Real Estate Trends

Melissa Rivers will inherit mom Joan Rivers’ penthouse apartment at 1 East 62nd Street. [NYP] Vice’s expansion has taken another victim: Williamsburg’s beloved music venue Glasslands. [Gawker] A plan to build luxury condos on a toxin-laden Greenpoint site of a former plastics factory could kick up pollutants and poison kids attending a planned school nearby. [Brooklyn Paper] […]

Real Estate Trends

October 22, 2014

J.Lo Buys $22M NoMad Penthouse with Celeb Neighbors

Though she was recently spotted eying a $14 million Tribeca loft, it's rumored that J.Lo has inked a deal on a $22 million duplex penthouse in NoMad's Whitman Building at 21 East 26th Street. She may have decided to up her budget thanks to a two-year, $26.3 million residency deal in Las Vegas. Or perhaps it was the Whitman's A-list roster of residents that swayed her; her neighbors will include Chelsea Clinton and NASCAR's Jeff Gordon. Lopez's new digs feature four bedrooms, six bathrooms, and 3,000-square-feet of outdoor space spread over four terraces with views of Madison Square Park.
Take a look inside Jenny from the Block's new home

October 21, 2014

Real Estate Wire: Real-Life Owners of Sex and the City House Are Ticked; Richard Meier Penthouse Now $40M

Extell’s Gary Barnet shares how he scored the F.M. Ring’s prized Midtown South portfolio. Highlights include how he outmaneuvered the hostile sellers and competing offers. [TRD] The price tag on this Richard Meier penthouse has been upped to $40M from $35M. [Curbed] Sarah Jessica Parker has riled the owners of Carrie Bradshaw’s West Village townhouse […]

Real Estate Trends

October 21, 2014

It’s Official: Jets Owner Woody Johnson Sells Fifth Avenue Co-op for a Record Setting $80M

In addition to holding the record for highest purchase of a sports team in New York (he bought the Jets in 2000 for a whopping $635 million), Johnson & Johnson heir Woody Johnson now also holds the title for most expensive co-op ever sold in the city. His 11th/12th floor duplex at 834 Fifth Avenue has been […]

October 20, 2014

Churches Across Brooklyn Are Hot to Sell Their Holy Land for Millions

In the face of financial pressures, dozens of churches across Brooklyn are looking sell of their holy land in hopes of banking on the conversion trend that's taken the city by storm. According to DNA Info, more than 50 Brooklyn clergy members are looking to develop their land and air rights to offer more affordable housing and other community services. Hundreds of religious leaders attended a recent meeting hosted by Borough President Eric Adams detailing how they could raise money as their shrinking congregations give way to fundraising and budgetary constraints. “You are land-rich but cash-poor. The largest amount of housing potential in Brooklyn lies with you,” Reverend Gilford Monrose, director of the Borough President’s faith-based initiatives, said at the event.
Find out more

Real Estate Trends

October 20, 2014

Real Estate Wire: Forest City Selling Their Stake in Barclays Center; Re-zoning for One Vanderbilt Certified

Forest City Enterprises is putting its 55% stake in Barclays up for sale. [Brooklyn Eagle] The Department of City Planning certified a five-block rezoning application today for a stretch of Vanderbilt Avenue near Grand Central Terminal that includes SL Green’s One Vanderbilt tower. [CO] Mayor Bill de Blasio has rejected JPMorgan Chase’s request for $1B in […]

Real Estate Trends

October 17, 2014

Real Estate Wire: NYC is Filled with Illegal Greenhouses; Elle Macpherson UES Apartment

Is your apartment greenhouse illegal? Some New Yorkers are turning their greenhouses into extended indoor living spaces. [NYT] Elle Macpherson sells her pied-à-terre at East 68th Street for $2.4 million. [WSJ] More developments are coming to Renwick Street in northern Tribeca and people are loving it. [WSJ] Durst Organization is officially the new builder of Hallets […]

Real Estate Trends

October 17, 2014

Ruler of the Sharjah Emirate Buys at 15 Central Park West for $14.25M

Sultan III bin Mohammed Al-Qasimi, a member of the Supreme Council of the United Arab Emirates and current ruler of the Sharjah emirate, has just purchased an apartment at 15 Central Park West with his daughter Sheikha Bodour Bint Sultan Al Qasimi, the 34th Most Powerful Arab Women as noted by Forbes. According to city […]

October 17, 2014

Staten Island Ferris Wheel Project Will Include a Subway Simulation Ride

If Staten Islanders have felt left out of the subway rat race all these years, they’ll soon be able to get in on the action without leaving their home borough. The developers of the massive New York Wheel–the 60-story Ferris Wheel on the Staten Island waterfront set to become the tallest observation wheel in the world–have […]

Real Estate Trends

Mayor De Blasio Finds a Tenant for His Park Slope Home

All the buzz surrounding Mayor De Blasio's home has yielded some great results for NYC's First Family. Bill and his wife Chirlane McCray have rented their house to the first folks who came to check out the property located at 442 11th Street. De Blasio listed the Park Slope home less than two weeks ago through Brooklyn Properties for $4,975 a month. Let's take a look inside...
Find out more

October 16, 2014

New Proposal Could Pave the Way for a Harlem High Line Park

The success of the High Line Park continues to inspire all corners of the world—including Queens—and now the latest neighborhood to jump on the elevated park bandwagon is Harlem. DNA Info reports a nonprofit called the Housing Partnership has proposed a plan to bring 2,000 affordable housing units and $170 million dedicated to public projects in Hamilton Heights. The new park encompassed within the nonprofit's 'Harlem Promenade' plan would run alongside the West Side Highway atop a portion of Amtrak rail lines.
More on the proposed harlem high line project here

October 16, 2014

Real Estate Wire: 99-Year Lease Inked for Ice-Rink in the Bronx Armory; Campbell’s Soup Heiress Buys a New Pad

80-year-old Campbell’s soup heiress Hope van Beuren bought a $5M home at 1 East 66th Street. [NYDN] The city has signed a 99-year lease for the Bronx’ Kingsbridge National Ice Center, the highly anticipated ice-rink planned for the Bronx Armory. [CO] American Idol creator Rich Fuller sells two of his Plaza apartments for $38M. [NYP] Neiman Marcus CEO Karen […]

Real Estate Trends

October 16, 2014

REVEALED: Renderings for Santiago Calatrava’s Ground Zero Church

Ahead of the groundbreaking this weekend, a new video and renderings have been revealed for Santiago Calatrava's church near Ground Zero, which will overlook the 9/11 Memorial. The new St. Nicholas Greek Orthodox Church will be constructed of white Vermont marble, inspired by a mosaic of the Madonna and Child Enthroned at the Hagia Sophia in Istanbul.
More on the design here

Photo by brandon king cc

October 15, 2014

Bed-Stuy: From Harlem and Hip-Hop to Hipsters, Hassids and High Rents

Brooklyn is changing fast and at the forefront of this is Bedford-Stuyvesant—or as it's more commonly known, Bed-Stuy. Like most New York neighborhoods, Bed-Stuy has had its ups and downs, its most notable down being the 80s and 90s when crime and drugs were at a record high. But as hard as the times may have gotten, the neighborhood has maintained itself as one of the city's most culturally significant. Bed-Stuy has long been home to one of the largest concentrations of African-Americans in New York, it boasts beautiful well-preserved architecture spanning countless styles and centuries, and of course, there is the neighborhood's central role in the hip-hop movement.
More on the history and future of Bed-Stuy

October 15, 2014

75% of Grand Central’s $210M Renovation Money Will Go to the 4, 5, 6 Trains

New York City's most taxed line is about to get a sizable cash infusion. Of the $210 million that developer SL Green Realty has budgeted for improving Grand Central's subway station for the green light to construct a 65-story office tower next door, more than 75% will go toward the Lexington Avenue line, Crain's reports. Yesterday, a 63-page study was delivered to Manhattan's Community Board 5 and to transportation advocates who have called for Midtown East's rezoning to include improvements to transportation infrastructure to meet current demand as well as the influx of nearly 16,000 workers as new lines are drawn. So where exactly will the money go?
Where will the money will go?

October 15, 2014

CNN’s Don Lemon Buys Harlem Condo in 2280FDB

According to city records released today, Emmy Award-winning CNN news anchor Don Lemon has purchased a condo in Harlem's 2280FDB (2280 Frederick Douglas Blvd.) for $867,780. He already owns the neighboring unit, so this may be an expansion opportunity for the journalist. The newly acquired 859-square-foot, one-bedroom, contemporary unit comes complete with a spacious terrace, boasting impressive city views.
Take a look inside

NYU Gets Green Light for Village Expansion; Locals Vow to Appeal the Decision

A rendering of the NYU expansion plan

October 15, 2014

NYU Gets Green Light for Village Expansion; Locals Vow to Appeal the Decision

The battle between New York University and local residents and community preservation groups just got a little fiercer, as just yesterday the appellate court overturned a previous decision by the New York Supreme Court that prohibited the university's $6 billion, 1.9 million-square-foot expansion plan. NYU now has the green light to move forward with their colossal project, which includes taking over "implied park land" that has been used by the public for years. Local community groups vow to appeal the decision. The Greenwich Village Society for Historic Preservation, Assemblywoman Deborah Glick, NYU Faculty Against the Sexton Plan, Community Board 2, and local residents, filed the lawsuit against the school in 2012.
More on the latest ruling and what it means for NYU and the Village

October 14, 2014

It’s Official: 432 Park Avenue is NYC’s Tallest Residential Building

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