Real Estate Trends

Seasoned Real Estate Couple Grab Eclectic Central Park West Apartment for $5.3 Million
July 31, 2014

Seasoned Real Estate Couple Grab Eclectic Central Park West Apartment for $5.3 Million

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It must have been a nice change of pace for Stephen Yalof to look for residential properties instead of the retail spaces he scoped out for 12 years as Senior Vice President of Real Estate for the Ralph Lauren Corporation and now as CEO of Premium Outlets. Though for his wife Liora Yalof, a broker with Corcoran, it was likely just another day at work. The couple paid $5.3 million for their new three-bedroom home at the St. Urban on Central Park West. Apartment 11E is an eclectic mix of historic details and global-inspired décor, perfect for such a well-rounded real estate pair.
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Charming Italianate-Style Townhome in Fort Greene Sells for $3.3 Million
July 31, 2014

Charming Italianate-Style Townhome in Fort Greene Sells for $3.3 Million

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The one-to-two family dwelling at 20 South Oxford Street must have made quite an impression on a few buyers. An apparent bidding war drove the price up from its initial $2.65 million asking to a final sale price of $3.3 million, according to city records. Located on a quiet, tree-lined street in the Fort Greene Historic District, this three-story Italianate-style home has a garden-level apartment with a separate entrance that can serve as an income suite or a fourth level. In addition, the home boasts high ceilings; a large backyard accented by a 123-square-foot deck; and many original details from its 1854 inception, including original marble mantles on each of the home’s six decorative fireplaces.
Take a look inside, here
Late “60 Minutes” Anchor Mike Wallace’s Estate Sells for $13 Million
July 30, 2014

Late “60 Minutes” Anchor Mike Wallace’s Estate Sells for $13 Million

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After nearly two years on the market, Mike Wallace’s estate has finally sold, for a significant discount, according to city records. The home was initially placed on the market after the anchor’s death in 2012, asking $20 million dollars, a far cry from its closing $13 million sale price. Occupying the 15th and 16th floors of the distinguished 730 Park Avenue—a white-gloved Jacobean/Tudor style co-op designed by F. Burrall Hoffman, Jr. and Lafayette A. Goldstone--this 4BR/4.5BA duplex, offers plenty of light, gorgeous city views, and original prewar details.
Take a look inside the anchor's former home here
Blue Chip Buys: 15 Central Park West Is New York City’s Most Expensive Building, Other Contenders
July 29, 2014

Blue Chip Buys: 15 Central Park West Is New York City’s Most Expensive Building, Other Contenders

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Even with the thousands of new residential units that have hit the market in the last year, there are still a handful of tried-and-true properties in Manhattan that will always be coveted by the rich, the famous, and those who just wish they were rich or famous. So which properties sit at the top of this list? We turn the CityRealty 100 for the low-down on what buildings have outdone all of the rest. Their latest report tracks the performance of Manhattan's top 100 condo buildings through the second quarter of 2014.
The top performers this way
Pocket Listings: Secret Real Estate Listings Are no Longer Limited to the Rich and Famous
July 29, 2014

Pocket Listings: Secret Real Estate Listings Are no Longer Limited to the Rich and Famous

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Okay, we know homes are more often than not sold through real estate agents, but did you know that more than a few are sold under the radar? That somehow, there are always a handful of residences "secretly" up for sale, and try as he/she may, your broker will never come across them on an MLS—a place where just about everybody on earth can search for a specific building or neighborhood any day of the week. Here’s the lowdown: These homes are known as "pocket listings" and though there is a signed and perfectly legal agreement between the agent and seller, the listing is never entered into an MLS for the world to see. There’s no big open house shindig; no advertising—and obviously no press splash. So, why would a seller risk more unsold days on the market instead of opting for an open listing, you ask?
Find out more here
Gorgeous Versailles-Inspired Townhouse with Sweeping Staircase Sells for $6.7 Million
July 28, 2014

Gorgeous Versailles-Inspired Townhouse with Sweeping Staircase Sells for $6.7 Million

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It probably seems odd for a New York apartment to spark visions of Scarlet O’Hara walking down a staircase. And where is this apartment? It’s not in Brooklyn, or even on the Upper East Side. Ladies and gentlemen you are in Tribeca, where developer and homeowner Gizman Abbas decided to forgo the typical warehouse look in favor of a more palatial, classic look inspired by a trip to Versailles. And if you’re not fascinated by the old world details, let us remind you that just because a home looks like the backdrop for a period piece, doesn’t mean it can’t be rigged with enough modern-day technology to rival Bill Gates. Because our friend Mr. Abbas has traveled to more places than just Versailles, and his cup of inspiration runneth over. It was apparently enough to convince New York attorney Tracey Anne Zaccone. According to city records, Zaccone just purchased the home for $6.7 million, and it looks like she got a steal of a deal.
You’ll see what we’re talking about here
MIT Professor Sells Gorgeous Prewar Apartment in the Dorchester
July 25, 2014

MIT Professor Sells Gorgeous Prewar Apartment in the Dorchester

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A professor of Politics at MIT has just sold his Upper West Side co-op for $5 million, $50,000 over asking, according to city records. The 7th floor apartment at the Neville and Bagge-designed Dorchester has been renovated to include pristine modern finishes, while still embracing the home’s original details from over a century ago. Some of those details include hardwood floors, beamed ceilings, and elegant mouldings.
Take a look inside this gorgeous pad here
Holly Hunter Sells Her Greenwich Village Apartment for $7.6 Million
July 24, 2014

Holly Hunter Sells Her Greenwich Village Apartment for $7.6 Million

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Academy Award-winning actress Holly Hunter has just sold her Greenwich Village apartment, according to city records. The thespian put her Fifth Avenue apartment on the market in February, asking $8.7 million. The final sale price was $7.6 million. The adorable home is situated high up in the 11-floor building at 43 Fifth Avenue, a 1905 Beaux Arts “masterpiece”. The apartment features restored original wood moldings and window trim. Additional touches include stained glass and a fireplace. There’s also a large kitchen with an abbey table capable of seating six. Three bedrooms and baths, along with two windowed offices and a parlor complete the beautiful place.
Find out more about the celebrity abode here
Real Estate Wire: Pier 57 to Go from Super Fud to Superpier; Developers Want Crown Heights Rezoned
July 23, 2014

Real Estate Wire: Pier 57 to Go from Super Fud to Superpier; Developers Want Crown Heights Rezoned

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Building, business owners and, of course, developers want to see a rezoning of Crown Heights so that more light industry and residential buildings can be brought to the already rapidly-gentrifying neighborhood. [TRD] Ridgewood Lodge No. 710, a mysterious Masonic temple in Ridgewood, has received Landmark status. [Curbed] A look at the former Verizon buildings that have been […]

Landmarks Deems S.L. Green’s One Vanderbilt Tower ‘Appropriate’ for Its Grand Central Site, Others Not Happy
July 22, 2014

Landmarks Deems S.L. Green’s One Vanderbilt Tower ‘Appropriate’ for Its Grand Central Site, Others Not Happy

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The New York City Landmarks Preservation Commission held a hearing today on a proposal by S.L. Green to build a huge tower on the northwest corner of Vanderbilt Avenue and 42nd Street directly across from Grand Central Terminal. The proposal before the commission was an application for a “certificate of appropriateness” for a transfer of air rights from the former Bowery Savings Bank Building at 110 East 42nd Street between Park and Lexington Avenues. The developers of S.L. Green made their moves by wooing Landmarks with renderings of Kohn Pedersen Fox-designed tower which would be 1,350 feet tall not counting a 100-foot-high spire—this is significantly higher than the Chrysler Building on the northeast corner of Lexington Avenue and 42nd Street and higher than all the supertalls in construction or planned for 57th Street.
Reactions from the hearing this way
Back to Blueprints: House Hunters Are Buying Sight Unseen, Much Like the Pre-Crash Days
July 21, 2014

Back to Blueprints: House Hunters Are Buying Sight Unseen, Much Like the Pre-Crash Days

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In the mid-2000s, when the real estate market was red hot with new developments, home seekers gave nary a thought to making what can be described as the biggest decision of their lives: Buying something sight unseen. For them, traipsing through model apartments, checking out pretty renderings, gawking at miniature models, stroking teensy squares of countertop finishes, thumbing through shiny marketing materials filled with information on everything but the kitchen sink to make an actual purchase was par for the course. (Oh, wait! They did include the kitchen sink.) But then all that changed by late 2007 when the stock market took a nosedive. Not a single potential buyer would even consider a new place to hang their hats without actually standing inside a frameless glass shower stall, checking out the size of a Sub-Zero refrigerator or getting high from real-time views seen through floor-to-ceiling window—and developers took note. But that was then and this is now, and with an improving economy and increasing demand, the tides seem to have turned once again.
Is buying off blueprint back in full force?
Real Estate Wire: Juul-Hansen’s Condos Hugging the High Line; Own a Villa on Staten Island
July 21, 2014

Real Estate Wire: Juul-Hansen’s Condos Hugging the High Line; Own a Villa on Staten Island

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Juul-Hansen’s condos are on the rise and now flanking both sides of the High Line Park. [Curbed] Manhattan’s office buildings are being valued at pre-crash levels. [WSJ] Who owns New York? Chinese developers apparently. Here are four high-profile Chinese developers pouring their cash into Manhattan. [TRD] Own your own “Italian/French” villa… on Staten Island. [Curbed] New kid on the […]

Hotel Carlyle Co-op With Stunning Views Sells for $4.5 Million
July 18, 2014

Hotel Carlyle Co-op With Stunning Views Sells for $4.5 Million

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After what appears to be a long, intensive history on and off the market with a few price drops, unit 3006 at the Hotel Carlyle Aerie has finally sold, according to city records. Always a bridesmaid, never a bride might be a fitting way to look at this co-op, as it appears to have been on the market for a year and a half, eventually dropping their asking price from $7.75 million to $4.9 million, and ultimately settling in at a $4.5 million sales price. But one look at the living/dining room (and an aptly placed telescope by the window) makes it clear that the star of this apartment is the amazing views. As Mastercard would say, those views are priceless.
Take a look inside here
PENCIL’s Lisa Belzberg Nabs Incredible Upper West Side Penthouse at an $8.5 Million Discount
July 18, 2014

PENCIL’s Lisa Belzberg Nabs Incredible Upper West Side Penthouse at an $8.5 Million Discount

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It looks like Lisa Belzberg, Operating Partner at Leeds Equity Partners, founder of the nonprofit PENCIL, and well-connected New York City socialite, has applied her business savvy to the real estate market, snagging penthouse 13 at 44 West 77th Street for $11.5 million, well below the original $20 million asking price. Dubbed the apartment with "the best living room ever," this 3BR/2.5BA, 4,187-square-foot unit has been featured on Bloomberg TV and Open House NYC for its opulent living space, which includes 24-foot, floor-to-ceiling windows, Corinthian columns, a hand painted Venetian plaster ceiling, and an eight-foot-tall 17th century stone fireplace that was imported from the Iberian Peninsula.
And that's not all. Check out the rest of this extraordinary home.
Corcoran Broker Susan Lamia Sells Off Her Charming West Village Townhouse for $10.75 Million
July 17, 2014

Corcoran Broker Susan Lamia Sells Off Her Charming West Village Townhouse for $10.75 Million

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As the saying goes: If you want something done right, do it yourself. And that's exactly what Corcoran broker Susan Lamia did with her stunning Greek Revival townhouse at 54 Charles Street in the West Village. After just 21 days on the market, the property traded hands for $10.75 million, according to city records filed today. Susan and her husband originally purchased the home for $4.92 million nine years ago, turning a pretty nice profit on the recent sale. Though the buyer has yet to be disclosed, whoever they are, they've sure lucked out with their purchase. The spacious home not only sits along one of Manhattan's most picturesque streets, but also boasts many of the building's original, historic details.
See more of this lovely home here
Oasis Singer Liam Gallagher Puts His Essex House Condo on the Market
July 17, 2014

Oasis Singer Liam Gallagher Puts His Essex House Condo on the Market

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If his home is any indication, we’re guessing Oasis frontman Liam Gallagher loves animal prints as much as he loves Great Britain. According to the NY Post, the singer and his brother Noel have just put their Essex House condo up for sale for $4 million with Douglas Elliman agents Oren and Tal Alexander.
Take a look inside the Oasis singer's pad here
Still Portzamparc-ish: New Images of Extell’s Riverside Center Uncovered
July 17, 2014

Still Portzamparc-ish: New Images of Extell’s Riverside Center Uncovered

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On the website of Extell Development's latest residential tower, One Riverside Park, we uncovered some newer, more realistic renderings of their massive Riverside Center project. The 8-acre superblock between West 59th and 61st Streets lies at the southern end of a string of 11 Riverside South buildings that have been underway since the mid-1990s. Developer Donald Trump had struggled since 1974 to redevelop the 77-acre rail yard, and he developed the first eight buildings as Trump Place before selling a substantial portion of the site to Extell Development in 2005.
See more images of this mega-development here
Real Estate Wire: How to Turn a Bed-Stuy Church Into Condos; Another Real Estate Bubble on the Horizon?
July 16, 2014

Real Estate Wire: How to Turn a Bed-Stuy Church Into Condos; Another Real Estate Bubble on the Horizon?

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Smart adaptive reuse or an alarmingly bad design? A Bed-Stuy church conversion sees the historic structure all boxed up. [Brownstoner] Is the city’s booming real estate market a reflection of the city’s strong economy or a bubble driven by speculative investment? Greg David investigates. [Crain’s] A new hotel designed by Peter Poon will replace a […]

Citigroup’s Former Chairman Sanford Weill Sells His Maid’s Quarters for $5.34M
July 16, 2014

Citigroup’s Former Chairman Sanford Weill Sells His Maid’s Quarters for $5.34M

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It's great being Sandy Weill, and apparently it's also pretty good being his hired help. According to city records, the former Citigroup chairman just sold off his servants quarters, a lovely little sixth floor pad at celeb favorite, 15 Central Park West. The sale of 6H rang in at an impressive $5.337M — more than five times what Weill paid for it back in 2007. But Weill is no stranger to making big bucks on his real estate deals. Back in 2011 he sold his apartment in the same luxury tower for a record-breaking $88M to Katerina Rybolovleva, the young daughter of Russian billionaire Dmitriy Rybolovlev.
More details here
Winamp Creator Picks Up an Ultra Cozy Tompkins Place Pad in Cobble Hill
July 16, 2014

Winamp Creator Picks Up an Ultra Cozy Tompkins Place Pad in Cobble Hill

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Justin Frankel, developer of the popular early 2000s music-ripping program Winamp, just purchased a cozy Cobble Hill duplex for $2.35 million, according to city records. The Tompkins Place pad has three bedrooms and 1.5 baths and is located on what some consider to be the best block in Cobble Hill, with plenty of shopping and dining right around the corner.
Let's take a look inside
Mayor Bill De Blasio Proposes to Transform Downtown Brooklyn
July 16, 2014

Mayor Bill De Blasio Proposes to Transform Downtown Brooklyn

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Mayor Bill de Blasio is set to make a proposal on Wednesday that will launch an initiative to transform Downtown Brooklyn into a community that will rival some of its brownstone counterparts. The area has undoubtedly grown significantly over the last decade with new restaurants and cultural institutions that have attracted an influx of residents. However locals feel that the area still feels a bit disconnected. De Blasio’s plan aims to create a greater sense of community in the neighborhood.
Find out more about the proposal here
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