Real Estate Trends

Walmart heiress, philanthropist, and the 14th richest person in the world, Alice Walton, will be moving into a $25 million duplex condo at 515 Park Avenue. The Post reports that the Walton claimed the 30th and 31st floors of the Lenox Hill co-op building — a unit with 6,346 square feet of space hosting five bedrooms, six bathrooms, a grand staircase, and 52 windows that offer up panoramic views of the city. 515 Park also has its own exclusive kitchen and caterer, Chef Daniel Boulud, and 15 private, climate-controlled wine cellars.
Take a look inside here

June 12, 2014

Up Up and Away: Manhattan Rents Highest in Five Years

By Stephanie Hoina

If you’re looking for a Manhattan rental you may want to act quickly as rents are trending upwards in the recently sluggish rental market. According to Douglas Elliman’s May 2014 Rental Report the median rent of an apartment in Manhattan will set you back $3,300, an increase of 3.1% over the same period last year […]

Real Estate Trends

June 12, 2014

Tribeca Loft That Wouldn’t Sell Will Be Just as Happy as a $45K/Month Rental

When the going gets tough...put your massive Tribeca condo on the rental market for $45,000/month. Well, at least that's what the owners of Apartment 1 at 16 Jay Street recently did after trying to sell the pad since April 2011. Available immediately, the space can come furnished or unfurnished. Known in the design community for its sweeping cast-iron and mahogany staircase that was welded together inside the home in the shape of a double ellipsis, this floor-through apartment occupies the entire 4,200 square feet of 16 Jay Street's first floor. It has 3BR/3BA and a 900-square-foot patio that contains a 25-foot-high sculpture and heated limestone flooring.
The interior excitement continues here

June 11, 2014

Silvershore Investors Attempt a Flip for the Record Books on a Sutton Place Townhouse

Last month, Jason Silverstein and David Shorenstein of Silvershore Properties along with investor Norman P. Rappaport purchased a $7.8 million Sutton Place townhouse. And just like that, they’re flipping it with an asking price of… wait for it… $19.95 million. We’re not sure what rabbit Brown Harris Stevens listing agent Paula Del Nunzio plans to pull out of the hat but achieving a flip that big would be nothing short of spectacular. However, according to her webpage, she already has a few record-breaking sales under her belt.
More photos of the townhouse here

June 10, 2014

Light-Filled Greek Revival Townhouse in Brooklyn Heights Finds a Buyer for $6.8M

Brooklyn Heights is one of the city's most coveted neighborhoods, and it's no wonder why. With its beautiful tree-lined streets, historic architecture, and that certain light which seems to bring a calm and peace to the streets, it's managed to draw everyone from best-selling authors to bankers to even Hollywood starlets. The latest and most notable sale for BK nabe is 19 Monroe, which just sold for $6.8 million through a listing held by Yolanda Johnson at Corcoran. The property hit the market back in March for $7.3 million, and while the interiors were admired by many, the ask made more than a few jaw drops. But let's not forget that this is NYC, and it never hurts to be overly ambitious...
Take a peek inside this unique townhouse

June 10, 2014

Quirky Soho Loft With Honey-Comb Skylight Sells for $2.15 Million After 6 Months on the Market

After more than half a year on the market, the Broome Street co-op with an interesting honey-comb skylight has finally sold for $2.155 million. There’s no doubt 428 Broome Street #1R is an interesting unit, even for a building constructed in 1879. The Soho loft has all the tell-tale signs of an older reconstruction with exposed brick walls, 16’ ceilings and an open floor plan - one that features 1,765 square feet of open floor space. However, the cast iron Corinthian columns and the honey-comb skylight give the loft an almost medieval vibe. The result is an interesting contrast to Soho’s typical industrial architecture.
More inside this interesting loft this way

June 10, 2014

“Limited Edition” Penthouse in the Ultra Posh Puck Building Closes for $28 Million

And it's official: After going into contract December of last year, Penthouse IV in the illustrious Puck Penthouses at 295 Lafayette has closed for $28 million, according to city records filed yesterday afternoon. The penthouse is the second largest in the penthouse-only building (there are six overall), with more than 5,900 square feet of space, 3BR/5.5BA, and a whopping 2,000 square feet of terraces overlooking a garden. Four of the Puck's five other penthouses have yet to be listed, but they are anticipated to sell for between $21 million and $60 million. The Puck is one of burgeoning real estate tycoon Jared Kushner's many luxury residential undertakings, and this particular project transforms the interior of a landmarked building into what the Puck official site has dubbed as "limited edition" properties.
Images of the puck penthouses this way

June 9, 2014

Moby Sells Off His ‘Tiny’ But Charming Mott Street Penthouse for a Cool $2 Million

By Annie Doge

Electronic music maker Moby has just sold off his "tiny" penthouse at 262 Mott Street in Nolita. Moby bought the home for a mere $215,750 back in 1996 and managed to make quite a bit of money with the recent sale, turning a profit of about $1.5 million after taxes (we guess the artist is now eating crow). The 950-square-foot, 1BR/1BA home is covered with large vaulted skylights and also boasts exposed brick walls, a sleeper mezzanine loft and a private 875-square-foot garden terrace. The listing was held by Corcoran's Julie Pham.
Check out the interiors here

June 9, 2014

Antonio Lobon’s Zen Loft Finally Sells for $6.3 Million

After nearly four years on the market, international businessman Antonio Lobon took his $7 million Tribeca loft off the market. Earlier this year, the Hudson Street condo made its triumphant return to the market with new representation in Douglas Elliman agents Nicole Krinick and Frances Katzen, new photos, and a lower asking price of $6.5 million. It worked. 195 Hudson Street #6B officially closed for just $200 thousand below asking, and the new owners are none other than the previous owners of this gorgeous, recently sold apartment at the historic Worth Building.
Find your center with more photos of this Zen loft here

Brooklyn Navy Yard Gears Up for Expansion, 1.8 Million Square Feet to be Added

Over the years, the Brooklyn Navy Yard has become a modern manufacturing pole, and it has grown to host spaces for everyone from furniture makers to photographers to even financial services companies. Demand for space has grown tremendously, and in response, the Navy Yard has announced plans to create another 1.8 million square feet of space for both future and current tenants looking to grow their businesses.
More of what's in store this way

June 9, 2014

Country-Chic Apartment in Village Townhouse Finds a Buyer for $1.8M

No, we didn't get these pictures from the pages of Country Living magazine, but this stylish home most certainly could grace its cover. The 3BR/2BA apartment in a Greenwich Village Greek Revival townhouse recently sold for $1.795 million through a listing held by Corcoran. Apartment 3FR at 288 West 12th Street is a 950-square-foot, floor-through unit that has been thoughtfully restored to emphasize the home's pre-war character. Original details include three wood-burning fireplaces, wide-plank yellow pine floors, and leaded-glass windows.
Right this way for more design details

June 6, 2014

Egypt’s Richest Man Scoops Up the City’s Most Expensive Co-op for $70 Million

David Geffen has been dethroned as the person to have spent the most on a co-op in NYC, ever. Egyptian billionaire, a.k.a. the richest man in Egypt, Nassef Sawiris closed on the pad at 960 Fifth Avenue this afternoon through a listing held by Brown Harris Stevens. The penthouse apartment was originally going for $65 million earlier this spring, but power brokers Mary Rutherfurd and Leslie Coleman of Brown Harris Stevens managed to squeeze an extra $5 million out of Sawiris in a bidding war. Funnily enough, 960 has been cited as one of the city's 'A-plus' buildings, and in 1997 a New York Times article wrote that most residents in the building "are worth over $100 million" and that apartments cost about $15 million — my how times have changed!
Take a look inside the opulent apartment here

June 6, 2014

Former Bush Appointee Buys in Cobble Hill for $1.7 Million

Don't tell the crunchy neighbors in baby-laden Cobble Hill, but there's a Republican moving into the neighborhood. According to public records filed yesterday evening, Reuben Jeffery III, the former Under Secretary of State for Economic, Business and Agricultural Affairs, appointed by George W. Bush, and his wife Robin have purchased a unit in a pre-war co-op at 174 Pacific Street. Records also listed their daughter, Jocelyn — for whom we can only assume the purchase is made (Mamma and Papa Reuben bought a full-floor pad just last year at 620 Park Avenue for $9.16 million). The 2BR/2BA apartment, which is conveniently located near Trader Joe's, was purchased for $1.7 million through a listing held by Brown Harris Stevens.
A look Inside the Pacific Street Home this way

June 6, 2014

Historic Townhouse with Rear Carriage House Finds a Buyer for $6.25M

In one of the city's most charming residential pockets, a turn-of-the-century townhouse with a lovely combination of historic details and modern touches has sold for $6.25 million through a listing held by the Corcoran Group. 251 East 61st Street is a four-story brick home with an exceptionally rare two-story rear carriage house. The 5BR/3.5BA townhouse went through a recent renovation that included refinishing the hardwood floors and repainting the front facade and interior walls.
See what else this beauty has in store

June 5, 2014

Jamestown Properties Wants to Turn Sunset Park’s Industry City Into the Next Chelsea Market

By Stephanie Hoina

If you renovate, will they come? It’s been less than a year since Jamestown Properties, the developer behind the successful Chelsea Market, acquired a 50% stake in the mostly abandoned industrial warehouse complex in Brooklyn’s Sunset Park known as Industry City. Along with investment partners Belvedere Capital and Angelo, Gordon & Company, Jamestown plans to translate the success of Chelsea Market on a scale six times the size – 16 buildings encompassing over 6 million square feet formerly known as Bush Terminal. But while Brooklyn is currently the darling of the five boroughs, Sunset Park doesn’t quite have the cache of Chelsea – yet, and the viability of such an enormous undertaking is ten years in the making.
Watch a video interview with the developers this way

Real Estate Trends

June 4, 2014

Art Collector Sells Massive SoHo Simplex for $4.5 Million to Reportedly Pesky Neighbors

It's New York. We live in close proximity and have all had those annoying neighbors — the man that moves his furniture around in the middle of the night, the college students that blast electronic music, and the couple with the dog that never stops howling. It's not every day, though, that you get neighbors operating a full-on filming studio out of their home, but that's exactly what Chelsea residents accused interior designer Betsy Morgan and her husband Jonathan Cary of, according to the New York Post. It was reported that Morgan was illegally advertising her $6 million West 21st Street townhouse on numerous websites for film locations and photography shoots at the rate of $850 per day, the ruckus from which did not make neighbors happy. The couple is now making headlines again by purchasing the city's largest available simplex at 84 Mercer Street. The $4.5 million, 9,000-square-foot loft is definitely camera worthy with its original wooden beams and columns, huge open layout, and remarkable potential for displaying art, but let's hope Ms. Morgan will not be bringing any outside cameras into her new pad.
More about the artsy past owners and the gorgeous digs this way

June 4, 2014

Annie Liebovitz Purchases Central Park Pad Next Door to Robert De Niro

Robert De Niro just got a new neighbor, and it’s esteemed photographer Annie Liebovitz. Liebovitz nabbed the Brentmore co-op for $11.25 million, a bit lower than the $14.5 million asking price from a year and a half ago. However, the celebrity photographer will be gaining more than an A-list neighbor. After a long day of work she’ll have a gorgeous 3BR/3.5 bath duplex to return to. The apartment has its own appreciation for the picturesque, with large windows framing Central Park and delivering front row views to the Macy's Thanksgiving Day Parade.
Take a glimpse inside the photographer's new home here

June 3, 2014

The Results Are In: Rebuild By Design Announces Winning Proposals for Post-Sandy Flood Protection

Over a year after Hurricane Sandy tore through the metro New York area, destroying lives and homes, some areas are still in the process of rebuilding. In an effort to ensure New York City is never caught off guard from a natural disaster like we were in the fall of 2012, the Department of Housing and Urban Development launched Rebuild By Design, a contest to develop ways to rebuild the city’s most vulnerable areas in such a way that they’ll be better prepared for nature’s unpredictability. 140 proposals were submitted over a year ago, coming from 15 different countries. Last June, 10 finalists were chosen to refine their plans, developing protective strategies for all of the vulnerable areas that were struck, and will likely be struck again. After nearly a year, the Department of Housing and Development has just announced six winners that will receive a piece of the federal government's $4 billion disaster-recovery fund.
Take a look at the winning designs here

June 3, 2014

SNL Darling Kristen Wiig Sells Soho Loft for $2.675 Million

Former SNL star Kristen Wiig has just sold her Soho Loft for $2.675 million. 476 Broadway Apt. 10-M sits on the 10th floor of a pre-war building in the coveted Soho/Nolita area. Resting a good 4 or 5 floors above its surrounding buildings, this apartment gets tons of light, and its large windows provide unobstructed city views, including One World Trade Center and City Hall. The kitchen features top of the line appliances with a Sub-Zero refrigerator and a Waterstone Filtration System.
Take a glimpse inside the comedienne's former home here

June 3, 2014

Perfectly Picturesque Tribeca Penthouse is Off the Market

Finding your perfect apartment is much like selecting a significant other--it needs to be comforting, make you feel happy and safe, jive with your lifestyle, and, most importantly, be so attractive you can't keep your hands off it. We'd bet that the new owners of the penthouse at 47 Murray Street are currently in the honeymoon phase with their new digs. They snatched up the 3BR/3BA home for $4.76 million through a listing with Douglas Elliman, and what they received is a 2,825-square-foot duplex loft with two terraces, 13-foot ceilings, 9.5-foot windows, modern finishes, and plenty of wall space for an art display.
The love story continues here

June 2, 2014

Massive Soho Loft With Wraparound Terrace Sells for $14.5 Million

When you look at these New York buildings, it’s hard to imagine there’s space for a 7,000-square-foot loft inside. Well, the former home of Justin and Nicole Ehrlich is one of those spaces. 20 Greene Street #6A is definitely deserving of an Academy award with its dramatic tall ceilings and oversized windows. And it just sold to the tune of $14.5 million. This Soho loft, listed by Douglas Elliman, doesn’t do anything halfway. Its giant living room is large enough to be its own apartment, for starters.
Take a closer look at this glamorous loft here

June 2, 2014

Set Designer for Saturday Night Live Buys Artsy SoHo Loft

Leo Yoshimura, a set designer and art director for late night television shows like Saturday Night Live and the Late Show with Conan O'Brien, has purchased unit 5W at SoHo's 565 Broadway for $4.2 million through a listing held by Keller Williams. This is a D2 class/artist in residence building, meaning it's a former industrial site that was converted to residential and now its apartments must be inhabited by a certified artist. The artistically designed loft seamlessly blends historic character with sleek modernism. Original columns punctuate the 2,740-square-foot 3BR/3BA space, which retains its large windows and high ceilings. The interior window cutouts let natural light traverse the entire unit, as does the contemporary frosted glass divider that leads into the boldly painted red den.
More details this way

May 30, 2014

One Vanderbilt: New 65-Story Tower Near Grand Central to Stand Taller Than the Chrysler Building

It looks like the Chrysler Building is about to get a new neighbor. According to the New York Times, SL Green has reportedly proposed the development of a 1,200-foot, 65-story tower that would occupy the block between 42nd and 43rd Streets, and Vanderbilt and Madison Avenues. This proposal will have to undergo a review process as part of a new de Blasio administration plan to rezone an area of Vanderbilt Avenue for larger buildings. De Blasio’s proposal is a 2.0 version of a failed bid by Michael Bloomberg that would rezone an area around Grand Central Terminal. Bloomberg’s proposal – which would affect a 73-block area around the terminal - concerned officials and preservationists, who were concerned that the plan would add to the congestion in the area. Fulfilling one of his campaign promises, de Blasio has devised a plan to mitigate those issues as well as keep the city competitive for decades to come, by creating more office space in the prime business location.
Learn more about the iconic tower's new neighbor

Real Estate Trends

May 29, 2014

Market Snapshot: The Week of May 29, 2014