Real Estate Trends

Back in March, 6sqft reported that Justin Timberlake and Jessica Biel signed a deal for a penthouse at 443 Greenwich Street in Tribeca. At the time, the exact apartment wasn't known, though it was assumed it may have been Penthouse G, then under contract for $27.5 million. This was correct, though the power couple ended up paying only $20.2 million for the 5,375-square foot home, according to The Real Deal. The "paparazzi-proof" building--it boasts privacy-focused amenities like an interior courtyard, underground garage, and a porte-cochere--has attracted former tenants including Mike Myers, Ryan Reynolds and Blake Lively, Jennifer Lawrence, and Formula One driver Lewis Hamilton.
See the place

REVEALED: 23-story tower at South Williamsburg’s Dime Savings Bank site

Rendering of The Dime at 209 Havemeyer Street; rendering via Fogarty Finger Architects

May 31, 2017

REVEALED: 23-story tower at South Williamsburg’s Dime Savings Bank site

We know a little bit more of what to expect at one of Williamsburg's most important developments: The south 'burg site at 209 Havemeyer Street between South Fifth and Sixth Streets at the foot of the Williamsburg Bridge, anchored by the Neoclassical-style Dime Savings Bank of Williamsburgh building, will be getting a 23-story mixed-use tower with retail, office and residential space, CityRealty.com reports. The 109-year-old historic bank building will be preserved and restored, and will be integrated into the project at its podium according to details published by the developers. The 340,000 square-foot project will be known as the “the Dime.”
Find out more

May 30, 2017

MAP: Battery Park City is the country’s most expensive zip code for renters

With little surprise, Manhattan comes in first for the highest apartment rents in the country, with Battery Park City leading the way for the most outrageous prices. According to data collected by RentCafe and assembled into an interactive map, the average rent in this downtown 'hood is about $6,000 per month, followed by the Upper East Side averaging $4,898 per month and the Upper West Side $4,892. Other pricey Manhattan zip codes that made the top ten include the Lower East Side, Soho and Clinton.
Find out the average rent of your zip code

Real Estate Trends

Redeveloping NYC’s armories: When adaptive reuse and community building bring controversy

Park Avenue Armory, image © PBDW Architects

May 30, 2017

Redeveloping NYC’s armories: When adaptive reuse and community building bring controversy

Constructed between the 18th and 20th centuries to resemble massive European fortresses and serve as headquarters, housing, and arms storage for state volunteer militia, most of America’s armories that stand today had shed their military affiliations by the later part of the 20th century. Though a number of them did not survive, many of New York City’s historic armories still stand. While some remain in a state of limbo–a recent setback in the redevelopment plans of Brooklyn's controversial Bedford-Union Armory in Crown Heights raises a familiar battle cry–the ways in which they've adapted to the city’s rollercoaster of change are as diverse as the neighborhoods that surround them.
Find out how the city's armories have fared

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

Images (L to R): 153 Remsen Street, Hubb, Trump Bay Street and Orient Park

May 26, 2017

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

Tranquility Abounds at This Boutique Rental in the Vibrant East Village [link] Perfect for Summer: FiDi Rental with Rooftop Oasis is Now Leasing with 1 Month Free [link] Between Iconic Bridges, 60 Water Offers Distinct & Minimalist Design [link] Big Rooms & Kitchens Made for Cooking at Lexington Towers; Now Leasing with 1 Month Free […]

Real Estate Trends

Ahead of L train shutdown, developers flock to properties along G, J, M and Z lines

G Train at Court Square via Wikipedia

May 26, 2017

Ahead of L train shutdown, developers flock to properties along G, J, M and Z lines

In response to the looming 15th-month L train shutdown, which will affect its nearly 225,000 daily riders beginning April 2019, real estate developers have started looking at Williamsburg’s hip and slightly cheaper neighbors, Greenpoint and South Williamsburg. Both areas sit nearby the G, J, M and Z trains, and in the past have offered a variety of housing options at cheaper prices. According to the New York Times, as developers begin their plunge into Greenpoint, sites along these train lines have become pricier and more difficult to lock down.
Find out more

May 25, 2017

Hudson Yards’ art center The Shed wraps up steel construction on its movable shell

By Dana Schulz

After an announcement yesterday morning that Michael R. Bloomberg made a $75 million gift towards Hudson Yards' arts center The Shed--bringing the total raised towards the $500 million capital campaign to $421 million--the "new center for artistic innovation" held a tour to mark the completion of steel construction. The eight-story structure, designed by Diller Scofidio & Renfro in partnership with the Rockwell Group, is a "fixed" base building made up of two gallery levels, a versatile theater, rehearsal space, creative studios for artists, and a sky-lit event space. But what makes the project truly unique is its telescoping outer shell that deploys over the building's courtyard, doubling its footprint and creating a myriad of options for flexible, multi-disciplinary work. Ahead, 6sqft shares an up-close view of this amazing structure.
See all the views and get more info

The Shed via Wikipedia

May 24, 2017

Michael Bloomberg gives $75 million to Hudson Yards arts center The Shed

Michael R. Bloomberg has added a $75 million contribution to what the New York Times calls "New York's first new cultural institution in recent memory," the arts center known as The Shed, part of the new Hudson Yards development on Manhattan's far west side. The former mayor's gift brings the total raised for the project to $421 million of its $500 million capital campaign. The new arts center has gotten much of its funding from a small group of billionaires that includes Related Companies' Stephen M. Ross and media mogul Barry Diller. Set for completion in 2019, the eight-level structure, designed by Diller Scofidio & Renfro in partnership with the Rockwell Group, will host performances, concerts, visual art, music and other events.
A 'tool kit for artists'

REVEALED: Early studies of David Adjaye’s Wall Street Tower, his first skyscraper in NYC

Three years after completing his first New York City building, an affordable housing complex in Harlem called the Sugar Hill Development, starchitect David Adjaye is back. This time, he'll be working with David Lichtenstein's Lightstone Group to design a 61-story, 750-foot-tall condominium in the Financial District at 130 William Street known as the Wall Street Tower. Early conceptual studies uncovered by CityRealty show a gold-trimmed prism set against rigid rows of arched windows, as well as a glimpse at what the 244 apartments and amenity spaces will look like.
See the impressive renderings

May 23, 2017

VIDEO: West 8’s proposal for NYC’s largest private garden at One Manhattan Square

Adding to its unique character, Extell's One Manhattan Square will soon be home to NYC's largest outdoor private garden, detailed in a new video released today by the developer. The proposal, designed by urban planning and landscape architecture firm West 8, includes more than an acre of garden space for residents to both work and socialize, boasting indoor and outdoor grilling spaces, ping-pong tables, a putting green, children's playground, adult tree house, tea pavilion, and an observatory made for stargazing.
Watch the video here

May 22, 2017

Robert Downey Jr. snags a historic windmill cottage in East Hampton

Sources tell Behind the Hedges that "Iron Man" actor Robert Downey Jr. bought the historic Edward DeRose Windmill Cottage on East Hampton. Built circa 1885 to resemble a local windmill (it was never functional), the home sits on four acres and boasts a seven-bedroom main house, two-bedroom guesthouse, three-car garage with a potting shed, 50-foot pool, tennis court, and gorgeous landscaped gardens. It's been on and off the market since 2014 when it listed for $13.5 million. The following year, the price dropped to $11.5 million, but property records show a sale last summer for $10.5 million disguised under an LLC.
Take a look around

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

Images (L to R): Journal Squared, 507 West Chelsea, 525 West 52nd Street and Yorkshire Towers

May 22, 2017

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

Two-Tower Hell’s Kitchen Rental Debuts with Impressive Leasing Special [link] More Than Views – A Closer Look at Jersey City’s 53-Story Rental, Journal Squared [link] No-Fee Apartments with 2 Months Free at 507 West Chelsea, Luxe Living on the High Line [link] New Harlem Rentals Debut on 125th Street; Apartments from $1,994/Month [link] $1,000 Deposits […]

Real Estate Trends

May 18, 2017

Alec Baldwin sells Eldorado apartment for $1.25M

When he's not channelling his inner Trump, Alec Baldwin spends a good deal of time buying and selling NYC real estate. He and wife Hilaria welcomed their third child in the fall, presumably making their current $12 million three-bedroom home in Greenwich Village’s Devonshire House a bit too small (Alec also owns the unit next door, and as 6sqft reported, he sold another one-bedroom in the building for $2.1 million in 2015). The couple was seen scoping out a couple Nomad-area places this fall, but they may now be ready to make the jump as Alec has unloaded yet another apartment, this time uptown at the Eldorado on Central Park West. The unit was an annex, or perhaps maids quarters, for a larger spread in the building, which Alec sold for $9.5 million in 2011. Six years later, he's found a buyer for its counterpart, scoring $1.25 million from private equity firm founder and political economist David E. Spiro.
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May 17, 2017

Watch Herzog & de Meuron’s ‘Jenga Tower’ rise in 60 seconds

By Diane Pham

56 Leonard is one of NYC's most exciting recent architectural additions. Dreamt up by Herzog & de Meuron, the skyline-altering condo tower rises 57 stories with an undeniable acrobatic grace, carefully staggering its floors in a cantilevering Jenga-like configuration that also appears to be in perfect equilibrium. Although the project developed by the Alexico Group and Hines took nearly a decade to build, a new video (h/t The Real Deal) released by the developers fast tracks the long and arduous process, neatly wrapping up 10 years of work into just over 60 seconds.
see the full timelapse here

May 12, 2017

If you’re trying on every NYC neighborhood, start with this $13K/month pre-war Village co-op in ‘large’

It's often said that if you're not sure which neighborhood you'd like, renting is the best way to get to know a few before you make the commitment of buying. And while Greenwich Village is often a top choice, it's an expensive commitment. This $13,000 a month rental in a classic pre-war co-op at 61 West 10th Street is pricey, but you're starting at the top, with a view, on downtown Manhattan's "Gold Coast" in the aptly named Windsor Arms. And there's plenty of room at the top in the form of two big bedrooms with room for more.
Take the tour

Images (L to R): House39, The Dean, 101 West End Avenue and Haven

May 12, 2017

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

Heated Indoor Pool + More Fun Amenities at Greenpoint Rental Leasing with 1 Month Free [link] Striking Crown Heights Rental ‘The Dean’ Debuts; Loft-Inspired Homes from $2,605/Month [link] HOUSE39; Midtown’s “Best in Class” Tower Now Offering 2 Months Free [link] Haven at 875 Dekalb Avenue, Bed-Stuy Rentals with 1 Month Free & 1-Bedrooms from $2,249/Month […]

Real Estate Trends

May 9, 2017

New renderings of Hudson Yards’ retail and restaurant spaces

By Dana Schulz

Yesterday, it was announced that celebrity chef José Andrés, credited with bringing the small-plate concept to the U.S., will be opening a massive Spanish food hall at Hudson Yards, closing a deal for the 35,000-square-foot space at 10 Hudson Yards that Shake Shack guru Danny Meyer had previously been in talks for. On the heels of the news, developers Related Companies and Oxford Properties Group released new renderings of the retail and restaurant spaces coming to the mega-development (h/t Curbed), most of which will be located in the "Shops and Restaurants at Hudson Yards," a seven-story building that will hold the majority of the 25 restaurants and anchor tenant Neiman Marcus.
More renderings and details ahead

May 9, 2017

First look at the amazing amenities at Waterline Square

As 6sqft previously reported, a trio of glassy residential towers known as Waterline Square is rising on a five-acre waterfront site between West 59th and 61st Streets. Aside from the megaproject's size, its roster of starchitects–Richard Meier and Partners, Rafael Viñoly Architects, and Kohn Pedersen Fox Associates–has been most impressive. But now a head-spinning host of perks joins the wow-factor, as Curbed reports that the Rockwell Group has revealed renderings of a three-story amenity space to be dubbed The Waterline Club, divided among all three buildings. Among the offerings are a three-lane pool; 4,600-square-foot kids' playroom; gardening, art, and music studios; and indoor tennis court, basketball court, soccer field, and skate park.
Moreamazing amenities this way

May 9, 2017

You can rent this magical Clinton Hill townhouse with a renovation from loft heaven for a celestial $16K a month

There's no question about it, this Clinton Hill townhouse at 121 Saint James Place is a standout. The historic brownstone, offered for rent at $16,000, recently emerged from a complete renovation by Murdock Solon Architects, underscored by "an artist’s eye and architect’s mind" that incorporates industrial and rustic chic, open and casual loft style and the tall ceilings and endless rooms of a four-story 3,000 square-foot townhouse. Extra-magical additions include 22.5 feet high ceilings, double-height industrial framed windows and reclaimed wood throughout. The home offers four bedrooms, a home office, and a 1,500 square-foot landscaped backyard (which may or may not "make you feel you are in Narnia"). In addition to the stunning triplex, a one-bedroom garden apartment is included, great for guests.
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May 5, 2017

Interview: Developer Ben Shaoul on 196 Orchard Street, his Lower East Side condo rising next to Katz’s

By 6sqft

Ben Shaoul founded Magnum Real Estate Group in 1999, focused on renovating small, rundown rental apartments. After growing its portfolio extensively over the past five years to includeretail properties, condos, and even a dormitory, the firm is now one of the city’s leading ground-up development companies. Their impressive portfolio includes 389 East 89th Street on the Upper […]

Images (L to R): Sky, 605 West 42nd Street, Harlem 125, 69 East 125th Street, The Parkline, 626 Flatbush Avenue and 4540 Center Boulevard

May 5, 2017

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

Get Ready for Summer: Hells Kitchen High-Rise with Two Outdoor Pools Leasing with 1 Month Free [link] A Discussion with Winston Fisher on HOUSE39; Midtown’s “Best in Class” Tower Now Offering Two Mos. Free Rent [link] New Harlem Rentals Debut on 125th Street; Apartments from $1,994/Month [link] Live Near Prospect Park at The Parkline with […]

Real Estate Trends

May 4, 2017

After a bidding war, Diane Kruger unloads super-stylish East Village pad for $1.1M

Actress, model, and fashionista Diane Kruger sold her unsurprisingly stylish East Village pad for $1.1 million, higher than the $985,000 listing price. The Post tells us that a 12-offer bidding war ensued, likely due to the myriad of charming features--expansive exposed brick walls, a renovated modern kitchen, and lovely outdoor terrace--and the prime location at 315 East 12th Street, between booming 1st and 2nd Avenues.
Take a look around

May 4, 2017

Mark Ruffalo sells charming Carroll Gardens townhouse at a loss