Real Estate Trends

454 Rugby Road Joins the Million-Dollar-Sale Club in Victorian Flatbush
August 13, 2014

454 Rugby Road Joins the Million-Dollar-Sale Club in Victorian Flatbush

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We tend to feature a lot of historic townhouses, and while we love these brownstone beauties, it's always a treat when we come across the less-common Victorian home. Not surprisingly, this charming, free-standing house is located in Ditmas Park West, part of what is known as Victorian Flatbush. Built in 1905, the home at 454 Rugby Road recently sold for $1,975,000 million according to city records, almost $100,000 above the asking price and not far behind another recent Rugby Road sale that was one of the most expensive in the neighborhood to date.
See why this painted lady is a deserving member of Victorian Flatbush's Million-Dollar Club
Michael Douglas Gets a New Neighbor with the Sale of This $8.6 Million Kenilworth Co-Op
August 13, 2014

Michael Douglas Gets a New Neighbor with the Sale of This $8.6 Million Kenilworth Co-Op

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Andrea Stern, daughter of real estate developer Leonard Stern, has just sold her ‘70s chic apartment in the Kenilworth for $8.575 million, according to city records. The new residents will not only be able to enjoy living in a home that looks like a pared down set for Behind the Candelabra; they’ll actually be able to call the made-for-TV movie’s star Michael Douglas, and his wife Catherine Zeta Jones, neighbors. But, as impressive as that sounds, we’re pretty sure the eight-room, corner apartment on the Gold Coast of Central Park West speaks for itself.
Take a look inside this throwback chic pad...
Real Estate Wire: How Many Jeans Do You Need to Sell to Afford Williamsburg’s Retail Rents?
August 12, 2014

Real Estate Wire: How Many Jeans Do You Need to Sell to Afford Williamsburg’s Retail Rents?

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How many jeans will Diesel need to sell to make rent at 101 Bedford? Greenpoint’s Andy Smith does a quick and dirty calculation. [Tremr] New York has only the 6th highest rents in the country. Apparently we lag behind behind San Francisco, San Jose, San Diego, Washington DC and Boston. Surprised? [Brokelyn] The 10 biggest real estate projects filed in […]

New Knicks President Phil Jackson Buys $5 Million Apartment at the Osborne
August 12, 2014

New Knicks President Phil Jackson Buys $5 Million Apartment at the Osborne

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When he hasn't been busy revamping the New York Knicks, Phil Jackson has been scoping out NYC real estate. And according to city records, the Knicks President purchased an apartment at the Osborne, 205 West 57th Street, for $4.85 million. Considered one of the greatest NBA coaches in history, Jackson spent many years with both the Chicago Bulls and the Los Angeles Lakers, but now he's jumping back into the New York City scene head first, having gotten his start with the Knicks in 1967 as a player. His new home was meticulously renovated by Ferguson and Shamamian Architects to preserve the original details of the landmarked 1883 building. Hand-carved mahogany pocket doors, inlaid oak and cherry floors, and stained glass transom windows are just some of the historic accents that make this three-bedroom apartment a true masterpiece.
Tour the rest of this basketball legend's new digs
Billionaire Peter Brant Buys an Incredible Converted Con-Ed Substation for $27M
August 12, 2014

Billionaire Peter Brant Buys an Incredible Converted Con-Ed Substation for $27M

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It's a common saying that money can't buy good taste, but Peter Brant proves that old adage doesn't apply to billionaires. According to city records, the American industrialist and businessman just closed on a former Con-Ed substation located at 421 East 6th Street for $27 million—$2 million above asking. Constructed in 1920 to serve the city's power needs, the building was altered in the 60s and again in the 80s to accommodate a live-work space for a famed sculptor Walter de Maria. Even with more than a century of history behind it, today the structure still keeps many of its original relics and the overall gritty aesthetic of its industrial past. As a lover of art himself, we're curious to know how Brant will go about redesigning the space—if he does. Brant, who also happens to be married to supermodel Stephanie Seymour, is the publisher of both Interview and Art in America magazines and has been previously been called a "Donald Trump with taste" by the New York Times.
learn more about the building here
Scoping Out Staten Island: New Developments in the Oft-Forgotten Borough
August 11, 2014

Scoping Out Staten Island: New Developments in the Oft-Forgotten Borough

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You won't find any Staten Island jokes or snarky references to secession here. No, we're celebrating the borough that so easily gets forgotten amid the shiny new towers of Manhattan and trendy culture waves of Brooklyn. But just because it might not make daily headlines, doesn't mean that Staten Island isn't in the middle of some pretty amazing developments. From the Staten Island Ferris Wheel to the borough becoming the next great tech hub, we've rounded up the cultural, economic, and architectural projects that are going to make you want to board the Staten Island Ferry in pursuit of your new home.
Check out our list and get ready to start packing
Light at the End of the Tunnel: The Second Avenue Subway Already Sending Real Estate Prices Soaring
August 11, 2014

Light at the End of the Tunnel: The Second Avenue Subway Already Sending Real Estate Prices Soaring

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Plans for a Second Avenue subway have been on the drawing boards since flapper dresses were all the rage. But not until now has this pipeline dream started to take shape. One of the hottest discussions among the locals is undoubtedly the new line, and according to the MTA, 65 percent of Phase I is now complete. When it debuts in December 2016, it is slated to carry 200,000 straphangers, which in turn will reduce overcrowding on the Lexington Avenue Line by as much as 13 percent (that’s 23,500 fewer passengers on an average weekday). Phase II will extend the line from 96th to 125th Street, and the MTA just announced that $1.5 billion (only a third of the total estimated cost) is now set aside with the hope that the federal government will chip in, too. But those who wonder when the 8.5-mile stretch of tracks (125th Street to Hanover Square), you’d better hold onto your hat—it's 2029! Though this is still 15 years away, that hasn't stopped the prices of properties flanking the SAS from riding high in anticipation.
Why buyers are looking at construction workers starry-eyed
Real Estate Wire: Puff Daddy Price Chops His Park Imperial Haven; More New Yorkers Installing Solar Panels
August 11, 2014

Real Estate Wire: Puff Daddy Price Chops His Park Imperial Haven; More New Yorkers Installing Solar Panels

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Puff Daddy, P. Diddy, Sean Combs—whatever you want to call him—has re-listed his 2,292-square-foot Park Imperial loft for $7.9M. The new listing sees a $500K price reduction. [Curbed] New York is lagging other major cities in its pace of residential construction. Permits for 17,995 new housing units were issued in 2013—a little more than half […]

Bloomberg L.P. CEO Dan Doctoroff Sells Upper West Side Mansion for $11 Million
August 11, 2014

Bloomberg L.P. CEO Dan Doctoroff Sells Upper West Side Mansion for $11 Million

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Looks like the De Blasios aren't the only mayoral figures making moves. Dan Doctoroff, former Deputy Mayor and current President & CEO of Bloomberg L.P., has sold his Upper West Side townhouse at 309 West 91st Street for $11.25 million, slightly less than the $13 million asking price from when the home went on the market in November 2013. He and his wife Alisa purchased the mini mansion in 1994 for $1 million out of foreclosure and then put millions into a gut renovation. The five-story, stately townhouse was built in 1896 by Clarence True, one of the most prominent architects on the Upper West Side around the turn of the century. It is one of a row of seven limestone masterpieces that feature True's signature low-stoop façade. The Doctoroffs had the home impeccably restored by architect Oliver Cope and designer Victoria Hagan, down to every last elegant detail, including four wood-burning fireplaces, a winding sky-lit staircase, and spectacular crown moldings.
Check out more of the 6,400-square-foot townhouse
Real Estate Wire: Hyatt Pays $390M for Full Stake in One57; Two Trees to Spend $10M to Preserve Domino Factory Relics
August 8, 2014

Real Estate Wire: Hyatt Pays $390M for Full Stake in One57; Two Trees to Spend $10M to Preserve Domino Factory Relics

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Two Trees Management is throwing down $10M to salvage industrial artifacts from the Domino Sugar Factory. [Curbed] A look inside Brooklyn’s John Street Condos. [Curbed] PRD Realty is trying once again to file a mixed-use rental plan for a site near the Barclays Center. The developer was rebuffed two years ago by neighbors who were against […]

Olympic Figure Skater Sasha Cohen Snags a Pretty Plain Waverly Place Pad for $1.6M
August 8, 2014

Olympic Figure Skater Sasha Cohen Snags a Pretty Plain Waverly Place Pad for $1.6M

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It looks like Olympic figure skater Sasha Cohen will be boxing up all her medals for a move to the West Village. According to city records, Cohen is leaving her Times Square pad for a corner one-bedroom apartment at 136 Waverly Place. Cohen dropped $1.595 million for the pre-war digs, which are much more quaint and simple that what we'd expect for the skating star who had a Project Runway episode dedicated to designing a skating dress just for her.
Peek inside the home here
Humberto Leon is Second Opening Ceremony Cofounder in a Week to Buy a Brooklyn Townhouse
August 8, 2014

Humberto Leon is Second Opening Ceremony Cofounder in a Week to Buy a Brooklyn Townhouse

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Last week we learned that Opening Ceremony cofounder Carol Lim picked up a $3.43 million Prospect Heights townhouse, and it looks like her partner Humberto Leon got a bit of apartment envy, because he too just purchased a brownstone in nearby Park Slope. The two fashion magnates met 19 years ago at the University of California, Berkeley and have been joined at the hip ever since, turning their brand into an international destination for streetwise style. So it's no wonder that their homes share a few similarities; both are four stories, have picturesque backyard spaces, and retain a good amount of historic details. According to city records, Leon nabbed his new digs at 758 Union Street for the asking price of $2.85 million.
READ MORE
Real Estate Wire: Dedicated Graffiti Space on the Condos Replacing 5Pointz; New Brooklyn Bridge Park Towers Get the Go Ahead
August 7, 2014

Real Estate Wire: Dedicated Graffiti Space on the Condos Replacing 5Pointz; New Brooklyn Bridge Park Towers Get the Go Ahead

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14 new proposals were unveiled for Pier 6 at Brooklyn Bridge Park yesterday, and despite local outrage over the development’s inclusion of affordable housing, the project will move ahead. [Curbed] 5Pointz site owners Jerry Wolkoff and his son David have released images of the space they’ve reserved for graffiti art. But will artists abide to […]

Beatrice Trussardi Buys Appropriately Fashionable Police Building Pad for $2 Million
August 7, 2014

Beatrice Trussardi Buys Appropriately Fashionable Police Building Pad for $2 Million

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Beatrice Trussardi does much more than sit alongside the runways at Fashion Week. In addition to running the internationally successful, Italian fashion label Trussardi that her late father Nicola Trussardi founded, she heads the Nicola Trussardi Foundation, a nonprofit that promotes contemporary art and culture. And now she can add "New York City homeowner" to her roster of titles. Ms. Trussardi just snatched up unit 3K at 240 Centre Street, the historic landmark known as the Police Building, for $2,147,500, according to city records. The one-bedroom Nolita apartment is chic and contemporary, and we'd expect no less for such a fashion-forward gal.                    
Check out the fashionable digs
Liberty Lofts Penthouse with Massive Master Suite Sells for $6 Million
August 6, 2014

Liberty Lofts Penthouse with Massive Master Suite Sells for $6 Million

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Compromise is so overrated. Why not just have it all? Well, when you live half a block from New York City’s most iconic park and equally close to the city’s cultural hub, having it all is more than just a dream. It’s a reality. And it appears that two New Yorkers have decided it’s a reality they want a piece of, because according to city records, they just paid $6 million for the Liberty Lofts Penthouse 9B.
See what having it all looks like, here
Performance Artist Marina Abramović Sells her Urban Glass House Apartment for $3 Million
August 6, 2014

Performance Artist Marina Abramović Sells her Urban Glass House Apartment for $3 Million

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You might have expected the apartment of Marina Abramović to be intense and dark with large, empty spaces for the world-renowned performance artist to create her highly experimental work, but instead her home is pleasant and light-filled with contemporary furnishings and pops of color. She's leaving the two-bedroom, corner unit at the Urban Glass House, though, as it's sold for $2.995 million, according to city records.
Take a look at the apartment here
Real Estate Wire: Ismael Leyva’s Design for a High Line Condo; Bed-Stuy Real Estate is Red Hot
August 5, 2014

Real Estate Wire: Ismael Leyva’s Design for a High Line Condo; Bed-Stuy Real Estate is Red Hot

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First look at the Ismael Leyva-designed, Related Companies-developed condominium planned for West 30th Street between Tenth and Eleventh Avenues, a site that overlooks the High Line Park. [Curbed] Jonathan Miller pinpoints two new records for NYC: The average sales price for NYC residential real estate (co-ops, condos and 1-3 family sales) reached a record $975,441 for 2Q 2014; […]

August 4, 2014

Mythbusters: Shedding Light on 80/20 Affordable Housing and ‘Poor Doors’

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There’s been lots of chatter on the street and in the media on the subject of “poor doors” in new developments for those who have qualified for affordable housing. And though this subject has created quite a bit of controversy, it's actually not quite what it seems. Rather than being outraged that our city allows real estate developers to “discriminate” against those who could never consider paying for the privilege of residing in their latest and greatest luxury building, naysayers should think about reading up on exactly what affordable housing is and isn’t—“rich” home seekers having an edge over the so-called “poor.”
We look at 80/20 and the 'poor door' controversy here
Real Estate Wire: A Walker Tower Flipper Eyeing a 75% Profit; The Top 300 US Architecture Firms
August 4, 2014

Real Estate Wire: A Walker Tower Flipper Eyeing a 75% Profit; The Top 300 US Architecture Firms

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The owner of a 3BR/4.5BA duplex with a terrace in the Walker Tower is looking to sell their $14.26M duplex for $25M. [Curbed] Architectural Record has released its annual list of the “Top 300 Architecture Firms” in the United States. Results are based on architectural revenue from 2013. [Architecture Record] Developers are having trouble filling […]

Philanthropists Joe and Carol Reich Sell Central Park West Condo for $16M
August 4, 2014

Philanthropists Joe and Carol Reich Sell Central Park West Condo for $16M

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Philanthropists Joe and Carol Reich have sold their Central Park West condo, according to city records, and when we say this place is fit for a king, we’re not exaggerating. The couple’s $16 million former duplex actually resides in the Prasada, which is one of the most prominent buildings in the city and one of the three buildings that solidified Central Park West as a prestigious avenue. In fact, this Beaux-Arts beauty—designed by architectural duo Charles W. Romeyn and Henry R. Wynne—was one of the first high rises to attract wealthy New Yorkers back around the turn of the century when townhouse living was the norm. But what else would you expect from a place that was commissioned by the King of Spain? See? We told you we weren’t exaggerating.
Take a look inside this royal estate here
Greenland Forest City Partners Selects COOKFOX and Thomas Balsley for Pacific Park Brooklyn (Formerly Atlantic Yards)
August 4, 2014

Greenland Forest City Partners Selects COOKFOX and Thomas Balsley for Pacific Park Brooklyn (Formerly Atlantic Yards)

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Forest City Ratner Companies and Greenland USA, a subsidiary of Shanghai-based Greenland Group, announced today that their new joint venture, Greenland Forest City Partners, has selected COOKFOX Architects to design two residential buildings at their Pacific Park Brooklyn project. They've also chosen Thomas Balsley Associates to design the site's eight-acre public park, which will be called Pacific Park. Formerly known as Atlantic Yards, Pacific Park Brooklyn will be a 22-acre site anchored by the Barclays Center and containing 8 million square feet of mixed-use development. The public park will be revealed in phases, with permanent and temporary installations. COOKFOX has begun the design for its two residential buildings-- 550 Vanderbilt Avenue, set to feature 275 condominiums, and 535 Carlton Avenue, which will have approximately 300 affordable rentals. Construction is expected to begin on the latter this December, with 550 Vanderbilt not far behind. A third residential building will be designed by SHoP Architects, who were the minds behind the Barclays Center, at 30 Sixth Avenue with another 300 affordable rentals.
Much more on the project here
Real Estate Wire: Three Towers to Top the East River Plaza; New Yorkers Vying for Homes on Busy Streets
August 1, 2014

Real Estate Wire: Three Towers to Top the East River Plaza; New Yorkers Vying for Homes on Busy Streets

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Meadow Partners has released a rendering of its Long Island City conversion project at 42-15 Crescent Street. The project will see an 11-story condominium with ground floor retail. [CO] The three towers planned to top the East River Plaza mall have been uncovered. The project is being developed by Blumenfeld Development Group and Forest City […]

Real Estate Wire: Chelsea Market May Get an Extension; United Charities Building Could Fetch $128M
July 31, 2014

Real Estate Wire: Chelsea Market May Get an Extension; United Charities Building Could Fetch $128M

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Chelsea Market may expand with a 330,000-square-foot addition. New renderings see the brick structure topped off with a block of glass and steel. [Curbed] The city’s Economic Development Corporation will begin installing greenery and seating in Downtown Brooklyn’s Fox Square. The project kicks off in August and will take 6 months to complete. [CO] Queens Borough President Melinda Katz […]

Sharif El-Gamal Commissions Jean Nouvel to Design Islam Museum Next to WTC
July 31, 2014

Sharif El-Gamal Commissions Jean Nouvel to Design Islam Museum Next to WTC

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Sharif El-Gamal, CEO of real estate developer Soho Properties, announced today that his company acquired 49-51 Park Place from Consolidated Edison for $10.7 million. He also confirmed that none other than Pritzker Prize-winning starchitect Jean Nouvel will be designing the site's three-story Islam museum and prayer space.
More on the breaking development
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