Real Estate Trends

Forest City Ratner Companies and Greenland USA, a subsidiary of Shanghai-based Greenland Group, announced today that their new joint venture, Greenland Forest City Partners, has selected COOKFOX Architects to design two residential buildings at their Pacific Park Brooklyn project. They've also chosen Thomas Balsley Associates to design the site's eight-acre public park, which will be called Pacific Park. Formerly known as Atlantic Yards, Pacific Park Brooklyn will be a 22-acre site anchored by the Barclays Center and containing 8 million square feet of mixed-use development. The public park will be revealed in phases, with permanent and temporary installations. COOKFOX has begun the design for its two residential buildings-- 550 Vanderbilt Avenue, set to feature 275 condominiums, and 535 Carlton Avenue, which will have approximately 300 affordable rentals. Construction is expected to begin on the latter this December, with 550 Vanderbilt not far behind. A third residential building will be designed by SHoP Architects, who were the minds behind the Barclays Center, at 30 Sixth Avenue with another 300 affordable rentals.
Much more on the project here

August 1, 2014

Real Estate Wire: Three Towers to Top the East River Plaza; New Yorkers Vying for Homes on Busy Streets

Meadow Partners has released a rendering of its Long Island City conversion project at 42-15 Crescent Street. The project will see an 11-story condominium with ground floor retail. [CO] The three towers planned to top the East River Plaza mall have been uncovered. The project is being developed by Blumenfeld Development Group and Forest City […]

Real Estate Trends

July 31, 2014

Real Estate Wire: Chelsea Market May Get an Extension; United Charities Building Could Fetch $128M

Chelsea Market may expand with a 330,000-square-foot addition. New renderings see the brick structure topped off with a block of glass and steel. [Curbed] The city’s Economic Development Corporation will begin installing greenery and seating in Downtown Brooklyn’s Fox Square. The project kicks off in August and will take 6 months to complete. [CO] Queens Borough President Melinda Katz […]

Real Estate Trends

July 31, 2014

Sharif El-Gamal Commissions Jean Nouvel to Design Islam Museum Next to WTC

Sharif El-Gamal, CEO of real estate developer Soho Properties, announced today that his company acquired 49-51 Park Place from Consolidated Edison for $10.7 million. He also confirmed that none other than Pritzker Prize-winning starchitect Jean Nouvel will be designing the site's three-story Islam museum and prayer space.
More on the breaking development

July 31, 2014

Seasoned Real Estate Couple Grab Eclectic Central Park West Apartment for $5.3 Million

It must have been a nice change of pace for Stephen Yalof to look for residential properties instead of the retail spaces he scoped out for 12 years as Senior Vice President of Real Estate for the Ralph Lauren Corporation and now as CEO of Premium Outlets. Though for his wife Liora Yalof, a broker with Corcoran, it was likely just another day at work. The couple paid $5.3 million for their new three-bedroom home at the St. Urban on Central Park West. Apartment 11E is an eclectic mix of historic details and global-inspired décor, perfect for such a well-rounded real estate pair.
READ MORE

July 31, 2014

Charming Italianate-Style Townhome in Fort Greene Sells for $3.3 Million

The one-to-two family dwelling at 20 South Oxford Street must have made quite an impression on a few buyers. An apparent bidding war drove the price up from its initial $2.65 million asking to a final sale price of $3.3 million, according to city records. Located on a quiet, tree-lined street in the Fort Greene Historic District, this three-story Italianate-style home has a garden-level apartment with a separate entrance that can serve as an income suite or a fourth level. In addition, the home boasts high ceilings; a large backyard accented by a 123-square-foot deck; and many original details from its 1854 inception, including original marble mantles on each of the home’s six decorative fireplaces.
Take a look inside, here

July 30, 2014

Real Estate Wire: Sales Launch at Chetrit’s Midtown Tower; Views from the Top of 432 Park

An Italian family has scooped up the NYC Church Missions House for $50M-plus. Luxury condos and retail are reportedly planned at landmarked 281 Park Avenue South structure. [TRD] LIVWRK has closed on a Red Hook building for $21.5M. The property recently housed a ship engine repair company. [CO] Vornado puts 1740 Broadway up for sale. The real […]

Real Estate Trends

July 30, 2014

Late “60 Minutes” Anchor Mike Wallace’s Estate Sells for $13 Million

After nearly two years on the market, Mike Wallace’s estate has finally sold, for a significant discount, according to city records. The home was initially placed on the market after the anchor’s death in 2012, asking $20 million dollars, a far cry from its closing $13 million sale price. Occupying the 15th and 16th floors of the distinguished 730 Park Avenue—a white-gloved Jacobean/Tudor style co-op designed by F. Burrall Hoffman, Jr. and Lafayette A. Goldstone--this 4BR/4.5BA duplex, offers plenty of light, gorgeous city views, and original prewar details.
Take a look inside the anchor's former home here

July 29, 2014

Blue Chip Buys: 15 Central Park West Is New York City’s Most Expensive Building, Other Contenders

Even with the thousands of new residential units that have hit the market in the last year, there are still a handful of tried-and-true properties in Manhattan that will always be coveted by the rich, the famous, and those who just wish they were rich or famous. So which properties sit at the top of this list? We turn the CityRealty 100 for the low-down on what buildings have outdone all of the rest. Their latest report tracks the performance of Manhattan's top 100 condo buildings through the second quarter of 2014.
The top performers this way

Real Estate Trends

Pocket Listings: Secret Real Estate Listings Are no Longer Limited to the Rich and Famous

By Lauren Price

Okay, we know homes are more often than not sold through real estate agents, but did you know that more than a few are sold under the radar? That somehow, there are always a handful of residences "secretly" up for sale, and try as he/she may, your broker will never come across them on an MLS—a place where just about everybody on earth can search for a specific building or neighborhood any day of the week. Here’s the lowdown: These homes are known as "pocket listings" and though there is a signed and perfectly legal agreement between the agent and seller, the listing is never entered into an MLS for the world to see. There’s no big open house shindig; no advertising—and obviously no press splash. So, why would a seller risk more unsold days on the market instead of opting for an open listing, you ask?
Find out more here

July 28, 2014

Real Estate Wire: Williamsburg Armory Not for Sale; Zillow Acquires Trulia for $3.5B

The Williamsburg Armory on Marcy Avenue is not for sale. The Satmar Hasidic sect wants to turn the massive building into a school and a community center, but the state is saying no. The reason? Renting out the armory to film crews has proven extremely profitable. [NYDN] Is Brooklyn Brewery moving to Staten Island? Not quite. The […]

Real Estate Trends

July 28, 2014

Gorgeous Versailles-Inspired Townhouse with Sweeping Staircase Sells for $6.7 Million

It probably seems odd for a New York apartment to spark visions of Scarlet O’Hara walking down a staircase. And where is this apartment? It’s not in Brooklyn, or even on the Upper East Side. Ladies and gentlemen you are in Tribeca, where developer and homeowner Gizman Abbas decided to forgo the typical warehouse look in favor of a more palatial, classic look inspired by a trip to Versailles. And if you’re not fascinated by the old world details, let us remind you that just because a home looks like the backdrop for a period piece, doesn’t mean it can’t be rigged with enough modern-day technology to rival Bill Gates. Because our friend Mr. Abbas has traveled to more places than just Versailles, and his cup of inspiration runneth over. It was apparently enough to convince New York attorney Tracey Anne Zaccone. According to city records, Zaccone just purchased the home for $6.7 million, and it looks like she got a steal of a deal.
You’ll see what we’re talking about here

July 25, 2014

Real Estate Wire: The Interiors of Herzog & De Meuron’s Condo-Hotel; A Record-Breaking Sale for Harlem

Take a peek inside Herzog & De Meuron‘s condo hotel planned for the Lower East Side. The interiors have been designed by Beyer Blinder Belle. [Curbed] A Chinatown penthouse with a pretty sweet rooftop watchtower hits the market. [Curbed] The windows at One York in Tribeca keep fogging up and a lawsuit has been issued […]

Real Estate Trends

July 25, 2014

MIT Professor Sells Gorgeous Prewar Apartment in the Dorchester

A professor of Politics at MIT has just sold his Upper West Side co-op for $5 million, $50,000 over asking, according to city records. The 7th floor apartment at the Neville and Bagge-designed Dorchester has been renovated to include pristine modern finishes, while still embracing the home’s original details from over a century ago. Some of those details include hardwood floors, beamed ceilings, and elegant mouldings.
Take a look inside this gorgeous pad here

July 24, 2014

Holly Hunter Sells Her Greenwich Village Apartment for $7.6 Million

Academy Award-winning actress Holly Hunter has just sold her Greenwich Village apartment, according to city records. The thespian put her Fifth Avenue apartment on the market in February, asking $8.7 million. The final sale price was $7.6 million. The adorable home is situated high up in the 11-floor building at 43 Fifth Avenue, a 1905 Beaux Arts “masterpiece”. The apartment features restored original wood moldings and window trim. Additional touches include stained glass and a fireplace. There’s also a large kitchen with an abbey table capable of seating six. Three bedrooms and baths, along with two windowed offices and a parlor complete the beautiful place.
Find out more about the celebrity abode here

July 23, 2014

Real Estate Wire: Pier 57 to Go from Super Fud to Superpier; Developers Want Crown Heights Rezoned

Building, business owners and, of course, developers want to see a rezoning of Crown Heights so that more light industry and residential buildings can be brought to the already rapidly-gentrifying neighborhood. [TRD] Ridgewood Lodge No. 710, a mysterious Masonic temple in Ridgewood, has received Landmark status. [Curbed] A look at the former Verizon buildings that have been […]

Real Estate Trends

July 22, 2014

Landmarks Deems S.L. Green’s One Vanderbilt Tower ‘Appropriate’ for Its Grand Central Site, Others Not Happy

By Carter B. Horsley

The New York City Landmarks Preservation Commission held a hearing today on a proposal by S.L. Green to build a huge tower on the northwest corner of Vanderbilt Avenue and 42nd Street directly across from Grand Central Terminal. The proposal before the commission was an application for a “certificate of appropriateness” for a transfer of air rights from the former Bowery Savings Bank Building at 110 East 42nd Street between Park and Lexington Avenues. The developers of S.L. Green made their moves by wooing Landmarks with renderings of Kohn Pedersen Fox-designed tower which would be 1,350 feet tall not counting a 100-foot-high spire—this is significantly higher than the Chrysler Building on the northeast corner of Lexington Avenue and 42nd Street and higher than all the supertalls in construction or planned for 57th Street.
Reactions from the hearing this way

July 22, 2014

Real Estate Wire: Frightening UWS Apartment Filled with Dolls for Sale; A Flushing Parking Lot on the Market for $1

A municipal parking lot on prime real estate in downtown Flushing is up for grabs for just $1 [NYDN] There’s a 34-room hotel coming to Boerum Hill [TRD] A controversial plan to have the lower-income residents of a New York City luxury condo enter through a “poor door” has been approved [NY Post] Median sale […]

Real Estate Trends

July 21, 2014

Back to Blueprints: House Hunters Are Buying Sight Unseen, Much Like the Pre-Crash Days

By Lauren Price

In the mid-2000s, when the real estate market was red hot with new developments, home seekers gave nary a thought to making what can be described as the biggest decision of their lives: Buying something sight unseen. For them, traipsing through model apartments, checking out pretty renderings, gawking at miniature models, stroking teensy squares of countertop finishes, thumbing through shiny marketing materials filled with information on everything but the kitchen sink to make an actual purchase was par for the course. (Oh, wait! They did include the kitchen sink.) But then all that changed by late 2007 when the stock market took a nosedive. Not a single potential buyer would even consider a new place to hang their hats without actually standing inside a frameless glass shower stall, checking out the size of a Sub-Zero refrigerator or getting high from real-time views seen through floor-to-ceiling window—and developers took note. But that was then and this is now, and with an improving economy and increasing demand, the tides seem to have turned once again.
Is buying off blueprint back in full force?

July 21, 2014

Real Estate Wire: Juul-Hansen’s Condos Hugging the High Line; Own a Villa on Staten Island

Juul-Hansen’s condos are on the rise and now flanking both sides of the High Line Park. [Curbed] Manhattan’s office buildings are being valued at pre-crash levels. [WSJ] Who owns New York? Chinese developers apparently. Here are four high-profile Chinese developers pouring their cash into Manhattan. [TRD] Own your own “Italian/French” villa… on Staten Island. [Curbed] New kid on the […]

Real Estate Trends

July 18, 2014

Hotel Carlyle Co-op With Stunning Views Sells for $4.5 Million

After what appears to be a long, intensive history on and off the market with a few price drops, unit 3006 at the Hotel Carlyle Aerie has finally sold, according to city records. Always a bridesmaid, never a bride might be a fitting way to look at this co-op, as it appears to have been on the market for a year and a half, eventually dropping their asking price from $7.75 million to $4.9 million, and ultimately settling in at a $4.5 million sales price. But one look at the living/dining room (and an aptly placed telescope by the window) makes it clear that the star of this apartment is the amazing views. As Mastercard would say, those views are priceless.
Take a look inside here

July 18, 2014

PENCIL’s Lisa Belzberg Nabs Incredible Upper West Side Penthouse at an $8.5 Million Discount

It looks like Lisa Belzberg, Operating Partner at Leeds Equity Partners, founder of the nonprofit PENCIL, and well-connected New York City socialite, has applied her business savvy to the real estate market, snagging penthouse 13 at 44 West 77th Street for $11.5 million, well below the original $20 million asking price. Dubbed the apartment with "the best living room ever," this 3BR/2.5BA, 4,187-square-foot unit has been featured on Bloomberg TV and Open House NYC for its opulent living space, which includes 24-foot, floor-to-ceiling windows, Corinthian columns, a hand painted Venetian plaster ceiling, and an eight-foot-tall 17th century stone fireplace that was imported from the Iberian Peninsula.
And that's not all. Check out the rest of this extraordinary home.

July 17, 2014

Corcoran Broker Susan Lamia Sells Off Her Charming West Village Townhouse for $10.75 Million

As the saying goes: If you want something done right, do it yourself. And that's exactly what Corcoran broker Susan Lamia did with her stunning Greek Revival townhouse at 54 Charles Street in the West Village. After just 21 days on the market, the property traded hands for $10.75 million, according to city records filed today. Susan and her husband originally purchased the home for $4.92 million nine years ago, turning a pretty nice profit on the recent sale. Though the buyer has yet to be disclosed, whoever they are, they've sure lucked out with their purchase. The spacious home not only sits along one of Manhattan's most picturesque streets, but also boasts many of the building's original, historic details.
See more of this lovely home here

July 17, 2014

Oasis Singer Liam Gallagher Puts His Essex House Condo on the Market