Co-ops

On Sale Now: An Unofficial Black Friday Bargain Hunt!

135 West 70th Street Penthouse BC; Listing photo Douglas Elliman.

November 28, 2014

On Sale Now: An Unofficial Black Friday Bargain Hunt!

Late November can be an anxious time for both buyers and sellers; unpleasant weather, family events and just plain seasonal shutdown mode can reduce the traffic at open houses to a trickle and get properties pulled off the market until after New Year’s Day or even springtime. Sellers may panic and prices get cut in the hopes of getting the deal done before year’s end; it’s a good time for intrepid buyers to stay in the game, though, because the competition factor is at a minimum. After reading about Leo DiCaprio who, like Macy’s, Wal-Mart and Kohl’s, jumped the gun on the traditional discount day by price-chopping his haute-holistic Delos Living penthouse, we rounded up some stellar dwellings that received significant markdowns just in time for the popular post-Thanksgiving Day shop-a-thon. So if you’re on the hunt–or you’ve got a two-bed-two-bath-with-killer-views-sized stocking to fill–check out our list of sale merch of the real estate persuasion that–we hope–won't require you to queue up at the crack of dawn.
10 more discounted deals that are better than lords a-leaping

November 24, 2014

Supermodel Gemma Ward Lists East Village Apartment for $2.25M

By Annie Doge

Australian supermodel Gemma Ward bought her East Village apartment in 2007 for $1.5 million, when she was only 20 years old, undertaking a gut renovation of the three-bedroom pad at 232 East 6th Street. But considering that, at age 16, she was the youngest model ever to appear on the cover of American Vogue, entering the NYC real estate game at 20 isn't that shocking. And she has now listed the pre-war apartment for $2.25 million, according to the Daily News.
Tour the stylish pad here

November 7, 2014

Debra Messing Buys $5.5M Upper East Side Apartment

By Annie Doge

Her famous Will & Grace character may have lived on the Upper West Side, but Debra Messing is crossing the park for a new home at 3 East 84th Street. According to city records filed today, the actress purchased a $5.45 million co-op at the building. The four-bedroom unit is just a half block from Central Park and boasts 10-foot ceilings, a wood-burning fireplace, Juliette balcony, and charming country kitchen.
Check out Messing's new digs here

November 3, 2014

Brighten Your Mood with this $4M Colorful Maria Brito-Designed Co-op

By Aisha Carter

Who needs lifestyle tips from Goop when you can live like Gwyneth Paltrow instead? That’s right. 320 East 72nd Street has an apartment designed by Maria Gabriela Brito, self-proclaimed luxury lifestyle consultant with a Rolodex full of clients like P. Diddy and Gwyneth. The colorful Lenox Hill apartment is not afraid to show its fun side, and it’s now on the market, asking $3.795 million. The Brazilian-inspired design is definitely not for the faint of heart, but Brito anchors the vibrant accents with a neutral backdrop, creating a lively yet sophisticated space.
Take a look inside, here

Distinctive Homes

October 30, 2014

East Village Condo’s Celebrated Design Will Make Your Dreams Come True

By Rebecca Paul

On any given day New York City has the potential to make all of your dreams come true, and this beautiful three-bedroom East Village condo, located at 211 East 3rd Street, might make that dream a little sweeter. This amazing property underwent an all-inclusive renovation just two years ago, and the result is an exquisitely curated interior enhanced by architectural sophistication that is sure to grab your attention. The renovation also garnered features in Martha Stewart Living, the Wall Street Journal and several other magazines and papers.
READ MORE

Distinctive Homes

October 27, 2014

$4M Restored 19th Century Co-Op Boasts Exquisite Millwork

By Aisha Carter

A 19th century renovated co-op on the most coveted street in the East 70s has just popped up on the market, asking $3.95 million. This carefully restored apartment at 5 East 75th Street definitely has some dizzying wallpaper and way too many mirrors, but that’s all overshadowed by its gorgeous original details and magnificent views.
Take a look inside, here

Distinctive Homes

October 21, 2014

It’s Official: Jets Owner Woody Johnson Sells Fifth Avenue Co-op for a Record Setting $80M

By Dana Schulz

In addition to holding the record for highest purchase of a sports team in New York (he bought the Jets in 2000 for a whopping $635 million), Johnson & Johnson heir Woody Johnson now also holds the title for most expensive co-op ever sold in the city. His 11th/12th floor duplex at 834 Fifth Avenue has been […]

October 20, 2014

Palatial Co-op at the Sherry Netherland Reduces Price to $85 Million

By Aisha Carter

An influx of new property in Manhattan has made Liberty Travel founder Gilbert Haroche reconsider the hefty $95 million price tag for his 15-room co-op at the Sherry Netherland. Haroche had a similar change of heart a year ago, when he lowered the price to $88 million, however he quickly returned to his astronomical initial asking. Now, after sitting on the market for an entire two years, the sprawling simplex is available for a slightly less jaw-dropping $85 million.
Take a look inside, here

Distinctive Homes

October 10, 2014

NY Jets Owner’s Fifth Avenue Co-op Could Sell for a Record-Breaking $80M

By Diane Pham

Billionaire NY Jets owner, Woody Johnson is looking to break a record with the sale of his duplex at 834 Fifth Avenue. The unit, which was quietly being shopped around for $75 million, has gone into contract for $80 million. When closed, it will be the city’s most expensive co-op sale ever. This is clearly a billionaire’s game as […]

August 26, 2014

Everything Old Is New Again: The Rise, Fall, and Eventual Rise Again of Co-Op Living

By Lauren Price

The Rembrandt at 152 West 57th Street between Sixth and Seventh Avenues was built as Manhattan’s first co-op in 1881. Apartment ownership was already in fashion across the pond, particularly in France and Britain, but the concept of a resident-owned building was still an unknown to most of us. Developed by a syndicate led by Jared B. Flagg, a clergyman with an avid interest in real estate, and built by the notable architectural firm of Hubert & Pirsson, the group had come to the conclusion that potential buyers would be drawn to a building where they would have control over expenses. For instance, buying coal and ice in bulk in order to keep prices down, and hiring a full-time communal staff to take care of the owners’ laundry, cooking and the running the elevators. Built as a brick and brownstone building with terra-cotta trim and jerkin-head gable windows at the top, the unit mix—a result of an interlocking system of staggered floor heights to allow for very tall art studio spaces—included a few duplex apartments with as many as 12 rooms. Original brochure prices reportedly ranged between $4,000 and $5,000, with monthly maintenance as low as $50. Confident in the ultimate success of co-operative living, Mr. Flagg with Hubert & Pirsson continued to develop another six co-op projects that very same year.
The history of co-ops and their rise, fall, and rise again into popularity

Egypt’s Richest Man Scoops Up the City’s Most Expensive Co-op for $70 Million

By Diane Pham

David Geffen has been dethroned as the person to have spent the most on a co-op in NYC, ever. Egyptian billionaire, a.k.a. the richest man in Egypt, Nassef Sawiris closed on the pad at 960 Fifth Avenue this afternoon through a listing held by Brown Harris Stevens. The penthouse apartment was originally going for $65 million earlier this spring, but power brokers Mary Rutherfurd and Leslie Coleman of Brown Harris Stevens managed to squeeze an extra $5 million out of Sawiris in a bidding war. Funnily enough, 960 has been cited as one of the city's 'A-plus' buildings, and in 1997 a New York Times article wrote that most residents in the building "are worth over $100 million" and that apartments cost about $15 million — my how times have changed!
Take a look inside the opulent apartment here

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