Real Estate Trends

January 10, 2017

Christian Slater gets $1M for modest Hell’s Kitchen condo

Christian Slater made headlines Sunday night with his obviously baffled reaction to Tom Hiddleston's Golden Globes acceptance speech, but now that we've seen Slater's rather mundane Midtown condo, we're the ones a bit confused. LL NYC reports that the "Mr. Robot" actor has sold his two-bedroom Hell's Kitchen apartment for $1.1 million; he bought it for $882,500 in 2005. But as LL notes, the sparse listing photos seem to imply that he didn't spend much time there.
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January 10, 2017

Construction update: FXFOWLE’s Circa Central Park nears the finish line

By Dana Schulz

Last we heard from Circa Central Park, the circle-hugging Central Park north condo from architects FXFOWLE and developers Artimus, the lottery had launched for 10 affordable units in the building. Seven months later, with occupancy slated for this year and nearly all apartments sold, CityRealty stopped by the Harlem site to check on construction. They've shared some great views of the nearly-completed glass, metal, and brick facade, which utilizes "a brise soleil system of horizontal louvers and vertical fins" to reduce solar gain and add depth to the structure by highlighting them in bright colors.
More details ahead

January 9, 2017

Tower 28, Queens’ soon-to-be second-tallest residential building, gets new renderings

By Dana Schulz

When it's completed in March, Long Island City's Tower 28 (formerly 28 on 28th) will be the tallest residential building in Queens at 647 feet and 57 stories--that is, until it's taken over by the 66-story Court Square City View Tower nearby (this will also overtake the 673-foot 1 Court Square as the tallest overall building in the borough). Though its superlative will be short-lived, Heatherwood Communities' rental at 42-12 28th Street will still offer panoramic views, which new renderings from architects Hill West tell us will be taken in from a top-floor observatory, as well as a host of swanky amenities to "rival any vacation destination." According to CityRealty, the new exterior and interior views also come with news that leasing will begin in March, ranging from $1,900/month studios to $7,500/month three-bedrooms.
More renderings and details ahead

January 9, 2017

Eli Manning buys $8M beachfront mansion in the Hamptons

By Annie Doge

His dreams of winning a third Super Bowl may have been squashed yesterday, but at least Eli Manning's got a nice new beachfront mansion in the Hamptons to go home to. The Post reports that the Giants Quarterback dropped $8.5 million on a three-story house in Quogue, a secluded village that isn't a surprising choice for the rather low-key NFL player. The modern home was built in 2004 and has five bedrooms, a fireplace, pool, massive backyard deck, and private beach access.
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January 9, 2017

Manhattan real estate investor bought Donald Trump’s childhood home sight unseen for $1.4M

By Annie Doge

At the end of last month, 6sqft revealed that an anonymous New York investor had bought Donald Trump's childhood home in Jamaica Estates, Queens with plans to flip it at auction this month and turn a hefty profit. The Post has now learned that the mystery buyer--and democrat-turned Marco Rubio supporter--is Manhattan real estate mogul Michael Davis. Without ever having driven past the Tudor-style home at 85-15 Wareham Place, Davis dropped $1,390,500 on the piece of Trump ephemera, which he still plans to bring to auction next week.
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SOM reveals official rendering for American Bible Society-replacing condo-rental tower

The former American Bible Society building (L); SOM’s new design for 1865 Broadway (R)

January 6, 2017

SOM reveals official rendering for American Bible Society-replacing condo-rental tower

By Dana Schulz

In the fall of 2015, the American Bible Society moved from their long-time home at Broadway and 61st Street to Philadelphia. Their Columbus Circle/Lincoln Center headquarters was built in 1965 by architects Roy O. Allen Jr. and Donald C. Smith of Skidmore, Owings & Merrill, who created a 12-story Brutalist structure that was the first in the city constructed with load-bearing, pre-cast concrete exterior walls. But with the institution's recent departure came the sale of the building at 1865 Broadway for $300 million to AvalonBay Communities. The developer returned to the original architectural firm to create a new condo-rental tower at the site, and CityRealty has now uncovered SOM's first official rendering of what will replace their former work, which, interestingly enough, harkens back to the Brutalist aesthetic.
Find out more this way

January 6, 2017

New renderings of Court Square City View Tower, Queens’ future tallest building

By Dana Schulz

When plans were originally filed in February 2016, the Long Island City skyscraper since dubbed Court Square City View Tower was set to reach 964 feet. In April, it got bumped up to supertall status at 984 feet, making it Queens' future tallest building. It's since been dropped to 66 stories, but according to a new project page from architects Hill West (formerly Goldstein Hill & West), it will still be Long Island City's tallest tower, and therefore the tallest in the borough. CityRealty first noticed the updated details, which come with the first true renderings of the 800-unit condominium at 23-15 44th Drive. In addition to 360-degree views of Manhattan, the tower will offer an all-glass curtainwall facade, a retail base, and a slew of corner-apartment balconies.
More details ahead

January 6, 2017

Plans filed for a 21-story Coney Island ‘Dreams’ project on the boardwalk

By Michelle Cohen

Developer John Catsimatidis' Red Apple Group has filed plans for a 21-story tower on a Surf Avenue parcel that he purchased last summer according to Brooklyn Daily; the tower is part of a three-building Coney Island project that will likely include 415 apartments and retail. In the billionaire grocery mogul's typically patient fashion, he has slowly been acquiring the Boardwalk-adjacent lots between West 35th and West 37th streets for the project, called Ocean Dreams, since 2005.
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January 6, 2017

FREE RENT: A roundup of NYC’s latest rental concessions

By Ondel Hylton

Midtown West’s Mercedes House with 80,000+ Square Feet of Amenities Now Offering Two Months Free on Select Leases [link] Up to Two Months of Free Rent at Murray Hill’s The Frontier [link] Two Months Free with 18-Month Leases at Battery Park City’s Gateway Rentals [link] Brodsky Offering Up to Three Months Free at City Tower […]

Real Estate Trends

January 5, 2017

Mike Myers drops $14.65M on Tribeca condo at super-luxe 443 Greenwich

By Annie Doge

The red-brick, former warehouse building at 443 Greenwich Street in Tribeca was converted to boutique condos by CetraRuddy Architects and developer Metro Loft Management in 2014, and since then it's been attracting quite a bit of high-profile interest thanks to its low-profile location, luxurious lofts, and wealth of amenities. The latest celeb to cash in here is Mike Myers; the Observer reports that he and wife Kelly Tisdale have dropped $14.65 million on a four-bedroom spread (more than the $14.25 million list price). The funnyman has been trying to sell his Soho penthouse since April 2015, and though there's no word that it's found a buyer, that could very well be the reason for the move.
More on Myers' new abode

Ousted ‘Today’ show anchor Billy Bush finally sells Chelsea townhouse

By Annie Doge

Disgraced "Today" show anchor Billy Bush had bought the townhouse at 224 West 22nd Street in Chelsea in December 2015 in preparation for his new gig with NBC, but after video hit of his "locker room" chat with Donald Trump, the network gave him the boot. He had listed the residence seven months earlier, but when he lost his job he chopped the price from $8,995,000 to $8,250,000 this past October. His quick getaway plan proved mostly successful, as the Wall Street Journal reports that it's now in contract.
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January 5, 2017

NFL star Damon Harrison scores a $1.55M ritzy manor in northern Jersey

By Annie Doge

Defensive tackle Damon Harrison (aka Snacks) signed a $9.25 million/year contract with the New York Giants in March 2016, and it looks like he's decided to put some of that cash into the real estate game. The Post reports that the 28-year-old player just dropped $1.55 million on a ritzy, custom-built manor in northern New Jersey. Located in the Washington Township, about 20 miles from MetLife Stadium, the palatial, 7,080-square-foot home was custom built in 2013 and boasts glamorous (though at times a bit gaudy) details like an oversized heated driveway to melt snow, a two-story marble foyer complete with a bridal staircase and gigantic chandelier, and a double-height great room overlooked by three upstairs balconies.
See it all here

January 5, 2017

High-income renters on the rise in the Bronx and Queens

By Dana Schulz

In November, 6sqft shared an analysis from RentCafe that showed the number of high-income renters in NYC has tripled over the last decade, with the number of renter households earning more than $150,000 annually increasing by 217 percent between 2005 and 2015, from 551,000 to 1.75 million. Now, DNAinfo has asked the site to break the data down further by neighborhood, and what it tells us is that Eastchester and Baychester in the Bronx and East Elmhurst and Jackson Heights in Queens saw the largest increase in wealthy renters.
Learn more and explore RentCafe's interactive charts

January 3, 2017

New renderings and details for Rafael Viñoly’s 125 Greenwich Street

By Dana Schulz

Construction at Rafael Viñoly’s slender skyscraper 125 Greenwich Street has reached street level, but as CityRealty uncovered, the tower that was slated to be taller than 1,000 feet over the summer (and previously 1,400 feet), is back down to 898 feet. Though this now makes it shorter than Fumihiko Maki’s 977-foot 4 World Trade Center one block north, fresh renderings show that the 88-story condo will still offer sweeping views of the city and harbor, which are shown for the first time from interior shots.
More views and details ahead

December 31, 2016

From a Trump presidency to rental prices, NYC real estate experts share their 2017 predictions

By Emily Nonko

CityRealty spoke with New York City real estate experts—everyone from developers to architects to contractors to brokers—on their predictions for the upcoming year in the city’s ever-changing real estate market. From the presidential election of real estate magnate Donald Trump to the likely return of 421A tax incentives, 2017 promises big changes ahead. And yes, […]

Real Estate Trends

December 27, 2016

Amy Schumer finally sheds her Upper West Side walk-up penthouse

By Annie Doge

Amy Schumer will have a little extra to celebrate over this week. According to the Post, the comedienne has finally found a buyer for her Upper West Side co-op. Schumer originally put the adorable pad up for sale in November 2015 for $2.075 million and it's been on and off the market since then seeing several price chops. The home was last listed for $1.625 million and is said to be in contract with an unknown buyer for an unknown amount.
more details and photos inside here

December 22, 2016

Chloe Sevigny’s glamorous $2.75M Park Slope co-op goes into contract

By Annie Doge

Just 42 days after it hit the market for $2.75 million, and a mere two days since 6sqft and other media outlets reported on it, Chloe Sevigny's Park Slope co-op has gone into contract, a tipster tells us. The Indie actress bought the pre-war spread at 9 Prospect Park West for $2,053,000 in 2013, after which she completed a renovation that created a chic space with "a sophisticated mix of classic furniture and interesting artwork."
See the whole place

December 21, 2016

First look at the artsy common spaces of 5Pointz-replacing rental towers

By Dana Schulz

It's been three years since Long Island City's beloved graffiti mecca 5Pointz was whitewashed overnight and a year and a half since renderings first surfaced of the bland 41- and 47-story rental towers that would replace the site at 22-44 Jackson Avenue. Despite a perceived lack of respect towards the artistic community, G&M Realty’s David Wolkoff eventually said he planned to set aside 20 artists’ studios and displays to make up for those lost at 5Pointz, and it looks like he's making good on his word. HTO Architect, who designed the towers, initially put forth views of a large public park and rotating mural exhibit that would fill the space between the buildings, and now 6sqft has uncovered renderings from Mojo Stumer of the artsy entryway, lobby and pool, which reveal the graffiti-inspired logo for the project.
See it all right here

December 20, 2016

Late fashion designer L’Wren Scott’s Chelsea ‘Sky Garage’ apartment sells for $6.5 million

By Michelle Cohen

The Chelsea apartment that had been the home of late fashion designer L’Wren Scott has sold for $6.5 million according to public records. The 3,328-square-foot duplex at the Annabelle Selldorf-designed 200 Eleventh Avenue was listed earlier this year for $8.25 million after Scott’s tragic suicide shocked the fashion world in 2014 (h/t New York Post). Scott, who was Mick Jagger's longtime girlfriend, had purchased the home in 2010 for 5.6 million. The apartment was one of the building's famed Sky Garage units with a car elevator leading to a private 337 square-foot garage adjacent to the apartment.
Celebrity neighbors and a Sky Garage

December 19, 2016

Louis C.K. drops $2.45M on another Greenwich Village apartment

By Annie Doge

Comedian Louis C.K. (real name Louis Székely) already owns four units in a West Village brownstone, but these were joint purchases with his ex-wife, painter Alix Baily. Though they openly maintain a good relationship, he's now ventured out on his own, as the Observer reports that he dropped $2.45 million on a two-bedroom co-op at 101 West 12th Street, a larger apartment building a few blocks away.
Check it out

December 16, 2016

Durst Organization pays $173.5M for LIC site once slated for tallest tower in Queens

By Diane Pham

Back in 2015, Property Markets Group and the Hakim Organization announced plans to erect the tallest tower outside of Manhattan in Long Island City at 29-37 41st Avenue. The residential building, then dubbed Queens Plaza Park, would rise 914 feet atop a Queens Plaza site and boast high-end condos and a projected $363.2 million sellout. However, in July 2016, the developers abandoned those plans, putting the site up for sale for an undisclosed amount. Now, as the Times reports, the Durst Organization has scooped up the site for $173.5 million and is considering going forward with the massive construction, but as a rental tower with more than 1 million square feet.
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December 15, 2016

Are concessions and a high vacancy rate a sign the rental bubble will burst?

By Michelle Cohen

In the past year or so, there has been no shortage of talk about inventory glut, flat rental prices and bursting bubbles; Now, Slate blogger Henry Grabar has rustled up some numbers and real-life examples to go with the chatter, and we're guessing they weren't too hard to find. According to Grabar, a vacancy rate at its highest since 2009 (with a staggering amount of inventory in the pipeline), and the percentage of rental price chops at a record 42 percent in October point to an impending renter's market of comparatively epic proportions.
More on the horizon, literally

Real Estate Trends

December 14, 2016

ODA’s Rheingold Brewery rental will offer 100 affordable units in Bushwick

By Dana Schulz

The day after securing a $93 construction loan, the Rabsky Group has announced that 100 out of the 500 rentals at their massive Rheingold Brewery development will be below-market rate. As Curbed notes, Bushwick residents have been advocating that the 400,000-square-foot project include affordable housing since it was first announced, spurred not only by the neighborhood's need, but the fact that Rabsky had no legal obligation to include affordable units.
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December 14, 2016

POLL: Would you spend $500K for a down payment in Manhattan?

By Dana Schulz

6sqft has previously shared data that it only makes sense to buy a home in New York City after having lived here for 18.2 years, longer than anywhere else in the nation by a long shot. When and if that time comes, Manhattanities are looking to drop an average of $500,000 for a down payment, according to a new report from Property Shark. To put this figure into perspective, the average price nationwide to buy an entire home is $300,000. And in the Manhattan luxury market, the median down payment is a whopping $3.15 million, which might explain why, according to 2014 census data, only 32% of New Yorkers owned their homes.
What would you do?

Real Estate Trends

Real Estate Trends

Christian Slater gets $1M for modest Hell’s Kitchen condo

Construction update: FXFOWLE’s Circa Central Park nears the finish line

Tower 28, Queens’ soon-to-be second-tallest residential building, gets new renderings

Eli Manning buys $8M beachfront mansion in the Hamptons

Manhattan real estate investor bought Donald Trump’s childhood home sight unseen for $1.4M

SOM reveals official rendering for American Bible Society-replacing condo-rental tower

New renderings of Court Square City View Tower, Queens’ future tallest building

Plans filed for a 21-story Coney Island ‘Dreams’ project on the boardwalk

FREE RENT: A roundup of NYC’s latest rental concessions

Mike Myers drops $14.65M on Tribeca condo at super-luxe 443 Greenwich

Ousted ‘Today’ show anchor Billy Bush finally sells Chelsea townhouse

NFL star Damon Harrison scores a $1.55M ritzy manor in northern Jersey

High-income renters on the rise in the Bronx and Queens

New renderings and details for Rafael Viñoly’s 125 Greenwich Street

From a Trump presidency to rental prices, NYC real estate experts share their 2017 predictions

$3.4M Park Slope triplex condo has a roof terrace with heavenly views

Amy Schumer finally sheds her Upper West Side walk-up penthouse

Chloe Sevigny’s glamorous $2.75M Park Slope co-op goes into contract

First look at the artsy common spaces of 5Pointz-replacing rental towers

Late fashion designer L’Wren Scott’s Chelsea ‘Sky Garage’ apartment sells for $6.5 million

Louis C.K. drops $2.45M on another Greenwich Village apartment

Durst Organization pays $173.5M for LIC site once slated for tallest tower in Queens

Are concessions and a high vacancy rate a sign the rental bubble will burst?

ODA’s Rheingold Brewery rental will offer 100 affordable units in Bushwick

POLL: Would you spend $500K for a down payment in Manhattan?

432 Park Avenue in Midtown East

Real Estate Trends

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