Real Estate Trends

Andrew Franz Transforms an Old Soap Factory into a Tranquil Tribeca Oasis
November 5, 2014

Andrew Franz Transforms an Old Soap Factory into a Tranquil Tribeca Oasis

By
Architect Andrew Franz is known for his nature-inspired designs, and he has successfully infused his signature aesthetic into the tranquil interior of this Tribeca home. Franz transformed a 19th century Manhattan soap factory into what is now a gorgeous example of adaptive reuse. The designer's goal for this project was to create the feeling of being outdoors when inside the walls of the Romanesque Revival building, while also maintaining as much of the original structure as possible. By combining modern clean lines and open spaces with rustic wooden columns and raw brick walls, Franz creates a visual narrative celebrating the preservation of something old in the creation of something new and beautiful.
READ MORE
November 5, 2014

POLL: Can One World Trade Center Get to 100% Occupancy?

By

On Monday, anchor tenant Condé Nast moved into One World Trade Center. It was, of course, a significant day for many reasons, but it left a lot of people wondering if they would feel comfortable working in the 104-story tower. And since the building is currently only 58% leased, we want to know if you think One WTC […]

Real Estate Wire: Pearl Paint Building on Canal Sells to Vornado; Tips for Cohabiting Couples
November 4, 2014

Real Estate Wire: Pearl Paint Building on Canal Sells to Vornado; Tips for Cohabiting Couples

By

Vornado has purchased the Pearl Paint building on Canal Street for $16.4M. [TRD] Tips for couples cohabiting for the first time. [Brick Underground] The Brooklyn Public Library is pondering knocking down its one-story Sunset Park branch library and replacing it with an eight-story building boasting a bigger library topped with affordable rental apartments. [DNA Info] Checking in on the […]

Midtown Site of the Iconic Lutèce Restaurant Sells for $17M – Will It Be Demolished?
November 4, 2014

Midtown Site of the Iconic Lutèce Restaurant Sells for $17M – Will It Be Demolished?

By
These three townhouses may not look like much to you, but they've for decades been making appearances in pop culture, from the penned to motion pictures, including The Prince of Tides, Wall Street, Crossing Delancey, and most recently, Mad Men. Located at 249-253 East 50th Street, this site once housed the world-renowned Lutèce restaurant. Though today the structures can be described as dilapidated at best, that hasn't stopped a group of Chinatown investors from scooping up the properties for $17 million from East 50th Development LLC. Now in new hands, what's up next for this famed locale?
More details here
Staten Island’s Abandoned 45-Acre Farm Colony Will Be Revitalized to Include a Massive Public Park
November 3, 2014

Staten Island’s Abandoned 45-Acre Farm Colony Will Be Revitalized to Include a Massive Public Park

By
Staten Island's renaissance continues to move full steam ahead as the Landmarks Preservation Commission has unanimously approved the rehab of the long-abandoned poorhouse and farm located on the oft forgotten borough. Curbed reports that the New York City Farm Colony will be redeveloped into 350 units of senior housing with some retail space in a new eco-minded project called 'Landmark Colony'. The plan, which is being spearheaded by NFC Associates in cooperation with the New York City Economic Development Corporation and Vengoechea + Boyland Architecture was lauded for its site-sensitive design and ample green space.
find out more here
Real Estate Wire: 15 of NYC’s One-Block Streets; Great Ground-Floor Apartments
November 3, 2014

Real Estate Wire: 15 of NYC’s One-Block Streets; Great Ground-Floor Apartments

By

More Goldilocks Blocks; here are 15 one-block streets in NYC. [Untapped Cities] Great ground-floor apartments that aren’t dark and grim—like this one located in a former seminary. [Curbed] The case for the pied-a-terre tax: All apartments take advantage of major city services—be it police, fire, courts, or sanitation. It’s these city services that make New York City […]

Today’s the Day: Condé Nast Moves into One World Trade Center
November 3, 2014

Today’s the Day: Condé Nast Moves into One World Trade Center

By
More than nine years after ground broke at One World Trade Center, the tower's first and largest tenant, Condé Nast, is moving in. Though the media company will not complete its move until January, the relocation actually began last weekend when 2,800 orange crates full of files, photos, and books were carted downtown from the media company's Times Square office. Today, 175 employees will start their days at One WTC, the first wave of the 3,400 employees at 18 magazines. And as the New York Times notes, the scene they're encountering is much different than when construction began nearly a decade ago. As the number of financial institutions has declined, tech firms, advertising agencies, and media companies have made the Financial District their new home, along with a residential population of 61,000.
More on the big move here
Grave Concerns: Do Cemeteries Affect Real Estate Prices in New York?

Photo via Plowboylifestyle/CC

October 31, 2014

Grave Concerns: Do Cemeteries Affect Real Estate Prices in New York?

By
Not so surprisingly, Manhattan has a slew of cemeteries, graveyards and built-over potter’s fields (for unclaimed bodies). Madison Square Park was originally used as a potter’s field, as was Bryant Park. And though these swaths of land served many purposes over the years, it took an eternity before they were lovely public parks. From the late 1600s, burial grounds were generally confined to what would now be just south of City Hall, but more began popping up further uptown during the 1800s as the city’s population grew in leaps and bounds. With Halloween upon us, tis’ the season for checking out if living near one might give a buyer a bit of a ghostly scare or whether it takes an eternity to sell when the living room window overlooks tombstones marking coffins buried six feet under. Hear what experts say, and then learn about the city's most notable graveyards.
Do homes near cemeteries sell at a discount in NYC?
Real Estate Wire: Bjarke Ingels’ 57th Street Apartment Tops Out; Landmarked Dudley Townhouse for Sale
October 31, 2014

Real Estate Wire: Bjarke Ingels’ 57th Street Apartment Tops Out; Landmarked Dudley Townhouse for Sale

By

David Wolkoff, the developer of the residential building replacing 5Pointz, has sold his 791 Park Avenue home for $10M. [NYO] BIG’s 57th Street pyramid gets its topper. [Curbed] A Bowery development site sold for $45M. [TRD] The Port Authority has lost the $175M Hudson Yards tower deal. [Crain’s] Landmarked Dudley Memorial townhouse at 118 Amity Street in Cobble […]

October 30, 2014

POLL: Would You Live Next to a Cemetery?

By

In the spirit of Halloween, yesterday we took a look at whether or not living near a cemetery affects real estate prices in New York. Apparently, on average, homes close to cemeteries were slightly smaller, but sold for more due to a higher cost per square foot. And though this is what the research suggests, […]

Bruce Willis Buys $12 Million, 22-Acre Site in Bedford, NY
October 30, 2014

Bruce Willis Buys $12 Million, 22-Acre Site in Bedford, NY

By
Lots of Hollywood celebrities are making waves in Bedford, New York this week. Just after it was reported that Michael Douglas and Catherine Zeta-Jones sold their home in the woodsy Westchester town for $7.5 million, in turn closing on a nearby property for $11 million, it's now making headlines that Bruce Willis has dropped $12 million on two Bedford parcels totaling 22.32 acres. The actor has been very busy with real estate lately. He recently listed his Sun Valley ski house and Beverly Hills estate and bought a Central Park West apartment. Willis and his wife Emma Heming will now get to enjoy the 8,000-square-foot, shingle-style home, as well as the adjoining property's antique house and two renovated guest cottages.
Take a look at Bruce's Bedford digs here
Forget Showrooms, Developers Turn to Oculus Rift to Virtually Immerse Buyers in Pricey Properties
October 29, 2014

Forget Showrooms, Developers Turn to Oculus Rift to Virtually Immerse Buyers in Pricey Properties

By
Though more and more house hunters are back to buying off of blueprint in this hot real estate market, that hasn't stopped developers from tricking out their sales offices with hopes of trumping the competition. Ultra-detailed scaled models line spaces, and the priciest of couches and countertops fill life-sized mockups blocks away from the actual address. More recently, buildings like 50 West have built out entire theaters wrapped with screens intent on showing buyers the panoramic city views their shelling out millions for. Clearly, cost is not a concern. But watch out, there's a new group on the scene ready to really shake things up. Architecture visualization firm ArX Solutions has turned to a piece of virtual reality tech that everyone seems to be talking about: Oculus Rift. With their specially designed virtual reality tours, clients can see exactly what its like to walk through a home with all their sensations engaged. Cool? Absolutely. But this tour doesn't come cheap. Like the lofty homes it features, a trip with Oculus Rift rings in at a jaw-dropping $95,000.
Find out more about taking an Oculus Rift real estate tour
It Will Cost $32 to Visit One World Trade Center’s Observatory
October 29, 2014

It Will Cost $32 to Visit One World Trade Center’s Observatory

By
On Monday we learned that tourism is predicted to bring in one quarter, roughly $53 million, of the One World Trade Center's annual revenue by 2019. And now the much-talked-about ticket price to visit the three-floor observation deck of the tower, known as One World Observatory, has been revealed. It will cost $32 for an adult to visit the observatory when it opens in the spring of 2015.
More details and renderings of the observatory ahead
Will Bill Ackman Be Able to Pull off a $90M Condo Flip at One57?

One57 and the view from the $90 million penthouse

October 28, 2014

Will Bill Ackman Be Able to Pull off a $90M Condo Flip at One57?

By
It's true that One57′s first flip saw a $3.5 million profit in just five months, but that unit sold for $34 million the second time around. A selling price of more than $90 million is a different story--and that's exactly what hedge fund manager William (Bill) Ackman is hoping to achieve. In a profile in the Times on Sunday, Ackman was revealed as the buyer of the $90 million penthouse at the luxury building, which is sure to see its share of flips. But he also shared that he has no intention of ever living in the apartment. He'll stay with his wife and daughters at their current home in the Beresford and use the penthouse as a "fun" investment opportunity for himself and some good friends, perhaps hosting a few parties there in the meantime.
More on the planned flip here
Sportscaster Marv Albert Gets $15M for His Lincoln Square Apartment
October 28, 2014

Sportscaster Marv Albert Gets $15M for His Lincoln Square Apartment

By
Famed sportscaster Marv Albert has found a buyer for his sprawling penthouse located at 150 Columbus Avenue. The NYDN reports the "Voice of Basketball" and his wife, former ESPN producer Heather Albert, just inked a contract that points to a $14.9 million deal. The couple originally purchased the 3,553-square-foot penthouse back in 1996 for just $2.39 million, calling it their home for years before heading down to Tribeca—and turning this pretty sweet profit. The penthouse was listed just five months ago.
Inside the home
It’s Expected That Tourism Will Bring in 25% of One World Trade Center’s Revenue
October 27, 2014

It’s Expected That Tourism Will Bring in 25% of One World Trade Center’s Revenue

By
On Friday, news broke that anchor tenant Condé Nast will begin its big move in to One World Trade Center on November 3rd. And now we've learned that the Port Authority of New York and New Jersey, along with the Durst Organization, is predicting that one quarter, roughly $53 million, of the tower's annual revenue will be generated from tourism by 2019. The three-floor observation deck of the tower, known as One World Observatory, is expected to be visited by about 3.5 million people per year. Legends Hospitality LLC, the developer of the observatory, has not yet revealed what it will cost to visit the site, but it's expected to be on par with the Empire State Building, which received $101 million in 2013 from visits to its observatory (it costs $29 per person), 40% of its annual revenue.
Learn more about this prediction and the state-of-the-art observation deck here
Real Estate Wire: Brooklyn Lyceum Sells at Auction; Kiefer Sutherland’s Former Village Townhouse Lists Again for $20M
October 24, 2014

Real Estate Wire: Brooklyn Lyceum Sells at Auction; Kiefer Sutherland’s Former Village Townhouse Lists Again for $20M

By

A new type of post-recession real estate fraud is wreaking havoc on Brooklyn neighborhoods like Canarsie, East New York, and Cypress Hills. [Brooklyn Brief] Landmarked Brooklyn Lyceum sells at auction for $7.6 million. [Brownstoner] Appraiser Jonathan Miller looks at what would happen if we eliminated rent regulation. [Bloomberg] Kiefer Sutherland’s former Steven Gambrel-designed Greenwich Village […]

Billionaire Real Estate Developer Leonard Stern Sells Soho Penthouse for $15M
October 24, 2014

Billionaire Real Estate Developer Leonard Stern Sells Soho Penthouse for $15M

By
Leonard Stern, billionaire businessman and real estate developer and namesake of NYU's Stern School of Business, has sold his "ultimate Soho penthouse" for $14,650,000 according to city records released today. In April 2014, a year after Stern originally listed the apartment, New York Magazine released a video tour of the 4,315-square-foot, four-bedroom duplex, revealing everything from a zen solarium to a restaurant-caliber kitchen. Stern bought the penthouse of 459 West Broadway in 2010 for $14,250,000, but the small profit likely won't affect him too much since his net worth is estimated at $3.8 billion.
Check out the billionaire digs and watch the video tour
Real Estate Wire: Luxury Tower Rising Along the AirTrain; No Picket Fences for This Generation
October 23, 2014

Real Estate Wire: Luxury Tower Rising Along the AirTrain; No Picket Fences for This Generation

By

Someone is building a luxury residential building next to the AirTrain station. The Crossing, as it’s called, will host 580 units with roof terraces and a 24-hour doorman among other amenities. [DNA Info] “No Picket Fence”. New Yorkers in their 20s and 30s are increasingly looking for appealing rentals as opposed to buying, and developers are […]

Pitch a story icon

Pitch a Story

We love to hear from you!

"*" indicates required fields

Interested in seeing the property in person?

It’s free, with no obligation.

CityRealty Logo

"*" indicates required fields

or Call (212) 755-5544

Interested in seeing the property in person?

It’s free, with no obligation.

CityRealty Logo

Distinctive Post Form

"*" indicates required fields

or Call (212) 755-5544
Contact us image

Get in Touch

We love to hear from you!

"*" indicates required fields

Send us a tip image
Delivering New York stories focused on design, lifestyle & real estate.

Send us a Tip

We love to hear from you!

"*" indicates required fields

Interesting in learning more about purchasing a new home?

Let us know what you are looking for and we’ll help you find the home of your dreams. It’s free, with no obligation.

CityRealty Logo
or Call (212) 755-5544

Thinking about selling your home?

We’ll provide current market comps and connect you with a trusted expert.

CityRealty Logo

Sell a Home (Footer)

"*" indicates required fields

or Call (212) 755-5544

Before You Move On
from this Page.

Subscribe for NYC's Lastest Design, Lifestyle,
and Real Estate Trends!

No Worries. We Don’t Spam.

By providing your email address, you agree to our Terms of Use and Privacy Policy.
You can unsubscribe at any time.

Your Passport to NYC:
Subscribe for Local Insights and Stories!

No Worries. We Don’t Spam.

By providing your email address, you agree to our Terms of Use and Privacy Policy.
You can unsubscribe at any time.