Real Estate Trends

October 2, 2014

Living in the Clouds: 50 New York Residential Towers Poised to Scrape the Sky (Part I)

It seems like every week a new residential skyscraper is being announced in New York City, just earlier this week the New York Times noted that a partnership between Steven Witkoff and Harry Macklowe is moving ahead with a redevelopment of the Park Lane Hotel at 36 Central Park West with an 850-foot tower. With the mind-boggling amount of residential spires poised to pierce the sky, here's a quick rundown of the tallest of the tall--the spindly bunch set to soar higher than 700 feet. Keep in mind that just 30 years ago, the tallest residence in the city was perched atop the 664-foot Trump Tower. Today, buildings are on the drawing board for more than twice that height.
See our list of the 26 tallest towers

October 2, 2014

Real Estate Wire: Listings Hit for 160 Imlay; Mega Mixed-Use Development Coming to Sunset Park

By Dana Schulz

Listings hit for 160 Imlay, the Morris Adjmi-designed conversion in Red Hook. [Brownstoner] Commercial building sales expected to top $52 billion this year, the highest since 2007. [Daily News] Jets owner Woody Johnson lists 834 Fifth Avenue duplex for $75 million. [New York Post] Developers bring back plans for mixed-use complex in Sunset Park. [Brooklyn Paper] […]

Real Estate Trends

<b>The New Upper East Side: Changes Are Coming Above 86th Street</b>

The Upper East Side isn’t just for your grandparents anymore. Photo by Ed Yourdon cc

October 1, 2014

The New Upper East Side: Changes Are Coming Above 86th Street

By Dana Schulz

There's been so much talk lately about how the Upper East Side is the next cool 'hood--this guy even says it's cooler than Brooklyn--and while that may be true (the neighborhood's got a Meatball Shop; is there really any use denying it anymore?), we have our sights set slightly farther north. The high 80's and 90's, clustered between Park and 1st Avenues, is a hot spot for young professionals who are looking for little more culture and a little less of the bro-tastic bar scene, as well as for just-starting-out families who want a community feel, but not the sky-high rents of Park Avenue and Museum Mile. A slew of new residential developments are popping up in the area, as are fun, independent restaurants and bars. And this piece of Manhattan offers almost just the same transportation convenience as the Upper East Side proper, but with lower rents and a calmer feel.
More on the new Upper East Side

October 1, 2014

Real Estate Wire: Durst Organization Acquires Astoria’s Hallets Point; 26-Story Tower May Come to Essex Crossing

By Dana Schulz

The Durst Organization has paid more than $100 million to acquire 90% of the Hallets Point residential-retail development along the Astoria waterfront. [Daily News] Landmarks OK’s residential addition for 121-year-old Upper West Side church. [Curbed] 26-story, mixed-use tower proposed for Victoria Theater site in Harlem. [Yimby] Handel Architects filed preliminary permits for a 26-story tower as part of […]

Real Estate Trends

October 1, 2014

POLL: Will Freshkills Transform Staten Island?

By Dana Schulz

Last week, we interviewed Eloise Hirsh, the Freshkills Park Administrator about her role in transforming 2,200 acres of reclaimed land at the former Fresh Kills Landfill on Staten Island, the largest landfill-to-park conversion in the world to date. Though it won’t be entirely completed until 2035, Staten Islanders are already visiting the park and enjoying its […]

Real Estate Trends

September 30, 2014

Makeshift Mansions: How Today’s Filthy Rich are Creating Homes of Epic Proportions

By Bonnie Clark

For Manhattan’s jet-set crowd, the 2010s are starting to look an awful lot like the 1900s. New York’s upper crust are embracing a return to the Gilded Age, moving out of their fancy penthouses, co-ops and lofts and into opulent single-family mansions. From Aby Rosen’s quest to build the largest private mansion on Park Avenue to Jared Kushner’s conversion of three former Brooklyn Law School buildings into single-family townhouses—the most affluent buyers are now on the hunt for New York’s ultimate trophy prize.
More on makeshift mansions

September 30, 2014

The Price of Parking: There’s More Than One $1 Million Parking Space in Manhattan

By Lauren Price

Car-owing New Yorkers can probably recite year-round alternative-side parking laws on cue, but most will also tell you how they loathe circling their block for 20 minutes, tracking which days to stay put, the inconvenience of babysitting a spot before the switch, figuring out a cluster of parking signs or, worse yet, arguing with a paid-for parking squatter. It often drives one batty. Yet, there is an option and that’s paying for a monthly but costly sliver of asphalt—hopefully an elevator ride away or at the very least, a quick walk a few doors down. However, the key word here is “paying” and if you live in New York, that slice of space could put you back a pretty penny, especially if you're shoveling out dollars for one in a new development. Unless you’ve been living under a real estate rock, there’s no doubt you’ve read about the $1 million dollar spaces at 42 Crosby Street’s garage in SoHo. Is this lofty price tag for parking a market first? Nope.
more on the price of parking here

September 30, 2014

Real Estate Wire: Karim Rashid’s HAP Four Hits a Pricey Snag; More High Line Condos Coming

By Diane Pham

HAP Investment Developers’ plans for a Karim Rashid-designed rental at 653-667 West 187th Street have hit a bump in the road—they’re missing the parcel at 653 West 187th Street. [TRD] 36 new condos are coming to the High Line and they’ll be designed by Brazilian architect Isay Weinfeld. [Curbed] A downtown development site at 112, 114, 116 and 118 […]

Real Estate Trends

September 30, 2014

Isabella Rossellini’s Daughter Buys Eerie $2M Fort Greene Townhouse

By Annie Doge

Elettra Rossellini Wiedemann, daughter of famed Italian actress and model Isabella Rossellini, has just picked up a $2.2 million Fort Greene townhouse, according to city records. And the beautifully historic, yet slightly disheveled home at 23 South Elliott Place would make the perfect backdrop for a fashionably eerie photo shoot (or some really good Instagrams). Built in 1870, and part of the Fort Greene Historic District, the five-bedroom home is currently configured as a two-family residence, but we're guessing Ms. Rossellini isn't going to be looking for roommates and will likely convert it back to a single-family dwelling.
Tour the historic, sepia-toned home here

<b>Goldilocks Blocks: Vanderbilt Avenue in Wallabout, Brooklyn</b>

Between hyper-developed hotspots, main drags in up-and-comers, and those genuinely avoidable areas, there can often be found a city’s “just-right” zones. They aren’t commonly known, but these micro-neighborhoods often hide within them real estate gems coupled with perfectly offbeat vibes. Continuing our Goldilocks Blocks series, this week we turn to Brooklyn.

September 29, 2014

Goldilocks Blocks: Vanderbilt Avenue in Wallabout, Brooklyn

By Michelle Cohen

The culturally rich, architecturally stunning Brooklyn neighborhoods of Fort Greene and Clinton Hill need little introduction. The Brooklyn Navy Yard to the north is busily growing as a start-up business incubator and creative and commercial hub. An “in-between” zone—the sort of area that engenders a question mark and a furrowed brow when perusing neighborhood maps—lies just north of Myrtle Avenue and south of the Navy Yard. Known as Wallabout, the area was named for Wallabout Bay to the north, much of which was filled in to create the Navy Yard in the 19th century. Unique among its neighbors, a block-long stretch of this border district feels more like a small-town side street than a growing urban crossroads.
Find out what makes this historic block so special, and why it’s likely to stay that way.

The Top 15 Family-Friendly Buildings in NYC

By Elijah Quinton

Last week, we talked to five families currently raising children in New York City’s many diverse and multifaceted neighborhoods about why they pick city living over the suburbs, and most of our readers agreed that they prefer an urban upbringing to the more "traditional" suburban childhood. But once you've decided to raise your children in the Big Apple, it can be tough deciding which neighborhood is best for your family. Many factors come into play: What are the best schools in the area? What amenities does the building offer? Are there playgrounds nearby? How secure is the building? And the list goes on. But to make the process a little easier, we've rounded up 15 of the best family-friendly buildings in New York City.
Check out our list here

September 29, 2014

Triangular Townhouse in Greenwich Village with Italian Renaissance Interior Sells for $5M

By Dana Schulz

Fashion director and stylist Alessandra Gambaccini (who goes by Sciascia) purchased her Greenwich Village townhouse at 45 West 12th Street in 1996 for $865,00, and has now sold it for a whopping $4,975,000. But it's not just the incredible profit Ms. Gambaccini made that makes this historic home stand out--it's also its unusual triangular shape, the result of having been built in 1846 diagonal to Minetta Brook, since covered over by the city. There are hidden remnants of the old creek all throughout the Village, and this Greek Revival townhouse is definitely one of the most storied. Sciascia spoke to the Wall Street Journal about her fascinating home and how she was rather intrigued by its unusual shape. The four-bedroom house is also noted for its opulent interior, outfitted with custom-made Italian décor thanks to Milan-based architect and decorator Roberto Gerosa. And if those weren't enough talking points, the deed to the cobblestone courtyard is said to have once been owned by English royalty, and Frank Lloyd Wright's sister is a past inhabitant.
Now, let's check out those interiors

September 26, 2014

Real Estate Wire: A Look Inside the Woolworth Condos; Another Tall Residential Tower for DoBro

By Diane Pham

A first glimpse inside the new Woolworth condos. [NYT] The penthouses at Tribeca’s Seven Harrison have hit the market. [CityRealty] This block near the final section of the High Line is real estate gold. [TRD] Downtown Brooklyn’s skyline is a getting another tall residential tower. This one will rise 65 stories at 420 Albee Square. [Brownstoner] […]

Real Estate Trends

September 26, 2014

New Exterior Rendering Released for 60 Water Street Rental Project in DUMBO

By Dana Schulz

Two Trees Management Company has revealed an additional, close-up exterior rendering and a teaser website for their new rental development 60 Water Street in DUMBO, which is nearing completion. Designed by LEESER Architecture and Ismael Leyva Architects, the building will begin leasing in the coming weeks, though pricing and interior images have not yet been released. The façade stands out in the former-industrial neighborhood thanks to glass curtain walls with angled windows.
Get a closer look at the glass pattern and entrance

September 25, 2014

Timeless Trophy: 740 Park Avenue

By Dana Schulz

New York City may have an ever-revolving cast of hottest restaurants, hippest clubs, and even most desirable neighborhoods, but some real estate titans never go out of style in this metropolis. Known as the "Tower of Power," 740 Park Avenue is one such mainstay. The Upper East Side 19-story, Art Deco building was completed in 1930 to the designs of Rosario Candela, often considered the finest architect of luxury apartment interiors, as the last of the grand dames erected along Manhattan's Gold Coast. It didn't reach its peak until the real estate boom of the 1980s, but is today one of the most sought-after addresses with 31 apartments, mostly all duplexes, triplexes, and penthouses. The massively scaled residences feature grand living rooms, formal dining rooms, spiral staircases, high ceilings, expansive foyers, and an abundance of windows.
Plenty more on this timeless trophy residence and its long list of well known inhabitants

September 25, 2014

Real Estate Wire: Ridgewood Sees a Rise in Property Sales; 57th Street Supertalls

By Diane Pham

The rise of Ridgewood continues. The neighborhood has seen a surge in the sales of commercial properties. [NYO] Meryl Streep’s model daughter has bought a South Williamsburg pad. [NYDN] Mario Testino just purchased a pricey apartment at the Herzog & de Meuron-designed 215 Chrystie Street. [TRD] Penthouses with decks are coming to a former hospital. [DNA […]

Real Estate Trends

September 24, 2014

Real Estate Wire: A $400 Million Offer for One Vanderbilt; Three New Towers Coming to the High Line

By Diane Pham

Three new residential towers are coming to the High Line. [TRD] In what some are calling a PR stunt, the owner of Grand Central has offered SL Green $400 million for One Vanderbilt. [NYT] Manhattan commercial real estate is the top ranked in the country. [AMNY] Ridgewood, Queens, the hot new neighborhood dubbed “Quooklyn,” had […]

Real Estate Trends

September 24, 2014

REVEALED: Beekman Hotel and Condo Interiors

By Dana Schulz

Last month, pricing and exterior renderings were released for the much-anticipated Beekman Hotel and Condo conversion project. The long-shuttered historic structure (originally known as the Temple Court Building) will be topped off with a 51-story condominium tower adjacent to the 1883-built landmark and its famous atrium. It will contain 68 residential units designed by Thomas Juul-Hansen. The building's lower levels will house 287 hotel rooms. Now, Curbed has received the first reveal of the interior renderings, and they do not disappoint. From the modern apartments with Woolworth Building views to the luxe amenity areas, the rooms at 5 Beekman Street exude luxury and prestige. One of the most impressive interior shots is of the atrium, which extends through all nine stories of the original Terra Cotta structure and is topped off by a large, pyramidal skylight. It will be a lounge by Tom Colicchio known as the Living Room, the centerpiece of the hotel and a fine dining spot for residents and guests alike.
Tour the rest of the conversion, from the atrium to the roof terrace

September 24, 2014

$130 Million Penthouse at 520 Park Avenue Will Be the City’s Most Expensive

By Diane Pham

The Ritz Carlton penthouse combo has just been shoved from its top spot as the city's priciest listing and replaced by the triplex penthouse at Zeckendorf Development Co.’s 520 Park Avenue. At $130 million, it will become the most expensive to ever hit the market, beating out the Ritz pad by about $11 million. According to Bloomberg, the building's sales plan was approved by the New York State attorney general's office last week, and Zeckendorf is already calling the penthouse "the greatest apartment on the Upper East Side.”
More here

September 23, 2014

Real Estate Wire: Atlantic Yards Modular Tower Contract Terminated; New Colors for HAP 5?

By Diane Pham

Skanska has terminated its contract with Forest City Ratner to construct a prefab modular tower at the Atlantic Yards. The news brings a close to the seemingly never-ending dispute between builder and the developer. [NYDN] Red Apple Group is building a 32-story residential tower on Myrtle Avenue at Fleet Place. [MyrtleAvenue.Org] A new Pierhouse addition has preservationists up in […]

Real Estate Trends

September 23, 2014

Prominent Architecture Couple Buys Pretty-in-Pink Victorian in Ditmas Park

By Dana Schulz

We have a feeling well-known architects David H. Sherman, of Abelow Sherman Architects, and his wife Benita Welch, a Principal at Gerner Kronick + Valcarcel Architects, will give the interior of their new home a fresh coat of paint before settling in...that is, unless they like the current bubble-gum-pink color scheme. It makes perfect sense that the couple picked up this Victorian house in Ditmas Park for themselves and their two children, as Benita specializes in restoring historic homes, and David is known for his expertise working with NYC townhouses. According to city records filed today, they purchased 28 Waldorf Court for $1.41 million. Located just off Rugby Road (often considered the heart of Victorian Flatbush) on a highly desirable cul-de-sac, the five-bedroom home has been in the same family for 30 years.
Tour the home before it gets what's sure to be a beautiful makeover

September 22, 2014

Goldilocks Blocks: (Far) East 7th Street in Alphabet City

By Michelle Cohen

Between hyper-developed hotspots, main drags in up-and-comers, big-ticket townhouse enclaves, and those genuinely avoidable areas, there can often be found a city's "just-right" zones. Free from corner menace, sticker shock and boom-time developer schlock, these special spots often span only a few blocks in each direction and are close enough to the center of their 'cool destination' nabes to legitimately bear their names. They aren't commonly known, and are best found by pounding the pavement, but these micro-neighborhoods often hide within them real estate gems coupled with perfectly offbeat vibes—you just have to be willing to do a little legwork. But when you do find them, don’t sleep on them... Winners like the Columbia Street Waterfront District were once Goldilocks blocks. Today we'll look at a unique 7th Street stretch hidden in Alphabet City.
Find out what makes this Alphabet City block so special.

September 22, 2014

Oscar-Winning Director Errol Morris Buys a Poetic Brooklyn Heights Home for $1.9M

By Diane Pham

Academy Award-winning documentary filmmaker Errol Morris, and his poet wife Julia Sheehan have just closed on a charming three-bedroom at 22 Pierrepont Street in Brooklyn Heights for $1.9 million. According to city records, the couple will be following in the footsteps of another celebrated creative, having purchased the home from the estate of late Russian poet, 1987 Nobel Prize in Literature laureate Joseph Brodsky.
Inside the book-filled home here

September 22, 2014

Real Estate Wire: 15 CPW Pad Sells for 3x’s Its Purchase Price; Atlantic Yards Modular Tower Could Leak

By Diane Pham

A tower unit at 15 Central Park West has sold for nearly $10M, about three times what the owner paid for it. [NYO] The Astoria Cove housing development is required to set aside 20% of its 1,700 units for lower-income residents, but the city may push for as many as 30%. [Crain’s] The Fiscal Policy Institute […]

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