Real Estate Trends

A $2 million real estate loss sounds like quite the hit, but to environmental activist and actor Leonardo DiCaprio, whose net worth is $217 million, it probably won't make too big of a dent. Back in 2014, he dropped $10 million on a three-bedroom Greenwich Village condo in The Delos, an uber eco-friendly building that boasts vitamin C-infused showers, purified air and water, in-duct aromatherapy, and posture-supporting flooring. He rarely resided there (he owns another environmentally conscious apartment in Battery Park City), but has been renting the apartment for $25,000 a month since March 2015 to Bill Clinton's economic policy advisor Jonathan Orszag. Now the Observer reports that the apartment has sold to an LLC for $8 million.
See the whole spread

December 5, 2016

One Vanderbilt confirms 1,020-foot observation deck

It's been almost a year since 6sqft first heard inklings that One Vanderbilt--the city's second tallest tower--would offer a sky-high observation deck, and now that developer SL Green has secured $1.5 billion in construction financing and broken ground on the 1,401-foot supertall, they'e confirmed that the tower will, in fact, have an sky deck. Bloomberg reports that the viewing platform will be located at the 1,020-foot mark, which will make it the third-highest indoor-outdoor observatory in the city after the forthcoming 1,100-foot deck at 30 Hudson Yards and the Empire State Building's at 1,050 feet (One World Observatory is at 1,250 feet, but it's not outdoors).
Find out more

December 2, 2016

Colin Kaepernick scores $3.2 million pad in Tribeca’s luxury One York

Mansion Global reports that San Francisco 49ers quarterback Colin Kaepernick, who made national headlines and became a campaign topic when he chose not to stand during the National Anthem, dropped $3.21 million on a luxury condo at One York in Tribeca. The 29-year-old NFL player recently listed his San Jose mansion for $2.895 million, igniting rumors that he'll leave the team after this season. The sale in New York may add further fuel to the fire, but it actually closed in July through a family trust, prior to his August sit-ins.
See the apartment here

December 2, 2016

Jemima Kirke’s dad, ‘Bad Company’ Drummer Simon Kirke, buys $1.3M Gramercy co-op

English drummer Simon Kirke, of Free and Bad Company and father to "Girls" actress Jemima Kirke, sold his Hamptons beach cottage for almost $1.4 million over the summer, and it looks like he's used those earnings to buy a Manhattan home. Though he allegedly toured a $1.7 million spread at the famed Dakota in August, the Observer reports that Kirke spent of $1.3 million on a corner co-op at 201 East 17th Street in Gramercy.
READ MORE

December 2, 2016

Richard Meier’s first NYC skyscraper starts its climb above street level in Turtle Bay

Richard Meier's 685 First Avenue--the starchitect's largest and tallest building in the city to date--has begun its above-ground ascent, reports CityRealty. The 42-story, 460-foot-tall slab tower is located along the East River at 40th Street, just south of the United Nations, and has gained attention for its dark glass facade, a noticeable shift from Meier's signature beige aesthetic. Its 408 rentals and 148 condominiums are expected to be completed by early 2019, and now that construction is "craned and above street level," the project is well on its way.
More this way

December 2, 2016

State seeks proposals for massive development above South Bronx rail yard tracks

As the city's land costs rise, interest has been focused on the South Bronx, including the potential for a huge waterfront development above the MTA's Concourse Yards, as 6sqft previously reported. Now, Crains reports that Empire State Development (ESD) has invited developers to present offers for leasing or purchasing a 13-acre South Bronx rail yard along the Harlem River just north of the Willis Avenue Bridge and decking it over to build a residential or mixed-use project.
Find out more

Real Estate Trends

December 2, 2016

How 100 years of zoning has shaped New York City

By Cait Etherington

In October, city officials unveiled plans to rezone a large swath of East Harlem. The major thrust of the rezoning initiative is to bring more high-rise buildings to a corridor running several blocks along Park, Second, and Third avenues. By building up, city officials hope the neighborhood will increase its housing stock, including its affordable […]

November 30, 2016

Renderings revealed for adaptive reuse Maker Park along the Williamsburg waterfront

Plans for Bushwick Inlet Park, a 28-acre open space along an unused industrial stretch of the Williamsburg waterfront, first came about in 2005, when the Bloomberg administration rezoned the area to allow for new residential development in exchange for the open space. Fast forward to last week, and the city finally acquired the last piece of land for the project, the controversial Citistorage site. Now that the park is on its way to becoming a reality, a trio of grassroots creatives hopes to bring their alternative vision for the former Bayside Oil Depot site to the forefront. Maker Park is the proposal to adaptively reuse this seven-acre parcel's architectural infrastructure--namely the ten 50-foot decommissioned fuel containers--and create a "park as creative as the neighborhood around it." The Architect's Newspaper recently revealed the first set of renderings, which showcase performance venues, art galleries, hanging gardens, reflecting pools, and an adventure playground.
More views and design details

November 30, 2016

Designers at ArX Solutions offer their own take on a Waldorf Astoria interior renovation

The final checkout for hotel guests at the iconic Waldorf Astoria is March 1st, after which its new owner, Chinese insurer Anbang Insurance Group, will begin converting the 1,413 hotel rooms into 840 renovated hotel rooms and 321 luxury condos to the tune of $1 billion. Earlier this month, the developer filed these plans with the Department of Buildings, which also call for adding retail space, a restaurant, and a fitness center on the ground floors. They'll retain the historic ballrooms, exhibition space, dining rooms, and banquet rooms, but will still need approvals from the Landmarks Preservation Commission for any work on these public spaces; the building has long been an exterior landmark, but the LPC recently calendared a request to landmark the Art Deco interiors. Though no designs have been approved or confirmed, CityRealty dug up renderings from architectural visualization firm ArX Solutions that show their vision of space*.
More renderings and details

New renderings for COOKFOX’s 700-foot Financial District condo tower 25 Park Row

Over the summer, L+M Development Partners demolished the former Financial District flagship of J&R Music and Computer World to make way for a 54-story, mixed-use condo tower at 25 Park Row, just across from City Hall Park in an area quickly becoming a more vibrant, 24-hour neighborhood. Site excavation is now well underway for the 700-foot building, reports CityRealty, […]

November 28, 2016

Locals push for Sutton Place rezoning ahead of auction for site of planned 950-foot tower

Despite the fact that the site is headed to the auction block next month, local residents and elected officials are rallying to prevent the possible construction of a 950-foot condo tower on East 58th Street in tony Sutton Place. Curbed reports that the group, which includes Councilmen Ben Kallos and Dan Garodnick and Manhattan Borough President Gale Brewer, have submitted a plan to the City Planning Commission that proposes a height cap of 260 feet for the area bounded by East 52nd and East 59th streets east of First Avenue where there is currently no limit on how tall apartment towers can be.
READ MORE

November 21, 2016

‘Monk’ actor Tony Shalhoub drops $4M on classic Upper West Side co-op

Emmy Award-winning actor Tony Shalhoub of "Monk" fame, along with wife Brooke Adams, has picked up a $3,995,000 Upper West Side co-op, according to LLNYC. The pre-war pad at 15 West 81st Street boats a 60-foot-wide terrace with "side views" of Central Park and two master suites, as well as historic details like herringbone oak floors, nine-foot beamed ceilings, crown and base moldings, and original Emery Roth-designed doorknobs and hardware.
See more of the apartment

November 21, 2016

Site of planned Norman Foster-designed Sutton Place condo tower to be auctioned off next month

The 262,000-square-foot project that includes plans for a 900-foot-tall luxury condominium tower drawn up by British architect Sir Norman Foster of Foster + Partners that embattled developer Joseph Beninati had hoped to build in the heart of Sutton Place is set to be auctioned next month, according to Crains. As 6sqft previously reported, the sale of the property at 3 Sutton Place was authorized in September to pay back creditors and partners who were owed money from the derailed project, and a source has told Crain's that an auction is scheduled for December 13 with bids due by December 8.
Find out more

The neighbors who arrived first: Cherry Street residents prepare for One Manhattan Square

Images via Extell and Google Maps

November 21, 2016

The neighbors who arrived first: Cherry Street residents prepare for One Manhattan Square

By Cait Etherington

Images via Extell and Google Maps The construction of Extell’s high-rise condo development at the foot of the Manhattan Bridge is now well underway. When complete, 250 South Street (formerly 227 Cherry Street) will rise more than 80 stories above the East River and be home to just under 800 units, but that’s not all. As the Extell […]

Real Estate Trends

November 18, 2016

UES studio Andy Warhol rented for $150/month sells for $10 million

By Diane Pham

In addition to being one of the world's most iconic artists, Andy Warhol appears to have had the Midas touch for real estate. In 2013, Warhol's one-time townhouse on Lexington Avenue sold $5.5 million—he paid just $60,000 for it in 1959; then last October, the artist's former Montauk compound, which he paid just $225,000 for in 1972, sold for a whopping $50 million; and now, as The Real Deal reports, the ramshackle Upper East Side studio he rented for paltry $150 a month has just traded hands for an incredible $9.9 million.
find out more

November 18, 2016

Long Island’s ‘Amityville Horror’ house finds a brave buyer

Presumably unfazed by the gruesome murders that took place there in 1974, an anonymous buyer has picked up Long Island's notorious "Amityville Horror" house. The five-bedroom Dutch Colonial came on the market for $850,000 in June, and Newsday now reports that it went into contract this week. Likely due to the fact that the address is where then-23-year-old Ronald DeFeo Jr. shot his parents and four younger sisters while they slept, the listing broker said she won't "discuss the terms of a sale until it’s closed."
Find out more

Real Estate Trends

November 17, 2016

Budget woes and design disagreements cause Port Authority to stall on new bus terminal plans

Just two months ago, West Side elected officials and the Port Authority agreed to move ahead on the 10-year, $10 billion capital project to replace the current Bus Terminal, releasing five design proposals for a new building. But officials at the bi-state agency "have reached an impasse" on the project due to budget concerns and disagreements on the design, reports Crain's.
The full story

Real Estate Trends

Richard Meier, Rafael Viñoly, and KPF release designs for Upper West Side waterfront development

Towers L to R: Rafael Viñoly, Richard Meier, Kohn Pedersen Fox

November 17, 2016

Richard Meier, Rafael Viñoly, and KPF release designs for Upper West Side waterfront development

Forty-two years after Donald Trump first proposed a mixed-use development on the Upper West Side waterfront, one of the final pieces of the puzzle is coming together. Curbed got their hands on sparkling new renderings of what's now being called Waterline Square, a trio of residential towers on the five-acre site between West 59th and 61st Streets that's part of Riverside Center. In addition to views of the glassy structures, which will offer a combination of condos and rentals, and a Mathews Nielsen-designed park, what makes the reveal so exciting is the roster of starchitects behind the towers--Richard Meier and Partners, Rafael Viñoly Architects, and Kohn Pedersen Fox Associates.
More details and renderings

Upper West Side buildings to dump Trump name following petition

Trump Place Apartments courtesy of Nick Normal’s Flickr

November 15, 2016

Upper West Side buildings to dump Trump name following petition

“The building is beautiful, the service is impeccable,” Marjorie Jacobs, a resident of the Upper West Side complex currently known as Trump Place told Bloomberg in October, “But the name is very embarrassing." An outcry by similarly-minded residents and a petition have culminated in the decision to remove the president-elect's name from the buildings and instead name them according to their street addresses at 140, 160 and 180 Riverside Boulevard, reports Crains.
Find out more

Real Estate Trends

November 14, 2016

Queens, Brooklyn see ‘drastic’ rise in foreclosures

October brought a significant spike in home mortgage foreclosure rates, according to The New York Post, with more than 1,100 homes heading into foreclosure. That number represents a 32 percent increase from the previous month and a 37 percent increase from one year ago, with 400 new cases in Queens (nearly twice as many as a year ago). 365 cases were recorded in Brooklyn, a 20 percent increase, with the state overall seeing a 15 percent increase since September and 10 percent year over year, according research by Attom Data Solutions.
Find out more

Real Estate Trends

Trump Tower residents are sick of protestors; problem unlikely to improve

Photo via Kristal T/Flickr

November 11, 2016

Trump Tower residents are sick of protestors; problem unlikely to improve

By Diane Pham

Since Donald Trump announced his run for office, Trump Tower, where the President-elect both lives and keeps his political headquarters, has been a hotspot for protestors. While in the past few months, inconveniences haven't escalated far beyond anti-Trumpers stopping by to give the building the finger, after the 2016 election results were announced, it's become veritable zoo outside the 5th Avenue tower as thousands have convened to denounce (and to be sure, support) a Trump presidency. The situation has become a major disruption for residents of the luxury skyscraper who are now annoyed with the crowds. As The Post so fittingly writes, "It’s not so easy being a member of the 1 percent if you live at Trump Tower."
more on the complaints here

November 10, 2016

Real estate industry likely to benefit from a Trump presidency

The city's real estate industry isn't too worried about a Donald Trump presidency. Real estate insiders feel that the man whose family's fortune was made in the industry and padded by its favorable tax breaks, foreign investments and still-rising market will be unlikely to bite the hand that has fed it so well, Crains reports.
Loopholes safe; affordable housing not so much

November 10, 2016

Sports Illustrated model Kate Bock picks up sleek, $1.35M Greenwich Village duplex