Real Estate Trends

First look at the interiors of Waterline Square’s trio of towers
March 28, 2017

First look at the interiors of Waterline Square’s trio of towers

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As 6sqft reported in November, a trio of glassy residential towers is rising on the five-acre waterfront site between West 59th and 61st Streets that comprises part of Riverside Center. Known as Waterline Square, the megaproject will offer a combination of condos and rentals, a Mathews Nielsen-designed park, and an impressive roster of starchitects–Richard Meier and Partners, Rafael Viñoly Architects, and Kohn Pedersen Fox Associates. CityRealty now reports that the development team has announced the trio of designers who will shape the interiors--Champalimaud, Yabu Pushelberg and Groves & Co.--which comes with a fresh set of renderings.
Check on the progress of this megaproject
World Trade Center Performing Arts Center may be delayed again
March 27, 2017

World Trade Center Performing Arts Center may be delayed again

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It's been almost 13 years since Frank Gehry initially designed the Performing Arts Center at the World Trade Center (PACWTC). After his plans got shelved in late 2014 due to fundraising issues and construction delays on the transit hub below, it seemed like the last vacant site at the complex would forever remain that way. That is until this past fall when a $75 million gift from billionaire businessman and philanthropist Ronald O. Perelman brought the $243 million project back to life and made it possible to proceed with new designs. Despite this new optimism, it looks like the Center will be delayed yet again, as Crain's reports that unresolved issues between the Lower Manhattan Development Corp. and the Port Authority are setting things behind schedule, which could cost the project $100 million in federal funds.
Get the full scoop
FREE RENT: This week’s roundup of NYC’s rental concessions
March 24, 2017

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

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Upper West Side Beaux Arts Beauty ‘The Willard’ Offering Two Months Free, 1-Bedrooms From $2,996/Month [link] Live at LIC’s Hayden: These Majestic Skyline Views Could be Yours from $2,284/Month [link] Grand Opening of 845 Grand Street in East Williamsburg, 1-Bedrooms From $2,675/Month [link] Chelsea Leasing Special: $1,000 Security Deposits at 32-Story 777 Sixth Avenue [link] […]

Iconic ballet dancer Mikhail Baryshnikov buys Harlem condo for $1.4 million
March 23, 2017

Iconic ballet dancer Mikhail Baryshnikov buys Harlem condo for $1.4 million

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Mikhail Baryshnikov, who fled the Soviet Union in 1974 and landed in Canada is today considered one of the greatest ballet dancers in history (closer to home, he also starred in "Sex and the City" as Sarah Jessica Parker's penultimate love interest). Nearly six years ago, he and his wife, former ballerina Lisa Rinehart, relocated to Harlem from the posh upstate enclave Snedens Landing, and they're clearly happy with this move, as they also recently bought a $1.4 million condo at the Strathmore, located at 1890 Adam Clayton Powell Boulevard (h/t NY Post). Their new prewar abode, originally listed for $1.32 million, boasts three bedrooms, a cozy layout, and high ceilings.
Find out more here
FREE RENT: This week’s roundup of NYC’s rental concessions
March 17, 2017

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

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Sutton Place High Rise Re-Introduced as Oriana Launches Leasing with Two Months Free [link] Downtown Rentals at 90W in the Financial District Offer Up to 2 Months Free [link] Spring 2017 Leasing Announced for DUMBO’s 181 Front Street, Website Launches with New Photos [link] LIC Rental ‘The Independent’ Offers Two Months Free with 14-Month Lease […]

Gwyneth Paltrow’s Tribeca penthouse finally finds a buyer
March 17, 2017

Gwyneth Paltrow’s Tribeca penthouse finally finds a buyer

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Last month's price chop and new listing photos certainly did the trick--Gwyneth Paltrow and ex-husband Chris Martin have finally found a buyer for their Tribeca penthouse at 416 Washington Street. The consciously uncoupled pair bought the apartment as a pied-a-terre in 2007 for $5.1 million, but after going their separate ways, listed it last March for $14.25 million. Gwynie then reduced the price to $12.85 million in November and again to $9,995,000 last month. Now, Mansion Global reports that it's gone into contract, though until it hits public records there's no word on who the lucky buyer is and whether or not they'll retain the "ethereal" interiors and fuzzy nap zones.
See the whole spread
Huge Whole Foods coming to Brookfield’s Manhattan West
March 16, 2017

Huge Whole Foods coming to Brookfield’s Manhattan West

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Along with its glassy towers on the rise and big-name corporations leasing office space, the Hudson Yards district is now displaying another show of how the mega-development is pushing the once-desolate Midtown West area forward--the announcement of a 60,000-square-foot Whole Foods. The green grocer will move into Brookfield Property's eight-acre Manhattan West complex, located at 5 Manhattan West on the corner of 10th Avenue and West 31st Street, directly across from Related's Hudson Yards. Echoing the sentiment of the "Whole Foods effect"--the pattern of real estate values increasing when high-end grocery stores open nearby, both due to convenience and prestige--a press release from the developer says the news "is a significant first step in creating a first-of-its-kind global retail hub at Manhattan West."
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Marilyn Monroe and Arthur Miller were neighbors, but this $5M Sutton Place condo is glamorous on its own
March 14, 2017

Marilyn Monroe and Arthur Miller were neighbors, but this $5M Sutton Place condo is glamorous on its own

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Celebrity connections get our attention, especially when the celebrities are as fascinating as Marilyn Monroe and husband Arthur Miller, who shared an elevator landing with this beautifully renovated apartment at 444 East 57th Street. As 6sft previously wrote, the pair's Sutton Place penthouse, on the market last June for $6.75M, "was home to a star-studded list of 20th century residents, topped by the tempestuous Monroe and Miller when the latter was writing “The Misfits” (1961), the last play in which the troubled star would appear," and of terraces that "witnessed glittering parties that drew luminaries of the day from Cary Grant to the Duke and Duchess of Windsor." The elegance that brought them to this legendary 1927 white glove building is very much in evidence in this four-bedroom home spanning nearly 3,000 square feet.
Have a look inside
FREE RENT: This week’s roundup of NYC’s mountain of rental concessions
March 10, 2017

FREE RENT: This week’s roundup of NYC’s mountain of rental concessions

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Brookfield Launches Leasing at The Eugene with One Month Free; Sole Residential Building in Manhattan West is Now Midtown’s Tallest Rental [link] Leasing Launches at Hayden; Studios Starting from $2,281 with One Month Free [link] Leasing Launches for Phase One of Journal Squared; Live in 53-Story Tower for $1,855/Month [link] Avalon Brooklyn Bay Prepares for […]

First look at the undulating outdoor decks and pools at CetraRuddy’s Midtown West rental tower
March 10, 2017

First look at the undulating outdoor decks and pools at CetraRuddy’s Midtown West rental tower

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Algin Management's 700-foot-tall Midtown West rental tower recently reached 35 stories of its total 62-story height and now its lower floors are receiving their "sexy facade of curved glass and aluminum panels," according to CityRealty. Located at 242 West 53rd Street (the former site of Roseland Ballroom), the building was designed by CetraRuddy, who said their curvaceous silhouette was imagined as "a contextual sculpture surrounded by space, creating apartments that captured the views on all sides." These curving forms are mimicked on the multi-level deck from Terrain Work, who have just shared renderings of these undulating outdoor spaces, including the open-air swimming pool, rock garden that doubles as a rainwater collection source, and multiple gardens and patio areas.
More details and all the renderings
At $31B, Airbnb now second most valuable private company behind Uber
March 10, 2017

At $31B, Airbnb now second most valuable private company behind Uber

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After raising an additional $1 billion in a financing round that began last summer, Airbnb, the short-term stay rental company, is now listed as the second most valuable private company in the United States, following Uber, the ride-hailing business, as the New York Times reported. Airbnb, based in San Francisco, has raised more than $3 billion and secured a $1 billion line of credit since the company was founded in 2008. It is now worth nearly $31 billion dollars.
Find out more here
New rendering for the Sheepshead Bay condo that’s the tallest residential building in South Brooklyn
March 8, 2017

New rendering for the Sheepshead Bay condo that’s the tallest residential building in South Brooklyn

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As 6sqft noted just over a year ago when the project was first revealed, a 331-foot tower isn't even news in Manhattan or much of western Brooklyn and Queens, but "in the once-sleepy waterfront community of Sheepshead Bay" it's quite the headline maker. The 30-story building from Perkins Eastman Architects will, in fact, be the tallest residential building in South Brooklyn. Just last week, developer AvalonBay Communities launched a new website with info on the project's rental component Avalon Brooklyn Bay, and now, Muss Development, who's behind the condo portion known as 1 Brooklyn Bay Condominiums, has revealed details on these 56 luxury, high-rise units, as well as a brand new rendering of the glassy behemoth and how it's set to dwarf its surroundings.
Find out more
Mapping America’s affordable housing shortage
March 8, 2017

Mapping America’s affordable housing shortage

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Extremely low-income renters face a shortage of affordable housing in every single state and major metropolitan area in the United States, a deficiency of 3.9 million units, according to a report (h/t CityLab) by the National Low Income Housing Coalition (NLIHC). Nationwide, only about 35 affordable housing units exist per 100 extremely low-income homes, labeled as ELI households, and in the New York metro area (as defined by New York-Newark-Jersey City) the results are just as grim with only 32 units available per 100 households at or above the ELI threshold.
find out more here
Waldorf Astoria’s iconic interiors officially made a New York City landmark
March 7, 2017

Waldorf Astoria’s iconic interiors officially made a New York City landmark

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In news that will come as a surprise to no one, the Landmarks Preservation Commission voted unanimously this morning to designate the interiors of the famed Waldorf Astoria a New York City landmark. According to Curbed, the decision was made within minutes without hesitation from any of the board members. The announcement also comes hot on the heels of the hotel's closure just one week ago, as its new owners, Anbang Insurance Group, undertake what's expected to be a three-year renovation and conversion that will bring forth 840 updated hotel rooms and 321 luxury condos.
more details here
FREE RENT: It’s all about the views in this week’s roundup of NYC’s rental concessions
March 3, 2017

FREE RENT: It’s all about the views in this week’s roundup of NYC’s rental concessions

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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 […]

‘One57 of assisted living’ moves forward, developers file plans with DOB
March 3, 2017

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

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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
$10.6M Pierhouse is Brooklyn’s most expensive condo sold to date
March 3, 2017

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

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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
Emmy Rossum bids farewell to her beautiful Sutton Place pied-à-terre
March 1, 2017

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

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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
Neil Patrick Harris drops $5.5M on East Hamptons’ notorious ‘orgy estate’
March 1, 2017

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

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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
Report says having a roommate can save a New York millennial $728/month
March 1, 2017

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

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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
City’s most expensive rental is back for $500K/month, chauffeur-driven Jaguar included
February 28, 2017

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

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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

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

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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 […]

Glamorous modern condo inside a historic Bed-Stuy townhouse asks $855K
February 24, 2017

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

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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
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