Real Estate Trends

Governor Andrew M. Cuomo announced on Tuesday the opening of the first phase of New York's newest park–and the largest state park in New York City. Brooklyn's 407-acre Shirley Chisholm State Park on Jamaica Bay offers hiking, biking, fishing and picnicking under the watch of a colorful mural honoring Chisholm by Brooklyn muralist Danielle Mastrion. Under a second $20 million phase currently being designed and expected to be completed in 2021, the park will include a grand entrance on Fountain Avenue, lawn patios, a patio overlooking Hendrix Creek and pop-up environmental education facilities. A native of the borough, Chisholm, a former representative of the 12th Congressional district in New York for seven terms, was the first African American woman elected to Congress in 1968; she ran for President in 1972 as the first African American woman to do so.
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Berlin is imposing a five-year rent freeze—Could it work in New York City?

Photo via Pixabay

July 1, 2019

Berlin is imposing a five-year rent freeze—Could it work in New York City?

By Cait Etherington

In June, New York State rolled out a slate of proposals to protect renters. Among other changes, the new legislation closes several loopholes that have permitted owners to legally spike rents following renovations—a tactic that has been successfully used to deregulate more than 150,000 units over the past two decades. In essence, under the new legislation, owners will no longer be able to deregulate rent-regulated apartments at all. While the new legislation is certainly good news for many renters, for the tens of thousands of New Yorkers who now already live in unregulated apartments, the current legislation doesn’t fix their current woes. But could a five-year rent freeze help? It may sound impossible, but this is precisely what Berlin—once an oasis of inexpensive rents—has just approved as a way to put the brakes on rising rental prices.
Could this work in NYC?

Real Estate Trends

$1.3M Cobble Hill condo adds contemporary details to traditional loft bones

Listing images by Matt Vacca, courtesy of Compass

June 27, 2019

$1.3M Cobble Hill condo adds contemporary details to traditional loft bones

Located in a former warehouse at 29 Tiffany Place that was converted to condos in 1999, this loft-like Cobble Hill pad underwent a recent renovation which, among other upgrades, transformed it from a three bedroom to a two bedroom with a bigger living room. The unit last sold in 2015 for $1.155 million, and has just hit the market asking $1.295 million.
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June 27, 2019

Cuomo unveils new looks for next phase of $8B LaGuardia Airport overhaul

Governor Andrew M. Cuomo announced today that the first of four concourses at LaGuardia Airport's new state-of-the-art Delta terminal is on track to open this fall. The concourse is a major milestone in the $8 billion plan to construct an entirely new LaGuardia Airport. The new 105,000-square-foot concourse will feature views of Citi Field and Flushing Bay through floor-to-ceiling windows, gates that can accommodate a wide range of aircraft and dining options from the city's top eateries. New renderings released with the announcement show the concourse and the arrivals/departures facility scheduled to open in 2021.
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Rendering of 200 Amsterdam Avenue via SJP Properties/ Elkus Manfredi

June 26, 2019

Nearing pinnacle, disputed 668-foot Upper West Side tower gets city board approval

In a race to the top of sorts, developers of the 668-foot residential tower rising at 200 Amsterdam Avenue got the green light to keep climbing, Curbed reports. On Tuesday the city's Board of Standards and Appeals upheld its initial approval for the tower, which has been embroiled in a heated zoning lot dispute. The board approved the project last year, but in March the state Supreme Court overruled the city’s decision, ordering the board to re-evaluate the permit for the project led by developers SJP Properties and Mitsui Fudosan, who have already proceeded with construction at the 69th Street site. The tower is expected to top out this summer.
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New renderings reveal amenities at Eliot Spitzer’s Williamsburg-waterfront development

Renderings courtesy of Citi Habitats New Developments

June 25, 2019

New renderings reveal amenities at Eliot Spitzer’s Williamsburg-waterfront development

New renderings of 420 Kent Avenue, the Williamsburg waterfront development located just south of the Williamsburg Bridge, offer a first peek at the building’s amenity package as the project enters its final phase of construction. Set to open for leasing in August, residents will have access to more than 25,000 square feet of indoor amenities, in addition to 80,000 square feet of outdoor space—including an outdoor pool and a 400-foot-long waterfront esplanade—and 20,000 square feet of retail space. The development’s public esplanade will link the entire Brooklyn waterfront and is set to officially open on July 4th—just in time to give Williamsburg residents a front-row seat to the Macy’s Fireworks Show on the East River.
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Jennifer Lopez and A-Rod find a buyer for their short-lived 432 Park pad

432 via DBOX; Alex Rodriguez via Wiki Commons; Jennifer Lopez via Wiki Commons

June 19, 2019

Jennifer Lopez and A-Rod find a buyer for their short-lived 432 Park pad

By Annie Doge

Newly engaged couple Jennifer Lopez and Alex Rodriguez have found a buyer for their sky-high Midtown apartment, the New York Post reported Tuesday. The duo listed their pad at 432 Park Avenue--the tallest residential building in the Western Hemisphere--for $17.5 million in January, less than a year after they bought the three-bedroom apartment. It remains unclear who the buyer is and how much they ultimately paid.
Details here

Dumbo celebration marks the 10th anniversary of the iconic Archway’s public life

The Brooklyn Flea under the Archway. Photo: Noemie Trusty, courtesy of Dumbo Improvement District.

June 18, 2019

Dumbo celebration marks the 10th anniversary of the iconic Archway’s public life

On Friday, June 21, Brooklyn's Dumbo neighborhood will be celebrating the 10th anniversary of the Archway under the Manhattan Bridge–the "UMBO" of Dumbo (Down Under the Manhattan Bridge Overpass), so to speak. The Archway–one of the only covered outdoor spaces in New York City—has for the past decade served as the neighborhood's town square, giving hundreds of thousands of residents and visitors a prime public place for large-scale events, community gatherings, film shoots, art exhibitions and local start-up events. In celebration, expect food, music and visual arts exhibitions befitting a neighborhood with Dumbo's unique creative history.
Ahead, a transformation

VIDEO: See the city’s highest rooftop pool get lifted 680 feet atop supertall Brooklyn Point

Rendering courtesy of Williams New York/Extell

June 14, 2019

VIDEO: See the city’s highest rooftop pool get lifted 680 feet atop supertall Brooklyn Point

The tallest residential building in Brooklyn was crowned this week with the highest infinity pool in the Western Hemisphere. A video released by Extell shows a 27-foot-long pool being hoisted 680 feet in the air, taking its place atop Brooklyn Point. The 68-story tower, designed by Kohn Pedersen Fox, topped out in April and sits as part of the Downtown Brooklyn development City Point.
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Renderings reveal Madison Place, new 800-foot condo tower in Nomad

The anticipated 805-foot condo tower currently rising in Nomad at 15 East 30th Street—dubbed Madison House—has just unveiled a teaser website and new renderings to give us a peek of the project, inside and out. The 62-story building was designed by Handel Architects, and Gachot Studios will be helming the interior design. Having already topped out, sales are expected to launch in September, including a range of one-, two-, three- and four-bedroom residences and an expansive duplex penthouse with a private terrace and elevator entry.
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Waldorf Astoria condos will launch sales in the fall

Photo by James and Karla Murray exclusively for 6sqft.

June 11, 2019

Waldorf Astoria condos will launch sales in the fall

The redeveloped Waldorf Astoria residences have a new teaser website, and according to an announcement by the historic hotel's owner, Beijing-based Anbang Insurance Group Co., the new condos will be called The Towers of the Waldorf Astoria. The Wall Street Journal reports that sales of 375 private residences at the storied hotel will begin in the fall.
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Jeff Bezos scoops up three Flatiron apartments for a record-setting $80M

Rendering of 212 Fifth Avenue by Visualhouse; Photo of Jeff Bezos via Wiki Commons

June 4, 2019

Jeff Bezos scoops up three Flatiron apartments for a record-setting $80M

The Wall Street Journal reported today that Amazon Chief Executive Jeff Bezos is closing on three apartments at 212 Fifth Avenue, next to Madison Square Park. Bezos is scooping up a penthouse and two units that are right under it for approximately $80 million, though the precise numbers haven’t been made public yet. Combined, the apartments add up to over 17,000 square feet. The deal is reportedly the largest to ever close in New York south of 42nd Street, and the second largest deal of the year, second to Ken Griffin’s now-infamous $240 million penthouse at 220 Central Park South.
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Jeanne Gang’s first residential tower in NYC tops out in Downtown Brooklyn

Images courtesy of Studio Gang

June 4, 2019

Jeanne Gang’s first residential tower in NYC tops out in Downtown Brooklyn

The first residential tower in New York City designed by Jeanne Gang's Studio Gang topped out this week in Downtown Brooklyn. Reaching 620 feet tall, 11 Hoyt Street will offer 481 condos, an elevated park, and 55,000 square feet of amenities. Sales launched at the Tishman Speyer-developed building last September, with prices ranging from $690,000 for studios to about $3.5 million for a four-bedroom. Hill West Architects served as the architect of record for the project.
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Parker Posey picks up a cozy Chelsea co-op for $1.5M

Listing photo courtesy of Douglas Elliman; Photo of Parker Posey via Wiki Commons

May 31, 2019

Parker Posey picks up a cozy Chelsea co-op for $1.5M

By Annie Doge

Parker Posey certainly has good taste in real estate. She first landed on our apartment-porn radar for her chic East Village apartment, which she bought back in 2008. (The home is now owned by actor Alexander Skarsgärd.) She then dropped $1.35 million on a slightly more classic co-op in Greenwich Village. After personally modeling in the listing photos, she unloaded this apartment in 2016. We're not sure where she's been for the past three years, but as of this week, she is a proud new Chelsea resident. According to the Post, Posey dropped $1.5 million on this super-cute and character-filled duplex at 365 West 19th Street. Not only does it have charming details like a wood-burning brick fireplace and huge half-moon window, but there's a private roof deck.
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Photo by Laurian Ghinitoiu.

May 30, 2019

See new views of OMA’s first NYC building, with ‘prismatic’ details

The new L-shaped residential building at 121 East 22nd Street represents Rem Koolhaas's architecture firm OMA's first ground-up Manhattan project; developers Toll Brothers City Living have released new photos of the eye-catching structure on the border between the Gramercy and Madison Square Park neighborhoods, highlighting its unique design. The new condominium residence is comprised of two blocks that straddle an existing tower, the 11-story School of the Future, constructed in 1915. The building's north tower has two interlocking planes that meet to form a distinct, three-dimensional corner. The 13-story south tower features an "undulating grid of punched windows" overlooking 22nd Street.
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Google’s Chelsea takeover continues as it picks up another property in the neighborhood

The building at 450 West 15th Street is connected to Chelsea Market via a bridge; photo via Wikimedia

May 23, 2019

Google’s Chelsea takeover continues as it picks up another property in the neighborhood

Google on Wednesday picked up a 325,000-square-foot building in Chelsea, adding to its ever-growing footprint in the Manhattan neighborhood. According to the Financial Times, the company bought the building at 450 West 15th Street from Jamestown Properties for $600 million. In addition to its headquarters at 111 Eighth Avenue, Google owns the apartment buildings across the street and the Chelsea Market building, which it bought last year for $2.5 billion. And the company will serve as the primary tenant at Pier 57, a mixed-use development on the Hudson River.
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Real Estate Trends

Raising chickens in NYC: Laws, tips, and everything else you need to know

Image by furtwangl / Flickr

May 22, 2019

Raising chickens in NYC: Laws, tips, and everything else you need to know

By Cait Etherington

6sqft’s ongoing series Apartment Living 101 is aimed at helping New Yorkers navigate the challenges of creating a happy home in the big city. This week, we cover everything you need to consider when raising chickens in the city. In a city where simply finding a balcony large enough for a pot of basil can be a challenge, one may be surprised to discover that chicken coops can be found across all five boroughs. Chickens were once primarily kept by older city residents, including many who come from places in the world where a backyard supply of fresh eggs is taken for granted. More recently, everyone from Park Slope housewives to Bushwick hipsters appears to be embracing the backyard chicken craze.
More on Raising City Chickens

Williamsburg’s tallest tower tops out at Domino Sugar Factory development

Photo by Max Touhey

May 21, 2019

Williamsburg’s tallest tower tops out at Domino Sugar Factory development

Williamsburg officially has a new tallest tower. One South First, formerly 260 Kent Avenue, topped out this week at the Domino Sugar Factory redevelopment along the waterfront. Designed by COOKFOX Architects, the 435-foot-tall tower features two interlocking buildings with white precast concrete facades inspired by the molecular pattern and forms of sugar crystals, a reference to the former factory site.
Domino details here

May 21, 2019

Rockefeller Center developer reveals new Art Deco views of its first residential tower in Nomad

By Dana Schulz

In March, Rockefeller Group, the famous developers behind their eponymous Rockefeller Center, announced that they'd be building their first residential project in their 90-year history. Dubbed Rose Hill for the historic area that once occupied today's Nomad, the 600-foot tower at 30 East 29th Street is a uniquely modern interpretation of the Art Deco style. Now we have an even better look at this striking bronze facade, as well as the expansive amenity spaces and luxury condo interiors. The new views coincide with sales launching; prices will start at $1.195 million for a studio.
More details and renderings this way

May 20, 2019

Audible opens new offices at a restored historic cathedral in Newark

Audible, the audiobook company owned by Amazon, opened new offices on Friday in a restored historic cathedral in Newark. The company, which has been located in New Jersey's largest city since 2007, restored an 80,000-square-foot 1913 church and modernized it with open workspace, a four-lane bowling alley, and cafes. Dubbed the Innovation Cathedral, the new offices on Washington Street will hold 400 employees.
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Office terrace at 145 Delancey Street; renderings courtesy of Moso Studio

May 14, 2019

Essex Crossing reveals new renderings of trendy office space

By Dana Schulz

If you're looking to attract top talent these days, you better have an office outfit with the amenities to lure a millennial. So it comes as no surprise that Essex Crossing developer Taconic Investment Partners has begun to market its 350,000 square feet of office space just days after the new Essex Street Market opened and a few weeks after a Regal theater opened. The office space is split evenly between two mixed-use buildings at the complex, 145 and 155 Delancey Street. According to a press release, "A worker at Essex Crossing will have direct access to one of the largest marketplaces in the world, indoor gardens, a 14-screen movie theater and four subway lines – all within one complex."
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Real Estate Trends

Renderings courtesy of Binyan Studios

May 13, 2019

FXCollaborative’s skinny FiDi school-condo tower reveals new looks and launches sales