Real Estate Trends

Developers Chop 432 Park’s Full-Floor Apartments Into Smaller, Cheaper Units
November 10, 2015

Developers Chop 432 Park’s Full-Floor Apartments Into Smaller, Cheaper Units

By
Is the city's tallest residential tower seeing a slowdown in sales? Crain's reports that 432 Park developers CIM and Harry Macklowe have begun splitting full-floor apartments at the 1,396-foot-tall tower into two with the hopes of attracting smaller ticket buyers who can't swing $80 million for a posh pad—but wouldn't be opposed to shelling out $40 million. The paper adds that the move "may signal a slowdown in sales for $50 million-plus apartments," particularly as the market gets inundated with ultra-luxe developments. "There is some concern that there aren't enough buyers who can afford apartments priced in the tens of millions of dollars—an increasingly common figure for the latest crop of ultra-luxury condos."
find out more here
Architect Lee Mindel Lists Penthouse; Chinese Finger Trap-Like Hotel Proposed for Hudson Yards
November 10, 2015

Architect Lee Mindel Lists Penthouse; Chinese Finger Trap-Like Hotel Proposed for Hudson Yards

By

Remember this $10.7M sculptural penthouse featured on 6sqft? Turns out the owner is architect Lee Mindel. [WSJ] Here are all the marketing stops Extell is pulling to attract foreign buyers to One Manhattan Square. [BB] Blackhouse Development has tapped L.A. architecture firm M-Rad to design a wild 740-foot tall hotel at the Hudson Yards. “Imagine a hotel that can move […]

Rendering Revealed for Brooklyn’s First 1,000-Foot Tower
November 9, 2015

Rendering Revealed for Brooklyn’s First 1,000-Foot Tower

By
News broke back in August that Brooklyn's first tower over 1,000 feet might rise in Downtown Brooklyn as the result of the $90 million acquisition of Brooklyn’s landmarked Dime Savings Bank building by JDS Development. Previously, they bought the site next door for $43 million, and combined with the bank's 300,000 square feet of development rights, they acquired the means to build a tower of nearly 600,000 square feet at 340 Flatbush Avenue Extension. 6sqft got a taste of what's to come when we revealed a video that showed the insane views from the top of the could-be tower, but now Yimby has unveiled the official renderings and specs for the project, which come courtesy of starchitects SHoP. As previously speculated, it will reach 1,000 feet, making it the tallest building in the outer boroughs. The 90-story, vaguely Art Deco tower will have 466,000 square feet of residential space, amounting to 550 condo units, as well as 140,000 square feet of commercial space.
More on the development ahead
Seven Floors of One57 Hit the Market for $250 Million
November 9, 2015

Seven Floors of One57 Hit the Market for $250 Million

By
It may not be the penultimate $100 million penthouse, but an investor with enough dough can still make headlines buying into the city's most expensive condo tower. According to the Journal, Extell is selling a block of 38 rentals in its blockbuster One57 for $250 million. The paper writes that unloading the units will bring the developer $3,800 a square foot, or an average of more than $6.5 million per apartment—more than double the $1,800 average of Manhattan condos sold during the third quarter.
FInd out more
‘Scrubs’ and ‘Clueless’ Star Donald Faison Sells $2.5M Harlem Brownstone
November 9, 2015

‘Scrubs’ and ‘Clueless’ Star Donald Faison Sells $2.5M Harlem Brownstone

By
Depending upon your age, you may know actor Donald Faison best for his role as Murray on "Clueless" or as Dr. Chris Turk on "Scrubs." But long before he became a household face, Faison grew up right here in Harlem, with his parents active in the National Black Theatre in Harlem. In 2010, he returned to his roots and bought a historic townhouse at 206 West 137th Street for $1.4 million, but The Real Deal reports that he's now sold the six-bedroom home, last listed for $2.5 million.
Take a look around
Morris Adjmi’s 465 Pacific Street Now 50 Percent in Contract
November 8, 2015

Morris Adjmi’s 465 Pacific Street Now 50 Percent in Contract

By
Just one month after kicking off sales, Boerum Hill's hottest new condominium development, 465 Pacific Street has already signed half of its 30 units into contract. Even more impressive is that the $55 million development is slated for completion some 18-months from now, with foundation pouring just commencing last month. The project is conceived by a partnership between Avery Hall Investments and ARIA Development Group who paid $18 million ($373 per buildable square foot) for the L-shaped lot in May 2013, a record for a large Brooklyn parcel according to Crain's New York.
more on the project
More Manhattan Rentals Are Listed Above $15,000 Than Under $2,000

Graph courtesy of The Real Deal

November 6, 2015

More Manhattan Rentals Are Listed Above $15,000 Than Under $2,000

By
Looking for a rental under $2,000 a month? Keep your fingers crossed and head to the Upper East Side. In a new analysis of on-line residential exclusive listings data as of October 8th, The Real Deal concludes that there are more Manhattan rentals priced above $15,000 than there are under $2,000, further proving that the uber-luxury market is not letting up. But for the latter category, the neighborhoods of Yorkville, Carnegie Hill, and Lenox Hill are the best bet. In fact, the UES has more listings below $2,000 than all of Manhattan south of Central Park.
More on the trends this way
Construction Update: FXFowle’s Circle-Hugging Harlem Condominium Rises Over Central Park
November 6, 2015

Construction Update: FXFowle’s Circle-Hugging Harlem Condominium Rises Over Central Park

By
Artimus Construction's upcoming Harlem condo development Circa Central Park is rapidly rising skyward. After lengthy site remediation work due to a pre-existing BP gas station, the structure is finally above ground and already beginning to frame its sixth floor. Ultimately, the building will stand 11 stories/140 feet high and will contain some 126,362 square feet of total floor area. Artimus picked up the 13,500-square-foot site at 2040 Frederick Douglass Boulevard (285 West 110th Street) for $25 million in late 2013 after being selected through a bidding process conducted by the city's Economic Development Corporation. As part of the deal, Artimus must build space for the local Millennium Dance Company, which will occupy 8,000 square feet of the ground floor, and 20 percent of the building's 51 apartments must be designated as affordable housing.
More details ahead
Listings Launch for Nomad’s 212 Fifth Avenue Condo Conversion
November 6, 2015

Listings Launch for Nomad’s 212 Fifth Avenue Condo Conversion

By
Though sales began a few weeks ago, listings are up for 212 Fifth Avenue, the highly-anticipated in-progress Nomad condo conversion by NYC-based firm Helpern consisting of 48 two-, three- and four-bedroom residences in a landmarked 1912 neo-Gothic building at the northwest corner of Madison Square Park. Listings with Town Residential–16 currently–range from 5C, a $3.9 million fifth-floor two-bedroom home, to $16.1 million for one of the building's 4,000-square-foot+ four-bedroom residences on the 15th floor. Floors 3-13 of the 24-story building offer three units per floor while floors 14-19 offer two; two immense triplex penthouses with Empire State Building and city skyline views are still to come. All homes boast multi-zoned heat and air, vented kitchens and bathrooms and smart home technology. Interior finishes were created by renowned designers Pembrooke & Ives and include eight-foot doors, book-matched marble, solid oak floors and custom cabinetry.
Floor plans and renderings this way
Tracking Williamsburg’s Mafia; Grand Central Commuter Rail Project Will Cost $1M a Foot
November 5, 2015

Tracking Williamsburg’s Mafia; Grand Central Commuter Rail Project Will Cost $1M a Foot

By

Williamsburg’s now forgotten mafia ties. [Vice] Artist Abby Leigh, widow of Tony Award-winning composer Mitch “Man of La Mancha” Leigh, just purchased an $8M apartment at 455 Central Park West. [NYP] Related’s ultra-luxe Carnegie Park is now 75 percent sold. [6sqft inbox] The East Side Access, a commuter rail project that will offer connect the […]

One57 Leads New Report of Manhattan’s Top 100 Condo Buildings
November 4, 2015

One57 Leads New Report of Manhattan’s Top 100 Condo Buildings

By
Six months may not seem like a long time, but a lot can happen in the Manhattan building market in 180 days, which is why CityRealty has released its new CR100 report, "an index comprised of the top 100 condominium buildings in Manhattan." The data tracks the performance of these buildings through the second and third quarters of 2015, and, not surprisingly, One57 has come out on top. The Billionaires' Row powerhouse has surpassed long-time leader 15 Central Park West as the most expensive condo on the island, coming in at $6,010 per square foot over the past 12 months, as compared to 15 CPW's $5,726. It also steals the spotlight for the majority of the last six months' most expensive sales.
More condo data ahead
Construction Update: Herzog & de Meuron’s 215 Chrystie Street Shimmies and Shakes Upward
November 3, 2015

Construction Update: Herzog & de Meuron’s 215 Chrystie Street Shimmies and Shakes Upward

By
The structure of Ian Schrager/Witkoff Group's 26-story hotel/condominium combo 215 Chrystie Street is now more than half way up, giving us a clearer view of the "tough-luxe" exterior composed of raw concrete and large clear glass panes. Designed by Pritzker Prize-winning firm Herzog & de Meuron, with Handel Architects as architects of record, the tower's lower levels feature a highly-textured facade of inwardly-tilting columns framing expansive clear panes of glass. The tilt creates slightly more interior space, and from ground level, increases the amount of reflection in the glass, thus providing more privacy for guests. According to the firm's webpage on the project, "The structure of the building is pushed to the exterior and follows the grid of the large floor-to-ceiling window bays. This introduces a depth to the façade on the exterior and liberates the interior from freestanding columns."
See more construction shots and renderings
Rafael Viñoly’s 432 Park Reportedly Showing Cracks in Its 1,400-Foot Facade
November 2, 2015

Rafael Viñoly’s 432 Park Reportedly Showing Cracks in Its 1,400-Foot Facade

By
Is the Western Hemisphere's tallest residential tower already experiencing some construction defects? According to a recent blog post by real estate author Michael Gross (h/t Curbed), 432 Park Avenue is showing signs of wear. Gross writes that "Two unconnected sources confirm that the architectural concrete that covers the poured concrete tower has already developed cracks, and that scaffolds hanging from the pillar in recent weeks were there because Nicholson Galloway, a top masonry restoration company, was hired to coat the structure with some 'nasty stuff,' as one of those sources puts it, called Silane that will seal those fissures."
find out more
November 2, 2015

Upper East Side Townhouse by Modernist Pioneer William Lescaze Sells for $16M

By
After five long years on the market, the William Lescaze-designed townhouse at 32 East 74th Street on the Upper East Side has found a buyer, according to Curbed. As 6sqft previously reported, Lescaze was a Swiss-born, American architect who is credited with pioneering modernism in America. His personal Midtown East townhouse (the William Lescaze House) is considered the first modernist residence in New York City, built just one year prior to this 1934 uptown commission. The Upper East Side house sold for $12 million in 2008. Starting two years later, it's been on and off the market, ranging from $14 million to $19.5 million, but finally went into contract last week for $15.9 million.
More details ahead
Listings Launch for Zaha Hadid’s High Line Condos
October 30, 2015

Listings Launch for Zaha Hadid’s High Line Condos

By
Though sales launched earlier this month at Zaha Hadid's curving High Line condo building, her first commission in NYC, there were no public listings. The wait is over, though, as they've just gone live, providing long-anticipated pricing and floorplans. The eleven-story building at 520 West 28th Street in Chelsea will offer 39 two- to five-bedroom homes, all of which take advantage of the starchitect's signature swooping construction. They'll range from $4,950,000 to $50 million for the largest penthouse, but the three residences listed on Corcoran are a $6.4 million two-bedroom unit; a $9.4 million three-bedroom; and a $16 million four-bedroom.
Ogle the floorplans and renderings
Starchitect Vishaan Chakrabarti Scoops Up a $5.78M Condo at FXFowle’s 35XV

Image: Vishaan Chakrabarti image © Henry Hung Photography superimposed on a model unit image

October 29, 2015

Starchitect Vishaan Chakrabarti Scoops Up a $5.78M Condo at FXFowle’s 35XV

By
Vishaan Chakrabarti is closing out 2015 with a bang. After not only making a $4.995 million sale on his Flatiron loft earlier this month but also leaving his position at SHoP Architects to start his own firm, Partnership for Architecture and Urbanism (PAU), the starchitect has just closed on a $5.78 million unit a FXFowle's dramatic Flatiron tower, 35XV. According to the Post, Chakrabarti's new pad measures just slightly smaller than his last at 2,324 square feet, but hosts three spacious bedrooms, each with en suite baths, and comes outfitted with a Lutron home automation system that includes touch-pads, remote controlled shades, lighting systems and temperature control.
Check out the floorplan here
VIDEO: Watch My Micro NY Get Built and Go Inside a Completed Unit
October 28, 2015

VIDEO: Watch My Micro NY Get Built and Go Inside a Completed Unit

By
6sqft reported in July that My Micro NY, the city’s first micro apartment complex, was fully stacked, reaching its 120-foot height at 335 East 27th Street on the border of Gramercy and Kips Bay. Then, just last month, it was announced that the $17 million development began accepting applications for its 260- to 360-square-foot affordable studios. Up until now, though, we've only seen renderings of the interiors, but a new trailer from the designers nArchitects takes us on a walk through of a completed unit (h/t Curbed), which, although tiny, is quite bright. The video also shows the entire construction process, beginning with fabrication at the Navy Yard to the units being stacked by crane.
Watch the video here
Two New Handel-Designed Towers to Sail Onto the Greenpoint Landing Waterfront
October 28, 2015

Two New Handel-Designed Towers to Sail Onto the Greenpoint Landing Waterfront

By
Yesterday it was announced that Brookfield Property Partners is making their first Brooklyn venture by purchasing a majority stake in two Greenpoint Landing development sites for $59.7 million. While better known for their commercial ventures, Brookfield will begin construction early next year on 775 market-rate apartments on two waterfront parcels. The towers should be finished sometime in 2019 at the total cost of $600 million as part of the first phases of the of the 22-acre master plan which is being designed by Handel Architects. Plans filed with the Department of Buildings for Brookfield's sites call for a 30-story, 372-unit rental building at 37 Blue Slip and a larger 39-story, 401-unit tower at 41 Blue Slip. A cul-de-sac will separate the slab-shaped towers, which will open onto a waterfront esplanade designed by James Corner Field Operations.
More renderings right this way
Pitch a story icon

Pitch a Story

We love to hear from you!

"*" indicates required fields

Interested in seeing the property in person?

It’s free, with no obligation.

CityRealty Logo

"*" indicates required fields

or Call (212) 755-5544

Interested in seeing the property in person?

It’s free, with no obligation.

CityRealty Logo

Distinctive Post Form

"*" indicates required fields

or Call (212) 755-5544
Contact us image

Get in Touch

We love to hear from you!

"*" indicates required fields

Send us a tip image
Delivering New York stories focused on design, lifestyle & real estate.

Send us a Tip

We love to hear from you!

"*" indicates required fields

Interesting in learning more about purchasing a new home?

Let us know what you are looking for and we’ll help you find the home of your dreams. It’s free, with no obligation.

CityRealty Logo
or Call (212) 755-5544

Thinking about selling your home?

We’ll provide current market comps and connect you with a trusted expert.

CityRealty Logo

Sell a Home (Footer)

"*" indicates required fields

or Call (212) 755-5544

Before You Move On
from this Page.

Subscribe for NYC's Lastest Design, Lifestyle,
and Real Estate Trends!

No Worries. We Don’t Spam.

By providing your email address, you agree to our Terms of Use and Privacy Policy.
You can unsubscribe at any time.

Your Daily Dose
of NYC Life!

No Worries. We Don’t Spam.

By providing your email address, you agree to our Terms of Use and Privacy Policy.
You can unsubscribe at any time.