Real Estate Trends

October brought a significant spike in home mortgage foreclosure rates, according to The New York Post, with more than 1,100 homes heading into foreclosure. That number represents a 32 percent increase from the previous month and a 37 percent increase from one year ago, with 400 new cases in Queens (nearly twice as many as a year ago). 365 cases were recorded in Brooklyn, a 20 percent increase, with the state overall seeing a 15 percent increase since September and 10 percent year over year, according research by Attom Data Solutions.
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Real Estate Trends

Trump Tower residents are sick of protestors; problem unlikely to improve

Photo via Kristal T/Flickr

November 11, 2016

Trump Tower residents are sick of protestors; problem unlikely to improve

By Diane Pham

Since Donald Trump announced his run for office, Trump Tower, where the President-elect both lives and keeps his political headquarters, has been a hotspot for protestors. While in the past few months, inconveniences haven't escalated far beyond anti-Trumpers stopping by to give the building the finger, after the 2016 election results were announced, it's become veritable zoo outside the 5th Avenue tower as thousands have convened to denounce (and to be sure, support) a Trump presidency. The situation has become a major disruption for residents of the luxury skyscraper who are now annoyed with the crowds. As The Post so fittingly writes, "It’s not so easy being a member of the 1 percent if you live at Trump Tower."
more on the complaints here

November 10, 2016

Real estate industry likely to benefit from a Trump presidency

The city's real estate industry isn't too worried about a Donald Trump presidency. Real estate insiders feel that the man whose family's fortune was made in the industry and padded by its favorable tax breaks, foreign investments and still-rising market will be unlikely to bite the hand that has fed it so well, Crains reports.
Loopholes safe; affordable housing not so much

November 10, 2016

Sports Illustrated model Kate Bock picks up sleek, $1.35M Greenwich Village duplex

Things have been heating up between Cleveland Cavaliers basketball player Kevin Love and Canadian supermodel Kate Bock, but the Sports Illustrated beauty doesn't seem to be settling down in Ohio anytime soon. The Post reports that she's the lucky new owner of this sleek Greenwich Village duplex, last listed for $1.35 million. Located in the Cast Iron Building at 67 East 11th Street, the one-bedroom loft boasts a mod, all-white interior highlighted by two enormous ten-foot windows and a contemporary floating staircase.
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November 9, 2016

Soori High Line penthouse with its own private pool hits the market for $22.5M

By Emily Nonko

The new Chelsea condo Soori High Line, at 522 West 29th Street, has made headlines for apartments that come with their own private pools. And now one of the building's most luxurious condos has hit the market—a penthouse triplex asking $22.5 million. This pad boasts nearly 20 foot ceilings and one incredible, 25-foot-long, four-foot-deep heated rooftop pool.
Take a look

November 8, 2016

Even more pricey condos are coming to Billionaires’ Row

By Diane Pham

Back in September, there were murmurs that the Feil Organization had plans to convert a 57th Street office building into residences. As it turns out, Billionaires' Row will indeed soon find itself with another 34 high-end condos in tow. As Yimby first reports, plans were filed last week to convert a 14-story, 1907 commercial tower at 140 West 57th Street into a mixed-use property that would keep an existing grocery story at its base, but transform the building's upper 12 floors into 70,885 square feet of upscale living space.
more details here

November 7, 2016

Proposed Penn Station-topping free-fall ride gets new video, details

When developers at Brooklyn Capital Partners and designers at AE Superlab revealed their proposal to erect the world's tallest free-fall ride atop Penn Station, it seemed like perhaps a commentary on Governor Cuomo's big-ticket overhaul of the station. But in fact, the team hoped their 1,200-foot Halo, as it's being called, would rise along with the renovations, serving as "an interactive beacon for the city." As 6sqft reported, "the ride’s 11 cars... could be modified to move as quickly as 100 miles per hour giving it a top-to-base free fall of about six seconds." A freshly uncovered video shows this in action, and a new project website provides more details on the logistical components, 20-month construction time period, and $130 million in annual projected revenue.
Plenty more details this way

November 7, 2016

Interior renderings, more details revealed for Richard Meier’s Turtle Bay tower

The largest and tallest building in NYC from Pritzker Prize-winning architect Richard Meier is rising at 685 First Avenue, just south of the United Nations at 39th Street and First Avenue along the East River. Though developer Sheldon Solow bought the 30,000-square-foot site as part of his Turtle Bay South master plan 16 years ago, construction only kicked off in March. A couple months later, renderings were revealed of the 42-story slab tower's dark glass facade--a departure from Meier's typical beige designs and his first ever black building--and now the Times has shared the first interior renderings, along with new details about the residential breakdown (there will be 408 rentals and 148 condominiums) architectural specifics, and amenities.
More details and renderings this way

November 3, 2016

The number of high-income renters has tripled in the last 10 years

By Metro New York

In the last decade, with the recession and an unstable housing market, even those with stable incomes have become wary of investing in a new home. This turn towards renting is reflected in the increase among wealthy households, according to an analysis from RentCafe. The data shows that from 2005 to 2015, the number of […]

Real Estate Trends

Live like a ‘Dreamgirl’ in Jennifer Hudson’s former Apthorp apartment for $21K a month

If anyone needs another reason to covet a home in the amenity-packed Apthorp, the apartment that was recently home to"Dreamgirls" Oscar winner and singer Jennifer Hudson is on the rental market for a suitably diva-esque $21,000 a month (h/t New York Post). The 3,000 square-foot 11th floor unit in the elegant Upper West Side residence at 2211 Broadway has plenty of star power on its own with four bedrooms, a marble entryway, a formal dining room, fireplaces and separate residential suites.
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November 2, 2016

15 CPW still NYC’s most expensive building; 56 Leonard joins lineup of 100 priciest condos

By Diane Pham

Even after countless big ticket closings at blockbuster buildings like 432 Park Avenue and The Greenwich Lane, the long-admired Robert A.M. Stern-designed, Zeckendorf-developed 15 Central Park West (15 CPW) remains king. According to CityRealty's latest CR100 report—an index comprised of the top 100 condominium buildings in Manhattan—units in 15 CPW sold on average for $6,735 per square foot over 12 months, a number that is impressively higher than the index average of $2,824. Tribeca's Herzog & de Meuron-designed "Jenga tower," 56 Leonard also made its debut on the latest CR100, clocking an average price per square foot of $2,657.
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Real Estate Trends

November 2, 2016

Sales launch for Extell’s Lower East Side tower One Manhattan Square

Despite community opposition against the surge of new development in the Two Bridges neighborhood, things are moving full steam ahead in the Chinatown-meets-Lower East Side area. Curbed reports that the project that started it all, One Manhattan Square, has officially launched sales for the first batch of its 815 condos, and they range from a $1.18 million one-bedroom to a $4.4 million three-bedroom. It's prices like these, as well as the 823-foot height, that have angered residents of the mostly low-rise and low-income neighborhood, but nevertheless, the huge luxury building at with an insane amenity package is well on its way to opening its doors.
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November 1, 2016

New renderings revealed for Essex Crossing’s 150,000 square-foot mega-market

The Essex Crossing megaproject is taking shape in the Lower East Side, most notably with the Market Line, the 150,000 square-foot retail area serving the project's buildings. Within will be the new home for the neighborhood's beloved 76-year-old Essex Street Market, upon which concept the modern retail destination was built. As 6sqft previously reported, the SHoP Architects-designed market will be among the largest in the nation. Principal Rohan Mehra of the project's retail development firm Prusik Group told Curbed that he compares the new market to Seattle’s Pike Place Market or Barcelona’s La Boqueria, “hubs of activity” all. The Market Line will stretch over 700 feet across three buildings, incorporating the new city-operated Essex Street Market and several new spaces.
More renderings this way

November 1, 2016

Uma Thurman makes a big profit on her Gramercy Park duplex

Uma Thurman's Gramercy Park duplex went into contract in May after hitting the market for $6.25 million less than two months prior. Considering the co-op at 1 Lexington Avenue came with five bedrooms, a classically elegant look, and a coveted key to the park, it's no shock that it actually closed for $6.61 million, more than five percent over ask, according to the Observer, and well over the $2.65 million the actress paid for it in 2006.
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November 1, 2016

Is the end of the 421-a tax abatement program ‘a self-created recession’?

By Michelle Sinclair Colman

On this past January 1, the 421-a tax abatement program expired after 44 years in existence. Any new construction permitted before January will still benefit from the program, but many want to know what the expiration of this program mean for new construction? And how will the projects still under the 421-a umbrella use their […]

November 1, 2016

FiDi Birkinstock penthouse on the rental market for $20K, international antiquities included

This 3,500-square-foot penthouse atop the Setai Wall Street at 40 Broad Street in the Financial District is a stunning home by NYC standards, but the condominium also includes a world tour's worth of collected fixtures. The two-bedroom penthouse belongs to Alex Birkenstock–scion of the trendy-crunchy European sandal family–who bought the posh pad in 2011 for just under $6 million. An attempt was made in 2104 to sell the apartment for $13 million as 6sqft previously reported. But even after being eventually chopped to $9 million, the pad still doesn't appear to have changed hands. Now it's for rent for $19,995 a month, amazing spin-the-compass collections and all. For starters, there's a 1,000-pound steel and brass safe bought from the Bank of France...
Take the tour

October 31, 2016

Amy Schumer drops $12.1M on glassy Riverside Drive penthouse

Earlier this month, 6sqft shared reports that Amy Schumer toured a $15 million, historic Beaux Arts mansion at 352 Riverside Drive. But just two weeks later, the comedian closed on a more contemporary penthouse farther south along the river. Sources told the Post that she dropped $12.1 million on a 4,500-square-foot duplex at 91st Street, and after some sleuthing, 6sqft has uncovered that it's the top-floor spread at 190 Riverside Drive. The five-bedroom Upper West Side home is described as "a Malibu beach house, with the sophistication of Manhattan architecture," which is fitting considering the wrap-around terrace surrounded by glass walls and the recent renovation by Spivak Architects.
Take a virtual tour of the penthouse

October 31, 2016

Interior and amenity renderings revealed for Hub, Brooklyn’s tallest tower

For now, Downtown Brooklyn's Hub holds the title of tallest building in Brooklyn. Topping off at 610 feet, the Dattner Architects-designed, Douglas Steiner-developed slab tower at 333 Schermerhorn Street will offer 740 apartments, 150 of which became available through the city's affordable housing lottery earlier this month. But aside from its height and number of units, the 55-story building has been turning heads for its list of amenities--a landscaped outdoor terrace with sun deck, 75-foot pool, fitness center with yoga studio, dog run, grilling terrace, indoor and outdoor movie screens, children’s playroom, and bike storage for every unit. And Curbed has gotten its hands on the first set of renderings that show these swanky offerings, along with views of the apartments and news that leasing for the market-rate units will begin in January.
More details and renderings

October 31, 2016

Bobby Flay finds a renter for his $22,500/month Chelsea duplex

Famed chef and Food Network personality Bobby Flay has had a tough time unloading his Chelsea Mercantile duplex since splitting with his ex-wife, "Law & Order: SVU" actress Stephanie March. He originally listed the sprawling home a year ago for $7.95 million, then added the option to rent it for $22,500/month in January, followed by a $1 million price chop in May. But the Post reports today that the Iron Chef has finally found a renter to take the pad off his hands.
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October 31, 2016

Maya Angelou’s second Harlem townhouse sells for $2M

Over the summer, 6sqft shared the sale of the late Maya Angelou's historic Harlem brownstone. After listing last February for $5.1 million, the beautifully preserved home in the Mount Morris Park Historic District finally sold for $4 million in July. But as it turns 0ut, this wasn't the only property she owned that hit the market at the beginning of the year. The Post reports that the author and activist also owned a property for which she was the landlord, just about ten blocks away at 29 East 129th Street, and after hitting the market for $2.6 million and going through two price chops, it's now found a buyer for $1.98 million.
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October 28, 2016

As the election nears, sales at Trump buildings decline

Now that we're nearer to the election, and since the negative press surrounding all things Donald Trump has come to a head, things are starting to crumble for his real estate empire. Not only did his personal hotel brand decide to drop his moniker, but a group of Trump Place tenants even went so far as to petition their board to remove his name from their buildings. A report out today in the Times takes a closer look at how sales are declining, and data from CityRealty confirms that from 2015 to 2016, there was a 17 percent decrease in the number of sales at Trump condos.
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Real Estate Trends

October 27, 2016

Bjarke Ingels’ curving East Harlem rental breaks ground and gets new renderings

When 6sqft first got a look at Bjarke Ingels' curved East Harlem rental, it sported a red corten steel facade reminiscent of the surrounding brick buildings, but a new set of renderings shows a blackened stainless steel exterior that the Danish starchitect told Curbed is "inspired by an elephant’s skin" and will capture and reflect sunlight. Now dubbed Gotham East 126th Residential, the 11-story structure from Blumenfeld Development Group broke ground yesterday, beginning its journey to offer 233 studio, one- and two-bedroom apartments, 46 of which will be affordable.
More details and renderings and the first view inside

October 26, 2016

Elite international schools are attracting buyers to new developments on the Upper East Side and Nomad

By Katy Cornell

Families looking to buy apartments in the Big Apple often have a standard list of demands: safe area, family-friendly neighborhood, and space to accommodate their children. But perhaps most important is the desire to be close to a top school. Though not a new idea, this trend appears to be growing among international buyers who are […]

Real Estate Trends

October 26, 2016

POLL: Is Fifth Avenue losing its luster amid soaring rents and empty storefronts?