Real Estate Trends

Queens’ Skyline Tower has launched its first 20 listings, providing a glimpse of what we can expect when the official sales gallery opens up later this spring (h/t Curbed). In addition to taking the title of 6sqft’s 2018 Building of the Year, the 67-story building caused a stir last year for its notable height—it will be the tallest in the borough—and proximity to Amazon’s planned HQ in Long Island City, leading to a record-breaking $1 billion sellout. When complete, the Hill West Architects-designed, 778-foot-tall tower will house 802 condos. The 20 live listings include studio- to three-bedroom units, ranging in price from $660,400 for a studio to $2,325,610 for a three-bedroom with outdoor space.
More info

May 2, 2019

New photos of ODA’s Bushwick rental highlight its sloping, sunset-hued facade

While architecture firm ODA's sunset-hued rental in Bushwick topped out almost two years ago, recently released photos of the block-long building reveal a new level of uniqueness. Dubbed the Rheingold, part of the development of the former brewery site, 10 Montieth Street boasts one of the most distinct facades in the city, with a sloping rooftop, cascading terraces, and window frames in a pattern of yellow, orange, and red (h/t Dezeen). The seven-story building contains 500 studio, one-, and two-bedroom residences, which first hit the rental market last August.
See it here

Rockefeller Center office tower will be converted into Airbnb rentals

75 Rockefeller Plaza via Google Street View

April 29, 2019

Rockefeller Center office tower will be converted into Airbnb rentals

Ten floors of an office tower in Rockefeller Center will be converted into short-term rentals, the Wall Street Journal reported on Sunday. RXR Realty, which has leased the tower at 75 Rockefeller Plaza since 2012, has partnered with Airbnb to transform a portion of the 87-year-old building into roughly 200 units of high-end lodging. In a press release, RXR CEO Scott Rechler described the new venture as a "travel experience that immerses guests in a dynamic, thriving community in the heart of Rockefeller Center that's vastly different than anything else in the market today."
Get the scoop

With loan secured, Brooklyn’s tallest skyscraper is finally ready to rise

Rendering courtesy of SHoP Architects/JDS Development

April 24, 2019

With loan secured, Brooklyn’s tallest skyscraper is finally ready to rise

The on-again, off-again construction of a Brooklyn skyscraper got a major push forward Tuesday. The Wall Street Journal reported that 9 DeKalb Avenue's developer Michael Stern of JDS Development has acquired a more than $664 million loan package to fund the development of the skyscraper. While the plan was first approved by the Landmarks Preservation Commission three years ago, lack of financing and a change of developers stalled the project. Expected to reach 1,066 feet high upon completion, the SHoP Architects-designed tower will become the borough's tallest.
Get the details

Pacific Park construction accelerates with groundbreaking at tallest tower

Rendering courtesy of Greenland Forest City Partners

April 23, 2019

Pacific Park construction accelerates with groundbreaking at tallest tower

Long in the works, construction at the Pacific Park complex in Brooklyn is set to ramp up after Greenland Forest City Partners announced a partnership with the Brodsky Organization to develop 18 Sixth Avenue. Designed by Perkins Eastman, the building will exceed 500 feet and become the tallest in Pacific Park. As 6sqft previously reported, Brodsky was also tapped for another apartment building in the complex at 664 Pacific Street, which will also include public space and a school. Groundbreaking at both sites is set to take place within the next two weeks.
More info

April 22, 2019

Behold views and shoes for days at this $875K Clinton Hill condo

Located in a newly-minted boutique condominium building on a bustling Clinton Hill corner, this sun-filled one-bedroom home at 500 Waverly Avenue, asking $875,000, has both space and views to its credit. And if you're a shoe collector, you'll be inspired.
More, this way

Age-friendly NYC: The best neighborhoods for New Yorkers 65+

Photo via Flickr cc

April 22, 2019

Age-friendly NYC: The best neighborhoods for New Yorkers 65+

By Cait Etherington

More than 17 percent of New Yorkers are over the age of 60, and over the coming two decades, this number is expected to rise to well over 20 percent. To address the specific needs of older New Yorkers and to ensure the city is able to fully benefit from their presence, New York City has launched an Age-Friendly Neighborhoods Initiative. Modeled after similar initiatives in cities around the world, it is described as “an opportunity to build upon the rich experiences of older adults and leverage the strengths of local neighborhoods that make each New York City community unique.” This article explores what “age-friendly” neighborhoods look like and examines five NYC neighborhoods where at least 25 percent of residents are already 65 years of age or older, from the Upper East Side to Brighton Beach.
All the info ahead

Real Estate Trends

At 9 DeKalb, SHoP Architects reveal a rooftop pool wrapping around Dime Savings Bank’s dome

Rendering via SHoP Architects

April 22, 2019

At 9 DeKalb, SHoP Architects reveal a rooftop pool wrapping around Dime Savings Bank’s dome

A fresh rendering of 9 Dekalb Avenue first published in the New York Times last week revealed a new aspect of the project: the Dime Savings Bank's roof will be transformed into an outdoor lounge for residents, including a pool that will partly wrap around the ornate Guastavino dome. Inside, the Beaux-Arts interior will become a flagship store, with further details to be announced. The rising 1,066-foot-tower is being developed by JDS Development, with SHoP Architects leading the design, and is set to become the tallest tower in Brooklyn upon completion.
More info

To avoid rent burden in Manhattan and Brooklyn, you’d have to live in a 300 square foot space

Image via Flickr cc

April 12, 2019

To avoid rent burden in Manhattan and Brooklyn, you’d have to live in a 300 square foot space

Renting remains an increasingly popular choice in cities throughout the country, where on-the-go millennials with mobile jobs and lifestyles prefer to remain untethered to a specific location. But often, making rent doesn’t equate with staying on budget or having the amount of space you really need. A new study by RENTCafe looks into the issue of rent burden, asking how much space a typical income would get you if you limited your rent to no more than 30% of your income. Their findings show that in Manhattan, Brooklyn, and Boston spending 30% of your income on rent means you’d have to live in less than 300 square feet of space.
More info

Extell’s Upper West Side tower going forward despite city’s amendment on mechanical voids

Rendering courtesy of Binyan Studios/ Snøhetta Following a revised design and review by the FDNY, developer Extell has been granted permission to proceed with plans for the Snøhetta-designed tower at 50 West 66th Street, Gothamist reports. This comes a few months after the Department of Buildings threatened to pull the building’s permits over concerns that the project was misusing mechanical voids in order to boost the overall height of units in the building. The DOB approved Extell's revised plans last Thursday, allowing the project to go forward despite a 12-to-1 City Planning Commission vote yesterday to crack down on the mechanical void loophole.
More info

New renderings for Pritzker Prize winner Álvaro Siza’s first U.S. building in Hell’s Kitchen

Rendering via The Boundary

April 10, 2019

New renderings for Pritzker Prize winner Álvaro Siza’s first U.S. building in Hell’s Kitchen

New renderings of Pritzker Prize-winning architect Álvaro Siza's first United States building were revealed this week, stirring up interest before the Hell's Kitchen tower launches sales this fall. Currently under construction just off 11th Avenue, 611 West 56th Street will reach 37 stories and contain 80 condo units, ranging from one- to three-bedrooms, and penthouses. In addition to the fresh images of the limestone tower, developers Sumaida + Khurana and LENY also released a teaser website for the project.
See it here

Mixed feedback from LPC on proposed open-air pavilion at Fulton Ferry Landing

Rendering by Starling Architecture

April 9, 2019

Mixed feedback from LPC on proposed open-air pavilion at Fulton Ferry Landing

The Landmarks Preservation Commission (LPC) on Tuesday gave mixed reviews for a proposed new concession pavilion outside of the landmarked fireboat station at the Fulton Ferry Landing. The proposal, chosen last December by the Brooklyn Bridge Park (BBP), includes constructing an outdoor restaurant and bar that would connect to an adjacent utility shed and sit in front of the two-story fireboat station, previously home to the Brooklyn Ice Cream Factory. While Alex and Miles Pincus, the operators of the proposed space, designed the outdoor concession to be simple and airy, some LPC commissioners expressed concern over the structure possibly blocking views of Manhattan and the need to keep the space as open as possible.
See the proposed project

Marc Jacobs snags a Frank Lloyd Wright-designed home in Westchester for $9.2M

Via Wikimedia

April 9, 2019

Marc Jacobs snags a Frank Lloyd Wright-designed home in Westchester for $9.2M

Fashion designer Marc Jacobs has purchased a Westchester home designed by Frank Lloyd Wright for $9.175 million, the Wall Street Journal reported Monday. Located in the wealthy Westchester County neighborhood of Rye, the home was built by Wright in 1955 for European car importer Max Hoffman. Located at the tip of North Manursing Island, the waterfront property will serve as a weekend retreat for Jacobs and his husband Char Defrancesco, who recently wed this month.
Learn more

1,200-unit Hunters Point development breaks ground and reveals new looks

New rendering by ODA Architects for TF Cornerstone

April 5, 2019

1,200-unit Hunters Point development breaks ground and reveals new looks

Developer TF Cornerstone officially broke ground Friday on its mixed-use, affordable housing development in Long Island City, a plan that began nearly six years prior. The project, which consists of 1,194 new apartments across two buildings on Center Boulevard, falls under the city's redevelopment of Hunter's Point South, a proposal with the goal of bringing 5,000 units of new housing to the area first backed by former Mayor Michael Bloomberg. In addition to the residences, the project includes construction of a community center, local retail, a new public park designed by Mathews Nielsen Landscape Architects, and a K-8 school. A pair of new renderings highlights the open space planned between the new towers.
Get the details

Lawsuit says 670-foot-tall Seaport condo tower has an ‘off-kilter’ foundation and a leaning problem

Rendering courtesy of Goldstein Hill & West / Fortis Property Group

April 3, 2019

Lawsuit says 670-foot-tall Seaport condo tower has an ‘off-kilter’ foundation and a leaning problem

The sleek 670-foot-tall, 58-story condominium tower at 161 Maiden Lane that broke ground in 2015 alongside one of Manhattan’s most iconic vistas is leaning three inches to the north, according to a lawsuit filed by the project's contractor, the Observer reports. The contractor, Pizzarotti, filed a suit in New York State Supreme Court that alleges that an off-kilter foundation affects the structural integrity, facade, waterproofing, and elevators at the 150,000-square-foot tower and that developer Fortis Property Group is responsible.
Find out more

50 Cent finally unloads 52-room Connecticut compound for $2.9M

Photo of 50 Cent via Wikimedia

April 2, 2019

50 Cent finally unloads 52-room Connecticut compound for $2.9M

By Annie Doge

Twelve years later, the massive Connecticut mansion owned by rapper-actor 50 Cent has finally sold. According to the Wall Street Journal, the musician's mansion in Farmington sold for $2.9 million, 84 percent less than the $18.5 million he first sought in 2007. Most recently, the 17-acre estate was listed for just under $5 million. The home stretches 50,000 square feet and is decked out with 19 bedrooms, 35 bathrooms, its own night club, basketball court, movie theater, and G Unit-themed decor throughout.
Take a tour

Mr. Chow founder lists Dumbo penthouse with private courtyard and roof terrace for $6.5M

Listing images by Will Ellis of Donna Dotan Photography

April 1, 2019

Mr. Chow founder lists Dumbo penthouse with private courtyard and roof terrace for $6.5M

Michael Chow, founder of the Mr. Chow restaurant chain, has just put his Dumbo penthouse on the market for $6,495,000. It seems the restaurateur is moving to the West Coast, as earlier this month Chow and his wife bought two Los Angeles properties from pop star Katy Perry, as Mansion Global reported. Chow bought his three-bedroom duplex at 1 John Street in 2016 for $5,760,000. The modern abode spans across 2,600 square-feet and is one of four homes in the 42-unit building to have a private courtyard and a private roof terrace. You’ll be able to enjoy the views from inside as well since every room overlooks the river and Manhattan skyline.
Take a look inside

Doris Roberts’ former Central Park South duplex sells for $4M

Listing image courtesy of Compass; photo of Doris Roberts via Wiki Commons

April 1, 2019

Doris Roberts’ former Central Park South duplex sells for $4M

Back in 2017, 6sqft reported that the duplex co-op at 200 Central Park South owned by the late Emmy-winning actress Doris Roberts (you probably know her best as Marie Barone from “Everybody Loves Raymond”) had been listed for $3.3 million. Now the New York Post reports that the two-bedroom duplex has sold for $4 million. The sale included the two apartments owned by Roberts' estate, plus an adjacent one-bedroom. The buyer, a Broadway producer, plans to combine the apartments into one big duplex within walking distance to the theater district.
Get one last look

April 1, 2019

Fashion designer Cynthia Rowley’s West Village showroom-townhouse sells for over $14M

Fashion designer Cynthia Rowley has found a buyer for her three-story townhouse in the West Village. The buyer paid more than $14 million for the property at 16 Morton Street and plans to use the 25-foot-wide home to house a luxury car collection, the Wall Street Journal reported. The townhouse was first listed last April for $17.5 million; Rowley lowered the price to just under $16 million last fall.
Tour the digs

March 28, 2019

Brooklyn Heights library tower One Clinton tops out

The Hudson Companies Inc. has just announced the topping out of the 38-story One Clinton condominium building in Brooklyn Heights. The new building, with entrances at 280 Cadman Plaza West and 1 Clinton Street, was designed by Marvel Architects, who gave the 409-foot tower a Flatiron building-inspired shape.
Check out more construction photos, this way

Real Estate Trends

Renderings courtesy of Citi Habitats New Developments

March 28, 2019

Eliot Spitzer’s Williamsburg-waterfront development opens lottery for 121 low-income units

By Dana Schulz

Back in June, an affordable housing lottery launched for 65 apartments at one of Spitzer Enterprises’ trio of rental buildings along the South Williamsburg waterfront known as 420 Kent. These apartments were located in the northernmost of the ODA-designed glassy towers. Now, a second lottery has come online (20 percent of the development's 857 units are affordable) for 121 low-income apartments at the southern piece of the complex. These residences are reserved for households earning 60 percent of the area median income and range from $867/month studios to $1,123/month two-bedrooms.
Find out if you qualify

Jersey Shore’s first five-star hotel set to launch reservations this spring, starting at $295/night

Rendering by Binyan Studios

March 28, 2019

Jersey Shore’s first five-star hotel set to launch reservations this spring, starting at $295/night

After over a decade in the works, the Jersey Shore is getting its first five-star boutique hotel. The Asbury Ocean Club, a 17-story hotel-condo, will open this June in Asbury Park, a hip beach community with working-class roots known for its flourishing foodie and surf scene, as well as its Bruce Springsteen connection. Opening this summer, the 54-room beachfront hotel occupies the building's entire fourth floor and sits next to the pool deck, which offers water views. With its proximity to New York City, the Asbury Ocean Club Hotel hopes to attract New Yorkers looking for an oceanfront oasis. And the prices even mirror Manhattan, with rooms starting at $295 per night. Reservations officially launch May 1.
See inside

Find out how much a pied-à-terre tax would affect the value of NYC’s most expensive homes

220 Central Park South. Image via Vornado Realty Trust and Robert A.M. Stern Architects.

March 25, 2019

Find out how much a pied-à-terre tax would affect the value of NYC’s most expensive homes

Calls for a so-called pied-à-terre tax have increased since hedge fund manager Ken Griffin closed on a penthouse at 220 Central Park South for over $239 million in January, for a residence that the billionaire will be using as “a place to stay when he’s in town.” And State Budget Director Robert Mujica stated recently that a pied-à-terre tax could be combined with other revenue solutions to help fund the Metropolitan Transportation Authority’s $40 billion in capital needs. Owners of some of the city's highest-priced real estate, however, could face a dramatic dip in their property values if the tax plan is enacted, the Wall Street Journal reports, after an analysis that showed how the heftiest tax would be levied on a small number of houses, co-ops, and condos with market values of $25 million or more. The new tax could potentially slash the value of this handful of pricy properties by almost half.
How much is half of too much?

A 19th-century warehouse on Governors Island will become a permanent arts center

Photo by Zachary Tyler Newton

March 25, 2019

A 19th-century warehouse on Governors Island will become a permanent arts center