Real Estate Trends

Downtown Brooklyn's most talked about new development—and tallest tower—has just announced the launch of its 'Penthouse Collection'. Located at 388 Bridge, 40 penthouses ranging from 1,144 square feet to 2,371 square feet on floors 45 through 53, have been priced at $1.742 million and up. The units offer up 360-degree views looking out to Manhattan, Brooklyn and Queens, and several residences have been set up as duplexes with outdoor terraces.
Find out more here including pricing

September 12, 2014

Real Estate Wire: A Portfolio of Parking Lots Worth $250M; Upgrades Planned for Grand Central Get Flack

The Brooklyn shtetls that have embraced Crown Heights’ new hipster neighbors. [Tablet] An Afro-Caribbean has raised $7.5M to turn a long-vacant East Harlem firehouse into a new cultural center. [NYDN] New York state’s Empire State Development Corporation is trying to seize seven properties for Atlantic Yards Project through eminent domain. A judge was asked to […]

Real Estate Trends

<b>South Williamsburg’s New Cool: Everything Below Grand Catches Up with the North</b>

A view towards the Williamsburg Bridge. Image © Ray’s Tours

September 12, 2014

South Williamsburg’s New Cool: Everything Below Grand Catches Up with the North

By Lauren Price

There has always been a somewhat “invisible” line dividing ritzier North Williamsburg and the once-grittier-but-now-gentrifying South Williamsburg neighborhood—and that southern portion’s border is generally considered to be from Grand Street to Division Avenue between Union Avenue and the East River. And though this south side of the neighborhood continues to be populated by a diverse group of residents, new amenity-filled developments are quickly attracting a younger population and pushing prices to match those in the northern part of the nabe. Here, we take a look at some of the most notable developments and a few cool listings bridging the gap ahead.
Find out more here

Real Estate Trends

September 12, 2014

Patrick Stewart Finds a Buyer for His Upper West Side Penthouse

Sir Patrick Stewart of X-Men and Star Trek fame has found a buyer for his Upper West Side pied-à-terre. The two-bedroom, 1,300-square-foot co-op at 118 West 79th Street entered contract after seeing several bids. The actor put the unit on the market in June for $3.8 million. He bought the home in 2003 for $1.8 million with his then-wife Wendy Neuss, but the couple divorced shortly thereafter, and Neuss remained in the penthouse apartment.
Take a look inside

September 11, 2014

Real Estate Wire: Renewed Hope for the TWA Terminal; Tribeca’s New Bogardus Park

Brazil’s top hotelier is looking to make his mark on 57th Street. Billionaire Rogerio Fasano is in talks to have starchitect Rafael Vinoly design the building. [NYDN] It ain’t easy being green: Vogue contributing editor Lauren Santo Domingo, and her Colombian billionaire beer heir husband, have neighbors up in arms over the noise they’re making trying to […]

Real Estate Trends

September 10, 2014

Real Estate Wire: $13M for Bed-Stuy’s Tallest Apartment Building; Aby Rosen is Creating His Own Mansion

A ‘seven-star hotel’ will rise on the former site of the Rizzoli Bookstore near Central Park. [WSJ] Aby Rosen wants to turn an 11-unit co-op at 1025 Park Avenue into his personal 19,000-square-foot mansion. [NYDN] Owners of a 13-story, 23-apartment rental at 11 Spencer Court in Bed-Stuy are looking to make $13 million sale—50% more than […]

Real Estate Trends

September 10, 2014

Anatomy of a Killer Flip: The Townhouse Everybody Wanted Heads Back to the Market

By Michelle Cohen

In January of 2013, in the dead of winter, an 1899 detail-laden Italianate townhouse fixer-upper at 102 Gates Avenue hit an inventory-starved rising market. The listing price of $1.295 million, was a double-take for many, even though it was less than what properties like it were selling for in the area. Fast forward to September 2014, where renovations, which commenced almost immediately after the sale, are nearing completion (and according to reports, they’ve been done right). Word is that the house is about to head back to the market—at more than twice its winter selling price.
Find out why 375 people waited in the cold for the first open house

Real Estate Wire: $1M Parking Spots; 700 Non-Toxic Condos Coming to Gowanus

The Arthur G. Cohen Estate has put in a $205M bid for the Chelsea Dream Hotel. [CO] New York isn’t expensive as you think it is. If you’re rich by U.S. standards, you’re probably also rich by New York standards according to these two graphs at Slate and Vox. [Slate/Vox] The Annabelle Selldorf-designed 42 Crosby […]

Real Estate Trends

September 9, 2014

REVEALED: $210 Million Upgrade for Grand Central’s Subway Station As Part of One Vanderbilt Tower

As part of a five-year, $210 million plan to significantly upgrade Grand Central's subway station, developer SL Green hopes to install new staircases to the train platforms, two new street-level entrances and a refurbished mezzanine level, and a 4,000-square-foot ground-level commuter waiting area. The improvements were conceived in conjunction with the MTA and the de Blasio administration earlier this year as the first component of the Midtown East Rezoning project. The transit upgrades must all be completed before tenants can occupy One Vanderbilt (planned for completion in January 2020), SL Green's new 65-story office tower planned for the entire block west of Grand Central and north of East 42nd Street. Designed by Kohn Pederson Fox, the tower will be the second-tallest building in the city when completed.
More on the upgrades ahead

September 8, 2014

Real Estate Wire: David Sanborn Sells Finally Sells His Townhouse; Philip House Penthouses for Sale

Inside the Park Slope condos giving away a Tesla with every purchase. [Curbed] Forest City Ratner slaps Skanska USA with a second lawsuit over the B2 modular tower. [TRD] The Philip House, located at 141 East 88th Street, has added ten new residences for sale, including four penthouses. [Philip House Residences] After several years of […]

Real Estate Trends

September 8, 2014

REVEALED: New Skyline Renderings for Nordstrom Tower at 217 West 57th Street

Back in July, we learned that Extell's Nordstrom Tower will rise 1,775 feet–just one foot shorter than One World Trade Center, making it the tallest residential building in the world. Now, New York YIMBY has released renderings of how the 92-story supertall will look against the rest of the skyline. Though official images from Extell haven't been released, these preliminary sneak peeks are pretty impressive.
More on the new development here

September 5, 2014

Real Estate Wire: $190M for America’s Dirtiest Hotel; How High Tech Investors Live

An image of what could go up at the long-stalled Kedem winery site in south Williamsburg. [Brownstoner] They’re just like us? The super-rich buy super-expensive apartments and fill them with super-expensive furniture but never actually occupy them. [NYDN] The priciest properties belonging to tech investors, entrepreneurs and CEOs. [TRD/Business Insider] Joseph Chetrit has agreed to pay $190 […]

Real Estate Trends

September 5, 2014

Jimmy Fallon Buys a Fifth Apartment in His Gramercy Park Building

The Fallon family's collection of 34 Gramercy Park East apartments continues to grow. According to the Wall Street Journal, Tonight Show host Jimmy Fallon just purchased a cozy, top-floor studio in the famed residence for $725,000. The small space neighbors his four-bedroom apartment, which he also recently bought for $1.35 million back in April. No word on whether the units will be combined, but either way, the petite pad is pretty nice as is.
Take a look inside here

September 4, 2014

Katz’s Deli Co-Owner Jake Dell Nabs $1.9 Million Greenwich Village Pad

The Lower East Side's iconic Katz's Deli was the talk of the town recently when it came to light that the neighborhood institution had sold its air rights. It's speculated that a parcel of adjacent buildings will be demolished to make way for a new cantilevered building. Jake Dell, the third-generation co-owner of the 126-year-old pastrami mainstay, has been quoted as saying that the sale will not affect the deli in any way, though he didn't cite specifics of the deal. But regardless of the details, it looks like Dell made out pretty well for himself, as he's just scooped up a $1,899,000 apartment at 808 Broadway in the heart of Greenwich Village. Just a short walk from Katz's, his new pad is described as a "Park Avenue-inspired home."
Take a look inside the pastrami king's new digs

September 4, 2014

Real Estate Wire: Inside The Shops at Hudson Yards; Park Avenue Pad Sells for Record-Breaking $71.3M

A 740 Park Avenue pad just traded hands for $71.3M, making it the most expensive NYC co-op ever sold. The apartment was originally listed for $48M. [Curbed] Forest City Ratner wants to take over producing the modular units for the stalled B2 tower at Pacific Park next to the Barclays Center. The developer is currently embroiled in a […]

Real Estate Trends

September 4, 2014

Archdiocese of New York Sells off St. Patrick’s School in Little Italy for $32M, Makes Way for Condos

On Christmas Eve 2013, the cash-strapped Archdiocese of New York put St. Patrick’s Old Cathedral School on the market for $29 million. Now it looks like Time Equities has purchased the Little Italy property, throwing down $32 million, according to city records filed today (233 Mott and 32 Prince). Plans to turn the school into condos have been in the works since October 2013, when it was reported that the building was in the process of being sold off to Hamlin Ventures, with re-vamps provided by Marvel Architects. Though records show Time as the buyer, the two developers are joining forces to turn the sprawling 14,925-square-foot former orphanage/convent/school into two single-family homes and eight luxury condos.
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September 4, 2014

Penthouse Perfection: Peeking into Manhattan’s Top Sky-High Listings

The penthouse craze began in the early 20th century thanks to media tycoon William Randolph Hearst. He took up residence in a three-floor apartment at the Clarendon at 137 Riverside Drive and, when his landlord refused to let him expand further, Hearst bought the entire building, adding two new floors to the top of his mansion, crowned by a new copper mansard roof. Now, 100 years later, the rich and famous are still making headlines with their pricey penthouse purchases. Fellow media mogul Rupert Murdoch recently purchased a $57.25 million triplex penthouse, along with an additional full-floor unit (because why stop at just three?) at One Madison. His bachelor pad totals more than 10,000 square feet of interior space, wrapped in floor-to-ceiling glass. Is this the new standard for penthouse living? We're taking a look at some of the top sky-high listings in Manhattan to find out.
Don't miss these incredible penthouse stunners

September 3, 2014

Real Estate Wire: The Helmsley Building Could Hit the Market for $1.5B; Carnegie Park Going Co-Op

The Commercial Observer interviews Gary Barnett of Extell. The developer discusses everything from his aggressive development stance to the “poor door” controversy that’s gotten everyone all riled up. [CO] An epic tale of murder at 31 Bond Street—the site of new condos coming to the NoHo market. [NYT] The “Gossip Girl Penthouse” at 1136 Fifth Avenue sold […]

September 3, 2014

Fashion Wunderkind Kira Plastinina Buys $2.5 Million Chelsea Apartment

You may remember Kira Plastinina making headlines back in 2008, when she, all at the age of 16, launched her namesake fashion line, opened a dozen US stores, and later that same year closed them all and filed for bankruptcy. Originally from Moscow, Kira has now launched a new high-end fashion line called Lublu in Dallas, Texas, but it looks like she might also be planning to make some moves in the Big Apple. According to city records, she purchased apartment 3A at the Slate Condominium at 163 West 18th Street for $2.45 million.
Take a look inside here

September 2, 2014

Real Estate Wire: SHoP’s B2 Modular Tower Runs Into More Problems; It’s Cheaper to Buy Than Rent

It’s cheaper to buy than rent in a number of US cities. [Business Insider] Forest City is suing Skanska over the Pacific Park (formerly the Atlantic Yards) B2 modular tower. Skanska issued a Stop Work Order last week over cost overruns, and Forest City is now countering with a lawsuit saying Skanska agreed to a […]

Real Estate Trends

September 2, 2014

REVEALED: 125 Greenwich Street Will Rival One WTC and Become Downtown’s Tallest Residential Tower

The latest in the world of New York City supertalls comes to us from New York YIMBY, who has revealed renderings for the Rafael Viñoly-designed 125 Greenwich Street. At 1,356 feet, it will become Downtown's tallest residential tower, the first to rival the 57th Street skyscrapers like Extell's planned Nordstrom Tower, which will rise 1,479 feet. It will also be just 12 feet shy of One World Trade Center's roof, making it the second tallest skyscraper in the Financial District.
More details and renderings here

August 29, 2014

Real Estate Wire: Katz’s Is Selling Its Air Rights; 9/11 Memorial Will Open to the Public for a Night