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August 4, 2014

Mythbusters: Shedding Light on 80/20 Affordable Housing and ‘Poor Doors’

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There’s been lots of chatter on the street and in the media on the subject of “poor doors” in new developments for those who have qualified for affordable housing. And though this subject has created quite a bit of controversy, it's actually not quite what it seems. Rather than being outraged that our city allows real estate developers to “discriminate” against those who could never consider paying for the privilege of residing in their latest and greatest luxury building, naysayers should think about reading up on exactly what affordable housing is and isn’t—“rich” home seekers having an edge over the so-called “poor.”
We look at 80/20 and the 'poor door' controversy here
$20 Million Chelsea Penthouse Has Its Own Garage… in the Sky
August 4, 2014

$20 Million Chelsea Penthouse Has Its Own Garage… in the Sky

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Living in a pedestrian town has its perks. Everything is at your feet, and you don’t have to deal with grueling traffic if you don’t want to. But what about those days when you’re out in the elements and the weather is bad? Don’t you just wish you could hop in your car and go about your day? But then there’s parking… Oh wait, that’s not an issue for us because we’re living in the Selldorf Architects-designed Chelsea tower at 200 Eleventh Avenue, which means we have our own en suite sky garage. That’s right. You’re about to take a look inside the impressive 3,598-square-foot penthouse of this unprecedented building. You’re welcome.
You won't believe your eyes when you click here
Prices and More Images of the Landmark Beekman Hotel and Condo Conversion Revealed
August 4, 2014

Prices and More Images of the Landmark Beekman Hotel and Condo Conversion Revealed

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It was announced back in May that the Beekman Hotel would finally being seeing its rebirth as a brand new condo and hotel. Now, not only has pricing for the 68-unit tower been revealed, but we're seeing a few new images of what's in store for the historic structure that has been shuttered for the last 20 years. As seen in the new renderings, the landmark building will be topped off with a conjoining 51-story condominium tower, creating a 68 residential units designed by Thomas Juul-Hansen. Though fully integrated, residents of the Beekman will have their own private entrance and lobby, located on Nassau Street, and the lower levels of the building will host 287 hotel rooms with a separate access point provided on Beekman Street. All occupants will have access to the hotel's amenities.
Find out more here
New Yorker Spotlight: Matthew Namie of Paris Framemakers on the Art of Framing
August 1, 2014

New Yorker Spotlight: Matthew Namie of Paris Framemakers on the Art of Framing

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Painters, portraitists, and photographers--the visual artists tend to get all the credit. But there is another type of art that goes into making a piece beautiful, and that is the art of framing.  Most of us rarely think about this component, but for Matthew Namie, it’s always on his mind. As a salesperson at Paris Framemakers on the Upper West Side, he works with customers to make sure their prized artworks  are framed just right. Paris Framemakers, located on 75th and Amsterdam, opened twenty years ago, and also has stores on 81st and Madison and 100th and Broadway. Matthew is a recent addition to Paris, but not to framing. He has seven years of experience under his belt and a keen eye when it comes to frames, mats, and glass. He will soon be heading across town to serve as the manager at the Upper East Side location. While working with Matthew on my own framing needs, I realized that many New Yorkers don't know the intricacies of this craft. So, I recently popped into Paris Framemakers to learn all about the art of framing and Matthew’s expertise.
Read the full interview right this way
Gorgeous Versailles-Inspired Townhouse with Sweeping Staircase Sells for $6.7 Million
July 28, 2014

Gorgeous Versailles-Inspired Townhouse with Sweeping Staircase Sells for $6.7 Million

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It probably seems odd for a New York apartment to spark visions of Scarlet O’Hara walking down a staircase. And where is this apartment? It’s not in Brooklyn, or even on the Upper East Side. Ladies and gentlemen you are in Tribeca, where developer and homeowner Gizman Abbas decided to forgo the typical warehouse look in favor of a more palatial, classic look inspired by a trip to Versailles. And if you’re not fascinated by the old world details, let us remind you that just because a home looks like the backdrop for a period piece, doesn’t mean it can’t be rigged with enough modern-day technology to rival Bill Gates. Because our friend Mr. Abbas has traveled to more places than just Versailles, and his cup of inspiration runneth over. It was apparently enough to convince New York attorney Tracey Anne Zaccone. According to city records, Zaccone just purchased the home for $6.7 million, and it looks like she got a steal of a deal.
You’ll see what we’re talking about here
Live in Billy Joel’s Hamptons Home for Just $250K?
July 24, 2014

Live in Billy Joel’s Hamptons Home for Just $250K?

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How would you like to live in the Piano Man’s Hamptons home? Well, for all you Billy Joel fans, your moment in the sun has come, because for just $250,000 you can have his Hamptons home for all of… the month of August. It appears that after experiencing a somewhat turbulent journey with this home—the house has been on and off the market several times since 2009—Joel and his pad are parting ways yet again, and this time he’s spiced up his offer a bit. Not only has the price dropped from an astronomical $23.5 million to a slightly less astronomical $19.95 million, but the singer/songwriter has apparently opened his eyes to the possibility of renting… however pricey. Baby steps. We’ve all seen this phenomenon when a seller has such a personal attachment to a home that they can’t seem to price it reasonably? Is this one of those instances? Or is the Sagaponack home worth the cost? You be the judge.
Find out more about the home and take a look inside, here
Stop the Presses: You Can Reside at the St. Regis for Only $389K. Well, Sort of…
July 22, 2014

Stop the Presses: You Can Reside at the St. Regis for Only $389K. Well, Sort of…

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Here’s a great little twist on the New York City real estate market, courtesy of the recent trend to convert rooms in some of Manhattan’s most exclusive hotels into condominium apartments: fractional ownership—the timeshare to end all timeshares. That’s right, now you can savor the pleasure of residing at one of the most glamorous addresses in the world with all the amenities the St. Regis has to offer, including the Remede Spa and Fitness center, salon, twice daily maid service, and 24-hour butler service—all without having to shell out the multimillion dollar sums typically associated with this kind of elegant living.
See what fractional ownership puts within reach
Back to Blueprints: House Hunters Are Buying Sight Unseen, Much Like the Pre-Crash Days
July 21, 2014

Back to Blueprints: House Hunters Are Buying Sight Unseen, Much Like the Pre-Crash Days

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In the mid-2000s, when the real estate market was red hot with new developments, home seekers gave nary a thought to making what can be described as the biggest decision of their lives: Buying something sight unseen. For them, traipsing through model apartments, checking out pretty renderings, gawking at miniature models, stroking teensy squares of countertop finishes, thumbing through shiny marketing materials filled with information on everything but the kitchen sink to make an actual purchase was par for the course. (Oh, wait! They did include the kitchen sink.) But then all that changed by late 2007 when the stock market took a nosedive. Not a single potential buyer would even consider a new place to hang their hats without actually standing inside a frameless glass shower stall, checking out the size of a Sub-Zero refrigerator or getting high from real-time views seen through floor-to-ceiling window—and developers took note. But that was then and this is now, and with an improving economy and increasing demand, the tides seem to have turned once again.
Is buying off blueprint back in full force?
The New York Architecture Day Trip: From Colonial to Deconstructivism in Manhattan
July 20, 2014

The New York Architecture Day Trip: From Colonial to Deconstructivism in Manhattan

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New York has a long history of great architecture. From the very beginnings in the colonial period to today, there are more great buildings to see in New York than anywhere else on the planet. Thankfully, with this guide, you can see them all in one simple south-north trip across Manhattan. Many great buildings are too tall or difficult to see up close, so we've chosen an example of each style of New York architecture that can also be appreciated from the ground level, rather than forcing you to gawk straight up at a skyscraper. Check out our New York architecture day trip.
Get your itinerary here
Bookworms Rejoice: Upper East Side Mansion Boasts Palatial, Double-Height Library
July 20, 2014

Bookworms Rejoice: Upper East Side Mansion Boasts Palatial, Double-Height Library

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Most of us in Manhattan are lucky if we can find room to fit one, tiny bookshelf in our homes, so you can imagine our reactions when we saw the opulent, two-story library at 12 East 69th Street. Not only does it make us ashamed of our puny literature collections, but the room is at least three times the size of our apartments. The celestial ceiling mural, massive amount of black walnut built-in shelving, and custom spiral staircase are also making us green with envy.  Non bookworms, have no fear--this house has an equally regal, double-height media room, which comes complete with sound-proof walls, rich wood paneling, a 12-foot screen, and plush velvet seats.
You don't want to miss the rest of the palatial digs
From Luggage to Luxury Hotel: Grzywinski + Pons-Designed Mixed-Use Building Rising at 119 Orchard Street
July 15, 2014

From Luggage to Luxury Hotel: Grzywinski + Pons-Designed Mixed-Use Building Rising at 119 Orchard Street

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The times they are a-changin. At least on Orchard Street, which used to be littered with affordable clothing and luggage stores and home to the famous Saturday street vendors peddling their wares. Today, upscale boutiques and trendy restaurants have moved in, along with rising rents, and 119 Orchard Street is the latest convert. For over 40 years, Fine & Klein Handbags operated out of the storefront, but closed their doors in 2007. Shortly thereafter in 2008, SAS Property Management bought the property for $4.22 million, filed plans for a new 40-room hotel, and tore down the building in November 2010. Three years later, the plans were amended for a 10-story mixed use space, containing 16 hotel rooms and four residential units. Interestingly, the building height was the same in both renditions. Construction has already commenced, and we've just spotted a few new renderings on architect Grzywinski + Pons' website.
Take a look at the construction photos as well as building renderings
The Cartier Mansion Shines Again with the Help of Andre Tchelistcheff Architects
July 12, 2014

The Cartier Mansion Shines Again with the Help of Andre Tchelistcheff Architects

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Restoring historic landmarks is never an easy task, but a careful, attention-driven job can help a former gem shine again. That's the case behind the renewal of this Upper East Side townhouse, also known as the Cartier Mansion. Together, Andre Tchelistcheff Architects and interior designer David Anthony Easton worked to restore the gorgeous Beaux-Arts building to its former glory.
More pictures of the grand townhouse straight ahead
New Yorker Spotlight: Lisle Richards and Eric Marx, The Duo Behind the Monarch Room Restaurant
July 11, 2014

New Yorker Spotlight: Lisle Richards and Eric Marx, The Duo Behind the Monarch Room Restaurant

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Opening one restaurant is hard, but two in a month is a serious feat. But this is New York City, and restaurateurs Lisle Richards and Eric Marx were ready for a challenge. Between January and February of this year the duo opened up two of Manhattan’s hippest and most most talked about new haunts: The Monarch Room and The Wayfarer.
Our interview with the restauranteurs here
New York vs. London: A Real Estate Challenge on Both Sides of the Pond
July 10, 2014

New York vs. London: A Real Estate Challenge on Both Sides of the Pond

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While we're all still in the patriotic mood after the July 4th festivities, we thought it appropriate to put together a friendly little challenge between New York City and her cross-pond ally and sometimes rival, (what are the kids calling it these days, a frenemy?). In the left corner is NYC, global hub of finance and media, weighing in with a population of 8,405,837. And in the right corner we have London, the world's most-visited city, population 8,416,535. According to British real estate website Zoopla, the average price of a Central London home over the past year is £1.1 million or $2 million in U.S. dollars, topping the $1.6 million average selling price of residences in the core of Manhattan.
See how the cities battle it out in our three-round real-estate showdown
You Will Go ‘Gaga’ When You Learn Who Once Lived in the Building of This $4.5M Upper West Side Residence
July 8, 2014

You Will Go ‘Gaga’ When You Learn Who Once Lived in the Building of This $4.5M Upper West Side Residence

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The historic building standing at 135 West 70th Street was built in 1927 to serve as a singular meeting place for all the Knights of Pythias lodges of NYC. Designed by architect Thomas W. Lamb, best known for his ornate movie palaces, it’s no wonder that the Pythian is richly decorated in brightly colored and glazed terra cotta embellishments. Though converted to a condominium in 1983, architect David Gura was careful to retain most of the building's ornamental features. Taking great pains to ensure that elements removed from their original positions were salvaged for use elsewhere within the building, his renovation earned a residential design award from the New York Chapter of the American Institute of Architects.
 See why this apartment has earned our applause
New Yorker Spotlight: Alina Cheung of Terracotta NY on How Her Investment Banking Past Inspired a Bowtie Business
July 3, 2014

New Yorker Spotlight: Alina Cheung of Terracotta NY on How Her Investment Banking Past Inspired a Bowtie Business

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As investment banking analysts at Credit Suisse, Alina Cheung and Yidi Xu spent their days surrounded by men in ties. Little did they know that these men, and their ties, would later inspire them to leave investment banking behind. While crunching numbers and working on Excel spreadsheets, they found themselves thinking a lot about the prints on those ties. It was not long before Alina and Yidi realized they wanted the prints for themselves. And if they wanted them, they thought other women would too. With that thought, Terracotta New York, an accessories company, was born.
Read our interview with Alina here
Law & Order Star Sells Noho Loft for $3.25 Million
June 26, 2014

Law & Order Star Sells Noho Loft for $3.25 Million

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According to city records, Law & Order; SVU star B.D Wong has officially sold his East 4th Street apartment for asking, after being in contract since March. The ground floor loft has a below-ground bedroom and a colorful palette that reminds us of something a stylish interior designer would create for the Joker’s bachelor pad, assuming the Joker wants to pick up chicks. But we digress…
Take a look inside this spectacular loft here
Iconic Dean & Deluca Loft Purchased by Vidal Sassoon’s Widow
June 26, 2014

Iconic Dean & Deluca Loft Purchased by Vidal Sassoon’s Widow

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Ready for a sale where the space is just as famous as the people involved? We’ve got one for you. This iconic loft at 133 Wooster Street has been featured in the New York Times and was the very spot where the Dean & DeLuca cookbook was created. Well, how did this apartment get to be so special? Because it’s owned by Dean & Deluca co-founder Jack Ceglic.
But it gets even more interesting after the jump
Real Estate Wire: Bed Stuy Getting 50 New Condos; Brooklyn’s Tallest Building Killing It in Sales
June 24, 2014

Real Estate Wire: Bed Stuy Getting 50 New Condos; Brooklyn’s Tallest Building Killing It in Sales

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We roundup today’s residential real estate news highlights for one digestible bite: Bed Stuy is getting a brand new 10-story mixed-use building complete with 50 apartments [Brownstoner] NYC gets a rent hike! Of 1%… The lowest ever recorded [New York Post] South Slope’s newest condo development just placed its units on the market. The cheapest […]

Jared Kushner and LIVWRK Make Plans to Buy a Gowanus Property, Possibly for Luxury Condos
June 18, 2014

Jared Kushner and LIVWRK Make Plans to Buy a Gowanus Property, Possibly for Luxury Condos

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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
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