Real Estate Trends

HSBC investment banker and one of the 25 most powerful women in finance, Katia Bouazza, has just sold her Greenwich Village pad for $2.6 million, according to city records. Who would have thought the Co-head of Global Capital Markets for the Americas could have such great taste?
Take a look inside this gorgeous loft here

July 10, 2014

Funky Apartment in Flipper-Favorite 166 Perry Street Sells for $2.5 Million

166 Perry Street, the futuristic, Asymptote-designed condo with a vertical undulating façade, has become notorious for its failed flipping attempts. But the curse might be lifted at the eight-story West Village residence thanks to the recent $2.5 million sale of apartment 1B, a 2BR/2.5BA duplex that has been outfitted with modern touches and funky details. The 2,526-square-foot unit initially sold in 2010, a year after the building's completion, for $1.756 million. When the pad went on the market this time around in January 2013, it was listed for $3.995 million. Though today's owner had to lower the asking price, she still made a profit of nearly $1 million.
Check out the colorful digs here

July 10, 2014

Brooklyn Rents on the Rise With Crown Heights and Bed-Stuy Leading the Charge; Manhattan Rents Relatively Stable

This past week there has been a lot of talk about Crown Heights and Bed-Stuy finally having their "moment", and it looks like there are numbers in to back that up. MNS's June rental market report for Brooklyn and Manhattan reveal that both developers and renters are looking to move away from saturated areas like Williamsburg and DUMBO. By MNS's measure, average rents in Brooklyn increased from $2,556 to $2,741, or 6.2%, as compared with June of last year — very much driven by rent hikes in gentrifying areas. Manhattan rents on the other hand fell just slightly.
More on the Brooklyn and Manhattan rental markets here

Real Estate Trends

July 10, 2014

Kimora Lee Simmons Buys a Phat Apartment at the Marquand

Well, it only makes sense for the creator of Baby Phat to live in a phat crib. Investment banker Tim Leissner, otherwise known as Mr. Kimora Lee Simmons, just dropped $19 million on an 8th floor apartment at The Marquand, according to the NY Post. The 5BR/5.5BA unit has its own private elevator landing and wood burning fireplaces, and while we’re not sure what other features the actual apartment boasts, other apartments in the building have bay windows, a chef’s kitchen, and a media niche with a concealed A/V closet.
Take a look inside the Baby Phat crib here

July 9, 2014

Real Estate Wire: A Bushwick Factory to Get New Life as Condos; A Peek Inside Norman Foster’s 425 Park Ave. Design

Our wrap-up of today’s real estate news highlights: Williamsburg-based development firm ASH NYC is planning to turn a longtime Bushwick glass factory into 80 apartments with ground floor commercial space. [Wyckoff Heights] Freddie and Fannie are warding off any “vultures” eyeing Stuy Town. The two mortgage giants say that they won’t provide funds to buyers who […]

Real Estate Trends

July 9, 2014

Parkview Developers Ian Reisner and Mati Weiderpass Sell Southmoor House Penthouse for $11.9 Million

It appears that Ian Reisner and Mati Weiderpass of Parkview Developers have sold one of their Southmoor House penthouses. The 17-floor building serves as more than just home to the Out Hotel developers. It’s also headquarters for their company. And like true developers, they own a big chunk of the building, making them one of the co-op’s biggest shareholders. While the newly troubled pair seems quite committed to their own symmetrical pad—turning down a $15.5 million cash offer a few years back without batting an eyelash—that doesn’t stop them from making serious bank on some other units. And you won't hear us complaining, because that means we get to check out this 3BR/3BA penthouse.
Take a look inside this premier pad here

July 9, 2014

Rubbermaid VP Snatches Up Patrick Naggar-Designed Chelsea Penthouse for $7 Million

We're guessing this penthouse loft at 138 West 17th Street is going to get very organized when new owner Mark Tarchetti, Chief Development Officer and Executive Vice President of Newell Rubbermaid Inc., moves in. He may not need to bring in too many plastic bins, though, as internationally acclaimed architect/designer Patrick Naggar executed a stunning combination of high function and low maintenance in this 3BR/3BA, 3,200-square-foot Chelsea apartment. Naggar incorporated exotic materials and top-notch artisanry to create a sleek, modern home that feels luxurious and comfortable. Natural light and 360-degree unobstructed views abound thanks to 20 huge windows and five skylights.
Think the penthouse was worth the $7 million price tag? Check out more details right this way

July 8, 2014

Real Estate Wire: New Images of 432 Park Ave Under Construction; Battle of the Penthouses

To power up the vast $18 billion Related Companies project at Hudson Yards, the developers are looking to off-grid electrical systems. However, being green may also mean having to pay out more green. ConEd’s standby tariffs are canceling out any benefits for both big and small buildings alike. [Crain’s] The managers of the Empire State Building have asked a judge to dismiss a […]

Real Estate Trends

July 8, 2014

New Renderings of Two Trees’ BAM South Tower Highlight Views, Green Roofs and Space for Outdoor Markets

New images of the BAM South Tower at 286 Ashland Place have emerged and come courtesy of the project's landscape architect, Grain Collective. The renderings hint not only at the incredible views that will be afforded by the new tower, but the major rehaul of the public spaces along Fulton Street, Ashland Place and Lafayette Avenue. The new streetscaping plan will add much needed green space to the barren concrete quarter, with plenty of room for outdoor activities and events for patrons of BAM and BRIC, as well as local residents, to enjoy.
More of what's to come here

West Village Federal Rowhouse with Surprise Attic Space Sells for $6 Million

Attics get a bad name as the cobweb-laden crawl space to store holiday decorations, the makeshift bedroom for the angry teenager in the house, or the unknown room that no one even dares enter. But behind the dormer windows of 651 Washington Street is a modern, spacious attic space that has been transformed to fit two sunny bedrooms, one of the many factors that likely led to its recent $6 million sale. Other selling points of the five-story, 2,800-square-foot home include four bedrooms, three and a half bathrooms, a full-floor finished basement outfitted with a home gym, a private outdoor garden, and two separate dining rooms. The lucky buyer is Charles Modica, Co-Founder and Chancellor of St. George's University located in Grenada, West Indies.
See what else Mr. Modica will get to enjoy in his new residence

July 7, 2014

Real Estate Wire: KPF’s New Supertall Tower for Midtown Site Sensitive?; Crown Heights and East New York Having “A Moment”

Today’s real estate news highlights: Conversions, condos, rising land prices, and, of course, more coffee shops. It looks like Crown Heights is “having a moment” as Brooklyn’s new “it” neighborhood. [New York Times] Oh, it looks like East New York’s moment has arrived as well — though this change has a bit more substance. Under the […]

Real Estate Trends

July 7, 2014

Permits Filed for SHoP’s 36-Story Tower at the Domino Sugar Refinery

The transformation of the Domino Sugar Refinery is moving full steam ahead with Two Trees Development filing their first permits for their 36-story SHoP-designed tower at 320 Kent Avenue. The 401-foot glass tower will be one of the tallest of the mega development, sited alongside the Williamsburg Bridge.
More on the tower here

July 3, 2014

Real Estate Wire: Developers Want to Demolish a Landmarked Building to Put Up Condos; ZIP Codes of the Super Rich

ZIP Codes of the Super Rich. 10013 A.K.A. Tribeca comes in 9th with a median home value of $2,824,000, according to Zillow. [CityLab] Stuy Town can’t seem to escape litigation. Stuy Town’s lenders say they are being cheated out of hundreds of millions of dollars in the CWCaptial and Wells Fargo takeover of the 11,000-unit […]

Real Estate Trends

July 3, 2014

Former Bear Sterns Exec Richard Harriton’s Belaire Penthouse Sells for $8.7 Million

White collar defense lawyer Thomas J. Kavaler and his wife Loretta Preska have just purchased Richard Harriton’s Belaire Condominium penthouse, according to city records. The stunning apartment went on the market earlier this year, asking $9.2 million, but Harriton gave the couple a $500k discount, possibly after realizing that it never hurts to have a good defense lawyer on your side.
Take a look inside this splendid penthouse here

July 2, 2014

Real Estate Wire: The Priciest Celebrity Homes in NYC; Developer Larry Silverstein’s Mega-Sized New Cause

Today's real estate news highlights: JDS is gearing up to build two luxury residential towers on the East Side on a $390M formerly owned by ConEd. [The Real Deal] What goes around comes back around right back into your real estate portfolio. Stephen Schwarzman’s Blackstone Group is buying the Park Avenue Tower, which it briefly owned in 2007. The property was flipped and sold it to Harry Macklowe for $625M. Blackstone just bought it back for $750M. [The Real Deal] The most expensive celebrity homes in NYC. Who has the most covetable pad in Manhattan? [Business Insider] Bushwick goes upscale with its gentrification. A 7-story building with valet parking may be coming to the nabe. [DNA Info] 'Jersey Boy' Bob Gaudio wants $6M for his San Remo apartment. Ohhhh what a deal? [Curbed] 50 West Street lists its units with condos starting at $1.615M [Curbed] For NY's tallest towers, the current rules require that they have mostly commercial space. Developer Larry Silverstein is championing for a change and wants that mix to favor far more lucrative residential space. [Crain's] The magazine everyone loves to hate continues to expand their media empire. Vice is investing $20M to renovate a 60,000-square-foot building on South Second Street and Kent Avenue, which will house its production facilities and a broadcasting station. [Crain's] Manhattan apartment inventory is at a low and the prices are up in the 2nd quarter. Read our brief after the break for all the details. Hugh Jackman in his luxurious 11,000 sq ft home (left); Larry Silverstein (right)
The 2nd quarter results here

Real Estate Trends

July 2, 2014

Former Warner Music Co-Chairman Michael Fleisher Sells Brooklyn Heights Town Home for $6.4M

Wayfair CFO and apparent fan of extramarital endeavors, Michael Fleisher has sold his Brooklyn Heights town home, and for 6.4 million according to city records. The former Warner Music co-chairman listed the home at 273 Hicks Street five months ago with Corcoran agents James Cornell and Leslie Marshall, asking a staggering $6.95 million. After two months, he reduced the asking price to $6.495 million before finally settling in at a sale price of $6.4 million.
Take a look inside the Brooklyn Heights Beauty here

July 2, 2014

Demolition Permits Filed at 101 Murray – The Site of Downtown Manhattan’s Future Tallest Condo

By Ondel Hylton

Demolition permits have been filed with the Department of Buildings for the tallest condominium building south of 'Billionaires' Row.' The approximately 950-foot tower revealed by real-estate blogger YIMBY last month will house 129 condos within a dramatic champagne flute-like design by the architects Kohn Pedersen Fox Associates. Tentatively named 101 TriBeCa, the uppermost floorplates increase in size to take greater advantage of views uptown and towards the river that most likely will remain unobstructed years to come due to restrictive zoning in TriBeCa and Battery Park City.
more on the new tower here

July 1, 2014

Real Estate Wire: Inside the Building Where Leo DiCaprio Will Live; And the Newest ‘Tallest Tower in NYC’ Is…

Today’s real estate news highlights all in one place: Here we go again… In the race to build the biggest of them all, a new Silverstein property slated for the far West Side could become the largest residential tower in New York. [The Real Deal] Brooklyn prices continue to climb. Reports show that co-op prices […]

Real Estate Trends

July 1, 2014

$3.45 Million West Village Loft Accented with Glazed Glass Sells for Asking

The sprawling 3,200-square-foot loft at 377 West 11th Street has just sold for asking, according to city records. Apartment 1A is currently configured as a 3BR/2BA loft, but one of the bedrooms can be a guest bedroom or study, depending on what the new owner desires. The $3.45 million airy loft is accented by glazed glass throughout, making for an even more light-filled space. This architect-designed co-op doesn’t do anything halfway, with a spectacular foyer greeting you and ushering you into a living/dining room with 15-foot ceilings, a wood-burning fireplace, and custom bookshelves. And we’re not talking just a few books, here. Get out your library card because these bookshelves have their own second story.
Want more? Look here

July 1, 2014

Movie Producer’s Brendan Coburn-Designed Williamsburg Home Sells for $3 Million

Producer Jason Sosnoff--who has worked on such films as Analyze This, The Good Shephard, and You Don’t Know Jack—has just sold his Williamsburg town home for $2.95 million, according to city records. Not only is this single family home at 154 Wythe Avenue a rare find in a neighborhood characterized by warehouse remodels, it also features three floors, a finished basement, a landscaped garden and a rooftop deck. Sosnoff had the 4BR/2.5BA townhouse redesigned by CWB Architect’s Brendan Coburn, who said, “let there be light” and–oh wait, was that another story?
Take a look inside the remodel here

July 1, 2014

The Air Up There: New Map Shows Untapped Development Potential of Every Manhattan Property

By Stephanie Hoina

When Extell Development, Hines and JDS Development Group tapped into air space along West 57th Street to push their projects to well above 1,000 feet, preservationist groups were up in the arms. Their outrage prompted The Municipal Art Society, a non-profit whose mission is to “fight for intelligent urban design, planning and preservation through education, dialogue and advocacy”, to create a new map showing just how much untapped development potential exists in the square footage above every property in Manhattan.
More on how the map was developed

July 1, 2014

If at First You Don’t Succeed… Anne Hathaway Sells DUMBO Clocktower Loft the Second Time Around

After re-listing her DUMBO digs for the second time in early June, Anne Hathaway has found a buyer for her Clocktower loft, last priced at $4.25 million. Hathaway snagged the 2BR/3.5BA unit at 1 Main Street with then-fiancé Adam Shulman in February 2013 for $4.1 million, but reportedly never moved in, instead using the 2,592-square-foot apartment as an extremely oversized closet. The unit first hit the market in September 2013, but was removed shortly thereafter in December. The buyer hasn't yet been identified, but he or she will certainly not be disappointed with the giant master suite, library and media room, corner layout, and spectacular views of the Brooklyn Bridge, Manhattan Bridge, and Manhattan skyline.
Get All of the A-list details this way

June 30, 2014

From Gilded Movie House to University Gym: Uncovering the Past of the Brooklyn Paramount Theatre

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