Real Estate Trends

Someone just purchased a nice little income property in Brooklyn Heights, according to city records. This 4-family town home, located at 36 Schermerhorn Street, is an original 1840s brownstone in one of Brooklyn’s premier locations. It offers 3,000 square feet of living space and a garden for the lower duplex. Yes, a tree grows in Brooklyn. However, the best part of this unit, listed by Corcoran’s Vicki Negron, is that it already has tenants. Granted their lease expires in August, but minor details.
Take a Look inside this incredible BK heights building here

June 17, 2014

Helen Hunt Finally Sells Upper West Side Pied-a-Terre for $2.58 Million

It looks like Helen Hunt has finally sold her Upper West Side apartment to the tune of $2.58 million. This new development comes after having the apartment on the market for nearly 9 months. That’s essentially like having a baby. Hunt purchased the apartment at 320 West 86th Street for $2.43 million in 2006, according to the Daily News, and was using the 3/BR as a pied-a-terre. Her main residence is in California. After acquiring the co-op, Hunt completely renovated the pad, creating a six-room layout with restored herringbone floors, hideaway office spaces and decorative fireplaces.
Take a look inside the star's pad here

June 17, 2014

Time Warner V.P. Unloads Upper West Side Condo for $4.3 Million

A strikingly elegant co-op apartment at 375 West End Avenue has for $4.3 million, according to city records. The seller, Paul T. Cappuccio, Vice President and General Counsel at Time Warner, Inc., bought the 5BR/3.5BA unit in July 2011 for $3.5 million, netting him an almost $1 million profit. The handsome, 2,400-square-foot space is a mix of traditional design and convenient, modern touches. Stunning, detailed moldings and shiny herringbone hardwood floors work alongside barely-there recessed lighting and a contemporary, marble bathroom. Ten-foot ceilings and large windows framed by panel molding are decorative elements that harken back to the building's prewar construction, while custom walk-in closets and a laundry room with full-size washer/dryer are 21st-century touches.
Take a look at the rest of this swoon-worthy pad

Growth Spurt: Brooklyn’s Tallest Tower at 333 Schermerhorn Will Soar Even Higher Than Expected

L to R: Williamsburg Savings Bank (One Hanson), The Brooklyner, 388 Bridge Street, Avalon Willoughby West, The Hub

June 17, 2014

Growth Spurt: Brooklyn’s Tallest Tower at 333 Schermerhorn Will Soar Even Higher Than Expected

By Ondel Hylton

Construction filings from the Department of Buildings have revealed that Douglas Steiner's mixed use tower at 333 Schermerhorn Street, dubbed the Hub, will soar 30 feet higher than previously reported; making it the top contender for Brooklyn's tallest building at 607-feet. For more than 80 years, the title of Brooklyn's tallest belonged to the 512-foot Williamsburg Savings Bank tower at 1 Hanson Place. With its beloved 4-sided clock tower and its majestic banking hall, the tower has stood in relative isolation since its construction in 1929. Bruce Ratner's Atlantic Yards centerpiece building nicknamed "Miss Brooklyn," was the first to challenge the tower's dominance and was slated to soar more than 100-feet above the bank building's dome. The proposal incited uproar from Brooklynites, leading to its eventual downsizing in 2006 to 511-feet, just one foot shorter than the neighboring bank building.
More about The Hub and Brooklyn's tallest this way

June 16, 2014

Long Island City Makes Way for Three New $875M Residential Towers with 1,600 Units

Long Island City gets glassier by the day, and now Tishman Speyer is teaming up with Toronto’s H&R REIT to build a three-tower, 1.2 million-square-foot “landmark luxury residential rental development” with 1,600 residential units and 30,000 square feet of retail space. The dynamic duo paid a total of $55.6 million for the piece of land acquired from […]

Real Estate Trends

June 16, 2014

Windsor Terrace Home Gets Scooped Up by Unexpected Buyer for $2.2 Million

If you’re an older couple looking for a quiet place to tend your garden on Saturdays, you’ll love this quaint, recently purchased Windsor Terrace townhouse with a retro charm. This 2,090-square-foot town home is like your grandma’s house… made with love. The retro charmer has subway-tiled walls and original claw foot tubs to add to its vintage appeal. And it all starts when you walk through those nine-foot entry doors. A decorative archway greets you, ushering you into the sun-filled parlor with its 11-foot tin ceilings and original heart of pine floors. There’s also a working fireplace so you can read Chaucer while your cat Norman rubs up against your leg.
Take a closer look at this retro home here

June 16, 2014

Beautiful Clinton Hill Brownstone with an M.C. Escher-like Staircase Sells for $2M

Can you make sense of this staircase? We're not sure what's going on here, but the rest of this Clinton Hill townhouse is a sight to be seen. Closed today by the Corcoran Group for $2 million and some change, the 4-story, 2-family brownstone was recently gutted and renovated to boast a modern design with cutting edge appliances and sleek finishes. If you love wood detailing, high ceilings, or just want to snoop around a historic home that has a pretty incredible backyard, hit the jump.
Take a tour of 441 Classon Avenue

June 16, 2014

Frick Museum Expansion Renderings Unveiled

The Frick Collection just announced their plans for expansion last week and today they’ve unveiled renderings. The construction, designed by Davis Brody Bond architectural firm – the same firm responsible for the interiors in the 9/11 Museum - plans to expand the space by 60,000 square feet, connecting their Upper East Side mansion with the museum’s art reference library.
More on the massive expansion this way

Real Estate Trends

June 13, 2014

The Unveiling of 101 Tribeca Is Better Than Expected

If you didn’t like the renderings revealed earlier this year for the much-anticipated tower at 101 Murray Street, you’ll be pleasantly surprised to know that they were incorrect. New renderings – the right renderings- have been released to New York YIMBY… and she’s a beauty. 101 Tribeca, as she’ll be called, is being developed by Fisher Brothers and The Witkoff Group, and designed by Kohn Pederson Fox. The building is set to soar over Tribeca at roughly 950 feet tall with a sleek, slender design that elegantly bevels out at the top. The 63-story structure will house 129 condominiums, totaling 433,800 square feet. Its tall ceilings, coupled with its sheer height, promises to deliver unobstructed views that will stretch as far as New Jersey and Long Island.
Find out more about this record-breaking structure here

Downtown Flips: Four of the Biggest Moneymakers of All Time

At any given hour when you turn on a home design television channel you have about a 50% chance of landing on a realty show about flipping houses. In real life, though, it's not all hunky property brothers and fairy tale endings; trying to flip a house is a gamble, which is why oftentimes the most successful flippers are those on the inside, like real estate developers and seasoned brokers. For anyone looking to make a flip, New York is ripe with opportunity thanks to low inventory and a constant race to be bigger and better. Within the city, Downtown Manhattan is the ripest fruit on the vine. Full of highly desirable, trendy neighborhoods, it's a hot bed for investors. There's no textbook definition of a flip, but it's generally thought of as a three-year turnover. Downtown there have been 58 apartment swaps within the past three years. We take a look at some of the greatest hits.
This way for all the triumphant flips

Real Estate Trends

June 12, 2014

Walmart Heiress Alice Walton Buys a $25 Million Park Avenue Pad

Walmart heiress, philanthropist, and the 14th richest person in the world, Alice Walton, will be moving into a $25 million duplex condo at 515 Park Avenue. The Post reports that the Walton claimed the 30th and 31st floors of the Lenox Hill co-op building — a unit with 6,346 square feet of space hosting five bedrooms, six bathrooms, a grand staircase, and 52 windows that offer up panoramic views of the city. 515 Park also has its own exclusive kitchen and caterer, Chef Daniel Boulud, and 15 private, climate-controlled wine cellars.
Take a look inside here

June 12, 2014

Up Up and Away: Manhattan Rents Highest in Five Years

By Stephanie Hoina

If you’re looking for a Manhattan rental you may want to act quickly as rents are trending upwards in the recently sluggish rental market. According to Douglas Elliman’s May 2014 Rental Report the median rent of an apartment in Manhattan will set you back $3,300, an increase of 3.1% over the same period last year […]

Real Estate Trends

June 12, 2014

Tribeca Loft That Wouldn’t Sell Will Be Just as Happy as a $45K/Month Rental

When the going gets tough...put your massive Tribeca condo on the rental market for $45,000/month. Well, at least that's what the owners of Apartment 1 at 16 Jay Street recently did after trying to sell the pad since April 2011. Available immediately, the space can come furnished or unfurnished. Known in the design community for its sweeping cast-iron and mahogany staircase that was welded together inside the home in the shape of a double ellipsis, this floor-through apartment occupies the entire 4,200 square feet of 16 Jay Street's first floor. It has 3BR/3BA and a 900-square-foot patio that contains a 25-foot-high sculpture and heated limestone flooring.
The interior excitement continues here

June 11, 2014

Silvershore Investors Attempt a Flip for the Record Books on a Sutton Place Townhouse

Last month, Jason Silverstein and David Shorenstein of Silvershore Properties along with investor Norman P. Rappaport purchased a $7.8 million Sutton Place townhouse. And just like that, they’re flipping it with an asking price of… wait for it… $19.95 million. We’re not sure what rabbit Brown Harris Stevens listing agent Paula Del Nunzio plans to pull out of the hat but achieving a flip that big would be nothing short of spectacular. However, according to her webpage, she already has a few record-breaking sales under her belt.
More photos of the townhouse here

June 10, 2014

Light-Filled Greek Revival Townhouse in Brooklyn Heights Finds a Buyer for $6.8M

Brooklyn Heights is one of the city's most coveted neighborhoods, and it's no wonder why. With its beautiful tree-lined streets, historic architecture, and that certain light which seems to bring a calm and peace to the streets, it's managed to draw everyone from best-selling authors to bankers to even Hollywood starlets. The latest and most notable sale for BK nabe is 19 Monroe, which just sold for $6.8 million through a listing held by Yolanda Johnson at Corcoran. The property hit the market back in March for $7.3 million, and while the interiors were admired by many, the ask made more than a few jaw drops. But let's not forget that this is NYC, and it never hurts to be overly ambitious...
Take a peek inside this unique townhouse

June 10, 2014

Quirky Soho Loft With Honey-Comb Skylight Sells for $2.15 Million After 6 Months on the Market

After more than half a year on the market, the Broome Street co-op with an interesting honey-comb skylight has finally sold for $2.155 million. There’s no doubt 428 Broome Street #1R is an interesting unit, even for a building constructed in 1879. The Soho loft has all the tell-tale signs of an older reconstruction with exposed brick walls, 16’ ceilings and an open floor plan - one that features 1,765 square feet of open floor space. However, the cast iron Corinthian columns and the honey-comb skylight give the loft an almost medieval vibe. The result is an interesting contrast to Soho’s typical industrial architecture.
More inside this interesting loft this way

June 10, 2014

“Limited Edition” Penthouse in the Ultra Posh Puck Building Closes for $28 Million

And it's official: After going into contract December of last year, Penthouse IV in the illustrious Puck Penthouses at 295 Lafayette has closed for $28 million, according to city records filed yesterday afternoon. The penthouse is the second largest in the penthouse-only building (there are six overall), with more than 5,900 square feet of space, 3BR/5.5BA, and a whopping 2,000 square feet of terraces overlooking a garden. Four of the Puck's five other penthouses have yet to be listed, but they are anticipated to sell for between $21 million and $60 million. The Puck is one of burgeoning real estate tycoon Jared Kushner's many luxury residential undertakings, and this particular project transforms the interior of a landmarked building into what the Puck official site has dubbed as "limited edition" properties.
Images of the puck penthouses this way

June 9, 2014

Moby Sells Off His ‘Tiny’ But Charming Mott Street Penthouse for a Cool $2 Million

By Annie Doge

Electronic music maker Moby has just sold off his "tiny" penthouse at 262 Mott Street in Nolita. Moby bought the home for a mere $215,750 back in 1996 and managed to make quite a bit of money with the recent sale, turning a profit of about $1.5 million after taxes (we guess the artist is now eating crow). The 950-square-foot, 1BR/1BA home is covered with large vaulted skylights and also boasts exposed brick walls, a sleeper mezzanine loft and a private 875-square-foot garden terrace. The listing was held by Corcoran's Julie Pham.
Check out the interiors here

June 9, 2014

Antonio Lobon’s Zen Loft Finally Sells for $6.3 Million

After nearly four years on the market, international businessman Antonio Lobon took his $7 million Tribeca loft off the market. Earlier this year, the Hudson Street condo made its triumphant return to the market with new representation in Douglas Elliman agents Nicole Krinick and Frances Katzen, new photos, and a lower asking price of $6.5 million. It worked. 195 Hudson Street #6B officially closed for just $200 thousand below asking, and the new owners are none other than the previous owners of this gorgeous, recently sold apartment at the historic Worth Building.
Find your center with more photos of this Zen loft here

June 9, 2014

Brooklyn Navy Yard Gears Up for Expansion, 1.8 Million Square Feet to be Added

Over the years, the Brooklyn Navy Yard has become a modern manufacturing pole, and it has grown to host spaces for everyone from furniture makers to photographers to even financial services companies. Demand for space has grown tremendously, and in response, the Navy Yard has announced plans to create another 1.8 million square feet of space for both future and current tenants looking to grow their businesses.
More of what's in store this way

June 9, 2014

Country-Chic Apartment in Village Townhouse Finds a Buyer for $1.8M

No, we didn't get these pictures from the pages of Country Living magazine, but this stylish home most certainly could grace its cover. The 3BR/2BA apartment in a Greenwich Village Greek Revival townhouse recently sold for $1.795 million through a listing held by Corcoran. Apartment 3FR at 288 West 12th Street is a 950-square-foot, floor-through unit that has been thoughtfully restored to emphasize the home's pre-war character. Original details include three wood-burning fireplaces, wide-plank yellow pine floors, and leaded-glass windows.
Right this way for more design details

June 6, 2014

Egypt’s Richest Man Scoops Up the City’s Most Expensive Co-op for $70 Million

David Geffen has been dethroned as the person to have spent the most on a co-op in NYC, ever. Egyptian billionaire, a.k.a. the richest man in Egypt, Nassef Sawiris closed on the pad at 960 Fifth Avenue this afternoon through a listing held by Brown Harris Stevens. The penthouse apartment was originally going for $65 million earlier this spring, but power brokers Mary Rutherfurd and Leslie Coleman of Brown Harris Stevens managed to squeeze an extra $5 million out of Sawiris in a bidding war. Funnily enough, 960 has been cited as one of the city's 'A-plus' buildings, and in 1997 a New York Times article wrote that most residents in the building "are worth over $100 million" and that apartments cost about $15 million — my how times have changed!
Take a look inside the opulent apartment here

June 6, 2014

Former Bush Appointee Buys in Cobble Hill for $1.7 Million

Don't tell the crunchy neighbors in baby-laden Cobble Hill, but there's a Republican moving into the neighborhood. According to public records filed yesterday evening, Reuben Jeffery III, the former Under Secretary of State for Economic, Business and Agricultural Affairs, appointed by George W. Bush, and his wife Robin have purchased a unit in a pre-war co-op at 174 Pacific Street. Records also listed their daughter, Jocelyn — for whom we can only assume the purchase is made (Mamma and Papa Reuben bought a full-floor pad just last year at 620 Park Avenue for $9.16 million). The 2BR/2BA apartment, which is conveniently located near Trader Joe's, was purchased for $1.7 million through a listing held by Brown Harris Stevens.
A look Inside the Pacific Street Home this way

June 6, 2014

Historic Townhouse with Rear Carriage House Finds a Buyer for $6.25M