Real Estate Trends

Lovers of the Museum of Natural History, rejoice! The city favorite will be getting a brand new addition in the form of a $325M research center designed by Jeanne Gang of Studio Gang. [NYT] Check out Bklyn House, a new Bushwick-themed hotel said to be inspired by the neighborhood’s “raw feeling of creativity.” [DNA Info] Cushman & Wakefield may purchase Massey […]

Real Estate Trends

December 11, 2014

Weather Anchor Sam Champion Sells Upper West Side Condo for $4.7M

Everyone’s favorite well-coiffed weatherman Sam Champion has sold his Upper West Side condo for $4.7 million, according to city records released today. Champion bought the 2,019-square-foot unit on the top floor of 45 West 67th Street in 1995 for $750,000, netting him an impressive $4 million profit on the sale. The 33-story building was erected in 1985 and […]

December 11, 2014

REVEALED: Interior Renderings for Robert A.M. Stern-Designed 520 Park Avenue

Robert A.M. Stern's 520 Park Avenue has already been called "the next 15 Central Park West," and like its Stern predecessor, 520 is an ultra-luxury development with a stately façade wrapped in stone. Set to be completed in 2016, it will rise 51 stories high, but contain just 31 units, one of which is the $130 million penthouse, the city's most expensive apartment. And though most of the attention has been on "the greatest apartment on the Upper East Side," the fanfare has now shifted to the first batch of interior renderings for the building. 520 Park's full website is now live, and not surprisingly, the residences have classic layouts, impressive Central Park views, and a host of high-end amenities.
Take the tour here

December 10, 2014

Real Estate Wire: Loathed UWS Church Conversion Rejected; A Sutton Place Condo for the Poorly Read

A plan to convert a historic Upper West Side church into condos gets a thumbs down from the Landmarks Preservation Commission. [Curbed] This Sutton Place condo features some wacky wallpaper masquerading as floor-to-ceiling bookshelves. [Curbed] New York is expensive, but it’s still the country’s most “livable” city. [Brick Underground] Is Queens the #1 travel destination in the […]

Real Estate Trends

December 10, 2014

Diane von Furstenberg’s Daughter Sells Gramercy Park Co-op for $4.2M

Tatiana von Furstenberg, singer, filmmaker and daughter of fashion mogul Diane von Furstenberg, has sold her luxury co-op at 1 Gramercy Park for $4,240,000, according to city records. She purchased the home in 2006, and since her address of record is in Los Angeles, perhaps she’s becoming a permanent West Coaster–or moving to her mother’s beloved […]

December 9, 2014

Lena Dunham Buys $4.8M Brooklyn Heights Condo

According to the Daily Mail, Girls creator Lena Dunham has scooped up a $4.8 million condo at 30 Henry Street in Brooklyn Heights, the former offices of the Brooklyn Daily Eagle–now known as The Heights. Despite the recent controversy over her memoir, 28-year-old Dunham is really moving up in the world. Not only did she reportedly get a $3.7 million book advance, but her first home in the neighborhood at 145 Hicks Street cost her only $500,000. She purchased her newest residence under a trust and still owns her one-bedroom pad. Dunham shares her new home with boyfriend and Fun frontman Jack Antonoff, who has been spotted on moving duty while Dunham is on her book tour. The four-bedroom corner apartment is completely elegant and modern, a sure sign that the "girl" is growing up.
More on Lena's big move

December 9, 2014

Real Estate Wire: Brooklyn Getting Its First Apple Store; $500K/Month Apartment Finds a Tenant

There’s a brand new Apple store coming to Williamsburg right along Bedford Avenue where the Bagel Store and Kings Pharmacy used to be. [NYP] The city’s most expensive rental, a $500K doozy at the Pierre, has found a taker. [WSJ] A look at the benefits of living in a NYC home that hasn’t been landmarked. [NYT] A One57 unit sells […]

Real Estate Trends

December 9, 2014

Don’t Forget, One World Trade Was Supposed to Be the Greenest Building in America

Since the opening of One World Trade Center just a few weeks ago, the world has been in an uproar over the design and the incredible cost of making New York's tallest tower a reality. But one feature that we all seemed to have forgotten was the promise that the tower would be the greenest building in America. A recent City Lab article looks at what went wrong, and why, in a race to meet contractual obligations to its anchor tenant, Condé Nast, the development dumped a major part of its plans to go green, currently leaving the building in a state of noncompliance.
Find out more here

December 9, 2014

Rosie O’Donnell Sells Chic Greenwich Village Penthouse for $9M

After initially listing her Greenwich Village penthouse for $11 million in July 2013, Rosie O'Donnell has finally sold the chic four-bedroom home for the substantially lesser amount of $9 million, according to the Daily News. O'Donnell bought the duplex apartment at 130 West 12th Street, part of the former St. Vincent’s Hospital complex, for $8.09 million in the summer of 2012. She then redecorated it with a combination of artsy, modern, and elegant furnishings. In addition to benefitting from Rosie's design sense, the new owner will also get to take advantage of a 435-square-foot private terrace and views of both the Empire State Building and One World Trade Center.
Take a look around the penthouse here

Real Estate Wire: Barclays Racks Up Building Violations; New Renderings of NoMad’s Virgin Hotel

The Barclays Center has racked up a slew of federal and city building violations. [NYP] New renderings of the Virgin Hotel coming to NoMad have been unveiled. [CO] Two Trees drums up $168M in financing for its BAM South tower. [TRD] NYCHA will sell its public housing stake to developers. [WSJ] Supply and Demand: The building […]

Real Estate Trends

REVEALED: New Renderings for Christian de Portzamparc’s Riverside Center

L to R: Building 1, Building 2 (21 West End Avenue), Building 3, Building 4, Building 5 (1 West End Avenue)

December 5, 2014

REVEALED: New Renderings for Christian de Portzamparc’s Riverside Center

By Ondel Hylton

The final appearance of Christian de Portzamparc’s Riverside Center master plan is coming into full view. A bevy of images depicting three never-before-seen crystalline towers have been released by Goldstein Hill & West Architects, giving us a more complete look at what the two-block site will ultimately look like circa 2018. The city-approved plan will ultimately hold three acres of open space and five mixed-use buildings containing approximately 2,500 condo and rental units, a public school, a hotel, a movie theater and an auto showroom.
More details ahead

December 5, 2014

Real Estate Wire: Taxi King’s Apartment Going for $27M; Flashback to ‘Home Alone 2’ Brownstone

New York’s taxi king lists his apartment at 101 Warren Street for $27M. [TRD] Reel Estate: A look at the brownstone-turned-battleground in Home Alone 2. [Brick Underground] Condos in starchitect Tao Ando’s first NYC building will start at $5.9M. [TRD] The massive 1929 Rothschild mansion on the Upper East Side is selling for $40M. [Curbed] […]

Real Estate Trends

December 5, 2014

Former Padres Owner’s Ex-Wife Buys $55M Unit at One57, Second-Highest Condo Sale of the Year

Just yesterday, Bloomberg released a grim report that sales had come to a halt at One57, as only one condo unit was sold in the third quarter. But it looks like the fourth quarter might prove a bit more optimistic for the city's most expensive building. According to city records released today, Rebecca Moores, ex-wife of John Jay Moores, entrepreneur, philanthropist, and former owner of the San Diego Padres, dropped $55.5 million on unit 81 at the building, making it the second-highest condo sale of the year, according to CityRealty. The number one spot also goes to One57 for Bill Ackman's $90 million flip-happy purchase. The former couple also made real estate headlines in 2013 when they listed their Del Mar, California home for $23 million, making it one of the most expensive in the San Diego area and probably the only one with its own moat. Let's take a look, though, at Rebecca's latest property venture at One57.
Check out the floor plan

December 5, 2014

Long Island City Tower Will Be Tallest Residential Skyscraper in NYC Outside of Manhattan

By Ondel Hylton

The tallest residential building in the outer boroughs is underway, and no, it's not going to be in boomtown Brooklyn, but rather along the rapidly evolving corridor of Queens Plaza in Long Island City. 42-12 28th Street will soar 57 stories from an 18,000-square-foot lot and will contain 447 luxury rental units. At its 635-foot projected height, it will be just 20 feet shy of the current outer borough tallest, One Court Square (the "Citi" building). Recently posted images on Goldstein Hill & West's revamped website reveal some new aspects of the project, including its ground-level street frontage and an "extensive" amenity package to include a swimming pool directly linked to an outdoor roof deck.
More details on the record-setting project

December 4, 2014

Walk This Way: How Observant Jews Shop for Real Estate with the Torah in Mind

By Lauren Price

Certain neighborhoods are becoming increasingly sought after by observant Jews—but in keeping with what is written in the Torah, apartment hunting can be a formidable undertaking. Observant Jews not only have to deal with New York City’s low vacancy rate but they need to find a home that, most importantly, is within walking distance to shul (synagogue) from sundown on Friday to sundown on Saturday and some Jewish holidays—owing to the fact that Sabbath obligations, of which there are a lot, do not allow one to drive a car. It goes against what’s written in the Torah to start or extinguish fires during the Sabbath, and, well, cars burn fuel. And by the way, this also means cooking only one, single, solitary item.
Find out more here

December 4, 2014

Julia Louis-Dreyfus’s Billionaire Businessman Father Sells Central Park West Pad for $7M

You likely know plenty about Emmy- and Golden Globe-winning actress Julia Louis-Dreyfus, but did you know her father is a very prominent, very wealthy businessman? William Louis-Dreyfus is the chairman of Louis Dreyfus Energy Services and the great grandson of Léopold Louis-Dreyfus, founder of the Louis Dreyfus Group. He has an estimated net worth of $3.4 billion, and just made an impressive $7.1 million on the sale of his Upper West Side co-op, according to city records released today. Unit 9C at 262 Central Park West is a three-bedroom apartment with ten large picture windows and panoramic views of Central Park. And the sleek interior must have been pretty impressive in person, as the selling price is well over the $6.75 million asking price.
Take a look around the Louis-Dreyfus home

December 4, 2014

Real Estate Wire: Brooklyn Is the Least Affordable in the US; Bed-Stuy Townhouse Sale Breaks Record

Brooklyn has the least affordable housing in the US. [Bloomberg] A Bed-Stuy townhouse sells for a record-breaking $3M. [Brownstoner] 100% Sold Out: All of the homes at The Townhouses of Cobble Hill have been scooped up after less than a year. [6sqft inbox] Related breaks ground on the first residential tower at Hudson Yards. [NYDN] Images: […]

Real Estate Trends

December 4, 2014

NYC Sees a 24 Percent Increase in Construction Loans, Especially in Brownstone Brooklyn

It's that time again when everyone starts looking back on the year as it comes to a close, but it's also the time to look ahead to the new year. We already know 2015 will bring a slew of new developments to the New York City skyline, and right on trend with that forecast, Bloomberg has reported that construction loans are up 24 percent in the city. On-the-rise neighborhoods like Bed-Stuy and Harlem are being aided by the construction loan boom, especially for the renovation of multi-family buildings. The loans, often well over $1 million, are appealing for gentrifying areas because they usually require borrowers to only begin making interest payments once the renovation is complete. For example, a Clinton Hill resident secured a $800,000 construction loan to renovate a century-old multi-family brownstone and estimates that the value of the home will more than double to at least $2.2 million after the renovation.
More information here

December 3, 2014

Hudson Yards Observation Deck Will Offer a Death-Defying Way to Experience City Views

The idea of creating a glass observation deck is nothing new, but the Hudson Yards development wants to push the limits with a seemingly perilous glass-enclosed capsule 1,000 feet up in the sky. According to the NYP, the "thrill device" is modeled after the glass module located 350 feet above Royal Caribbean cruise ship Quantum of the Seas, but amped up with a tilting glass walkway. A detailed design of what will be the tallest observation deck in the city has yet to be revealed, but when Related Hudson Yards President Jay Cross spoke about it at the Young Men's/Women's Real Estate luncheon back in November, he said, “You can choose to pay for it separately and crap your pants.”
Find out more

December 3, 2014

Real Estate Wire: Why One WTC’s Transportation Hub Costs $4B; Walker Tower Combo Up for $44.5M

Why the Santiago Calatrava-designed transportation hub at One World Trade Center has gone so far over budget. [NYT] A Walker Tower combo is looking for a $44.5M sale. [WSJ] 551W21, the Norman Foster-designed luxury condo, gets its windows. [Field Condition] New York will receive $72M to put towards protecting bridges from floods. [Crain’s] A Park Slope […]

Real Estate Trends

December 3, 2014

How the Cost of One World Trade Center Compares to the World’s Most Expensive Skyscrapers

Don’t share this with Michael Kimmelman. The New York Times architecture critic who this past Sunday blasted the design of One World Trade for its excess will only find more fuel for his fire with this infographic visualizing the world’s most expensive buildings. The recently opened One WTC is not only the world’s priciest construction, but it outdoes its runners-up, Las Vegas’s Palazzo […]

Real Estate Trends

December 2, 2014

Real Estate Wire: Real Estate in 2015; Landmarks Turns Away Extell’s Park Avenue Tower Proposal

Real estate issues to keep an eye on in 2015. [TRD] Extell’s proposal for a 16-story building along Park Avenue has failed to pass Landmarks muster. [Curbed] Investors are lending $1.55B to the Plaza’s owner in order to lock in control of the hotel. Part of the money will also go towards bailing Plaza chairman Subrata Roy out […]

Real Estate Trends

December 1, 2014

Real Estate Wire: A Scathing Review of One WTC by the Times; Nearly 100 Sites to Be Removed from Landmarks Consideration

New York Times architecture critic Michael Kimmelman reviews the design of One World Trade Center. Kimmelman does not mince words. [NYT] 95 historic city sites will be removed from Landmarks consideration without any public consideration or input. [GVSHP] Construction on 56 Leonard is well underway and the building already looks as crazy as the rendering. [Field Condition] Sales begin at Tribeca’s […]

Real Estate Trends

December 1, 2014

10 Sullivan Street Leads Western Soho Residential Development