Real Estate Trends

January 12, 2018

The South Bronx gets a new creative office hub at Union Crossing

We've been hearing so much about neighborhoods like Bushwick, Sunset Park, the Brooklyn Navy Yard and Long Island City ushering in a new era of creative industry. But the city’s next creative office hub is blossoming in the South Bronx neighborhoods of Mott Haven, Port Morris, and Hunts Point. CityRealty offers an update on newest addition to the area, to arrive by mid-2018: Union Crossing at 825 East 141st Street will bring more than 275,000 square feet of office and studio space with retail on the ground floor.
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January 10, 2018

‘Law & Order SVU’ actress Stephanie March snags a two-unit penthouse at the Shephard for $35M

By Annie Doge

Actress Stephanie March, best known for her role in "Law & Order SVU," and her husband, Daniel Benton, just picked up a penthouse for $34.62 million at the Shephard, a converted condo building in the West Village. As the Wall Street Journal reported, the couple is combining two units at the building at 275 West 10th Street to create a five-bedroom spread spanning 6,836 square feet. The apartment boasts a 3,451 square foot terrace as well as oversized windows, barrel-vaulted ceilings and solid hardwood oak floors.
Take a tour

Thomas Heatherwick designs two bubbled condo towers for Related’s High Line-straddling site

Proposed rendering of 515 West 18th Street via Related Companies

January 10, 2018

Thomas Heatherwick designs two bubbled condo towers for Related’s High Line-straddling site

By Devin Gannon

Thomas Heatherwick plans to bring more eccentricity to Manhattan's west side with two condo towers covered in a bubbled facade and bisected by the High Line, as CityRealty reported on Wednesday. The straddling pair at 515 West 18th Street, currently known as the Hudson Residences in conjunction with another Robert A.M. Stern-designed tower planned for West 22nd Street, will contain 181 condos split between a 10-floor east tower and a 22-floor west tower. The development spans 425,000 square feet and will include 17,000 square feet of retail and gallery space, as well as 175 parking spots.
See the towers

Harry Houdini’s one-time Harlem townhouse conjures a buyer at $3.6M

Houdini image: Wikimedia Commons.

January 9, 2018

Harry Houdini’s one-time Harlem townhouse conjures a buyer at $3.6M

By Michelle Cohen

The 6,008-square-foot four-story townhouse at 278 West 113th Street that once belonged to master escape artist Harry Houdini has sold for $3.6 million–a full $1 million below its original ask–according to Mansion Global. 6sqft reported last June that the former home of the illusionist, magician and one of the most talked-about celebrities of the early 20th century and his wife, Bess, had hit the market for $4.6 million. Houdini–born Erich Weiss, the son of a rabbi from Budapest, lived at the Harlem home for 22 years until his death in 1926.
This house is no illusion

Roberta Flack’s ‘architect ready’ co-op in the Dakota is in contract

Photo of Roberta Flack via Wikimedia

January 8, 2018

Roberta Flack’s ‘architect ready’ co-op in the Dakota is in contract

By Annie Doge

Roberta Flack's co-op apartment with mirrored walls in the iconic Dakota has finally found a buyer, after being on and off the market since 2015. As the New York Post reported, the unidentified buyer plans to combine the four-time Grammy Award winner's five-room pad with an adjacent apartment, which was allegedly the one-time home of Judy Garland. While the final sale price of the combined package is not known yet, it appears the merge will restore the exact floor plan of one of the Dakota's 65 original units back when the building was finished in 1884. Flack's apartment was last listed for $6.99 million and the co-op next-door was most recently listed for $10 million.
See inside

Daniel Craig may be the buyer of this $6.75M fixer-upper Cobble Hill brownstone

Daniel Craig image via Flickr

January 8, 2018

Daniel Craig may be the buyer of this $6.75M fixer-upper Cobble Hill brownstone

By Michelle Cohen

. Actor Daniel Craig is the latest of the Hollywood brigade to land in Brooklyn, according to the New York Post. The 21st century James Bond and wife Rachel Weisz have reportedly scooped up the Cobble Hill townhouse at 22 Strong Place formerly owned by author Martin Amis. The home was damaged in a fire in 2016; Amis and wife Isabel Fonseca, who've moved to a Downtown Brooklyn apartment, offered the property complete with intact (despite the blaze) recent renovations and landmarks-approved plans for repairs as per the listing.
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NYC RENTALS: This week’s roundup of rental news & offers

Images (L to R): 325 Kent Avenue, Instrata Gramercy, 63 Wall Street and Watermark LIC

January 6, 2018

NYC RENTALS: This week’s roundup of rental news & offers

By Ondel Hylton

Images (L to R): 325 Kent Avenue, Instrata Gramercy, 63 Wall Street and Watermark LIC Billionaire Grocer Launches ‘THE EAGLE’ and Completes 1,000-Unit Project in Downtown Brooklyn New Listings at 7W21: See Inside Elegant Rentals by Morris Adjmi Architects Checking-In on The Eugene: New Homes in Midtown’s Tallest Rental Tower Leases from $1,800/Month at South […]

Real Estate Trends

The Peninsula, a Hunts Point mixed-use complex on former juvenile jail site, gets new renderings

All renderings by BLA + WXY

January 5, 2018

The Peninsula, a Hunts Point mixed-use complex on former juvenile jail site, gets new renderings

By Devin Gannon

Updated renderings have been released of The Peninsula, a $300 million project that will bring 740 affordable housing units to the site of the former Spofford Juvenile Detention Center in the Bronx neighborhood of Hunts Point. In addition to the 100 percent affordable housing, the five-acre site will contain 52,000 square feet of open and recreational space, a 48,000 square feet of community facility space and ground-floor retail space that will span 21,000 square feet. According to CityRealty, there will also be an 18,000 square foot wellness center operated by Urban Health Plan to provide residents with quality healthcare services.
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January 5, 2018

New renderings unveiled of John Catsimatidis’ 32-story Downtown Brooklyn rental ‘The Eagle’

By Devin Gannon

Leasing has officially commenced at 86 Fleet Place, the final residential tower of John Catsimatidis' four-building development along Myrtle Avene, a site the billionaire first purchased from Long Island University in 1982. Dubbed by Catsimatidis' Red Apple Group as "The Eagle," the 32-story 440-unit building sits in between Downtown Brooklyn and Fort Greene and offers studios for $2,044/month, one-bedrooms for $2,743/month and two-bedrooms starting at $4,050/month. As CityRealty learned, residences will feature floor-to-ceiling windows, custom oak cabinets and Brazilian stone countertops.
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Snedens Landing house that may have been George Washington’s office sells for $1.6M

By Michelle Cohen

Located in the in the under-the-radar Rockland County celebrity enclave of Snedens Landing, this 18th century stone house, home of landscape designer and photographer Judy Tompkins for 60 years until she passed away at age 90 last May is rumored to have served as George Washington's office when his men were guarding the ferry service from the cliffs of the Palisades. 6sqft previously noted the home's rich history, beautiful interiors, and gorgeous perennial gardens created and tended by Tomkins, when the property hit the market last summer for $1.6 million. Now, the New York Post reports that the home has sold for its full asking price.
Check out the beautiful gardens

Anti-Trump financier sells Trump Palace pad for less than half of original ask

“The problem is real and will not go away anytime soon.” Image via Google Street View.

January 4, 2018

Anti-Trump financier sells Trump Palace pad for less than half of original ask

By Michelle Cohen

Back in June 6sqft reported on efforts by former Goldman Sachs executive Laurence Weiss, who had been trying to sell his 3,600-square-foot, four bedroom apartment at Trump Palace at 200 East 69th Street for two years, to get the building's residents to agree to ditch the Trump name. Weiss had originally asked $15 million for the Upper East Side condo and still had no buyer even at $8.9 million. The building's name remains, but Weiss has finally sold the apartment–for $7.4 million, The Real Deal reports.
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Real Estate Trends

January 2, 2018

The evolution of Hudson Square: From the Printing District to ‘affordable’ luxury

By Michelle Sinclair Colman

Hudson Square is undergoing another transformation. The neighborhood was once known as the Printing District because of the printing companies attracted to the large concrete and steel factory buildings located close to their Wall Street clients. In the 1970s and ‘80s, technology and design companies replaced the printing industry, attracted by the architecture, location, transportation options, and affordable rents. But the area is once again evolving. This time it's experiencing a boom of what developers and realtors call “affordable luxury" condominiums (in the $1 - $2 million range) due to the largest privately-initiated rezoning efforts in the history of New York City. Not only is the neighborhood growing in height and residences but a large fund has been set aside to increase the neighborhood's commercial mix, greenery, and traffic flow.
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Battle heats up over East Harlem park where a 760-foot tower is planned

Rendering of 321 East 96th Street via Perkins Eastman Architect

January 2, 2018

Battle heats up over East Harlem park where a 760-foot tower is planned

By Devin Gannon

Located on Second Avenue between East 96th Street and East 97th Street, the Marx Brothers Playground boasts a jungle gym and ball fields spread out over 1.5 acres. The East Harlem green space, which first opened in 1947 on land formerly occupied by the car barn of the Second Avenue Railway, has found itself at the center of a debate between preservationists and developers. As the New York Times reported, park advocates and city officials disagree on whether the parcel is considered a park or a playground. If it's a park, any plans to modify it require the approval from the State Legislature and the governor; playgrounds do not. While it seems irrelevant, the categorization of the land will determine whether a 68-story mixed-use tower will rise on its site, a project backed by city officials and affordable housing advocates.
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December 29, 2017

What to expect in the 2018 NYC real estate market

By Emily Nonko

2017 kicked off in the face of great uncertainty regarding how a former New York real estate developer in the White House would affect New York real estate. Despite a tumultuous year of politics, the city chugged along with new development, construction ranging from affordable to luxury projects, and record-setting prices for the residential market. […]

Real Estate Trends

December 29, 2017

Philanthropist’s condo at 15 Central Park West sells for $8.5M under ask

By Emily Nonko

Robert A.M. Stern's 15 Central Park West may be New York City's most expensive condo, but that didn't help financier and philanthropist (and onetime president of the building's board) Jeffrey C. Walker and his wife Suzanne in selling their four-bedroom pad there. They listed the unit for $38 million in March of this year, but it just closed for the considerably lower amount of $29.5 million (The buyer, as public records show, is hidden behind the title "Ciel CPW LLC"). Lucky for the Walkers, though, they paid a little over $21 million for the pad back in 2007, so they've still made a nice little profit.
It boasts Central Park views and a wine cellar

Real Estate Trends

December 28, 2017

65th-floor unit at 432 Park changes hands for the third time in a year-and-a-half

By Dana Schulz

The end of 2017 has seen a lot of record-setting headlines for 432 Park Avenue, namely the $91 million, three-penthouse sale that was the city's most expensive all year. And a sale at the supertall that came through city property records today makes it clear that there's no sign of slowing down. Unit 65A, a half-floor, three-bedroom spread, first sold in June of 2016 for $27 million to an anonymous LLC dubbed "432 Holdings LLC." This past September, the building's developers CIM Group and Macklowe Properties bought back the apartment for $27.9 million in a presumed attempt to let the seller buy a larger unit in the building. As The Real Deal reported, the seller did just that, upgrading to an 80th-floor unit that cost $39 million. But as of today, the developers have all but made their money back, as the 65th-floor residence sold yet again for $26.4 million to another LLC called "Mallow Enterprises."
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Real Estate Trends

For the ninth consecutive year, Dunkin’ Donuts ranks as NYC’s largest national retailer

Dunkin’ Donuts, photo courtesy of Robert S on Flickr

December 28, 2017

For the ninth consecutive year, Dunkin’ Donuts ranks as NYC’s largest national retailer

By Devin Gannon

New Yorkers really do run on Dunkin'. According to a report from the Center for an Urban Future, beloved national coffee and donut chain, Dunkin' Donuts, has the most stores of any chain in New York City, with 612 stores total, a net increase of 16 stores in 2016 and 271 stores since 2008. In their tenth annual ranking, CUF's report found that the number of national retailers in the city increased by 1.8 percent from last year, with food retailers and restaurants showing the strongest growth. New to the list and ranking second is cell-phone store MetroPCS, which now has 445 stores citywide, adding a whopping 119 locations in the past year. Following Dunkin', Subway is the most popular fast-food chain in each of the boroughs, with a total 317 stores.
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December 28, 2017

Sen. Jacob Javits’ former Sutton Place co-op sells for $4.4M

By Devin Gannon

After first hitting the market in June for roughly $5.2 million, the former Sutton Place home of influential New York senator, Jacob Javits and his wife Marian, has found a buyer. Last listed for $4.35 million, the three-bedroom co-op at 322 East 57th Street was designed in 1933 by Joseph Urban, an architect known for his Art Deco style. According to the New York Post, Javits entertained socialites and political players, like Henry Kissinger, in his spacious 3,300 square foot duplex.
Check out the glass cube

December 27, 2017

Greta Garbo fans buy the actress’ longtime Sutton Place co-op for $2.5M over ask

By Dana Schulz

This sprawling three-bedroom at the exclusive Sutton Place co-op The Campanile may have a private location, incredible East River views, and old-world details such as wall-to-wall pine wood paneling, working fireplaces, and tons of built-ins, but it was its longtime resident who encited a bidding war. Mansion Global reports that Greta Garbo's longtime home (she lived there from 1954 until her death in 1990) has sold for $8.5 million, 43 percent higher than the $5.95 million it listed for back in March. The late actress' great-nephew Craig Reisfield said the buyers have “a reverence for my great aunt” and added that he anticipates them being "great stewards" of the home that's very much intact from Garbo's days.
See the high-end apartment here

December 22, 2017

Anthony Bourdain cancels plans for food market at Google’s Pier 57

By Dana Schulz

Despite hyping up his massive Singapore street hawker-style food hall and retail market at Google's Pier 57 development since 2015, Anthony Bourdain announced today that he won't be moving forward with the project, reports Eater. Back in March, his partner and CEO of what was dubbed Bourdain Market stepped down. At the same time, it was learned that they'd yet to sign a lease, both of which made the 2019 opening seem like a stretch. In a statement, Bourdain said, "It seems increasingly clear that in spite of my best efforts, the stars may not align at Pier 57 which is an especially complicated site for which we still do not have a lease."
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Real Estate Trends

December 20, 2017

Chinese buyer snags three penthouses at 432 Park for $91M

By Devin Gannon

After dropping a staggering $91.1 million, a buyer from China now owns three penthhouse apartments at 432 Park Avenue, the most expensive closing to date. Picking up units 92, 92B and 93B, the buyer, 432 Park Joy LLC, gets 11,906 square feet spanning two floors (h/t TRD). As 6sqft learned earlier this month, the combined units originally hit the market for roughly $120 million. Prior to this deal, the largest closing at the supertall was a penthouse that was asking $95 million but closed last year for $87.7 million. But it's still One57 that holds the record for the city's priciest residential deal, a penthouse that sold for $100.4 million in 2014.
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Real Estate Trends

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

Images (L to R): CAESURA, 777 SIXTH, 15 PARK ROW and 300 ASHLAND

December 19, 2017

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

By Ondel Hylton

In the Heart of Chelsea with an Entrance So Discrete It’s Almost a Secret [link] Caesura Leasing Launches for February 1 Move-Ins; Lending Library Lets Residents Pack Light [link] The Eugene Unveils The Hudson Club, Exclusive Rooftop Lounge with Panoramic City Views [link] 507 West Chelsea: Live Inside a 35-Story Glass Tower Above the High […]

Real Estate Trends

Everything you need to know about breaking a lease in NYC

Via Pixabay

December 19, 2017

Everything you need to know about breaking a lease in NYC

By Cait Etherington

Whether you’ve just been offered a dream job in Austin or decided to ditch New York City for a farmhouse in New Paltz, if you have a lease, you have problem. Leases are generally a good thing: They give tenants the right to stay in an apartment on a year to year or even bi-annual basis. If you need to vacate early, however, a lease can quickly start to feel like vice grip on your future. Fortunately, tenants, at least those living in rental buildings, do have some legal ways to opt out early. This guide outlines the ins and outs of lease breaking, how to find a qualified tenant, and what to do if you are currently renting in a condominium or co-op where lease breaking is a far more complex process.
Everything you need to know, right here

December 18, 2017

Extell’s first outer-borough skyscraper, Brooklyn Point, gets new renderings

By Devin Gannon

In October, Extell Development released a website with details about their luxury high-rise planned for Downtown Brooklyn. Two months later, they've released additional renderings of 138 Willougby, their first outer-borough tower. As YIMBY learned, the 720-foot skyscraper called Brooklyn Point, temporarily the tallest in Brooklyn, will have 458 condominiums designed by Katherine Newman that focus on blending "Brooklyn industrial chic” with a “refined mid-century aesthetic."
Get a first look inside

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