Real Estate Trends

Last summer, the Department of Buildings halted progress on developers J.D. Carlisle and Fosun Group's planned condo tower at 15 East 30th Street over the fact that a planned second-floor outdoor space didn't meet minimum space requirements. Presumably having ironed that out, (though we're not sure the same can be said for the neighbors angry about losing their views) designers Handel Architects have released a slew of new renderings of the 756-foot-tall tower, which will have 180 units spread over 51 floors. Uncovered by Yimby, the views show a narrow, glassy structure with a jagged pinnacle and undulating base.
See all the renderings

June 15, 2017

FIRST LOOK: See inside Penn Station’s brand new West End Concourse

As of today, Penn Station's long-awaited West End Concourse--the first tangible step towards Governor Cuomo's ambitious plan to transform the James A. Farley Post Office into the new Moynihan Train Hall--is open for business, for the first time allowing Amtrak, Long Island Rail Road, and NJ Transit passengers to enter and board trains through the historic building across 8th Avenue. In addition to landscaped entryways, the sparkling new concourse is chock full of LED screens, artwork, and, in true Cuomo fashion, bright, open, and high-tech spaces.
Take the full tour

June 14, 2017

Meg Ryan drops $9.4M on apartment in celeb-favorite 443 Greenwich

Meg Ryan will be joining Justin Timberlake and Jessica Biel, Jennifer Lawrence, Ryan Reynolds and Blake Lively, and Harry Styles at Tribeca's “paparazzi-proof” 443 Greenwich Street. The Real Deal spotted her her trust, Third World Dog, listed as the buyer of a $9.39 million, three-bedroom unit in the building, just a month and a half after her $10.9 million Soho loft went into contract.
Get the details

June 12, 2017

INTERVIEW: Amit Khurana and Michael Gabellini on designing in NYC with architect Tadao Ando

By Michelle Sinclair Colman

Before 152 Elizabeth Street, Pritzker Prize-winning architect Tadao Ando had never designed a building in New York City. The ultra-high-end, seven-unit, seven-story Nolita condominium is currently on the rise at the corner of Elizabeth and Kenmare Streets. Every detail of this Ando building reflects the famed architect’s philosophy that, “a living space should be a sanctuary. It has to be a place where you can reflect on your life.” Ando’s signature use of concrete and glass creates a strong yet minimalist beauty that finds balance at a location on the convergence of numerous neighborhoods. As architecture critic Carter Horsley puts it, “152 Elizabeth is not a dramatic masterpiece by one of the world’s greatest architects but a very refined and subtle ‘enclosure’ with wonderful detailing, a delightful surprise in this brand new, gee-whiz world of starchitects.”
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Site of East Village gas explosion sells for $9.15M

Image of the site via Google Street View

June 12, 2017

Site of East Village gas explosion sells for $9.15M

In March 2015, an explosion caused by an illegal tap into the gas main destroyed three buildings and killed two people in the East Village. Last month, Maria Hrynenko, the owner of the wrecked properties at 119 and 121 Second Avenue, sold two of the lots to Yaniv Shaky Cohen’s Nexus Building Development Group Inc. for $9.15 million, according to the New York Post. The third site destroyed by the explosion at 123 Second Avenue sold last year to Ezra Wibowo for $6 million, about $4 million less than the asking price.
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Real Estate Trends

A retro dresser inspired Beam Group’s new Bushwick condo

Rendering of 127-129 Troutman via Beam Group/ Photo via Shanna Shryne Design

June 9, 2017

A retro dresser inspired Beam Group’s new Bushwick condo

The neighborhood of Bushwick, known for its artistic hipsters, is about to get even cooler. The Brooklyn-based firm Beam Group/ J. Goldman Design revealed plans for their project at 127-129 Troutman Street in the western part of the neighborhood. The project, designed by the firm’s Adele Schachner, is inspired by the mid-century “luck of the drawer” dresser that features an incredible tri-geometric pattern in bright colors framed by a wooden border, as CityRealty learned. Renderings show the building's exterior will be composed of both opaque and screened panels.
See the renderings here

June 9, 2017

Proposed state Senate bill would ban brokers from using ‘SoHa’ in listings

As real estate developers and brokers continue rebranding neighborhoods with new nicknames, some community members fear this gentrifies and strips the history away from their nabes. Like NoLo (SoHo + Nolita + Lower East Side) and DoBro (Downtown Brooklyn) before it, SoHa, the new branding moniker for South Harlem, has been met with resistance from residents. According to Crain’s, newly elected state Senator Brian Benjamin, a native of Harlem, talked with so many residents that opposed the term SoHa, he has introduced a bill banning people, specifically brokers, from using the nickname as a marketing tool.
Find out more

June 9, 2017

Kelsey Grammer’s Chelsea condo in contract for nearly $8M

Nearly a year after first hitting the market for $9.75 million, Kelsey Grammer's condo at Jean Nouvel's glassy 100 Eleventh Avenue in west Chelsea has gone into contract, reports the Wall Street Journal. But despite the fact that that the listing showcased his piano from the set of "Frasier" and the impressive 100 feet of massive windows providing Hudson River and skyline views, the selling price came in at just under $8 million (the price was reduced to $8.95 million in March).
Check it out

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

Images (L to R): The Ellipse, 1007 Atlantic Avenue, 33 Bond Street and 70 Pine Street

June 9, 2017

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

By Emrys Fitzgerald

Live in One of the World’s Most Iconic Skyscrapers: New Leases at 70 Pine Street Include 1 Month Free [link] Downtown Brooklyn’s Topped-Out Tower with New Subway Entrance Nears Completion; See the Photos [link] Clinton Hill’s 1007 Atlantic Avenue Launches Leasing; 1-Beds from $2,215/Month [link] Model Units Unveiled at Ellipse, Jersey City’s New Waterfront High […]

Real Estate Trends

Sculptor Richard Serra drops $7M on Tribeca loft, now owns entire building

When this sprawling, full-floor Tribeca loft at 173 Duane Street first hit the market for $7.95 million at the beginning of the year, 6sqft wasn't the least bit surprised at its strikingly creative interiors, considering it was owned by artist Merrill Steiger. As we noted, it's the same building where prolific sculptor Richard Serra has lived and worked since the 1990s. At various points, he and his wife Clara have purchased the first, third, fourth, fifth and sixth floors of the early 20th-century cast-iron building, most recently paying just under $4 million for the third floor in 2011. This left only the second floor out of their hands, but LL NYC reports that Serra has just coughed up $7 million for Steiger's unit, giving him ownership of the entire building.
Take a look around

New details revealed for Upper West Side’s starchitect-studded Waterline Square

L to R: One Waterline Square by Richard Meier, Two Waterline Square by KPF, and Three Waterline Square by Rafael Vinoly

June 8, 2017

New details revealed for Upper West Side’s starchitect-studded Waterline Square

By Michelle Cohen

As 6sqft previously reported, the three buildings that comprise the Upper West Side's Waterline Square are rapidly rising from a five-acre site overlooking the Hudson River. For the neighborhood's most exciting and ambitious project in decades, a group of the architecture and design world's most celebrated names was chosen by GID Development Group to create the master plan, with Richard Meier and Partners, Kohn Pedersen Fox Associates and Rafael Viñoly Architects each designing a residential tower. We've been graced with leaked renderings of what's to come on several occasions; now, the project's dream team has lifted the curtain on a comprehensive website that reveals so-far unseen renderings of the towers and their interiors, the 100,000 square feet of amenity space that will be shared between them and the three-acre park designed by Mathews Nielsen Landscape Architects.
See the latest renderings

June 8, 2017

Diane Kruger snags eco-friendly loft in Tribeca for $4.2M

Actress Diane Kruger, who recently took home the best actress award at the Cannes Film Festival last month, just scored a chic two-bedroom unit in Tribeca for $4.2 million. The building, built in 1869, includes six units and features amenities like an on-site fitness center and a residential lounge with greenery. As reported by the New York Post, Kruger’s pad spans 1,943 square feet and has 11-foot high ceilings. Last month, the actress sold her apartment in the East Village for $1.1 million, higher than its $985,000 listing price, following a 12-offer bidding war.
See inside the chic loft

Brooklyn developer Zproekt plans a craggy condo for East Williamsburg

Renderings created by the Vyater Group

June 6, 2017

Brooklyn developer Zproekt plans a craggy condo for East Williamsburg

Renderings created by the Vyater Group Brooklyn real estate developers RYBAK and BK have laid out their collaborative plan for a new luxury condominium in East Williamsburg at 88 Withers Street. The building, when officially approved, will be called Element88 and will capture the neighborhood’s creative and eclectic residents. As CityRealty learned, renderings show a sculpted pile of floors, offset from one another. In addition to its 33 new residences, the building will also provide workspaces in its cellar that can be used for home offices, workshops, wine cellars or art studios.
See the electic renderings

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

Images (L to R): 325 Kent Avenue, Capitol at Chelsea, 82 South 6th Street and West 54th Apartments

June 2, 2017

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

By Emrys Fitzgerald

325 Kent to Open this July on the Former Domino Sugar Site; New Renderings & Pricing Revealed [link] Don’t Be Boxed-Up This Summer: Outdoor Amenities Reign at This Midtown Rental Just Two Blocks from the Greenway [link] South Williamsburg Has a New Boutique Rental – And It’s Sure to Fill-Up Fast [link] FRANK 57 WEST […]

Real Estate Trends

June 2, 2017

Google’s Pier 57 tops out ahead of summer 2018 opening

Last we checked in at the beginning of the year, the $350 million transformation of Pier 57, aka “SuperPier,” was making progress with its canted glass panels fully installed. Wednesday, co-developers RXR Realty and Young Woo & Associates held an event to mark the 450,000-square-foot development's topping out, which came after 2,600 tons of structural steel were installed, 4,000 yards of concrete poured, and a 60,000-square-foot curtain wall built. The project will include 250,000 square feet of offices for Google, a 100,000-square-foot food market from Anthony Bourdain, and an elevated two-acre park with a rooftop movie and performance amphitheater to be used for Tribeca Film Festival screenings. This construction milestone comes ahead of an anticipated summer 2018 opening.
See more construction shots and get more details

June 1, 2017

REVEALED: Morris Adjmi’s Gothic-inspired condo tower coming to Nomad

Just yesterday, 6sqft shared renderings of Moscow-based firm Meganom's super-skinny, 1,001-foot-tall tower headed for 262 Fifth Avenue in Nomad. Now, CityRealty has uncovered another slender contender for the neighborhood, this svelte 40-story condo tower designed by Morris Adjmi for 30 East 31st Street. The site formerly held the ornate Romanesque Revival parish house of the Madison Avenue Baptist Church, which, to the dismay of preservationists, was demolished in 2015 by Elkstein Development Group. However, Adjmi, known for his contextual sensitivity, will reference the church's Gothic details, with six hefty columns that emphasize its 469-foot height and assume a diagrid pattern on the upper floors resembling the barrel-vaulted ceilings of a cathedral.
More details and renderings ahead

June 1, 2017

Gloria Steinem scoops up another floor in her Upper East Side brownstone for $1.1M

By Diane Pham

Trailblazer and feminist icon Gloria Steinem appears to be expanding her Upper East Side digs. The Post reports that Steinem has just purchased a $1.1M floor-through on the third floor of 118 East 73rd Street, a brownstone where according to property records—and this Oprah video—she already owns two floors.
see more inside here

June 1, 2017

Justin Timberlake and Jessica Biel get $7M discount on Tribeca penthouse

Back in March, 6sqft reported that Justin Timberlake and Jessica Biel signed a deal for a penthouse at 443 Greenwich Street in Tribeca. At the time, the exact apartment wasn't known, though it was assumed it may have been Penthouse G, then under contract for $27.5 million. This was correct, though the power couple ended up paying only $20.2 million for the 5,375-square foot home, according to The Real Deal. The "paparazzi-proof" building--it boasts privacy-focused amenities like an interior courtyard, underground garage, and a porte-cochere--has attracted former tenants including Mike Myers, Ryan Reynolds and Blake Lively, Jennifer Lawrence, and Formula One driver Lewis Hamilton.
See the place

REVEALED: 23-story tower at South Williamsburg’s Dime Savings Bank site

Rendering of The Dime at 209 Havemeyer Street; rendering via Fogarty Finger Architects

May 31, 2017

REVEALED: 23-story tower at South Williamsburg’s Dime Savings Bank site

By Michelle Cohen

We know a little bit more of what to expect at one of Williamsburg's most important developments: The south 'burg site at 209 Havemeyer Street between South Fifth and Sixth Streets at the foot of the Williamsburg Bridge, anchored by the Neoclassical-style Dime Savings Bank of Williamsburgh building, will be getting a 23-story mixed-use tower with retail, office and residential space, CityRealty.com reports. The 109-year-old historic bank building will be preserved and restored, and will be integrated into the project at its podium according to details published by the developers. The 340,000 square-foot project will be known as the “the Dime.”
Find out more

May 30, 2017

MAP: Battery Park City is the country’s most expensive zip code for renters

With little surprise, Manhattan comes in first for the highest apartment rents in the country, with Battery Park City leading the way for the most outrageous prices. According to data collected by RentCafe and assembled into an interactive map, the average rent in this downtown 'hood is about $6,000 per month, followed by the Upper East Side averaging $4,898 per month and the Upper West Side $4,892. Other pricey Manhattan zip codes that made the top ten include the Lower East Side, Soho and Clinton.
Find out the average rent of your zip code

Real Estate Trends

May 30, 2017

Redeveloping NYC’s armories: When adaptive reuse and community building bring controversy

By Michelle Cohen

Constructed between the 18th and 20th centuries to resemble massive European fortresses and serve as headquarters, housing, and arms storage for state volunteer militia, most of America’s armories that stand today had shed their military affiliations by the later part of the 20th century. Though a number of them did not survive, many of New York City’s historic armories still stand. While some remain in a state of limbo–a recent setback in the redevelopment plans of Brooklyn's controversial Bedford-Union Armory in Crown Heights raises a familiar battle cry–the ways in which they've adapted to the city’s rollercoaster of change are as diverse as the neighborhoods that surround them.
Find out how the city's armories have fared

Images (L to R): 153 Remsen Street, Hubb, Trump Bay Street and Orient Park

May 26, 2017

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

By Ondel Hylton

Tranquility Abounds at This Boutique Rental in the Vibrant East Village [link] Perfect for Summer: FiDi Rental with Rooftop Oasis is Now Leasing with 1 Month Free [link] Between Iconic Bridges, 60 Water Offers Distinct & Minimalist Design [link] Big Rooms & Kitchens Made for Cooking at Lexington Towers; Now Leasing with 1 Month Free […]

Real Estate Trends

Ahead of L train shutdown, developers flock to properties along G, J, M and Z lines

G Train at Court Square via Wikipedia

May 26, 2017

Ahead of L train shutdown, developers flock to properties along G, J, M and Z lines

In response to the looming 15th-month L train shutdown, which will affect its nearly 225,000 daily riders beginning April 2019, real estate developers have started looking at Williamsburg’s hip and slightly cheaper neighbors, Greenpoint and South Williamsburg. Both areas sit nearby the G, J, M and Z trains, and in the past have offered a variety of housing options at cheaper prices. According to the New York Times, as developers begin their plunge into Greenpoint, sites along these train lines have become pricier and more difficult to lock down.
Find out more

May 25, 2017

Hudson Yards’ art center The Shed wraps up steel construction on its movable shell