All articles by Devin Gannon

More than half of NYC’s 20 most expensive sales were at One57 and 432 Park

432 Park Avenue via CIM Group/Macklowe Properties

February 26, 2018

More than half of NYC’s 20 most expensive sales were at One57 and 432 Park

By Devin Gannon

The buyer of One57's $100 million penthouse was unveiled as Michael Dell last week, finally solving the mystery of which billionaire set New York City's record for the most expensive home ever sold. The reveal sparked CityRealty's interest in finding out where other costly buildings fall in comparison. Unsurprisingly, Midtown's One57 and 432 Park make up 12 out of the city's 20 priciest homes ever sold with single units going for $100.47 million and $91.5 million, respectively. While those two buildings on Billionaires' Row easily take the top three spots, 15 Central Park West ranks fourth, with its $88 million penthouse sold in 2012.
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Real Estate Trends

The Chinese government now owns the Waldorf Astoria

Photo via Wikimedia

February 23, 2018

The Chinese government now owns the Waldorf Astoria

By Devin Gannon

The Chinese government has taken control over debt-ridden Anbang Insurance Group, a Beijing-based firm known for snatching up prominent properties around the world for billions of dollars. One of those high-profile properties includes New York City's iconic Waldorf Astoria, which the group purchased for $1.95 billion in 2014. According to the New York Times, the government takeover comes after Abang violated regulations, although the exact violations committed are unclear so far. Anbang will be overseen for one year by a group that includes China's central bank, the country's securities and banking regulator, the regular of foreign exchanges and other government agencies.
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Events & Things To Do

MTA approves more than $200M in cosmetic improvements for eight subway stations

Two stations at 34th Street will be renovated; photo via dog97209 on Flickr

February 23, 2018

MTA approves more than $200M in cosmetic improvements for eight subway stations

By Devin Gannon

The board of the Metropolitan Transportation Authority approved on Thursday a $213 million plan to rehabilitate eight subway stations, despite objections from the authority's city representatives. Under Gov. Andrew Cuomo's $1 billion Enhanced Station Initiative, the stations--six in Manhattan and two in the Bronx-- will get outfitted with USB ports, LED lighting, digital countdown clocks and artwork (h/t New York Times). The board first delayed the vote on the construction contracts in January after board members, appointed by Mayor de Blasio, questioned the necessity of these cosmetic improvements when the system's infrastructure remains in desperate need of repair.
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Soon to be largest deliberately demolished tower ever, 270 Park Avenue proposal faces backlash

270 Park Avenue via MikePScott’s Flickr

February 22, 2018

Soon to be largest deliberately demolished tower ever, 270 Park Avenue proposal faces backlash

By Devin Gannon

Plans to replace JPMorgan Chase's current headquarters at 270 Park Avenue with a much taller tower at the same site is facing opposition from architecture and preservation buffs, shortly after the proposal was announced. Not only will the project become the largest intentionally demolished building in history, as YIMBY reported, the landmark-worthy Union Carbide Building was also designed in 1960 by Natalie de Blois, a pioneer of American architecture and one of the few female senior designers at that time. As the first project under the Midtown East rezoning, JPMorgan Chase's existing 700-foot tall structure will be bulldozed to make way for a tower that will most likely be over 1,200 feet tall.
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Billionaire Michael Dell revealed as the secret buyer of One57’s $100M penthouse

Image courtesy of Extell/One57

February 22, 2018

Billionaire Michael Dell revealed as the secret buyer of One57’s $100M penthouse

By Devin Gannon

Founder and CEO of Dell Technologies, Michael Dell, was revealed as the buyer of the sprawling penthouse at One57 for $100.47 million, the most expensive home ever sold in New York City. According to the Wall Street Journal, Dell first entered a contract to buy the unit in 2012 when the Billionaires' Row building, located at 157 West 57th Street, was still under construction. He closed the transaction through a limited liability company in 2014.
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Real Estate Trends

Conceptual proposal envisions futuristic mixed-use NYC project with micro units and drone landings

February 21, 2018

Conceptual proposal envisions futuristic mixed-use NYC project with micro units and drone landings

By Devin Gannon

Although Mayor Bill de Blasio announced last year new mandates to force building owners to reduce greenhouse gas emissions as a way to fight climate change, a Dallas-based architecture firm has taken the idea of sustainable design to the next level. During last month's International Builder's Show, Humphreys & Partners presented a conceptual plan for a mixed-use project on Manhattan's waterfront. In Pier 2: Apartment of the Future, the architects tackled major issues prevalent in many cities, like affordability and energy efficiency (h/t Curbed NY). The futuristic proposal includes two towers with modular and micro-units, which would boast futuristic amenities like artificial intelligence, drones, home automation and more.
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New 70-story JPMorgan Chase tower will be the first project under Midtown East rezoning

A model of what the future 270 Park Ave building might look like via CityRealty

February 21, 2018

New 70-story JPMorgan Chase tower will be the first project under Midtown East rezoning

By Devin Gannon

Mayor Bill de Blasio and JPMorgan Chase announced on Wednesday plans to build a new 70-story world headquarters at the site of the bank's current offices at 270 Park Avenue, the first project under the East Midtown Rezoning plan. Approved by the City Council in August, the rezoning affects 78 blocks running from East 39th Street to East 57th Street and from Third Avenue to Madison Avenue. The updated zoning code is expected to clear the way for 6.5 million square feet of modern office space and allow for taller buildings. JPMorgan Chase's new building will have enough room for about 15,000 employees, compared to the old building's capacity of just 3,500 employees.
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With permit to dig, Elon Musk’s plan for a 29-minute ride between NYC and D.C. inches forward

The tunnel-digging machine; photo via The Boring Company

February 20, 2018

With permit to dig, Elon Musk’s plan for a 29-minute ride between NYC and D.C. inches forward

By Devin Gannon

The Boring Company, led by Elon Musk, received a building permit this week from the Washington, D.C. government, potentially jumpstarting the tech entrepreneur's plan to bring a high-speed tube system between New York City and D.C. Although Musk said last summer he received "verbal" approval from officials, the new, written permit allows preparatory and excavation work to begin on a parking lot on New York Avenue in D.C., the Washington Post reported. The Hyperloop One would be able to take passengers from NYC to D.C., with stops in Philadelphia and Baltimore, in just 29 minutes via a tube moved by electric propulsion.
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Subway stations on the Upper West Side and Astoria to temporarily close this spring

N train at 30th Ave Station via Wikimedia

February 20, 2018

Subway stations on the Upper West Side and Astoria to temporarily close this spring

By Devin Gannon

Thousands of straphangers on the Upper West Side and Astoria will have to rethink their daily commutes come spring, as the Metropolitan Transportation Authority plans on closing some stations for up to six months for repairs and upgrades. The station makeovers fall under the MTA's Enhanced Station Initiative, a plan to improve the reliability and customer experience inside the subway system. Planned enhancements include installing digital countdown clocks at subway entrances, glass barriers, LED lighting and adorning station walls with artwork.
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Transit

Rafael Viñoly’s octagonal-cored Upper East Side tower gets new rendering

Rendering of 249 East 62nd Street via Rafael Viñoly Architects

February 20, 2018

Rafael Viñoly’s octagonal-cored Upper East Side tower gets new rendering

By Devin Gannon

First announced over a year ago and later approved by the city's Department of Buildings in September, Rafael Viñoly’s residential project planned for 249 East 62nd Street moved forward this week after the architect released a new rendering. As YIMBY reported, the 510-foot building will feature retail and a townhouse at its base, with apartments above it through the 12th floor. The uniqueness of this project's design lies with its 150-foot-tall octagonally-shaped core, aimed at raising the height of upper-level apartments without counting it toward usable square footage.
Details here

Popular Articles

Before its summer kickoff, new renderings for Halletts Point’s first rental

February 16, 2018

Before its summer kickoff, new renderings for Halletts Point’s first rental

By Devin Gannon

The first of the Durst Organization's seven-building, $1.5 billion development on the Astoria waterfront got new renderings this week, months ahead of its scheduled opening. As Curbed NY learned, the developer said leasing will launch for the two-tower 10 Halletts Points this summer. The first building to open on the Halletts Point campus, the tower will feature 405 apartments, of which up to 25 percent will be affordable.
More details here

Plan for a performing arts space at the World Trade Center moves forward

Rendering via REX Architecture

February 16, 2018

Plan for a performing arts space at the World Trade Center moves forward

By Devin Gannon

The project to bring a performing arts center to the World Trade Center is finally back on track, almost 15 years after the idea was included in the original vision for rebuilding the area post-9/11. Gov. Andrew Cuomo announced on Thursday an agreement for a 99-year lease between the Port Authority and the World Trade Center Performing Arts Center Inc. (PAC) for $1 per year, paving the way for construction to begin. Named for the billionaire who gifted $75 million to the project, the Ronald O. Perelman Performing Arts Center will include 200,000 square feet of space, three halls and a rehearsal space, a restaurant and a gift shop. If everything moves smoothly, the center could open as soon as the 2020 or 2021 season.
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Three chances to live off Crown Heights’ hip Franklin Avenue for $2,250/month

Little Zelda is a popular cafe in Crown Heights; photo via CityRealty

February 15, 2018

Three chances to live off Crown Heights’ hip Franklin Avenue for $2,250/month

By Devin Gannon

The lottery launched on Thursday for three middle-income units in a new building located just off Crown Height's hip Franklin Avenue. Within walking distance to tasty restaurants and eclectic stores, as well as the Brooklyn Museum and Prospect Park, 615 St. John's Place sits in one of the most coveted areas of Central Brooklyn. Qualifying New Yorkers earning 130 percent of the area median income can apply for the three one-bedroom apartments for $2,250 per month.
Find out if you qualify

Affordable Housing

A 10-minute walk to the subway could save you 10 percent on rent

Photo via Jeffrey Zeldman’s Flickr

February 15, 2018

A 10-minute walk to the subway could save you 10 percent on rent

By Devin Gannon

While amenities like on-site laundry and air conditioning are big selling points in New York City rentals, the building's proximity to the subway remains one of the most important factors when looking for new digs. And like other amenities, there is an added cost to live near the subway. New data from RentHop breaks down how much renters can save by living further from the subway in Manhattan, Brooklyn and Queens. According to their report, as Curbed NY reported, apartments closest to the subway cost 6 to 8 percent more than the borough median, with the furthest costing 8 to 10 percent less.
Details here

Fearless Girl and Charging Bull statues might relocate from Wall Street

Fearless Girl and Charging Bull statues on Wall Street; via Anthony Quintano’s Flickr

February 15, 2018

Fearless Girl and Charging Bull statues might relocate from Wall Street

By Devin Gannon

The temporary bronze sculpture that has attracted millions of tourists and locals could become a permanent fixture in New York City, according to Adweek. Commissioned by State Street Global Advisors, the Fearless Girl statue was installed last March, a day before International Women's Day, sending a message to Wall Street for the need of gender equality in the financial world. With her chin up and hands firmly on her hips, the 250-pound statue defiantly faces the iconic Charging Bull statue, which has stood in the same spot since 1989. And now the city might relocate the pair of statues from Bowling Green Park in lower Manhattan to another, more pedestrian-friendly home to ease safety concerns.
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Events & Things To Do

New York City’s priciest townhouse sets another record after $90M sale

February 15, 2018

New York City’s priciest townhouse sets another record after $90M sale

By Devin Gannon

Billionaire Len Blavatnik has broken the city's record for the most expensive townhouse after paying $90 million for an Upper East Side mansion, according to the New York Post. The seller, HNA Group, sold the home at 19 East 64th Street after recently picking it up in April for $79.5 million, a record at the time. Blavatnik, a music executive who already owns a home on 64th Street and paid $80 million for a home at 834 Fifth Avenue, has an estimated net worth of around $20.5 billion.
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Real Estate Trends

RPA report envisions New Jersey’s Meadowlands as the first ‘Climate Change National Park’

Via ORG Permanent Modernity/Regional Plan Association

February 14, 2018

RPA report envisions New Jersey’s Meadowlands as the first ‘Climate Change National Park’

By Devin Gannon

Released last fall, the Regional Plan Association's (RPA) Fourth Plan includes 61 recommendations focused on improving and expanding the area's deteriorating infrastructure, transportation, and affordability, much of which revolves around climate change and its transformation of the region. According to the report, more than one million people and 650,000 jobs are at risk of flooding due to rising sea levels. In the plan, the RPA ambitiously recommends that the New Jersey Meadowlands, 21,000 acres of low-lying wetlands, becomes a national park as a way to mitigate impacts of climate change (h/t Curbed). Designating the region's largest wetland as a national park would restore the natural habits, protect nearby communities, and create a recreational space, becoming, the report says, a "Climate Change National Park." The Meadowlands National Park would adapt and grow with climate change by drawing and redrawing the boundaries of the park as coastlines change.
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Collection of antique Valentines explores expressions of love over three centuries

Fold-open Valentine card, German (1900); courtesy of The Huntington Library, Art Collections, and Botanical Gardens

February 14, 2018

Collection of antique Valentines explores expressions of love over three centuries

By Devin Gannon

While a simple and perhaps less swanky gesture than diamonds and roses, a Valentine's Day card remains one of the most popular ways to say "I love you" every February 14. This year Americans will exchange about 190 million greeting cards during the holiday, spending nearly $1 billion on them. A collection of antique paper Valentines from The Huntington Library, Art Collections, and Botanical Gardens proves this is not a 21st-century phenomenon. The museum, located in San Marino, CA, acquired a collection of about 12,300 romantic greeting cards, sentimental notes and drawings made in Europe and North America from 1684 to 1970 (h/t NY Times). A historian from New Jersey, Nancy Rosin, put together the impressive collection of cards over four decades and her family recently donated them to the museum.
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Events & Things To Do

986-foot Flatbush Avenue tower in Downtown Brooklyn gets revised renderings

February 13, 2018

986-foot Flatbush Avenue tower in Downtown Brooklyn gets revised renderings

By Devin Gannon

Ahead of its public review, Alloy Development this week released new details and renderings of its proposed mixed-use development at 80 Flatbush Avenue in Downtown Brooklyn. Developers amended the complex's design, first released in April, following backlash from the community and more than 100 meetings with local stakeholders. While the taller tower will keep its original design with 74 stories, the 38-story building's profile will be slimmed and feature a masonry facade to complement the neighboring Williamsburgh Savings Bank Tower.
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Real Estate Trends

See NYC’s hot spots in real-time on Snapchat’s new crowd-sourced web map

Photo via Pexels

February 13, 2018

See NYC’s hot spots in real-time on Snapchat’s new crowd-sourced web map

By Devin Gannon

Snapchat on Monday announced that its "Snap Map," a feature which allows users to view posts from around the world, will be available on the web, giving those without the social media app a chance to check out events happening near them. In addition to now existing outside of the Snapchat app, the browser version of the map lets snappers embed content from the map onto web pages, much like how Twitter or Instagram permits (h/t WIRED). Hot spots on the map, areas with lots of posts, glow green or blue; heavy traffic locations light up red and orange. Today in New York users are filling up "Our Story" with posts from New York Fashion Week, the September 11th Memorial, and the Empire State Building.
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Policy

New York City’s subway system has a water problem- a 13 million gallon one

Workers pumping seawater out of the L-train tunnel after Hurricane Sandy in 2012, photo courtesy of the MTA on Flickr

February 13, 2018

New York City’s subway system has a water problem- a 13 million gallon one

By Devin Gannon

The subway's crippling, century-old infrastructure is not the only reason behind the system's constant delays and disruptions. The other problem involves about 13 million gallons of water, or more depending on the rainfall, that gets pumped out from underground on a nearly daily basis. A perpetual hazard, water can drip onto electrified equipment, cause a short and create chaos, as the New York Times reported. After ineffectively using only sandbags and plywood to fight flooding in the past, the Metropolitan Transportation Authority has turned to more high-tech solutions, like flood-proof doors and inflatable gaskets, which will be a part of its $800 million emergency action plan to fix the subway.
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Transit

Interactive map identifies the New York City neighborhoods most underserved by transit

Map via AllTransit

February 12, 2018

Interactive map identifies the New York City neighborhoods most underserved by transit

By Devin Gannon

Nearly 29 percent of New York City households are underserved by transit, according to data from the Center for Neighborhood Technology and TransitCenter. In a joint project, called AllTransit, the team put together a collection of transit data that includes 15,000 routes and 800 agencies in the United States. A tool called Gap Finder identifies gaps in U.S. cities where underserved communities would benefit from improved service.
Explore it here

Transit

Trump’s long-awaited infrastructure plan won’t fund Gateway project

Photo via The Gateway Program Development Corporation

February 12, 2018

Trump’s long-awaited infrastructure plan won’t fund Gateway project

By Devin Gannon

President Donald Trump on Monday released his $200 billion infrastructure plan and it does not look good for New York and New Jersey. Because the plan shifts the financial burden from the federal government onto states and localities, relying on incentives to spur private investment, major projects will struggle to find funding. This includes the Gateway Tunnel project, a proposal to construct a new rail tunnel under the Hudson River and repair the existing one. As the only intercity passenger rail crossing into NYC from NJ, the tunnel is a critical link for nearly 200,000 daily passengers. While the Obama administration considered Gateway a priority and committed half of the project's cost in 2015, the Trump administration has scoffed at the idea.
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New renderings revealed for SCDA’s flashy 11-story condo on the High Line

Rendering via Neoscape

February 9, 2018

New renderings revealed for SCDA’s flashy 11-story condo on the High Line

By Devin Gannon

A swath of new renderings of SCDA Architects' condo tower was released this week, more than three years after the project was first announced in 2014. As Curbed NY learned, the new renderings of the building, located, at 515 West 29th Street, show a glass fin facade and the interiors of the 15 planned apartments, including five penthouses. Forum Absolute Capital Partners is developing the tower, dubbed Five One Five, which will contain two- and three-bedroom units ranging from $4.3 million to $8.5 million. CORE is handling sales and marketing.
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Google to expand footprint at Chelsea’s Pier 57

Rendering via RXR Realty

February 9, 2018

Google to expand footprint at Chelsea’s Pier 57

By Devin Gannon

Earlier this week, Google entered into a contract with Jamestown LP to buy the Chelsea Market building for nearly $2.5 billion, the second largest single sale in New York City's history. And on Friday, Google reached a tentative deal to expand its footprint at Pier 57, adding another 70,000 square feet of space to its prior 250,000-square-foot agreement. According to Crain's, the lease will include an additional 50,000 square feet of educational activities and a new ferry landing.
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Real Estate Trends

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