Real Estate Trends

New York City's largest office-to-residential conversion is flaunting its latest luxury residence. Construction has officially wrapped up at the Art Deco landmark One Wall Street, formerly the headquarters for the Irving Trust Company and now a 566-unit residential tower. Following that milestone, new images were released last week of one of the building's most impressive apartments, Residence 3404. The home represents a unique collaboration between interior designer Guillaume Coutheillas of frenchCalifornia and One Wall Street developer Harry Macklowe, who hand-picked all of the art seen in the three-bedroom apartment.
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Flatiron Building future uncertain as buyer fails to pay deposit

Image courtesy of Jauher Ali Nasir on Flickr

March 29, 2023

Flatiron Building future uncertain as buyer fails to pay deposit

After placing a winning bid of $190 million for the Flatiron Building during a live auction last week, Jacob Garlick of Abraham Trust missed the deadline to make the down payment, as first reported by NY1. After placing the winning bid, Garlick was required to pay a 10 percent deposit of $19 million by Friday but has yet to do so. This could mean another auction will be set for the iconic property.
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Real Estate Trends

$599K Harlem condo has penthouse views and outdoor space, without the penthouse price

Photo credit: DDreps for The Corcoran Group

March 29, 2023

$599K Harlem condo has penthouse views and outdoor space, without the penthouse price

Atop the Style Condominium at 51 East 131st Street, a 21st-century addition to the vibrant East Harlem neighborhood, this one-bedroom condominium is a compact top-floor residence with private outdoor space and renovated interiors. Asking $599,000, the 658-square-foot home has unobstructed penthouse views and light to match, without the penthouse price.
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This $3M full-floor Red Hook condo has a Mediterranean vibe, two terraces, and parking

Photo credit: Allyson Lubow

March 24, 2023

This $3M full-floor Red Hook condo has a Mediterranean vibe, two terraces, and parking

This 1,800-square-foot full-floor Brooklyn condo at 96 King Street, asking $2,950,000, offers three bedrooms and two-and-a-half baths. Organic architectural details like arched doorways and unique textures, shapes, and colors combine to give the newly-minted home a sunny, modern Mediterranean feel. Two terraces provide outdoor space for enjoying summer evenings in this lively and eclectic neighborhood; the three-unit building offers private parking for the car you'll need for life in Red Hook.
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NYC’s iconic Flatiron Building has sold for $190M

Photo by David Becker on Unsplash

March 23, 2023

NYC’s iconic Flatiron Building has sold for $190M

New York City's iconic Flatiron Building has sold for $190 million. During a live public auction in Lower Manhattan on Wednesday, Jacob Garlick of Abraham Trust placed the winning bid over one of the historic landmark's previous owners, Jeffrey Gural of GFP Real Estate, as the Real Deal reported. Earlier this month, a judge approved a partition sale of the property to resolve a longstanding dispute among its owners.
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Real Estate Trends

All photos by Russ Ross for The Corcoran Group

March 20, 2023

Live large indoors or out at this $1.8M Boerum Hill condo with a two-level deck and bedroom balcony

If you crave outdoor space with your city living, this two-bedroom Boerum Hill condo at 52 Third Avenue is a triple threat. Asking $1,795,000, this top-floor apartment has three separate decked terraces ready to become a multi-level garden paradise–or party space–complete with skyline views. You don't have to sacrifice indoor living, either, with 1,000 square feet of interior space.
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Historic McGraw-Hill Building in Hell’s Kitchen to add 224 rentals

Rendering courtesy of MdeAS Architects

March 13, 2023

Historic McGraw-Hill Building in Hell’s Kitchen to add 224 rentals

The 35-story landmarked McGraw-Hill Building in Hell's Kitchen will soon be home to 224 luxury rentals. As first reported by the New York Post, the project includes the redesign of the building's office space, the construction of a second lobby and entrance, and the restoration of the McGraw-Hill name above the residential entrance. Floors 12 through 34 of the Art Deco skyscraper will be converted to residential use, which will cost an estimated $100 million. Work will begin this summer.
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Real Estate Trends

See Jersey City’s $500M plan to redevelop a public housing complex into massive mixed-use community

All renderings courtesy of PS&S Architects

March 6, 2023

See Jersey City’s $500M plan to redevelop a public housing complex into massive mixed-use community

An innovative plan to redevelop a public housing project in downtown Jersey City into a massive new community with over 600 units of housing is moving forward. The Jersey City Housing Authority (JCHA) voted to select WinnDevelopment to oversee the revitalization of the 80-year-old Holland Gardens complex, which involves razing all five existing buildings and constructing four new high-rise towers that will be home to senior housing, for-sale condos, public housing units, market-rate rentals, and community space. The $500 million project will be about 50 percent affordable, Mayor Steven Fulop announced last week.
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Historic Flatiron Building headed to auction to end dispute between owners

Photo by Jermaine Ee on Unsplash

March 3, 2023

Historic Flatiron Building headed to auction to end dispute between owners

New York City's iconic Flatiron Building will be put up for auction to resolve a dispute between its current owners, according to a recent judgment filed in state Supreme Court. As first reported by PincusCo, the decision to sell the vacant landmarked building was made by GFP Real Estate, Newmark, Sorgente Group, and ABS Real Estate Partners, which make up 75 percent of the building's owners. The auction is set to take place on March 22 with Mannion Auctions.
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Real Estate Trends

Ex-Good Morning America anchor Amy Robach and husband Andrew Shue sell NYC co-op for $5.1M

Former "Good Morning America" anchor Amy Robach and her husband Andrew Shue have sold their West Village apartment for $5,100,000, according to property records. The estranged couple put their co-op at 59 Barrow Street on the market last September and the property entered contract in November, just before news broke of Robach's relationship with co-anchor T.J. Holmes. Records show the deal closed at the end of February.
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If you love pattern and color, this $1.5M Williamsburg condo is for you

Photo courtesy of The Corcoran Group

March 2, 2023

If you love pattern and color, this $1.5M Williamsburg condo is for you

If you love closet space–you may want to look elsewhere. This two-bedroom, two-bath unit at 221 Devoe Street in Williamsburg has plenty of appeal. Asking $1,495,000, the modern north Brooklyn condo was featured in House Beautiful; the 1,108-square-foot penthouse has an impressive landscaped 300-square-foot terrace, a wealth of art-inspired interior design–and a notable dearth of closets.
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Rupert Murdoch buys $30M Central Park South co-op

The Hampshire House is known for its steeply-pitched copper roof with two tall chimneys; Photo via Wikimedia Commons

February 28, 2023

Rupert Murdoch buys $30M Central Park South co-op

Media giant Rupert Murdoch is in contract to purchase a full-floor co-op on Billionaires' Row. As first reported by the Wall Street Journal, the News Corp founder bought a 6,500-square-foot apartment on the 27th floor of the Hampshire House that was last listed for $30,000,000; the final sales price has not been made public. The seven-bedroom, five-bathroom residence was the longtime home of late hedge-fund magnate Julian H. Robertson Jr. and famed philanthropist Alice Tully.
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Manhattan apartments are bigger now than a decade ago

Photo by Goh Rhy Yan on Unsplash

February 23, 2023

Manhattan apartments are bigger now than a decade ago

Believe it or not, new apartments in Manhattan are getting bigger. Despite being notorious for its small, compact apartments, Manhattan rentals actually gained an average of 19 square feet since 2013, an increase of 3 percent, according to new data released this week by RentCafe. The borough is an outlier when looking at the rest of the country, where newly constructed units continue to shrink in size, and even compared to other parts of New York City. The average space of new rentals in Brooklyn and Queens decreased by seven percent over the last decade, costing renters roughly 45 square feet.
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Real Estate Trends

Plans unveiled for David Adjaye’s Restoration Plaza revamp in Bed-Stuy

Renderings courtesy of Adjaye Associates

February 17, 2023

Plans unveiled for David Adjaye’s Restoration Plaza revamp in Bed-Stuy

Plans to transform Brooklyn's Restoration Plaza into a global cultural and economic hub were unveiled this week. Non-profit Bedford Stuyvesant Restoration Corporation on Thursday released renderings and new details of its plan to reimagine its headquarters with an 840,000-square-foot mixed-use campus designed by renowned architect Sir David Adjaye. The plan expands and modernizes existing space, adds office and retail space, and creates new public open space in the heart of Bed-Stuy. According to the developer team, the Innovation Campus is a direct response to the country's racial wealth gap, particularly the economic barriers Black New Yorkers face in Brooklyn.
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Take a tour of a duplex penthouse at Jean Nouvel’s tower above MoMA

Image courtesy of Evan Joseph

February 15, 2023

Take a tour of a duplex penthouse at Jean Nouvel’s tower above MoMA

New images of a fully-furnished penthouse atop Pritzker-Prize-winning architect Jean Nouvel's tower 53 West 53 were released this week, showing off the one-of-a-kind duplex apartment's soaring ceiling heights, expansive living spaces, and breathtaking views of Central Park and the city skyline. The four-bedroom, three-and-a-half bathroom penthouse was designed by Fox-Nahem Associates in collaboration with Elle Decor and spans nearly 8,000 square feet across the 76th and 77th floors of the Midtown Manhattan skyscraper. Although this penthouse is not currently on the market, the identical unit above it, Penthouse 78, is available for $64,730,000.
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New York City rents hit record highs in January

Photo by Rachel Martin on Unsplash

February 13, 2023

New York City rents hit record highs in January

Moving during the winter in New York City once meant lower rents and more incentives. But according to a new report from Douglas Elliman and Miller Samuel, rents in the month of January hit, or nearly hit, record highs in Manhattan, Brooklyn, and Queens.
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Real Estate Trends

New Jersey home seen in ‘The Amityville Horror’ sells for $1.5M

Photos courtesy of Motion City Media/ Childers Sotheby’s International Realty

January 30, 2023

New Jersey home seen in ‘The Amityville Horror’ sells for $1.5M

The New Jersey home seen in the 1979 film "The Amityville Horror" has found a buyer. Located in Toms River in Ocean County, the waterfront property at 18 Brooks Road was used as a stand-in in the horror movie for the real-life "haunted" house on Long Island. After first listing for $1.7 million this past September, the four-bedroom home recently closed for $1.46 million.
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Real Estate Trends

Latest luxury rental on the Lower East Side has three floors of ‘micro-units’

All renderings courtesy of Conway and Partners, unless otherwise noted

January 23, 2023

Latest luxury rental on the Lower East Side has three floors of ‘micro-units’

A big new residential development on the Lower East Side is going small. When it opens this spring, the 30-story 55 Suffolk Street will offer three floors of "micro-units," apartments that measure between 315 and 350 square feet and feature space-saving built-in furniture and storage. Developed by the Gotham Organization, the building, dubbed The Suffolk, includes 378 total residences, indoor and outdoor amenities, and a new home for the Chinese-American Planning Council. This week, the building released a teaser site and 6sqft got a first look at the unique new development.
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$10M penthouse at Robert A.M. Stern’s Claremont Hall sets sales record for Morningside Heights

Renderings courtesy of Binyan Studios

January 20, 2023

$10M penthouse at Robert A.M. Stern’s Claremont Hall sets sales record for Morningside Heights

A penthouse at a Robert A.M. Stern-designed tower in Morningside Heights is in contract for $10 million, marking a record for the Manhattan neighborhood. The full-floor residence sits atop Claremont Hall, a 41-story building located within the campus of Union Theological Seminary. Positioned at one of the highest points in the area, Penthouse 41 is a four-bedroom, four-and-a-half-bath home with stunning city, park, and river views.
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Real Estate Trends

NYC’s first all-electric skyscraper tops out in Downtown Brooklyn

Image courtesy of Selvon Ramsawak

January 18, 2023

NYC’s first all-electric skyscraper tops out in Downtown Brooklyn

New York City's first fully electric skyscraper topped out in Downtown Brooklyn this week. The 44-story building 100 Flatbush is part of the first phase of Alloy Block, a mixed-use five-building development designed by Alloy Development to have 850 apartments, 200,000 square feet of office space, and two public schools. 100 Flatbush will contain 441 mixed-income residences, 396 of which will be market-rate rentals and 45 separate affordable residences, and 30,000 square feet of retail space.
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$17.5M penthouse becomes Dumbo’s most expensive sale

Renderings courtesy of March Made

January 17, 2023

$17.5M penthouse becomes Dumbo’s most expensive sale

A penthouse in Dumbo has sold for $17,500,000, becoming the neighborhood's priciest sale on record. The four-bedroom penthouse sits atop the new 33-story waterfront development Olympia Dumbo, which was recently crowned 6sqft's Building of the Year. At $4,102 per square foot, the deal also marks the most expensive condominium sponsor sale concerning price per square foot in Brooklyn.
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Civil rights lawyer William Kunstler’s former Village townhouse sells for $6.5M

Photos courtesy of Brown Harris Stevens unless otherwise noted

January 10, 2023

Civil rights lawyer William Kunstler’s former Village townhouse sells for $6.5M

The Greenwich Village townhouse of late civil rights attorney William Kunstler sold last month for $6,500,000, according to CityRealty. Kunstler, who famously defended the Chicago Seven, Malcolm X, Adam Clayton Powell, Jr., and others, and his wife, attorney Margaret Ratner Kunstler, paid $225,000 for the townhouse in 1981, as the Wall Street Journal reported. Located at 13 Gay Street, the four-story brick Greek Revival townhouse was built in 1844 and retains the same 19th-century charm of its neighbors.
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Iconic yellow ‘Domino Sugar’ sign returns to Brooklyn

Photo by Wes Tarca

December 21, 2022

Iconic yellow ‘Domino Sugar’ sign returns to Brooklyn

An iconic sign that was part of the Brooklyn skyline for nearly a century has returned to its rightful place. A replica of the 40-foot Domino Sugar sign was installed and fully illuminated this week atop Williamsburg's Domino Sugar Refinery building, which was part of a massive sugar factory that operated from the 1880s to the early 2000s. Located at the 11-acre Domino Sugar redevelopment, the landmarked 19th-century building is currently being transformed into a modern commercial building.
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Photo credit: Brown Harris Stevens

December 7, 2022

For $1M, this tidy West Village railroad pad is cute as pie and has a private back patio