Real Estate Trends

Neil Patrick Harris and David Burtka sold their Harlem home earlier this year for $6,990,000, setting a new townhouse record for the Manhattan neighborhood. The couple picked up the property at 2036 Fifth Avenue in 2013 for nearly $3,600,000 and conducted a thorough renovation of the historic home, which was constructed in 1908 as a bed and breakfast. The new neighborhood record breaks the one set in April by the home at 32 Mount Morris Park, which sold for $6,400,000.
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Janet Jackson sells her Central Park West home for $8.8M

All photos courtesy of Yoo Jean Han for Sotheby’s International Realty

August 22, 2022

Janet Jackson sells her Central Park West home for $8.8M

Janet Jackson sold her Upper West Side apartment for $8,800,000 last month, slightly below the initial asking price. As the Wall Street Journal first reported, the pop star's three-bedroom condo in the Trump International Hotel and Tower at 1 Central Park West hit the market in April for $8,995,000. Jackson has owned the home since 1998 but has not lived there since the pandemic.
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See inside One Wall Street, the largest office-to-residential conversion in NYC

Photo credit: Evan Joseph for Macklowe Properties

August 17, 2022

See inside One Wall Street, the largest office-to-residential conversion in NYC

A New York City Art Deco landmark is showing off its second act as a luxury residential tower. Once one of New York's tallest office buildings, One Wall Street now boasts a new superlative: the largest office-to-residential conversion in the city's history. Developed by Macklowe Properties, the 566-unit tower sits within the restored former Irving Trust Company Building, designed in 1931 by famed architect Ralph Walker. New images of the residences and innovative co-working space were released this week, providing a first peek inside one of the city's most unique new residential buildings.
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Leasing launches at Bedford Union Armory rental in Crown Heights, studios from $2,875/month

Renderings courtesy of Pax Brooklyn; Photos courtesy of QuallsBenson, unless otherwise noted

August 16, 2022

Leasing launches at Bedford Union Armory rental in Crown Heights, studios from $2,875/month

Leasing launched this week at a new mixed-income rental building that is part of the redeveloped Bedford Union Armory complex in Crown Heights. Located at 1101 President Street, The Arch rises 16 stories, contains 355 rental units, and offers residents amenities like a furnished rooftop, indoor-outdoor gym, and a work-from-home business center. The more than 160 market-rate apartments start at $2,875/month for a studio, $3,212/month for a one-bedroom, $4,514/month for a two-bedroom, and $5,675/month for a three-bedroom, according to the building's website.
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Photo courtesy of The Corcoran Group

August 15, 2022

This $1.9M West Village pre-war condo has all the interior style of a chic design hotel

Situated on a coveted quad of West Village streets on Abingdon Square, 302 West 12th Street has the classic New York City cachet of being a Bing & Bing building. Within the building, this perfect-sized one-bedroom unit, asking $1,875,000, boasts pre-war charm and condominium flexibility enhanced by stunningly chic renovated interiors, from a colorful European-style kitchen to a vintage-modern bath.
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See inside the new theater, music, and culinary spaces at The Towers of the Waldorf Astoria

Photo credit: Noë & Associates / The Boundary

August 10, 2022

See inside the new theater, music, and culinary spaces at The Towers of the Waldorf Astoria

The Towers of the Waldorf Astoria has released a first look inside two new amenities spaces that honor the iconic hotel’s connection to music history and culinary innovation. The Stage & Screen Theater and The Chrysler Room were designed to add to the building's glamorous history while introducing a new era for the celebrated Park Avenue address.
Take a look inside

Hugh Jackman buys penthouse at Jean Nouvel’s Chelsea condo for $21M

All photos courtesy of Douglas Elliman

August 9, 2022

Hugh Jackman buys penthouse at Jean Nouvel’s Chelsea condo for $21M

Australian actor Hugh Jackman has bought a full-floor penthouse in Chelsea for $21,125,000. As first reported by the Wall Street Journal, the four-bedroom condo sits at the top of 100 Eleventh Avenue, an architectural icon designed by renowned architect Jean Nouvel. The penthouse boasts unparalleled 360-degree views of Manhattan and the Hudson River.
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Andy Cohen buys West Village penthouse with two floors of outdoor space, last listed for $18.3M

All photos courtesy of Brown Harris Stevens

August 4, 2022

Andy Cohen buys West Village penthouse with two floors of outdoor space, last listed for $18.3M

TV host Andy Cohen has bought a palatial West Village penthouse that boasts two floors of outdoor space. As first reported by the New York Post, the home sits atop 299 West 12th Street, a 17-story pre-war condominium built by iconic developer Bing & Bing and designed by Emery Roth. The home has nearly 3,000 square feet of interior space, along with roughly 2,000 square feet of terrace space that offers unique unobstructed city and Hudson River views. While it's not yet known what Cohen, who lives on nearby Horatio Street, paid for the three-bedroom apartment, it was last listed for $18.3 million.
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Cara Delevingne buys Jimmy Fallon’s Gramercy penthouse for $10.8M

Photo by Yale Wagner for Sotheby’s International Realty

August 3, 2022

Cara Delevingne buys Jimmy Fallon’s Gramercy penthouse for $10.8M

Supermodel Cara Delevingne purchased Tonight Show host Jimmy Fallon's Gramercy Park penthouse for $10,800,000 in an off-market deal, according to CityRealty and confirmed by property records. Located at 34 Gramercy Park East, the four-unit triplex combo penthouse was last listed for $15,000,000. The colorfully-decorated home has six bedrooms, five bathrooms, and office space, in addition to a number of unique features. Measuring 5,000 square feet across three floors, the residence has a custom staircase that connects all three levels, and even secret passageways, as 6sqft previously reported.
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Here are Manhattan’s 10 best-selling residential buildings in Q2 2022

The second quarter of 2022 is expected to be Manhattan's strongest on record due to a surge in the borough's ultraluxury market, according to a market report from CityRealty. While transaction volume decreased 11 percent year-over-year, an increased demand, low inventory, and a small number of new residential developments have caused prices to rise. Between April and June, the average sales price for a residential unit in Manhattan was $2.19 million, up 9 percent from its $2 million average in Q2 of 2021. Ahead, find a round-up of the top 10 residential buildings by aggregate sales in Manhattan during the second quarter of 2022.
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Real Estate Trends

463 affordable units available at luxury LIC rental with sweeping city views and a waterfront park

All renderings courtesy of VUW Studio

August 1, 2022

463 affordable units available at luxury LIC rental with sweeping city views and a waterfront park

At a time when finding an affordable apartment in New York City feels impossible, here’s an opportunity to live in a luxury Long Island City building for less. A housing lottery has launched at Gotham Point, a two-tower mixed-use development in Hunter’s Point South with 1,132 apartments, a majority of which are priced below the market rate. After welcoming its first residents to the South tower this spring, the taller North tower is now accepting applications for 463 rent-stabilized rentals at 1-15 57th Avenue, Long Island City, NY. The 58-story building is open to New Yorkers earning between 30 percent and 165 percent of the area median income (AMI), or between $16,183 and $273,075 annually.*
Find out if you qualify

As rents increase in New York City, so do evictions

Photo courtesy of CityRealty

July 28, 2022

As rents increase in New York City, so do evictions

The number of evictions in New York City has increased every month from January to June, according to new city data. The state's eviction moratorium expired on January 15 after officials extended it several times after it first took effect in March 2020, at the start of the pandemic. The data comes as more bad news for renters, who are facing record-high rents after prices fell early on in the pandemic.
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Apply for 160 affordable units at Bedford Union Armory complex in Crown Heights, from $465/month

Image courtesy of the NYC Department of Housing Preservation and Development

July 21, 2022

Apply for 160 affordable units at Bedford Union Armory complex in Crown Heights, from $465/month

Applications are now being accepted for 160 affordable units at a new rental in the Bedford Union Armory redevelopment in Brooklyn. Located at 1101 President Street in Crown Heights, the building offers residents brand new units and a prime location near Prospect Park. New Yorkers earning 30, 40, 50, and 60 percent of the area median income, or between $18,515 for a single person and $99,300 for a household of seven, are eligible to apply for the apartments, which range from $465/month studios to $1,841/month three bedrooms.
Find out if you qualify

Average Manhattan rent tops $5,000 for the first time ever

Photo by Dimitry Anikin on Unsplash

July 14, 2022

Average Manhattan rent tops $5,000 for the first time ever

According to a June market report, the average rental tab in Manhattan has surpassed $5,000 for the first time in the city's history, the New York Post reports. The recent numbers, compiled by Douglas Elliman and Miller Samuel, show that the average Manhattan rent was $5,058 per month in June, a 1.7 percent uptick from the $4,975 May average–and a head-spinning 29 percent year-over-year spike from the $3,922 June 2021 average.
Brooklyn, Queens rents are up, too

Real Estate Trends

$74.34M penthouse at Aman New York is NYC’s biggest sale of the year

All renderings courtesy of Aman New York

July 8, 2022

$74.34M penthouse at Aman New York is NYC’s biggest sale of the year

A penthouse on New York City's Billionaires' Row has sold for $74.34 million, the highest closed sale of 2022 so far. Taking up the entirety of the 20th floor of the Aman New York, a new hotel and residential project at the iconic Crown Building on Fifth Avenue, the home measures over 6,700 square feet and features a private saltwater swimming pool, cabana, and two terraces. The apartment--dubbed the "Jala Penthouse"--was originally listed for $83.53 million.
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Amy Schumer buys Brooklyn Heights townhouse from ‘Moonstruck,’ last listed for $11M

All photos by Evan Joseph courtesy of The Corcoran Group

July 6, 2022

Amy Schumer buys Brooklyn Heights townhouse from ‘Moonstruck,’ last listed for $11M

Amy Schumer is in contract to buy the Brooklyn Heights townhouse featured in the 1987 movie Moonstruck. As first reported by the New York Post, the actress-comedian has toured multiple homes in the historic neighborhood and put an offer on the corner property at 19 Cranberry Street, which was most recently listed for $11,000,000 after first hitting the market last summer for $12,850,000.
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Photo courtesy of Brown Harris Stevens

June 30, 2022

For $7.5M, a two-condo combo means house-sized space and twice the high-floor views

Near the top of the sleek glass tower at 10 West End Avenue, this 3,383-square-foot condominium residence shares the floor with only one other apartment. The two-unit combination means there are two distinct wings–and two full kitchens–within its sprawling footprint, with a four-bedroom (with room for more) configuration that's perfect for entertaining while maintaining private living quarters. Glass-wrapped rooms with three exposures mean panoramic views of the Hudson River, the George Washington Bridge, and the Empire State Building through floor-to-ceiling windows.
See more of this sprawling glass-clad pad

Photo courtesy of Brown Harris Stevens

June 29, 2022

Spend the summer entertaining outdoors on the terrace at this $9.2M Upper West Side condo

Pre-war apartments with their high ceilings and gracious proportions rarely come in condo form, so this 3,200-square-foot condominium residence in The Olcott at 27 West 72nd Street is something of a find to start with. In addition to three-convertible-to-four bedrooms, the Upper West Side home, asking $9,200,000, has plenty of indoor entertaining space. But the best thing about it might be the sprawling terrace that's the size of a townhouse garden–all in a full-service building on a Central Park block.
Private outdoor living, this way

June 24, 2022

Empty Financial District offices at 55 Broad will be converted to 571 apartments

As many of New York City's workers remain remote and office vacancy shows no signs of reversing, many have suggested the city's empty offices be used for living. In one of the largest office-to-residential conversions to be launched during the pandemic, two local developers have purchased the one-third vacant 55 Broad Street with the intention of creating 571 market-rate apartments, the Wall Street Journal reports.
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Real Estate Trends

Photo courtesy of Douglas Elliman Realty

June 23, 2022

For $13.5M, live among the stars, oligarchs, and moguls at 15 Central Park West

When an apartment at the iconic Robert A.M. Stern-designed 15 Central Park West hits the market, a certain kind of discerning buyer takes notice. There's a mansion-sized 8,000-square-foot combo unit available in the coveted building for $58,000,000, so this available half-floor two-bedroom residence seems like a downright steal at $13,450,000. With interiors designed by Axel Vervoordt, the 26th-floor unit spans 2,367 square feet, with the building's signature high ceilings and, best of all, views that sweep out over Central Park, the Hudson River, and beyond.
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See inside Central Park Tower’s newly-unveiled 100th floor amenities club

Photo credit: Evan Joseph

June 21, 2022

See inside Central Park Tower’s newly-unveiled 100th floor amenities club

Central Park Tower, the world's tallest residential building, has officially unveiled New York City's most elevated (literally) private club on the condominium tower's 100th floor. Perched more than 1,000 feet above Billionaires’ Row, the high-flying portion of the building's Central Park Club offers residents of the building's 179 condominiums a suite of private dining and entertaining spaces with incomparable views. Extell Development Company's 1,500-plus-foot-tall tower is also home to the Nordstrom flagship retail store located at its base.
Gaze at the city from the 100th floor

Real Estate Trends

Leasing launches at waterfront rental Astoria West, with apartments priced from $2,920/month

Rendering: Binyan Studio

June 21, 2022

Leasing launches at waterfront rental Astoria West, with apartments priced from $2,920/month

A new three-building development in Astoria with hundreds of apartments officially launched leasing on Tuesday. Developed by Cape Advisors, Astoria West, located at 30-77 Vernon Boulevard faces the tiny urban "beach" Hallet's Cove and contains 534 rentals and more than 40,000 square feet of amenities. Available units range from studios to two bedrooms, priced from $2,920/month.
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Work finally begins on Kushner’s One Journal Square project in Jersey City

All renderings courtesy of Kushner unless otherwise noted

June 17, 2022

Work finally begins on Kushner’s One Journal Square project in Jersey City

Construction is finally underway at Kushner's huge One Journal Square project in Jersey City. The nearly $1 billion mixed-use development consists of two 710-foot-tall towers with more than 1,700 rentals and 45,000 square feet of amenities and public space, including a new Target location as its anchor tenant. The developer was joined by Jersey City Mayor Steven Fulop during a groundbreaking ceremony at the Journal Square site on Thursday.
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All photos courtesy of Compass

June 15, 2022

Hall of Fame Yankees pitcher Mariano Rivera sells Westchester home at a loss