest landlord to ask property managers to turn in tenants for listing their apartments on AirBnb. [TRD] Another potential residential development site in Tribeca could fetch $50M. [Crain’s] A Hudson Yards strip club may be turned into a 46-story residential tower. [TRD] Are too many luxury buildings being constructed? Some developers are opting to […]

Real Estate Trends

October 3, 2014

One57’s First Flip Sees a $3.5 Million Profit Just Five Months Later