Real Estate Trends

Plans Filed for Condo/Cultural Building in West Chelsea by the Late Zaha Hadid
July 18, 2016

Plans Filed for Condo/Cultural Building in West Chelsea by the Late Zaha Hadid

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At the beginning of June, 6sqft reported that the Moinian Group would be moving ahead with a project at 220 Eleventh Avenue in Chelsea that they had collaborated on over a year ago with the late Zaha Hadid. This is located just three blocks away from the starchitect's only other New York Commission at 520 West 28th Street along the High Line. At the time, the developer announced that the new building will be "a collection of signature loft-like condominium residences, a collection of penthouses and a cultural institution to establish itself as the hub of the world renowned art district that is West Chelsea." Yimby has now revealed that Moinian filed official permits for the 11-story structure, which will boast 40 large condos, a museum, and a restaurant.
More details right this way
First Look at Williamsburg’s Tallest Building Not Planned Along the Waterfront
July 16, 2016

First Look at Williamsburg’s Tallest Building Not Planned Along the Waterfront

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"Avid church and factory convertor" Yoel Werzberger and Watermark Capital Group are building a 19-story, 230-foot residential building in the heart of Williamsburg at 321 Wythe Avenue, reports CityRealty.com, and it'll be the tallest tower in the neighborhood not along its waterfront. The site was formerly a parking lot and single-story church owned by the Parish of Saints Peter and Paul Roman Catholic Church, who also owns an acre of property on the block between Wythe and Berry Streets. The struggling church entered a long-term lease deal with Watermark last year that will allow them to erect a residential tower while making payments to the Parish that begin at $2.1 annually.
More info this way
Parker Posey Unloads Her $1.45M Greenwich Village Co-op in Less Than Two Months
July 15, 2016

Parker Posey Unloads Her $1.45M Greenwich Village Co-op in Less Than Two Months

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Parker Posey caught people's attention when she posed in the listing photos for her Greenwich Village co-op at 30 Fifth Avenue. Take a look at the indie actress, who is currently celebrating the release of her new film "Café Society," lounging in her bedroom, reading Mary Louise Parker’s “Dear Mr. You” along with her Bichon Frise Gracie. Though unusual, the tactic must've worked, because the Observer reports that in less than two months the $1.45 million pad has gone into contract.
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Looming L Train Shutdown Already Causing Williamsburg Condo Prices to Dip, Says Expert
July 15, 2016

Looming L Train Shutdown Already Causing Williamsburg Condo Prices to Dip, Says Expert

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Since word broke that the L Train would be shutting down for upwards of a year, many have been wondering just how this would affect real estate prices in the immediate term. Well it looks we may finally be getting a taste. As DNA Info first reports, The Real Estate Board of New York (REBNY) released their quarterly findings this week, and REBNY found that although the number of condos sales were up in Williamsburg by 43 percent this last quarter over the same time last year, the average sales price dropped a considerable 13 percent to $937,000. To put this further into perspective, for Brooklyn as a whole, REBNY recorded a nine percent rise to $923,000 over the same period; Manhattan condos by comparison grew by 21 percent to an average $2.843M.
is there anything really to this?
Lottery Opens Tomorrow for 300 Affordable Rentals at Pacific Park Brooklyn
July 14, 2016

Lottery Opens Tomorrow for 300 Affordable Rentals at Pacific Park Brooklyn

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It's been almost two years since architects COOKFOX were selected by developer Greenland Forest City Partners to design two residential buildings at their Pacific Park Brooklyn project, the 22-acre site anchored by the Barclays Center and containing eight million square feet of mixed-use development. COOKFOX took the helm for 550 Vanderbilt Avenue, a 275-unit condo, and 535 Carlton Avenue, a 298-unit affordable rental. A housing lottery for the latter will open tomorrow, according to a press release, offering low, moderate and middle-income residents the chance to apply for apartments ranging from $548/month studios to $3,716/month three-bedrooms.
Find out if you qualify
FXFOWLE’s The Ashland Kicks Off Leasing With New Renderings of Apartments and Food Hall
July 14, 2016

FXFOWLE’s The Ashland Kicks Off Leasing With New Renderings of Apartments and Food Hall

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At the crossroads of Fort Greene, Downtown Brooklyn, and the BAM Cultural District, The Ashland rises. Next Tuesday, July 19, the 53-story, 586-unit tower will open its leasing office to prospective renters interested in its one-, two- and three-bedroom no-fee apartments, priced from $2,600/month for studios to $7,500/month for three-bedrooms. Previously, 282 apartments went online through the city's affordable housing lottery. To coincide with the grand opening, the Gotham Organization-developed and managed building has also launched its full website, providing us a bundle of new renderings of the exterior, the apartments, and the 17,000-square-foot marketplace that will open along its ground floor.
More details ahead
Why Are the Supertall Gurus at Extell Planning a Stubby 18-Story Condo on Billionaires’ Row?
July 12, 2016

Why Are the Supertall Gurus at Extell Planning a Stubby 18-Story Condo on Billionaires’ Row?

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Gary Barnett's Extell Development has become synonymous with sky-high towers, especially those along Billionaires' Row -- the 1,005-foot-tall One57 and the 1,550-foot-tall Central Park Tower -- where it appeared that they were readying to construct a third behemoth that would rise more than 700 feet. However, Crain's reports that Extell has filed plans for the site at 134 West 58th Street (the same block as One57), and they call for a stubby, 18-story, 41-unit condo building that's less than 200 feet tall.
What's the deal?
Downtown Brooklyn’s 300 Ashland Releases New Renderings to Kick Off No-Fee Leasing
July 12, 2016

Downtown Brooklyn’s 300 Ashland Releases New Renderings to Kick Off No-Fee Leasing

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The latest tower to open its doors in Downtown Brooklyn‘s BAM Cultural District is 300 Ashland, a 35-story, mixed-use tower from Two Trees Management that is offering 300 no-fee rentals. There are currently nine units available with studios starting at $2,850/month, one-bedrooms at $3,300/month and a single three-bedrooms from $5,750/month. To coincide with the launch, the developer […]

Apply For Affordable Condos at Harlem’s Circa Central Park, Starting at $225,000
July 8, 2016

Apply For Affordable Condos at Harlem’s Circa Central Park, Starting at $225,000

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Circa Central Park, Harlem’s most anticipated condominium project is currently is offering ten lucky households a chance to buy an affordable new unit within the high-end, curving building. Crescent 110 Equities is spearheading the lottery program, and occupancy of the development is set to begin in 2017. The available apartments range from $225, 294 studios to $381,105 two-bedrooms.
Find out if you qualify
Airbnb Pulls 2,233 Listings Ahead of Illegal Hotel Ad Law
July 8, 2016

Airbnb Pulls 2,233 Listings Ahead of Illegal Hotel Ad Law

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Increasingly the subject of criticism from state legislators and advocacy groups, Airbnb reported Thursday that it had removed 2,223 more listings from the site that may have been illegal hotels under the current law, according to the New York Post. Governor Cuomo may soon sign a bill that would make it illegal to advertise these listings–i.e. those available for fewer than 30 days in buildings with more than three units where the original tenant isn’t present–in deference to claims that these illegal hotels are removing much-needed stock from the pool of available housing for those who need it. 6sqft recently cited a new report claiming that 56 percent of the company's New York City listings were illegal.
Why did all those listings get booted?
Rare Opportunity to Apply for New Upscale Condos in Clinton Hill, Priced From $156,000
July 7, 2016

Rare Opportunity to Apply for New Upscale Condos in Clinton Hill, Priced From $156,000

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Here's your rare opportunity to purchase a NYC condominium in an upscale building for a fraction of market-rate prices. The developers of Clinton Hill's under-construction condo Waverly Brooklyn are now accepting applications for 11 subsidized homes priced as low as $156,444. Qualified applicants have a chance to purchase the deal of a lifetime with studio, one- and two-bedroom homes priced 86-percent below the neighborhood's market-rate medians. The condos are available to households earning between $32,617 to $48,923.
More details ahead
Manhattan View Condo Launches Full Website, Touting Luxury Amenities and Far-Reaching Views
July 7, 2016

Manhattan View Condo Launches Full Website, Touting Luxury Amenities and Far-Reaching Views

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Co-developers Kuafu Properties and SCG America have fully launched their website marketing 151 Jamie Drake-designed condos called Manhattan View. For those in search of an upscale home in Midtown West, it's unlikely that Manhattan View can escape your radar for long. The residences are perched on 13 floors atop the Arquitectonica-designed MiMA Tower at 460 West 42nd Street, and the exclusive collection of apartments will provide richly appointed amenities and far-reaching views of the city and waterways. The new website leads with a fun and quirky film of the building that tours its apartments and amenities and grants a view of the lifestyle it hopes to provide its residents.
More details and the full video ahead
Hello Albermarle’s ‘Avant-Garde-on-a-Budget’ Condos Take Flight in Flatbush
July 6, 2016

Hello Albermarle’s ‘Avant-Garde-on-a-Budget’ Condos Take Flight in Flatbush

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Hello Living is extending their Bauhaus-inspired magic deeper into Brooklyn with their latest project Hello Albermarle. It rises from a former parking lot located near the renewed Loew’s Kings Theatre and another upcoming high-rise development by the firm Hello Nostrand. Now having ascended four floors out of its concrete pit, the 44-unit condominium tower will ultimately tower 12 stories and 140 feet over its cozy Flatbush community.
More info ahead
COOKFOX’s Massive Affordable Housing Development Pushes Forward in the Bronx
July 3, 2016

COOKFOX’s Massive Affordable Housing Development Pushes Forward in the Bronx

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Last month, 6sqft reported on the COOKFOX-designed development Park House, the first phase of a two-building affordable and supportive housing complex in the Tremont neighborhood of the Bronx. Since then, the 12-story building has topped off and foundation work is quickly moving along for its adjacent fraternal building dubbed the Webster Residence. The development is being pushed forward by Breaking Ground, a non-profit committed to ending homelessness. This development will be the organization's first venture in the South Bronx.
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Hell’s Kitchen’s 535W43 Kicks Off Leasing and Offers One Month’s Free Rent
July 3, 2016

Hell’s Kitchen’s 535W43 Kicks Off Leasing and Offers One Month’s Free Rent

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CetraRuddy's through-block rental development 535W43 is now complete, and this past Thursday the development team threw a grand opening event inside the Hell’s Kitchen haven. The finished product ranks as one of the neighborhood's most handsome new additions, comprised of two 14-story towers whose street-facing facades are clad in an industrial-inspired skin of multi-tone bricks, grand casement windows, and dark metal accents. Across its 263,300 square feet of floor area are 180 no-fee apartments ranging from studios to two-bedrooms. For a limited time, the leasing team headed by Douglas Elliman is offering new renters one month free on newly signed leases. Seven apartments are now on the market with net-effective rents starting at $3,000/month for studios, $4,080 for one-bedrooms, and $6,785 for two-bedrooms.
Find out more
World Trade Center Performing Arts Complex Gets $75M Gift From Billionaire Ronald Perelman

Image pointing to the site of the Performing Arts Center at the World Trade Center. Rendering by DBOX

June 30, 2016

World Trade Center Performing Arts Complex Gets $75M Gift From Billionaire Ronald Perelman

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Billionaire businessman and philanthropist Ronald O. Perelman has made a $75 million gift towards the Performing Arts Center at the World Trade Center (PACWTC) reports the New York Times. The donation will finally make one of the last unfinished projects at the site a reality, and the Center will therefore be named for Perelman. "I think that this is a project that must happen. It is more than just a pure artistic center to serve a community. It is that, but at the same time it’s much more than that," he said. This is not Perelman's first time donating to the World Trade Center site. Under the Bloomberg administration he gave $5 million for the National September 11 Memorial and Museum and said then that he was interested in making the lead gift for a performing arts center at the site.
Find out more this way
INTERVIEW: Deborah Berke on Becoming Dean of Yale Architecture School, and Her New Book
June 30, 2016

INTERVIEW: Deborah Berke on Becoming Dean of Yale Architecture School, and Her New Book

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July is a big month for Deborah Berke, the founder of the New York-based architecture and design firm Deborah Berke Partners. Not only will Ms. Berke become Dean of the Yale Architecture School on July 1st (the first woman to do so in the school’s 100-year history), taking over for Robert A.M. Stern, but her new […]

Apply Today for Six $947/Month Apartments in Astoria’s Artsy Welling Court
June 30, 2016

Apply Today for Six $947/Month Apartments in Astoria’s Artsy Welling Court

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Welling Court is a tiny enclave in Astoria, tucked between 30th Avenue and Vernon Boulevard, near the base of Astoria Park. It's best known for the funky street art that adorns its building's walls. Organized by the Welling Court Mural Project, there are now more than 140 murals from international artists, and each June the group puts on a huge block party to celebrate that year's art. If this arsty community appeals to you, a new rental building has recently gone up in Welling Court, and it comes with six low-income apartments that are now up for grabs through the city's housing lottery. 11-07 Welling Court is a six-story, 27-unit building from Architects Studio and developer Halil Todic. The affordable residences, created through the city's 421-a program, are $947 a month for individuals earning between $32,469 and $38,100 annually or two-person households earning between $32,469 and $43,500.
More info
Join the World’s Leading Urban Decision-Makers at the NYT’s Cities for Tomorrow Conference
June 30, 2016

Join the World’s Leading Urban Decision-Makers at the NYT’s Cities for Tomorrow Conference

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Rapidly growing populations and increasingly scarce resources are two of the biggest challenges that cities face today. But how are policymakers, developers, entrepreneurs and designers responding to these issues? For the third year in a row, the New York Times’ Cities for Tomorrow conference will bring together the world’s top urban-thinkers to discuss what’s being done to enact change that will […]

Lottery Opens for 41 Units at Related’s Hudson Square Rental, Starting at $788/Month
June 29, 2016

Lottery Opens for 41 Units at Related’s Hudson Square Rental, Starting at $788/Month

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If living right near the Holland Tunnel doesn't bother you, here are 41 low-income apartments on the border of Tribeca and Soho in a brand-new rental building from the Related Companies. 261 Hudson Street is in the up-and-coming Hudson Square neighborhood and was constructed as an 80-20 building through the city's Robert A.M. Stern Architects, it has 12 stories and 201 units total. The affordable apartments include $788/month studios, $847 one-bedrooms, and $1,025 two-bedrooms.
Find out if you qualify
JDS and SHoP’s Cherry Street Tower Will Be Taller Than Expected, May Reach 1,000 Feet
June 29, 2016

JDS and SHoP’s Cherry Street Tower Will Be Taller Than Expected, May Reach 1,000 Feet

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Back in April, the power team of JDS Development and SHoP Architects unveiled plans for a 900-foot, 77-story rental building at 247 Cherry Street in the Two Bridges area of the Lower East Side. This neighborhood has become controversial for a recent influx of sky-high development; 247 Cherry will rise directly next to Extell's 850-foot One Manhattan Square and not far from two 50-story towers at 265-275 Cherry Street. Its 900-foot height would've made it the tallest tower between Midtown and Downtown, but left it 100 feet shy of the supertall status JDS and SHoP are known for (the duo is responsible for the 1,438-foot-tall 111 West 57th Street and 9 DeKalb Avenue, Brooklyn’s first 1,000+ foot tower). However, Bowery Boogie reports today that the height may actually be at or above 1,000 feet, rising 80 stories.
More details ahead
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