Search Results for: 220 central park

About a month after Robert A.M. Stern's affordable rental building opened in Brooklyn, the renowned architect's firm has been tapped to design another residential development designated for low-income New Yorkers. The city's Department of Housing Preservation and Development last week announced a project to bring 40 homeownership opportunities to a new 8-story building in the Bronx, which will be designed by Robert A.M. Stern Architects (RAMSA) and developed in collaboration with Habitat for Humanity, Camber Property Group, Almat Urban, and Interboro Community Land Trust. The building, located near Claremont Park, will have apartments that are affordable to families of three earning up to $93,000 annually.
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Jeff Bezos buys fifth apartment at Flatiron building for $23M

Rendering of 212 Fifth Avenue by Visualhouse; Photo of Jeff Bezos via Wiki Commons

August 18, 2021

Jeff Bezos buys fifth apartment at Flatiron building for $23M

Shortly after returning to Earth following a quick journey into space last month, billionaire Jeff Bezos bought another apartment at a Flatiron building for an otherworldly $23 million. As first reported by the New York Post, Bezos has picked up a four-bedroom unit at 212 Fifth Avenue, where he already owns a three-story penthouse and three residences below it. With this latest addition to his real estate portfolio, the Amazon founder now owns $119 million worth of apartments in this condo building.
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Robert A.M. Stern’s affordable housing building Edwin’s Place opens in Brownsville

All photos of Edwin’s Place © Francis Dzikowski/OTTO

July 27, 2021

Robert A.M. Stern’s affordable housing building Edwin’s Place opens in Brownsville

An affordable housing development designed by an architecture firm known for its pricey condo towers officially opened in Brooklyn this week. Located on the corner of Livonia Avenue and Grafton Street in Brownsville, Edwin's Place was designed by Robert A.M. Stern Architects (RAMSA), the team behind renowned buildings like 220 Central Park South, 15 Central Park West, and 70 Vestry Street, all of which have apartments that cost millions of dollars. At Edwin's Place, there are 125 units of affordable and supportive housing set aside for formerly homeless families and low-income New Yorkers.
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Ariana Grande’s former condo at Zaha Hadid’s High Line building sells for $12M

Photo by Tim Fisher, Courtesy of Related Companies

July 20, 2021

Ariana Grande’s former condo at Zaha Hadid’s High Line building sells for $12M

The apartment where pop star Ariana Grande and ex-fiance Pete Davidson once lived has sold for roughly $12,000,000. Located at 520 West 28th Street, the condo building on the High Line designed by the late architect Zaha Hadid, the residence measures an impressive 4,000 square feet, with five bedrooms and four and a half baths. As 6sqft previously reported, the apartment was listed for $16,000,000 in 2018 when the Grammy Award winner moved in.
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NYC sees end-of-year residential sales surge, especially in Brooklyn and Queens

Photo by Jeffrey Blum on Unsplash

February 10, 2021

NYC sees end-of-year residential sales surge, especially in Brooklyn and Queens

After three consecutive quarters of decline, the total residential sales volume and residential transactions in New York City during the final quarter of last year increased considerably. According to a new report released this week by the Real Estate Board of New York (REBNY), total sales increased to $9 billion in Q4 2020 from $6.5 billion in Q3, a roughly 40 percent increase in sales volume. Notably, the outer boroughs drove the surge in sales, with a sales volume increase of 90 percent in Brooklyn and 69 percent in Queens during this period.
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2020 luxury home sales rose 270% in some upstate New York counties

Downtown Rhinebeck, NY. Photo by Juliancolton via Wikimedia Commons

January 8, 2021

2020 luxury home sales rose 270% in some upstate New York counties

It's not news at this point that throughout 2020 the suburbs of New York City were flooded with new home buyers, pushing up prices and leading to unbelievable bidding wars. But what is news is just how much certain upstate areas saw a rise. According to Houlihan Lawrence's Q4 2020 Market Report, Putnam and Dutchess counties saw a 269-percent increase in home sales $1 million and over. And in Westchester county, sales $2M and higher grew by approximately 53 percent.
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Real Estate Trends

$57M penthouse at 111 West 57th Street joins list of NYC’s priciest pandemic sales

Photo by Peter Murdock

December 9, 2020

$57M penthouse at 111 West 57th Street joins list of NYC’s priciest pandemic sales

A penthouse apartment at the supertall 111 West 57th Street has sold for over $50 million, making it one of the priciest real estate deals in the city since the coronavirus pandemic struck this spring. Duplex Penthouse 75 sold "for around the list price" of $57 million, according to a spokesperson for the Billionaires' Row development. The two-level apartment has four bedrooms, five and a half baths, and boasts 14-foot ceilings and incredible views of Central Park.
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Real Estate Trends

December 2, 2020

VOTE for 6sqft’s 2020 Building of the Year!

By Emily Nonko

It goes without saying that 2020 has been an unpredictable, challenging year. This March, COVID-19 brought New York City to a standstill, from the city's bustling street life to the plethora of construction projects that defined the prior year. The pandemic quickly changed the way we live and build, but ultimately didn't stop New Yorkers from doing either. The city is still a place with bold new construction projects, glittering towers and mega-developments, unique and creative amenities -- especially to respond to a year sticking close to home. 2020 brought the introduction of a new public park inside an Upper West Side mega-development, multi-million dollar condo sales along Billionaire's Row, the restoration of a classic NYC landmark, and impressive new architecture that promises to shape our ever-changing skyline. Our picks are down to 12 of the most notable residential structures this year. The only question is: Which do you think deserves 6sqft’s title of 2020 Building of the Year? To have your say, polls for our sixth annual competition will be open up until midnight on Sunday, December 13 and we will announce the winner on Monday, December 14.
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New Developments

August 20, 2020

New York City’s top 30 condos

By 6sqft

From supertall new developments and projects by some of the world's most famous architects to historic landmarks brought into the 21st century, 6sqft has rounded up the best condo buildings in New York City. Ahead, find out which condominiums made the list and what you can expect in terms of views, amenities, neighborhood, and more.
Read on for a guide to the city's top condo addresses

Photo by ajay_suresh via Flickr cc

July 29, 2020

Upper West Side and Murray Hill saw the biggest price drops during the COVID crisis

Anyone who follows the NYC real estate market knows that there are deals to be had right now. But WHERE exactly can you get the most bang for your buck? CityRealty compared sale listings in January to those last week and found that the overall listing price among Manhattan condo, co-op, condop, and townhouse listings has fallen an average of 11 percent to $2,175,000 in the past seven months. And when it comes to specific neighborhoods, Lincoln Center, the Upper West Side neighborhood mainly centered around the 60s, saw prices fall the most at 32 percent. Murray Hill was next at 26 percent, followed by Beekman/Sutton Place at 22 percent.
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Real Estate Trends

Jeff Bezos now owns $96M worth of apartments in Flatiron condo

Rendering of 212 Fifth Avenue by Visualhouse; Photo of Jeff Bezos via Wiki Commons

April 17, 2020

Jeff Bezos now owns $96M worth of apartments in Flatiron condo

Amazon behemoth and richest person in the world Jeff Bezos has been making headlines in recent weeks for his $100 million donation to U.S. food banks. He's also become $24 billion richer since the coronavirus crisis sent Amazon's stocks surging. And it looks like he's taking a very small percentage of that fortune and expanding his real estate investment in NYC. The Post reports that Bezos just dropped $16 million on an apartment in the Flatiron condo 212 Fifth Avenue. Last June, he bought three units in the building totaling $80 million, making it the largest deal to ever close in New York south of 42nd Street. Now he can create a mega-mansion in the sky.
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Billionaires’ Row property taxes would dramatically increase under proposed system overhaul

Image courtesy of Vornado Realty Trust and Robert A.M. Stern Architects

February 11, 2020

Billionaires’ Row property taxes would dramatically increase under proposed system overhaul

Last month, the city's Advisory Commission on Property Tax Reform revealed a report outlining sweeping changes to the property tax code that would essentially raise the same amount of money but substantially redistribute where it comes from. Under the current system, property owners pay taxes based on assessed value rather than market value, so working-class homeowners often pay a higher tax rate than those who can afford the city's multimillion-dollar luxury condos. Mansion Global took a closer look at the numbers and found that property taxes along Billionaires' Row could increase up to five times their current rate under the proposed system.
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Policy

December 31, 2019

6SQFT’S TOP STORIES OF 2019!

By 6sqft

As we wrap up 2019, 6sqft is taking a look back at the top stories of the past 12 months in topics like apartment tours, new developments, news, and city guides. From a rare look inside a 220-square-foot Chelsea Hotel SRO to guides to the city's best museums to plenty of news about the newest openings at Hudson Yards, these are the stories that readers couldn't get enough of.
See the full list here

Uncategorized

Ultra-high-end sales defined the 2019 real estate market

Looking north towards Billionaires’ Row in early October © 6sqft

December 27, 2019

Ultra-high-end sales defined the 2019 real estate market

Throughout the year, there was much speculation that the real estate market was on a decline, but according to CityRealty's annual Manhattan Year-End Report, ultra-high-end sales continue to keep the market strong. On par with 2018's 228 sales, this year saw 221 sales at $10 million or more, totaling $4.6 billion, up from last year's $4.2 billion. As CityRealty tells us, this is "largely due to big-ticket purchases near the southern end of Central Park, most notably at 220 Central Park South," which accounts for one-third of that total, as well as a glut of new development condos coming online.
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Real Estate Trends

Billionaire’s Row tops list of most expensive streets in the world

Looking north towards Billionaires’ Row in early October © 6sqft

December 17, 2019

Billionaire’s Row tops list of most expensive streets in the world

A new study of the top "ultra-prime" locations in the world dispels any doubt that Billionaire's Row is living up to its name. London-based property consultancy Knight Frank, along with Douglas Elliman, looked at the number of homes sold for over $25 million since 2015 and found the greatest concentration along Midtown's 57th Street, where 41 transactions have been closed in the last five years at an average price of $38.5 million. Manhattan cracked the top ten three more times, with Central Park South coming in third, followed by Park Avenue and Fifth Avenue in fourth and seventh place.
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Real Estate Trends

NYC real estate experts offer their 2020 predictions

Photo by Leonhard Niederwimmer via Pixabay

December 16, 2019

NYC real estate experts offer their 2020 predictions

By Emily Nonko

In some ways, 2019 was a continuation of the past few years: political and global uncertainty loomed over the New York real estate market, development continued at a steady pace, and prices were as high as ever. (Oh wait -- they were actually higher.) But the year also brought notable changes, from a total overhaul of rent and tenant protections, increased urgency in regards to climate change, an increasingly buyer's market, and dry-up of the once pervasive rental concessions. So what's in store for the year ahead? Real estate experts believe sustained political uncertainty -- particularly around an election year -- could mean buyers proceed cautiously. The new rent laws will undoubtedly shape New York, as both the rental and condo markets tighten. Pre-war design will make a comeback in defiance of glassy modern architecture, while the focus on sustainability will increase and amenities will become more flexible.
Keep reading for the 6sqft's full roundup of 2020 predictions.

Real Estate Trends

December 12, 2019

NYC’s 11 best starchitect-designed buildings that you can live in

By Lidia Ryan

The Empire State Building, the Chrysler Building, One World Trade Center: all buildings that instantly come to mind when you think of the iconic New York City skyline. But more and more new skyscrapers are beginning to pop up in that classic view. And while it’s likely many an architects' dream to contribute a design to the most famous skyline in the world, only a handful of world-renowned "starchitects" get to do it. Ahead, 6sqft has rounded up 11 starchitect-designed condo buildings that you can actually live in, from veterans like Robert A.M. Stern and Renzo Piano to some more up-and-comers like David Adjaye and Bjarke Ingels.
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December 5, 2019

VOTE for 6sqft’s 2019 Building of the Year

By Emily Nonko

If you had to boil it down, 2019 has been an important year for advancing the city's most noteworthy residential projects. Perhaps no news was more important than the official opening of Hudson Yards, which introduced a collection of sleek towers to the Manhattan skyline. (Two Hudson Yards buildings, 15 and 35 Hudson Yards, have made this list.) But that still didn't overshadow other glittering towers now transforming the skyline: the world's tallest residential tower at Central Park Tower, the most expensive residential sale in the country at 220 Central Park South, and the highest infinity pool in the Western Hemisphere at Brooklyn Point. It's been a year of construction progress, eye-popping sales prices, and exceptionally luxurious apartments and amenities behind unique facades. Our picks are down to 12 of the most notable residential structures this year. Which do you think deserves 6sqft’s title of 2019 Building of the Year? To have your say, polls for our fifth annual competition will be open up until midnight on Friday, December 13th and we will announce the winner on Monday, December 16th.
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New Developments

Names of celebrities and wealthy New Yorkers buying condos under LLCs could be disclosed

Photo via Pexels

October 9, 2019

Names of celebrities and wealthy New Yorkers buying condos under LLCs could be disclosed

The names of some wealthy property owners in New York City will soon be made public under a new state law signed last month by Gov. Andrew Cuomo. In response to reports of illegal home conversions in Rockland County, state lawmakers drafted a bill to prevent buyers from purchasing homes through limited-liability companies. The new law requires the name and address of each member of the LLC for both buyers and sellers in New York State. According to the Wall Street Journal, the change in law may affect buyers of Manhattan real estate who wish to remain undisclosed.
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Policy

26-story boutique office building planned on top of Calvary Baptist Church on Billionaires’ Row

Photo via Wikimedia

October 7, 2019

26-story boutique office building planned on top of Calvary Baptist Church on Billionaires’ Row

Developers are planning to build a massive office project on top of a Billionaires' Row church. The Real Deal reported on Monday that Alchemy and ABR Investment Partners have partnered to buy properties owned by Calvary Baptist Church at 123-141 West 57th Street. The proposed boutique office building would rise 26 stories atop church space and sit next to Extell Development's supertall, One57.
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New Developments

Exclusive supper club for the ultra-wealthy will open at 35 Hudson Yards this fall

Photo by Timothy Schenck for Related-Oxford

August 13, 2019

Exclusive supper club for the ultra-wealthy will open at 35 Hudson Yards this fall

One of the city's most elite supper clubs is set to open this October at 35 Hudson Yards—and early reports say it's so exclusive that even residents of the luxury building (where apartments start at $5.1 million) won't be able to afford a membership. “It’s not for residents,” a source familiar with the project told the New York Post. “It’s for the developer’s super-rich buddies and CEO friends.” Details about the luxe club, which will be called WS New York, are being kept on the down-low but its website boasts "unparalleled access to the finest wine and spirits, world-class dining, and one-of-a-kind cultural events" offering guests an "insider perspective on rarified worlds."
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Food & Dining

Jeff Bezos scoops up three Flatiron apartments for a record-setting $80M

Rendering of 212 Fifth Avenue by Visualhouse; Photo of Jeff Bezos via Wiki Commons

June 4, 2019

Jeff Bezos scoops up three Flatiron apartments for a record-setting $80M

The Wall Street Journal reported today that Amazon Chief Executive Jeff Bezos is closing on three apartments at 212 Fifth Avenue, next to Madison Square Park. Bezos is scooping up a penthouse and two units that are right under it for approximately $80 million, though the precise numbers haven’t been made public yet. Combined, the apartments add up to over 17,000 square feet. The deal is reportedly the largest to ever close in New York south of 42nd Street, and the second largest deal of the year, second to Ken Griffin’s now-infamous $240 million penthouse at 220 Central Park South.
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Find out how much a pied-à-terre tax would affect the value of NYC’s most expensive homes

220 Central Park South. Image via Vornado Realty Trust and Robert A.M. Stern Architects.

March 25, 2019

Find out how much a pied-à-terre tax would affect the value of NYC’s most expensive homes

By Michelle Cohen

Calls for a so-called pied-à-terre tax have increased since hedge fund manager Ken Griffin closed on a penthouse at 220 Central Park South for over $239 million in January, for a residence that the billionaire will be using as “a place to stay when he’s in town.” And State Budget Director Robert Mujica stated recently that a pied-à-terre tax could be combined with other revenue solutions to help fund the Metropolitan Transportation Authority’s $40 billion in capital needs. Owners of some of the city's highest-priced real estate, however, could face a dramatic dip in their property values if the tax plan is enacted, the Wall Street Journal reports, after an analysis that showed how the heftiest tax would be levied on a small number of houses, co-ops, and condos with market values of $25 million or more. The new tax could potentially slash the value of this handful of pricy properties by almost half.
How much is half of too much?

State budget director says a pied-à-terre tax could help fund MTA

Via Flickr

March 7, 2019

State budget director says a pied-à-terre tax could help fund MTA