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At any given hour when you turn on a home design television channel you have about a 50% chance of landing on a realty show about flipping houses. In real life, though, it's not all hunky property brothers and fairy tale endings; trying to flip a house is a gamble, which is why oftentimes the most successful flippers are those on the inside, like real estate developers and seasoned brokers. For anyone looking to make a flip, New York is ripe with opportunity thanks to low inventory and a constant race to be bigger and better. Within the city, Downtown Manhattan is the ripest fruit on the vine. Full of highly desirable, trendy neighborhoods, it's a hot bed for investors. There's no textbook definition of a flip, but it's generally thought of as a three-year turnover. Downtown there have been 58 apartment swaps within the past three years. We take a look at some of the greatest hits.
This way for all the triumphant flips

Real Estate Trends

June 11, 2014

Your Daily Link Fix: The Return of Cake Man Raven; A “Spacious” Micro Loft

The Return of Cake Man Raven: Price hikes pushed him out of Greenpoint but Cake Man Raven is preparing for a comeback and Brooklyn Magazine is on the trail with details of the baker’s decadent return. Luxury in Bushwick?: It’s a bird! It’s a plane! It’s a… Maserati? No doubt Bushwick is growing and the […]

Uncategorized

June 11, 2014

Chinese Property Company Taps Fortress Investment Group for $165M for the Oosten Williamsburg Condos

Back in 2012, Chinese company Xinyuan Real Estate Co. purchased a $54.2 million, 92,000-square-foot, Kent Ave. site in Williamsburg for its first development in the U.S. — which they said, of course, would be slated for a luxury condo building. Now it looks like their dev team is ready to kick it into high gear and Xinyuan has enlisted the help of Fortress Investment Group in the form of a $165 million loan. An interestingly enough, the project is the beautiful Oosten condo development designed by Dutch architect Piet Boon.
Details and Renderings of Xinyuan's development here

New Developments

June 10, 2014

NYC’s Oldest Buildings: What Are They and Where Are They? Test Your Knowledge

By Jason Carpenter

New York has a lot of old buildings. Perhaps surprisingly, many of those buildings are actually houses (yes, like real houses). These remnants of the early Dutch farming days can be spotted throughout the five boroughs, as can churches, apartments and "skyscrapers" from earlier times. We've rounded up some of the city’s oldest structures. Test your knowledge and see how many you're familiar with ahead. And while you're at it, make plans to visit one of these historic landmarks the next time you're out and about.
Your blast from the past this way

Architecture And Design

June 9, 2014

Brooklyn Navy Yard Gears Up for Expansion, 1.8 Million Square Feet to be Added

Over the years, the Brooklyn Navy Yard has become a modern manufacturing pole, and it has grown to host spaces for everyone from furniture makers to photographers to even financial services companies. Demand for space has grown tremendously, and in response, the Navy Yard has announced plans to create another 1.8 million square feet of space for both future and current tenants looking to grow their businesses.
More of what's in store this way

June 9, 2014

Country-Chic Apartment in Village Townhouse Finds a Buyer for $1.8M

No, we didn't get these pictures from the pages of Country Living magazine, but this stylish home most certainly could grace its cover. The 3BR/2BA apartment in a Greenwich Village Greek Revival townhouse recently sold for $1.795 million through a listing held by Corcoran. Apartment 3FR at 288 West 12th Street is a 950-square-foot, floor-through unit that has been thoughtfully restored to emphasize the home's pre-war character. Original details include three wood-burning fireplaces, wide-plank yellow pine floors, and leaded-glass windows.
Right this way for more design details

June 6, 2014

A Retro NY Home Designed by Frank Lloyd Wright Hits the Market for $795K

By Patty Lee

Frank Lloyd Wright has put his stamp on some of the world's most famous and recognizable structures, including New York City's own Guggenheim Museum. But did you know the prolific architect was also the forefather of a revolutionary style of residential housing that informed the airy, open floor plans seen in many modern homes today? Wright's Prairie style took hold in the Midwest during the early 20th-century and quickly spread across the country, profoundly influencing the built landscape we know today. If you've ever wanted to live in an iconic Wright home, this could be your chance: One of the few prefab Prairie homes designed by the architect has hit the market, and it's just a quick half-hour drive from Manhattan.
Take a tour of the retro, mid-century property

June 5, 2014

A Closer Look at NoMad – Manhattan’s “New” Neighborhood

New York's ever-changing culture is reflected in the surge of new neighborhood names that have sprung up recently — LeDel (below Delancey Street), RAMBO (right around the Manhattan Bridge Overpass), or, one of the most inventive, BoCoCa (the area that is intersected by Boerum Hill, Cobble Hill, and Carroll Gardens). Fortunately or unfortunately, none of these creative monikers have stuck. One that has, though, is NoMad (north of Madison Square Park), bound by 25th Street, 30th Street, Avenue of the Americas, and Lexington Avenue. NoMad has become a go-to place for culture, food, business, and residential opportunities. During the last five years, the neighborhood has seen price-per-square-foot averages rise by 40 percent; the average price per square foot for a condo is now $1,791 compared with $1,279 in 2010.
How did this transformation in NoMad occur? Find out here.

Uncategorized

June 5, 2014

Rooms with a View: Sprawling West Village Penthouse Hits the Market for the First Time at $12.25M

Virtually every inch of this distinctively laid out 3,600-square-foot duplex at 140 Charles Street showcases some of New York’s most coveted views: the Empire State Building, Chrysler Building, Freedom Tower, Statue of Liberty, Brooklyn Bridge, and Hudson River unfold before you in all their majestic splendor. It’s no wonder this home hasn’t been on the market since it was built as part of the The Memphis Downtown (designed by RKTB Architects) in 1985. Perched on the 21st and 22nd floors of the West Village’s tallest condominium, this dramatic residence was professionally designed by award-winning architect Henry Myerberg, founder of HMA2, and those exterior views are yours forever thanks to the visionary work of the Greenwich Village Society for Historic Preservation.
See the rooms, see the views

Distinctive Homes

June 3, 2014

The Results Are In: Rebuild By Design Announces Winning Proposals for Post-Sandy Flood Protection

Over a year after Hurricane Sandy tore through the metro New York area, destroying lives and homes, some areas are still in the process of rebuilding. In an effort to ensure New York City is never caught off guard from a natural disaster like we were in the fall of 2012, the Department of Housing and Urban Development launched Rebuild By Design, a contest to develop ways to rebuild the city’s most vulnerable areas in such a way that they’ll be better prepared for nature’s unpredictability. 140 proposals were submitted over a year ago, coming from 15 different countries. Last June, 10 finalists were chosen to refine their plans, developing protective strategies for all of the vulnerable areas that were struck, and will likely be struck again. After nearly a year, the Department of Housing and Development has just announced six winners that will receive a piece of the federal government's $4 billion disaster-recovery fund.
Take a look at the winning designs here

June 2, 2014

Mix and Match These Stylish New Chairs from Portuguese Furniture Studio TWO.SIX

By Patty Lee

Portuguese furniture studio TWO.SIX is giving the phrase 'Pull up a chair' a colorful new meaning. Known for curating pieces that are both fun and functional, the brand's latest find is the vibrant Bi Silla chair crafted by Silvia Cenal.
Check out the entire collection of colorful seats

June 2, 2014

Massive Soho Loft With Wraparound Terrace Sells for $14.5 Million

When you look at these New York buildings, it’s hard to imagine there’s space for a 7,000-square-foot loft inside. Well, the former home of Justin and Nicole Ehrlich is one of those spaces. 20 Greene Street #6A is definitely deserving of an Academy award with its dramatic tall ceilings and oversized windows. And it just sold to the tune of $14.5 million. This Soho loft, listed by Douglas Elliman, doesn’t do anything halfway. Its giant living room is large enough to be its own apartment, for starters.
Take a closer look at this glamorous loft here

May 30, 2014

One Vanderbilt: New 65-Story Tower Near Grand Central to Stand Taller Than the Chrysler Building

It looks like the Chrysler Building is about to get a new neighbor. According to the New York Times, SL Green has reportedly proposed the development of a 1,200-foot, 65-story tower that would occupy the block between 42nd and 43rd Streets, and Vanderbilt and Madison Avenues. This proposal will have to undergo a review process as part of a new de Blasio administration plan to rezone an area of Vanderbilt Avenue for larger buildings. De Blasio’s proposal is a 2.0 version of a failed bid by Michael Bloomberg that would rezone an area around Grand Central Terminal. Bloomberg’s proposal – which would affect a 73-block area around the terminal - concerned officials and preservationists, who were concerned that the plan would add to the congestion in the area. Fulfilling one of his campaign promises, de Blasio has devised a plan to mitigate those issues as well as keep the city competitive for decades to come, by creating more office space in the prime business location.
Learn more about the iconic tower's new neighbor

Real Estate Trends

May 30, 2014

New Yorker Spotlight: Photographer Barry Rosenthal on Living in the Financial District and Finding Inspiration in Nature

By Susan Cohen

Photographer and artist Barry Rosenthal is inspired by nature. His latest series, Found in Nature, is a response to what he was seeing and feeling while out on beaches. Barry, whose pieces can be found in the permanent collection of the MoMA in New York City and the Springfield Museum of Fine Art in Springfield, Massachusetts, is himself being found through Found in Nature. The series was recently featured in Brazil's National Geographic Magazine. Although Barry works in nature, he has lived in the caverns of the Financial District since 1987. Long before the neighborhood would become popular with young professionals and families, Barry and his wife, Elyn, found that the area — then made up primarily of office buildings — had just what they were looking for: space. Over the last 25 years, they and their daughter Macie, now 18, made the Financial District their home. The family was certainly ahead of the curve. As a New Yorker, I was curious to learn more about Barry. What was it like living in this neighborhood back in the '80s, especially from the perspective of a photographer and artist with a keen eye for observing the world? Why did he decide to head out of his studio and work in nature?
READ THE INTERVIEW WITH BARRY ROSENTHAL HERE

May 30, 2014

The Great Outdoors: 6 Luxurious NYC Penthouses with Envy-Inducing Outdoor Spaces to Boot

Warmer temperatures are finally here, and New Yorkers are well on their way to planning their summer trips — to the Hamptons, Berkshires, Jersey Shore, and any other location where they can relax and soak up the sun. The one problem with all of these destinations, though, is the travel. No one wants to wait in traffic on the Jersey Turnpike or sit on a crowded Jitney bus. So wouldn't it be nice if you could enjoy the nice weather without leaving home? At these six stunning penthouses you can, thanks to their beautiful outdoor spaces.
All the urban oases right this way

Architecture And Design

May 29, 2014

Market Snapshot: The Week of May 29, 2014

An anonymous buyer snagged an 18th - and 19th-floor apartment at 15 Central Park West for $48 million. This purchase is the second most expensive sale in the building, falling "just" $40 million short of former Citigroup CEO Sany Weil's penthouse buy. Most Manhattan apartments don't come with an inch of green space, but the six listings highlighted in our report sure do! Guess which addresses have green escapes hidden from prying eyes... 116 condos sold for an average of $2.4 million; and 137 co-ops sold for an average of $1.2 million during the week of April 28th-May 4th. With summer just around the corner, it looks like buyers are clamoring to close. For market trends, the latest real estate listings, and an inside scoop on the city's coolest buildings, we turn to CityRealty‘s Weekly Market Snapshot for the scoop.
Get the report here

Real Estate Trends

May 29, 2014

Spruce Up Your Desk with Plant-in City’s Modern MINI Terrarium

By Patty Lee

Is your cubicle looking a bit dull these days? Quickly transform your desk from boring to zen with a stackable MINI terrarium designed by Plant-in City, a group that's looking to bring the botanical structures into the 21st century.
Click to see more pictures of the beautiful terrariums

May 29, 2014

Ensoleillé! Soleado! Soleggiato! Yes, This Chelsea Condo at 520 West 19th Street is Sunny

No matter how you say it there’s no denying the bright and airy appeal of this sun-filled home at 520 West 19th Street courtesy of floor-to-ceiling windows in just about every room and its very own 48-foot long landscaped terrace. But if you’re looking to soak up your Vitamin D another way, you’re in luck because this Annabelle Selldorf-designed building is perfectly situated between the High Line and the 550 acre Hudson River Park. So whether you’re in the mood to stretch your legs, picnic, sail, kayak, or paddle-board, you’re covered.
See how sunny living here can be!

Distinctive Homes

May 29, 2014

Billionaire Pier Luigi Loro Piana Buys a Glamourous Carnegie Hill Apartment for $11.3 Million

When you've got billions what's $11.3 million spent on some prime NYC real estate? According to city records filed this morning, Italian billionaire (the 1,067th in the world, and the 22nd in Italy) Pier Luigi Loro Piana just purchased a stunning Carnegie Hill co-op at 980 Fifth Avenue through a listing held by Sotheby's. The Italian fashion magnate crossed the billionaire's mark just last July when he and his brother sold an 80% stake in the Loro Piana fashion line to French billionaire Bernard Arnault's LVMH for $2.6 billion. With plenty of closets in this 3BR/3.5BA, including a 100-square-foot dressing room, the Pianas will have lots of room to store some of the luxurious cashmere and wool suits and sweaters that brought their family such great wealth today. The beautiful home also boasts stunning views of Central Park, and the building itself sparked quite a bit of controversy back in 1966 when it was constructed.
More details this way

May 28, 2014

Thorndale: Turn of the 20th Century Carriage House Becomes Perfect 21st Century Home

At the turn of the 20th century, the first Model T Ford was still almost a decade from leaving the assembly line at the Ford Motor Company’s Piquette Plant in Detroit, Michigan and horse-drawn carriages were the primary mode of transportation. Carriage houses, like the one at 406 West 45th Street, built in 1905 for Oakleigh Thorne, owner of Thorndale Farms in Dutchess County, were necessary to properly store the carriages and associated equipment, such as saddles, stirrups, bridles, halters, reins, bits, harnesses, etc. By 1927, over 15 million Model T-Fords had been produced and the horse and buggy was on its way to being a novelty from a simpler time, and carriage houses were eventually given second lives as garages, offices, workshops, restaurants and, as in the case of the aptly named Thorndale, beautiful residences.
Take a look at the gorgeous conversion

Distinctive Homes

May 27, 2014

Diane von Furstenberg’s Penthouse Sparkles Above Her Meatpacking HQ

The headquarters of the "Queen of the Wrap Dress" (ladies, you know what I'm talking about if you've ever stood in line for one of these sample sales!) is well known for the big, geometric glass structure that sits perched atop the traditional Meatpacking District building. Not so well known, though, is that inside this rooftop crystal is Ms. von Furstenberg's penthouse apartment. And just as you'd expect, the space is full of all of the sleek, yet glamorous style that the designer expresses in her clothing. Conceptualized by Work Architecture, the Diane von Furstenberg headquarters was adapted from this landmarked meat market building to house the firm's flagship store, administrative offices, and production space. The re-imagined rooftop is not only an apartment, but a garden oasis. The staircase, dubbed the "stairdelier" by the architects since it is lined with Swarovski crystals, ties the live/work space together and is its crowning jewel. Descending diagonally through the building's six stories, it reflects light throughout the entire interior.
More about the sparkling staircase and all of the interior eye candy this way

May 22, 2014

Memorial Day Events for the New Yorker Who Wants to Stay Local

By Katrina Otuonye

Memorial Day is just a few days away, and if you're like us, you can't wait to take a break from the daily grind. While many have made plans that will sweep them off to far flung places like Paris, for those looking to stay local, there are plenty of incredible events going on across all of NYC's boroughs — rain or shine. Keep reading for our top events to check out this Memorial Day weekend. It’s going to be a busy few days!
All the events this way

Events & Things To Do

May 22, 2014

15 Broad Street: FiDi’s Downtown by Starck is Anything But

The year is 1928: Scotch tape is first marketed by 3M, the first air-conditioned building opens in San Antonio, the clip-on tie is designed, the NY Yankees sweep the Cards in the 25th World series – and the Equitable Trust Building at 15 Broad Street was completed. For nearly 80 years the L-shaped grey brick stone building would house some of the most influential financial companies in the world, until developer A.I. & Boymelgreen rescued it from certain demolition in 2003 and tasked French architect Phillipe Starck to turn it into a luxury condominium worthy of the financial capital of the world.
Check out #2412 at 15 Broad Street

Distinctive Homes

May 21, 2014

Derek Lam Scoops Up a Light-Filled Apartment in Gramercy Park North for $4.8 Million