Search Results for: 10 million mansion

This four-family brownstone at 278 Clifton Place in Bed-Stuy, Brooklyn, just hit the market for $1.995 million. It's a well-preserved historic brownstone that offers plenty of potential for conversion. It's currently set up as an owners duplex with two rental units above, but as the listing says, "You have the flexibility to make it a grand single family home, smart double duplex, triplex over garden rental or four floor-through income generating units." The house already has an extension that includes a terrace for the third-floor rental unit. The extra space and the flexible configuration gives the new buyer plenty of opportunity to use their imagination.
Check out the interior

Distinctive Homes

May 26, 2015

Own a Mansion with Celebrity History on a Private Island Overlooking NYC for $11M

Considering the fact that New York City townhouses go for tens of millions of dollars and luxury condos are climbing into the hundred million range, $11 million for an entire private island and mansion seems like quite the bargain. Tavern Island is a 3.5-acre piece of land located in the Long Island Sound near Rowayton, Connecticut, overlooking NYC. According to the Daily Mail, in the 1950s and '60s, theater impresario and lyricist Billy Rose owned the island and hosted lavish parties for the likes of Marilyn Monroe, Maureen O'Sullivan, and Barbara Streisand. In addition to these epic bragging rights, the new owner of the island will gain a six-bedroom English Colonial mansion dating to 1900, private beach, swimming pool, and a docking area and boat for access the mainland.
Tour this unique island

May 11, 2015

Charting the Property Taxes of the City’s 10 Most Expensive Apartments

Back in March, we learned that the owner of the $100 million apartment at One57 (the most expensive sale ever in the city) pays only $17,268 in annual property taxes– "or 0.017 percent of its sale price, as if it were worth only $6.5 million," as we noted. "In contrast, the owner of a $1.02 million condo nearby at 224 East 52nd Street is paying $24,279, or 2.38 percent of its sale price." Why does this happen? It's in part due to the 421-a program, which offers tax breaks for the inclusion of affordable housing and "lowers the billable-assessed value of a property to incentivize real-estate development," according to CityLab. It's also thanks to the city's haphazard system for assessing market values of condos and co-ops. In response to this growing issue of inequality, Mayor de Blasio announced just last week that he hopes to end 421-a for condos, as well as implement an even stricter mansion tax. To make the issue a bit more black-and-white, CityLab has put together two charts that show just how disproportionate the actual value of the city's ten most-expensive apartments is compared with their property taxes. As they note, "In NYC, billionaires pay 1/100th the average property-tax rate."
Find out more here

To Increase Affordability, Mayor de Blasio Wants to End 421-a for Condos and Up the Mansion Tax

Mayor de Blasio via @KevinCase via photopin cc; One57 © Wade Zimmerman courtesy of Agence Christian de Portzamparc (ACDP)

May 7, 2015

To Increase Affordability, Mayor de Blasio Wants to End 421-a for Condos and Up the Mansion Tax

From the onset, Mayor de Blasio has been extremely vocal about his plan to add 200,000 units of affordable housing over 10 years, 80,000 of which will be new construction. Though many feel this is an arbitrary number, backed up by no data as to where the units will be, the Mayor seems committed to reforming current policies to reach his goal. And after months of speculation, he has revealed his planned changes to the city's 421-a tax incentive program, which is set to expire in June. According to the Times, under his proposal, the controversial tax would no longer apply to condo projects (to understand the logic behind this decision just look at the $100 million sale at One57 that received the tax abatement). But it would apply to new rental projects, which would have to have apartments for poor and working-class residents make up 20 to 30 percent of the building in order to qualify for city tax breaks. It would also extend the abatement from 25 years to 35 years. Another part of the overhaul is to eliminate so-called poor doors. De Blasio also wants to up the city's mansion tax. Currently, home sales over $1 million are subject to a 1 percent tax, but de Blasio proposes adding an additional 1 percent tax for sales over $1.75 million, as well as a third 1.5 percent tax for sales over $5 million. He estimates this will bring in an extra $200 million a year in tax revenue, money that would be allocated to affordable housing programs.
More details ahead

May 5, 2015

The Former Upper West Side Mansion of Charles Schwab Is Asking $20 Million

It doesn't get any grander than this 11,500-square-foot, six-story mansion on the Upper West Side. Located at 323 West 74th Street, this home has an interesting history, to say the least: It was designed by the famous architect C. P. H. Gilbert as part of a larger row of residences off Riverside Drive to rival the mansions of Fifth Avenue. The infamous moneyman and steel magnate Charles Schwab lived here from 1914 to 1917, then, according to Daytonian in Manhttan, it was used as the "scandalous love nest" for the mistress of industrialist George Gould. Today, it's been configured as an owner's triplex with an apartment below. The asking price comes in at $19.995 million.
See more interior photos here

May 5, 2015

Jason Kidd Sells Hamptons Mansion for $7.1M

By Annie Doge

Just in time for summer in the Hamptons, retired Nets star Jason Kidd has sold his sprawling mansion at 100 Flying Point Road in Water Mill, fetching an impressive $7.1 million, reports the Post. He bought the then-brand-new, four-building luxury compound in 2012 for $5 million, originally listed it through Corcoran in October 2014 for nearly $8 million, but re-listed it with Douglas Elliman this past January for $1 million less. The home came fully furnished and offered the best of Hamptons living.
Take a look around the summer-ready estate

May 1, 2015

$2M Historic Bushwick Mansion Has a Secret Wild Side

Many people know Bushwick as the Brooklyn neighborhood of artists and lofty warehouse apartments. But Bushwick Avenue is also home to many historic mansions built in the 19th century. This Renaissance Revival property at 716 Bushwick Avenue is one of them. The large mansion is decked out with many historic touches– woodwork, fireplaces, parquet floors–but it also pays tribute to Bushwick's rebirth as an artist destination. (You won't believe the graffiti work on display in the basement.) To buy a home that embodies both old world and new world Bushwick, it's going to cost $1.98 million.
See photos of the surprising interior here

The Multi-Million Dollar Real Estate of Brooklyn’s… Gravesend?

Image: Nest Seekers International

April 28, 2015

The Multi-Million Dollar Real Estate of Brooklyn’s… Gravesend?

When people talk about expensive Brooklyn real estate, the conversation often revolves around the well-kept townhouses in Brownstone Brooklyn, the waterfront condos of Williamsburg, the freestanding mansions of Prospect Park South. Gravesend is not a neighborhood that’s on most New Yorkers' minds. But this South Brooklyn enclave, bordered by Sheepshead Bay, Midwood, Bensonhurst and the waterfront, sees some of the highest home sales in all of Kings County. Here, it’s not uncommon for selling prices to break the $10 million mark. Two years ago, a home hit the market for $14 million. So what’s happening in Gravesend? Simply put, this is not your average New York City real estate market. This neighborhood is home to the largest Sephardic Jewish community in the United States, and real estate is dominated by proximity to synagogues and Jewish Community Centers. That pressure for proximity has driven real estate prices into the multi-millions.
Learn more about the unique Gravesend real estate market…

April 24, 2015

Brooklyn’s Historic Tracy Mansion to be Turned Into Condos; Sinatra’s Former Penthouse Sells for $5M

The historic Tracy Mansion will be carved into seven residential units. [TRD] Frank Sinatra’s former UES penthouse has sold for $5 million. [WSJ] Norman Foster’s new building at 100 East 53rd Street is on the rise. [A Fine Blog] Turns out 190 Bowery’s graffiti isn’t safe after all. The ground floor tenant will have the […]

Real Estate Trends

April 10, 2015

City Housing Projects to Go Green; There’s Asbestos in Gracie Mansion

NYCHA plans to make upgrades to the city’s housing projects to make them more green. [NYT] Why your upstairs neighbors are so darn noisy. [Boston] A renovated Greenwich Village townhouse is asking a record $38.5 million. [WSJ] Gracie Mansion has asbestos, but Mayor Bill de Blasio and his family will remain in the house while the issue is being […]

Real Estate Trends

March 24, 2015

Live in a Sprawling Queens Mansion; Things to Consider Before Subletting

Some very important things to take into account before subletting your apartment. [BU] A sprawling Jamaica Estates mansion in Queens has hit the market for $3.49M. [Brownstoner Queens] A 100-acre manufacturing area in northern Inwood is being eyed for rezoning for housing and tech. [Curbed] New $200 million, 14-mile bus route unveiled for Queens. [NYDN] Robert Durst linked to yet […]

Real Estate Trends

March 9, 2015

Owner of $100M Apartment at One57 Only Pays $17,268 in Property Taxes

Remember the $100 million apartment at One57, the most expensive ever in New York City? Well, the (presumably) billionaire buyer pays just $17,268 in annual property taxes on the unit, or 0.017 percent of its sale price, as if it were worth only $6.5 million, according to the New York Post. In contrast, the owner of a $1.02 million condo nearby at 224 East 52nd Street is paying $24,279, or 2.38 percent of its sale price. This is just one example of the fact that the owners of the city's ten most expensive apartments pay effective rates that are unbelievably lower than those paid on cheaper properties. How is this possible? It's in part due to the 421-a tax abatement, but more so due to the city's convoluted method of assessing market value for condos and co-ops.
More on the tax inequality here

February 26, 2015

Live in a Haunted, Grey Gardens-esque Staten Island Mansion for $2M

For many New Yorkers, living on Staten Island is scary enough (just kidding!), but for those looking for an extra thrill, a historic, landmarked haunted mansion just hit the market for $2.31 million. The 7,700-square-foot, 10-bedroom Italianate villa-style home is located at 2475 Richmond Road in Egbertville and is known as the Gustav Mayer House for its original owner, an inventor who created the recipe for Nabisco's Nilla Wafers. Built in 1885, the house served as a Grey Gardens-esque residence for Mayer's two daughters, who stayed sequestered inside until their 100th birthdays. It's said that their ghosts still roam the hallways, along with the presence of their father, according to the Post.
Get the full story here

February 12, 2015

$30M Mega-Mansion Coming to Soho; New Developments Heating up the Jamaica Real Estate Market

A massive, 13,000-square-foot mega-mansion is coming to Soho. Madison Equities will combine two existing townhouse development sites to create a completely customizable $30 million home. [NYDN] Several mega projects coming to Jamaica may prove to be the real estate tipping point for the Queens ‘hood. [TRD] Hudson Yards developers get $180 million in tax breaks. […]

Real Estate Trends

February 12, 2015

Spectacular Park Slope Mansion Comes with Private Parking and a Twice-Reduced Price

By Stephanie Hoina

A short walk from Brooklyn’s Grand Army Plaza is a row of four neo-classical townhouses that have been presiding over Plaza Street West in Park Slope since the late 1800s. Anyone strolling past will be instantly charmed by the intricately carved cornices, striking wrought iron doors, and relief-cast designs gracing the limestone façades. As beautiful as they are on the outside, one can only imagine what treasures can be found inside. And the residence at #5 does not disappoint.
Check out this home's spectacular interior

Distinctive Homes

My 3,900sqft: Four Ladies Turn a Clinton Hill Townhouse into a ‘Pop-Up Mansion’

Our new series “My sqft” checks out the homes of 6sqft’s friends, family and fellow New Yorkers across all the boroughs. On our first interior adventure, we check out a home in Clinton Hill.

February 10, 2015

My 3,900sqft: Four Ladies Turn a Clinton Hill Townhouse into a ‘Pop-Up Mansion’

What happens when you let four ladies run loose in a four-story Clinton Hill townhouse? Closets, corners and a pantry spilling over with shoes and coats, apparently. "There are shoes lining the kitchen pantry shelves; the tiny third bedroom upstairs that resembles a Swiss chalet in the twilight zone is filled with racks of vintage frocks, coats and designer handbags. You can really tell almost everyone in this house either works in fashion or hoards it," says owner and 6sqft writer extraordinaire Michelle Cohen. We recently visited Michelle in her Brooklyn home to see the pretty amazing setup she has created for herself. Michelle, whose house you've certainly seen on our site before, is currently undertaking a major renovation that will turn her and her fiance Stanley's brick-clad buy into a modern-meets-historic home with a rental garden apartment. But while Michelle's poring over drawings with her architect, she's found a few friends to share the journey, and the house; namely three fabulous women with wonderfully different personalities. "Stanley likes to call it a sorority for outstanding ascendant young creative professional women," she muses. Jump ahead to meet Michelle and the girls—who range from a Vogue fashion stylist to a creative producer to a journalist who covers evolution, disease and health policy—in their home to get a closer look.
See more here

February 4, 2015

Brooklyn’s Most Expensive Listing Ever: A $40 Million Mansion with a Mayoral Past

There's no shortage of beauty inside, out, or around this stunning Brooklyn Heights mansion which has just hit the market for a record $40 million—the most expensive residential property ever listed in the borough. While that amount may make our mere mortal hearts skip a beat, the price tag is certainly warranted when you consider the following: It encompasses 17,500 square feet, there are 15 bedrooms, 16 bathrooms, and more than 9,000 square feet of garden and outdoor space, and it boasts enough original details to make even the biggest history buff's head spin. As the listing so aptly states, "Much like a long awaited centennial celebration, a residential sale of this magnitude comes around very seldom, and when it does, quite often history is made."
Tour the spectacular $40M home here

7,279 NYC Homes Are Valued at More Than $5 Million

The Upper East Side, where the most $5 million + homes are located, via CityRealty

February 3, 2015

7,279 NYC Homes Are Valued at More Than $5 Million

If you think that statistic is jaw-dropping, consider this, too–those 7,279 homes valued at more than $5 million amount to a total fair market value of $65.2 billion, according to data from the city’s Independent Budget Office. The Wall Street Journal requested the data to take a closer look at the proposal to impose higher property taxes on pied-à-terre owners, and the findings show that "the city’s most expensive homes would generate less money from a higher tax surcharge than what its advocates have suggested."
More details here

January 19, 2015

Russian Billionaire Roman Abramovich Buys Up Three UES Townhouses to Build a Makeshift Mansion

While some billionaires are busy eyeing the glass penthouses of the city's up-and-coming and ultra-luxe towers, others are taking a more DIY approach to realizing their dream home. The latest to join the building-your-own-mansion trend is billionaire Roman Abramovich, who according to the NY Post has just "secretly" purchased a 9,495-square-foot townhouse at 11 East 75th Street for $29.7 million from developer Larry Gluck. The buy follows Abramovich's December purchase of another 7,286-square-foot townhouse two doors down for $18.3 million, and word on the street is that he's in contract for the townhouse wedged right in between.
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January 16, 2015

How the Fletcher-Sinclair Mansion Went from Private Home to the Ukrainian Institute of America