- During the week May 26th, NYC saw 254 condominium and cooperative sales, averaging $2.3M and $1.5M a sale respectively. The three most expensive closings were on the UES and in Nolita. Egyptian billionaire Nassef Sawiris made history with his $70M penthouse buy – the most ever paid for a co-op.
- In celeb real estate news, new-age author and physician Deepak Chopra ditched his mediocre Park Imperial pad and even managed to make more than a million dollars in the process; Simon Cowell on the other hand put down $10.85M for his family’s new ultra-luxe UES home.
- Industrial Revolution: While designers (and developers) are favoring ridiculously tall glass towers, architect Morris Adjmi is returning to the fundamentals by designing subtly distinct, timeless buildings that blend seamlessly into their historic neighborhoods. We profile Adjmi in this week’s issue.
- For the week of May 19, 2014, 81 condos sold for an average price of $3.1 million, while 123 coops sold for an average of $1.3 million. The Walker Tower, One57, and the newly opened Marquand stole the top three spots for most expensive sales that week.
- NYC’s soon-to-be-tallest residential tower at 432 Park Avenue surpassed its 1,000-ft mark this week and is now taller than any rooftop north of the Empire State Building. The Vinoly-designed building will top out at 1,397 feet – taller even than One World Trade Center.
- Beauty or beast? We take a closer look at the Herzog & de Meuron-designed 40 Bond — form, function, sales prices and all.
- Kentile Sign to Come Down: Sadly, the Kentile Floors will have to come down, but it won’t be destroyed. The New York Times has more on the sign’s fate.
- A Lone Pie Protestor: When the Orange is the New Black themed truck started handing out free pies, we seriously doubt they expected to be protested. But one former prisoner wasn’t having it. And she told the Observer why.
- 345 Carroll Street Condo’s Launch Sales: Demolition has begun on the Regency Carts building and Sterling Equities has launched sales for the new development on Carroll Street. The Brownstoner has more details about the new condominium.
- New Places to Check Out in the Hamptons: It’s summertime which only means one thing for New Yorkers – a mass exodus for the Hamptons. The Real Deal has the scoop on the new hotels, restaurants, and stores popping up that are all the rave.
- Times New Roman is So Yesterday: Everyone knows the font but designers rarely use it. FastCo. examines why.
- Is Williamsburg the New Soho?: The hip Brooklyn neighborhood is showing all the signs of a pre-adolescent Soho back in the day. The Wall Street Journal predicts its future.
Images: Kentile Floors sign (left), 345 Carroll Street rendering (right)
- Leading into summer, the market continues its roller coaster ride — we’re seeing sharp increases in sales following an unexpected lull in the typically active spring season. For the week of May 12th, the city recorded 233 sales; Manhattan condos sold for an average of $3 million, while co-ops pulled in an average $1.3 million.
- One57 scored not one, but two of the most expensive sales of the week at $30.5 million and $17.8 million. But it was celeb favorite, 15 Central Park West, that staked claim to the top spot with a buyer paying $48 million for the keys to #1819B.
- The real-estate flip: We all know someone who knows someone who managed to buy at the right moment only to sell it months later for an exorbitant sum. We look at three of NYC’s biggest moneymakers in the last three years. One of which comes courtesy of the Winklevoss Twins.
- Despite sky-high sales at several marquis buildings, condo pricing in Manhattan is down 1.8 percent in the current three month period as compared to the last 90 days.
- Hotelier Ian Schrager has released renderings for his long-awaited mixed-use condo hotel – Public – at 215 Chrystie Street on the Lower East Side.
- Is Jake Gyllenhall apartment hunting in Tribeca?
- New York City versus…. San Francisco?! How two of the priciest cities in the US compare in a head-to-head real estate challenge evaluating the “grittiest” and most glamorous neighborhoods of the two.
- Flatiron and Midtown West have seen dramatic neighborhood price increases over the last 90 days. And surprise, surprise, sales in One Madison and the uber pricey, uber tall One57 are the two forces driving the change.
- Azad Ali talks about two decades spent preserving and restoring old homes in Prospect Park South, Ditmas Park and Midwood in Brooklyn.
- Fans of Breakfast at Tiffany’s will want to check out the $10 million listing for that little townhouse where fictional Holly Golightly entertained her many suitors.
- Learn about Mexico-born Ismael Leyva, the workhorse architect who has risen to prominence designing interiors for Related Companies projects like One Carnegie Hill, the TriBeCa Royale and The Brompton.
- In the race to the top, which “blue chip” condominium building can call itself the best of the best? 15 Central Park West? One Madison? Or Does Donald Trump’s tower along 5th Avenue reign supreme?
- Multi-tasking: Janet Jackson may soon be able to add the title ‘landlord’ to her resume.
- Which neighborhood has the most coveted real estate? Tribeca, the Flatiron District, Soho, or the West Village? Give us your best guess in the comments, and find out what buyers have been willing to fork over per square foot in our report.
Pritzker Prize winning architects are selling on average 47.5% higher than the Manhattan market average? Leonardo DiCaprio the real estate investor?
What are the tallest condo buildings under construction right now? Is Taylor Swift buying of a pair of penthouses in Tribeca? And why are buyers flocking to Sutton Place and Beekman Place?