Real Estate Trends

New details for ODA’s curvy condo tower on the Lower East Side

All images courtesy of ODA New York

April 13, 2021

New details for ODA’s curvy condo tower on the Lower East Side

In preparation for a spring sales launch, new details and a teaser website for the 12-floor residential building at 208 Delancey Street on the Lower East Side have been revealed. As first spotted by New York Yimby, fresh renderings of the ODA New York-designed project show a bright lobby with a natural color scheme and an impressive rooftop terrace with plantings and multi-use areas. In total, the building measures 85,000 square feet and contains 85 units, including two ground-floor townhouses.
Details here

Why now is the right time to move to New York City

Photo by Valentin Wechsler on Unsplash

April 12, 2021

Why now is the right time to move to New York City

By Karen Zabarsky

In November 2020, Heather White decided it was time to move to Brooklyn and open her gym’s second location there. She founded Trillfit, a runaway fitness sensation, in Boston and was ready to expand. People in her life told her New York is not the place to be right now. Her response: New York is always the place. "When everybody goes left, we go right." It’s the best-kept secret among New Yorkers—now is the time to move to New York City.
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Condo sales relaunch at 200 Amsterdam after court delays

Rendering courtesy of Binyan Studios

April 8, 2021

Condo sales relaunch at 200 Amsterdam after court delays

By Devin Gannon

Sales have resumed at 200 Amsterdam Avenue, the 52-story Upper West Side tower that has faced a series of legal challenges since 2017. Developed in partnership by SJP Properties and Mitsui Fudosan, the building is 668 feet tall, the tallest in the neighborhood. The tower nearly lost that superlative after a judge in February 2020 ruled that as many as 20 floors may have to be chopped from the building for violating zoning rules. But last month, the New York State Appellate Court reversed that decision and declared the developer's permit valid.
Details here

$950M South Bronx development Bankside set to open first residential tower this year

Renderings courtesy of ArX Solutions

March 31, 2021

$950M South Bronx development Bankside set to open first residential tower this year

By Devin Gannon

The most expensive private development in the Bronx continues to progress. Brookfield Properties announced this month that the final tower at the phase one site of Bankside, a seven-tower waterfront complex in Mott Haven, has topped out. The $950 million mixed-use project takes up two parcels on either side of the Third Avenue Bridge on the Harlem River. Third at Bankside, located at 2401 Third Avenue, has officially topped out and developers have broken ground at Lincoln at Bankside, located at 101 Lincoln Avenue.
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What will post-pandemic real estate look like in NYC? Experts weigh in

Photo by Clay LeConey on Unsplash

March 29, 2021

What will post-pandemic real estate look like in NYC? Experts weigh in

By Dana Schulz

A year ago, there was so much uncertainty surrounding the pandemic and politics, which made real estate somewhat of a gamble, at least in hard-hit New York City. When it came to the headlines, it seemed all anyone could talk about was the mass exodus from the city. Home prices were soaring in the surrounding suburbs, with stories of lines around the block for open houses and bidding wars. But in the city, vacancies were at an unprecedented high. A year later, though, and a quarter of New Yorkers are vaccinated, and we're starting to see "normal" life resurface. To understand how the residential real estate market is rebounding, we spoke to experts in the field, including brokers, developers, and data gurus, to get their thoughts on timing, prices, the luxury market, surrounding suburbs, and more.
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Real Estate Trends

All renderings courtesy of James Corner Field Operations and BIG- Bjarke Ingels Group

March 18, 2021

Plan for massive towers and public beach in Williamsburg moves ahead with new looks

By Devin Gannon

The proposal to construct two mixed-use skyscrapers and a public beach on the North Brooklyn waterfront is moving forward, although with an updated design, timeline, and name. As first reported by Brooklyn Paper, Two Trees Management is preparing to start the city's uniform land use review procedure (ULURP) in the coming weeks for its project "River Ring," which includes two huge towers designed by Bjarke Ingels with more than 1,000 units of housing, a YMCA, and an environmentally-conscious park with a cove and beach.
Details this way

New Hell’s Kitchen condo has an 8,000-square-foot elevated park and a Target

All renderings by VISUALHOUSE

March 16, 2021

New Hell’s Kitchen condo has an 8,000-square-foot elevated park and a Target

By Dana Schulz

Occupying the full block of 10th Avenue between West 44th and 45th Streets, the new 92-unit condo Bloom on Forty Fifth at 500 West 45th Street has officially launched sales. Designed by Marvel, the eight-story building is in keeping with Hell's Kitchen's lower scale, but the geometric architecture mixing glass, concrete, and steel is modern and fresh. The most unique aspect of the residence its 8,000-square-foot elevated terrace between the north and south towers, and, very conveniently, there's a Target in the base. Units start at $750,000 for studios, $892,500 for one-bedrooms, $1,695,750 for two-bedrooms, and $2,875,000 for three bedrooms.
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Soaring terraces and a hotel-like feel are on offer at new Upper East Side condo The Leyton

All renderings courtesy of Binyan Studios

March 15, 2021

Soaring terraces and a hotel-like feel are on offer at new Upper East Side condo The Leyton

By Devin Gannon

Sales have launched at a new condo tower on the Upper East Side that offers large, light-filled residences and hotel-inspired amenities. The Leyton, located at 1059 Third Avenue in the Lenox Hill neighborhood, contains 38 luxury homes, priced from $2.1 million for a one-bedroom to $11.6 million for a four-bedroom, along with a duplex penthouse with the price available upon request. Designed by former Rafael Viñoly architect Manuel Glas, the glass and stone tower features an Art Deco-inspired exterior with chic interiors from Frampton Co and distinctive amenity space by Champalimaud Design.
Details here

Affordable, no-fee luxury rentals in Midtown West

All photos courtesy of the Gotham Organization

March 9, 2021

Affordable, no-fee luxury rentals in Midtown West

By Devin Gannon

With its rooftop garden and courtyard, luxury residences, and prime Hell's Kitchen location, Gotham West ticks off all the boxes. What makes the four-building complex truly stand out against other amenity-rich developments, other than its proximity to both Hudson River Park and the culinary darlings of the neighborhood, is its affordable housing. When it opened in 2013, Gotham West was the largest affordable project by a private developer at the time, with about 55 percent of the units restricted by income. Today, applications are being accepted for its no-fee rentals, ranging from studios to three-bedrooms, which are designated for middle-income New Yorkers earning up to 135 percent and 165 percent of the area median income (AMI).
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Affordable units and height slashed at proposed Brooklyn Botanic Garden-bordering towers

Rendering: NYC Department of City Planning

February 24, 2021

Affordable units and height slashed at proposed Brooklyn Botanic Garden-bordering towers

By Devin Gannon

The developers behind a controversial proposal to build a pair of high-rise towers in Crown Heights next to the Brooklyn Botanic Garden have put forth a revised plan that would slash the building height and the number of affordable units offered. As first reported by The City, Continuum Company and Lincoln Equities launched a new project website that describes a 17-story residential building at 960 Franklin Avenue as an alternative to the 34-story project currently under review by the city.
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$5.49M condo with private infinity pool is Jersey City’s most expensive penthouse ever listed

By Devin Gannon

A condo in Jersey City has hit the market for $5.488 million, becoming the most expensive penthouse ever listed in the city. The Villa at the Oakman Condominiums at 160 First Street has four bedrooms, four and a half baths, and an incredible split-level outdoor terrace that measures 2,300 square feet and boasts a private heated infinity pool. Completed in 2016, Oakman rises 15 stories, contains 159 units, and is located just a few blocks from the Grove Street PATH station, making for an easy commute to Manhattan.
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See the new Long Island City condo tower anchored by Trader Joe’s

All renderings courtesy of Viserio

February 17, 2021

See the new Long Island City condo tower anchored by Trader Joe’s

By Devin Gannon

A new condo building in Long Island City is offering buyers a rare amenity in New York: private outdoor space. Located at 22-43 Jackson Avenue, The Prime contains 71 units, all of which boast balconies. And perhaps even more exciting for some, a Trader Joe's grocery store will open on the building's ground floor this year. Sales launched earlier this month at the building, developed by Circle F Capital and designed by Andres Escobar's Lemay+Escobar Architecture, with residences starting at $700,000.
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February 16, 2021

Candice Bergen buys $2M Upper East Side co-op

By 6sqft

According to city property records, actress Candice Bergen spent $2,150,000 on an Upper East Side co-op at 825 Fifth Avenue. The apartment last sold in 2007 for $1,600,000; it had previously been owned by eccentric real estate developer and political figure Abraham Hirschfeld, who passed away in 2005. In December, Ms. Bergen put her Hamptons home on the market for $18 million.
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Details revealed for new Morris Adjmi-designed condo on 14th Street

Rendering by Brdar

February 11, 2021

Details revealed for new Morris Adjmi-designed condo on 14th Street

By Dana Schulz

When it comes to a prime downtown location, the corner of 14th Street and 6th Avenue is pretty darn good. On the northeast corner, the new 50-unit condo at 540 6th Avenue was designed inside and out by Morris Adjmi, replacing a lower-scale building that held a long-time dance studio (one home to Merce Cunningham) and an outpost of Moscot eyewear. The 12-story condo, which topped out this past November, has now launched a teaser site as it gears up to launch sales. It's also been dubbed Förena, the Swedish word for "unite," a nod to the building's location at the nexus of Greenwich Village, Union Square, and Chelsea.
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Take a look inside the penthouses at the High Line-straddling Lantern House

A four-bedroom penthouse at Lantern House is on the market for $12.975 million. Credit: Related Companies

February 11, 2021

Take a look inside the penthouses at the High Line-straddling Lantern House

By Devin Gannon

Thomas Heatherwick's unique condo project on the High Line is showing off its collection of penthouses ahead of the building's impending completion this year. Lantern House, located at 515 West 18th Street in Chelsea, consists of two towers that rise on either side of the High Line, one at 10 stories and the other at 22. Last October we got a peek inside the bubbled residences, and now new images have been released of a four-bedroom, four-and-a-half-bath penthouse with a large outdoor terrace, currently listed for $12.975 million.
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NYC sees end-of-year residential sales surge, especially in Brooklyn and Queens

Photo by Jeffrey Blum on Unsplash

February 10, 2021

NYC sees end-of-year residential sales surge, especially in Brooklyn and Queens

By Devin Gannon

After three consecutive quarters of decline, the total residential sales volume and residential transactions in New York City during the final quarter of last year increased considerably. According to a new report released this week by the Real Estate Board of New York (REBNY), total sales increased to $9 billion in Q4 2020 from $6.5 billion in Q3, a roughly 40 percent increase in sales volume. Notably, the outer boroughs drove the surge in sales, with a sales volume increase of 90 percent in Brooklyn and 69 percent in Queens during this period.
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How Joe Biden will affect NYC’s renters, real estate, and recovery

Photo by Gage Skidmore on Flickr

January 20, 2021

How Joe Biden will affect NYC’s renters, real estate, and recovery

By Devin Gannon

After Joe Biden is sworn in as the 46th president of the United States on Wednesday, his immediate focus will be getting the coronavirus pandemic under control and providing direct relief to Americans. In addition to immediate actions related to COVID-19, Biden's Day 1 housing priorities include extending the federal nationwide moratorium on residential evictions through the end of September and sending an additional $25 billion in rental assistance to states. Down the road, Biden has proposed fewer developer-friendly policies than his predecessor, including a repeal of the 1031 exchange and reform of the Opportunity Zone tax program. But overall, there is optimism among New York City real estate industry experts who see a Biden Administration as a way to restore stability and consumer confidence. With a pledge to defeat COVID-19 and send federal support to New York City, there's hope on the horizon for the city's recovery.
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Tommy Hilfiger sells lavish, chateau-style Connecticut estate for $45M

All listing photos by Samuel Rodriguez & Steve Rossi for Sotheby’s International Realty

January 19, 2021

Tommy Hilfiger sells lavish, chateau-style Connecticut estate for $45M

By Dana Schulz

Fashion mogul Tommy Hilfiger has unloaded the last of his Greenwich, Connecticut properties for $45 million, Sotheby's International Realty tells 6sqft. The 22-acre estate was built in 1939 and resembles a French chateau from the outside, with an eclectic, European flair inside. It's located on the summit of Round Hill, the highest point in Greenwich, providing views of the Long Island Sound and Manhattan skyline. Other lavish amenities include a baronial Elizabethan-style spiral staircase, six fireplaces, a pool house, tennis court, and parterre gardens. According to the Post, he and his wife Dee Ocleppo bought the home for $31.37 million in 2010, after which they spent millions more on renovations.
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Renderings and pricing revealed for VU, new Murray Hill condo with amazing views

All renderings by Unmarked Studio

January 14, 2021

Renderings and pricing revealed for VU, new Murray Hill condo with amazing views

By Dana Schulz

Murray Hill might not be the first neighborhood that comes to mind when thinking of luxury condos, but that just might be a good thing. VU, the new 100-unit project at 368 Third Avenue, is one of the tallest buildings in the neighborhood, which affords its 100 units incredible views of the East River, Midtown, and even down to the World Trade Center. We've now got our first look at the flashy new project, along with a pricing reveal.
Find out more here

January 13, 2021

Brooklyn Heights townhouse sells for $25.5M, breaks borough record

By Dana Schulz

As was first reported by The Real Deal, billionaire Vince Viola has sold his Brooklyn Heights mansion at 8 Montague terrace for a record-setting $25.5 million, according to city property records. The sale beats out the $20.3 million penthouse in Brooklyn Heights’ Quay Tower, which sold virtually back in April. Viola, an Army veteran who founded Virtu Financial and owns the NHL Florida Panthers, bought the home with his wife Teresa in 2007 for $8 million. At the time it was a multi-family dwelling, but they converted it to a single-family home. The new buyer is not identified, and it appears to be an off-market deal.
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Real Estate Trends

All renderings by VMI Studio

January 12, 2021

New looks and prices for luxury condo building at Essex Crossing

By Dana Schulz

The second condo building at the Essex Crossing mega-development has revealed a slew of new renderings, along with the first pricing details. Located at 202 Broome Street, One Essex Crossing is the seventh of nine buildings at the Lower East Side project. The 83-unit building was designed by CetraRuddy and is distinguished by its elevated 9,000-square-foot amenity garden. Prices range from an $890,000 studio to a $6,689,000 duplex penthouse. Occupancy is expected later this year.
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2020 luxury home sales rose 270% in some upstate New York counties

Downtown Rhinebeck, NY. Photo by Juliancolton via Wikimedia Commons

January 8, 2021

2020 luxury home sales rose 270% in some upstate New York counties

By Dana Schulz

It's not news at this point that throughout 2020 the suburbs of New York City were flooded with new home buyers, pushing up prices and leading to unbelievable bidding wars. But what is news is just how much certain upstate areas saw a rise. According to Houlihan Lawrence's Q4 2020 Market Report, Putnam and Dutchess counties saw a 269-percent increase in home sales $1 million and over. And in Westchester county, sales $2M and higher grew by approximately 53 percent.
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Real Estate Trends

220 Central Park South is the best-selling NYC condo by a long shot

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

January 7, 2021

220 Central Park South is the best-selling NYC condo by a long shot

By Dana Schulz

In a year where the number of real estate sales dropped significantly in New York City, it was a few top-tier new developments that kept things afloat. According to the CityRealty 100 report—an index comprised of the top 100 condominium buildings in Manhattan—this includes closings in 15 Hudson Yards, The Park Loggia, and Waterline Square. It also includes 220 Central Park South, which accounted for the top 22 sales during the 12 month period of this report and had a total of $1.52 billion in cumulative sales in 46 units.
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Real Estate Trends

Construction set to begin at huge South Bronx complex with Universal Hip Hop Museum

Rendering courtesy of S9 Architecture

January 6, 2021

Construction set to begin at huge South Bronx complex with Universal Hip Hop Museum

By Devin Gannon

Construction of the South Bronx mixed-use project that will have over 1,000 units of housing, a waterfront esplanade, and a permanent home for the Universal Hip Hop Museum is set to begin in the coming weeks. Developed by L+M Development Partners, Type A Projects, BronxWorks, and the city of New York in a public-private partnership, the project, known as Bronx Point, secured $349 million in financing last week. S9 Architecture is leading the design of the 22-story development, with the publicly-accessible open space along the Harlem River designed by Marvel Architects and Abel Bainnson Butz.
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See new renderings of controversial South Street Seaport towers and museum expansion

All renderings courtesy of Skidmore, Owings & Merrill / Howard Hughes Corporation

January 5, 2021

See new renderings of controversial South Street Seaport towers and museum expansion

By Devin Gannon

Plans to construct two 470-foot towers and expand a museum in the historic South Street Seaport neighborhood were met with mixed feedback during a public Landmarks Preservation Commission hearing on Tuesday. The Howard Hughes Corporation presented a proposal for a $1.4 billion mixed-use project consisting of rentals, condos, and office space at 250 Water Street, as well as a new building for the South Street Seaport Museum at 89 South Street. While those in favor of the project say it will bring much-needed affordable housing to a neighborhood that has almost none and help the museum stay open, opponents claim the project is out of scale with the rest of the district. New renderings of the proposed expanded museum show plans for a copper-clad exterior, flexible gallery space, an outdoor terrace, and a connection to the historic structure.
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Real Estate Trends

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