real estate trends

Featured Story

Features, Major Developments, real estate trends

nyc the golden age of related companies

Founded in 1972 by former tax attorney Stephen Ross, the Related Companies got its start securing funding for affordable housing upstate. Before long, the company moved to New York City, bringing affordable units to Battery Park City and the Upper East Side. When the boom years of the 1990’s hit, Related got involved with luxury development, beginning with the renovation and conversion of an historic Beaux Arts building at Union Square into the W Hotel and then the development of 1 Union Square South.

Today, the Related name is attached to some of today’s biggest and most high profile projects, including One Madison and Hudson Yards. And with more than $15 billion in assets, the company is New York’s leading real estate developer.

We take a closer look at Related’s high-end portfolio

Brooklyn, Clinton Hill, Historic Homes, real estate trends

102 Gates, Brownstone, Townhouse, Renovation, Flip, Clinton Hill, Brooklyn, Real estate

In January of 2013, in the dead of winter, an 1899 detail-laden Italianate townhouse fixer-upper at 102 Gates Avenue hit an inventory-starved rising market. The listing price of $1.295 million, was a double-take for many, even though it was less than what properties like it were selling for in the area.

Fast forward to September 2014, where renovations, which commenced almost immediately after the sale, are nearing completion (and according to reports, they’ve been done right). Word is that the house is about to head back to the market—at more than twice its winter selling price.

Find out why 375 people waited in the cold for the first open house

Featured Story

Cool Listings, Features, Manhattan, real estate trends

nyc luxury penthouse, million dollar listing, penthouse perfection

The penthouse craze began in the early 20th century thanks to media tycoon William Randolph Hearst. He took up residence in a three-floor apartment at the Clarendon at 137 Riverside Drive and, when his landlord refused to let him expand further, Hearst bought the entire building, adding two new floors to the top of his mansion, crowned by a new copper mansard roof.

Now, 100 years later, the rich and famous are still making headlines with their pricey penthouse purchases. Fellow media mogul Rupert Murdoch recently purchased a $57.25 million triplex penthouse, along with an additional full-floor unit (because why stop at just three?) at One Madison. His bachelor pad totals more than 10,000 square feet of interior space, wrapped in floor-to-ceiling glass. Is this the new standard for penthouse living? We’re taking a look at some of the top sky-high listings in Manhattan to find out.

Don’t miss these incredible penthouse stunners

Policy, real estate trends

glass windows, Standard High Line

When we talk about apartments in glassy towers we always emphasize the stunning views, ample natural light, and cross ventilation. But according to a study from the Urban Green Council, most residents in these all-glass buildings are not taking advantage of those attributes.

The “Seduced by the View” study surveyed 55 glassy buildings around New York City and found that on average, 59% of the window area was covered by blinds or shades. And over 75% of buildings had more than half of their window area covered. Results were similar regardless of time of day, direction the window faced, and whether the building was commercial or residential.”

More on the study here

Featured Story

Features, Madison Square, real estate trends, Starchitecture

One Madison: A Modern Marvel on Madison Square

By Dana Schulz, Thu, August 28, 2014

One Madison , One Madison Triple Penthouse

When it comes to New York City real estate, many people liken fluctuating prices to the chicken-or-egg phenomenon: does a building transform a neighborhood or does construction follow the most up-and-coming areas?

In the case of One Madison, the super sleek 60-story, high-rise tower that is home to a media mogul, a supermodel, and star quarterback, gentrification had already taken hold in the larger NoMad area when construction began on the building in 2006.

Take a look at the towering building and how it became one of the city’s top-sellers

Brooklyn, real estate trends

777 Carroll Street Brooklyn, 777 Carroll Street, Brooklyn brownstone

For all of you who’ve stared down a four-story brownstone and wondered “What family needs all that space?”, the answer appears to be not many. According to the folks over at Douglas Elliman, more and more owners of Brooklyn brownstones are carving their homes into multiple condos for resale. The piecemeal move they say not only manages to bring in more bucks than an individual sale, but also welcomes more housing without compromising the integrity of a neighborhood—i.e. they help keep tall, glass towers at bay.

More on the trend here

Gramercy Park, real estate trends, Stuyvesant Town

Stuyvesant Square Park, Stuyvesant Square, NYC parks

That’s right–Stuyvesant Square is its own neighborhood. Haven’t heard of it? That may be because you’ve been confusing it with neighboring Gramercy Park or Stuyvesant Town. But in fact, this charming little neighborhood is a highly desirable enclave in its own right.

Situated around Stuyvesant Square Park, the area is bound roughly by 14th and 18th Streets and First and Third Avenues. It could be considered the southeastern corner of Gramercy Park or an extension of planned development Stuyvesant Town, but some real estate professionals like the exclusivity that the lesser-known moniker offers. Others have come up with creative alternatives like “Gramercy Park on Stuyvesant Square.” But regardless of what you call it, Stuyvesant Square has a unique blend of limited space, historic landmarks, and mixed uses that makes for a bustling New York City neighborhood.

More on Stuyvesant Square here

Featured Story

Architecture, Features, real estate trends, Starchitecture

cesar pelli, Pelli Clarke Pelli

Growing up just west of the Andes Mountains in the small town of Tucumán in northwest Argentina, Cesar Pelli wasn’t exposed to the vibrant cityscapes that he today helps to shape. He got his start designing low-cost, affordable housing for the Argentine government, which helped him develop an appreciation for each project’s unique sense of place. Breaking from the traditional mold of many world-famous architects, he designed buildings as a response to their neighborhoods, not as a preconceived signature aesthetic.

Now, with a long list of acclaimed international projects to his name, Pelli is lauded for creating structures that honor a city’s history and enrich the local landscape. And here in New York City, home to some of his most celebrated works, the Pelli mark has making an indelible impression on the architecture and real estate fields.

We dive deeper into Cesar Pelli’s past, present, and future

Manhattan, real estate trends, Recent Sales

condos sales manhattan july

Though everything seems to slow to a glacial pace during the summertime months, a sluggish market wasn’t the case for condo sales the week of July 14th. Buyers steadily scooped up prime properties with the city so far recording 249 condo and co-op sales. Manhattan’s biggest buys came via the usual suspects—Flatiron’s One Madison, and uptown faves Carnegie Hill and the Arpthorp—with deals ranging from $10.1 million up to $14.5 million.

According to CityRealty‘s Market Insight report, although the city’s top exchanges registered above 23rd Street, when eyeing contracts closed over the last 90 days, it looks like Downtown Manhattan reigned supreme when it came to the highest number of units sold (337), and the top prices garnered per square foot ($2,077 and $2,047 in the West Village and Soho, respectively). Overall, the area recorded an impressive $1 billion in total sales over the last three months.

All the details in graph form here

Featured Story

Features, Major Developments, New Developments, real estate trends, Starchitecture

the plaza hotel entrance, the plaza hotel curb

Great neighborhood? Check. Great apartment? Check. Curb appeal?

Killer first impressions can be long lasting — and whether it’s a newly advertised flavor of Ben & Jerry’s, an ad for Tory Burch’s latest shoe collection —or finding new digs, “love at first sight” spot-on marketing moments play a sizeable role in how we make our decisions.

Industry experts note that a large percentage of a house hunter’s decision to explore a property further than the curb is based the project’s “wow” factor. Truth is, it sets the “perception” stage of what’s to come beyond a grand entrance or swanky lobby that was designed to provide a sense of arrival and belonging. Obviously, at the end of the day, a building’s outside will only persuade potential buyers to see more, and first impressions can vary from one individual to the next, but the “I was meant to live here” moment is fairly universal.

How a building’s design tugs at your desire to ‘be someone’

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