Real Estate Trends

Concept studies by the design firm SRA Architecture + Engineering (SRAA+E) reveal that an existing five-story commercial building in Downtown Brooklyn may be redeveloped into a dramatic retail and condominium tower. The prominent 19,000-square-foot, triangular site at 205 Montague Street is located at the gateway of Brooklyn Heights and currently holds a 1960s-era marble and glass office-retail building that was picked up by Joseph Cayre's Midtown Equities back in 2010. In 2012, the development firm filed permits doubling the building's size, envisioning a 100-unit residence that would convert the structure's three upper levels into apartments and add another six stories above. The permits, also filed by SRAA+E, were never approved, but in 2012 an insider told the Brooklyn Eagle, “an awful lot more can be built than what's in the Buildings Department plans." Midtown Equities, who is also busy rebuilding the Empire Stores in Brooklyn Bridge Park, could not be reached for comment.
Find out more about this possible project

Rendering of the revamped Tin Building via SHoP Architects

September 8, 2015

New South Street Seaport Will Be the City’s Next Foodie Destination by 2017

By Ondel Hylton and Heather Cooper Vivares

Perhaps spearheaded by the Smorgasburg foodie culture, putting multiple local food vendors in one place has become a recipe for success in NYC development projects. There's the Hudson Eats food hall at office-filled Brookfield Place, the forthcoming food court by Anthony Bourdain at Pier 57, Danny Meyer's possible giant food hall at Hudson Yards, the 55-vendor Dekalb Market Hall planned for Downtown Brooklyn's City Point, and the food hall at Sunset Park's Industry City, to name just a few. So it comes as no surprise that the South Street Seaport redevelopment will boast not one, but two massive food halls. The Post reports that none other than three Michelin-starred chef Jean-Georges Vongerichten (ABC Kitchen, the Mercer Kitchen, and JoJo are just a few of his famed restaurants) will be spearheading the foodie revolution at the Howard Hughes Corporation's $1.5 billion mega-development. According to the paper, "The great chef and his business partner Phil Suarez have signed a lease/partnership contract with NYSE-listed Hughes to launch two major Seaport projects — a 40,000 square-foot, seafood-themed marketplace inside the Tin Building and a 10,000 square-foot restaurant in a rebuilt Pier 17." Both are expected to open in 2017.
Find out more right here

September 8, 2015

First Look at the Gibraltar, Newest Addition to the Greenpoint Waterfront

By Heather Cooper Vivares

Another residential building has been called to join the ranks of the Greenpoint waterfront. Located at 160 West Street, the six-story condo is known as the Gibraltar. Permits filed a year ago claimed 13 apartments and 16,198 square feet, but according to developer Saddle Rock Equities, it will house 14 apartments over 20,000 square feet. Designed by architect Joe Eisner, the bulky grey building stands out for its oversized balconies and abundance of rooftop space.
More on the development and new renderings

First Look at Rawlings Architects’ 20-Story Mixed-Use Murray Hill Building

Elevation of the new building (L); the current site (R)

September 6, 2015

First Look at Rawlings Architects’ 20-Story Mixed-Use Murray Hill Building

Charles Blaichman’s CB Developers have begun construction on a 20-story mixed-use building directly adjacent to their nearly finished rental tower the Frontier. Located at 210 East 39th Street, the building is designed by Rawlings Architects in conjunction with the grey metal and glass Frontier next door. The project is replacing a small townhouse owned by the Kingdom of Lesotho; the small African country contributed its property as a joint venture with the developers, and they will receive a commercial unit within the building's lower three floors to use as a mission.
More details ahead

September 3, 2015

Law & Order’s Christopher Meloni Sells Midtown Apartment; NY’s Top 10 Building Sales

Karim Rashid‘s former Chelsea townhouse is getting a glamorous update that involves no neon. [NYP] Law & Order star Chris Meloni has finally unloaded his Midtown apartment. The unit at the Park Imperial has been on the market for more than three years. [NYDN] The top ten NY buildings to fetch top dollar. [TRD] Forget […]

Real Estate Trends

Image via Field Condition

September 3, 2015

Leaks and Alignment Issues Plaguing Atlantic Yards’ B2 Tower Were More Severe Than Reported

When it was announced that Brooklyn would be host to the world's tallest prefab tower, many believed that a new era of construction was upon us. Called the B2 Tower, the building would rise as stacked 32-story structure, affording all the perks of a conventional edifice, but be quick and inexpensive to build. But as it has been well-documented, the project, announced way back in 2012, has been a major flop. Stricken with delays and countless lawsuits flying left and right, the building today has only reached about half of its height. So where did things go so wrong? A fascinating piece by the Atlantic Yards/Pacific Park Report's Norman Oder on City Limits provides some incredible insight into the project that has failed to deliver on just about every promise put forward.
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Village Green West, Alfa Development’s Chelsea Condominium, Nears Completion

Rendering via Alfa Development and Kutnicki Bernstein Architects (L); Current construction shot via CityRealty (R)

September 3, 2015

Village Green West, Alfa Development’s Chelsea Condominium, Nears Completion

The finishing touches are being applied to Alfa Development's environmentally sensitive and industrially evocative condominium Village Green West. According to CityRealty, only two if its 27 units are are currently up for grabs, with at least 18 already in contract. Alfa's 12-story mid-block building is centrally positioned at 245 West 14th Street, between Seventh and Eighth Avenues at the crossroads of Chelsea, the West Village, and the Meatpacking District. The Michael Namer-led development team purchased the 5,200-square-foot development site in 2012 for $14.65 million.
More details on the project here

September 3, 2015

Four-Floor Stunner with a ‘Secret Garden’ Asks $11,000 a Month in Fort Greene

By Emily Nonko

Here is Brooklyn brownstone living at its finest. The historic 1880s townhouse at 139 South Oxford Street, located in the very brownstone-heavy neighborhood of Fort Greene, is a good blend of historic details and modern conveniences. It's got a very special landscaped backyard, a renovated kitchen, and a staircase to die for. It's split up as a two-family home, and the upper four floors are now on the rental market asking $11,000 a month. That's nearly 3,000 square feet of living space, with four bedrooms, two full bathrooms, two half bathrooms and even additional basement storage! That's a lot of brownstone goodness right there.
See it all

Liza Minnelli Makes an $8.4M Sale on Her Upper East Side Apartment

Image courtesy of Tim Macdonald

September 2, 2015

Liza Minnelli Makes an $8.4M Sale on Her Upper East Side Apartment

And it is indeed all that jazz. Legendary actress and singer Liza Minnelli has just sold her co-op at the Imperial House at 150 East 69th Street, reports The Real Deal. City records filed yesterday afternoon show that the star struck an $8.372 million deal with New York socialites Robert Beyer and Loren Pack. The 21st floor showstopper was designed by Timothy Macdonald, who created a tranquil and versatile living environment for Minnelli that could easily be reconfigured for entertaining. The apartment's walls are also adorned with plenty of Broadway memorabilia and an incredible Andy Warhol tribute to her mother, Judy Garland.
more inside minnelli's home here

Andy Rooney’s Apartment Sells for $2.23M; Why Trump Is a Great Developer

Even if he doesn’t become president, Trump remains a great NY developer. [NYP] The late Andy Rooney’s UWS apartment has finally sold for $2.385M, below ask. [WSJ] New views of the South Street Seaport’s 60-story condo building. [Curbed] East Harlem residents put pressure on NYCHA to remove toxic mold at the Clinton Houses. [DNA Info] […]

Real Estate Trends

September 2, 2015

POLL: Would You Apply for an ‘Affordable’ $1,500/Month Studio in My Micro NY?

Yesterday, we reported that My Micro NY, the city’s first micro apartment complex, was accepting applications for its affordable units, which account for 22 of the building’s 55 studios. Located at 335 East 27th Street on the border of Gramercy and Kips Bay, the building has units that range in size from 260 to 360 square feet. One person […]

September 1, 2015

NYC’s First Micro Apartment Complex Now Accepting Applications, Units $950/Month

We knew this day was quickly approaching; just a couple of months ago, we reported that My Micro NY (also known as Carmel Place), 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. Now, Brick Underground reports that the $17 million development began accepting applications this morning for its 260- to 360-square-foot affordable studios. According to the site, the available units are "11 $950/month studios for one person earning between $34,526 and $48,350, or two people making between $34,526 and $55,250; and three $1,492/month studios for one person making between $53,109 and $78,650, or two people making between $53,109 and $89,830."
Find out how to apply here

September 1, 2015

Modern Two-Bedroom in Williamsburg Comes With a Dreamy Outdoor Space

By Emily Nonko

If you're on the hunt for a modern condo unit (and aren't shopping on a strict budget), Williamsburg is one Brooklyn neighborhood that is full of them. Here's the top-floor unit at 317 South 4th Street, a boutique condo with four total units—a two-bedroom, two-bathroom on the market for $1.45 million. The floor-through apartment has all modern finishes, lots of glass, a private balcony and even a 700-square-foot roof garden.
See more of it

September 1, 2015

Live in the City’s First Crowdfunded Condo Tower; Staten Island Making Million Dollar Penthouse Sales

There’s a new app available that connects individuals with professional movers with half-empty trucks. [AT] Units at Manhattan’s first crowdfunded condo building will soon hit the market. [Bloomberg] Spike Lee officially unveiled Do The Right Thing Way in Bed-Stuy on Saturday. [BKPaper] Has Staten Island finally arrived? A slew of $1+ million sales reveal increasing interest […]

Real Estate Trends

September 1, 2015

Building Permits Decline by 90 Percent Following Changes to the 421-a Program

Early last month, we reported that building permits were soaring to levels not seen since the 1960s. Now Crain's tells us that the trend has taken a sharp decline with permits plunging a whopping 90 percent from June. The numbers, which were pulled from the latest stats released by the U.S. Census Bureau, point to changes in the very generous tax breaks provided by the 421-a tax abatement program as the culprit.
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August 31, 2015

Real Estate Dating Deal Breakers; Our Dangerous Love Affair with Fire Escapes

New Yorkers reveal their real estate dating deal breakers on camera. [BrickUnderground] “A fire escape should be an escape from fire; it shouldn’t be an escape from reality.” [NYT] Apartment hunting grief in five stages. [CityLab] The glass at the peak of the Empire State Building is being replaced. [WSJ] Images: Subway map (L); Fire […]

Real Estate Trends

August 31, 2015

Revealed: Floor Plans and Pricing for Jean Nouvel’s MoMA Tower

After progress crept along for nearly ten years, Jean Nouvel's highly anticipated MoMA Tower, officially known as 53W53, is now inching closer to the finish line. A year ago we got a peak at unofficial penthouse floorplans, and the first interior renderings were revealed in February, followed by a pre-sales-launch video of the interiors in May. Now, the Post has uncovered floorplans and pricing for three of the units in the 1,050-foot, 82-story asymmetrical tower. They include a 3,846-square-foot, 55th-floor three-bedroom asking $21.7 million; a smaller 55th-floor three-bedroom for $14.42 million; and a 4,362-square-foot, 72nd-floor three-bedroom duplex going for $39.2 million.
More floorplans and pricing

August 28, 2015

OKCupid Co-Founder Picks Up a Greenpoint Townhouse for $2.12M

By Annie Doge

A co-founder of everybody's favorite dating site OKCupid has just scooped up a sweet townhouse at 925 Lorimer Street in Greenpoint, according to property records just released. Christian Rudder—now a budding musician and father—was listed alongside his Bishop Allen bandmate Michael Tapper (also of We Are Scientists fame) on the sale. The home, which is described as "3,400 square feet of endless opportunities" is sure to offer the pair and their friends a "typical Friday night" that's anything but typical.
Have a closer look inside here

August 28, 2015

New Renderings of Fisher Brothers’ Curvy Murray Hill Rental at 225 East 39th Street

It's always a pleasure when a hulking above-ground parking garage bites the dust; this is not Miami after all, take the subway! And thanks to the legendary real estate firm Fisher Brothers, a soul-crushing 705-car parking garage at 225 East 39th Street was razed last year in preparation for an elegant 36-story rental tower. New renderings posted on the development firm's website illustrate how the tower may bring a bit of pizzazz to a rather un-glamorous section of Murray Hill. With completion scheduled for spring 2017, groundwork is well underway with sections of the foundation slab poured and steel rebar projecting skyward.
More on the project ahead

August 27, 2015

How to Deal with a Break-Up When You Share Real Estate; Penthouse Sale in Williamsburg Sets a Record

Things that you shouldn’t waste your money on. [BI] Dealing with a break-up in NYC when you share a home with your partner. [BU] The city will spend $100M to stormproof lower Manhattan. [NYDN] A $6.5M penthouse sale at the Oosten has set a record for Williamsburg. [Curbed] Bill Ackman—a.k.a. the owner of NYC’s second most expensive […]

Real Estate Trends

August 27, 2015

Construction Update: Loggia-Crowned Condominium Finally Rises Next to Bryant Park

Bryant Park is one of the city's most cherished spaces, providing a much-needed oasis from the stone and glass canyons of Midtown. But debuting in 2017, a mixed-use tower will grant home buyers their first opportunity to purchase condos directly alongside the ten-acre respite. Simply named the Bryant, the 200,000-square-foot building at 16 West 40th Street will house 57 condo units perched 200 feet above a five-star boutique hotel within the tower's lower levels. The 32-story, 361-foot-high building is being developed by the very-active HFZ Capital, led by Ziel Friedman, and is designed by renowned British architect David Chipperfield, with Stonehill & Taylor serving as the architects of record.
More details ahead

August 26, 2015

Saudi Prince Is New Owner of Joan Rivers’ Lavish Penthouse, Will Undertake a Gut Renovation

By Annie Doge

Initial reports told us that Joan Rivers' opulent Upper East Side penthouse had sold for its asking price of $28 million to a Middle Eastern buyer. And now the Post confirms that the new owner is 65-year-old Saudi prince Muhammad bin Fahd. More newsworthy, though, is the fact that the prince plans to completely gut the 5,100-square-foot triplex, meaning it will lose its legendary gilded details that Rivers once called "Louis XIV meets Fred and Ginger."
Find out more

August 26, 2015

Is the U.A.E. Building a Massive Uptown Mansion?; The Priciest Cities for Singles and Families

The most expensive U.S. cities for single folks and families. [Wonkblog] Is the United Arab Emirates building a mega-mansion on the Upper East Side? The Permanent Mission of the UAE to the United Nations has just closed on two neighboring buildings worth $47.25M. [NYDN] Here’s where Red Hook and Buttermilk Channel draw their names from. [Brownstoner] The world’s […]

Real Estate Trends

August 26, 2015

Handel Architects’ Luxurious ‘Amalfi’ Condo Tower Will Now Be Swanky Senior Living Pads