Real Estate Trends

Update 1/29/19: The penthouse officially closed on January 23, 2019, for $239,958,219, more than was originally reported. Billionaire Ken Griffin has closed on a penthouse at 220 Central Park South for $238 million, setting the record for the most expensive home ever sold in the United States, as the Wall Street Journal first reported. Griffin, who founded Citadel, first signed the contract to buy a 24,000-square-foot unit at the under-construction tower in 2015. The hedge fund mogul reportedly picked up the pricey digs as "a place to stay when he's in town," since his company is looking to expand its footprint in New York City.
More on record-breaking deal

Real Estate Trends

Hudson Yards will ‘officially’ open on March 15

Rendering courtesy of Related/Oxford.

January 23, 2019

Hudson Yards will ‘officially’ open on March 15

Though it seems hardly a week can go by without a flurry of news from Manhattan's newest instant neighborhood, Hudson Yards, the west side mega-project–the largest private development in the nation's history–developed by Related Companies and Oxford Propertied Group now has announced that Friday, March 15th will be its official opening date. In addition to a grand opening celebration, the Public Square and Gardens and the neighborhood's centerpiece, Thomas Heatherwick's "Vessel," are set to open on that date; more importantly, The Shops and Restaurants at Hudson Yards will be officially open.
Off to quite a start

Real Estate Trends

January 22, 2019

Legendary designer Halston’s former UES house and famed party spot is off the market after four years

By Alexandra Alexa

After being on the market for four years, the iconic Halston House at 101 East 63rd Street finally sold to an anonymous buyer for an undisclosed amount last week. The modernist property, one of only three residences in Manhattan designed by famed architect and former Yale School of Architecture dean Paul Rudolph, is best known as the home of designer Halston in the 1970s where he hosted lavish parties attended by the likes of Andy Warhol, Liza Minnelli, Truman Capote, and Jacqueline Onassis. It first hit the market in 2015 for $40 million when it was rumored that art dealer Jeffrey Deitch was interested in making a deal. One year later, the listing received a significant price chop to $28 million. According to a press release, the buyer was taken with the home's rich cultural history and is an admirer of Rudolph's architecture.
Get the details

Images (L to R): The Heritage, Level, Landing at Brooklyn Bridge Park and Arverne View

January 19, 2019

FREE RENT: This week’s roundup of NYC rental news

Images (L to R): The Heritage, Level, Landing at Brooklyn Bridge Park and Arverne View 1247 Atlantic Avenue: Brooklyn Rental with Swimming Pool Launches Leasing from $1,875/Month [LINK] Arverne View: Beachfront Apartments in the Rockaways from $1,374/Month [LINK] The Pierrepont: Floor Plans and Interiors Revealed for March 1st Launch [LINK] LEVEL: Williamsburg Waterfront Rental Offers […]

Real Estate Trends

Rendering courtesy of Wordsearch

January 18, 2019

Can Extell make Central Park Tower the most expensive condo in U.S. history?

By Dana Schulz

"Some people wonder if Mr. Barnett will become a victim of the condo explosion he helped create," wrote the Wall Street Journal today in a rare expose of Extell's Gary Barnett, referring to the success he had with One57, considered the catalyst for the supertall, ultra-luxury condo boom, and the more challenging climate he's facing with the Central Park Tower. The latter, which will be the world's tallest residential building at 1,550 feet, launched sales in October, but in a soft luxury market, it's not a sure bet that the mega-developer will be able to achieve his projected $4 billion sellout and the title of the nation's most expensive condominium ever. In a likely noncoincidental move timed with the Journal story, Extell today launched the tower's new website (h/t Curbed), and it gives us mere mortals some of the first views inside the billionaire bunker.
See inside and hear from Barnett himself

January 18, 2019

After more than two years, Hudson Heights’ cliffside ‘Pumpkin House’ sells for $2M

By Alexandra Alexa

Back in 2016, 6sqft reported that the iconic “Pumpkin House,” a 1920s townhouse cantilevered from a cliff in Hudson Heights, had hit the market for the first time since 2011 for $5.25 million. Still without a buyer the following summer, the 17-foot-wide, six-bedroom brick home at 16 Chittenden Avenue received a price chop to $4.25 million. The unusual home—standing 250 feet above the Henry Hudson Parkway—finally found its new owner this Thursday, when it sold for a deeply discounted $2 million, as reported by the New York Post.
Get the details

City pulls permits for Extell’s controversial Upper West Side tower

Rendering courtesy of Binyan Studios/Snøhetta

January 17, 2019

City pulls permits for Extell’s controversial Upper West Side tower

By Alexandra Alexa

Less than two months after rejecting a challenge against the tallest tower planned for the Upper West Side, the Department of Buildings has decided to pull permits for Extell Development’s 775-foot tower at 50 West 66th Street, as NY1 first reported. In December, opponents argued that the Snøhetta-designed structure was misusing structural voids—where a building’s mechanical equipment is stored—to add height without increasing square footage. They said the 160-foot mechanical spaces were designed not out of necessity, but presumably to boost the overall height of the apartments—and their price tags. Now, the DOB has made a surprise reversal, ruling that these spaces do not meet the current standards of the New York City Zoning Resolution.
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World Trade Center developer Larry Silverstein sells Upper East Side apartment at a loss

He may have hit it big at the World Trade Center redevelopment, but super-developer Larry Silverstein lost nearly $5 million on the sale of his long-time Park Avenue apartment. He first put the residence at 500 Park Avenue on the market for $13.9 million a little over a year ago, not long after he and his wife Klara bought a $34 million penthouse at Silverstein Properties' own development 30 Park Place, which overlooks the WTC site. The Silversteins have now sold the Upper East Side home, according to the Post, but for only $9.3 million.
Have a look around

Amazon could be the Chrysler Building’s new tenant

Via Creative Commons

January 14, 2019

Amazon could be the Chrysler Building’s new tenant

Amazon is close to reaching a deal to lease 10,000 square feet at the Chrysler Building, the New York Post reported on Sunday. News of the impending lease comes less than a week after it was reported that the Art Deco landmark is up for sale. Amazon announced in November plans to open a massive office complex in Long Island City to serve as their "HQ2." The company will start moving to the neighborhood this year, temporarily leasing space at One Court Square, a 50-story building with incredible views of the Manhattan skyline.
More here

Real Estate Trends

Images (L to R): 321 Wythe Avenue, EVE, Summit, and 535 Carlton Avenue

January 12, 2019

FREE RENT: This week’s roundup of NYC rental news

321 Wythe in Williamsburg Debuts Luxury Rentals with All-Star Amenities + Skyline Views [LINK] The Hamilton, 1735 York Avenue: Yorkville Rental Leasing 1- to 3-Bed Rentals with 1 Month Free [LINK] OTTO, 211 McGuinness Boulevard: Upscale Greenpoint Rentals from $2,317/Month [LINK] Summit, 222 East 44th Street: Ultra Luxury Midtown East Rental Launches Leasing [LINK] 535 […]

Real Estate Trends

Via Creative Commons

January 9, 2019

The Chrysler Building is for sale

New York City's iconic Chrysler Building is on the market. The owners of the 1930 Art Deco landmark, Tishman Speyer Properties and the Abu Dhabi Investment Council, have hired real estate firm CBRE Group to sell the property, the Wall Street Journal reported Wednesday. The Abu Dhabi government purchased its majority stake in the Chrysler for $800 million in 2008, but real estate experts told the WSJ it would be difficult to recover.
Details here

Real Estate Trends

Emily Blunt and John Krasinski drop $11M on a full-floor spread in Brooklyn’s new celeb hotspot

The building’s model residence (not the specific units mentioned here) by Robert Granoff for DDG

January 8, 2019

Emily Blunt and John Krasinski drop $11M on a full-floor spread in Brooklyn’s new celeb hotspot

Just weeks after news broke that Matt Damon set a borough record when he paid $16.7 million for a penthouse in Brooklyn Heights' new condo The Standish, the Wall Street Journal now reports that Emily Blunt and John Krasinski are also moving into the building. The couple dropped $11 million on two adjacent units, giving them the entire eighth floor. Although their transaction doesn't set any records, it's still considered one of the largest ever in Brooklyn. Previously, Blunt and Krasinski owned a gorgeous, historic Park Slope townhouse, but they sold it for $6.5 million last year because they weren't able to spend enough time there.
Get the scoop

Sales launch at Brooklyn Heights library-replacing condo tower, from $1.1M

Renderings via Noe and Associates/ The Boundary

January 8, 2019

Sales launch at Brooklyn Heights library-replacing condo tower, from $1.1M

Nearly four years after the Brooklyn Public Library announced the sale of its Brooklyn Heights branch, sales have started at the 38-story condo building that replaced it. The Hudson Companies, the developer who bought the site in 2015 for $52 million, launched on Tuesday sales for 133 one- to five-bedroom residences at One Clinton, ranging in price from $1.088 million to roughly $5.26 million for a four bedroom. Five-bedroom and penthouse pricing will be released in the coming months.
See inside

Is SoHY the next hot neighborhood? New ‘South of Hudson Yards’ condo thinks so

Image courtesy of New Development Group.

January 7, 2019

Is SoHY the next hot neighborhood? New ‘South of Hudson Yards’ condo thinks so

Our first reaction at reading New Development Group’s (Ryant Serhant and team) introduction of the newly-minted SoHY condo at 550 West 29th Street as “Manhattan’s newest neighborhood and building" was to think the Nest Seekers-agent-to-the-stars must be SoHY if he thinks anyone will fall for another silly neighborhood acronym (Hello, NoLo!). But in this case, the multi-hyphenate wunderkind might actually be on to something. When you think about it, SoHY–for South of Hudson Yards–is definitely better than: "um, you know that area all the way over by 11th Avenue where all those new buildings are...that aren’t Hudson Yards ones..."
More SoHY jinks, this way

Images (L to R): 525 West 52nd Street, The Essex, 505 Union Avenue and 19 Dutch Street

January 5, 2019

FREE RENT: This week’s roundup of NYC rental news

By Ondel Hylton

Images (L to R): 525 West 52nd Street, The Essex, 505 Union Avenue and 19 Dutch Street The Essex: Rent at the tallest building in Essex Crossing with 2 months free [LINK] Hunters Landing: New Long Island City rentals with 3 months free [LINK] 525 West 52nd Street: Luxury Hells Kitchen rental has amenities for […]

Real Estate Trends

January 4, 2019

$130M penthouse at 520 Park Avenue is now two separate units

By Dana Schulz

The quest to outdo One57's record-setting $100.5 million penthouse doesn't seem to be working. The two contenders, 220 Central Park South and 520 Park Avenue--both Robert A.M. Stern-designed buildings--announced their $250 and $130 million penthouses in 2016 and 2014 respectively, but there's been no movement since. The latter building seems to have taken the hint, though, as The Real Deal reports that the 12,398-square-foot triplex has been chopped up into two "smaller" units--a $40 million full-floor unit and an $80-$100 million duplex.
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Rental tower at Essex Crossing’s new foodie mecca launches leasing from $3,750/month

Renderings by We Are Visuals/QuallsBenson via Delancey Street Association.

January 3, 2019

Rental tower at Essex Crossing’s new foodie mecca launches leasing from $3,750/month

Leasing has officially launched at The Essex at 125 Delancey Street, the newest rental residence at the Lower East Side's Essex Crossing. Delancey Street Associates (DSA), the project's developers, announced the official launch of the building's 98 units today along with new renderings of interiors and amenity spaces within the tallest tower at the nine-site development. The 26-story Essex, designed by Handel Architects, also launched its website, which shows even more detail on the available units, which range from studios to three-bedrooms, starting at $3,750.
See more, this way

New renderings released of Long Island City’s Skyline Tower, Queens’ soon-to-be-tallest

Rendering via Binyan Studios

January 2, 2019

New renderings released of Long Island City’s Skyline Tower, Queens’ soon-to-be-tallest

The Skyline Tower, a 67-story condo building under construction in Long Island City, ended the year on a very high note. In addition to being named 6sqft's 2018 Building of the Year, the Hill West Architects-designed, 778-foot-tall tower became the first in Queens to pass $1 billion in total sell out. Plus, the property, which developer United Construction & Development Group first filed plans for in 2016, sits across the street from One Court Square, where Amazon is leasing one million square feet of office space before the company moves to its new HQ2 complex along the waterfront. On Wednesday, new renderings of Skyline Tower were released, showing off the interiors, views, and new subway entrance at the future tallest tower in Queens.
See the renderings

2018 Manhattan condo sales show volume drop and price cooldown from last year’s soaring heights

Rendering of 200 East 59th Street via Studio amd for Macklowe Properties

December 31, 2018

2018 Manhattan condo sales show volume drop and price cooldown from last year’s soaring heights

Rendering of 200 East 59th Street via Studio amd for Macklowe Properties CityRealty's new 2018 year-end market report reveals trends in Manhattan real estate including a notable drop in transaction volume and a decline in condo sales prices after 2017's roaring gains. Co-ops showed marginal gains in 2018. The New York Times refers to the report and quotes Jonathan J. Miller of Manhattan's Miller Samuel appraisal firm: “Sales are not low–they are just not unusually high. It’s like we came off the autobahn: It feels very slow relative to the last three to four years, but historically it’s not.” See a few highlights from the report, below.
More from the report

Real Estate Trends

Matt Damon officially buys the priciest pad in Brooklyn, a $16.7M penthouse

The building via DDG; Matt Damon via Wiki Commons

December 28, 2018

Matt Damon officially buys the priciest pad in Brooklyn, a $16.7M penthouse

Actor Matt Damon has officially purchased the most expensive home in Brooklyn: a $16.7 million penthouse at The Standish, the New York Post reported on Thursday. Last September, 6sqft learned Damon had gone into contract at the Brooklyn Heights building, located at 171 Columbia Heights. At that time, it was listed for just over $16.6 million. With the deal officially inked, the A-lister takes the title of the priciest property in BK from Jennifer Connelly, who bought a $15.5 million townhouse in Brooklyn Heights this year, and photographer Jay Maisel, who owns a $15.5 million home in Cobble Hill.
Details here!

December 27, 2018

Taylor Swift’s former carriage house rental in the West Village is under contract

Taylor Swift's onetime West Village rental, a carriage house at 23 Cornelia Street, is in contract to sell, the New York Post reported on Wednesday. The property, which measures roughly 5,500 square feet, was last listed for $14.9 million, a dramatic drop in price from the $24.5 million it was listed for in April 2017. As 6sqft previously learned, the pop star rented the pad in 2016 for $40,000 per month while her Tribeca penthouse was under renovation.
See inside

December 24, 2018

After four price cuts, Justin Timberlake sells Soho penthouse for $6.35M