Last July, the average Manhattan sales price hit a record of $1.8 million, which signaled it was only a matter of time before it crossed the $2 million mark for the first time ever. Eight months later, that’s exactly what’s happened, notes DNAinfo. According to Douglas Elliman’s 2016 first quarter Manhattan sales report, the average sales price climbed $2,051,321, a five percent increase from 2015’s fourth quarter average of $1.9 million and an 18 percent increase from the same time last year when the average was $1.7 million. Additionally, the average price per square foot is now $1,713, a 35.6 percent from last year. The rise is attributed to limited resale inventory and increased closings in new developments, further evidenced by the fact the average sales price in this high-end market is $3.9 million, and the number of closings nearly doubled over the past year. And when we look at the luxury market, average sale prices hit a whopping $8.3 million.
Who would have thought the hottest new address downtown would be along the approach to the Holland Tunnel? Recently, we published a new set of images showing a Renzo Piano-designed condo tower to rise at 565 Broome Street, last week we unveiled S9 Architects’ renderings of a 30-story residential building to rise at 111 Varick Street, and now here’s our first look at another stack of condos slated for 570 Broome Street.
The rendering posted on the project site’s construction fence shows a smart design of staggered setbacks and window groupings that offer an interesting solution to the area’s tightly prescribed building envelopes. Designed by Tahir Demircioglu, builtd‘s facade is composed of a warm stone that clads both the lot-line walls and frames three-story high expanses of glass.
On a rather typical East Harlem block, along 112th Street between First and Second avenues, Soho-based architecture firm, TRA Studio has drawn up plans for a 22-unit condominium that will mend a once derelict site back into Manhattan’s taut urban fabric. Commissioned by Gotham LP, the seven-story building will rise from a 60-foot wide, 5,000 square-foot parcel that is a third smaller than a new American home’s median lot size. With the city’s built-in efficiency already in place, TRA sought to go further and will implement low-energy strategies such as super-insulated glass windows and long rows of sun-shading terraces along the rear will reduce the building’s environmental footprint.
In the shadow of the Williamsburg Bridge and across from the massive Domino Sugar Factory redevelopment underway by Two Trees, a tiny corner site at 349 Kent Avenue and South 5th Street will give rise to a six-story, 10-unit residential building designed by Brooklyn-based Workshop DA.
The 4,000 square-foot lot was purchased for $1.3 million by Eugene Bushinger’s 351 Kent Realty LLC in early 2011 and in May, it was reported that building permits were filed for a 15,300 square-foot residential building. The pre-existing, two-story structure that once provided a welcome splash of color along the Brooklyn Greenway has since been demolished. Its worn, brick faced boasted a geometric and robot-infused mural painted by R. Nicholas Kuszyk (a.k.a. RRobotsollaboration) with How and Nosm in 2011.
- WeWork wants to bring a 205-unit tower to Wall Street. [Curbed]
- 150 words that only architects use. [ArchDaily]
- Silverstein Properties, the developer of the World Trade Center, has dropped plans to build the city’s tallest residential tower on the West Side. The supertall would have had 1,400+ units. [NYDN]
- Of the city’s more than 3,000 unionized building superintendents, only a few dozen are women. [NYT]
Find Out When Your Nabe Will Be Sprayed for West Nile; How Important Are Big Name Brokers to Their Firms?, Wed, September 9, 2015
- Activists are taking a stand against billionaire Barry Diller’s plan to build a floating park. [NY Post]
- How much do big firms rely on their top name brokers for revenue? [TRD]
- Here’s the city’s schedule of “West Nile Spraying Events.” Find out when your neighborhood is up. [NYC.gov]
- The artist-owned NY Studio Gallery at 154 Stanton Street in the Lower East Side has sold for a whopping $4.8M. [CO]
Images: The Million Dollar Listing crew (L); Mosquito (R)
- Venus and Serena Williams Sell Midtown West Apartment for $2M
- The Bronx Is Getting a New Mixed-Use High-Rise Near Yankee Stadium
- Facebook Co-Founder Lists His Elegant Bespoke Soho Loft for $8.75M
- First Look at 23-Story Condominium Replacing Greenwich Village’s Bowlmor Lanes
- New York Times Custom Birthday Book Features Every Front Page Since Your Birth
- Inside Hillary and Bill Clintons’ Sprawling $100K Hamptons Rental
This Week’s Features
- The New LaGuardia Airport: Not Functional, Not Inspiring, Not an Icon
- My 350sqft: A Modern Bachelor Opens Up His Creative and Clever Brooklyn Heights Studio
- Green, Grand, Great Eats: A History of Jackson Heights and Its Future as the Next Hot ‘Hood
- Art Nerd New York’s Top Event Picks for the Week, 8/13-8/19
- New Yorker Spotlight: BriAnne Wills, Creator of the Latest Internet Sensation ‘Girls and Their Cats’
- Supermodel Gemma Ward has made a $2.25M sale on her East Village apartment. [NYDN]
- Opinion: Want more affordable housing? Create more transit. [Grist]
- Woody Johnson’s ex-wife is being sued over her 817 Fifth Avenue condo sale. The brokerage who handled the sale says she owes them $810K. [NYP]
- After much protest, the city has ordered the architect pushing to remove fire escapes from two Soho buildings to stop. [DNA Info]
- More and more restaurateurs are buying instead of renting. [CO]
- Harlem is “going to be amazing in a few more years.” [Gothamist]
Images: Gemma Ward’s now former E. Village home (L); NYC bus (R)
- Douglas Durst recounts life with his brother Robert while growing up. Here’s a tidbit: “I was always amazed that he had friends, because from what I saw, I didn’t see how anyone would see him as someone they wanted to be friendly with. Obviously, he is someone able to assume various identities as it pleases him.” [NYT]
- WXY Studio has unveiled plans for the “Brooklyn Strand,” a brand new greenway that will stretch between Brooklyn Heights and DUMBO.[Brownstoner]
- The NYC luxury real estate market has seen the world’s greatest price surge. [The Real Deal]
- Buy a Sandy-ravaged property for as little as $28,000. [Brick Underground]
Images: Brooklyn Strand © WXY Studio (L); Douglas and Robert Durst (R)
Daily Link Fix: Frank Gehry Gives Today’s Architecture the Middle Finger; Om/One Is a Levitating, Wireless Speaker, Fri, October 24, 2014
- Yes, Frank Gehry literally gave today’s architecture the middle finger, saying that 98% of what’s built today is sh*t. Get more details on Dezeen.
- Your Life on Earth by BBC on Archinect tells you how the world has changed since the day you were born. You’ll find out factoids like how many times your heart has beaten and how many volcanoes have erupted.
- The Bronx’s only bookstore is saved! Barnes & Noble extended its lease for two years, according to Gothamist.
- I Quant NY found the house in Brooklyn that is farthest away from the subway.
- Impress your guests with this levitating, wireless speaker. Called Om/One, the orb is the creation of Oakland-based Om Audio. Check it out on Dwell.
- Why do we drive on parkways and park on driveways? Mental Floss has the answer.
Images: Frank Gehry (L); Om/One via Om Audio (R)