Real Estate Trends

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.
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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

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

Car sharing service Car2go is expanding from Brooklyn to cover western Queens. [Crain’s] Rapidly growing brokerage Compass is looking to recruit. Here’s a quick video showcasing how they’re trying to “reinvent real estate.” [6sqft inbox] The Dakota’s co-op board allegedly tried to woo developer Robert Siegel—who has been trying to move into his apartment at the storied building […]

Real Estate Trends

August 10, 2015

Another Pivoting Skyscraper Coming to Crowded Midtown East Block

It's hard for a new building to stand out in the Big Apple these days, with striking towers designed by the world's foremost architects, soaring pinnacles jutting 1,500 feet into the clouds, and massive 1,000-unit apartment buildings possessing all the amenities of a Caribbean resort. However, within the densest thicket of Midtown skyscrapers, Handel Architects along with SLCE have crafted a 43-story, 450,000-square-foot residential tower whose elevations are angled to the street grid on all sides. The tactic will set the skyscraper apart from its perpendicular neighbors and grant its residents a touch more light and air within Midtown's concrete canyons. Envisioned by Lloyd Goldman’s BLDG Management Company, the future 360,000-square-foot tower at 222 East 44th Street will rise from a claustrophobic stretch of street that perhaps is the closest Manhattan gets to matching the tightness and vertical density of Hong Kong. The feeling is further heightened by the street dead ending into Lexington Avenue and the imposing MetLife building looming behind.
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Another 1,000-Foot-Plus Tower Moves Forward Near South Street Seaport

Rendering created by CityRealty based on the reported height

August 7, 2015

Another 1,000-Foot-Plus Tower Moves Forward Near South Street Seaport

There's no slowing down the city's supertall boom. Crain's reports yet another 1,000-foot plus tall tower could soon be joining the New York City skyline, rising at the combined sites of 80 South Street and 163 Front Street. Chinese investment company China Oceanwide Holdings released a statement saying they would be purchasing the development parcels for $390 million through a U.S. subsidiary from current owner Howard Hughes Corporation. The new tower will sit just south of the South Street Seaport, and amid a grouping of other tall, but not quite as tall, towers.
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August 7, 2015

How to Stop Supertall Towers from Swaying; FAO Schwarz’s Times Square Deal Falls Through

JFK Airport will receive $8.9 million in federal funds for runway and airfield upgrades. [Crain’s] Fortis Property Group is making progress with its controversial plan to bring four apartment towers to the former site of the Long Island College Hospital in Cobble Hill. [Curbed] With Manhattan skyscrapers getting taller and thinner, developers are installing giant counter […]

Real Estate Trends

August 6, 2015

BuzzFeed Editor Picks Up a $2.25M Harlem Townhouse

By Annie Doge

Listicles must certainly be profitable. Mark Schoofs, BuzzFeed News' investigations and projects editor, just picked up a $2.25 two-family Harlem townhouse, according to property records released today. The buy comes just a few months after we uncovered that New York Times editor Frank Bruni bought an Upper West Side apartment for $1.65, leaving many wondering just how "struggling" are writers these days? Schoofs' new home was constructed only seven years ago and has two units on six floors. The larger five-bedroom residence, where we assume the homeowner will live, occupies the top four floors and has three balconies, a terrace, and a duplex roof deck. The other two-bedroom unit on the first two floors has access to the back patio and garden.
Take a look around

August 6, 2015

Excavation Underway at Former 5Pointz Site; Are NYC Rents Too High for SoulCycle?

Excavation has begun at 22-24 Jackson Avenue to make way for the bland rental towers on the former site of graffiti mecca 5 Pointz. [Court Square Blog] Williamsburg is getting another Jenga-looking building. [Curbed] Amenities in rental buildings are catching up to the swanky offerings in condo and co-op residences. [NYO] Fitness behemoth SoulCycle recently […]

Real Estate Trends

August 5, 2015

The Many Lives, and Miraculous Recovery, of NYC’s First Cancer Hospital

By Emily Nonko

Walking down Central Park West from the north end of the park, it's hard to miss the castle-like structure on the corner of 105th Street. The facade is dominated by great conical towers, majestic turrets, deep red brick, and a soft Belleville brownstone. A closer look reveals stained glass windows and intricate stonework, all convincing details that someone went out to build a fairy-tale castle on the perimeter of Central Park. Among the surrounding townhouses and co-op buildings, it's a stunning piece of architecture that looks like it doesn't quite belong. Indeed, the story of how this building, constructed at 455 Central Park West in 1887, still stands is an unlikely one that is rooted in medical history–a dark medical history, at that. This was New York's first cancer hospital, and the first hospital in the United States dedicated specifically to its treatment. This was a time when cancer treatment was unfamiliar to most doctors–in the back of the castle was a crematorium and smokestack that was often in use. After the hospital's closure in 1955, it became a notorious nursing home known for mistreating its patients. When investigations caused the nursing home to close in 1974, the building was left to rot. Not until a redevelopment plan took off in 2000 was it restored into a luxury condo development. Today, despite its grim past, it remains an important piece of New York's medical and architectural history.
Keep reading for the full story

August 5, 2015

16 Sandy-Damaged Historic Sites Get $6.2M in Grants; Pier 17 Faces Challenges at Landmarks

What’s believed to be the last horse auction building in the city (it’s also Frank Stella’s former East Village studio) is up for sale for $18 million. [EV Grieve] Governor Cuomo allotted $6.2 million to 16 historic sites throughout the city that are still in need of repairs from Hurricane Sandy in 2012. [Gothamist] The Chetrit […]

Real Estate Trends

August 4, 2015

Grocery Mogul Is Buyer of Donald Trump’s Apartment; First Look at Triangle Park in the Village

The buyer of Donald Trump’s $21 million Park Avenue pad is grocery mogul Ray Berry. [TRD] Several former manufacturing sites in North Brooklyn might be full of toxic leftovers. [BK Mag] Pritzker Prize-winning architect Tadao Ando gets a $40 million construction loan for his first NYC project at 152 Elizabeth Street. [TRD] Have a first […]

Real Estate Trends

Want to Enter an Affordable Housing Lottery? You’ll Be up Against 696 Other Applicants

Photo via Wiki Commons

August 4, 2015

Want to Enter an Affordable Housing Lottery? You’ll Be up Against 696 Other Applicants

By Heather Cooper Vivares and Amanda Cozens

Photo via Wiki Commons According to a new report from the Daily News, for every affordable apartment offered through the city's housing lotteries since 2013, there were 696 applicants, leaving you with a measly 0.14 percent chance of being selected. "All told, there were 2.9 million applications for 4,174 affordable units available from 72 lotteries run by the city's Department of Housing Preservation and Development (HPD)," says the News, yet another signifier that average New Yorkers are struggling to pay ever-increasing rents.
Find out more here

August 3, 2015

Actors and Filmmakers of Tribeca: The Movie Mecca Downtown

With its cobblestone streets, quirky artists' lofts and industrial-chic architecture, Tribeca is a hot spot for filming movies and television scenes. This past spring, we did a round up of the musicians that call Tribeca home; now we're taking a look at the flock of actors and filmmakers who have made the move to the 'hood's picturesque streets. Tribeca's most famous resident, Robert De Niro, is often credited with transforming the neighborhood into the vibrant place we know today by opening multiple restaurants, developing property, and most notably creating the world-famous Tribeca Film Festival. In addition to De Niro, we mapped out Tribeca's celebrity residents who are famous onscreen and behind the scenes. Ranging from Gwyneth Paltrow's "fuzzy nap zones" with river views to Lena Dunham's artist loft from "Tiny Furniture," it's clear that celebrities feel at home in Tribeca.
More details and our celeb map

August 3, 2015

First Look at Toll Brothers’ Chelsea Condo Designed by Morris Adjmi

Here's our first glimpse at Toll Brothers' under-construction condominium rising at 55 West 17th Street in Chelsea. Morris Adjmi is the building's architect, which is not surprising given his track record crafting sensitive designs for the city's historical areas. The miniscule rendering displayed on the developer's website illustrates a quiet and dignified facade composed of large square-ish windows and soft gray cladding. The project's teaser site was recently launched, and marketing materials describe the 55-unit building as "distinctively modern, classically detailed condominiums in Chelsea."
More details here

August 3, 2015

Last Music Row Shop Closes; The Mansions of Mill Basin