Real Estate Trends

August 11, 2018

RENTING IN NYC: This week’s roundup of NYC rental news

Images (L to R): 500 Metropolitan Avenue, Alvista Towers, 38 Sixth Avenue and Revetment House 500 Met: Williamsburg Rentals from $2,852/Month Debut Above New Hotel [link] Embankment House: Premier No Fee Apartments in Jersey City from $2,600/Month [link] Introducing Talo38: Luxury Rentals to Debut Near LIC – Astoria Border [link] Revetment House; Historically-Attuned Jersey City […]

August 9, 2018

Bought for $156K in ’79, soccer legend Pelé’s East Hampton beach house sells for $2.85M

Brazilian soccer legend Pelé's former Hamptons beach house recently sold, the New York Post reports. The seven-bedroom home at 156 Waterhole Road in Springs changed hands for $2.85 million, below its most recent ask of $3.25 million. The famous footballer won three World Cups during his career, which ran from the 1950s to the 1970s when he played for the New York Cosmos. Pelé–born Edson Arantes do Nascimento–bought the waterfront ranch house for $156,000 in 1979 and expanded it into its two-story, 3,400-square-foot form. Located on a landscaped acre next to Clearwater Beach and marina, the unassuming-on-the-outside house with sleek, recently renovated interiors also includes a pool, an outdoor shower and deeded access to the beach. Pelé, who is 77, lives in Brazil.
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August 9, 2018

Mike Myers sells second Soho penthouse after three years

Finally! Back in 2007, Mike Myers bought two units in Soho's 72 Mercer Street--a sixth/seventh-floor duplex penthouse for $8 million and a fifth-floor two-bedroom for $3.4 million. The idea was likely to combine them, but he never made the jump, instead deciding to list them in 2015, first individually and then for a combined total of $21.5 million. In April, he finally unloaded the penthouse for the reduced price of $13.2 million, and now the Post reports that the smaller unit has also gone into contract. Though the final sale price isn't yet available, it was last listed for $4 million.
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August 9, 2018

The best affordable and student-friendly off-campus neighborhoods in NYC

If you can’t bear the idea of living in the dorms for another year, you’re not alone. Unless you happen to go to Columbia where over 90 percent of students live on campus, there's a high likelihood you’ll be searching for your own apartment at some point during your college years, just like 57 percent of students at NYU and 74 percent at The New School. And if you're like most students, you’ll be looking for an apartment far from downtown that strikes the right balance between affordability, commutability, and access to services. To help you make the smartest decision possible, 6sqft has compiled a list of affordable, student-friendly neighborhoods in Manhattan and Brooklyn. By New York City standards, all of these are both safe (e.g., reported fewer than 1.5447 crimes per 1000 people in June 2018) and within reach (e.g., on average, three-bedroom units can still be rented for less than $5,000 per month). Using July 2018 City Realty data on average neighborhood rents, we've broken down how much you’ll pay on average to live in a three-bedroom shared unit in each of these neighborhoods. We’ve also provided average commute times to both Union Square, which is easily walkable to NYU, The New School, and Cooper Union, and to the Columbia University campus.
Get the guide
August 8, 2018

LPC approves Morris Adjmi’s condo project for East Village gas explosion site

The Landmarks Preservation Commission approved on Tuesday a seven-story condo on the site of the 2015 East Village gas explosion. Designed by Morris Adjmi Architects, the project was first presented to the commission in July but was sent back to the drawing board over concerns regarding the windows and gloomy coloring. According to Curbed NY, the firm's new design features a brighter facade, more traditional windows to reflect the character of the East Village and a permanent plaque to honor the two people that died during the explosion.
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August 7, 2018

De Blasio signs bill forcing Airbnb to disclose names and addresses of hosts

Update 8/7/18: Mayor Bill de Blasio on Monday signed into law a bill that cracks down on the number of illegal Airbnb listings in New York City. Taking effect in February 2019, the new law requires the company to disclose the names and addresses of its hosts. The information will be turned over to the Mayor’s Office of Special Enforcement.  The New York City Council passed a bill on Wednesday that requires Airbnb and other home-sharing sites to provide the names and addresses of its hosts to the city. Under state law, it remains illegal in most buildings to rent out an apartment for less than 30 days unless the permanent tenant is there. Just hours before the council unanimously voted for this legislation, an Airbnb host from Brooklyn, Stanley Karol, sued the city in federal court for fining him $30,000 after speaking out against the bill. "I believe that the City has sought to silence me, by not only saddling me with massive fines, but also making me feel unsafe in my own home," Karol said.
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August 6, 2018

Diane Kruger buys a 19th-century West Village townhouse for $12M

German-American actress Diane Kruger and her boyfriend Norman Reedus, best known for his role in The Walking Dead, bought an $11.75 million townhouse in the West Village, according to the Wall Street Journal. The couple snagged a four-story Federal-style townhouse built in 1835. Kruger, who is expecting her first child, has also listed her Tribeca home for $4.7 million. She bought the two-bedroom unit last June for $4.2 million.
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August 4, 2018

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

Images (L to R): One Flatbush, Bridgeline, BRiQ and The Windermere Greenpoint Landing’s One Blue Slip Readies for Leasing; 90% of Apartments to Have Water Views [link] Contemporary Upper West Side Rentals at The Windermere Leasing with 1 Month Free [link] BriQ Debuts in Downtown Brooklyn: No Fee Rentals with 1 Month Free [link] See […]

August 3, 2018

Rent this chic East Hampton house with a pool and outdoor fireplace for $12K/week

This three-bedroom East Hampton rental on a half-acre of landscaped greenery could be the perfect place to spend an end-of-summer getaway week (h/t Curbed). Dressed to the nines in on-trend decor and fun, fine finishes, this vacation home comes complete with heated pool, grill and outdoor fireplace for $12,000 a week in season or $40,000 a month ($20K after Labor Day).
More cute rooms, this way
August 2, 2018

New renderings released for Crown Heights Bedford Union Armory redevelopment, permits still pending

Last November, 6sqft reported that the proposed Bedford-Union Armory Crown Heights redevelopment project had begun a land use application evaluation process before the City Council, submitted by BFC Partners and the nonprofit NYC Economic Development Corporation, who intend to jointly develop the massive armory that was once housing for the National Guard. Though permits filed four months ago for a fifteen-story building are still pending approval, New York Yimby reports that new renderings have been revealed for the residential portion of the project. As planned, Marvel Architects is responsible for the design.
New renderings, this way
August 1, 2018

Jonathan Franzen closes the chapter on his $2M Upper East Side co-op

Just last month, the New York Times interviewed novelist Jonathan Franzen on his move from the Upper East Side to a suburban street in Santa Cruz, California. After having a long-distance relationship with his "spouse equivalent," writer Kathryn Chetkovich, he agreed to move to the west coast, saying he didn't miss Yorkville, the "last middle-class neighborhood in Manhattan," at all. And he's now made that perfectly clear, unloading his three-bedroom co-op at 140 East 81st Street for $2 million, according to city records.
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July 28, 2018

RENTING IN NYC: This week’s roundup of NYC rental news

Images (L to R): 485 Marin Boulevard, Lewis Steel Building, Heritage Dean Street and 321 Wythe Avenue 321 Wythe Debuts in Williamsburg: Luxury Rentals with All-Star Amenities + Skyline Views [link] The Alabama in Greenwich Village: Furnished Rentals for Students and Young Professionals [link] Clinton Hill’s Latest Rental Debuts with Homes from $2,175/Month [link] Meet […]

July 26, 2018

For $16K a month, this unique Lincoln Square loft has a double-height plant wall in the living room

This four-bedroom pre-war duplex would be unusual for its double-height living room alone, but the soaring internal space is graced with a stunning living wall feature that you definitely won't find in the average Upper West Side living room. You can rent this cool space–originally an artists' loft when the Atelier at 33 West 67th Street was constructed in 1903–for $16,450 a month.
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July 26, 2018

880+ affordable homes, new performing arts center and public space upgrades coming to Brownsville

A proposal to revitalize Brooklyn's Brownsville neighborhood was announced one year ago, with a plan to bring a seven-building housing development to the area unveiled last month. And on Thursday, city officials released more details about the massive project, with new renderings and updates on its progress. As part of the Brownsville Plan, the city's Department of Housing Preservation and Development will bring a new arts center and school run by a group from the Brooklyn Music School and a media lab run by BRIC, new retail and commercial space, and a rooftop greenhouse with locally sourced produce. Plus, two proposals were selected as the NYCx Co-Lab Challenge winners, a competition that sought to find ways to enhance the area's "nighttime experience."
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July 26, 2018

Test out townhouse life at this newly restored Harlem mansion for $13,000/month

This renovated, turn-key townhouse at 133 West 122 Street in Harlem combines 4,745 square feet of gorgeous historic details with the space and convenience of a modern mansion in one low-commitment rental opportunity for $12,950 a month. This uptown stunner was built in the 1880s by architect Francis Kimball; a recent renovation by David Mann brings contemporary chic and 21st-century comfort to the home's five bedrooms and five stories of living space, all while highlighting historic details like stained glass transoms, inlaid floors, and a whopping seven decorative fireplaces.
Tour this stunning Harlem mansion
July 26, 2018

Misty Copeland dances her way to an Upper West Side apartment for $3.1M

Ballet superstar Misty Copeland, the first black ballerina to become a principal dancer at the American Ballet Theatre, moved to the Upper West Side when she was just 17 years old to join the company. And it doesn't seem like she plans on leaving any time soon. The dancer and her husband, attorney Olu Evans, have bought a condo at 215 West 88th Street for $3.125 million. The three-bedroom home is located in the Merrion, a building erected in 1915 (h/t Real Estate Weekly).
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July 25, 2018

First look at ODA’s boxy condo coming to busy 14th Street corner

First renderings of ODA Architecture's 13-story tower planned for Greenwich Village reveal a Tetris-inspired, boxy design, YIMBY reported on Wednesday. Much like the firm's other projects, the facade of the building, located at 101 West 14th Street, will look like a series of sculpted, stacked boxes. Developer Gemini Rosemont has filed permits to convert the site which currently holds a former bank into condos with ground floor retail. There will be 45 condos total, with 21 of them duplexes.
See the design
July 25, 2018

Tribeca and Yorkville top the list for new development condo sales in 2018

For followers of Manhattan real estate it would be hard to miss the bumper crop of innovative, eye-catching and pricey new developments rising what seems like daily in Tribeca; but big numbers for new towers may come as a surprise when they're attached to old-school Yorkville on the Upper East Side. In the city that never fails to surprise, recent research from CityRealty shows that Tribeca and Yorkville are the top neighborhoods for new development condo sales so far this year. There are, of course reasons for the unlikely pairing at the top.
See who else is on the list
July 23, 2018

East Village Target’s CBGB odes get mixed reviews

Target officially opened its first store in the East Village on Saturday, to mixed reviews from locals. During its grand opening, the chain recreated the storefront of CBGB, a famous punk rock club where the Ramones, Patti Smith and Blondie played, with a red-and-white awning that reads "TRGT." Located on 14th Street and Avenue A, the design included red newspaper boxes similar to old ones of the Village Voice paper, fake fire-hydrants and a temporary facade made to look like the housing tenements of the Village in the 1970s and 1980s. Jeremiah Moss, the author behind the Vanishing New York blog, called the new store "the most deplorable commodification of local neighborhood culture I've ever witnessed." As of Monday, the CBGB-themed storefront is no longer up.
Details here
July 23, 2018

$970K Hamilton Heights condo has a sunny disposition and a farmhouse vibe

The interiors at this Upper Manhattan condo at 370 Convent Avenue are as tranquil as they are feminine, and as spacious as they are cozy. The corner apartment is on the 4th floor of a five-story pre-war condo with only two apartments per floor. It's asking $969,000, and while it doesn't currently have a craft room, it's roomy enough to find space for one, and it would certainly fit the surroundings.
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July 21, 2018

RENTING IN NYC: This week’s roundup of NYC rental news

Images (L to R): Summit, 333 Grand Street, Astor Broadway and Otto New Rentals Debut in Williamsburg from $1,999/Month at 150 Union Avenue [link] New No Fee Rentals Debut in Astoria; Live at Astor Broadway from $1,999/Month [link] Otto Greenpoint Debuts; Brooklyn Rentals at 211 McGuinness Boulevard from $2,339/Month [link] Live at Lyric: Upper West […]

July 19, 2018

New East Village Target store now open in Extell’s EVGB rental building

It might seem like it's been there forever, but the new East Village Target store at 14th Street and Avenue A opened its doors this week ahead of a scheduled grand opening Saturday, July 21. The small-format chain icon occupies the corner spot in the EVGB ("East Village's Greatest Building") rental building that opened at 510 East 14th Street this year and is now stocked and ready to supply residents (the building is 50 percent leased according to a press release from developer Extell) and the rest of the 'hood with everything from cosmetics and cleaning supplies to apples and Amy's Bowls to the cheap-but-funky home goods the store is famous for. Also beer.
Already, complaints about the beer selection
July 18, 2018

City says 668-foot UWS supertall complies with zoning rules despite community protests

The city's Board of Standards and Appeals found Tuesday that a 668-foot-tall tower proposed for a zoning lot at 200 Amsterdam Avenue does, in fact, comply with zoning rules, The Real Deal reports. The decision gives developers SJP and Mitsui Fudosan the green light to proceed with development of a condominium tower on the site at 69th Street despite a growing body of community groups opposed to the project. The Committee for Environmentally Sound Development had challenged the Department of Buildings' approval of the project on the grounds that developers assembled an illegal zoning lot in the form of a 39-sided polygon 10 times larger than the actual building's planned footprint with the intent of building a larger tower.
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July 16, 2018

New Yorkers paid over $507M for security deposits in 2016, report says

In addition to having some of the highest rents in the country, New York City requires renters to provide a substantial chunk of money up front to cover an apartment's security deposit. According to a new report by City Comptroller Scott Stringer, New Yorkers forked over more than $507 million for security deposits over the course of 2016. Stringer is calling for an overhaul of the city's security deposit system, which he says has created a financial barrier that has intensified the city's affordable housing crisis. "For too long, the deck has been stacked against New York’s working-class renters but we’re taking a step forward to reimagine how the housing system works in our City," Stringer said in a press release.
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July 16, 2018

James Gandolfini’s former West Village apartment sells for $6.2M

After nine months on the market, the late James Gandolfini's one-time West Village apartment that he shared with ex-wife Marcy Wudarski Gandolfini has found a buyer. In 1999, the couple bought one unit at 99 Jane Street for $850,000, followed by another for $1 million in 2002, combining them into one large, four-bedroom condo. Marcy took ownership the following year after they split, and the residence first hit the market in 2015 as a $21,000/month rental before listing for $7.5 million this past October. Mansion Global now reports that the home has sold for $6.2 million.
Take a look around