The “unbridled luxury” promised for a townhouse at 357 West 17th street is taking shape. Architect Andres Escobar was tapped by Wonder Works Construction Corp., developer of Williamsburg‘s pricey Oosten condominium complex, to turn the five-floor, 25-foot-wide building into a 12,000-square-foot mansion with five bedrooms, eight (!) baths, a glass elevator, a swimming pool and a two-car garage.
Wonder Works purchased the West Chelsea property for $9.35 million in 2014 from designer/developer Karim Rashid, who had lived in–and occasionally rented out–a candy-colored, neon-furnished loft in the existing townhouse. Now, CityRealty.com reveals new renderings from Wonder Works showing a rooftop deck, a chandelier-graced library, a sleek two-car garage and more.
Check out the mansion-to-be
As industry buffs release their year-end reports full of charts and stats, WNYC is taking a different approach, getting an insider’s look with the actual people wheeling and dealing real estate across the city. Launched Monday, “Who’s Buying New York?” is a week-long series that takes a look at the current real estate boom taking New York by storm.
The podcast series investigates the financial muscle behind the supertalls changing our skyline, who’s buying those units in those buildings, and what this all means for the rest of us. Reporters also chat with some high-earning Chinese investors buying apartments in New York they never plan on living in, and they take a look at all the extra moves property owners take to hide their identities.
Find out where to listen to the podcasts here
- Piet Boon‘s Oosten is rising rapidly on its Williamsburg site. See how far construction has come along. [Brownstoner]
- Learn how housing can shift the demographics of an area. [Curbed]
- Brooklyn’s development boom is spreading to Clinton Hill. This map shows a handful of new projects in the pipeline. [DNA Info]
- The LES Lobster Joint will close to make way for a new Ben Shaoul development. [Bowery Boogie]
- The case for living on Roosevelt Island and the changes afoot. [NYT]
Images: How housing and demographics go hand in hand (L); The Oosten in Williamsburg (R)
, Fri, September 12, 2014
A view towards the Williamsburg Bridge. Image © Ray’s Tours
There has always been a somewhat “invisible” line dividing ritzier North Williamsburg and the once-grittier-but-now-gentrifying South Williamsburg neighborhood—and that southern portion’s border is generally considered to be from Grand Street to Division Avenue between Union Avenue and the East River. And though this south side of the neighborhood continues to be populated by a diverse group of residents, new amenity-filled developments are quickly attracting a younger population and pushing prices to match those in the northern part of the nabe. Here, we take a look at some of the most notable developments and a few cool listings bridging the gap ahead.
Find out more here
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