Manhattan

Just last week, 6sqft covered the financial and legal woes of Property Markets Group and JDS Development’s super tall and slender tower at 111 West 57th Street. Despite reports that construction had stalled over budget overruns and a potential foreclosure, the first condominiums, at what is lined up to be the world’s future tallest residential skyscraper, just went into contract (h/t The Real Deal). While Apollo Commercial Real Estate Finance, which issued a $325 million mezzanine loan for the project, did not share exactly how many units out of 60 are under contract, CEO Stuart Rothstein told TRD, they sold at “prices well over (Apollo’s) basis.”
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August 3, 2017

This $425K Hell’s Kitchen studio may be small, but its renovation will not disappoint

How much can you do with 410 square feet? Surprisingly, quite a bit. A renovation at this Hell's Kitchen studio, located within the 433 West 54th Street cooperative, has tried to maximize space in any way possible. Case in point: a Murphy bed "cabinet" with the option to tuck your bed away in style, a corner kitchen lined with wood that also holds storage underneath a compact breakfast bar, and a fire escape that makes for a suitable outdoor space. After last selling in 2010 for $340,000, the studio is asking $425,000.
This way for a look inside

August 2, 2017

News anchor Lester Holt breaks with posh Nomad apartment for $6.4M

Breaking: Lester Holt has sold his classy Nomad apartment for $6.4 million, just under the $6.6 million he listed it for in April, reports the Post. The NBC Nightly News and Dateline NBC anchor bought the three-bedroom spread at 225 Fifth Avenue for $3.3 million in 2007. Along with the impressive views of Madison Square Park and the Flatiron Building and a private terrace, the sale was likely helped along by the fact that Holt's wife, Carol Hagen-Holt, was one of the listing brokers.
Take a look around

Report predicts NYC’s vacancy rate will triple alongside falling rents

Image: Pexels

August 2, 2017

Report predicts NYC’s vacancy rate will triple alongside falling rents

A new forecast by online real estate marketplace Ten-X predicts that New York City's apartment vacancy rate will exceed 11 percent by the end of next year as thousands of apartments hit the market, the Wall Street Journal reports. The study also points to a slowing job growth rate, which drives the rental market, as a factor in what could be a "grim reckoning" for landlords.
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Real Estate Trends

August 2, 2017

After four years on the market, $125M Pierre penthouse sells for a paltry $44M

The 16 room triplex that takes up the 41st, 42nd and 43rd floors of the legendary Pierre Hotel has finally sold for $44 million, a huge drop from its original $125 million asking price. Located at 795 Fifth Avenue, the penthouse was owned by Barbara Zweig, the widow of financier Martin Zweig, who first listed the property in 2013 after her husband’s death. According to The Real Deal, the pad features a library, four terraces, private elevator and costs $51,840 per month to maintain.
See inside

August 1, 2017

$4,000/month West Village rental comes with its very own front door entrance

You could pretend you live in your own West Village townhouse with this rental, which comes with a private front door you enter off the street. Located at 344 West 12th Street, a tree-lined and cobblestoned stretch between Greenwich and Washington Streets, your front door will take you right into a pre-war one bedroom with a wood burning fireplace, the original hardwood floors and French doors. Though it's in a co-op building, this apartment is up for rent at $4,000 a month.
See more of the prewar details

August 1, 2017

Clive Davis chops the price of his ritzy Midtown duplex to $6.996M

Back in 2015, five-time Grammy Award-winning producer and Sony Music Entertainment's chief creative officer Clive Davis bought two units at 465 Park Avenue for $3.4 million, combining them to create a contemporary, art-filled duplex for an unknown family member. However, just a year later, "things changed" for this relative, and he listed the pad for $7.8 million. Despite the super-swanky design and ritzy decor, he's had a hard time unloading the home, and Mansion Global now reports that he's chopped the price by 10 percent to $6,995,000.
Take the tour

July 31, 2017

Pre-war penthouse with a water tower atop its terrace asks $2.5M in Midtown West

Now that we're in the dog days of summer, nothing looks more appealing than a spacious, well-designed roof deck that just happens to have a water tower perched above it. That's the case at this Midtown West condo at 40 West 55th Street, now on the market for $2.5 million. The one-bedroom penthouse is literally surrounded on four sides by an outdoor space lined with greenery. Inside, a skylight and southern, western and northern exposures that look out onto the lush terrace result in a modern, bright interior.
Go inside the apartment

Distinctive Homes

July 31, 2017

Mr. Big (a.k.a. actor Chris Noth) snags little Upper East Side co-op for $1.8M

While he is known for playing hot shot New Yorker Mr. Big on "Sex and the City," actor Chris Noth has called New York City his home in real life since the 1970s. And since 1994, Noth has owned his apartment at 45 East 9th Street, the same building where Candace Bushnell lived, the writer behind the newspaper column and book that inspired the popular TV show. Recently, "The Good Wife" actor purchased a co-op at 139 East 66th Street on the Upper East Side for $1.85 million, reported LL NYC. The pre-war pad boasts just two bedrooms and two bathrooms, a bit on the small side for Mr. Big.
See inside

July 30, 2017

Bright apartment on the full floor of a West Village townhouse asks $6,500/month

Somewhere along the line, the historic Federal period townhouse at 428 Hudson Street was broken up into four apartments. And now theres' the opportunity to rent this one, which occupies the townhouse's entire third floor. If you don't mind the walk-up, the apartment offers two bedrooms and two bathrooms over 1,200 square feet. The large, open living space is decorated with a fireplace and hardwood floors, while sunshine comes in from exposures to the east and west. For this calm, quiet pad perched atop a West Village townhouse, it'll cost $6,500 per month.
Take a look

FREE RENT: This week’s roundup of NYC rental news

Images (L to R): FRANK 57 WEST, 237 11th Street, 180 Water Street and 1 QPS Tower

July 29, 2017

FREE RENT: This week’s roundup of NYC rental news

By Emrys Fitzgerald

Gut-Renovated Rentals in Prewar Harlem Building from $1,850/Month; Move-In August 1st [link] Live & Play at “The Crescendo,” South Bronx’s Unprecedented Rental Prepares for Summer Launch [link] Meet Crystal54, Hell’s Kitchen’s New Cast-Iron Rental Leasing from $3,200/mo [link] Conversion of 1890s Bushwick Church is Complete; See Inside the New Rentals [link] Grand New Rentals Debut […]

Real Estate Trends

July 28, 2017

125 Greenwich Street gets new rendering, taller 912-foot height

Earlier this month, developers Bizzi & Partners and New Valley finalized a $450 million loan for their Rafael Viñoly-designed skyscraper at 125 Greenwich Street, and they've now released a finalized rendering of the slender condo tower and filed plans that show it will top out at 912 feet (h/t Yimby). The height is only slightly above the most recent reporting of 898 feet, but the project was originally supposed to rise a whopping 1,400 feet. Though it's no longer in line to be downtown’s tallest residential building, it will still offer impressive views and a wind-resistant design.
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July 28, 2017

$2.4M Lower East Side pad uses inventive design to complement its railroad layout

This apartment is long and narrow, but it's also got a ton of square feet and some inventive design to make for a pretty nice pad. Located at the Lower East Side condo 71 Ludlow Street, it boasts 1,646 square feet, three bedrooms, and a $2.395 million price tag. (It last sold in 2013 for $1.65 million.) A curvy kitchen dominates the middle of the open space, while bedrooms are placed on either side. And surprisingly, for a railroad layout, the apartment boasts three exposures to bring in light.
Take an interior tour

Distinctive Homes

July 27, 2017

CetraRuddy proposes sustainable designs for first office building along the Village’s ‘Silicon Alley’

An "oversized Silicon Alley" is what some are calling Mayor de Blasio's plan to transform Union Square and its southern stretches into the city's next tech hub. The main component so far is the massive Union Square Tech Hub proposed to replace the P.C. Richard & Son building on East 14th Street, but Councilwoman Rosie Mendez and the Greenwich Village Society for Historic Preservation are advocating that, in exchange for the building, the city rezone the surrounding blocks to prevent an influx of out-of-scale development. Despite their oppositions, CetraRuddy has revealed on their site two environmentally friendly proposals for the site at 799 Broadway, the former home of the St. Denis Hotel at the southwest corner of East 11th Street. Spotted by CityRealty, the 240-foot, 17-story office building would be the first catering to the Mayor's tech dreams, though the renderings are merely conceptual at this point.
All the renderings and details ahead

July 27, 2017

Explore the history of human communication through 100 Barclay’s ceiling murals

By Diane Pham

This post has been sponsored by 100 Barclay. To learn more about available condos or to schedule a tour, visit the official 100 Barclay website. Much attention has been given to the landmarked 100 Barclay as of late thanks to a recent redevelopment of the upper floors into luxury apartments by Magnum Real Estate Group and the CIM Group. The full-block building, which sits on a site at the southern edge of Tribeca and just off the Hudson River waterfront, was originally constructed between 1923 and 1927 as the headquarters of the New York Telephone Company. Then known as the Barclay-Vesey Building (also the New York Telephone Building), the tower was the world's first Art Deco skyscraper, designed by a young Ralph Walker while he was just an associate at McKenzie Voorhees & Gmelin. Walker's design provided not only a launching pad for his own career (he soon after became a partner in his firm and later went on to become one of the country’s most esteemed architects) but the Barclay-Vesey would provide inspiration for many of New York's future skyscrapers.
explore the murals here

Places

July 27, 2017

World’s skinniest skyscraper at 111 West 57th Street stalled at 20 stories by soaring costs

The construction of Property Markets Group and JDS Development’s 1,421-foot-tall tower at 111 West 57th Street has been the subject of much anticipation and excitement, as it's slated to be among the tallest residential skyscrapers anywhere and the world's most slender with a height-to-width ratio of 24:1. But after rising only 20 stories, the SHoP Architects-designed Billionaires' Row addition has stalled, plagued with budget overruns and headed for foreclosure, the New York Post reports.
What could possibly have happened?

Photo via Wiki Commons

July 26, 2017

The history behind how Great Jones Street got its name

After 34 years of serving giant Cajun-Creole portions alongside obscure jukebox music, Great Jones Cafe is closing its doors for good tonight. The notorious Noho bar at 54 Great Jones Street opened in 1983 when the block was so empty patrons used be able to play whiffle ball in the street, but its closure serves as a reminder of the history of Great Jones Street. This superlative name dates way back to 1789 when politician Samuel Jones donated land to the city under the terms that they name any street within the property after him. But there was one little issue....
Where did the street name come from?

History

July 25, 2017

Manhattan’s first-ever water park is coming to the Upper East Side—and it looks like a giant dishwasher!

For three Saturdays in August, nearly seven miles of NYC thoroughfares, from the Brooklyn Bridge to Central Park, will be closed to traffic as part of the city’s annual Summer Streets program. And this year's event has some pretty adventurous offerings, including a 270-foot waterslide, rock-climbing wall, and a 165-foot-long zipline. Guests will also get to visit Manhattan's first-ever water park on the Upper East Side, courtesy of LG Electronics. The giant inflatable park, called LG QuadWash™ Water Park, will measure 30-feet wide by 50-feet long and it's designed to look like both the interior and exterior of LG's new dishwashers, including cutlery-shaped slides, jet stream sprinklers, and "3rd rack" monkey bars.
Learn how you’ll be able to play in a giant dishwasher

Events & Things To Do

July 25, 2017

Meg Ryan’s moody, ‘Megan-ized’ Mercer Street loft sells for $9.9M

Meg Ryan's 4,100-square-foot apartment at 84 Mercer Street in Soho has been officially scooped up for $9.9M, LLNYC reveals. 6sqft previously reported that the actress had listed the full-floor home–which she bought from fellow actor Hank Azaria for $8 million in 2014–for $10.9 million back in February of this year. After a designer gut renovation and a spread in Architectural Digest, the three-bedroom home didn't stay on the market long—it went into contract just three months after Ryan listed it.
Tour the loft

July 25, 2017

$350K UES studio designed in the ’80s by Adam Tihany resembles a luxury train car

A quirky studio designed by the interior designer Adam Tihany, praised as one of the greatest American interior architects by the New York Times, has hit the market for $350,000. The design has essentially remained unchanged since the apartment was featured in an early 1980s issue of Metropolitan Home, which compared the design to that of a luxury train car. According to the listing, this modest interior, packed with inventive storage, is an early example of Tihany's world renowned hotel work (some of his commissions include the Mandarin Oriental in Vegas, the Beverly Hills Hotel, and two Four Seasons in Dubai). It's located in the 16-unit Upper East Side co-op 223 East 78th Street, which has one more studio for sale asking $315,000.
Check it all out

Distinctive Homes

Aby Rosen signs fashion company Totokaelo as first retail tenant at 190 Bowery

Image: Before the 2005 sale

July 25, 2017

Aby Rosen signs fashion company Totokaelo as first retail tenant at 190 Bowery

It's been two-and-a-half years since developer Aby Rosen of RFR Realty scooped up the former Germania Bank Building for $55 million. He bought it from photographer Jay Maisel, who in 1966 turned the then-abandoned landmark into his own private 72-room mansion. After removing the Nolita building's iconic graffiti last summer, Rosen is now all systems go for his conversion to an office building with ground-floor retail. As the Post reports, Seattle-based fashion retailer Totokaelo (who counts among its designer offerings Acne Studios, Comme des Garçons, Jil Sander and Proenza Schouler) signed a lease for 8,918 square feet at street level. However, the deal only covers early fall through March 2018 for a large-scale pop-up store.
All the details ahead

Uncategorized

A rejected design for Central Park from 1858 shows colorful, whimsical topiaries

John Rink’s rejected design proposal for Central Park, via NY Historical Society

July 24, 2017

A rejected design for Central Park from 1858 shows colorful, whimsical topiaries

Central Park, which celebrated its 164th anniversary this month, required elaborate planning to make it what it is today: the most visited urban park in the country. New York City launched a design competition in 1857 for the development of the open space between Manhattan’s 59th and 110th Streets. Most New Yorkers know that out of 33 total entrants, the city chose Frederick Law Olmsted and Calvert Vaux's "Greensward Plan." However, just five of the losing designs survived and can be seen at the New York Historical Society. One particularly unique design was submitted by park engineer John Rink, who planned Central Park to be highly decorated with whimsically shaped sections dominated by topiaries (h/t Slate).
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July 24, 2017

Jon Bon Jovi tries to sell West Village duplex as part of a $30M combo unit

Jon Bon Jovi hasn't released a new album in quite some time, but one way he's managed to stay in the spotlight is his real estate game. In 2015, he sold his Soho penthouse for $34 million, shortly thereafter picking up a sprawling duplex condo at new celeb-favorite 150 Charles Street for $13 million. Less than two months ago, he listed the West Village pad for $17.25 million, but he's already gotten impatient, now offering the pad as part of a $29.5 million combo unit with the neighboring duplex according to Curbed.
Check out both duplexes

July 24, 2017

565 Broome Soho aims to be Manhattan’s first ‘Zero Waste’ residential high rise

New York City developers have been increasingly competing to seek environment-friendly accreditations based on standards like Passive House, LEED and wellness to distinguish their offerings. Recently "Zero Waste," defined by the U.S. Zero Waste Business Council as, “achieving over 90% diversion of waste from landfills, incinerators and the environment,” is rising in popularity, with good reason: Certified buildings won't be generating the mountains of garbage that are the bane of NYC living. 565 Broome Soho, the under-construction condominium tower at the crossroads of Soho, Hudson Square and Tribeca, hopes to be Manhattan’s first Zero Waste-certified residential building, CityRealty reports.
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July 24, 2017

Form meets function at this cute $2,850/month Chelsea studio