Real Estate Trends

Situated on the 18th floor of the iconic Parc Vendome at 340 West 57th Street, this three-bedroom residence has been featured in Architectural Digest, and we can see why. Asking $4,350,000, the 2,600-square-foot Manhattan apartment has understated pre-war details, graciously proportioned rooms, and closets galore. Owned for 25 years by philanthropist, educator, and humanitarian Vartan Gregorian, the home's layout puts everything right where you'd want it, with space to spare.
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John Legend and Chrissy Teigen’s $18M Nolita home finds buyer

All photos courtesy of Tina Gallo

April 20, 2022

John Legend and Chrissy Teigen’s $18M Nolita home finds buyer

John Legend and Chrissy Teigen have sold their two penthouses in Nolita, CityRealty first reported. The over 6,100-square-foot, six-bedroom spread is located at 374 Broome Street, a landmarked six-story former carriage house converted in 2005 into a nine-unit condominium. The couple listed the two apartments, which occupy the full sixth floor and half of the fifth floor, in January for $18 million.
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New two-acre rooftop public park opens at Pier 57 in Chelsea

Photo Credit: Brett Beyer

April 19, 2022

New two-acre rooftop public park opens at Pier 57 in Chelsea

More than 10 years and over $400 million later, an 80,000-square-foot public park is now open on the rooftop of Pier 57 in Hudson River Park. Formerly a maritime port and bus depot, the pier has been transformed into a mixed-use development with office space for Google and a new food hall curated by the James Beard Foundation. The new two-acre green space, the largest of its kind in New York City, will be open to the public daily from 7 a.m. and 10 p.m.
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Real Estate Trends

Rent Guidelines Board recommends increases between 2.7% and 9% for rent-stabilized units

Image courtesy of Creative Commons

April 14, 2022

Rent Guidelines Board recommends increases between 2.7% and 9% for rent-stabilized units

The city's Rent Guidelines Board on Thursday released a report recommending a rent hike for rent-stabilized apartments due to an increase in operating costs for landlords over the last 12 months. According to the agency's 2022 Price Index of Operating Costs report, owners saw costs rise by 4.2 percent. Using three formulas, the board recommended an increase in rent of between 2.7 percent and 4.5 percent for one-year leases and between 4.3 percent and 9 percent for two-year leases. The suggested rent increase comes after the board voted to not raise rents for six months last year and fully freeze rents in 2020.
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JPMorgan’s 60-story Midtown East tower will be NYC’s largest all-electric skyscraper

Rendering: dbox / Foster + Partners

April 14, 2022

JPMorgan’s 60-story Midtown East tower will be NYC’s largest all-electric skyscraper

JPMorgan Chase on Thursday unveiled the design for its massive new global headquarters in Midtown East, set to become one of New York City's tallest buildings. Roughly three years after the project was approved by the city and a year after construction began, fresh renderings show off the Foster + Partners-designed tower at 270 Park Avenue, which will soar nearly 1,400 feet and be all-electric. The building, which will house up to 14,000 employees, boasts a unique "fan-column" structure that is lifted about 80 feet above street level as well as a new public plaza on Madison Avenue.
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$4M Carroll Gardens duplex condo has a private garage and a parking lot-sized terrace

Photo courtesy of Brown Harris Stevens

April 14, 2022

$4M Carroll Gardens duplex condo has a private garage and a parking lot-sized terrace

Set among a corridor of modern residences that lie between quaint Carroll Gardens and industrial Gowanus, this three-bedroom duplex condo at 345 Carroll Street, now asking $3,995,000, has just about everything you could ask for in its 2,912 square feet of living space. The garden floor condo is even blessed with the urban rarity of a private one-car garage as well as a massive private outdoor terrace. With an entire floor of "bonus" spaces that include a mudroom, laundry room, and two offices, it's almost like having a townhouse with the ease of condo living.
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Sales launch at Robert A.M. Stern’s waterfront Chelsea condo, two-bedrooms priced from $4M

All images courtesy of Related Companies

April 7, 2022

Sales launch at Robert A.M. Stern’s waterfront Chelsea condo, two-bedrooms priced from $4M

Related Companies on Thursday launched sales at The Cortland, a new 25-story waterfront luxury condo designed by Robert A.M. Stern Architects (RAMSA) with interiors from Olson Kundig. Located at 555 West 22nd Street in Chelsea, the tower offers residents views of the Hudson River and almost 20,000 square feet of amenity space. While exact pricing for all 144 loft-like residences has not been released yet, a spokesperson for the project said two-bedrooms start at just above $4 million and over $21 million for four bedrooms.
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April 5, 2022

Ralph Lauren picks up $4M co-op in his UES building of 40 years

Ralph Lauren and his wife Ricky have bought a second apartment in the same Upper East Side building where the couple has lived for the past four decades. As first reported by the New York Post and confirmed by property records, the fashion designer paid $4,000,000 for a co-op at 1107 Fifth Avenue, a 14-story building on the corner of East 92nd Street in the Carnegie Hill Historic District.
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$1.58M Seaport duplex condo is in Manhattan’s third-oldest building

Photo credit: Rise Media

April 1, 2022

$1.58M Seaport duplex condo is in Manhattan’s third-oldest building

Situated on cobblestoned Water Street in Lower Manhattan, this two-bedroom duplex condo, asking $1,575,000, sits behind the charming facade of what is said to be the borough's third-oldest surviving building. Built around 1773, the listing tells us, the Captain Joseph Rose House at 273 Water Street is “the oldest dwelling and shop, and the third oldest building surviving in Manhattan.” The apartment within, however, offers every contemporary convenience, with the extra perk of a private roof deck with World Trade Center and city skyline views.
Take a look behind the historic facade

Penthouse atop Upper East Side’s historic former Hotel Wales hits the market for $23M

Capping the reinvention of the former Hotel Wales at 1295 Madison Avenue as luxury condominium residences, a newly-constructed 4,179-square-foot penthouse spanning the building's highest floor has just arrived on the market. The $23,000,000 home in the Carnegie Hill Historic District contains five bedrooms and seven bathrooms; its biggest asset, however, may be the 3,114 square feet of wrap-around terraces on two levels with Central Park views, an outdoor kitchen with a wet bar, a fireplace, and a butler’s pantry.
Get a peek at this parkside penthouse

In Harlem, a treasure-filled corner condo with a huge outdoor terrace asks $4M

All photos by Eitan Gamliely for Sotheby’s International Realty

March 16, 2022

In Harlem, a treasure-filled corner condo with a huge outdoor terrace asks $4M

What's old is new again at this totally renovated corner apartment in the center of Harlem. On the 27th floor of the high-rise condominium at 1485 Fifth Avenue, this three-bedroom home is currently a showcase of antiques and artwork. Custom built-in lighted shelving throughout the apartment displays collected treasures in the most elegant way possible. Asking $3,995,000, this Uptown aerie offers breathtaking Manhattan views through walls of windows and a layout that maximizes privacy.
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The priciest private development in the Bronx opens first residential tower with rents to match

Rendering courtesy of ArX Solutions

March 11, 2022

The priciest private development in the Bronx opens first residential tower with rents to match

The priciest private development in the Bronx opened its first residential tower this week with rents to match. Developed by Brookfield Properties, the $950 million mixed-use Bankside project is one of the largest private investments in Bronx history and sits on 4.3-acres along the Mott Haven waterfront. On Thursday, rents for the market-rate apartments at Third at Bankside were revealed, with prices ranging from $2,455/month for studio apartments to $7,334/month for a three-bedroom unit with a private terrace.
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Sales launch at Brooklyn’s first supertall, condos priced from $875K

Image courtesy of JDS Development Group

March 10, 2022

Sales launch at Brooklyn’s first supertall, condos priced from $875K

Brookyn's first and only supertall tower officially launched sales on Wednesday. Designed by SHoP Architects, the Brooklyn Tower is a 93-story skyscraper standing at 1,066 feet in Downtown Brooklyn. Located at 9 Dekalb Avenue, the building's 150 condo units start on the 53rd floor of the tower at an elevation of 535 feet, providing unparalleled views of the surrounding cityscape. Residences are priced from $875,000 for studios to $8 million for four bedrooms. One-bedrooms start at $1.2 million, two-bedrooms at $2.4 million, three-bedrooms at $2.95 million, and four-bedrooms at $5.9 million.
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Gloria Vanderbilt’s childhood home on the UES has sold for $32.2M

Photos courtesy of Douglas Elliman

March 8, 2022

Gloria Vanderbilt’s childhood home on the UES has sold for $32.2M

After hitting the market for $50 million in 2019, the seven-story Gilded-Age Upper East Side townhouse where late socialite Gloria Vanderbilt lived as a child has sold for $32.2 million. According to the New York Post, a group of Russian investors bought the 27-foot-wide mansion for $19 million in 2014 with plans to transform the property into three separate condo units and sell for $70 million. The investors sold the home at 39 East 72nd Street to an unknown buyer using an LLC, according to the newspaper.
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Photo of NYC’s Billionaires’ Row in 2020: Wikimedia commons

March 1, 2022

New transparency bill would make it harder for international elites to hide behind LLCs in NY

State Sen. Brad Hoylman and Assembly Member Emily Gallagher on Tuesday introduced legislation that would help shine a light on the money behind Limited Liability Companies (LLCs) and anonymous shell companies. The new bill would help uncover assets of international oligarchs, trace tax evaders and help hold bad landlords accountable by requiring LLCs to disclose to the NYS Department of State the names and addresses of their beneficial owners.
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$4M Tribeca loft offers privacy and plenty of room for living

Photo credit: Yale Wagner for Sotheby’s International Realty

March 1, 2022

$4M Tribeca loft offers privacy and plenty of room for living

For anyone who dreams of loft living but wants modern condo convenience and privacy, this freshly renovated Tribeca loft in the Sugar Warehouse at 79 Laight Street should hit a sweet spot. For $3,995,000 you get a private elevator landing, three well-distanced bedrooms, a huge entertaining space, and sparkling new finishes in an authentic, historic loft frame.
More modern loft goodness, this way

Manhattan borough president calls for seizure of Russian oligarchs’ NYC properties

220 Central Park South as seen in May 2020. Photo by Jim.henderson (cropped) via Wikimedia Commons.

February 28, 2022

Manhattan borough president calls for seizure of Russian oligarchs’ NYC properties

High-profile sales deals with wealthy Russian buyers have made headlines–Dmitry Rybolovlev's $88 million condo buy at 15 Central Park West, for example–and Manhattan's trophy condos have been seen as a safe investment for Russian oligarchs. But since Russia's invasion of Ukraine, there have been calls to seize those properties, The Real Deal reports.
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A lofted upper level gives this $2.75M Chelsea condo extra living space

Photo credit: Scott Wintrow for The Corcoran Group

February 25, 2022

A lofted upper level gives this $2.75M Chelsea condo extra living space

This two-bedroom condo at 121 West 20th Street, asking $2,750,000, has classic Manhattan loft details like 15-foot ceilings, oversized windows, and cast-iron columns. A lofted mezzanine provides the second bedroom, plus office space and closets, and a new renovation adds a sleek kitchen, designer fixtures and finishes, and contemporary convenience.
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Jon Bon Jovi finds a buyer for $22M Greenwich Village condo

Photo credit: COMPASS / Shannon Dupré

February 24, 2022

Jon Bon Jovi finds a buyer for $22M Greenwich Village condo

Just a few weeks after hitting the market, the four-bedroom Greenwich Village home of musician Jon Bon Jovi has sold for $22 million. The New Jersey native listed his corner condo unit at the Greenwich Lane building earlier this month. As CityRealty reports, the apartment fetched the asking price.
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See the luxury condo towers coming to one of Greenpoint’s remaining waterfront parcels

Images courtesy of SERHANT. New Development. Renderings by Christian Eriksson, Redundant Pixel

February 23, 2022

See the luxury condo towers coming to one of Greenpoint’s remaining waterfront parcels

A new luxury residential project is set to rise on one of Greenpoint's few remaining vacant waterfront parcels. First spotted last month by CityRealty, The Huron is a two-tower condo development featuring 171 units ranging from studios to four bedrooms. Developed by Quadrum Global, the two towers boast eight exposures that maximize waterfront views and 30,000 square feet of amenity space, including an indoor saltwater pool overlooking the Manhattan skyline.
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The contemporary curves of this $15.3M Village condo hold a family-sized home

Photo credit: Tim Waltman/Evan Joseph Images

February 22, 2022

The contemporary curves of this $15.3M Village condo hold a family-sized home

This 4,535-square-foot pre-war corner condo at 65 West 13th Street in Greenwich Village has the stylish contemporary lines of a gallery and the 12-foot ceilings of a loft, with sweeping city views. A renovation designed by Workshop/APD created a perfect canvas for an art collection–and a sprawling refuge for family living. Thanks to four bedrooms in separate wings, a playroom, den, and laundry room, living in the city doesn't have to mean giving up space–though it does mean parting with $15,300,000.
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February 18, 2022

Paul McCartney sells Fifth Avenue apartment for $8.5M, at a $7M loss

Ex-Beatle Paul McCartney has just sold his Upper East Side co-op at 1045 Fifth Avenue for $8.5 million, The Real Deal reports. Sir Paul and his wife, Nancy Shevell, purchased the four-bedroom co-op in 2015 for $15.5 million. The duplex penthouse overlooking the Central Park reservoir was first listed in June for $12 million, then received another cut before going into contract in October.
More on this mid-century modern gem

$2.8M Dumbo loft solves work-life balance with side-by-side home offices

Photo courtesy of The Corcoran Group

February 15, 2022

$2.8M Dumbo loft solves work-life balance with side-by-side home offices

In the iconic Clocktower Dumbo at 1 Main Street, this 1,655-square-foot loft condo is the perfect home base for your life and your work. The $2,825,000 one-bedroom-plus loft boasts two separate compact office spaces, a flex room that's large and lined with closets, and plenty of storage throughout, in addition to a huge kitchen-dining-living room and a gracious primary suite. For inspiration, large steel-framed windows offer the neighborhood's unbeatable views of the Brooklyn Bridge, East River, and Manhattan skyline.
A very short commute, this way

New York City’s housing experts have a wish list for Mayor Adams

Mayor Eric Adams announces his housing leadership team in the rotunda at City Hall on Sunday, January 30, 2022. Michael Appleton/Mayoral Photography Office via Flickr.

February 14, 2022

New York City’s housing experts have a wish list for Mayor Adams