Real Estate Trends

The last record store on St. Mark’s Place will shutter. [EV Grieve] Can you negotiate with your landlord when you’re about to get a rent hike? [Brick Underground] How Frank Gehry got his start—and to where he is now. [Bloomberg] The tallest building outside of Manhattan will be mostly rental units. [TRD]

Real Estate Trends

September 21, 2015

Units Finally Hit the Market at Jean Nouvel’s MoMA Tower

The time has finally come. After years of setbacks and teasers, units at Jean Nouvel's 1,050-foot-tall MoMA Tower, now officially known as 53W53, have hit the market. Nine listings (out of 139) went up on Corcoran, according to Curbed, ranging from a $3.17 million one-bedroom 19th-floor unit to a $50.9 million four-bedroom, 63rd-floor unit. When construction started earlier this year, rumor had it that the listings wouldn't be made public, but now that we know otherwise, we've got plenty of floorplan porn to ogle, as well as lots more interior renderings courtesy of designer Thierry Despont.
Renderings and floorplans right this way

September 18, 2015

Nets Rookie Shares a NJ Apartment With Two Roommates Because He Can’t Afford NY Rents

You aren't going to sucker Nets rookie Rondae Hollis-Jefferson into shelling out thousands and thousands a month just for a NYC zip code. As the Journal writes, the 20-year-old has called the city's rents "ridiculous," and even though he's earning $1.33 million for his first year with the NBA team, he'd rather have roommates than blow all that cash on an apartment.
more on what the Nets Rookie said here

September 18, 2015

Alec Baldwin Sells One of His Devonshire House Apartments for $2.1M

We've started to wonder what ever happened to Alec Baldwin's grand exit from NYC (remember that NY Mag article/tirade?), but city records released today show he's finally sold one of his Devonshire House apartments, so perhaps his move to LA has commenced. Baldwin owns a penthouse in the Greenwich Village building, a unit next door, and the recently unloaded eighth-floor one bedroom. He bought this last unit in 2013 for $2.25 million, listed it in March for $2.35 million, but only sold it for $2.1 million (maybe he really wants to get out of here).
See more of Baldwin's pad

September 18, 2015

A Hip, Modern Condo at Greenpoint’s Pencil Factory is Asking $800K

By Emily Nonko

Does it get anymore Brooklyn than this? A new development condo designed to look like a loft, outfitted with bookshelves, deer heads, and reclaimed wood furniture. The apartment in question comes from The Pencil Factory lofts, a former pencil factory turned condo development at 122 West Street in Greenpoint. Cool location, cool building, cool apartment—it's going to cost you a cool $800,000 for this one-bedroom unit.
See more

September 18, 2015

SHoP Architects Are Bringing a Wooden Condo Building to Chelsea

In March, an Austrian architecture firm announced plans to build the world's tallest wooden skyscraper in Vienna. They noted that by using wood as opposed to concrete they'd save 3,086 tons of CO2 emissions. Then, a study showed that timber buildings actually cost less to build. These benefits really must have stuck with SHoP Architects, who are developing plans for a ten-story residential building in Chelsea, overlooking the High Line at 475 West 18th Street, that will be made entirely of wood, according to the Wall Street Journal. SHoP's project came via a competition hosted by the United States Department of Agriculture, in partnership with the Softwood Lumber Board and the Binational Softwood Lumber Council, that asked architecture firms to design buildings at least 80 feet tall that employed wood construction technologies. SHoP's design, dubbed 475 West, won the competition along with a 12-story building in Portland. The firms will split a $3 million prize to "embark on the exploratory phase of their projects, including the research and development necessary to utilize engineered wood products in high-rise construction."
More on the project here

September 17, 2015

This Nomad Loft Was Created With Curbside Finds, Elbow Grease and an Eye for Beauty

By Michelle Cohen

There was a time in NYC when there wasn't an expectation that an apartment or loft come with a full set of shiny new appliances and amenities; you could carve out a space for yourself over time, and end up with a beautiful, unique and comfortable home. That's about the time–1977, to be exact–when the owners of this cool and crafty Nomad loft, then a recent co-op conversion, bought it for $50,000 and moved in. Now this large two-bedroom 12th floor loft with a private terrace is on the rental market for $8,000 a month. The owners–she was an art historian who passed away about a year ago, he's a retired biophysicist–and their daughter had always been fond of the excitement of scavenging what others left behind–like a six-burner restaurant stove and what is now a veritable jungle of plants. The building had been used for light manufacturing, and the couple had to design the entire 1,620-square-foot space to make it a home. Since the space was completely raw, they could configure it any way they pleased. The loft was featured in a 2006 article in the Times, in which the home's late owner and main design force is described as having "a gimlet eye for the gorgeous."
Take a look around, this way...

September 17, 2015

How Two Women Live Comfortably in 350 Square Feet; NYC’s Leaning Tower of Pisa?

Residents of Chinatown and Little Italy want Historical District signs. The area received designation from the National Register of Historic Places nearly six years ago, yet no street signs have been updated to reflect such. [BB] Help get the 42nd Street theaters landmarked. [DNA Info] SHoP Architects First Avenue project is also taking shape. The building’s subtle […]

Real Estate Trends

September 17, 2015

First Renderings of Moshe Safdie’s 800-Foot Bancroft Building Replacement Revealed

Plans for the Bancroft Building have been ultra-hush with much speculation swirling around the design that would ultimately replace the recently demolished, and much beloved, landmark building. But now, the NY Post has the first official rendering of the luxury condo tower that could rise in place of the historic structure located on a block-through site between West 29th and West 30th streets. Though 6sqft was previously told by reps of the development that the rendering seen here was in no way an affiliated project, the two designs do remain visually similar.
more details here

Mats Zuccarello Is Second NY Rangers Player This Week to Scoop Up a Downtown Condo

We're not sure how "the Rags" are going to do on the ice this year, but they sure will have some nice digs to come home to. Just yesterday, we learned that New York Rangers center Derick Brassard scored a $4.1 million condo at One York Street in Tribeca. And today, the Observer reports that the team's right wing, and perhaps THE fan favorite, Mats Zuccarello has picked up a $3.15 million pad at 345 West 14th Street in the Meatpacking District. Zucc's new condo is spread out over 1,228 square feet and offers two bedrooms, views of Gansevoort Square, and high-end finishes.
Have a look around

September 16, 2015

POLL: Is Brooklyn Heading Into a Housing Glut?

Over the last year, building permits have risen by 156 percent, hitting levels not seen since 1963. And this percentage rises to 749 when compared with the 2010 post-slump low. This building boom is particularly rampant in Brooklyn, where, according to a report put out last month by CityRealty, northern Brooklyn alone will get 22,000 new […]

Real Estate Trends

September 16, 2015

NY Rangers Star Derick Brassard Scores a $4M Tribeca Condo

The Real Deal reports that New York Rangers center Derick Brassard has scored a $4.1 million condo at One York Street in Tribeca. The French-Canadian hockey star signed a $25 million, five-year contract extension with the Blueshirts last year, so it looks like this sprawling downtown pad is a celebratory gift to himself. The 1,670-square-foot, two-bedroom apartment boasts 14-foot ceilings, wide oak wood floors, motorized shades, and 200 square feet of outdoor space. The seller is interior designer Sterling McDavid, who bought the sixth-floor unit for $3.4 million in 2011.
Take a look around

September 16, 2015

Trader Joe’s to Open in Downtown Brooklyn’s City Point; REBNY Landmarking Report Flawed Says Data Source

Trader Joe’s has officially inked a 13,700-square-foot lease at the 1.9-million-square-foot site at City Point. It’s scheduled to open in 2016. [City Point; 6sqft inbox] Here are the before and afters of the numerous towers going up in Queens. [Rent Cafe] Red Hook’s upcoming massive waterfront tech campus has gotten an updated design. [Curbed] Airbnb […]

Real Estate Trends

September 16, 2015

Actress Kathleen Turner Sells Trump Place Condo for $3.8M

You know you're a star when you have a neon sign of your name hanging above your desk. The great actress, activist, and stage director Kathleen Turner has parted ways with her 200 Riverside Boulevard condo, selling it for $3.8 million according to city records released today. Turner bought the Trump Place pad in 2003 for $2.3 million. The three-bedroom, 2,086-square-foot Upper West Side home offers incredible views of Central Park, the Hudson River, and Manhattan skyline. A special feature is the custom solid cherry wood doors and cherry wood built-ins throughout. And while we love Ms. Turner on the stage and in film, we must admit we're not quite as impressed with her design aesthetic.
Look around here

September 15, 2015

Obama No Longer Staying at the Waldorf Astoria; 32nd Street Plaza to be Cleared of Homeless for Pope

Obama is no longer staying at the Waldorf Astoria, purportedly because of China’s Anbang Insurance Group’s takeover of the hotel. [Guardian] The city’s office building boom still isn’t enough to meet demand. [Crain’s] The homeless will be cleared from an area near the 32nd Street plaza between Penn Station and Herald Square in anticipation of the Pope’s arrival. [NYP] Brokerage […]

Real Estate Trends

New Report Says Landmarked Districts Don’t Protect Affordable Housing

Historic brownstones in Brooklyn Heights via City Realty

September 15, 2015

New Report Says Landmarked Districts Don’t Protect Affordable Housing

The war wages on between the Real Estate Board of New York (REBNY) and citywide preservationists. Many thought the contention between the groups over whether or not historic districts lessen affordable housing was a personal sentiment of former REBNY president Steven Spinola. But his successor John Banks has released a new report that claims landmarking doesn't protect affordable housing. The report looks at the number of rent-stabilized units in landmarked and non-landmarked districts between 2007 and 2014, finding that "citywide, landmarked properties lost rent stabilized units (-22.5%) at a much higher rate (-5.1%) than non-landmarked properties." Of course preservationists quickly fired back. Andrew Berman, executive director of the Greenwich Village Society for Historic Preservation (GVSHP) calls the study "bogus" and says it does nothing to address how many units would have been lost had these areas not been landmarked.
More on the report

September 14, 2015

Will Brooklyn Soon See a Slowdown?; Smorgasburg and BK Flea Are Moving to Sunset Park

New NY rulings say that your apartment might be rent-stabilized after all. Brick Underground has the details. [BU] Office rents being paid at 425 Park Avenue could be the highest in history at $300 per square foot. [Crain’s] Real estate experts are warning about a possible housing glut in Brooklyn. [WSJ] Here are some places where you […]

Real Estate Trends

New Renderings of Vinoly’s 125 Greenwich Street, Downtown’s Future Tallest Residential Skyscraper

Rendering by ArX Solutions

September 11, 2015

New Renderings of Vinoly’s 125 Greenwich Street, Downtown’s Future Tallest Residential Skyscraper

By Ondel Hylton

On the 14th anniversary of the day that caused the city to question our skyward building ambitions, we give you a new look at lower Manhattan's future tallest apartment tower, 125 Greenwich Street. Not only has the city regained its confidence in building high again, but it has now been feverishly erecting 1,000-plus-foot supertall towers at a faster rate than nearly any other global metropolis. This particular residential spire will soar 77 stories and roughly 1,100 feet high, some 200 feet taller than downtown's next tallest ground-up residential buildings, 30 Park Place (937 feet) and New York by Gehry (870 feet).
Find out more here

September 10, 2015

Bushwick Gets Cheaper; Interview With 9/11 Memorial Designer Michael Arad

Bushwick rents have dropped 16 percent as new apartments have been added to the market. [DNA Info] With retail rents rising across the city, shop owners are increasingly considering the second floor to sell their wares. [Crain’s] Four top NYC hotels are heading to the auction block. [NYDN] Meet the designer who dreamt up the National […]

Real Estate Trends

September 10, 2015

Jon Bon Jovi Scoops Up a 10-Room Village Condo for $12.9M

By Ondel Hylton and Heather Cooper Vivares

It looks like Jon Bon Jovi has no plans on leaving New York behind. After finally unloading his $34 million Soho penthouse earlier this year, according to the Observer, the rocker has just paid $12.88 million for a sprawling ten-room apartment at the brand new 150 Charles Street in the West Village. There are no photos of the […]

September 10, 2015

Construction Update: Related Companies’ Rental Tower at Hudson Yards’ Front Door Begins to Rise

Related Companies' new mixed-use rental tower at the front door of Hudson Yards is forging ahead. Located at 530 West 30th Street, just south of the towering Coach Tower (10 Hudson Yards) and west of the recently finished Abington House (also developed by Related), the 28-story building will bring 174 new rental homes to the rapidly evolving neighborhood. 530 West 30th shares its lot with 529 West 29th Street, an all-affordable, 126-unit building Related opened last year with apartments set aside for artists, seniors, and local residents of Community District 4.
More details

REVEALED: First Look at 1399 Park Avenue, 23-Story Tower Coming to East Harlem

Google Streetview of buildings that previously stood at the site (L); Rendering of the new building via Goldstein Hill & West Architects (R)

September 9, 2015

REVEALED: First Look at 1399 Park Avenue, 23-Story Tower Coming to East Harlem

By Ondel Hylton

Here's our first look at Heritage Real Estate Partners' 23-story, 108-unit residential building underway at 1399 Park Avenue in East Harlem. Designed by Goldstein Hill & West Architects (GHWA), the 253-foot tall, glass and cast-stone tower is expressed as a stack of variably-sized, staggered volumes creating numerous terraces that face north towards the East River and west towards Central Park. Fittingly, Heritage has filed permits under the alias "Heritage on the Park LLC," possibly hinting at the official name for the tower.
More details ahead

September 9, 2015

Norah Jones Is Buyer of $6.25M ‘Eat, Pray, Love’ Carriage House in Cobble Hill

We knew in May that the famous Cobble Hill carriage house from the Julia Roberts movie "Eat, Pray, Love" had found a buyer at $6.25 million. But now the Daily News is reporting that this mystery buyer is Norah Jones, who purchased the historic home under an LLC. The singer is no stranger to the neighborhood; she also owns a house around the corner at 166 Amity Street, which she bought in 2009 for $4.9 million. Her new converted 1840s fire house comes complete with a magical secret garden, a glassy greenhouse, second-floor terrace, and giant exposed wood beams.
Take a tour of the unique home

September 8, 2015

Hedge Fund Tycoon May Be the Buyer of $200M Penthouse at 220 Central Park South