Real Estate Trends

February 9, 2018

Saudi prince’s Trump Place triplex with three bullet-proof panic rooms sells at a $40M discount

Six years ago, Saudi Prince Nawaf bin Sultan bin Abdulaziz Al-Saud listed his lavish Heritage at Trump Place triplex for a staggering $75 million. Three years ago, it got a price chop to $48.5 million, and The Real Deal now reports that it's closed for an even further discounted $36 million. Since the 10,500-square-foot home listed long before the reign of Trump, we're guessing it's not the building's namesake that caused it trouble on the market. Perhaps having three bullet-proof panic rooms isn't on everyone's real estate wishlist?
Find out more and look around

See new photos of SHoP Architects’ Domino rental tower at 325 Kent

Photo: Adrian Gaut

February 9, 2018

See new photos of SHoP Architects’ Domino rental tower at 325 Kent

By Michelle Cohen

Now that the doughnut-shaped 16-story waterfront rental building at 325 Kent Avenue is nearly complete, you can take a look at some seductive new snaps of interiors and amenity spaces to see if it lives up to the hype. The first structure at the 11-acre Domino Sugar Factory site to open, the 522-unit riverfront tower brings something new to ogle to the famously rezoned Williamsburg neighborhood’s veritable city of glassy condo towers that surround the landmarked Refinery building.
More photos, yoga and food this way

Google to expand footprint at Chelsea’s Pier 57

Rendering via RXR Realty

February 9, 2018

Google to expand footprint at Chelsea’s Pier 57

By Devin Gannon

Earlier this week, Google entered into a contract with Jamestown LP to buy the Chelsea Market building for nearly $2.5 billion, the second largest single sale in New York City's history. And on Friday, Google reached a tentative deal to expand its footprint at Pier 57, adding another 70,000 square feet of space to its prior 250,000-square-foot agreement. According to Crain's, the lease will include an additional 50,000 square feet of educational activities and a new ferry landing.
More this way

Real Estate Trends

February 8, 2018

The long-awaited Bayonne boom: Transit options, adaptive reuse, and affordability

By Michelle Sinclair Colman

Bayonne, located on the southern peninsula of New Jersey’s Gold Coast, is ripe for a construction boom. That being said, it has been awaiting this boom for over 18 years - since the light rail system was installed. As Newport and Jersey City’s markets are on fire, Bayonne hopes that development momentum is headed their way. But with its Hudson River location, city views, access to Manhattan via light rail and the PATH (it is about 30 minutes to take the light rail to the PATH to the World Trade Center), Bayonne has taken its future into its own hands and massively revised its master plan for the first time since 2000. Bayonne considers its proximity to New York City and lower prices its greatest assets. The average home sales are around $400,000 versus $800,000 in Jersey City. The new master plan aims to transform Bayonne into a walkable, bikeable, mixed-use community with densely settled areas (which they call “transit villages”) around the light rail stations. The town’s 22nd Street Light Rail stop connects residents to the rest of the Gold Coast and PATH trains running to Manhattan. Bayonne City Planner Suzanne Mack is quoted as saying, “Our assets are our charm and home life...We’ve moved from being an industrial giant, an oil tank farm basically, into more of a bedroom community with a lot of community resources.”
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Real Estate Trends

Passing $2B in sales, 432 Park becomes highest selling building in NYC ever

Photo via Douglas Elliman

February 7, 2018

Passing $2B in sales, 432 Park becomes highest selling building in NYC ever

By Devin Gannon

CIM Group and Macklowe Properties announced on Wednesday that the world's tallest residential building just broke another record: the single best-selling building in New York City. According to the developers, they have sold $2 billion in luxury condominiums at 432 Park Avenue, a 1,396-foot tower designed by renowned architect Rafael Viñoly. The building's most significant closings include 48 residences selling for more than $20 million each.
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Real Estate Trends

February 7, 2018

New details and renderings for Essex Crossing’s Market Line, NYC’s largest food hall

By Dana Schulz

It's been over a year since we got our first look at Market Line, the 150,000-square-foot market that will anchor the Essex Crossing mega-development. It will serve as the new home for the Lower East Side's iconic, 76-year-old Essex Street Market and boast two indoor parks, a beer garden, 150 food vendors, and 20 retail spaces--all adding up to the city's largest food hall. Eater now has spotted a fresh set of renderings of Market Line, as well as the first vendor announcement. Among those who will be hawking their grub are Queens' famed taco spot Tortilleria Nixtamal, the Upper East Side's 100-year-old German meat market Schaller & Weber, and the East Village's Ukrainian institution Veselka.
Check out the other vendors and more renderings

February 6, 2018

Lottery launches for 258 rentals at TF Cornerstone’s West 57th tower, from $613/month

By Devin Gannon

The lottery for TF Cornerstone's massive building at 606 West 57th Street officially launched on Tuesday, offering 258 mixed-income rentals in the brand new 42-story tower. Designed by Arquitectonica, the rental, dubbed 606W57, boasts a unique, boxy design and will hold over 1,000 apartments. It sits near other West Side architectural standouts like the pyramid-shaped, Bjarke Ingels-designed Via57 West, as well as the Helena. Qualifying New Yorkers earning 40, 60 and 120 percent of the area median income can apply for units ranging from a $613/month studio to a $2,902/month three-bedroom.
Find out if you qualify

Google to buy Chelsea Market building for $2.5B, the second largest single sale in NYC history

Photo of Chelsea Market via Wikimedia

February 6, 2018

Google to buy Chelsea Market building for $2.5B, the second largest single sale in NYC history

By Devin Gannon

Editor's Note: The New York Post reports Google will buy Chelsea Market for $2.5 billion, which would make it the second biggest single sale in the city's history. It closely follows the $2.8 billion purchase of the GM Building in 2007. Google has entered contract with Jamestown LP to buy the Chelsea Market building for over $2 billion. As 2018's first billion dollars plus transaction in New York, the deal is expected to close sometime in the next two months, according to the Real Deal. This will further the tech giant's presence in the Manhattan neighborhood; it is currently the biggest tenant at 75 Ninth Avenue and its headquarters are located across the street at 111 Eighth Avenue.
Find out more

Real Estate Trends

Taylor Swift buys yet another Tribeca property, spending $50M on a single block of real estate

Google Street View of 155 Franklin Street; Taylor Swift via Eva Rinaldi/Flickr

February 6, 2018

Taylor Swift buys yet another Tribeca property, spending $50M on a single block of real estate

By Emily Nonko

Taylor Swift nabbed yet another Tribeca property--bringing her spending along Franklin Street to an astounding $47.7 million. The New York Post reports that she has just purchased a 3,540-square-foot unit on the second floor of 155 Franklin Street, the condo building where she already owns a duplex. The pop star paid financier Jeremy Phillips $9.75 million for it in an off-market deal. She bought her existing top-floor penthouse at 155 Franklin, which spans 8,000 square feet, from “Lord of the Rings” director Peter Jackson in 2014 for $19.95 million. Swift then bought the $18 million townhouse next door, at 153 Franklin Street, which comes with its own paparazzi-proof garage.
There's speculation to her latest purchase

February 5, 2018

Largest timber-constructed office building in the nation planned for Newark’s waterfront

By Devin Gannon

Lotus Equity Group announced on Monday plans to bring the largest mass timber office building in the United States to the Newark waterfront. Michael Green Architecture has been tapped to design the 500,000-square-foot office building made with a wooden structure for Riverfront Square, a massive mixed-use development proposed for the Broad Street corridor of the Jersey neighborhood, according to the Wall Street Journal. The building will rise in three separate sections to six, eight and 11 stories tall and have a concrete foundation. Its columns, exterior panels, elevators, stairwells and floor systems will be made of mass timber. Interiors will boast exposed wood with a facade covered in metal panels, brick or wood.
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NYC RENTALS: This week’s roundup of rental news & offers

By Ondel Hylton

Images (L to R): 325 Kent Avenue, Instrata Gramercy, 63 Wall Street and Watermark LIC Leasing Launches at 490 Lefferts Avenue; New Brooklyn Rentals Start at $2,000/Month Long Island City Hot Block: Live at the Crescent Club and Get 1 Month Free 63 Wall Street Luxury Rentals: 2.5 Months Free on 17 Month Leases + […]

Real Estate Trends

Empire State Building looking for tenants to fill 50,000 square feet of retail space

Photo via Wikimedia

February 2, 2018

Empire State Building looking for tenants to fill 50,000 square feet of retail space

By Devin Gannon

The landlords of New York City's most iconic skyscraper are looking to fill 50,000 square feet of retail space by 2020, even as brick-and-mortar businesses in Manhattan have struggled to stay open. According to Bloomberg, owners of the Empire State Building are marketing the tower's ground-floor, concourse and second-floor real estate, as the building undergoes a retail renovation for the first time since opening in 1931. Plus, the tower's observatory entrance will be moved from Fifth Avenue to 34th Street.
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Real Estate Trends

A $2.5B plan will bring an additional 5 million square feet to the Brooklyn Navy Yard

Overview of Brooklyn Navy Yard via Brooklyn Navy Yard Development Corporation

February 1, 2018

A $2.5B plan will bring an additional 5 million square feet to the Brooklyn Navy Yard

By Devin Gannon

The transformation of the Brooklyn Navy Yard from a warship building site into an industrial tech-hub got an extra boost this week after a non-profit announced a $2.5 billion building plan that would quadruple its current workforce. As Bloomberg first reported, the Brooklyn Navy Yard Development Corporation, which serves as the site's property manager on behalf of the city, plans to add 5.1 million square feet of manufacturing space to the site, with a little over half of it going towards one large complex.
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Real Estate Trends

Aziz Ansari dropped $5.7M on this Tribeca loft right below Taylor Swift

Photo of Aziz Ansari via David Shankbone/Flickr

February 1, 2018

Aziz Ansari dropped $5.7M on this Tribeca loft right below Taylor Swift

By Annie Doge

Back in May, Rangers captain Ryan McDonagh sold his Tribeca loft at 155 Franklin Street, located directly below Taylor Swift's duplex penthouse in the celeb-studded building, for $5.7 million. Though the buyer's identity was shielded by an LLC, the Post now reports that it was none other than comedian and "Master of None" star Aziz Ansari. They don't disclose their sources, but assuming they're correct, Ansari's new three-bedroom spread boasts nearly 2,500 square feet, brick and timber-beamed ceilings, tons of exposed brick, and massive south- and east-facing windows.
Take the tour

Jon Bon Jovi sells West Village duplex for $16M

Photo of Bon Jovi via Wikimedia

January 31, 2018

Jon Bon Jovi sells West Village duplex for $16M

By Annie Doge

For $15.995 million, Jersey rocker Jon Bon Jovi has finally sold his duplex apartment at 150 Charles Street, a celebrity haven in the West Village. But the "Livin' on a Prayer" singer isn't moving too far away; he recently bought a nearly $19 million apartment in the Greenwich Lane, a condominium project that stretches almost a full city block between 12th and 11th Streets off Seventh Avenue. While Bon Jovi attempted to sell the duplex as a $29.5 million combo unit with a neighboring duplex this summer, the apartment went into contract alone, for $15.995 million, according to the Wall Street Journal.
Check it out

January 31, 2018

Fresh renderings revealed of 99 Hudson Street, the soon-to-be tallest building in New Jersey

By Devin Gannon

When construction of 99 Hudson Street wraps up in Jersey City next year, the 889-foot condominium tower will become the tallest building in all of New Jersey. While that title alone is impressive, new renderings of the Perkins Eastman-designed tower show an equally profound modern interior with a swath of amenities (h/t Curbed NY). Developed by China Overseas America, 99 Hudson will rise 79 stories and contain 781 units, while boasting 15,000 square feet of retail space and 14,000 square feet of public space.
See inside

Real Estate Trends

Newport’s master plan ambitions: Diversity and development at LeFrak’s Jersey City community

Rendering of Newport’s new Park and Shore development

January 29, 2018

Newport’s master plan ambitions: Diversity and development at LeFrak’s Jersey City community

By Michelle Sinclair Colman

The mention of Newport conjures up images of yacht-filled harbors, gorgeous mansions, and beautiful beaches. But there is another Newport much closer to downtown Manhattan than Rhode Island and, amazingly, it also has yacht-filled harbors, beautiful residences, a beach, and unparalleled waterfront views. A 600-acre, master-planned community that began almost 35 years ago by the LeFrak family, Newport, Jersey City is now hitting its stride. With sleek architecture, 15,000 residents, 20,000 professionals, a growing mix of retail and commercial options, and a location minutes from midtown and downtown Manhattan, Newport offers some appealing alternatives to those priced out of New York City or others looking for a slightly quieter option. The area boasts its diversity, but with a single family in charge of development and a skyline that looks more like Manhattan than Jersey City, is Newport just Manhattan-lite or does it truly have diversity with offerings for everyone?
Get the whole scoop

Real Estate Trends

January 29, 2018

$8.5K/month Chelsea duplex has a sweet roof deck and plenty of character

By Michelle Cohen

Right from the beginning you'll feel fortunate–if you can swing the $8,495 a month rent–living in this charming townhouse condominium at 360 West 19th Street: You'll only have one neighbor, as the building only contains two units. Two sun-filled upper floors hold the standard townhouse bounty of three bedrooms above a spacious living area, plus a private roof deck, all on a pretty Chelsea block.
Tour the duplex

Bruce Willis sells $18M Central Park West co-op in just one week

Photo of Bruce Willis via Wikimedia

January 29, 2018

Bruce Willis sells $18M Central Park West co-op in just one week

By Annie Doge

Just a little over a week ago, Bruce Willis and wife Emma Heming Willis put their six-bedroom co-op at 271 Central Park West on the market for $17.75 million. They bought the duplex apartment back in 2015 for $17 million (from Milwaukee Bucks owner Wesley Edens), after Willis unloaded his nearby El Dorado co-op for $13 million. The couple recently decided to scale back since they don't spend enough time in the Upper West Side spread, and lucky for them the unit is already in contract, according to Curbed.
Check it out

January 26, 2018

Real estate bigwig drops $4.35M on Seth Meyers’ West Village condo

By Annie Doge

Real estate bigwig Michael Fuchs (he co-founded RFR Realty with his childhood friend Aby Rosen) paid $4.35 million for Seth Meyers' West Village condo at 302 West 12th Street, according to the Post. The “Late Night” host and his wife Alexi Ashe bought the two-bedroom unit in 2013 for $3.5 million, but after dropping $7.5 million on a five-bedroom Washington Square West co-op in summer 2016, they listed their smaller pad this past September for $4.5 million. And Fuchs must've really seen something in the apartment, because he went into contract on it just a month later.
See more, this way

January 26, 2018

The Eleventh, Bjarke Ingels’ pair of twisting towers, takes shape along the High Line

By Devin Gannon

The Eleventh, a pair of slanted towers designed by Bjarke Ingels', officially went vertical in West Chelsea this week. Developed by HFZ Capital, the two-building complex at 76 Eleventh Avenue sits near the High Line between West 18th and 17th Streets. A space between the buildings at their base gives the illusion that the buildings are being pulled apart, and its ruled corners highlight the towers' movement. The project is expected to be completed sometime in 2019.
See it here

Photo of Scaramucci via the World Economic Forum’s Flickr

January 25, 2018

Anthony Scaramucci scoops up brand new Hamptons beach house for $7.5M

By Annie Doge

Anthony Scaramucci, the former White House communications director who President Donald Trump fired before he even started his job, might be having more luck in real estate than in politics. The Mooch and his wife, Deidre Ball, have snagged a mansion in Bridgehampton South for $7.495 million, according to the New York Post. The newly built home at 30 Lawrence Court boasts eight bedrooms, seven and a half baths and a swimming pool.
See the Mooch's new mansion

Did the Obamas just close on this classy Upper East Side duplex for almost $10M?

Barack and Michelle Obama via Wiki Commons; One of 10 Gracie Square’s terraces overlooking the East River, via CityRealty

January 24, 2018

Did the Obamas just close on this classy Upper East Side duplex for almost $10M?

By Annie Doge

In October, 6sqft reported that Barack and Michelle Obama had been spotted on their way to view a listing in Yorkville's 10 Gracie Square. At the time, it was speculated that they checked out a five-bedroom duplex that had gone into contract for $10 million shortly following the visit. The buyer wasn't confirmed, but the unit has now closed for $9.64 million (h/t Katherine Clarke), purchased through a "Gracie Square Revocable Trust. So while it's still not confirmed that the Obamas are moving to the Upper East Side, the building is one of New York City's most prestigious addresses, located just a stone's throw away from the Mayor's residence and over the years attracting the likes of Alexander Woollcott, conductor Andre Kostelanetz, Gloria Vanderbilt and Madame Chiang Kai-Shek.
Take another look

With redevelopment imminent, are Red Hook’s industrial spaces at risk?

Red Hook waterfront; photo courtesy of Sunghwan Yoon’s Flickr

January 23, 2018

With redevelopment imminent, are Red Hook’s industrial spaces at risk?

By Devin Gannon

Like many waterfront communities in New York City, Red Hook is posed for a major redevelopment, with officials itching to bring new housing, commercial space and even mass transit to the industry-heavy Brooklyn neighborhood. In Gov. Andrew Cuomo's State of the State address this month, he said the neighborhood is "full of untapped potential" and called on the Port Authority to "accelerate consideration of relocating its Red Hook maritime activities to free up this waterfront for more productive community use." While almost all of the area is zoned for manufacturing purposes, there's been a significant reduction of industrial space in Red Hook, concerning its long-time residents as retail space has started displacing manufacturing, according to Crain's.
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Real Estate Trends

Jason Biggs sells custom-designed Tribeca loft for $2.7M

Photo of Jason Biggs via Wikimedia

January 22, 2018

Jason Biggs sells custom-designed Tribeca loft for $2.7M

By Annie Doge

"American Pie" actor Jason Biggs and his wife Jenny Mollen have sold their spacious three-bedroom Tribeca loft for $2.65 million, after first putting the pad on the market nearly a year ago. The 2,200-square-foot apartment at 288 West Street boasts authentic details throughout, like timber beams and columns, as well as hardwood oak floors. As the Observer learned, Biggs and Mollen bought the apartment for $2.55 million in October 2013 and tapped designer Cliff Fong to decorate the space. The couple moved to the West Village this past summer after purchasing a $6.98 million four-bedroom condo at the Shephard.
See inside

Real Estate Trends

Saudi prince’s Trump Place triplex with three bullet-proof panic rooms sells at a $40M discount

See new photos of SHoP Architects’ Domino rental tower at 325 Kent

Google to expand footprint at Chelsea’s Pier 57

The long-awaited Bayonne boom: Transit options, adaptive reuse, and affordability

Passing $2B in sales, 432 Park becomes highest selling building in NYC ever

New details and renderings for Essex Crossing’s Market Line, NYC’s largest food hall

Lottery launches for 258 rentals at TF Cornerstone’s West 57th tower, from $613/month

Google to buy Chelsea Market building for $2.5B, the second largest single sale in NYC history

Taylor Swift buys yet another Tribeca property, spending $50M on a single block of real estate

Largest timber-constructed office building in the nation planned for Newark’s waterfront

NYC RENTALS: This week’s roundup of rental news & offers

Empire State Building looking for tenants to fill 50,000 square feet of retail space

A $2.5B plan will bring an additional 5 million square feet to the Brooklyn Navy Yard

Aziz Ansari dropped $5.7M on this Tribeca loft right below Taylor Swift

Jon Bon Jovi sells West Village duplex for $16M

See inside $19.5M Dumbo penthouse, Brooklyn's most expensive condo for sale

Fresh renderings revealed of 99 Hudson Street, the soon-to-be tallest building in New Jersey

Newport’s master plan ambitions: Diversity and development at LeFrak’s Jersey City community

$8.5K/month Chelsea duplex has a sweet roof deck and plenty of character

Bruce Willis sells $18M Central Park West co-op in just one week

Real estate bigwig drops $4.35M on Seth Meyers’ West Village condo

The Eleventh, Bjarke Ingels’ pair of twisting towers, takes shape along the High Line

Anthony Scaramucci scoops up brand new Hamptons beach house for $7.5M

Did the Obamas just close on this classy Upper East Side duplex for almost $10M?

With redevelopment imminent, are Red Hook’s industrial spaces at risk?

Jason Biggs sells custom-designed Tribeca loft for $2.7M

138 Willoughby Street in Downtown Brooklyn

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