Bed-Stuy

Two new impressive units just hit the market at New York City's most slender supertall. At 111 West 57th Street, a three-level, four-bedroom penthouse with over 7,000 square feet of interior space and an additional 1,367 square feet in private outdoor space with picture-perfect views over Central Park has hit the market for $66 million. And a duplex with three bedrooms and unobstructed park views is now asking $39.5 million. The latest multi-million dollar listings at the Billionaires' Row tower come after two $30 million units sold earlier this summer during the coronavirus shut down, giving a boost to the city's nearly stagnant luxury market.
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Listing photos by RISE Media, courtesy of The Corcoran Group

September 3, 2020

$1.65M Bed-Stuy townhouse has two apartments and lots of character

This Bed-Stuy townhouse 671 Hancock Street has a lot going for it. First, it's got tons of character, including rustic brick walls and exposed ceiling beams. Second, it's a two-family with an owner's duplex and a garden rental. And third, the $1,650,000 price makes it a great investment for all that you're getting.
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Distinctive Homes

8 middle-income units available at new Bed-Stuy rental, from $2,156/month

The recently reopened Nostrand Avenue LIRR station. Photo: Metropolitan Transportation Authority/Patrick Cashin via Flickr cc

August 12, 2020

8 middle-income units available at new Bed-Stuy rental, from $2,156/month

The recently reopened Nostrand Avenue LIRR station. Photo: Metropolitan Transportation Authority/Patrick Cashin via Flickr cc On the border of Bed-Stuy and Crown Heights, a new rental building at 570 Nostrand Avenue is accepting applications for eight middle-income apartments. The $2,156/month studios, $2,245/month one-bedrooms, and $2,710/month two-bedrooms are available to households earning 130 percent of the area median income. The building has washer/dryers in the units, and is conveniently located to three major subway lines and the LIRR, as well as to all the cool restaurants and bars along Franklin Avenue.
Find out if you qualify

Affordable Housing

$100M penthouse closes at 220 Central Park South, third-most-expensive NYC sale ever

Photo of 220 Central Park South in front of 111 West 57th Street (cropped) by Jim Henderson via Wikimedia Commons

July 28, 2020

$100M penthouse closes at 220 Central Park South, third-most-expensive NYC sale ever

Photo of 220 Central Park South in front of 111 West 57th Street (cropped) by Jim Henderson via Wikimedia Commons As of July 1, 2020, the average price per square foot for a New York City condo came in at $1,110, according to CityRealty. But this duplex penthouse at 220 Central Park South sold for a whopping $12,164 per square foot. First spotted by The Real Deal and confirmed in city property records, PH 76 at the Billionaires' Row tower just closed for $99,903,375, making it the third-most-expensive sale ever, behind billionaire Ken Griffith’s $238 million purchase also at 220 CPS in early 2019 and Michael Dell’s $100 million buy at One57 in 2015. The sale takes the number-three spot from a $92.7 million sale at 220 CPS, which sold in late 2019 to billionaire hedge-funder Daniel Och.
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Real Estate Trends

See inside an apartment at the world’s tallest residential building

Photo by Evan Joseph

July 24, 2020

See inside an apartment at the world’s tallest residential building

It's been nearly two years since sales launched at Extell's Central Park Tower and one year since the 1,500-foot condominium topped out along Central Park South, making it the tallest residential building on the globe. And now, we've got our first look inside one of the enviable apartments at this Billionaires' Row building. The model residence is a 3,401-square-foot, three-bedroom corner unit on the 43rd floor, priced at $17,500,000. Not surprisingly, the interiors are decked out to the nines, but, of course, it's the insane views we can't stop ogling.
Take the full tour

$2.5M Central Park South penthouse has a wrap-around rooftop with beer taps, grills, and a ‘lawn’

Images courtesy of Brown Harris Stevens

June 11, 2020

$2.5M Central Park South penthouse has a wrap-around rooftop with beer taps, grills, and a ‘lawn’

A heated pergola, outdoor kitchen with both barbecue and teppanyaki grills, beer taps, a wine fridge, entertainment center, outdoor lounge, and a recreation "lawn" -- this is just some of what you'll get at this Central Park South's wrap-around rooftop terrace. The two-bedroom penthouse at 152 West 58th Street also has incredible views of the adjacent skyscrapers along Billionaires' Row, including the famous Essex House sign that reflects into the glass of One57. The interiors are super open and sleek, and the home has just hit the market for $2,490,000
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Distinctive Homes

18 affordable units come online at new Stuyvesant Heights rental, from $1,355/month

Photo courtesy of CityRealty

May 21, 2020

18 affordable units come online at new Stuyvesant Heights rental, from $1,355/month

Located on the border of Stuyvesant Heights and Weeksville, this new rental building at 343 Ralph Avenue has just opened up an affordable housing lottery for 18 units available to those earning 60 percent of the area median income. The building is just two blocks from the C train at Ralph Avenue, and amenities include a backyard, app-operated laundry room, bike room, and storage. The units range from $1,355/month studios to $1,749/month two-bedrooms.
Find out if you qualify

Affordable Housing

15 chances to live in a new Bed-Stuy rental, from $2,204/month

Photo of Bed-Stuy by Andre Carrotflower on Flickr

May 15, 2020

15 chances to live in a new Bed-Stuy rental, from $2,204/month

Fifteen newly constructed apartments in Bed-Stuy are now available through the city's affordable housing lottery, priced slightly below market-rate. Located at 325 Gates Avenue, the six-floor rental sits off bustling Bedford Avenue and just a few blocks from the G train on Lafayette Avenue. New Yorkers earning 130 percent of the area median income can apply for the apartments, which include $2,204/month studios, $2,314/month one-bedrooms, and $2,792/month two-bedrooms.
Do you qualify?

Affordable Housing

Lottery opens for 300-name waitlist for apartments across Brooklyn’s brownstone belt

Photo by Matthew Rutledge on Flickr

May 11, 2020

Lottery opens for 300-name waitlist for apartments across Brooklyn’s brownstone belt

A lottery launched this week for placement on a 300-name waitlist for apartments at half a dozen income-restricted buildings in Crown Heights, Bed-Stuy, and Park Slope. New Yorkers earning 80 and 165 percent of the area median income can apply for the apartments, which range from an $850/month studio to a $2,371/month one-bedroom. Eligible applicants will be randomly selected and placed on the waitlist for future vacancies.
How to apply

Affordable Housing

4,000 spots open on waitlist for middle-income units across Bushwick, Bed-Stuy

Photo by Manny Moss on Flickr

April 7, 2020

4,000 spots open on waitlist for middle-income units across Bushwick, Bed-Stuy

Applications are currently being accepted to replenish a 4,000-name waitlist for income-restricted apartments across central Brooklyn. Located at 806 St. John's Place, 924 Myrtle Avenue, 682 Chauncey Street, 1140 Bushwich Avenue, and 18 Stanhope Street, the buildings are located in Crown Heights, Bed-Stuy, and Bushwick. New Yorkers earning 130 percent of the area median income can apply for the apartments, which include studios starting at $1,700/month and two-bedrooms from $2,000/month.
Find out if you qualify

Affordable Housing

See more of the historic residences inside 111 West 57th Street’s landmarked Steinway Building

Listing images courtesy of 111 West 57th Street

February 18, 2020

See more of the historic residences inside 111 West 57th Street’s landmarked Steinway Building

Two more listings inside Midtown’s historic Steinway Hall have just hit the market: a two-bedroom with a private terrace for $8,750,000 and a four-bedroom duplex seeking $17,995,000. The landmarked building at 111 West 57th Street was designed by renowned firm Warren & Wetmore and finished in 1925. The longtime home of the Steinway & Sons piano company was acquired by developers JDS Development, Property Markets Group, and Spruce Capital Partners in 2013 for $217.5 million and has since become incorporated into SHoP Architects’ super-slender supertall tower rising next to it. The Beaux-Arts structure serves as the project’s grand entryway and will hold the amenity spaces and a small handful of residences designed by Studio Sofield. We previously got a look inside the striking duplex penthouse that hit the market for $21 million last November—a price it still holds.
Get a look around

Billionaires’ Row property taxes would dramatically increase under proposed system overhaul

Image courtesy of Vornado Realty Trust and Robert A.M. Stern Architects

February 11, 2020

Billionaires’ Row property taxes would dramatically increase under proposed system overhaul

Last month, the city's Advisory Commission on Property Tax Reform revealed a report outlining sweeping changes to the property tax code that would essentially raise the same amount of money but substantially redistribute where it comes from. Under the current system, property owners pay taxes based on assessed value rather than market value, so working-class homeowners often pay a higher tax rate than those who can afford the city's multimillion-dollar luxury condos. Mansion Global took a closer look at the numbers and found that property taxes along Billionaires' Row could increase up to five times their current rate under the proposed system.
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Policy

For $799K, this well-outfitted Bed-Stuy condo is set up for easy living

Image credit: Rise Media courtesy of the Corcoran Group.

February 10, 2020

For $799K, this well-outfitted Bed-Stuy condo is set up for easy living

By Michelle Cohen

This one-bedroom-plus-office condominium in Bed-Stuy near the Clinton Hill border at 197 Spencer Street is ready to hit the ground running when it comes to modern convenience. From the keyed elevator landing to the wide-plank oak floors, central heat and air, designer lighting and private outdoor space, this 1,195-square-foot unit, asking $799,000, is a ready-for-anything contemporary home.
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Distinctive Homes

See inside Central Park Tower’s 100th floor residential club

Renderings courtesy of Extell Development Company

January 27, 2020

See inside Central Park Tower’s 100th floor residential club

As Extell Development's Central Park Tower nears the finish line, newly released renderings of the Billionaires' Row supertall are giving us a peek into the private residential club that will occupy the 100th floor with a suite of high-end amenities. Reaching over 1,000 feet in the sky, the amenity space, called the Central Park Club, will be the highest lounge of its kind in the world, offering hard-to-beat views over Billionaires' Row and Central Park.
And the views are exceptional

For $1.9M, this Bed Stuy townhouse mixes historic details with modern upgrades

Listing images by DDreps; courtesy of Compass

December 31, 2019

For $1.9M, this Bed Stuy townhouse mixes historic details with modern upgrades

Having last sold in February for $830,000, this Bed Stuy townhouse at 610 Bainbridge Street has since been transformed by a complete renovation. The modern upgrades live alongside restored classic details from the original 1899 construction, including a wood-burning fireplace in the living room and charming pocket doors. The five-bedroom, 3,200-square-foot property also has income-generating potential with a separate two-bedroom unit on the garden floor. It’s now asking $1,895,000.
Take a look around

Distinctive Homes

Billionaire’s Row tops list of most expensive streets in the world

Looking north towards Billionaires’ Row in early October © 6sqft

December 17, 2019

Billionaire’s Row tops list of most expensive streets in the world

A new study of the top "ultra-prime" locations in the world dispels any doubt that Billionaire's Row is living up to its name. London-based property consultancy Knight Frank, along with Douglas Elliman, looked at the number of homes sold for over $25 million since 2015 and found the greatest concentration along Midtown's 57th Street, where 41 transactions have been closed in the last five years at an average price of $38.5 million. Manhattan cracked the top ten three more times, with Central Park South coming in third, followed by Park Avenue and Fifth Avenue in fourth and seventh place.
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Real Estate Trends

NYC’s third $100M+ real estate deal closes at 220 Central Park South

Image courtesy of Vornado Realty Trust and Robert A.M. Stern Architects

December 13, 2019

NYC’s third $100M+ real estate deal closes at 220 Central Park South

A penthouse at 220 Central Park South has sold for $100 million to an undisclosed buyer, the Wall Street Journal reports. The Billionaire's Row transaction is only the third nine-figure deal to close in New York City, following hedge-fund executive Ken Griffin’s whopping $240 million purchase in the same building earlier this year (the most expensive home ever sold in the U.S.) and tech mogul Michael Dell’s $100.47 million penthouse at nearby One57, which closed in 2014.
More info

Real Estate Trends

Will restored details and a flawless renovation land $3.5M for this Bed-Stuy brownstone?

Images courtesy of Douglas Elliman.

November 18, 2019

Will restored details and a flawless renovation land $3.5M for this Bed-Stuy brownstone?

By Michelle Cohen

Brownstone-obsessed Brooklyn developers Dahill & Bunce have put their obsession to work in this 20-foot-wide Bed-Stuy townhouse, which, after a design-savvy renovation, they've served up for sale at a notable-for-the-neighborhood $3.495 million. The meticulous renovation puts all the right airy, livable modern finishes into place while preserving plenty of details that distinguish the 1882 Neo-Grec townhouse at 158 Halsey Street. The resulting three-bedroom triplex–plus garden apartment–totals about 4,000 square feet. The house has an extension which puts it at a rare 60 feet deep, and there are five private outdoor areas throughout.
More sexy brownstone interiors this way

Distinctive Homes

Penthouse inside 111 West 57th Street’s landmarked Steinway Building hits the market for $21M

Renderings by Hayes Davidson and images by Peter Murdock; courtesy of Douglas Elliman

November 8, 2019

Penthouse inside 111 West 57th Street’s landmarked Steinway Building hits the market for $21M

Once home to the Steinway & Sons piano company, the landmarked building at 111 West 57th Street was acquired by developers JDS Development, Property Markets Group, and Spruce Capital Partners in 2013 for $217.5 million and has since become incorporated into SHoP Architects’ super-slender supertall tower rising next to it. Originally built in 1925, the Beaux-Arts building will house the lobby for the luxury tower and a small number of apartments, including this 5,200+ square-foot duplex penthouse that just listed for $21 million.
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Designs revealed for Phillips auction house’s new home in 432 Park Avenue’s white cube base

Rendering by studioMDA

October 30, 2019

Designs revealed for Phillips auction house’s new home in 432 Park Avenue’s white cube base

British auction house Phillips will move its headquarters into the white cube base of the supertall at 432 Park Avenue next year. As first reported by the New York Post, architecture firm studioMDA has been tapped to design the 55,000-square-foot auction house and will replace the ground floor the existing space with a sunken mezzanine. The new Billionaires' Row spot will open in the summer of 2020.
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Architecture And Design

See inside SHoP’s slender supertall at 111 West 57th Street

The living room of the 43rd-floor unit; Photo by Peter Murdock

October 29, 2019

See inside SHoP’s slender supertall at 111 West 57th Street

The skinny skyscraper perfectly positioned over Central Park has officially topped out at 1,428 feet, becoming the world's second tallest residential building. Designed by SHoP Architects, 111 West 57th Street's super-slender frame allows each of the 46 full-floor and duplex condos to feel like a penthouse. In addition to the Billionaires' Row tower reaching its pinnacle height at 91 stories, new images released Tuesday provide a first look inside the residences, with 360-degree views of Manhattan and bold interiors conceived by Studio Sofield.
See inside the supertall

New Developments

26-story boutique office building planned on top of Calvary Baptist Church on Billionaires’ Row

Photo via Wikimedia

October 7, 2019

26-story boutique office building planned on top of Calvary Baptist Church on Billionaires’ Row

Developers are planning to build a massive office project on top of a Billionaires' Row church. The Real Deal reported on Monday that Alchemy and ABR Investment Partners have partnered to buy properties owned by Calvary Baptist Church at 123-141 West 57th Street. The proposed boutique office building would rise 26 stories atop church space and sit next to Extell Development's supertall, One57.
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New Developments

Sou Fujimoto will design co-living complex at former Slave Theater site, his first New York project

Renderings courtesy of The Collective and Artefactorylab

September 25, 2019

Sou Fujimoto will design co-living complex at former Slave Theater site, his first New York project

Days after filing building permits for 1215 Fulton Street in Bed-Stuy—the site of the former Slave Theatre—London-based co-living startup The Collective has announced it will be partnering with renowned Japanese architect Sou Fujimoto on the design, his first in New York. The 10-story structure will span over 240,000 square feet and be comprised of three buildings connected by an expansive “ground-floor hub” designed to feel like “an extension of the street.” The project aims to create “a new idea of how a community can come together in a building,” as the architects explained in a design statement.
Take a first look at the renderings

September 23, 2019

Site of former Slave Theater in Bed-Stuy will get a 10-story co-living and hotel building

London-based communal living company The Collective filed a building permit application last week for a planned development on the site of the former Slave Theater in Bed-Stuy, which the company bought earlier this year for $32.5 million. As Brownstoner first reported, the application is for a 10-story, roughly 161,000-square-foot structure that will comprise residential units, a hotel, and community space. Ismael Leyva Architects will lead the project, which is expected to include 136 apartments, 222 hotel rooms, underground parking, a restaurant, a public courtyard, spa lounges, and other amenities. The finished building is expected to open in 2022.
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New Developments

Robert A. M. Stern’s 220 Central Park South passes $1B in sales

Via Vornado Realty Trust and Robert A.M. Stern Architects

September 18, 2019

Robert A. M. Stern’s 220 Central Park South passes $1B in sales

Since its first closing nearly a year ago, Robert A.M. Stern's 220 Central Park South has now surpassed the $1 billion mark in sales according to data compiled by CityRealty. The milestone is definitely not surprising considering this is the same building where Billionaire Ken Griffin bought the country's most expensive home ever sold for $239,958,219. And with an average sales price of $6,934 per square foot for its 39 total closings, 220 is also the city's most expensive condo building.
More info ahead

Real Estate Trends

September 17, 2019

The world’s tallest residential building, Central Park Tower, tops out at 1,550 feet