If you’re looking for a pied-a-terre in the coveted historic Gramercy Park, you’re in luck. An adorable one-bedroom penthouse at 206 East 18th Street has just popped up on the market, and it’s the perfect setting for anything from dinner parties to book club. This charming pad won us over with a lovely skylit living room, so we had to take a look inside to see what else it has in store.
Real Estate Wire: Puff Daddy Price Chops His Park Imperial Haven; More New Yorkers Installing Solar Panels, Mon, August 11, 2014
- Puff Daddy, P. Diddy, Sean Combs—whatever you want to call him—has re-listed his 2,292-square-foot Park Imperial loft for $7.9M. The new listing sees a $500K price reduction. [Curbed]
- New York is lagging other major cities in its pace of residential construction. Permits for 17,995 new housing units were issued in 2013—a little more than half of the units authorized in 2008. [WSJ]
- More New Yorkers are installing solar panels. The number of installations in Con-Ed serviced areas doubled last year alone. [WSJ]
- Fearing the loss of below market-rate apartments at Stuyvesant Town-Peter Cooper Village, the de Blasio administration has reached an agreement to extend talks with CWCapital to find a way to preserve the complexes’ affordable units. [TRD]
- Moinian Group is expected to file for permits to break ground on its 66-story West Side tower just north of Hudson Yards. [Crain’s]
P. Diddy’s digs (left); Solar array (right)
Photo via Wiki Commons
Here we go again. Stuyvesant Town and Peter Cooper Village on Manhattan’s east side have a long history of being an affordable option for middle-income workers. But these days its hold on that place in the city’s housing landscape appears tenuous at best.
Though rent-stabilizations laws have been in effect for many units and about half are below-market rates, the remainder is comprised of luxury apartments, with one-bedroom units fetching as much as $2,900 a month, more than double the rate in 2006 when nearly ¾ of the units were below market. And with the property poised to sell for billions of dollars, the trend towards more luxury rentals seems likely.