Real Estate Trends

Here’s what Facebook’s huge new office will look like at Midtown’s former Farley Post Office

Rendering courtesy of Vornado Realty Trust

August 4, 2020

Here’s what Facebook’s huge new office will look like at Midtown’s former Farley Post Office

Facebook has signed a lease for 730,000 square feet at the former James A. Farley Post Office, a Midtown landmark currently being converted into a mixed-use building, Vornado Realty Trust announced Monday. Reports of the deal first surfaced last December, but the coronavirus pandemic put into question the need for massive office space with thousands of workers. But Gov. Andrew Cuomo said the deal shows New York's resilience as the city recovers from the crisis. "Vornado's and Facebook's investment in New York and commitment to further putting down roots here - even in the midst of a global pandemic - is a signal to the world that our brightest days are still ahead and we are open for business," Cuomo said in a statement. "This public-private partnership fortifies New York as an international center of innovation."
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Jennifer Lawrence sells Upper East Side penthouse at a $6M loss

All photos courtesy of Compass

August 4, 2020

Jennifer Lawrence sells Upper East Side penthouse at a $6M loss

By Dana Schulz

In 2016, Jennifer Lawrence picked up a $15.6 million penthouse on the Upper East Side. She must have really wanted to offload it, because last summer, she listed it for $15,450,000 and dropped it to $12 million earlier this month. According to city property records, the Oscar-winning actress ultimately sold the home at 400 East 67th Street for $9,900,000, taking a nearly $6 million loss. Listing agent Pamela D'Arc of Compass declined to comment on the sale.
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Long Island mansion with an indoor pool and movie theater sells for record-setting $9.2M

Listing photos courtesy of Compass

July 29, 2020

Long Island mansion with an indoor pool and movie theater sells for record-setting $9.2M

By Dana Schulz

This over-the-top Mediterranean-style mansion on Long Island just sold for $9,225,000, making it the most expensive home sold this year in Nassau County, as well as the most expensive home sold in Sands Points since 2016 and the fourth-highest sale in the North Shore over the last five years. Sales records aside, the home's opulence speaks for itself. At a whopping 20,000 square feet, the waterfront estate has an indoor pool, movie theater (complete with a ticket booth and stage curtains!), a personal arcade (with skee ball and pinball machines), and tons of marble.
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Real Estate Trends

Photo by ajay_suresh via Flickr cc

July 29, 2020

Upper West Side and Murray Hill saw the biggest price drops during the COVID crisis

By Dana Schulz

Anyone who follows the NYC real estate market knows that there are deals to be had right now. But WHERE exactly can you get the most bang for your buck? CityRealty compared sale listings in January to those last week and found that the overall listing price among Manhattan condo, co-op, condop, and townhouse listings has fallen an average of 11 percent to $2,175,000 in the past seven months. And when it comes to specific neighborhoods, Lincoln Center, the Upper West Side neighborhood mainly centered around the 60s, saw prices fall the most at 32 percent. Murray Hill was next at 26 percent, followed by Beekman/Sutton Place at 22 percent.
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Real Estate Trends

Karlie Kloss sells her West Village home for $2.4M

Staged interiors by Christopher Henry Designs. Photo credit: Donna Dotan courtesy of Compass.

July 28, 2020

Karlie Kloss sells her West Village home for $2.4M

By Dana Schulz

After listing her townhouse co-op in the West Village for $2.75 million last September, supermodel and philanthropist Karlie Kloss has found a buyer at the slightly reduced price of $2,382,609, reported CityRealty. The three-bedroom triplex at 151 Charles Street is chic and contemporary and has both a front garden and a second-floor terrace. Kloss bought it in 2012 for $1,975,000. She and husband Josh Kushner sold their Nolita apartment for $6.6 million last August.
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All renderings by Williams New York

July 28, 2020

Brooklyn’s tallest tower commences closings and move-ins

By Dana Schulz

Not only is Brooklyn Point the tallest building in the borough, but it has the highest infinity pool in the western hemisphere. Superlatives aside, the 720-foot condo tower has also proved popular for its location across from Willoughby Square Park and its inclusion in the larger City Point development in Downtown Brooklyn. And in true Extell Development fashion, the amenity package is stacked, including a huge landscaped terrace complete with BBQs and a putting green, a triple-height lounge, and another indoor pool. Just in time for residents to enjoy all these perks, Brooklyn Point has announced that it's commenced closings and begun the first move-ins.
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$100M penthouse closes at 220 Central Park South, third-most-expensive NYC sale ever

Photo of 220 Central Park South in front of 111 West 57th Street (cropped) by Jim Henderson via Wikimedia Commons

July 28, 2020

$100M penthouse closes at 220 Central Park South, third-most-expensive NYC sale ever

By Dana Schulz

Photo of 220 Central Park South in front of 111 West 57th Street (cropped) by Jim Henderson via Wikimedia Commons As of July 1, 2020, the average price per square foot for a New York City condo came in at $1,110, according to CityRealty. But this duplex penthouse at 220 Central Park South sold for a whopping $12,164 per square foot. First spotted by The Real Deal and confirmed in city property records, PH 76 at the Billionaires' Row tower just closed for $99,903,375, making it the third-most-expensive sale ever, behind billionaire Ken Griffith’s $238 million purchase also at 220 CPS in early 2019 and Michael Dell’s $100 million buy at One57 in 2015. The sale takes the number-three spot from a $92.7 million sale at 220 CPS, which sold in late 2019 to billionaire hedge-funder Daniel Och.
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New looks and name for Islanders’ home venue, UBS Arena at Belmont Park

All renderings courtesy of UBS

July 28, 2020

New looks and name for Islanders’ home venue, UBS Arena at Belmont Park

By Devin Gannon

The future home for the New York Islanders hockey team has a name. Wealth management service UBS last week secured a 20-year naming rights agreement for the new sports and entertainment venue in Nassau County. The UBS Arena at Belmont Park is expected to open for the Islanders' 2021-2022 season, with the team returning to Long Island after playing home games at the Barclays Center in Brooklyn since 2015.
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Real Estate Trends

See inside an apartment at the world’s tallest residential building

Photo by Evan Joseph

July 24, 2020

See inside an apartment at the world’s tallest residential building

By Dana Schulz

It's been nearly two years since sales launched at Extell's Central Park Tower and one year since the 1,500-foot condominium topped out along Central Park South, making it the tallest residential building on the globe. And now, we've got our first look inside one of the enviable apartments at this Billionaires' Row building. The model residence is a 3,401-square-foot, three-bedroom corner unit on the 43rd floor, priced at $17,500,000. Not surprisingly, the interiors are decked out to the nines, but, of course, it's the insane views we can't stop ogling.
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CNN president Jeff Zucker finds a buyer for his glitzy $17.5M Upper East Side home

By Dana Schulz

After purchasing his Upper East Side co-op for $12.3 million in 2007, CNN chief executive Jeff Zucker first put the five-bedroom apartment on the market in February for $17.5 million. Now, the Wall Street Journal reports that Zucker and his wife Caryn have found a buyer for the large, glitzy pad, though the buyer's identity and final sale price have not yet been made public. Located at The Verona at 32 East 64th Street, the home is full of elegant touches like Venetian plaster walls, three working fireplaces, and a private elevator landing.
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Outdoor dining in NYC will be extended through October

Open streets dining outside the Beatrice Inn; Photo (cropped) by Eden, Janine and Jim on Flickr

July 17, 2020

Outdoor dining in NYC will be extended through October

By Dana Schulz

Since NYC entered phase 2 of reopening on June 22, more than 8,600 restaurants have begun participating in the Open Restaurants program, which allows restaurants to set up seating on sidewalks, curb cuts, in adjacent parking spots, and on certain designated open streets. Indoor dining in the city, however, has been postponed indefinitely. So to keep outdoor dining expanding and thriving, Mayor de Blasio announced today that he's extending the program through October 31.
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Crown Heights residents rally against proposed 182-unit complex at site of 19th-century senior home

Southern facade; Photo credit: Simia Rassouli

July 15, 2020

Crown Heights residents rally against proposed 182-unit complex at site of 19th-century senior home

By Devin Gannon

The fight continues over a proposed new development on a large stretch of land in the Crown Heights North Historic District II with an online petition opposing the project collecting over 4,000 signatures. A neighborhood group, Friends of 920 Park, hopes to stop the construction of a seven-story, 182-unit apartment building on land at 959 Sterling Place (920 Park Place), originally the site of the Methodist Home for the Aged and currently the home of the Hebron French Speaking Seventh Day Adventist School. The renewed fight against the project comes ahead of a Brooklyn Community Board 8 and Landmarks Preservation Commission public hearing on the plan later this summer.
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Real Estate Trends

How to apply for New York’s new COVID-19 rent relief program

Via CityRealty

July 14, 2020

How to apply for New York’s new COVID-19 rent relief program

By Devin Gannon

Update 7/31/20: The deadline to apply for the rent relief program has been extended by one week to Thursday, August 6. A new rent relief program launched Tuesday that provides subsidies to eligible low-income New Yorkers financially affected by the coronavirus pandemic. First signed into law by Gov. Andrew Cuomo last month, the assistance program helps low-income households experiencing increased rent burden due to a loss of income because of COVID-19 by sending a one-time subsidy directly to landlords. The payment covers the difference between a household's rent burden on March 1 and the increase in rent burden for up to four months. Applicants must meet several eligibility requirements to qualify for the program.
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INTERVIEW: Architect John Cetra on the Upper West Side’s Dahlia and the changing concept of home

Images courtesy of CetraRuddy

July 13, 2020

INTERVIEW: Architect John Cetra on the Upper West Side’s Dahlia and the changing concept of home

By Michelle Cohen

Designed by CetraRuddy and RKTB Architects, Dahlia at 212 West 95th Street celebrates the Upper West Side's classic residential blocks of pre-war architecture while adding innovative design elements. The condo’s 38 homes and common areas are designed to be more spacious than the average Manhattan apartment, and perks unheard of in New York City include a huge 5,100-square-foot private elevated park, a fitness center with a yoga room, and a private parking garage. Plus, each apartment is situated on a corner of the building, so there’s no shortage of views and natural light. 6sqft recently offered a peek at the 20-story building's interiors, and we've now chatted with architect John Cetra about this new addition to the Upper West Side, the neighborhood, and how apartment building design must be sensitive to changing times and the idea of home in the city.
An interview with John Cetra of CetraRuddy, this way

July 9, 2020

The 14 best apartments near the High Line

By Emily Nonko

In the decade since the High Line opened, the surrounding area of West Chelsea has exploded into one of Manhattan’s most desirable areas for developers building luxury real estate. (It didn't hurt that the opening of the now-famous elevated park coincided with a neighborhood rezoning.) These days, any walk along the park reveals a variety of development in different stages of construction right alongside buildings that have welcomed new, typically wealthy residents over the past several years. 6sqft has rounded up the 14 defining buildings now open around the High Line. There are the early trailblazers, like the energy-efficient condo HL23, as well as the starchitect standouts, like Zaha Hadid's 520 West 28th, and of course, the new kids on the block, including Bjarke Ingels' twisting towers, The XI, and Thomas Heatherwick's bubbled Lantern House condo.
See the full list here

Image by Hayes Davidson

July 8, 2020

At a former school on the Upper West Side, this $22.5M penthouse has a two-level terrace

By Dana Schulz

Not only is this apartment three floors, but it has a two-floor terrace, too. It's the Terrace Penthouse at 555 West End Avenue, a former Beaux-Arts school building transformed into a 13-unit boutique condo. The Upper West Side home is currently listed for $22.5 million and has four bedrooms, a two-story living area connected by a floating staircase, and a full-floor roof terrace that's accessed via an outdoor staircase leading from the wraparound terrace.
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$2B project in Astoria calls for massive mixed-use district with 2,700 housing units

Rendering the civic park at Innovation QNS courtesy of ODA

July 2, 2020

$2B project in Astoria calls for massive mixed-use district with 2,700 housing units

By Devin Gannon

A proposal to build a mixed-use district in Queens that would encompass five blocks and create thousands of new housing units was unveiled this week. Dubbed "Innovation QNS," the $2 billion project would bring 2,700 units of mixed-income housing, 250,000 square feet of creative office space, 200,000 square feet of retail, a new school, two acres of public open space, and new neighborhood amenities to Astoria. With ODA Architecture as the architect of the master plan, the mixed-use district is a joint private venture led by Silverstein Properties, Kaufman Astoria Studios, BedRock Real Estate Partners.
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Real Estate Trends

June 23, 2020

See inside the enviable amenity spaces of Dahlia, a new condo on the Upper West Side

By Devin Gannon

As the construction of new condo tower Dahlia wraps up on the Upper West Side, we're taking a look at the 20-story building's impressive amenity package. Designed by CetraRuddy and RKTB Architects, the building at 212 West 95th Street manages to mix the pre-war aesthetic of its neighbors with modern design elements. In addition to its sleek look, Dahlia also offers perks unheard of in New York City, including a huge 5,100-square-foot private elevated park with recreation space for both adults and kids and private parking garage.
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Target to open new stores on the Upper East Side, Upper West Side

Rendering of the Columbus Circle store planned courtesy of Target

June 22, 2020

Target to open new stores on the Upper East Side, Upper West Side

By Devin Gannon

Manhattan will get two new Target stores, adding to the retail giant's growing New York City footprint. As first reported by PincusCo, the company has signed a 20-year lease for a store at Vornado Realty Trust's 150 East 86th Street on the Upper East Side and a 15-year lease for space at 795 Columbus Avenue on the Upper West Side, overseen by the Chetrit Group. The two new locations, totaling nearly 80,000 square feet, will be small-format stores, which offer easy pick-up service and grab-and-go products.
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Real Estate Trends

INTERVIEW: Architect Morris Adjmi on how Nomad’s 30 East 31st Street helps define a changing city

Renderings by The Neighbourhood, courtesy of Morris Adjmi Architects

June 16, 2020

INTERVIEW: Architect Morris Adjmi on how Nomad’s 30 East 31st Street helps define a changing city

By Michelle Cohen

Among the recent architectural contributions to New York City designed by Morris Adjmi Architects, a tall, slender tower at 30 East 31st Street from developers EDG and The Pinnacle Group is quietly turning heads in the northern part of the Manhattan neighborhood known as Nomad. The 479-foot-high, 42-unit condominium tower, officially named 30E31, is now ready for occupancy. 6sqft caught up with architect and designer Morris Adjmi to get the creator's viewpoint on the notable new Manhattan residence, from his thoughts on the relatively new neighborhood to his contextual exterior design and custom interiors.
The full interview with Morris Adjmi, this way

Tour the striking residences of Morris Adjmi’s condo tower in Nomad

Renderings by The Neighbourhood, courtesy of Morris Adjmi Architects

June 11, 2020

Tour the striking residences of Morris Adjmi’s condo tower in Nomad

By Devin Gannon

As the architecturally stunning residential tower at 30 East 31st Street nears completion, we're getting a look inside the 479-foot-tall skyscraper. Designed by Morris Adjmi Architects, the high-rise mixes Neo-Gothic and Art Deco styles present in the historic Nomad neighborhood to create one of the most distinctive new buildings in the city. The sleek design continues to the interiors of 30 E 31, where its 42 apartments boast custom woodwork and floor-to-ceiling windows.
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Photo by Daniel Lee on Unsplash

June 11, 2020

Ahead of city’s phase two of reopening, REBNY releases safety guidelines for real estate brokers

By Devin Gannon

As New York City looks ahead to phase two of reopening, the city's leading real estate trade group released this week safety recommendations for brokers to follow when conducting deals. Following public health protocols, the six guidelines created by the Real Estate Board of New York encourage face masks and social distancing, virtual preliminary meetings, appointment-only showings, and electronic contracts. Plus, REBNY created a COVID-19 screening questionnaire for all parties attending in-person showings to sign.
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With 8,000 units, Jersey City project will be the Tri-State’s largest mixed-income housing development

Rendering of Cove Pointe, community green. Rendering by Minno and Wasko

June 10, 2020

With 8,000 units, Jersey City project will be the Tri-State’s largest mixed-income housing development

By Dana Schulz

After receiving approval from the city, last week, developer BRP Companies revealed renderings for their Bayfront Redevelopment Project in Jersey City along the Hackensack River. Located on a former brownfield site, the 100-acre project will be built in phases, eventually resulting in 8,000 units of mixed-income housing (35 percent of which will be affordable), said to be the largest such project in the region. This fall, construction will kick off on the 16-acre first phase, known as Cove Pointe, which will bring 1,092 units of housing, with 382 set aside as affordable and workforce housing.
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One Manhattan Square offers COVID-19 discount up to 20 percent on luxury units

Courtesy of Extell Marketing Group/One Manhattan Square

June 9, 2020

One Manhattan Square offers COVID-19 discount up to 20 percent on luxury units

By Devin Gannon

Not only is One Manhattan Square one of the last residential buildings in New York City able to entice buyers with a 421-a tax abatement, but the Lower East Side high-rise is also currently offering major discounts on its luxury apartments. In response to the coronavirus pandemic, Extell Development announced last month discounts of up to 20 percent on all remaining units at the 800-foot-tall condominium.
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