Real Estate Trends

We're thinking of becoming local college basketball fans — not necessarily because we love the sport, but because we're dying to get inside this Long Island University gymnasium that was once the Brooklyn Paramount Theatre. Commissioned in 1928 by Paramount Pictures, with a sister theatre in Times Square, this regal venue was the largest movie theatre in Brooklyn, second largest in the city, and the first theatre designed for talking pictures. Noted theatre architects Rapp and Rapp designed the rococo-style palace with 4,084 burgundy velvet seats, a ceiling painted with clouds, a 60-foot stage curtain decorated with satin-embroidered pheasants, huge chandeliers, and tiered fountains filled with goldfish. Movie houses struggled during the depression years, and by 1936 the Brooklyn Paramount Theatre had lost $1.5 million since opening. In 1950 Long Island University purchased the building, and twelve years later they renovated the auditorium as their gymnasium keeping the original, ornate details of the space intact. The LIU Blackbirds played their first game in 1963, and in 1975 a second renovation occurred thanks to funding from local businesses.
We uncover the storied past of this grand movie palace

June 30, 2014

Real Estate Wire: NYC Real Estate Is the New Swiss Bank Account; SHoP to Design Brooklyn’s Tallest Tower

Today’s real estate highlights in one digestible bite: Kim and Kanye leaving Cali? The pair were spotted penthouse shopping downtown. One of their stops included this stunner at 215 Sullivan Street. [NYP] Jeff Koons got the OK to build a mega-mansion at 11 and 13 E. 67th Street. Koons’ new pad will measure 19,325 square feet and Peter […]

Real Estate Trends

June 27, 2014

$2.1M Sale at 100 Rugby Road Is Record-Breaker for Prospect Park South

An adorable, historic, turn-of-the-century home modeled after a Swiss chalet has just sold for a record-breaking $2.1 million in Brooklyn’s Prospect Park South. Up until this point, the most expensive sale in the neighborhood was a $2 million sale from last year; however, records confirm that the 7BR/3.5BA home at 100 Rugby Road has edged out the competition by $100K.
Find out more about this historic record-breaker here

June 26, 2014

Real Estate Wire: Mapping All of Downtown Brooklyn’s Apartments; Park Slopers Love Their Parking Garages

Today’s residential real estate news in one digestible bite: Park Slopers would rather have a parking garage than a new luxury condo in their ‘hood. The typically crunchy locals are saying the 800 Union Street garage is “essential to the neighborhood”. [NYDN] Stern’s 82-story downtown hotel and residential condo tower is one-third constructed; while the […]

Real Estate Trends

June 26, 2014

Iconic Dean & Deluca Loft Purchased by Vidal Sassoon’s Widow

Ready for a sale where the space is just as famous as the people involved? We’ve got one for you. This iconic loft at 133 Wooster Street has been featured in the New York Times and was the very spot where the Dean & DeLuca cookbook was created. Well, how did this apartment get to be so special? Because it’s owned by Dean & Deluca co-founder Jack Ceglic.
But it gets even more interesting after the jump

June 25, 2014

Real Estate Wire: Lantern-Style High-Rise One Step Closer to Reality; Jonathan Safran Foer Wants $13M for His Brooklyn Home

Today’s residential real estate news highlights in one digestible bite: Black House just closed on the $62M Hudson Yards site needed for Archilier Architecture’s lantern-like mixed-use tower. [TRD] A rare luxury residential building in Boerum Hill is on the sales block and could garner well over $50M. [NYP] Who says writers don’t make money? Author Jonathan […]

Real Estate Trends

June 24, 2014

Real Estate Wire: Bed Stuy Getting 50 New Condos; Brooklyn’s Tallest Building Killing It in Sales

We roundup today’s residential real estate news highlights for one digestible bite: Bed Stuy is getting a brand new 10-story mixed-use building complete with 50 apartments [Brownstoner] NYC gets a rent hike! Of 1%… The lowest ever recorded [New York Post] South Slope’s newest condo development just placed its units on the market. The cheapest […]

Real Estate Trends

June 24, 2014

Simon Cowell Drops $11 Million on Lenox Hill Pad for His New Family

After months of house hunting, Simon Cowell has found a home for his new family. According to the NY Post, the TV mogul just put down $10.85 million on a nest at 151 East 78th Street for his girlfriend Lauren Silverman and their love child. The family will now call the Peter Pennoyer-designed condominium home; and while the Post isn’t entirely sure which unit the TV mogul purchased for his best friend’s ex-wife (no judgment here), they’re guessing it was the three-bedroom penthouse.
Want to know more about the penthouse? Find out here

June 24, 2014

Academic Historian Philip Bobbit Sells his Scholarly Beekman Penthouse for $1.3 Million

With four degrees from three ivy league universities, Philip Bobbit might be expected to live in a house lined with bookshelves and filled with piles of marked-up papers. The author, academic, historian, and public servant, however, kept a pristine space with virtually no clutter to be seen. But there is a scholarly feel to the 2BR/2BA apartment with its traditional design, formal artwork, and dignified furniture. Despite its studious charm, Bobbit has sold PH1606 at 575 Park Avenue, known as the Beekman, for $1.325 million. If the dramatic décor of the penthouse wasn't enough to entice the buyer, it also features north, east, and south exposures, as well as two custom, operable glass NanaWalls that open onto a gorgeous 45-foot-long outdoor terrace, creating an indoor/outdoor oasis.
Continue your penthouse education ahead

Deepak Chopra Finally Unloads Park Imperial Pad for $3.5 Million

Deepak Chopra has finally been able to free himself of the mediocre, non-wellness oriented piece of real estate he once called home. After spending $14.5 million on a Greenwich Village apartment built for a hypochondriac – the space has antimicrobial coating on high-touch surfaces and EMF shielding to protect residents from electromagnetic fields – he has finally managed to get rid of the germ-soaked two-bedroom unit his lesser-evolved self once appreciated.
Take a look inside the Park Imperial Pad here

June 19, 2014

Orlando Bloom Purchases Tribeca Loft for $4.88 Million

Orlando Bloom just got a lot closer to Taylor Swift, and she didn’t even have to write a break-up song about him. The Lord of the Rings star has just purchased a $4.88 million three-bedroom loft at 155 Franklin Street, in the building formerly known as the Sugarloaf Warehouse. (We figure that sentence would make Prince proud.) We’re guessing this building has a certain appeal to hobbit acquaintances as the penthouse, now home to Swift, was formerly home to director Peter Jackson. So, it’s the hobbit gift that keeps on giving. According to the New York Post, the star was drawn to the loft’s “cast-iron columns, exposed brick walls, open chef’s kitchen and wood-beamed ceilings”. We would be too.
Take a look inside the hobbit star's Sugarloaf loft here

June 19, 2014

Brownstone of Park Slope’s “Original Gentrifiers” Sells for $3 Million

When Evelyn and Everett Ortner bought their Park Slope brownstone at 272 Berkeley Place in 1963 for $32,000 they probably never imaged it would sell 50 years later for over $3 million. But it was their own historically sensitive and forward-looking vision that helped revitalize the area and make it a much-sought-after Brooklyn neighborhood. The Ortners moved to Park Slope when brownstones were unfashionable and the rich turned their noses down at the area. They convinced their friends to also buy brownstones in the neighborhood. Evelyn was an interior designer specializing in period interiors, and the couple meticulously restored their home down to every last historic detail. After a 25th anniversary trip to France, where they were inspired by local preservationists working to conserve a crumbling castle in Normandy, Mr. and Mrs. Ortner dedicated themselves to historic preservation efforts in Park Slope until their deaths in 2006 and 2012.
See the results of the couple's tireless passion

June 18, 2014

City Approves $3 Million Streetscaping Plan for Downtown Brooklyn Cultural District

The city has officially approved a $3 million streetscaping plan as part of the overall plan to create a cultural district on the border of downtown Brooklyn and Fort Greene, according to Crain’s New York. The plan, which will transform public spaces along several streets including Fulton Street, Ashland Place, Lafayette Avenue, will include ripping up the existing sidewalks and replacing them with dark stone slabs embedded with a sprinkling of lights. There will also be new seating and landscaping along a number of blocks north of Atlantic Avenue where patrons of popular institutions like the Brooklyn Academy of Music and BRIC arts and media gather. The idea is to turn that area into a cultural epicenter in Brooklyn, much like Lincoln Center in Manhattan, but comprised of several independent entities.
Find out more about Brooklyn's new cultural epicenter here

Real Estate Trends

June 18, 2014

Caveat to DeBlasio’s Grand Central Terminal Area Rezoning Would Require Special Permit for New Hotels

By Stephanie Hoina

The impetus behind the rezoning plan allowing taller towers in the blocks surrounding Grand Central Terminal - specifically the five blocks of Vanderbilt Avenue from East 42nd Street to East 47th Street - is to keep New York competitive with office development in other major cities like London and Shanghai. However, according to the Wall Street Journal, the hotel-workers union, which had a key role in the demise of a similar proposal under former Mayor Michael Bloomberg, has flexed its muscles once again, seeking a concession that would require any new hotels to receive a special permit from the City Planning Commission and the City Council.
More details on the rezoning here

Real Estate Trends

June 18, 2014

Printhouse Lofts are Ready to Make Their Mark on the Williamsburg Real Estate Scene

If you follow Williamsburg real estate news, you likely read about a lot of glassy waterfront towers and swanky hotels. It's refreshing, therefore, to hear about the Printhouse Lofts, a new residential development housed in a 104-year-old manufacturing building that seamlessly blends historic character with modern design. Located at 139 North 10th Street, the site originally housed a printmaking company and was later a toy factory. After failed conversion attempts by two different developers, Greystone bought the property last year for $15.8 million and undertook an adaptive reuse project that resulted in 36 fabulous apartments.
Take a tour through one of these stunners

June 17, 2014

A Tree Grows In Brooklyn: $3.18M Historic Brooklyn Heights Town Home Has a Garden

Someone just purchased a nice little income property in Brooklyn Heights, according to city records. This 4-family town home, located at 36 Schermerhorn Street, is an original 1840s brownstone in one of Brooklyn’s premier locations. It offers 3,000 square feet of living space and a garden for the lower duplex. Yes, a tree grows in Brooklyn. However, the best part of this unit, listed by Corcoran’s Vicki Negron, is that it already has tenants. Granted their lease expires in August, but minor details.
Take a Look inside this incredible BK heights building here

June 17, 2014

Helen Hunt Finally Sells Upper West Side Pied-a-Terre for $2.58 Million

It looks like Helen Hunt has finally sold her Upper West Side apartment to the tune of $2.58 million. This new development comes after having the apartment on the market for nearly 9 months. That’s essentially like having a baby. Hunt purchased the apartment at 320 West 86th Street for $2.43 million in 2006, according to the Daily News, and was using the 3/BR as a pied-a-terre. Her main residence is in California. After acquiring the co-op, Hunt completely renovated the pad, creating a six-room layout with restored herringbone floors, hideaway office spaces and decorative fireplaces.
Take a look inside the star's pad here

June 17, 2014

Time Warner V.P. Unloads Upper West Side Condo for $4.3 Million

A strikingly elegant co-op apartment at 375 West End Avenue has for $4.3 million, according to city records. The seller, Paul T. Cappuccio, Vice President and General Counsel at Time Warner, Inc., bought the 5BR/3.5BA unit in July 2011 for $3.5 million, netting him an almost $1 million profit. The handsome, 2,400-square-foot space is a mix of traditional design and convenient, modern touches. Stunning, detailed moldings and shiny herringbone hardwood floors work alongside barely-there recessed lighting and a contemporary, marble bathroom. Ten-foot ceilings and large windows framed by panel molding are decorative elements that harken back to the building's prewar construction, while custom walk-in closets and a laundry room with full-size washer/dryer are 21st-century touches.
Take a look at the rest of this swoon-worthy pad

Growth Spurt: Brooklyn’s Tallest Tower at 333 Schermerhorn Will Soar Even Higher Than Expected

L to R: Williamsburg Savings Bank (One Hanson), The Brooklyner, 388 Bridge Street, Avalon Willoughby West, The Hub

June 17, 2014

Growth Spurt: Brooklyn’s Tallest Tower at 333 Schermerhorn Will Soar Even Higher Than Expected

By Ondel Hylton

Construction filings from the Department of Buildings have revealed that Douglas Steiner's mixed use tower at 333 Schermerhorn Street, dubbed the Hub, will soar 30 feet higher than previously reported; making it the top contender for Brooklyn's tallest building at 607-feet. For more than 80 years, the title of Brooklyn's tallest belonged to the 512-foot Williamsburg Savings Bank tower at 1 Hanson Place. With its beloved 4-sided clock tower and its majestic banking hall, the tower has stood in relative isolation since its construction in 1929. Bruce Ratner's Atlantic Yards centerpiece building nicknamed "Miss Brooklyn," was the first to challenge the tower's dominance and was slated to soar more than 100-feet above the bank building's dome. The proposal incited uproar from Brooklynites, leading to its eventual downsizing in 2006 to 511-feet, just one foot shorter than the neighboring bank building.
More about The Hub and Brooklyn's tallest this way

June 16, 2014

Long Island City Makes Way for Three New $875M Residential Towers with 1,600 Units

By Diane Pham

Long Island City gets glassier by the day, and now Tishman Speyer is teaming up with Toronto’s H&R REIT to build a three-tower, 1.2 million-square-foot “landmark luxury residential rental development” with 1,600 residential units and 30,000 square feet of retail space. The dynamic duo paid a total of $55.6 million for the piece of land acquired from […]

Real Estate Trends

June 16, 2014

Windsor Terrace Home Gets Scooped Up by Unexpected Buyer for $2.2 Million

If you’re an older couple looking for a quiet place to tend your garden on Saturdays, you’ll love this quaint, recently purchased Windsor Terrace townhouse with a retro charm. This 2,090-square-foot town home is like your grandma’s house… made with love. The retro charmer has subway-tiled walls and original claw foot tubs to add to its vintage appeal. And it all starts when you walk through those nine-foot entry doors. A decorative archway greets you, ushering you into the sun-filled parlor with its 11-foot tin ceilings and original heart of pine floors. There’s also a working fireplace so you can read Chaucer while your cat Norman rubs up against your leg.
Take a closer look at this retro home here

June 16, 2014

Beautiful Clinton Hill Brownstone with an M.C. Escher-like Staircase Sells for $2M

By Diane Pham

Can you make sense of this staircase? We're not sure what's going on here, but the rest of this Clinton Hill townhouse is a sight to be seen. Closed today by the Corcoran Group for $2 million and some change, the 4-story, 2-family brownstone was recently gutted and renovated to boast a modern design with cutting edge appliances and sleek finishes. If you love wood detailing, high ceilings, or just want to snoop around a historic home that has a pretty incredible backyard, hit the jump.
Take a tour of 441 Classon Avenue

June 16, 2014

Frick Museum Expansion Renderings Unveiled

The Frick Collection just announced their plans for expansion last week and today they’ve unveiled renderings. The construction, designed by Davis Brody Bond architectural firm – the same firm responsible for the interiors in the 9/11 Museum - plans to expand the space by 60,000 square feet, connecting their Upper East Side mansion with the museum’s art reference library.
More on the massive expansion this way

Real Estate Trends

June 13, 2014

The Unveiling of 101 Tribeca Is Better Than Expected