Real Estate Trends

Bedford+Bowery polled 321 people along Bedford Avenue and found that one in three were from outside of NYC, and only one in four actually lived in the neighborhood. [BB] Ceruzzi Properties and their Chinese partner SMI USA are planning to build a $1B condo at 520 Fifth Avenue. [TRD] The world’s most “livable cities” also […]

Real Estate Trends

Google Earth rendering of the new residential buildings going up in Downtown Brooklyn, via CityRealty

August 18, 2015

22,000 New Apartments Coming to Northern Brooklyn by 2019

We recently reported that New York City was entering its biggest building boom since 1963. Building permits rose 156 percent over the last year, accounting for 52,618 new residential units. If that number seems large to you, keep in mind it's spread over the five boroughs, including the supertall towers of Manhattan. But a new report from CityRealty shows that northern Brooklyn alone with get 22,000 new apartments over the next four years. According to the report, which only looked at buildings with 20 or more units, "around 2,700 new units are expected to be delivered in 2015. That number will nearly double in 2016, when approximately 5,000 apartments will be ready for occupancy." The majority of these units, 29 percent or 6,412 apartments, will come to Downtown Brooklyn, followed by Williamsburg with 20 percent or 4,341 units.
More on the Brooklyn building boom

Real Estate Trends

August 18, 2015

The Final Design of Extell’s Nordstrom Tower Still Undecided

Back in May it was reported that the official rendering for Extell's Nordstrom Tower—a.k.a. Central Park Tower, a.k.a. NYC and the country's future tallest tower (by roof height)—had finally been released by the developer, showing a glassy construction rising 1,523 feet from its 217 West 57th Street address. But now comes news from The Post's Steve Cuozzo that the tower's final design is actually "still up in the air."
Find out more here

August 18, 2015

Donald Trump Reports for Jury Duty; Did Louis C.K. Come to Mayor de Blasio’s Defense?

Here’s a hilarious (and somewhat poetic) account of what went down when Donald Trump was called into jury duty this week. “He listed his occupation as ‘real estate’.” [NYT] A caller who sounded a lot like comedian Louis C.K. dialed into “The Brian Lehrer Show” this morning to defend Mayor Bill de Blasio. He identified himself as “Louis in the Village.” [Politico] […]

Real Estate Trends

August 18, 2015

New 15-Story Passive House Condo May Be Coming to 128 West 23rd Street

A new residential building may be coming to West 23rd Street next to Citizen condos. While no new building or demolition permits have been filed for the parcel, an eco-friendly design penned by Sven Peters in collaboration with VUW Studio / CastDesignStudios visualizes the site's full zoning potential. Their 15-story conceptual design targets the "high-end, enviro-hedonist buyer," yielding a 25,000-square-foot building with 15 full-floor loft residences and ground-level commercial space. Their website notes that the project will be designed under the German Passivhaus environmental standards and will incorporate the latest advancements in energy recovery, infiltration mitigation, and air purification.
More details ahead

August 17, 2015

Soccer Star Cristiano Ronaldo Nabs $18.5M Trump Tower Loft

By Annie Doge

If there's one name in soccer that Americans know (other than David Beckham, of course), it's Cristiano Ronaldo, the forward for Real Madrid, captain of the Portuguese national team, and multiple-time best player in the world winner. It's been rumored that the internationally-known hunk is making a move to the MLS, the United States soccer league, and a recent real estate transaction right here in NYC is fueling the fire. The Post reports that Ronaldo has scored an $18.5 million loft at the Trump Tower from Italian real estate mogul Alessandro Proto.
Check out the loft here

August 17, 2015

NeighborhoodX’s 3D Map Reveals the Blocks Where Real Estate Prices Are Soaring

Click for the expanded version >> We all have a pretty good idea which NYC neighborhoods command top dollar, but this incredible 3D map from NeighborhoodX really puts things into perspective by pinning the city's 325 neighborhoods against one another in a visually jarring side-by-side comparison. Among the most expensive? For Brooklyn, Gravesend beats out our best guess of DUMBO/Brooklyn Heights with its enclave of multi-million dollar, over-the-top mansions; and in Manhattan, Billionaires' Row rises as a whole other beast with prices soaring as high as its supertalls.
get a more detailed look here

Real Estate Trends

August 17, 2015

FiDi’s 50 West Tops Out; Let’s Build Another Borough

FiDi’s new luxury tower 50 West has just topped out. [6sqft inbox; Listings] Limited space? Why don’t we just build another borough? [The Awl] Soho’s mom and pop design shops want to stop the infiltration of corporate retailers. [AMNY] There’s a 19th century stable hidden in the heart of Midtown. [Scouting NY] After 30 years, […]

Real Estate Trends

August 16, 2015

Construction Begins on Bushwick’s AnX Artist Lofts by Gene Kaufman

By Heather Cooper Vivares

Construction has begun on a cross-braced, utilitarian artists' space in the heart of Bushwick at 13 Grattan Street. According to the Wall Street Journal, after the great success of the adjacent artist production studio space The BogArt in 2005, contemporary patrons of the arts Marianne and Ted Hovivian decided to meet the growing demand for affordable work and exhibition space with a new 40,000-square-foot building. The mixed-use development will be divided between 23,000 square feet of artist lofts on the second through fourth floors and an additional 8,000 square feet of retail space on the ground floor.
More details here

Hudson Yards’ Outdoor Observation Deck Will Be the Highest in the City

At the end of last year, we learned that 30 Hudson Yards, the 92-story tower that's part of the west side mega-development, would offer a death-defying observation deck. Initial reports said that a tilting glass walkway would jut out of the building around 1,000 feet, but a new report from the Post confirms that the actual height will be 1,100 feet. This puts it 50 feet higher than the Empire State Building's 86th-floor outdoor observation deck, making it the highest in the city. The paper also has a shiny new rendering of the deck, which will span more than 5,000 square feet and boast 360-degree views.
Find out more here

August 14, 2015

VIDEO: This Guy Pays $1,100 to Live in an 100-Square-Foot Apartment

Madison, Wisconsin transplant Grayson Altenberg is paying $1,100 a month for a 100-square-foot apartment in a 4th-story walk-up. Yes, it’s as insane as it sounds. [Village Voice] Helping sugar daddies and their sugar babies find apartments on the hush is big business. [NYDN] A $150,000/month apartment at One57 is the city’s priciest non-hotel rental. [Curbed] The […]

Real Estate Trends

August 13, 2015

Could This Honeycomb Tower Be Moshe Safdie’s Bancroft Building Replacement?

Images of a mysterious high-rise project have been posted on the website of Architecture Work Office, depicting a balcony-laden 50-story residential tower that balloons in area as it rises. The rendered skyscraper appears to align with a block-through development site near the corner of West 29th Street and Fifth Avenue that has been assembled by Ziel Feldman's HFZ Development. That site was purchased from the Collegiate Churches of New York in 2013 and was partially occupied by the striped brick and limestone Bancroft Building dating to 1896. Despite pleas from preservationists, the building was demolished earlier this year and has gone down as one of the city's most heart-wrenching architectural losses in recent years.
is this new tower in the works?

August 13, 2015

Rents Are Soaring Everywhere; Brooklyn and Queens Set New Records

We always hear that the summer months are the worst time to move, and the July rental report from Douglas Elliman confirms this belief, as median rental prices rose in Manhattan, Brooklyn, and Queens. Like they did in June, median Brooklyn rents set a new record, rising 4.1 percent to $2,968, just $450 less than the median Manhattan rent. If you thought you could seek refuge in Queens, you'd better go to your plan B; the borough's median rent rose 14 percent, coming in at $48 above Brooklyn, also setting a new record after several months of decline. And unlike Manhattan and Brooklyn, large apartments in Queens had higher rent increases.
More from the report

Real Estate Trends

August 13, 2015

Inside Brooke Shields’ Hamptons Cottage; A NY Cabby Scores a $226/Month Chelsea Pad

Taxi driver Hamidou Guira has finagled himself a $226/month apartment at the Chelsea High Line Hotel using a little known rent regulation law. [NYP] Take a tour of Brooke Shields’ colorful and classy cottage on Long Island. [Better Homes and Gardens] Real Estate bigwig and “Shark Tank” star Barbara Corcoran is reportedly eyeing Tavern Island as her […]

Real Estate Trends

August 12, 2015

Venus and Serena Williams Sell Midtown West Apartment for $2M

Just in time for the U.S. Open, superstar tennis sisters Venus and Serena Williams have sold their Midtown West apartment for $2.1 million, according to city records released today. The 1,800-square-foot loft at 28 West 38th Street is currently configured as a one-bedroom, but the wide open layout lends itself to a two- or three-bedroom setup. The sisters bought the unit in 2005 for $1,335,000, but were quoted a couple years later saying they had yet to furnish the space. And judging by the seemingly staged listing photos, they may never have gotten around to it. The buyers are Ted Wells, the criminal attorney recently hired by the NFL to investigate the "deflategate" issue, and his wife Nina Mitchell Wells, former Secretary of State of New Jersey.
See the rest of the space

August 12, 2015

Bushwick Residents Paint Colorful Murals on Their Homes; Brooklyn’s Macy’s to Get a New Space

Donald Trump and Ivanka Trump’s starter home has hit the market for $54M. [NYDN] Downtown Brooklyn will get a new glass tower complete with an updated Macy’s. The retailer struck a $270M deal with Tishman Speyer to redevelop the site. [NYDN] 3 WTC will no longer have masts. The design change cuts the tower’s size down to […]

Real Estate Trends

August 12, 2015

A Toast to Tribeca: More Images Revealed of KPF’s 111 Murray Street

Grounded in the foothills of the downtown skyline, where the quaint streets of Tribeca scale upwards into the shimmering temples of capitalism, lies the 35,000-square-foot construction site of an upcoming 62-story condominium known as 111 Murray (previously called 101 Murray). Architecture critic Carter Horsley exclaims, "111 will be the most elegant addition to the downtown skyline in decades." Truly, the Kohn Pedersen Fox Associates-designed tower–reminiscent of a champagne flute with its curvaceous body, narrowing mid-section, and flared crown–will be a refreshing expression of form and fluidity that will counteract the blocky towers that have shrouded the once romantic skyline. We've uncovered some brand-new renderings of the tower, and they continue to impress.
Take a look right here

August 12, 2015

POLL: Do You Agree That the New LaGuardia Plan Is Non-Functional and Uninspiring?

On Monday, resident architecture critic Carter B. Horsley shared his thoughts on the the new $4 billion LaGuardia airport proposal, and let’s just say he is not impressed. He feels the design is “especially lackluster and uninspired when compared to many new 21st-century airports” with no “new urban mascot, logo or icon to offer and amuse.” He […]

August 11, 2015

Cookbook Author and New York Times Food Columnist Mark Bittman Gets $1.8M for UWS Co-op

By Annie Doge

If you want to get in on the million dollar real estate game, get a food-related editorial job at the New York Times. First, we learned that op-ed columnist (and former chief restaurant critic) Frank A. Bruni bought a $1.65 million Upper West Side pad at 123 West 74th Street, quickly followed by the sale of his old apartment in the same building for $1.95. Now, just a few blocks away at 17 West 71st Street, the Times' famed food columnist Mark Bittman and his wife Kelly Doe, an art director at the paper, have sold their apartment for $1.82 million, according to city records released today. The couple bought the home in 2009 for $999,999, so they've almost doubled their money. Bittman is also the author of 14 cookbooks (the most well known of which might be "How to Cook Everything") and a regular judge on Food Network competition shows. This makes it curious that the kitchen of his Central Park West pad is rather small and dull.
Take a look around here

The Bronx Is Getting a New Mixed-Use High-Rise Near Yankee Stadium

Google Earth images courtesy of CityRealty

August 11, 2015

The Bronx Is Getting a New Mixed-Use High-Rise Near Yankee Stadium

Brooklyn and Queens have been flush with new condos and rental developments lately, now it's time for the Bronx to get in on the action. Local developer M. Melnick & Co. has begun construction of a mixed-income, 17-story residential and commercial high rise at 810 River Avenue that will be the area's first since it was rezoned in 2009. The company dates back to 1934 and has proven to be reliable builders of multi-family, senior, supportive and mixed-use housing developments around the city.
Find out more right here

August 11, 2015

First Look at 23-Story Condominium Replacing Greenwich Village’s Bowlmor Lanes

Here's our first peek at the 23-story condominium tower replacing the former home of Greenwich Village's iconic Bowlmor Lanes at 110 University Place. Documents filed with the Department of Buildings depict a modest 280-foot-high tower rising from a block-long, one-story retail podium. Situated on a charming stretch of University Place lined with an assorted mix of low and mid-rises, the existing four-story, 75,000-square-foot building housed a parking garage in addition to the famed bowling alley. In 2012, Billy Macklowe, founder and CEO of William Macklowe Company and son of 432 Park Avenue developer Harry Macklowe, purchased a long-term controlling position in the building, which effectively made Macklowe the building's landlord for the next 72 years.
More details right this way

August 11, 2015

Take a Walk Down ‘Do the Right Thing Way’; NY Real Estate Could See a Slowdown in Chinese Investment

A look at the new Goethals Bridge on Staten Island, now under construction. [SI Live] A street in Bed-Stuy has officially been named after Spike Lee’s “Do the Right Thing.” The name applies to Stuyvesant Avenue, a stretch between Lexington Avenue and Quincy Street. [Brooklyn Mag] The devaluation of the Chinese renminbi could lead to slowdown in New York investments. China has […]

Real Estate Trends

August 10, 2015

Permits Filed for New Faux-Loft Building at the Intersection of Boerum Hill and Gowanus

Avery Hall Investments filed permits last week for an eight-story, 20-unit residential building at the corner of Third Avenue and St. Marks Place. The site is situated in the area where bucolic Boerum Hill meets the utilitarian factory lofts of Gowanus. The development at 125 Third Avenue will replace a one-story commercial building that Avery picked up earlier this year for $5.65 million according to city records. The team also recently broke ground on another Boerum Hill condominium at 472 Atlantic Avenue designed by the context-sensitive Morris Adjmi Architects.
More details on the project

August 10, 2015

Car2go Expanding to Queens; Brooklyn Rents in Trendy Nabes Outpace Manhattan