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Weekly Market Snapshot: The Week of June 18, 2014

By Diane Pham, Wed, June 18, 2014

  • 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.

 
For market trends, top residential sales, and the latest starchitecture news, we turn to CityRealty‘s Weekly Market Snapshot for the scoop.

get the report here

Daily Link Fix

Images: Marble Bowl by Earnest Studio (left), hotel rendering (right)

Downtown Brooklyn, Fort Greene, Major Developments

The city has officially approved a $3 million streetscaping plan as part of the overall plan to create a cultural district on the border of downtown Brooklyn and Fort Greene, according to Crain’s New York. The plan, which will transform public spaces along several streets including Fulton Street, Ashland Place, Lafayette Avenue, will include ripping up the existing sidewalks and replacing them with dark stone slabs embedded with a sprinkling of lights. There will also be new seating and landscaping along a number of blocks north of Atlantic Avenue where patrons of popular institutions like the Brooklyn Academy of Music and BRIC arts and media gather. The idea is to turn that area into a cultural epicenter in Brooklyn, much like Lincoln Center in Manhattan, but comprised of several independent entities.

Find out more about Brooklyn’s new cultural epicenter here

Major Developments, Manhattan, Midtown

The impetus behind the rezoning plan allowing taller towers in the blocks surrounding Grand Central Terminal – specifically the five blocks of Vanderbilt Avenue from East 42nd Street to East 47th Street – is to keep New York competitive with office development in other major cities like London and Shanghai.

However, according to the Wall Street Journal, the hotel-workers union, which had a key role in the demise of a similar proposal under former Mayor Michael Bloomberg, has flexed its muscles once again, seeking a concession that would require any new hotels to receive a special permit from the City Planning Commission and the City Council.

More details on the rezoning here

Gowanus, New Developments

Jared Kushner and LIVWRK could soon be making their way to Gowanus. According to The Real Deal, the pair are in contract to buy a 133,000-square-foot development site at 175-225 3rd Street, located right across the new 3rd and 3rd Whole Foods market and just around the corner from Lightstone Group’s 700-unit rental project at 363 Bond Street. Currently, the land has 600 feet of frontage and allows for commercial development of up to 300,000-square-feet, but sources say that one-million square feet of residential could be constructed if rezoned.

More details here

Celebrities, Interiors, Soho

  • By Aisha Carter
  • , June 18, 2014

Out with the old, and in with the new. A recently married Vanessa Carlton has put her two-bedroom Soho loft up for rent, and she’s asking a pretty penny for it, according to the NY Daily News. The 2,500-square-foot apartment, listed by Coldwell Banker Bellmarc’s Lisa Garey, has a vintage appeal that suits the “A Thousand Miles” singer/songwriter nicely. Carlton purchased the loft, located at 182 LaFayette Street, in 2004 for $1.83 million and renovated it to maintain its historic charm while featuring modern-day amenities.

Take a look inside the star’s expensive pad here

Cool Listings, Interiors, Manhattan, Upper East Side

  • By Stephanie Hoina
  • , June 18, 2014

Walking through this maisonette located at 170 East 78th Street is akin to going on a wonderful adventure where you’re not quite sure what you will see next. Every room in this tri-level home is filled with unique touches like gorgeous wood paneling surrounding quaint built-ins, ornately enshrined wood-burning fireplaces, and 13-foot ceilings.

Originally built as three separate artist’s studios, this dramatic apartment feels like living in a 30-foot wide townhouse with all the benefits of a full-time doorman.

See more of this magnificent triplex maisonette!

Interiors, New Developments, Rentals, Williamsburg

  • By Dana Schulz
  • , June 18, 2014

If you follow Williamsburg real estate news, you likely read about a lot of glassy waterfront towers and swanky hotels.  It’s refreshing, therefore, to hear about the Printhouse Lofts, a new residential development housed in a 104-year-old manufacturing building that seamlessly blends historic character with modern design.

Located at 139 North 10th Street, the site originally housed a printmaking company and was later a toy factory.  After failed conversion attempts by two different developers, Greystone bought the property last year for $15.8 million and undertook an adaptive reuse project that resulted in 36 fabulous apartments.

Take a tour through one of these stunners

Architecture, Upstate

  • By Patty Lee
  • , June 17, 2014

Upstate New York has no shortage of interesting homes — just take a look at this enchanting stone beauty — and we’ve found another picturesque stunner located to our north. Tucked away in picturesque Garrison, NY is a modernist home that blends right in with its natural surroundings, thanks to the work of Victoria Meyers and hanrahanMeyers Architects.

See more pictures straight ahead

Design, DUMBO, Products, Technology

In a day and age when printers give us the ability to create 3D models, we’re surprised that it’s taken so long for a machine like the DIWire to hit the market. Developed by the creative tinkerers of PENSA, this sleek gadget’s seemingly simple job — to bend wires with a click of a button — is an absolute game-changer for DIY enthusiasts.

See how the DIWire works

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