Today’s real estate news highlights:
- Conversions, condos, rising land prices, and, of course, more coffee shops. It looks like Crown Heights is “having a moment” as Brooklyn’s new “it” neighborhood. [New York Times]
- Oh, it looks like East New York’s moment has arrived as well — though this change has a bit more substance. Under the Mayor Deblasio’s new initiative, City Planning Commission Chairman Carl Weisbrod aims to spur a renaissance by rezoning the area to suit “thousands of residential units ringed by mixed-use corridors and bisected by a reimagined Atlantic Avenue”. [Crain’s]
- Ben Shaoul, the head of Magnum Real Estate Group, is in contract for the hotly sought after 199-unit Post Toscana and the 138-unit Post Luminaria rental buildings. Broken down Shaoul is paying about $800K a unit. He plans to turn the two buildings into condos. [NY Post]
- Time Equities launches sales at its 64-story luxury residential tower at 50 West Street and Rector Street. Prices per unit start at about $1.6M. [The Real Deal]
- James von Klemperer, a principal at Kohn Pedersen Fox Associates, says that the new tower designed for 1 Vanderbilt will “unbury views of Grand Central”. The 1,300-foot structure will mostly be made of a low-iron super clear glass, similar to what was used for the Fifth Avenue Apple cube. Other design details include indoor greenery, art spaces, and diagonal shapes of double-glazed terracotta for a lustrous look that references the masonry walls found in Grand Central. [DNA Info]
- After two previous attempts to build a $100 million project at the Brooklyn Navy Yard, the industrial park’s manager has issued another request for proposals to develop the 6-acre site and a smaller neighboring area that would host a supermarket and space for industrial and office use. [Crain’s]
1 Vanderbilt (left); Crown Heights (right)
Demolition permits have been filed with the Department of Buildings for the tallest condominium building south of ‘Billionaires’ Row.’ The approximately 950-foot tower revealed by real-estate blogger YIMBY last month will house 129 condos within a dramatic champagne flute-like design by the architects Kohn Pedersen Fox Associates.
Tentatively named 101 TriBeCa, the uppermost floorplates increase in size to take greater advantage of views uptown and towards the river that most likely will remain unobstructed years to come due to restrictive zoning in TriBeCa and Battery Park City.
more on the new tower here
There are skyscrapers going up left and right all over Manhattan, and in the race to build the loftiest and the glassiest, big name developers are seeking out even bigger name architects to brand their supertalls with iconic designs. As part of their ongoing Palaces for the People: Guastavino and the Art of Structural Tile series, the Museum of the City of New York will be hosting what’s sure to be a riveting panel in which several of the world’s leading architects and engineers will be discussing how they approach the design and construction challenges that come with building 100 stories and up.
Details on how to attend here
- For the week of May 19, 2014, 81 condos sold for an average price of $3.1 million, while 123 coops sold for an average of $1.3 million. The Walker Tower, One57, and the newly opened Marquand stole the top three spots for most expensive sales that week.
- NYC’s soon-to-be-tallest residential tower at 432 Park Avenue surpassed its 1,000-ft mark this week and is now taller than any rooftop north of the Empire State Building. The Vinoly-designed building will top out at 1,397 feet – taller even than One World Trade Center.
- Beauty or beast? We take a closer look at the Herzog & de Meuron-designed 40 Bond — form, function, sales prices and all.
For market trends, top residential sales, and the latest starchitecture news, we turn to CityRealty‘s Weekly Market Snapshot for the scoop.
get the report here
Some people have great hair that never goes astray.
That made me think about buildings with their new-fangled window-washer rigs. They’re not new but the recent “gold rush” of high-end residential condominiums have led some developers to design curious new building forms that would appear to be major obstacle courses for those marvelous skywalkers who brave the elements and have never experienced a tinge of acrophobia.
The faint-hearted, of course, prefer sheer city cliffs, but only the bravest descend from the heights over the new often bumpy terrain.
Sherpas not needed
Downtown Brooklyn is booming across the board, and buyers are keen to get in on the changes afoot. Five months after hitting the market, Brooklyn’s tallest tower is filling out fast, with half of the units now leased. The SLCE Architects-designed residential skyscraper at 388 Bridge Street rises 590 feet, with 234 rentals and 144 are condominiums spread across 53 stories. The Stahl Organization, who developed the building, says that units are going at a rate of about one per day. 90 apartments remain, and prices range from $2,700 per month for a studio to $6,290 for a two-bedroom apartment.
[Via The Real Deal]
Image via Brooklyn Eagle
A new 80-unit condominium tower at 45 East 22nd street will bring the distance between New York’s two preeminent skylines a bit closer. Ian Bruce Eichner’s, Continuum Company has plans to build the loftiest skyscraper between the Empire State Building (1,250 feet) in Midtown and the Woolworth Building (792 feet) in the Financial District. The project designed by the high-rise pros of Kohn Pedersen Fox Associates, stretches skyward 60 floors — a whopping 778 feet from an unassuming 50-foot wide lot currently occupied by two row-homes.
We recently stopped by the site to see how things are coming along, and it looks like demolition has just started. Check out our survey and snaps of the project ahead.
More photos and renderings here
One of the city’s noblest professions is “sidewalk superintendent.” These intrepid pedestrians love to peer through holes in the wall to watch large equipment playing the construction game. The more sophisticated of these curiosity-seekers also look for holes in the city’s facades to glimpse the progress of larger-than-normal, future skyline stars.
You can imagine the astonishment, therefore, when I noticed, a couple of days ago, that 432 Park Avenue had adopted a “patriotic” stance, and that its fenestration grid now is highlighted, from top down, in red, blue and white, the colors of the American flag, and also the French flag — a stark divergence from the pristine, streamlined design set out by the building’s architect, Rafael Vinoly.
For sidewalk superintendents, the former Drake is startlingly colorful
New York YIMBY has given us our first look of developer Bruce Eichner‘s tower planned for 41 East 22nd Street.
The 777-foot skyscraper, designed by Kohn Pederson Fox and Goldstein Hill & West, will boast 60 stories hosting 81 residential units. Though the easiest way to characterize the new development is crazy tall (it’s set to trump neighboring One Madison by 150 feet) the architectural team gave the structure a bit of flair by way of a massive cantilever, and a very angular, dynamic crown.
[Via New York YIMBY]