Real Estate Trends

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

By Dana Schulz

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

By Diane Pham

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

By Dana Schulz

Things are moving ahead swiftly at the Domino Sugar Factory since Two Trees broke ground at the three million-square-foot Williamsburg mega-development last spring. In November, the lottery opened for 104 affordable units at 325 Kent Avenue, the first building at the site. Designed by SHoP Architects, who are also responsible for the project's entire master plan, the $200 million tower has now topped off at 16 stories, and the skybridge connecting its two wings has also gone up. CityRealty paid a visit to the construction site and got a look at these new views, as well as the copper cladding that's taken shape on the lower face of the building.
See it all here

February 4, 2017

Interview: Daniel Kohs of SYNTHESIS on designing a brand-new Carnegie Hill mansion

By 6sqft

Developer and architect Daniel Kohs isn’t one of New York’s heavyweight developers. He’s not one to pursue glossy, big-ticket skyscrapers containing thousands of square feet of ubiquitous space. It’s not that there’s anything wrong with that, it’s just that there’s a lot to be gained from “transformation.” Best yet, preserving the integrity and culture of […]

February 3, 2017

Samantha Bee gets ‘Full Frontal’ with new $3.7M Riverside Drive co-op

By Annie Doge

Now that political commentator Samantha Bee is into her second season hosting "Full Frontal" it looks like she wants to put down some permanent roots near the show's west side studio at CBS. According to city records, she and her husband, fellow comedian Jason Jones, dropped $3.7 million on a somewhat basic Riverside Drive co-op.
Check it out

February 3, 2017

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

By Ondel Hylton

Co-Living Rental ‘Common Baltic‘ Makes its Debut, Offers Leases with One Month of Free Rent [link] An Astounding Four Months of Free Rent with Two-Year Leases at Brooklyn Rental, The Williams [link] Live in Downtown Art Deco High Rise with Two Months of Free Rent; Studios Starting from $2,775 [link] Hoboken Rental, The Rivington, Offers […]

Real Estate Trends

Construction update: Tishman Speyer’s trio of Long Island City rental towers

View of residential towers from Queens Plaza as of last week, via CityRealty

February 2, 2017

Construction update: Tishman Speyer’s trio of Long Island City rental towers

By Dana Schulz

Of the 30+ under-construction and proposed projects in Long Island City, many of the tallest and bulkiest are located near Queens Plaza, including this trio of slab-glass rental towers from Tishman Speyer and H&R Real Estate Investment Trust that will bring nearly 1,800 new apartments to the area. The residential buildings--located at 28-34 Jackson Avenue, 28-10 Jackson Avenue and 30-02 Queens Boulevard--are directly adjacent to Tishman's two-towered commercial venture that will be home to WeWork, Macy's, and a food hall. CityRealty recently stopped by the construction to see how things are shaping up at the rentals, which from the looks of it are well on their way to welcoming in LIC's newest batch of residents.
Find out more this way

Extell reveals renderings of new Central Park West condo tower

By Dana Schulz

Though Extell is best known for sky-high mega-developments like One57, the Central Park Tower, and One Manhattan Square, they've also been taking on some slightly smaller residential projects, gobbling up swaths of real estate in the upper Midtown area. Their latest venture is a partnership with Megalith Capital Management to build a new condo tower near Central Park West. Located at 36 West 66th Street, the 292-foot, mid-block building will replace three small office buildings and the synagogue of Congregation Habonim. The latter will be incorporated into the new design, for which CityRealty has uncovered the first rendering and updated details.
READ MORE

February 1, 2017

Lendlease-Turner selected as design-build team for $1.5B Javits Center expansion

By Michelle Cohen

A Lendlease-Turner Construction partnership has been chosen to coordinate and build the planned 1.2 million-square-foot expansion of the Jacob K. Javits Convention Center on Manhattan's far west side. Commercial Observer reports that the New York Convention Center Development Corporation, the entity that controls the state-owned venue, announced Tuesday that they had approved the team for the project, which is expected to cost $1.55 billion. Atlanta-based architecture firm tvsdesign is also part of the Lendlease-Turner consortium. According to the announcement, the winning proposal offered, "significant design, logistical and operational benefits, including increased atrium space, integrated public and support spaces and a commitment to maintaining current operations during all phases of construction."
Find out more and see new renderings

Real Estate Trends

January 31, 2017

Extell buying former Carnegie Deli site

By Dana Schulz

Yesterday, workers removed the iconic neon sign outside Carnegie Deli, but the final nail in the coffin comes from the news that mega-developer Extell is buying the pastrami mecca's former home on a block where they already own two other sites. The Post got word that Gary Barnett's firm will close on a deal as soon as today for the six-story building at 854 Seventh Avenue. The 79-year-old deli closed on December 31st, but in 2015, Extell paid $9.1 million to owner Marian Harper Levine for their air rights.
Find out more

Real Estate Trends

January 30, 2017

With Ben Carson as HUD Secretary, how will NYC housing and development be affected?

By Cait Etherington

Dr. Ben Carson, a retired neurosurgeon and failed Republican nominee, has now been cleared to serve as Secretary of Housing for the next four years. For many, his appointment remains perplexing. Carson has no political experience and no obvious knowledge of housing and development issues. At least some concerns about Carson’s fitness for the job […]

Karim Rashid’s East Harlem HAP Five gets its bright pink trim

Final rendering of HAP FIVE (l), Construction progress as of January 27; CityRealty

January 30, 2017

Karim Rashid’s East Harlem HAP Five gets its bright pink trim

By Michelle Cohen

Construction is progressing at the very Karim Rashid-esque HAP Five residential project at 329 Pleasant Avenue in East Harlem, CityRealty reports. The building's frame has been enclosed in glass and its balconies are getting the hot-pink trim chosen by neighborhood residents after a bolder color scheme was nixed. HAP Investment Developers has specified that the project will be rental apartments instead of condos; the 21,500-square-foot, eight-story new project will offer 20 apartments including studios and one- and two-bedroom units created by the award-winning designer, all of which will have open kitchens and offer access to either a balcony, terrace or backyard.
New construction photos, this way

January 27, 2017

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

By Ondel Hylton

No Security Deposit + One Month Free for Full-Floor Apartments on Lower East Side [link] Glenwood Offering Free Rent at Lincoln Square High-Rise, Hawthorn Park [link] One Month Free on All Units at Luxury High Rise LINC LIC; Studios from $2,395 [link] Now 95% Leased, 180 Franklin Avenue in Clinton Hill Offers Two Months Free […]

Real Estate Trends

January 27, 2017

SL Green says One Vanderbilt will bring in $200M a year

By Michelle Cohen

SL Green Realty CEO Marc Holliday said Thursday that the midtown office tower One Vanderbilt is expected to pull in as much as $198 million a year in net operating income when complete in 2020 and fully leased, The Real Deal reports. That figure, in 2028 dollars, likely includes $42 million in admission fees for the building's planned observation deck and is based on the assumption that the tower will be leased out at an average of $155 per square foot. If realized, that figure would put the 1.7-million-square-foot, 1,401-foot-tall tower in a league with some of the the city's significantly larger trophy properties.
Find out more

January 26, 2017

Rem Koolhaas’ Gramercy condo reveals interior renderings, launches sales

By Dana Schulz

Right before the new year, the highly anticipated condo from Toll Brothers City Living at 121 East 22nd Street in Gramercy reached its full height, providing the first real views of its glassy facade and chiseled corner that resembles a giant crystal. And what makes the structure even more special is the fact that it's the first NYC project from Pritzker Prize-winning Dutch architect Rem Koolhaas's firm the Office for Metropolitan Architecture (OMA).CityRealty now tells us that sales have officially begun, currently ranging from $1.5 million, 761-square-foot one-bedrooms to $4.7 million,2,402-square-foot three-bedrooms, and along with the launch comes the first set of interior renderings and some fresh looks at the exterior and amenity spaces.
More details and all the renderings

Are co-living communities the future of NYC real estate?

Photo: Bess Adler

January 26, 2017

Are co-living communities the future of NYC real estate?

By Metro New York

In the 1960s, groups of hippies fled from cities to live on communes in the country. Now there’s a growing movement of communal living right here in New York City. “I feel the biggest challenge in our world today is we’re not speaking to each other,” said Ryan Fix, who started 25 communal living sites […]

Real Estate Trends

January 26, 2017

Bjarke Ingels’ ‘bold yet graceful’ High Line towers get new website and flashy signage

By Michelle Cohen

When HFZ Capital Group chairman Ziel Feldman needed a bold design for what will be Chelsea's largest development in more than a decade, he knew the very-visible, block-long site wanted nothing short of an architectural icon to house the future 950,000-square-foot mix of parking, retail and office space, a 137-room Six Senses Hotels Resorts Spa and 240 condominium apartments. So it should come as no surprise that Bjarke Ingels' BIG was chosen to design what would be the firm's second Hudson River-front tower (after Via 57 West). Straddling the High Line and offering sunset river views, the two towers penned by the Danish wunderkind sit atop a four-floor base at 76 Eleventh Avenue, rising to 28 and 38 floors, respectively. CityRealty now brings us a collection of new views and a concept development slideshow of the $1.9 billion project recently published by BIG on their website.
See new images from the slideshow and some scintillating site prep

Rendering of 86 Fleet Place via Goldstein, Hill & West (L); Construction as of October 2016, via CityRealty

January 26, 2017

Live in John Catsimatidis’ curvy Downtown Brooklyn rental tower from $833/month

By Dana Schulz

Way back in 1982, the CEO and owner of Red Apple Group, John Catsimatidis (you may know him better as the billionaire owner of Gristedes or for his failed Republican run in the last mayoral election) paid $500,000 for a 2.5-acre, four-block site in Downtown Brooklyn, on the western edge of Fort Greene. Thirty-five years later, construction is wrapping up on the final, and by far the tallest, of the four-tower development. The curving glass building at 86 Fleet Place was designed by Goldstein, Hill & West and will rise 32 stories/350 feet and house 440 rentals, 29 of which are set aside as affordable and have just come online through the city's affordable housing lottery. They range from $833/month studios to $1,247/month three-bedrooms and are available for those earning 45 to 60 percent of the area media income.
Find out if you qualify here

January 25, 2017

Extell’s One Manhattan Square reaches halfway point and gets its glassy skin

By Dana Schulz

Despite the rapid influx of new development that's popping up in the controversial Two Bridges area, the Chinatown-meets-Lower East Side neighborhood's first project, One Manhattan Square, still reigns as the tallest. In fact, when it reaches its full 823-foot height, Extell's 80-story condo at 252 South Street will have the highest rooftop between downtown and Midtown Manhattan. Now that sales have commenced, CityRealty paid the construction site a visit, noticing that the double-slab tower is already more than 30 stories tall and has begun to receive its reflective glass skin.
More views ahead

January 25, 2017

Designer Zac Posen snags an elegant Upper East Side penthouse for $3.5M

By Diane Pham

Zac Posen may love taking fashion risks, but when it comes to real estate, it's all about the classics. The designer and "Project Runway" judge has just poured $3.5 million into an elegant Upper East Side penthouse, LL NYC shares. The duplex spread sits atop an Emory Roth-designed prewar at 210 East 73rd Street and comes steeped in ornate details like hand-painted ceilings, an iron staircase and a Chesney marble mantle. While the current decor is most certainly in need of a modern facelift, Posen will have plenty of space to flex his creative prowess. The penthouse is a classic six with two bedrooms, two and a half baths and a large 1,800-square-foot wrap terrace. And did we mention there are seven custom closets? Four of them are walk-in!
See more here

Construction update: Google’s Pier 57 expansion gets glassed

Pier 57 now showing some skin; Photo: CityRealty

January 24, 2017

Construction update: Google’s Pier 57 expansion gets glassed

By Michelle Cohen

Work is moving along at the waterfront development that is rehabilitating and revitalizing Pier 57, Manhattan's new "SuperPier;" newly-installed, canted glass panels can be seen along the pier’s rows of exterior columns, CityRealty reports. The $350 million transformation of the former freight terminal, a joint venture by Young Woo & Associates and RXR will include 250,000 square feet of offices for Google, a 170,000-square-foot food market curated by Anthony Bourdain and provide an elevated two-acre park with a rooftop movie and performance amphitheater. The project's design is being handled by Handel Architects and !Melk Landscape Architecture and Urban Design.
Check out new construction photos

January 23, 2017

Map: Here’s where you can afford to live in NYC in 2018

By Dana Schulz

For New York home buyers, a lot can change in a year. A neighborhood that was considered affordable can all of a sudden become out of reach, whether it be from new developments like a subway or good old fashioned gentrification. For this reason, Fast Forward Labs created an interactive map that predicts the price of real estate in 2018. As Google Maps Mania explains, "The map allows you to input a housing budget and see how likely it is that you will be able to afford to buy a property in different New York neighborhoods during different future time periods."
More on the map here

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