Real Estate Trends

June 15, 2016

First Look at BKSK Architect’s Upcoming Condo Tower Planned For 200 East 21st Street

It seems every major intersection in Gramercy between East 20th and 23rd Streets is being redeveloped these days. Last fall, 6sqft reported that a humble set of walk-up buildings at the southeast corner of East 21st Street and Third Avenue were hitting the chopping block. Since then, a new building application has been filed to construct a 20-story condominium designed by BKSK Architects with Alfa Development at the helm. A new rendering of the structure, addressed officially as 200 East 21st Street, was published on the project's EB-5 investors page and shows a two-tiered metal and glass building. There will be 29 one-bedroom units, 24 two-bedrooms, seven three-bedrooms, and three four-bedrooms, for a total of 63 apartments spread across 80,000 square feet. The ground level will host retail spaces and a shortlist of residential amenities includes a 24-hour doorman, concierge, tenants' storage, a bike room, fitness center, and residents' lounge.
Find out more

June 14, 2016

Check Out the Manhattan Skyline in 2020! New Development Sales to Hit $8.4B This Year

By Dana Schulz

As part of their Manhattan New Development Report, CityRealty has released a trio of skyline renderings that show how the city will appear in 2020 -- looking south from the Lower East Side, north from the tip of the island, and of course, down on Central Park South's Billionaires' Row. The eye-popping images underscore the fact that new developments have been "markedly above the average price of all other Manhattan condos since 2013." The average sales price in new developments is expected to hit $4.4 million this year and $5.7 million by 2018. By comparison, the expected average price of a non-new development condo for 2016 is $2.65 million. Moreover, new development sales totaled $5.4 billion last year, up from 2014's $4.1 billion. This figure is expected to reach $8.4 billion this year and more than $10 billion by 2018.
See all the renderings and find out which buildings are leading the pack

June 14, 2016

Construction on LaGuardia AirTrain Kicks Off This Afternoon

By Dana Schulz

Earlier this month, it was announced that work on Governor Cuomo's $4 billion overhaul of LaGuardia Airport would begin this summer, and today NY1 reports that a groundbreaking ceremony for the new AirTrain (part of the overall modernization plan) is taking place this afternoon. It will span 1.5 miles along the Grand Central Parkway, connecting with the 7 train and Long Island Railroad at Willets Point. A 2015 estimate put its cost at $450 million.
Find out more

June 14, 2016

Alan Cumming Sells $2.2M East Village Co-op in a Month

By Annie Doge

Star of "The Good Wife" Alan Cumming has sold his four-bedroom East Village co-op at 297 East 10th Street in just a month's time, the Observer tells us. After reports that he and his husband, graphic designer Grant Shaffer, were renovating a nearby 19th century townhouse they bought in 2013 for or $4.65 million, the couple listed the charming East Village apartment for $2.2 million last month. They bought the home on the third floor of a brick rowhouse in 2005 for $1.7 million and undertook some renovations, but were sure to maintain the historic details like an original wood-burning fireplace with a carved wooden mantel, wide-plank hardwood floors, architectural moldings, and beautiful built-ins.
See the whole apartment

June 14, 2016

EŌS, The City’s Shortest Skyscraper, Now Renting From $4,705/Month in Midtown West

By Ondel Hylton

EŌS, the mixed-use tower in Midtown West that 6sqft knighted as the shortest skyscraper in the city, is approaching its construction finish line and after a decade in the making, its 300 rental units are coming online. Countering our superlative, the fully launched website leads with an image of a bath-robed woman perched high above the city looking to the east - the building is named after the Greek winged goddess of the dawn afterall. The site also publishes new renderings of apartment interiors, some of the building's many amenities, and its far-reaching views across the city. The 500-foot-tall sleek glass slab was designed by COOKFOX Architects and developed by the Durst Organization. Though quite anonymous from the outside, across its 47 stories are an array of uses that include 122,000 square feet of commercial space that Nike is reportedly anchoring, 70,000 square feet of retail, and 375 residential units above (20 percent of which are designated as affordable).
Get more details

June 12, 2016

First Look at New 10-Unit Rental Planned for Washington Heights

By Dejah Mcgibbon

Last fall, permits were filed to construct a six-story, 10-unit residential building at 563 West 170th Street in Washington Heights. The single-story garage building that occupied the mid-block site between Audubon and St. Nicholas Avenues has been removed and will soon be replaced by a sleek glass and metal building developed by Michael Reznik of Central Park Capital Group and designed by Charles Diehl.
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June 10, 2016

Archilier Architects Design Empire State Building-Sized Tower for Former Subway Inn Site

By Ondel Hylton

Earlier this year, 6sqft showed you new renderings of Archilier Architects' "Hudson Rise" mixed-use skyscraper planned for Manhattan's west side. Now the design firm has published their vision for a soaring, super-thin supertall at the former site of beloved dive bar Subway Inn at 151 East 60th Street. Kuafu Properties owns the 28,619-square-foot, six-building assemblage at 143-161 East 60th Street between Lexington and Third Avenues, which they acquired from the World Wide Group last year for $300 million, according to The Real Deal. Kuafu is one of the developers behind the Archilier-designed Hudson Rise development, thus these released renderings may indeed be working images of the planned project. The slender tower shown would encompass 411,700 gross square feet of area and rise 1,240 feet high, just 10 feet shy of the Empire State Building's height of 1,250 feet, despite containing just one-fifth of the floor space. The tower would technically be the tallest building on the Upper East Side (by far), but would be 158 feet shorter than nearby 432 Park Avenue in Midtown.
More details ahead

June 10, 2016

Grand Loft on Grand Street With Original Cast Iron Columns Asks $17,500/Month

By Emily Nonko

This Lower East Side loft is so grand you need a wide-angled lens to capture all its lofty goodness in a photo. The apartment comes from 345 Grand Street, a cast iron building that is now a six-unit condo. It's just been listed for rent for a hefty $17,500 a month. With all that money comes excellent features—the original wood beamed joist ceilings, a wood-burning fireplace, a private terrace—as well as 2,500 square feet of space to spread out. Another bonus: this well-designed space will come fully furnished for the lucky renter.
Take a peek

June 10, 2016

Apply for 20 Affordable Apartments on East 165th Street, Starting at $690/Month

By Ondel Hylton

Applications are now being accepted for 20 brand new affordable homes at 491 East 165th Street in the Morrisania section of the Bronx. The 10-story building will house eight studio apartments priced at $690 per month for qualified applicants earning between $24,995 and $38,100 annually. Six one-bedroom units are priced at $775/month and are available to one- or two-family households earning between $27,943 and $43,500 per year, and six two-bedroom units will go for $950/month for two- to four-person households earning between $33,943 and $54,360 per year.
Get more info right here

June 9, 2016

Micro-Apartments at Carmel Place Starting from $2,570 and Offering a Month Free

By Ondel Hylton

For you minimalist gurus who also relish on-site amenities, there is a now a building for you. Earlier this spring, leasing kicked off for the city's first micro-housing development, Carmel Place (formerly known as My Micro NY) at 335 East 27th Street. Developed by Monadnock Development and designed by nARCHITECTS, the newly finished no-fee building is a prototype meant to test compact and efficient living arrangements within the city's tight housing market, as well as accommodate the city’s growing population of one- and two-person households. Thee leasing team led by Citi-Habitats is offering one month free on all 12- and 24-month leases. According to CityRealty, there are seven micro-studios available ranging from 265 to 360 square feet. Though the units are nearly half the size of typical studio apartments, monthly rents are not analogously micro with current asking prices ranging from $2,570 to $2,920 per month. That's an average of $110 per square foot, significantly more than $83 per square foot median studio price in Murray Hill and $60 per square foot in Gramercy.
Find out more this way

Sarah Jessica Parker and Matthew Broderick Pay $34.5M for Two West Village Townhouses

By Annie Doge

It looks like Sarah Jessica Parker and husband Matthew Broderick have just closed on two West Village townhouses for $34.5 million, according to The Real Deal. It was rumored in February that the actress was combining a pair of brick homes to create her own mega-mansion, working with power-broker Dolly Lenz to make a deal happen. The buy comes just over a year after the couple sold off their Greenwich Village townhouse for a hefty $18.25 million—although at a discount and a loss (they originally paid $18.995 million in 2011, and then asked $20 million) after letting it linger on the market for nearly three years. The two homes snagged the "Sex and The City" star are located at 273 and 275 West 11th Street, which together combine into a 50-foot-wide residence with 13,900 square feet of interior space, plus a massive yard measuring 2,100 square feet.
let the renovations begin!

June 7, 2016

One Vanderbilt Will Cost a Whopping $3.14 Billion

By Dana Schulz

Another supertall tower will join the $3 billion+ club. The Real Deal reports that SL Green Realty has pegged the cost of One Vanderbilt, Midtown's future tallest tower, at $3.14 billion. The city's largest office landlord also said it hopes to close on a $1.5 billion construction loan by the end of the summer, leaving $1.64 in equity needed to complete the 1,401-foot tower designed by Kohn Pedersen Fox. As TRD notes, One World Trade Center became the world's most expensive office tower in 2014 when it opened with a final cost of around $3.8 billion. Bjarke Ingels' planned High Line tower known as the Spiral is also expected to run over $3 billion.
More details this way

June 7, 2016

Shhhh… A Look at New York’s Ongoing Battle With Noise

By Cait Etherington

New Yorkers may be surprised to learn that they do not live in the world’s loudest city. That dubious honor goes to Mumbai where noise levels have been known to reach close to 124dB. To put this figure into perspective, 124dB is somewhere between the sound levels typically reached by chain saws (120dB) and the […]

June 6, 2016

Condo/Cultural Building Designed by the Late Zaha Hadid Will Rise in West Chelsea

By Dana Schulz

When the architecture community learned of the passing of Zaha Hadid in late March, it came as a bit of consolation that her first and only building in New York, 520 West 28th Street, had already begun to take shape along the High Line, ensuring that her legacy would last in our skyline. In much welcome news, 6sqft learns today that yet another design of hers will rise just three blocks away in Chelsea. A press release from The Moinian Group reveals that more than a year ago they worked with Hadid and her team to explore possibilities for 220 Eleventh Avenue, one of her final creations. The developer announced that the new building will be "a collection of signature loft-like condominium residences, a collection of penthouses and a cultural institution to establish itself as the hub of the world renowned art district that is West Chelsea."
More details this way

June 6, 2016

Flexible Floor Plan at This Bright Greenwich Village Apartment, Asking $4,500/Month

By Emily Nonko

This Greenwich Village rental apartment at 101 West 11th Street can wear several hats. One on hand, this could be a one bedroom with a living room and a separate dining room. On the other, it could be used as a two-bedroom apartment. Either way, it's a nice bright apartment with all the New York essentials: big windows, high ceilings, wood floors and a fireplace.
See the space

June 5, 2016

Art-Deco Masterpiece 70 Pine Street Opens, Offering Two Months Free Rent

By Ondel Hylton

It's not everyday that one has the chance to live in one of the world's finest skyscrapers. Details of The Pinnacle at The Woolworth Tower Residences have yet to be revealed, but for those of us still saving to buy a piece of history, the rentals at 70 Pine Street await. Soaring to a cloud-popping height of 66 stories and 952 feet, the building is essentially downtown's Empire State Building and was the world's third tallest building upon completion in 1932. Designed by Clinton & Russell, Holton & George for the utilities conglomerate Cities Service company (later known as CITGO), the tower was sold to the American International Group (AIG) in 1976, where they held their offices until the last recession. Breathing new life into the landmarked building, Rose Associates is re-conceiving the commercial icon into 644 rental apartments, a 137-room extended stay hotel, and 35,000 square feet of retail space. And for a limited time, Rose is offering two months free rent or one month free rent and paid broker's fee for newly-signed leases. The homes are divided into the city, tower, and penthouse collections and as we await construction to fully wrap up, 17 apartments are currently available throughout its mid-level city collection floors.
Find out more this way

June 3, 2016

45 East 22nd Street Tops Out, Officially Tallest Skyscraper Between Midtown and Downtown

By Ondel Hylton

Who would have thought the most alluring residential skyscraper addition to the city's post-recession boom would not rise in Midtown, near its overly-discussed Billionaires' Row, or near the city's historical skyscraper center, the Financial District, but rather smack dab between the two at 45 East 22nd Street in the Flatiron. Overlooking Madison Square Park and its turn-of-the-century engineering marvels--the Flatiron Building and Metropolitan Life Building--the svelte glass spire has fully ascended to its full 65-story, 777-foot peak. A malnourished baby on the world stage, the building's height is less than a third of the world's tallest building and will contain a paltry 83 condominium units priced from $2.5 million for a one-bedroom to $38 million for one of its two penthouses.
More on the building this way

June 3, 2016

Revealed: Morris Adjmi Pens Coffered Facade For Condos Next to Bowlmor Lanes Site

By Ondel Hylton

Here's our first look at the Morris Adjmi-designed condos slated for the southwest corner of West 13th Street and University Place in Greenwich Village. The project, tentatively addressed 34 East 13th Street, rubs shoulders with Annabelle Selldorf's 21 East 12th Street condo development, which replaced the large building that held Bowlmor Lanes. Last year, NYREJ reported that Ranger Properties and Sagamore Capital purchased the three-building corner assemblage for $22 million or $1,100 per square foot, one of the most expensive residential development transactions ever downtown.
More details ahead

June 3, 2016

Dreamy Two-Bedroom in West Soho Hits the Rental Market For $8,500/Month

By Emily Nonko

There's something ethereal about this co-op, now up for rent at 57 Thompson Street in Soho. Maybe it's the artwork, or the exposed brick that's been painted white, or the nine-foot ceilings, or the treetop views from the big windows. Simply put, we believe the listing when it says this two-bedroom apartment has a dreamy, peaceful quality to it.
See the entire space

June 2, 2016

$4B Overhaul of LaGuardia Airport to Begin This Summer, New Renderings

By Dana Schulz

When Governor Cuomo revealed details and flashy renderings for his planned $4 billion overhaul of LaGuardia Airport, he assured New Yorkers "It’s not a plan; it’s not a sketch; it’s not a dream; it’s not a vision—it’s actually happening." And he wasn't kidding; LaGuardia Gateway Partners, a public-private partnership formed by the Port Authority of New York and New Jersey, announced yesterday that they closed on the deal to develop a "replacement to the maligned LaGuardia Airport's Central Terminal Building and operate the new facility through 2050," according to Crain's. With work expected to kick off this summer, Curbed has also uncovered a few new renderings of the plan.
More details ahead

First Full Look at Nolita’s 75 Kenmare Street, Will Have Lenny Kravitz-Designed Condos

Rendering via the Rinaldi Group

June 2, 2016

First Full Look at Nolita’s 75 Kenmare Street, Will Have Lenny Kravitz-Designed Condos

By Ondel Hylton

After getting a peek of its entryway facade in March and announcing that rocker/actor Lenny Kravitz will mold its interior residences, we now have our first full look at DHA Capital's 35-unit condominium 75 Kenmare Street. Situated at the corner of Mulberry Street in Nolita, the upcoming seven-story development converts and expands upon a parking garage which DHA, in partnership with AMS Acquisitions and First Atlantic Capital, purchased for $50 million last year. Manhattan-based architect Andre Kikoski designed a sumptuous masonry skin composed of "richly textured and finely scaled" cast-formed concrete, and the apartments are expected to go from $1.7 million to more than $12 million.
Find out more

June 2, 2016

Fusing Art and Luxury Real Estate, Two Pros Discuss Their Approach

By Diane Pham

With so many high-end and ultra-luxury towers coming to the market, it’s becoming increasingly difficult for developers to stand out in the crowd. While wild amenities have typically dominated as a way to distinguish one’s building, some developers are trying to extend their reach even further by appealing to the artistic sensibilities of the wealthy. As CityRealty writes, for […]

June 2, 2016

Emmut Properties Plans Another Faux-Loft Building in the Bowery’s Shrinking Lighting District

By Ondel Hylton

The future of the Bowery's "lighting district" continues to dim as Emmut Properties plans a second mixed-use building along the former Skid Row still home to more than a dozen lighting stores. Emmut's latest Lower East Side foray is planned at 331 Broome Street. According to the developer's website, the new building will ascend eight floors and feature ground level retail, hotel suites and apartments above.
More details this way

June 1, 2016

Leasing Begins at The Giovanni in Downtown Brooklyn, Rents From $2,379 Plus a Month Free

By Ondel Hylton

John Catsimatidis' Big Apple Group has kicked-off leasing for The Giovanni, the latest addition to a quartet of rental buildings ushering in more than 1,000 units along a once underutilized section of Myrtle Avenue. Located at 81 Fleet Place within the crossroads of bucolic Fort Greene and thriving Downtown Brooklyn, the recently finished 15-floor building is comprised of 205 no-fee apartments with retail space along its lower levels. Like its sister buildings, the Andrea and the Margo, Dattner is the building's architect and the firm has configured a mix of studio, one- and two-bedroom apartments, many featuring balconies or roof terraces.
more on what's available here

Real Estate Trends

First Look at BKSK Architect’s Upcoming Condo Tower Planned For 200 East 21st Street

Check Out the Manhattan Skyline in 2020! New Development Sales to Hit $8.4B This Year

Construction on LaGuardia AirTrain Kicks Off This Afternoon

Alan Cumming Sells $2.2M East Village Co-op in a Month

EŌS, The City’s Shortest Skyscraper, Now Renting From $4,705/Month in Midtown West

First Look at New 10-Unit Rental Planned for Washington Heights

Archilier Architects Design Empire State Building-Sized Tower for Former Subway Inn Site

Grand Loft on Grand Street With Original Cast Iron Columns Asks $17,500/Month

Apply for 20 Affordable Apartments on East 165th Street, Starting at $690/Month

Micro-Apartments at Carmel Place Starting from $2,570 and Offering a Month Free

Sarah Jessica Parker and Matthew Broderick Pay $34.5M for Two West Village Townhouses

One Vanderbilt Will Cost a Whopping $3.14 Billion

Shhhh… A Look at New York’s Ongoing Battle With Noise

Condo/Cultural Building Designed by the Late Zaha Hadid Will Rise in West Chelsea

Flexible Floor Plan at This Bright Greenwich Village Apartment, Asking $4,500/Month

This $4.8M townhouse adds modern architecture to a historic Manhattan Valley block

Art-Deco Masterpiece 70 Pine Street Opens, Offering Two Months Free Rent

45 East 22nd Street Tops Out, Officially Tallest Skyscraper Between Midtown and Downtown

Revealed: Morris Adjmi Pens Coffered Facade For Condos Next to Bowlmor Lanes Site

Dreamy Two-Bedroom in West Soho Hits the Rental Market For $8,500/Month

$4B Overhaul of LaGuardia Airport to Begin This Summer, New Renderings

First Full Look at Nolita’s 75 Kenmare Street, Will Have Lenny Kravitz-Designed Condos

Fusing Art and Luxury Real Estate, Two Pros Discuss Their Approach

Emmut Properties Plans Another Faux-Loft Building in the Bowery’s Shrinking Lighting District

Leasing Begins at The Giovanni in Downtown Brooklyn, Rents From $2,379 Plus a Month Free

138 Willoughby Street in Downtown Brooklyn

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