Real Estate Trends

Yesterday, we reported that My Micro NY, the city’s first micro apartment complex, was accepting applications for its affordable units, which account for 22 of the building’s 55 studios. Located at 335 East 27th Street on the border of Gramercy and Kips Bay, the building has units that range in size from 260 to 360 square feet. One person […]

September 1, 2015

NYC’s First Micro Apartment Complex Now Accepting Applications, Units $950/Month

We knew this day was quickly approaching; just a couple of months ago, we reported that My Micro NY (also known as Carmel Place), the city's first micro apartment complex, was fully stacked, reaching its 120-foot height at 335 East 27th Street on the border of Gramercy and Kips Bay. Now, Brick Underground reports that the $17 million development began accepting applications this morning for its 260- to 360-square-foot affordable studios. According to the site, the available units are "11 $950/month studios for one person earning between $34,526 and $48,350, or two people making between $34,526 and $55,250; and three $1,492/month studios for one person making between $53,109 and $78,650, or two people making between $53,109 and $89,830."
Find out how to apply here

September 1, 2015

Modern Two-Bedroom in Williamsburg Comes With a Dreamy Outdoor Space

By Emily Nonko

If you're on the hunt for a modern condo unit (and aren't shopping on a strict budget), Williamsburg is one Brooklyn neighborhood that is full of them. Here's the top-floor unit at 317 South 4th Street, a boutique condo with four total units—a two-bedroom, two-bathroom on the market for $1.45 million. The floor-through apartment has all modern finishes, lots of glass, a private balcony and even a 700-square-foot roof garden.
See more of it

September 1, 2015

Live in the City’s First Crowdfunded Condo Tower; Staten Island Making Million Dollar Penthouse Sales

There’s a new app available that connects individuals with professional movers with half-empty trucks. [AT] Units at Manhattan’s first crowdfunded condo building will soon hit the market. [Bloomberg] Spike Lee officially unveiled Do The Right Thing Way in Bed-Stuy on Saturday. [BKPaper] Has Staten Island finally arrived? A slew of $1+ million sales reveal increasing interest […]

Real Estate Trends

September 1, 2015

Building Permits Decline by 90 Percent Following Changes to the 421-a Program

Early last month, we reported that building permits were soaring to levels not seen since the 1960s. Now Crain's tells us that the trend has taken a sharp decline with permits plunging a whopping 90 percent from June. The numbers, which were pulled from the latest stats released by the U.S. Census Bureau, point to changes in the very generous tax breaks provided by the 421-a tax abatement program as the culprit.
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August 31, 2015

Real Estate Dating Deal Breakers; Our Dangerous Love Affair with Fire Escapes

New Yorkers reveal their real estate dating deal breakers on camera. [BrickUnderground] “A fire escape should be an escape from fire; it shouldn’t be an escape from reality.” [NYT] Apartment hunting grief in five stages. [CityLab] The glass at the peak of the Empire State Building is being replaced. [WSJ] Images: Subway map (L); Fire […]

Real Estate Trends

August 31, 2015

Revealed: Floor Plans and Pricing for Jean Nouvel’s MoMA Tower

After progress crept along for nearly ten years, Jean Nouvel's highly anticipated MoMA Tower, officially known as 53W53, is now inching closer to the finish line. A year ago we got a peak at unofficial penthouse floorplans, and the first interior renderings were revealed in February, followed by a pre-sales-launch video of the interiors in May. Now, the Post has uncovered floorplans and pricing for three of the units in the 1,050-foot, 82-story asymmetrical tower. They include a 3,846-square-foot, 55th-floor three-bedroom asking $21.7 million; a smaller 55th-floor three-bedroom for $14.42 million; and a 4,362-square-foot, 72nd-floor three-bedroom duplex going for $39.2 million.
More floorplans and pricing

August 28, 2015

OKCupid Co-Founder Picks Up a Greenpoint Townhouse for $2.12M

By Annie Doge

A co-founder of everybody's favorite dating site OKCupid has just scooped up a sweet townhouse at 925 Lorimer Street in Greenpoint, according to property records just released. Christian Rudder—now a budding musician and father—was listed alongside his Bishop Allen bandmate Michael Tapper (also of We Are Scientists fame) on the sale. The home, which is described as "3,400 square feet of endless opportunities" is sure to offer the pair and their friends a "typical Friday night" that's anything but typical.
Have a closer look inside here

August 28, 2015

New Renderings of Fisher Brothers’ Curvy Murray Hill Rental at 225 East 39th Street

It's always a pleasure when a hulking above-ground parking garage bites the dust; this is not Miami after all, take the subway! And thanks to the legendary real estate firm Fisher Brothers, a soul-crushing 705-car parking garage at 225 East 39th Street was razed last year in preparation for an elegant 36-story rental tower. New renderings posted on the development firm's website illustrate how the tower may bring a bit of pizzazz to a rather un-glamorous section of Murray Hill. With completion scheduled for spring 2017, groundwork is well underway with sections of the foundation slab poured and steel rebar projecting skyward.
More on the project ahead

August 27, 2015

How to Deal with a Break-Up When You Share Real Estate; Penthouse Sale in Williamsburg Sets a Record

Things that you shouldn’t waste your money on. [BI] Dealing with a break-up in NYC when you share a home with your partner. [BU] The city will spend $100M to stormproof lower Manhattan. [NYDN] A $6.5M penthouse sale at the Oosten has set a record for Williamsburg. [Curbed] Bill Ackman—a.k.a. the owner of NYC’s second most expensive […]

Real Estate Trends

August 27, 2015

Construction Update: Loggia-Crowned Condominium Finally Rises Next to Bryant Park

Bryant Park is one of the city's most cherished spaces, providing a much-needed oasis from the stone and glass canyons of Midtown. But debuting in 2017, a mixed-use tower will grant home buyers their first opportunity to purchase condos directly alongside the ten-acre respite. Simply named the Bryant, the 200,000-square-foot building at 16 West 40th Street will house 57 condo units perched 200 feet above a five-star boutique hotel within the tower's lower levels. The 32-story, 361-foot-high building is being developed by the very-active HFZ Capital, led by Ziel Friedman, and is designed by renowned British architect David Chipperfield, with Stonehill & Taylor serving as the architects of record.
More details ahead

August 26, 2015

Saudi Prince Is New Owner of Joan Rivers’ Lavish Penthouse, Will Undertake a Gut Renovation

By Annie Doge

Initial reports told us that Joan Rivers' opulent Upper East Side penthouse had sold for its asking price of $28 million to a Middle Eastern buyer. And now the Post confirms that the new owner is 65-year-old Saudi prince Muhammad bin Fahd. More newsworthy, though, is the fact that the prince plans to completely gut the 5,100-square-foot triplex, meaning it will lose its legendary gilded details that Rivers once called "Louis XIV meets Fred and Ginger."
Find out more

August 26, 2015

Is the U.A.E. Building a Massive Uptown Mansion?; The Priciest Cities for Singles and Families

The most expensive U.S. cities for single folks and families. [Wonkblog] Is the United Arab Emirates building a mega-mansion on the Upper East Side? The Permanent Mission of the UAE to the United Nations has just closed on two neighboring buildings worth $47.25M. [NYDN] Here’s where Red Hook and Buttermilk Channel draw their names from. [Brownstoner] The world’s […]

Real Estate Trends

August 26, 2015

Handel Architects’ Luxurious ‘Amalfi’ Condo Tower Will Now Be Swanky Senior Living Pads

Here's a closer look at Handel Architects' design of a would-have-been condominium tower at 305 East 93rd Street, named The Amalfi. The five-parcel site located at the northeast corner of Second Avenue and East 93rd Street in Yorkville was slated to be developed by Merchants Hospitality until they recently bowed out to a senior living developer, Maplewood. Handel Architects' energetic design of staggering double-height windows, deeply set within a concrete frame was planned to rise a sheer 29-stories above Second Avenue. A lower four-story wing along 93rd Street would have been topped by an outdoor swimming pool. The tower's structural dynamism recalls the firm's recently finished rental tower, 170 Amsterdam on the Upper West Side, that flaunts a diagrid concrete exoskeleton. While the firm will remain the building's designers, it is unclear how much of the shown condominium design will be retained. Considering the project will now be re-tinkered for senior living, we're expecting a little less Amalfi and a bit more Fort Myers.
Find out more here

August 26, 2015

Construction Update: Perch Harlem, Manhattan’s First Passive House Rental Building, Rises

A tipster has alerted us that Manhattan's first market-rate rental building built to passive house standards has reached street level. Dubbed Perch Harlem, the soon-to-be-seven-story structure is located in the uppermost reaches of Harlem's Hamilton Heights section at 542 West 153rd Street, between Broadway and Amsterdam Avenues. "Perched"on a ridge 150 feet above sea level, the site overlooks the bucolic grounds of Trinity Cemetery, which is the only active burial ground on the island. The project's forward-thinking developers, the Synapse Development Group with its investment partner Taurus Investment Holdings, purchased the 10,000-square-foot former parking lot back in December of 2013 and have since been growing their Perch brand of passive house buildings that focus on low-impact living and community-oriented design. A second Perch building is slated for Williamsburg at 646 Lorimer Street.
Find out more about Perch Harlem

August 25, 2015

INFOGRAPHIC: Ten Years of Trump

Love him or hate him, not a day goes by anymore without Donald Trump making headlines. But the Donald was turning heads and raising eyebrows long before he launched his [fill in the blank] presidential campaign. As CityRealty notes, “Over the years, Donald Trump’s buildings have commanded a premium in New York’s pricey real estate […]

August 25, 2015

How Many Trump Buildings Does Donald Actually Own?; Family-Friendly Luxury Hotels in NYC

Not all NYC buildings bearing Trump’s name are actually owned by him. [WNYC] Russian princess Kristina Kovalenko has put her Upper East Side pad on the market for $11M. [Curbed] An underground leak at the World Trade Center complex may be coming from the river wall built to separate the site from the Hudson. [DNA Info] No need […]

Real Estate Trends

August 24, 2015

FAO Schwarz May Open at the Brill Building; Fredrik Eklund Is Selling His Furniture

Million Dollar Listing star Fredrik Eklund is selling his furniture online. [Luxury Listings] The city D.A. may go after the $85M estate of Arthur Mondella, the Red Hook maraschino cherry factory owner who also used his space as a secret pot farm. [DNA Info] FAO Schwarz and Toys “R” Us are in talks to open up a combo […]

Real Estate Trends

August 24, 2015

Preston Scott Cohen Builds a Brilliant Upstate Home from an Old Dutch Barn

By Ana Lisa Alperovich

To create the beautiful Goodman House, architect Preston Scott Cohen had to transport, restore and re-assemble a Dutch barn frame at a new location in Pine Plains, NY. The structure affords an unpolished but warm atmosphere with open-plan interiors wrapped in an industrial skin. The space was crafted to follow the client's desire for an "excessively lit space" with an "undivided interior," and as such, the home uses an ample number of slide-up screens and roll-down glass doors to make way for an open abode with a modern aesthetic.
Learn more about this contemporary barn-home

August 21, 2015

Model Agyness Deyn’s $3.6M Former Williamsburg Loft Has a Tax Bill of Just $24 a Year

By Michelle Cohen

A renovated 2,911 square-foot corner loft in Williamsburg's Mill Building at 85 North 3rd Street just hit the market for $3.6 million. The spacious loft condominium with dramatic open spaces and original details is the former home of Brit model Agyness Deyn, who bought the Northside pad for $1.97 million in 2008 and sold it in 2012 for $2.175M. New owners have given it a rustic-luxe update and hope to keep the upward trend going, with a current ask of $3.65 million. An expensive loft in the 'burg wouldn't faze us, (and the building has an impressive menu of amenities–doorman, garage, roof deck–for a loft), but the tax bill was a shocker: Taxes on the pricy pad are a mere–as per the listing–"unheard-of $24 a year," due to a J-51 exemption and tax abatement in effect until 2025.
Find out why the taxes are so low

August 20, 2015

City Defends Supertalls, Won’t Limit Size of Midtown Towers

By Michelle Cohen

The Department of City Planning announced that although it shares residents' concerns about the effects of the new crop of supertall towers rising near Central Park, it does not intend to lower the size limits on buildings in the dense Midtown district. Crain's reports that department director Carl Weisbrod said in a written response to elected officials on August 12 that the slender structures may actually preserve historic buildings nearby and that they enhance the city's iconic skyline.
Read more on the city's response

August 20, 2015

New Board Game Lets You Raze and Rebuild NY; Citywide Ferry Service Plan to Be Presented Tonight

The de Blasio administration is renegotiating the terms of the redevelopment of Willets Point, Queens. [Crain’s] Why some billionaires are bad for growth. [Wonkblog] Billionaire Ken Griffin may be buying a 220 Central Park South pad. [NYP] The mysterious cottage atop an East Village building is now in contract. [Curbed] For a good time with friends and family try […]

Real Estate Trends

August 19, 2015

REVEALED: Bland Apartment Tower Replaces Karl Fischer’s Indigo Hotel Design in Downtown Brooklyn