Real Estate Trends

Live in SHoP’s American Copper Buildings from $2,975/Mo; Read Carter’s New Review [link] Behold the Views (Present & Future) from Midtown’s 555TEN, Now Leasing with Two Months Free Rent [link] Leasing Begins at Jersey City Urby, Vertical Community + Stunning Views from $2,000/Month [link] Take In the Incredible Views at 1 QPS Tower; LIC’s Newly-Opened […]

March 3, 2017

‘One57 of assisted living’ moves forward, developers file plans with DOB

The market for ultra-luxury condos may be cooling down, but developers appear to be much more optimistic about posh senior housing. Last year, 6sqft reported that Welltower Inc., the country’s largest senior housing owner by market value, had teamed up with Hines to develop the “One57 of Assisted Living,” an upscale facility at 56th Street and Lexington Avenue boasting $20,000/month rents. Now, it appears that the project is moving forward as Curbed tells us plans have been filed with the DOB to start construction.
additional details this way

March 3, 2017

$10.6M Pierhouse is Brooklyn’s most expensive condo sold to date

It may pale in comparison to Manhattan's $100 million record-setter at One57, but a unit at Brooklyn Bridge Park's Pierhouse just closed for $10,669,579, setting the record for most expensive condo ever sold in the borough. Curbed first spotted the sale, which took the top spot from the $8.8 million penthouse sale in Dumbo's 1 Jay Street in September 2015.
Find out who the buyers are

Real Estate Trends

March 1, 2017

Emmy Rossum bids farewell to her beautiful Sutton Place pied-à-terre

By Jon Dioffa

Actress Emmy Rossum's perfectly outfitted pied à terre has a new owner. LLNYC reports that a buyer has just scooped up the "Shameless" star's one-bedroom charmer at 455 East 57th Street for $1.1 million. Rossum quietly listed the home last November, just a month after she invited Elle Decor over to photograph the space. The full spread shares Rossum's journey of turning the "pied-à-teardown" into an elegant escape with the help of Brooklyn interior designer Antonino Buzzetta. According to Elle, Rossum asked Buzzetta for something "chic, European, the look of a modern girl who has inherited her grandmother's stuff." "I wanted it to have a young energy, but with old-fashioned touches," she said.
see more inside here

March 1, 2017

Neil Patrick Harris drops $5.5M on East Hamptons’ notorious ‘orgy estate’

By Annie Doge

As far as we know, family-man Neil Patrick Harris doesn't partake in the swinger lifestyle, so he'll likely have to do a bit of updating (and perhaps, cleaning) at his new East Hampton home--the notorious "orgy estate" where an elite sex club hosted an over-the-top event this past summer. The Post reports that Harris and hubby David Burtka dropped $5.5 million on the sprawling estate, which sits on 13.5 acres of open meadows and gardens and boasts a tennis court, pool and pool house, renovated barn, and beachy 5,500-square-foot main home.
Check it out

March 1, 2017

Report says having a roommate can save a New York millennial $728/month

We tend to think of New York as a hub for millennials living paycheck to paycheck, hindered by a higher-than-average cost of living coupled with their average yearly salary of $64,000. But young professionals are struggling throughout the nation. A new report detailed in the Washington Post looked at 25 major cities across the U.S. and found that in nearly half of these locales, "a millennial living alone in a one-bedroom apartment would need to spend more than 30 percent of his or her income on rent — surpassing the threshold for what financial experts say is affordable." The solution, though, could be to get a roommate. Take New York, where millennials spend about 34 percent of their income on rent. By shacking up with a buddy, they can save $728 a month, or 14 percent of their income.
READ MORE

Real Estate Trends

February 28, 2017

City’s most expensive rental is back for $500K/month, chauffeur-driven Jaguar included

By Michelle Cohen

As 6sqft asked when the 39th floor at The Pierre Hotel at 795 Fifth Avenue hit the rental market two years ago, if you’ve got the cash, why buy when you can rent for $6 million a year? Now that opportunity to refresh your enormous outlay every month is again seeking a renter at $500,000/month, keeping its title as the city’s most expensive rental. The massive 4,786-square-foot space has merely a butler’s kitchen, but the assumption is, of course, that you wouldn't want to be slaving over a hot stove in a full-service hotel anyway. And that service includes twice-daily maid service, an on-call physician, room service, two restaurants and a chauffeur-driven Jaguar.
See what this hefty price tag gets you

February 24, 2017

Plans for SHoP’s 10-story wooden condo tower squashed

SHoP's proposed wooden tower has gotten the axe, reports The Real Deal. The wood high-rise which was slated to rise along 18th Street in Chelsea has been scrapped, as a downturn in the market has forced developer Sy Ghassemi to change course.
READ MORE

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

FiDi’s 180 Water Street Announces March Opening; Now Leasing No Fee Rentals + One Month Free [link] Renovated Apartments at Stonehenge Tower on Upper West Side Leasing with Two Months Free + $1,000 Security Deposits [link] Renovated Apartments in Prospect Heights Offer One Month of Free Rent with 14-Month Leases [link] Amenity-Packed QLIC Offering One […]

Real Estate Trends

February 24, 2017

Glamorous modern condo inside a historic Bed-Stuy townhouse asks $855K

By Emily Nonko

Talk about an apartment with good bones. This modern condo was carved from the historic four-story townhouse at 347 Gates Avenue, in Bedford-Stuyvesant. The condo conversion brought sleek finishes to each floor-through apartment, and this one on the third floor is now asking $855,000. It is located on a block of Bed-Stuy lined with picturesque townhouses, just a half block from the main drag of Bedford Avenue and close to the A/C trains on the Nostrand stop.
See more of the apartment

February 21, 2017

Astoria is NYC’s top ‘hood for millennials seeking roommates

Roommate app Roomi recently compiled data based on the 20 to 36-year-olds searching for someone with whom to split the rent, and the top neighborhood for this trend is Astoria. DNAinfo shared the analysis, which found that nearly 38 percent of Roomi's users looked for housing in the up-and-coming Queens 'hood, and each applicant in this area gets about 20 applicants, almost double all other neighborhoods.
What other 'hoods top the list?

Real Estate Trends

February 17, 2017

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

HOUSE39 Launches Leasing; New Curving Glass Tower Offers Two Months Free of Early Occupancy [link] Teaser Site Launches for Newly-Dubbed Hudson Yards Rental, ‘Henry Hall’ [link] Listings Debut at Hub with One Month Free; Apartments in Brooklyn’s Tallest Tower from $2,450/Month [link] FiDi’s 180 Water Street Announces March Opening; Now Leasing No Fee Rentals + […]

Real Estate Trends

Hamptons home prices sag as luxury buyers head to hipper Hudson Valley

Image: Hudson Woods by Drew Lang

February 14, 2017

Hamptons home prices sag as luxury buyers head to hipper Hudson Valley

By Michelle Cohen

The megawatt real estate of the Hamptons may be suffering from shrinkage as a new generation of glitterati increasingly chooses the rustic charm of upstate New York instead. Business Insider reports a surge in the popularity of second homes and tourist activity in Hudson Valley and Catskills towns—and a corresponding dip in Hamptons home prices—in 2016.
Is Upstate the new East End?

February 13, 2017

Starbucks CEO Howard Schultz drops $40M on the Greenwich Lane’s most expensive penthouse

By Annie Doge

It's safe to say this $40 million penthouse is of the "venti" size, considering it's the priciest unit in new mega-development the Greenwich Lane and, at $7,159/square foot, one of the most expensive residential sales in Greenwich Village to date. Though The Real Deal reports that the buyer is Starbucks CEO Howard Schultz, whose estimated $3 billion net worth makes this a drop in the bucket. The 5,587-square-foot duplex spans the 16th and 17th floors and boasts floor-to-ceiling windows with skyline views and more than 1,600 square feet of private outdoor space.
READ MORE

February 13, 2017

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

More Amenities Unveiled at Extell’s Midtown Rental 555Ten; Leasing Continues with Free Rent Offer [link] Stonehenge Offering Two Months Free + $1,000 Security Deposits at 101W15 in Chelsea [link] Long Island City’s 1QPS Tower Launches Leasing with Two Months Free; Studios from $1,989/Month [link] 100 West 143rd Street Offering One Month of Free Rent on […]

Real Estate Trends

Construction Update: Greenpoint’s first skyscraper tops off

Rendering: Neoscape; Construction photo: Will Femia

February 10, 2017

Construction Update: Greenpoint’s first skyscraper tops off

Greenpoint's new waterfront skyline is quickly taking shape, as CityRealty reports the neighborhood's first skyscraper has just topped off. The tower, measuring 400 feet, will be Greenpoint's tallest, stretching 39 stories above the characteristically low-slung neighborhood now dominated by squat residential buildings and warehouses. With a somewhat uninspired name, The Greenpoint (as it will be known) will bring 95 high-end condos and 287 rental apartments to a block-long stretch of the area.
more details here

February 10, 2017

NYC’s top 10 wealthiest ZIP codes will surprise you

There's no argument that Tribeca is home to the priciest real estate in all of New York City, but when it comes to wealth as measured by median net worth and household income, its residents don't even register in the top 10. A new study by ESRI conducted for the NY Business Journal reveals that 11363—or Little Neck, Queens (where Governor Cuomo once owned a mansion, to give you and idea)—is, in fact, New York's richest ZIP code. Here, the median household income clocks in at an impressive $94,192 with median net worth reaching $326,104.
the surprising results here

February 9, 2017

Proposed East Harlem mixed-use development may contain city’s tallest building with affordable housing

Looking to take advantage of the newly opened Second Avenue Subway stop at 96th Street, the New York City Educational Construction Fund and AvalonBay Communities are working their way through the city approval process to build a 1.14 million-square foot, full-block, mixed-use development in East Harlem. CityRealty tells us that the project located at 321 East 96th Street would hold two new school buildings for three different local schools, 20,000 square feet of retail space, a rebuilt playground, and a 68-story, 760-foot residential tower that would offer between 1,100 and 1,200 units and possibly become the city's tallest building to contain affordable housing (roughly 330 below-market rate units).
More details and renderings

February 8, 2017

Mike Myers’ $15M Tribeca loft finds a buyer just a month after he bought it

By Annie Doge

"It's freedom, baby, yeah!" At least from his Tribeca apartment. Mike Myers bought a $14.65 million loft in 443 Greenwich Street at the beginning of the year, but clearly had sudden a change of heart, re-listing it just a week later for the slightly higher price of $15 million. And now, only a month after purchasing the pad, it's gone into contract, according to LL NYC. Now if only he could so easily unload his $15.95 million Mercer Street penthouse.
more views inside here

February 8, 2017

$8.8M Flatiron duplex boasts customized features, from a floating staircase to millwork closets

By Emily Nonko

An intensive re-design of this massive, lofty condo at 10 East 22nd Street, in Flatiron, left the 4,000-square-foot interior with tons of customized details. Asking $8.8 million, the duplex apartment boasts a grand living room with 17-foot-tall wood beam ceilings, a customized kitchen, crazy closet space, and a dramatic floating staircase. Best yet, a "terrace oasis" off the main floor comes with views of the Flatiron Building.
Take a look

February 6, 2017

BKSK Architects share new renderings of artsy, boutique Noho condo 22 Bond

It's been a long time since Noho went from a creative warehouse district, home to the likes of Basquiat and Warhol, to a trendy enclave full of multi million-dollar lofts and Michelin-starred restaurants, but the 'hood has seen a recent influx of new boutique residential buildings, specifically 22 Bond, which may be the overall embodiment of the area. The 11-story condo offers only six units that begin at $9.8 million, but BKSK Architects' purposeful inclusion of large-scale art, both in the lobby and on the building itself, keep the neighborhood's creative history in play. The project has now launched its official page, which bring us new looks at its facades, art work, and interiors.
All the renderings and details ahead

February 6, 2017

What a teen wants: 7 NYC teenagers on their dream apartment building

For many years, New York developers have been working to design family-friendly buildings. As a result, it is now common for new buildings to include playrooms and wading pools. Okay, but what about teens? While buyers often spend considerable time searching for baby- and child-friendly apartments, teenagers’ needs have historically been overlooked. But this doesn’t […]

Real Estate Trends

February 6, 2017

Construction update: Domino Sugar Factory tower tops off and gets its skybridge