Real Estate Trends

Photo via Dennis Fraevich's Flickr Located on the Hudson River adjacent to New York City's northern border, Yonkers is the third-largest city in the state with nearly 200,000 residents. And with five major highways, two commuter train lines that are just a 28-minute trip to Grand Central, and the highest number of bus lines in Westchester County, it's no surprise that many are going bonkers for Yonkers. Phillip Gesue, chief officer of development at Strategic Capital, the developer of the Hudson Park residential project, told 6sqft that Yonkers is in transition. "Unlike Manhattan, which is, perhaps, over-baked, Yonkers is an affordable place to live and play," Gesue said. "It has people who have been living here a long time and new transplants who largely want to work in New York City. There is a growing population, development momentum and job growth.” Ahead, find out how officials are working to attract millennials, get a breakdown of all Yonkers' new developments, and learn why there's a lot more to do here than you might think.
Get the Yonkers low-down

Real Estate Trends

June 28, 2018

Aspiring real estate developer Kanye West takes a loss on Noho condo sale

By Annie Doge

For those who were skeptical about Kanye West's recently announced foray into real estate ("I’m going to be one of the biggest real estate developers of all time. Like what Howard Hughes was to aircrafts and what Henry Ford was to cars," he humbly said.) here's proof that Yeezy might want to stick to rapping and Kardashian kuddling. TMZ reports that Kanye has just sold his Soho condo at 25 West Houston Street for $3 million, even less than the $3.14 million he paid for it.
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Plan released for a seven-building, 800+ unit affordable development in Brownsville

Rendering via L+M and Curtis+Ginsberg Architects

June 26, 2018

Plan released for a seven-building, 800+ unit affordable development in Brownsville

Plans for a seven-building affordable housing development in Brooklyn's Brownsville were released this week, as part of the city's revitalization effort in the neighborhood. As part of the "Brownsville Plan," the proposed project includes eight-to nine-story residential buildings with new retail and community space along Livonia Avenue. The project would extend the existing Marcus Garvey Apartments, a housing complex built in the mid-1970s that currently has many underutilized parking lots (h/t YIMBY). Overall, the more than 900,000-square-foot development will bring over 840 affordable apartments, currently estimated to be set aside for New Yorkers earning 80 percent or below the area median income.
More details here

June 25, 2018

Get a first look at the amenities at Bjarke Ingels’ High Line towers

By Dana Schulz

Less than two weeks after HFZ Capital revealed the marble-clad interior renderings for Bjarke Ingels’ High Line-facing XI condo/hotel project at 76 Eleventh Avenue, they've now launched the official website. First spotted by Curbed, the site gives us our first view of the amenities such as the huge, glass-enclosed pool, as well as an up-close look at the "Bridge Lounge," the swanky amenity space located within the development's skybridge. The double-height podium bridge, which connects the asymmetrical, twisting towers, will have a retractable movie screen, private wine tasting room, bar, and library.
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FREE RENT: This week’s roundup of NYC rental news

Images (L to R): New York By Gehry, The Pointe, The Addition and Jackson Park

June 23, 2018

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

Images (L to R): New York By Gehry, The Pointe, The Addition and Jackson Park Renting in New York’s Tallest Apartment Building, New York by Gehry [link] Live at The Maya from $1,795/Month; No Fee Rentals in Jamaica Estates [link] The Pointe Debuts in Rego Park with 1 Month Free; New Rentals from $1,962/Month [link] […]

Real Estate Trends

June 21, 2018

PHOTOS: See Moynihan Train Hall’s massive skylight being installed

After starting construction last summer, Skidmore Owings & Merrill (SOM)'s reimagined Moynihan Train Hall is now beginning to take shape. Part of Governor Cuomo's Empire Station Complex revamp of Penn Station, the old James A. Farley Post Office will be transformed into a crystal palace-esque boarding concourse with a 92-foot high skylight atop the 1913 building's original steel trusses. CityRealty recently got an exclusive aerial look at how construction is progressing on the glass skylights ahead of the Train Hall's anticipated 2020 opening.
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Katie Couric sells her Park Avenue pad for $7.8M

Update 6/21/18: The Post now reports that Couric’s apartment closed for $7,780,000, according to property records. The buyers are Dana Wallach Jones, general counsel for the Guggenheim Museum, and Michael Jones, the CFO of Lambert Television. The couple is active on the board of the American Museum of Natural History, which is just across the park from their new digs.

June 21, 2018

Katie Couric sells her Park Avenue pad for $7.8M

By Annie Doge

Twenty years ago, celebrated news anchor Katie Couric bought a classic, five-bedroom co-op at 1155 Park Avenue. But after remarrying in 2014 to financier John Molner in 2014, the couple upgraded to a $12 million, full-floor apartment at the Peter Pennover-designed 151 East 78th Street. Couric first listed her longtime Upper East Side home this past October for $8.25 million; she then dropped the price to $7,995,000 at the end of January, and now the Post reports that the home has gone into contract.
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David Adjaye reveals interiors for luxury FiDi condo, his first NYC tower

Renderings by Binyan

June 19, 2018

David Adjaye reveals interiors for luxury FiDi condo, his first NYC tower

With construction officially underway at 130 William Street and sales launching for the 244 condos later this month, Sir David Adjaye hosted an event last night to reveal the interiors of his 800-foot Financial District tower. And they're just as chic as expected, with finishes made from materials sourced from all over the world and hardware designed by the starchitect himself. Adjaye Associates collaborated with Hill West Architects on the project. "In defining the design for 130 William, I not only sought to celebrate New York City’s heritage of masonry architecture, referencing the historical architecture once pervasive upon one of the city’s earliest streets," Adjaye said. "However, and more importantly, 130 William has been crafted to focus on the new possibilities of urban, vertical living."
See the renderings here

Reaching over 1,000 feet, 35 Hudson Yards tops out as the mega-project’s tallest residential building

Construction photo via CityRealty

June 19, 2018

Reaching over 1,000 feet, 35 Hudson Yards tops out as the mega-project’s tallest residential building

The first residential supertall to rise at the Hudson Yards mega-project officially topped out this week at 1,009 feet. Developed by Related Companies and Oxford Properties Group, 35 Hudson Yards rises 72 floors and is now considered the ninth tallest structure in New York City, YIMBY reported. Skidmore Owings & Merrill (SOM) designed the 1.1 million-square-foot mixed-use tower, which will accommodate 137 private residences, an Equinox-branded hotel and fitness club, office space and ground-floor retail.
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$7,000/month Dumbo triplex makes a splash with rustic details–and a rooftop beach

This classic industrial Dumbo loft at 50 Bridge Street is already ahead of the rental pack by being an extra-large one-bedroom, two-bath apartment that spans three levels. It has the prerequisite high ceilings and exposed beams plus a working fireplace, central A/C and large south-facing windows. It's asking $6,900 a month, which seems a bit steep (even with a swing in the middle of the living room), until you discover the massive private roof deck with all the summertime fun necessities including a hot tub, a cabana and more.
Let's take a closer look

Images (L to R): EVGB, 19 Dutch, The Alexander and The Lawrence

June 16, 2018

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

Rent at 19 Dutch, FiDi’s New “Culturally-Inspired” Skyscraper with Early-Bird Bargains [link] Extell’s East Village Rental, EVGB at 510 East 14th Street, Already 50% Leased – See Remaining Listings [link] Beachfront Living at The Tides at Arverne by the Sea – Now Leasing from $1,775/Month [link] Glassworks Bushwick: Get to Know Brooklyn’s New Rental at […]

Real Estate Trends

June 15, 2018

Cole Porter’s former Manhattan townhouse in historic Sniffen Court enclave has sold for $4.8M

Tucked within the Sniffen Court Mews in Murray Hill, blocked from the public by a private gate off East 36th Street, composer and songwriter Cole Porter’s former townhouse has sold for $4.8 million (h/t New York Post). The former engraver's studio, located in one of just a few private mews in New York City at 156 East 36th Street originally served as stables during the Civil War era.
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First look at the latest huge residential project proposed for Greenpoint’s waterfront

Rendering posted on the construction fence

June 14, 2018

First look at the latest huge residential project proposed for Greenpoint’s waterfront

On the site immediately south of the former Greenpoint Terminal Market, which was destroyed in a massive fire in 2006, three high-rise buildings are planned, containing hundreds of apartments. As of now, Halcyon Management Group has filed permits for a 19-story, 234-unit tower at 29 West Street, a 14-story, 92-unit tower at 37 West Street and a 33-story, 410-unit tower at 65 Private Drive. CityRealty recently uncovered the first renderings of the Brooklyn project, which show a total of four towers, with two 400-foot towers overlooking the East River, and two smaller buildings situated further inland. SLCE Architects is listed as the architect of record for the three buildings filed.
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June 13, 2018

Leasing launches for a glass-factory-turned-chic rental in Bushwick, from $2,500/month

Photo via N7 Bushwick’s newest rental development, Glassworks Bushwick, is a cool blend of new construction and reuse of the original Dannenhoffer Opalescent Glassworks stained glass factory. Located at 336 Himrod Street, real estate developer and designer ASH NYC, in partnership with Martin Lomazow and the owner of the factory, are developing the 77,000-square-foot mixed-use development in the bustling Brooklyn neighborhood. Ranging from $2,500/month studios to $3,800/month three-bedrooms, as well as a selection of penthouses, Glassworks Bushwick includes 63 rentals in the five-story building. The rental, currently under construction, will incorporate new construction, the rehabilitation of an existing factory space and the redevelopment of an existing garage building into a commercial space. The project is set to be complete this year.
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June 12, 2018

New marble-clad interior renderings revealed for Bjarke Ingels’ High Line-facing XI

Renderings via Dbox for HFZ Capital Group Back in April, 6sqft brought you a new batch of renderings showing Bjarke Ingels and developer HFZ Capital's XI (or the Eleventh) at 76 Eleventh Avenue ahead of a May 7 sales launch. The West Chelsea hotel-condo project is notable not only for being Ingels’ first NYC condo project but for its asymmetrical, twisting silhouette. Those renderings showcased the pair of towers and their sky-bridge, along with, for the first time, the central courtyard and an apartment interior. Now, as Curbed learned, we get a preview of the project's interiors, clad in several different flavors of dramatically-veined creamy beige and white statement marble and pale chevron flooring with wood accents–and stunning NYC and river views in every direction.
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Via Silverstein Properties

June 11, 2018

3 World Trade Center officially opens, the fourth WTC building completed

Right on schedule for a June opening, developer Silverstein Properties took the lead in celebrating on Monday the highly anticipated opening of 3 World Trade Center with a ribbon-cutting ceremony. Led by CEO Larry Silverstein, the morning celebration at 3 World Trade Center at 175 Greenwich Street marked the official completion of four of the five buildings in the new World Trade Center complex. With nearly 40 percent of the building leased on opening day, the 80-floor tower designed by Rogers Stirk Harbour + Partners rises to 1,079 feet. "Starting with 7 WTC and the rest of the towers that followed, we sought to create modern, environmentally-conscious and technologically-advanced offices," Larry Silverstein, the chairman of Silverstein Properties, said in a statement. "Places that foster creativity where young people would want to work and collaborate. That meant great architecture and sustainable design, but also improved transportation, a more vibrant streetscape, new shops and restaurants, great public spaces, and exciting and fun public space art."
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Images (L to R): 325 Kent Avenue, House No. 94, 485 Marin Boulevard and 99 Gold Street

June 9, 2018

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

Images (L to R): 325 Kent Avenue, House No. 94, 485 Marin Boulevard and 99 Gold Street Two Months Free at 325 Kent Avenue; See New Photos [READ MORE] Prospect Lefferts Gardens Rental Debuts: The Lawrence Leasing from $1,938/Month [READ MORE] Leasing Kicks Off at Williamsburg Rental House No. 94 with 2 Months Free [READ […]

Real Estate Trends

New Jersey City rental debuts in leafy, historic Hamilton Park

Interior ‘canyon’ with stepped terraces via HWKN.

June 7, 2018

New Jersey City rental debuts in leafy, historic Hamilton Park

Following the much-documented Jersey City launches of the Journal Squared and Ellipse projects, a new rental building has opened at 485 Marin Boulevard in JC's Hamilton Park neighborhood, known for its historic Victorian homes and streets lined with colorful cafes, shops and restaurants. The new residence comes from KRE Group– the developers behind the Journal Squared project–and is offering studios and one, two and three-bedroom apartments that start at $2,300 for a studio with the added incentive of a free month on a 13-month lease and two free months on a 26-month lease.
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June 7, 2018

Study: A former freight line on the Lower Montauk branch could help a Queens transportation desert

How do you connect the fastest-growing census tract in the U.S. to New York City’s public transportation hubs? Architecture firm Kohn Pedersen Fox (KPF), whose New York City work includes the master plan for Hudson Yards, One Vanderbilt and Two Waterline Square, has released a "visioning study" that explores how the repurposing of the QNS, an 8.5 mile Lower Montauk Branch rail line, into a new transit line in Queens that could revitalize neighborhoods, provide affordable housing, create jobs and add transit service to the over nine square miles of New York City that contain three of the city’s largest and most successful Industrial Business Zones (Maspeth, Long Island City, and North Brooklyn) and two of Queens’ largest central business districts (Long Island City and Jamaica Center), adding to the long-term growth of those districts and creating thousands of potential new jobs.
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June 6, 2018

Rolling Stones guitarist Keith Richards unloads Washington Square penthouse at a loss

By Annie Doge

It was only four years ago that Rolling Stones guitarist Keith Richards and his wife, model Patti Hansen, bought the penthouse at celeb-filled 1 Fifth Avenue for $10.5 million. Two years later, after an overhaul by architect Joe Serrins, the rock legend listed the Greenwich Village spread for $12.23 million. But as it goes, "You Can't Always Get What You Want," and in October 2017 he dropped the price to $12 million even and brought it celebrity stager Cheryl Eisen. The price continued to decline, dropping to $11 million this past November, and most recently $9.95 million. Now, the Observer reports that it's gone into contract, meaning he more than likely took a loss.
Check out the penthouse

Photo credit: Daniel Levin

June 6, 2018

REVEALED: First look at Williamsburg’s Domino Park ahead of Sunday opening

Two Trees Management announced today that Domino Park, the long-awaited new waterfront recreational public space at the 11-acre Domino Sugar Factory site, will celebrate its grand opening this Sunday, June 10. In April, 6sqft revealed renderings of the new park and esplanade that will anchor the three-million-square-foot Williamsburg mega-development at the Domino Sugar Factory site, designed by James Corner Field Operations (of the High Line fame). The quarter-mile long public park, located just north of the Williamsburg Bridge, celebrates the history of one of the city's most iconic industrial waterfront sites with adaptively reused syrup tanks, warehouse columns, and original cranes (now painted the park's signature turquoise color "untealed"). There will also be a taco kiosk from Danny Meyer, a water feature, bocce courts, and a children's playground designed by Mark Reigelman as a reinterpretation of the original factory.
Check out industrial artifacts, water features and more

June 5, 2018

Lord & Taylor is closing its 104-year-old Fifth Avenue flagship store

Photo courtesy of Lord & Taylor Lord & Taylor's iconic New York City flagship store will close its doors next year, after occupying the Fifth Avenue building for 104 years. In an attempt to keep afloat last year, Hudson's Bay, owner of the department store, sold the 676,000-square-foot building for $850 million to WeWork, who planned to make the landmark its new global headquarters. While Lord & Taylor was left with roughly 150,000 square feet of space at 424 Fifth Avenue, the company struggled to maintain profitability after the turnover of the building to WeWork. Including the iconic flagship, the company will also close as many as 10 Lord & Taylor stores total (h/t Bloomberg). In a first-quarter report, Hudson's Bay said: "Exiting this iconic space reflects Lord & Taylor's increasing focus on its digital opportunity and HBC's commitment to improving profitability."
More here

Real Estate Trends

June 5, 2018

Jessica Lange drops $3.3M on her second co-op at 1 Fifth Avenue

Jessica Lange is movin’ on up. According to city property records first spotted by The Real Deal, the Academy-award winning actress bought the two-bedroom co-op directly above her current home in 1 Fifth Avenue. Lange paid $3.3 million, more than $500,000 under the asking price, for the sun-filled unit, which is much in need of updating. But this won't be a problem if the speculation that she's looking to combine the two apartments is true.
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Images (L to R): The Rollins, 63 Wall Street, 1 Flatbush Avenue and Sky

June 2, 2018

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