Manhattan

Floor plans of the Crown Building's crown jewel, its five-story penthouse, have revealed what $100 million will buy you at one of the city's most desirable locations for the super-rich. As the Real Deal learned, the penthouse features two swimming pools, a piano lounge and a full-floor master suite. The 14,000-square-foot pad sits in the actual crown of the building, spanning floors 22-26. The rest of the Billionaires' Row building at 730 Fifth Avenue isn't too shabby either; the building includes an 83-key luxury Aman Resorts hotel with a three-story spa, a jazz and cigar club, a few restaurants and 20 luxury condos.
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Foreclosures and flopped flips pile up at One57, sending grim message to big ticket investors

Image © Wade Zimmerman courtesy of Agence Christian de Portzamparc (ACDP)

November 16, 2017

Foreclosures and flopped flips pile up at One57, sending grim message to big ticket investors

A full-floor, 6,240-square-foot penthouse at Midtown billionaires' bunker One57 recently sold to an unidentified high bidder–one of five contenders–at a foreclosure auction for $36 million. That number is 29 percent lower than the original $50.9 million price shelled out by Nigerian businessman Kolawole Akanni Aluko for the newly-minted condo in 2014. The fire sale was the fourth resale in the 1,004-foot-tall Billionaire's Row flagship trophy tower to trade at a loss, according to data from appraiser Miller Samuel Inc., reports Bloomberg. The latest example is the largest discount to date on one of the pricey properties, all of which sends a message to buyers with plans to cash in on the ultra-luxury units in short order. And there are currently 16 apartments at the building listed for sale, most of them by the developer.
Read on

Real Estate Trends

City Planning gives the go ahead for controversial 800-foot Sutton Place tower

The original rendering of 3 Sutton Place by Foster + Partners

November 16, 2017

City Planning gives the go ahead for controversial 800-foot Sutton Place tower

The City Planning Commission approved a resident-proposed plan to curb the development of supertall, skinny towers in Sutton Place on Wednesday, capping the height of future buildings. However, because of a clause inserted by the commission, projects already under construction will be grandfathered into the current zoning rules. This comes as good news for Gamma Real Estate, the developer currently constructing an 800-foot-tall residential tower, now called Sutton 58, at 3 Sutton Place. Gamma needs to finish the foundation planned for their luxury condominium tower before the city votes on the rezoning proposal, to be immune from new height restrictions (h/t Crain's).
More this way

November 16, 2017

Chelsea townhouse with modern Danish design asks a cool $11M

This Chelsea townhouse at 449 West 24th Street has some bragging rights both inside and out. Exterior-wise, the 21-foot-wide home is surrounded by greenery and outdoor space on a block of other historic townhouses. Inside, over 4,073 square feet, mid-century and Danish interior design has added a unique and modern touch. Big walls of glass, finally, connect the indoor and outdoor elements. If you're digging the connection, the property has just hit the market for a cool $11 million.
Explore each floor

Distinctive Homes

New 40th Street entrance. Credit: Mecanoo with Beyer Blinder Belle

November 16, 2017

NYPL unveils $317M master plan and renderings for iconic main branch

At a Board of Trustees meeting Wednesday evening, The New York Public Library revealed the $317 million master plan that will guide the renovation of the iconic Stephen A. Schwarzman Building on Fifth Avenue and 42nd Street. The plan was developed by Dutch architecture firm Mecanoo and the NYC-based Beyer Blinder Belle. The historic Midtown Beaux-Arts building is home to one of the nation’s leading research libraries as well as historic spaces like the landmarked Rose Main Reading Room, the Maps, Periodicals, and Genealogy reading rooms, and Astor Hall.
This way for more renderings and what's to come

Architecture And Design

November 15, 2017

Historic UES mansion with Michael Jackson and ‘Gossip Girl’ ties asks $39M

By Dana Schulz

The celebrity connections at 4 East 74th Street date all the way back to its construction in 1898 when architect Alexander Welch was commissioned to design the Beaux-Arts townhouse. Welch served as the consulting architect on the restorations of Alexander Hamilton's Harlem home Hamilton Grange and George Washington's headquarters in White Plains. The Upper East Side home was bought by Francis Lynde Stetson and his wife. Corporate attorney Stetson was at one time the law partner of Grover Cleveland. According to Curbed, who first spotted the listing, in more recent years, the 16-room mansion has counted among its residents artist Marc Chagall and Michael Jackson, who rented it in the 90s. The house also stood in as the exterior of Nate Archibald’s residence in "Gossip Girl." It's now owned by billionaire Moroccan-born American hedge fund manager and Milwaukee Bucks co-owner Marc Lasry, who's just listed it for $39 million.
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LPC approves Roman Abramovich’s revised Upper East Side mega-mansion proposal

Image: Landmarks Preservation Commission

November 14, 2017

LPC approves Roman Abramovich’s revised Upper East Side mega-mansion proposal

Shortly after Roman Abramovich added a fourth Upper East Side townhouse to his now-$96-million assemblage on East 75th Street, the Russian billionaire's three-house, 18,000-square-foot mega-mansion plans changed ever so slightly, with renovation efforts to be concentrated on numbers 9, 11 and 13, leaving number 15 out of the running for the mega-combo. As 6sqft previously reported, the steel magnate and owner of the Chelsea Football Club has been working with architect Steven Wang with big-name firm Herzog & de Meuron as a design consultant. The first proposal for the project, “an 18,255-square-foot mansion with a six-foot front yard, 30-foot backyard, and pool in the cellar" was rejected by the Landmarks Preservation Commission and the DOB in April 2016, but a revised plan was approved two months later. Tweaked again to include the new property, the revised plan has been officially approved on Tuesday by the Landmarks Preservation Commission.
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November 14, 2017

Cracking open the stories of NYC’s most historic bars

With rising rents and ever-changing commercial drags, New Yorkers can take comfort that the city still holds classic bar haunts, some of which have been serving booze for over 100 years. Some watering holes, like the Financial District's Fraunces Tavern, played a crucial role in major historic events. Others, like Midtown's 21 Club and the West Village's White Horse Tavern, hosted the most notable New Yorkers of the time. These institutions all survived Prohibition--managing to serve alcohol in both unique and secretive ways--and figured out ways to serve a diverse, ever-changing clientele of New Yorkers up to this day. 6sqft rounded up the seven most impressive bars when it comes to New York City history--and they've got the legends, stories, and ghosts to prove it. From longshoreman bars to underground speakeasies to Upper East Side institutions, these are the watering holes that have truly withstood New York's test of time.
This way for the roundup

Waldorf Astoria will lose 1,000 hotel rooms in renovation

Photo via Wiki Commons

November 13, 2017

Waldorf Astoria will lose 1,000 hotel rooms in renovation

In the coming weeks, the renovation of the Waldorf Astoria Hotel will finally begin--a three-year process to convert much of the building to luxury condos. Hilton Worldwide Holdings, who had owned the landmark since 1972, agreed in 2014 to sell the 1,413-room hotel to Beijing-based financial and insurance company Anbang Insurance Group for $1.95 billion. Since then, the interior was landmarked, Skidmore, Owings & Merrill was tapped to design the project, and the building closed to begin work. Now the New York Post reports that post reno, the Waldorf will only hold 350 hotel rooms--a number that's "at the low end of recent estimates and much smaller than the number former Waldorf owner Hilton had expected," according to the paper.
It's caused some tension

November 12, 2017

Courtney Love’s one-time West Village townhouse rental lists for $11.25M after a stylish makeover

By Annie Doge

After struggling on and off the market for six years, the historic Greenwich Village townhouse made infamous when Courtney Love rented it for $27,000/month is trying again after a super-stylish makeover. Back in 2011, the owner of 250 West 10th Street, Donna Lyon, took Love to court on the grounds that she had done more than $100,000 worth of interior damages, including decorating it in a style not to the owner's liking and setting a minor fire, as well as owed $54,000 in back rent. Love ended up winning the eviction battle, but soon thereafter moved out, from which time the place has been trying to find a buyer, first listing for $8.4 million, then jumping up to $11.5 and back down to $9. But it's now received a super-stylish makeover more akin to its pre-Love look, which he been done by previous owner and architect/designer Steven Gambrel. With lacquered walls, six original marble fireplaces, and a newly renovated French-bistro outdoor patio, the home is now asking $11.25 million.
Get a look around

November 12, 2017

A top-floor apartment at Trump International, awash in marble, has been price chopped down to $27.5M

Extravagant is the word to describe this 47th-floor apartment at Trump International, the 52-floor hotel/condo hybrid on the corner of Central Park West. The owner snatched up the 6,360-square-foot home in 2008 and has been recently delivering a number of price cuts to unload it. In 2016, the pad was asking $40 million. That number went down to $34.5 million this April, and now it's finally landed at $27.5 million--a 31.5 percent markdown from its original ask. For all that money, however, you're getting Central Park views, four distinct types of marble flooring, and a master bathroom decked out in Lapis Lazuli stone hand-picked by European craftsman.
See all the lavish details

Distinctive Homes

Photo of Trump Tower via Krystal T’s Flickr

November 10, 2017

Trump Tower prices slide since 2015 presidential campaign

Sales prices at the tony Midtown condo building at 721 Fifth Avenue have dropped sharply since Donald Trump began his presidential campaign, according to the Wall Street Journal. The median sale price and average price per square foot are down since 2015 and are now reaching the lows experienced during the last financial crisis. Brokers aren't exactly sure whether the "Trump effect" has caused the slump–including issues specific to the tower such as heightened security, protests, and a general antipathy toward all things Trump–or it's part of an overall softening of the luxury condo market.
Is it the Curse of Trump?

Real Estate Trends

Demolition papers filed for Lower East Side’s Landmark Sunshine Cinema

Photo of the Landmark Sunshine Cinema, courtesy of Wikimedia

November 10, 2017

Demolition papers filed for Lower East Side’s Landmark Sunshine Cinema

Plans to demolish the Landmark Sunshine Cinema, a staple of the Lower East Side since 1909, were filed with the city Wednesday. Although the new owners of the historic theater, East End Capital and K Property Group, planned in May to redevelop the space as a mixed-use building with retail and office space, the developers, who paid about $35 million for the site, have changed their mind, the Lo-Down reports. The demolition application calls for a “full demolition of a 3-story commercial building.” The iconic cinema’s doors will close for good in January 2018, when its lease expires.
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New Developments

November 10, 2017

Concrete jungle in West Soho hits market for $5.25M

If you're a fan of concrete as a rich interior material, this just-listed West Soho will definitely impress. The 4,000-square-foot duplex is decked out with concrete columns, floors, and ceilings. This industrial chic space also offers a flexible floor plan, with a 30-foot-wide and 68-foot-long great room that allows for a number of configurations. Currently, it's set up as a two-bedroom home with a studio art space and a casual media lounge. The creative, well-designed residence is located within the 18-unit condo at 481 Greenwich Street, and is now asking $5.25 million.
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Distinctive Homes

November 9, 2017

‘This American Life’ host Ira Glass lists renovated Chelsea condo for $1.75M

By Annie Doge

A year after he and his wife Anaheed Alani were sued by their condo board for an alleged bedbug and rats infestation, “This American Life” host Ira Glass has put his Chelsea home on the market for $1.75 million. Perhaps the rodent drama got to be too much, as the listing states that the one-bedroom apartment at 159 West 24th Street is "newly gut renovated and unoccupied."
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November 9, 2017

Preserved Dakota apartment hits the market for the first time in 50 years, asking $12.5M

By Andrew Berman of Village Preservation

For the first time in 50 years, an eight-room apartment in the Dakota, quite possibly the city’s most iconic apartment building, is for sale with an asking price of $12.5 million. Built in 1884, the fortress-looking building at 1 West 72nd Street on the Upper West Side has been home to many celebrities over the years, including Judy Garland, Roberta Flack, Yoko Ono, and many more A-listers. As Curbed learned, four of the rooms in the available unit directly face Central Park and boast wood-burning fireplaces and original mahogany pocket doors.
Take a look around

Artist aeries: Touring downtown’s ‘studio windows’

Artist’s studios on Bleecker Street, via GVSHP

November 9, 2017

Artist aeries: Touring downtown’s ‘studio windows’

With fall’s arrival and the turning back of the clocks, sunlight becomes an ever more precious commodity. Perhaps no New York living space is more centered around capturing and maximizing that prized amenity than the artist’s studio, with its large casement windows and tall ceilings. So with sunlight at a premium, let’s conduct a brief survey of some of the most iconic artist’s studio windows in the Village and East Village.
But first, a little history

Rafael Viñoly’s 88-story tower at 125 Greenwich Street gets new renderings

Rendering of 125 Greenwich Street, courtesy of March

November 9, 2017

Rafael Viñoly’s 88-story tower at 125 Greenwich Street gets new renderings

Shortly after the launch of condominium sales last month, new renderings of 125 Greenwich Street were released Thursday, revealing its imposing height over neighboring Financial District towers (h/t YIMBY). The proposed 912-foot tall luxury condo designed by Rafael Viñoly Architects, the firm behind staggering 432 Park Avenue, features 273 total units, including 190 studios and one-bedrooms. Upon its completion, 125 Greenwich will have the third-highest apartments in lower Manhattan, after the Four Seasons Private Residences at 30 Park Place and nearly complete 45 Broad Street.
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Architecture And Design

Whitney Museum will host NYC’s first Andy Warhol retrospective in 30 years

Andy Warhol’s Campbells Soup cans at MoMA, via Brando/Flickr

November 9, 2017

Whitney Museum will host NYC’s first Andy Warhol retrospective in 30 years

Andy Warhol, one of New York's most iconic artists, is getting the spotlight at an upcoming retrospective in the Whitney Museum. The museum announced it's planning the city’s first comprehensive Warhol retrospective in nearly 30 years--and they hope, according to ArtNet, that it'll change your opinion of the most famed Pop artist in the world. Donna De Salvo, the curator organizing the exhibition, told ArtNet that "I’ve always felt there was so much attention given to the persona of Warhol that we had trouble looking at the work—and that’s what this exhibition does." This showcasing of his work is scheduled to happen in November of 2018.
Here's what we know so far

Events & Things To Do

November 9, 2017

Run your own library from this $5M bookshelf-lined Central Park West loft

The Century condominium at 25 Central Park West lives up to its ambitious name; its Art Deco architecture is as distinctive as its prime Central Park location with views to match. This light-flooded corner penthouse has 360-degree park views, but even those may need to compete with the sheer amount of reading material on the bookshelves that line this $5 million loft. With impossibly high ceilings, exposed beams, multiple levels, and innovative modern finishes, the three-bedroom residence has the feel of a loft within the elegant context of a pre-war apartment building.
Library with better hours, rules and furniture this way

Distinctive Homes

November 8, 2017

DXA Studio proposes prismatic glass addition for Willem de Kooning’s former Union Square home

By Dana Schulz

Just a week after the pair of buildings at 827-831 Broadway was landmarked, not only for their cast-iron architecture but for their long cultural history that most notably includes serving as home to world-famous artist Willem de Kooning, the developer/owner has put forth a proposal for a four-story prismatic glass addition and landscaped roof terrace. Though the architects at DXA Studio say the modern topper's reflectivity is representative of two phases of de Kooning's work--his 1960s rural and pastoral landscapes as seen through the reflection of surrounding plantings and his late 1950s urban landscapes through the building reflections--local groups are not so convinced.
All the details ahead

Penn Station and MSG get reimagined as a landscaped cemetery

MSG reimagined as a cemetery (L); Memorial walls in the subway stations (R). Via DeathLab

November 8, 2017

Penn Station and MSG get reimagined as a landscaped cemetery

By Dana Schulz

The rant that traveling via Penn Station is enough to kill you just took on a whole new meaning. Untapped Cities shared this vision from Columbia University's DeathLab (yes, this is a group dedicated to dealing with death in the city) that reimagines Penn Station and Madison Square Garden as a giant cemetery and public space. The general idea is to be more eco-friendly and accessible. Not only will the human remains be used to fertilize the gardens, but family members and the general public will be able to record digital memories to be stored on a central server.
Learn more about this proposal

November 8, 2017

StuyTown will be Manhattan’s largest solar power producer after $10M rooftop panel investment

The new owners of the massive East Village residential complex now known as StuyTown plan to spend over $10 million to install 10,000 solar panels on 56 buildings in the complex, the Wall Street Journal reports. Blackstone Group and Canadian investment firm Ivanhoé Cambridge bought the storied complex for $5.3 billion in October 2015. As 6sqft previously reported, the solar investment is part of an effort by Blackstone, one of the world's largest private equity firms, to generate energy cost savings in its global commercial real estate portfolio. The panels will provide enough power for about 1,000 apartments each year–about nine percent of the units in the 80-acre complex–which Blackstone says will triple Manhattan's solar power generating capacity and make it the largest private multifamily solar installation in the U.S.
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November 8, 2017

Cozy Chelsea co-op has all-season appeal for $1.2M