Real Estate Trends

Amazon officially announced on Tuesday its plan to bring its second headquarters to Long Island City, following a 14-month long contest among hundreds of cities across the country. The company will also open a second new headquarters in Arlington, Virginia, with each location expected to house 25,000 new employees; Nashville will become home to Amazon's "Operations Center of Excellence," equipped for 5,000 full-time jobs. In Queens, Amazon intends to construct the mixed-use complex across both public and private sites that sit along the East River, in an area known as Anable Basin. Although the HQ2 project still must undergo a public and environmental review, as well as a possible rezoning, the tech company said it will receive over $1.7 billion in incentives from New York State for its project, which is expected to cost over $3.6 billion, and has the potential for another $1.3 billion "as-of-right" benefits from New York City.
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Rental Offers: This week’s roundup of NYC rental news

Images (L to R): The Max, Quinn, and 2222 Jackson Avenue

November 10, 2018

Rental Offers: This week’s roundup of NYC rental news

Images (L to R): The Max, Quinn, and 2222 Jackson Avenue Hello Albemarle in Flatbush: Loft-inspired rentals with direct elevator access from $2,475/month [LINK] 2222 Jackson Avenue in LIC: Stylish rentals with balconies from $2,262/month [LINK] Quinn at Paulus Hook in Jersey City: Grand layouts and big city views from $2,750/month [LINK] The Max at […]

Real Estate Trends

Why winter is the best time to move in NYC

Photo © Daxiao Productions – Fotolio

November 9, 2018

Why winter is the best time to move in NYC

By Cait Etherington

6sqft’s ongoing series Apartment Living 101 is aimed at helping New Yorkers navigate the challenges of creating a happy home in the big city. This week, we’ve put together the top five reasons it makes sense to move in the winter. Until the end of WWII, moving day in New York City was May 1. Today, many people continue to move on this date and in the four months following, but if you’re a renter looking for great value, more options, and lower stress, the very best move dates fall in the winter months. In this article, we outline why a winter move makes sense and how to prepare for one.
The top five reasons you should move in the winter

November 8, 2018

Meet Candice and Malessa, real estate’s ‘new generation’ of brokers working to empower women

By Dana Schulz

"Integrity, vigorous work ethic, and a strategic business approach," form the platform that Candice Milano and Malessa Rambarran bring as brokers to the NYC real estate world. But there's no "broker babble" here. The duo--who recently joined Halstead as the Milano-Rambarran Team--consider themselves the "next generation of real estate," forming important relationships with their new development clients and growing their luxury resale business. But what sets them apart the most is their mission to bring this knowledge of how to use real estate as a wealth building tool to the public, specifically women. They've even created their own platform, Women in Residential Real Estate (WIRRE) to foster this community and connect people through their series of curated events. Ahead, 6sqft chats with Candice and Malessa about how their approach, how they got into real estate, and why it's so important to support fellow females.
Read the interview

November 8, 2018

Uber’s co-founder Travis Kalanick picks up $36M Soho penthouse with heated rooftop pool

Travis Kalanick, the co-founder of Uber who was forced to resign last year after failing to report sexual harassment allegations at the company, has purchased a Soho penthouse for $36.4 million. According to the Wall Street Journal, Kalanick now owns a full-floor duplex penthouse at 565 Broome Street, a 30-story tower, still under construction, designed by Renzo Piano. The sprawling 6,655-square-foot home features four bedrooms, three terraces, and a private rooftop with a heated pool. It was first listed in April for $40.5 million.
Take a peek at the penthouse

Work finally resumes at Brooklyn’s first 1,000+ foot tower

Rendering via SHoP Architects

November 6, 2018

Work finally resumes at Brooklyn’s first 1,000+ foot tower

Since the plan to bring the first supertall tower to Brooklyn was approved by the Landmarks Preservation Commission in the spring of 2016, few updates have been announced about the project. While construction kicked off last year, work on 9 DeKalb Avenue was stalled for months. But YIMBY reported on Tuesday that construction of the Downtown Brooklyn tower appears to have made some progress, with its foundation now visible and workers on site. The planned 1,066-foot-tower is being developed by JDS Development, with SHoP Architects handling its design.
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Renderings via RXR Realty

November 5, 2018

New flyover video of Google’s Pier 57 shows off huge multi-level rooftop park

The transformation of Pier 57 from a former maritime port and bus garage into a modern mixed-use development is fully underway. A flyover video of the site uncovered by CityRealty last week shows off its planned 80,000-square-foot outdoor rooftop park, which claims to be the largest public outdoor space in Chelsea. Led by RXR Realty and Youngwoo & Associates, the $380 million project will bring 265,000 square feet of office space, with Google as the primary tenant.
See the video

Real Estate Trends

FREE RENT: This week’s roundup of NYC rental news

Images (L to R): Summit, House No. 94, EVGB and 7W21

November 3, 2018

FREE RENT: This week’s roundup of NYC rental news

Images (L to R): Summit, House No. 94, EVGB and 7W21 Williamsburg’s, ‘House No. 94’ is 75% Leased and Renting with 1 Month Free [link] Live at The Mill in Ridgewood, New Rental Homes with Amenities from $1,895/Month [link] Summit at 222 E. 44th Street Launches Leasing: Striking 43-Story Tower with Luxury Rentals in Midtown […]

Real Estate Trends

Surpassing 1,000-foot mark, SHoP’s skinny supertall shows off incredible Central Park views

Photo by Michael Toolan

November 2, 2018

Surpassing 1,000-foot mark, SHoP’s skinny supertall shows off incredible Central Park views

Without even reaching its final height of 1,428 feet tall, SHoP Architect's Midtown supertall is already boasting amazing views. New photos released this week of 111 West 57th Street, which recently surpassed 1,000 feet high, show off views from the tower's 64th, 72nd, and 73rd floors. Upon completion, the Billionaires' Row tower will become the tallest residential building in the world, taking the title from 1,396-foot 432 Park Avenue, (until 1,500-foot Central Park Tower tops out). With a super slender frame (a ratio of 1:24), 111 West 57th Street is also set to become the skinniest skyscraper in the world.
See the views

November 2, 2018

Upper East Side townhouse once home to Michael Jackson and Marc Chagall sells for $32M

The six-story Beaux-Arts mansion at 4 East 74th Street on the Upper East Side has been home to several prominent occupants throughout history from President Grover Cleveland’s law partner to artist Marc Chagall; Michael Jackson rented the house the '90s, and it served as the exterior of Nate Archibald’s residence in “Gossip Girl.” According to The New York Times and property records, the 16-room mansion sold in October for nearly $32 million.
Have a last look

Historic Bronx General Post Office is for sale again after food market plans dissolve

The historic Bronx General Post Office on the Grand Concourse is once again for sale, Welcome2TheBronx reports. The familiar neighborhood landmark was purchased from the postal service in 2014 by developer Young Woo & Associates and the Bristol Group for $19 million, as 6sqft previously reported. After suggesting a new life for the 80+-year-old building as "a crossroads for community, commerce and culture" including a food market that could become a dining/drinking/shopping destination, the developer has put the building up for sale for an undisclosed price.
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After five years, supermodel Adriana Lima sells Midtown West condo at a not-pretty discount

Photo of Adriana Lima via Wikimedia

November 1, 2018

After five years, supermodel Adriana Lima sells Midtown West condo at a not-pretty discount

Sure, she sold her former Midtown West condo at nearly 50 percent off, but considering she's Victoria's Secret's longest-running and "most valuable" Angel, we're guessing Adriana Lima will be just fine to take the blow. The Brazilian supermodel bought the three-bedroom apartment at 146 West 57th Street in 2003 for $1,995,000. Six years later, she married NBA player Marko Jarić, and after the couple had two children, they put the 42nd-floor pad on the market for $5.5 million in 2013. But after five years, a 2016 divorce, and four price chops, the pad has finally sold, reports the Post, for the much-discounted price of $3.3 million.
Look around

October 29, 2018

$9.5M Harlem penthouse sets uptown record for most expensive condo

The sale of a $9.45 million penthouse in Harlem closed last week, setting a new record for the most expensive uptown condo sale, the Wall Street Journal reported on Saturday. The 11th-floor apartment at Circa Central Park, which hugs the northern end of Central Park on the corner of West 110th Street, features five bedrooms and a private terrace measuring over 1,200 square feet. The sale is the most expensive condo sale above 96th Street on the West Side of Manhattan, and 102nd Street on the East.
See the penthouse

Real Estate Trends

Image credit: Binyan Studios

October 29, 2018

FXCollaborative reveals new renderings of slender Fidi condo tower

Trinity Place Holding’s new residential tower rising at 77 Greenwich Street in lower Manhattan has just released a teaser site and new renderings showing the 500-foot-tall building in all its future glory. With architecture by FXCollaborative and interiors by Deborah Berke Partners, the tower is four stories in to its 42-story height; sales are scheduled to begin in spring of 2019.
More details and renderings, this way

Long Island City’s Skyline Tower will be the first billion-dollar condo in Queens

Via Hill West Architects

October 26, 2018

Long Island City’s Skyline Tower will be the first billion-dollar condo in Queens

Skyline Tower at 23-15 44th Drive in Long Island City, Queens, just got approved to begin sales, with a marketing plan that estimates a $1.088 billion sellout price, making the 66-story condominium the first in the borough to break the one billion mark, Bloomberg reports. The milestone isn't the only superlative for the building, formerly known as Court Square City View. The 778-foot tower is on a course to become the borough's tallest building.
Find out more

5 River Park; image credit: Williams New York.

October 24, 2018

First tower in Cobble Hill’s LICH-replacing River Park condo project launches sales

Sales began this week at 5 River Park, the first new tower to rise in the River Park project, the seven-building masterplan redevelopment of the former Long Island College Hospital Site. The new building, whose address is 347 Henry Street, is the first to hit the market in phase two of a masterplan comprised of the project's first three new towers, which in turn are part of Fortis Property Group's $240 million plan to transform the Cobble Hill facility into market-rate condos and a clinic.
Amenities, interiors this way

October 23, 2018

Billionaire Bill Ackman in contract to buy a $22.5M Upper West Side penthouse

Hedge fund manager/billionaire Bill Ackman is set to buy a 13-room penthouse on the Upper West Side for close to $22.5 million, as first reported by the Wall Street Journal. Available for the first time in 40 years, the four-bedroom home at 6 West 77th Street was formerly owned by the late author, Nancy Friday. Ackman, who in 2015 bought the penthouse at One57 for $91.5 million as a "fun investment," is the founder of Pershing Square Capital Management and has a net worth of over $1 billion.
Tour the penthouse

McNally Jackson bookstore announces move after 136% rent hike

McNally Jackson bookstore on Spring Street. Image by Carl Mikoy via Flickr.

October 22, 2018

McNally Jackson bookstore announces move after 136% rent hike

As one of New York City's finest all-around independent bookstores, McNally Jackson booksellers on Prince Street is a literary standby for the latest bestsellers as well as thought-provoking political non-fiction, art books, cards, magazines, readings and more. Though the shop occupies a spot on one of the city's most highly-trafficked "High Streets," it has endured for 15 years, long enough to be taken for granted. But that would, of course, be a mistake in the city's current environment of empty storefronts in high rent neighborhoods because only Amazon can afford the rent. And right about the time Amazon has opened a storefront in Soho, the beloved bookseller is moving out after the rent was raised to $850,000--a 136% increase. Fear not, the owner is opening again in a new location, but unlike other, less gutsy mom-and-pop proprietors, she has no fear of being very vocal about the issue, Fox5 NY reports.
Find out more

Images (L to R): The Niko East Village, 30-78 43rd Street, 633 Marcy Avenue and The Essex

October 20, 2018

FREE RENT: This week’s roundup of NYC rental news

By Ondel Hylton

Images (L to R): The Niko East Village, 30-78 43rd Street, 633 Marcy Avenue and The Essex 633 Marcy Avenue in Bed-Stuy Debuts Spacious 2- and 3-Bed Rentals from $2,565/Month [link] The Greystone: Prewar Upper West Side Rentals with Amenities from $2,395/Month [link] The Essex Launches: Tallest Building in Essex Crossing Offers Rentals with 1 […]

Real Estate Trends

Updated looks for COOKFOX’s Domino Sugar building, Williamsburg’s will-be tallest

A previous rendering (left) and new rendering (right) of 1 South First via DBOX for Two Trees Management

October 19, 2018

Updated looks for COOKFOX’s Domino Sugar building, Williamsburg’s will-be tallest

Fully above ground, the second tower to rise at the massive Domino Sugar site has a pair of new renderings. Designed by COOKFOX Architects, 1 South First (previously 260 Kent Avenue) is a 42-story mixed-use tower on the Williamsburg waterfront development, which was formerly home to the sugar manufacturing facility. When 1 South First opens next fall, it will join already opened 325 Kent Avenue and Domino Park, all developed by Two Trees Management.
See them here

Developers of controversial Two Bridges towers pitch $55M in transit and open space improvements

Via Handel Architects

October 18, 2018

Developers of controversial Two Bridges towers pitch $55M in transit and open space improvements

During a City Planning Commission hearing on Wednesday, local residents and officials of the Two Bridges community voiced their strong opposition to four towers planned for the Lower Manhattan neighborhood. Those who testified against the buildings questioned the developer's draft environmental impact study (DEIS), which found the projects would not cause displacement, amNY reported. Developers also announced measures to mitigate the potential adverse effects on the neighborhood, which include upgrading the F train station at East Broadway, improving public parks, and implementing flood protection measures.
Find out more

London housing pioneer will bring NYC’s largest co-living location to Brooklyn

The Collective Old Oak in West London.

October 16, 2018

London housing pioneer will bring NYC’s largest co-living location to Brooklyn

6sqft has checked in periodically to track the progress of co-living brands like Common and a foray into what some call "adult dorms" by co-working giant WeWork. Now, lifestyle and housing brand The Collective, the London-based creator of the world's biggest co-living community, has announced plans for a New York City flagship in Brooklyn at the border between Williamsburg and Bushwick at 555 Broadway.
When can we move in?

High-end shops compete for space in Williamsburg as North 6th rivals Bedford as the main drag

Toby’s Estate cafe and roastery on North 6th Street. Photo by James and Karla Murray exclusively for 6sqft.

October 16, 2018

High-end shops compete for space in Williamsburg as North 6th rivals Bedford as the main drag

It started with Bedford Avenue. Whether you called it Williamsburg 3.0 or the New Brooklyn or any number of monikers signifying the North Brooklyn neighborhood's ascent to the international hall of coolest–and priciest–neighborhood fame, that avenue was its anchor. A Whole Foods and an Apple store soon followed. And, inevitably, as businesses flocked to the surrounding streets, the clear hegemony of Bedford began to become less evident even if its tourist population continued to grow. Now, the New York Post hails North Sixth Street, longtime home of anchor condo The Edge and more recently a growing host of retail chain shops, as the top contender.
The new 34th Street?

October 15, 2018

15 Hudson Yards reveals model home with shoppable interiors by Neiman Marcus fashion director