Real Estate Trends

Construction Update: Perch Harlem, Manhattan’s First Passive House Rental Building, Rises
August 26, 2015

Construction Update: Perch Harlem, Manhattan’s First Passive House Rental Building, Rises

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A tipster has alerted us that Manhattan's first market-rate rental building built to passive house standards has reached street level. Dubbed Perch Harlem, the soon-to-be-seven-story structure is located in the uppermost reaches of Harlem's Hamilton Heights section at 542 West 153rd Street, between Broadway and Amsterdam Avenues. "Perched"on a ridge 150 feet above sea level, the site overlooks the bucolic grounds of Trinity Cemetery, which is the only active burial ground on the island. The project's forward-thinking developers, the Synapse Development Group with its investment partner Taurus Investment Holdings, purchased the 10,000-square-foot former parking lot back in December of 2013 and have since been growing their Perch brand of passive house buildings that focus on low-impact living and community-oriented design. A second Perch building is slated for Williamsburg at 646 Lorimer Street.
Find out more about Perch Harlem
INFOGRAPHIC: Ten Years of Trump
August 25, 2015

INFOGRAPHIC: Ten Years of Trump

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Love him or hate him, not a day goes by anymore without Donald Trump making headlines. But the Donald was turning heads and raising eyebrows long before he launched his [fill in the blank] presidential campaign. As CityRealty notes, “Over the years, Donald Trump’s buildings have commanded a premium in New York’s pricey real estate […]

Preston Scott Cohen Builds a Brilliant Upstate Home from an Old Dutch Barn
August 24, 2015

Preston Scott Cohen Builds a Brilliant Upstate Home from an Old Dutch Barn

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To create the beautiful Goodman House, architect Preston Scott Cohen had to transport, restore and re-assemble a Dutch barn frame at a new location in Pine Plains, NY. The structure affords an unpolished but warm atmosphere with open-plan interiors wrapped in an industrial skin. The space was crafted to follow the client's desire for an "excessively lit space" with an "undivided interior," and as such, the home uses an ample number of slide-up screens and roll-down glass doors to make way for an open abode with a modern aesthetic.
Learn more about this contemporary barn-home
Model Agyness Deyn’s $3.6M Former Williamsburg Loft Has a Tax Bill of Just $24 a Year
August 21, 2015

Model Agyness Deyn’s $3.6M Former Williamsburg Loft Has a Tax Bill of Just $24 a Year

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A renovated 2,911 square-foot corner loft in Williamsburg's Mill Building at 85 North 3rd Street just hit the market for $3.6 million. The spacious loft condominium with dramatic open spaces and original details is the former home of Brit model Agyness Deyn, who bought the Northside pad for $1.97 million in 2008 and sold it in 2012 for $2.175M. New owners have given it a rustic-luxe update and hope to keep the upward trend going, with a current ask of $3.65 million. An expensive loft in the 'burg wouldn't faze us, (and the building has an impressive menu of amenities–doorman, garage, roof deck–for a loft), but the tax bill was a shocker: Taxes on the pricy pad are a mere–as per the listing–"unheard-of $24 a year," due to a J-51 exemption and tax abatement in effect until 2025.
Find out why the taxes are so low
City Defends Supertalls, Won’t Limit Size of Midtown Towers
August 20, 2015

City Defends Supertalls, Won’t Limit Size of Midtown Towers

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The Department of City Planning announced that although it shares residents' concerns about the effects of the new crop of supertall towers rising near Central Park, it does not intend to lower the size limits on buildings in the dense Midtown district. Crain's reports that department director Carl Weisbrod said in a written response to elected officials on August 12 that the slender structures may actually preserve historic buildings nearby and that they enhance the city's iconic skyline.
Read more on the city's response
New Board Game Lets You Raze and Rebuild NY; Citywide Ferry Service Plan to Be Presented Tonight
August 20, 2015

New Board Game Lets You Raze and Rebuild NY; Citywide Ferry Service Plan to Be Presented Tonight

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The de Blasio administration is renegotiating the terms of the redevelopment of Willets Point, Queens. [Crain’s] Why some billionaires are bad for growth. [Wonkblog] Billionaire Ken Griffin may be buying a 220 Central Park South pad. [NYP] The mysterious cottage atop an East Village building is now in contract. [Curbed] For a good time with friends and family try […]

REVEALED: Bland Apartment Tower Replaces Karl Fischer’s Indigo Hotel Design in Downtown Brooklyn
August 19, 2015

REVEALED: Bland Apartment Tower Replaces Karl Fischer’s Indigo Hotel Design in Downtown Brooklyn

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Yesterday, we reported a staggering 22,000 residential units are on their way to the northern end of Brooklyn by 2019, 6,412 (29 percent) of which are slated for the half-square mile neighborhood of Downtown Brooklyn. Now, we have our first look at a small chunk of that count: a 105-unit residential building under construction at 237 Duffield Street, in the heart of the borough's central hub.
Find out more here
Supermodel and Daughter of Zipcar Founder, Cameron Russell Scoops Up a $1.5M Bed-Stuy Townhouse
August 19, 2015

Supermodel and Daughter of Zipcar Founder, Cameron Russell Scoops Up a $1.5M Bed-Stuy Townhouse

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Victoria's Secret model, TED Talk speaker, burgeoning media mogul and daughter of Zipcar founder Robin Chase, Cameron Russell has just scored herself a cover-worthy townhouse in Stuyvesant Heights. According to city records filed this afternoon, the model dropped $1.522 million on the home, paying a tad more than the original ask of $1.45 million. Featured on 6sqft previously, the three-story, multi-family property was given an update back in 2011 and boasts high-end renovations, beautifully restored details and all the Brooklyn brownstone charm one could ask for. There's even a solar array topping off the structure and a large garden to boot!
Have a closer look inside
22,000 New Apartments Coming to Northern Brooklyn by 2019

Google Earth rendering of the new residential buildings going up in Downtown Brooklyn, via CityRealty

August 18, 2015

22,000 New Apartments Coming to Northern Brooklyn by 2019

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We recently reported that New York City was entering its biggest building boom since 1963. Building permits rose 156 percent over the last year, accounting for 52,618 new residential units. If that number seems large to you, keep in mind it's spread over the five boroughs, including the supertall towers of Manhattan. But a new report from CityRealty shows that northern Brooklyn alone with get 22,000 new apartments over the next four years. According to the report, which only looked at buildings with 20 or more units, "around 2,700 new units are expected to be delivered in 2015. That number will nearly double in 2016, when approximately 5,000 apartments will be ready for occupancy." The majority of these units, 29 percent or 6,412 apartments, will come to Downtown Brooklyn, followed by Williamsburg with 20 percent or 4,341 units.
More on the Brooklyn building boom
The Final Design of Extell’s Nordstrom Tower Still Undecided
August 18, 2015

The Final Design of Extell’s Nordstrom Tower Still Undecided

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Back in May it was reported that the official rendering for Extell's Nordstrom Tower—a.k.a. Central Park Tower, a.k.a. NYC and the country's future tallest tower (by roof height)—had finally been released by the developer, showing a glassy construction rising 1,523 feet from its 217 West 57th Street address. But now comes news from The Post's Steve Cuozzo that the tower's final design is actually "still up in the air."
Find out more here
August 18, 2015

Donald Trump Reports for Jury Duty; Did Louis C.K. Come to Mayor de Blasio’s Defense?

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Here’s a hilarious (and somewhat poetic) account of what went down when Donald Trump was called into jury duty this week. “He listed his occupation as ‘real estate’.” [NYT] A caller who sounded a lot like comedian Louis C.K. dialed into “The Brian Lehrer Show” this morning to defend Mayor Bill de Blasio. He identified himself as “Louis in the Village.” [Politico] […]

New 15-Story Passive House Condo May Be Coming to 128 West 23rd Street
August 18, 2015

New 15-Story Passive House Condo May Be Coming to 128 West 23rd Street

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A new residential building may be coming to West 23rd Street next to Citizen condos. While no new building or demolition permits have been filed for the parcel, an eco-friendly design penned by Sven Peters in collaboration with VUW Studio / CastDesignStudios visualizes the site's full zoning potential. Their 15-story conceptual design targets the "high-end, enviro-hedonist buyer," yielding a 25,000-square-foot building with 15 full-floor loft residences and ground-level commercial space. Their website notes that the project will be designed under the German Passivhaus environmental standards and will incorporate the latest advancements in energy recovery, infiltration mitigation, and air purification.
More details ahead
Soccer Star Cristiano Ronaldo Nabs $18.5M Trump Tower Loft
August 17, 2015

Soccer Star Cristiano Ronaldo Nabs $18.5M Trump Tower Loft

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If there's one name in soccer that Americans know (other than David Beckham, of course), it's Cristiano Ronaldo, the forward for Real Madrid, captain of the Portuguese national team, and multiple-time best player in the world winner. It's been rumored that the internationally-known hunk is making a move to the MLS, the United States soccer league, and a recent real estate transaction right here in NYC is fueling the fire. The Post reports that Ronaldo has scored an $18.5 million loft at the Trump Tower from Italian real estate mogul Alessandro Proto.
Check out the loft here
NeighborhoodX’s 3D Map Reveals the Blocks Where Real Estate Prices Are Soaring
August 17, 2015

NeighborhoodX’s 3D Map Reveals the Blocks Where Real Estate Prices Are Soaring

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Click for the expanded version >> We all have a pretty good idea which NYC neighborhoods command top dollar, but this incredible 3D map from NeighborhoodX really puts things into perspective by pinning the city's 325 neighborhoods against one another in a visually jarring side-by-side comparison. Among the most expensive? For Brooklyn, Gravesend beats out our best guess of DUMBO/Brooklyn Heights with its enclave of multi-million dollar, over-the-top mansions; and in Manhattan, Billionaires' Row rises as a whole other beast with prices soaring as high as its supertalls.
get a more detailed look here
FiDi’s 50 West Tops Out; Let’s Build Another Borough
August 17, 2015

FiDi’s 50 West Tops Out; Let’s Build Another Borough

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FiDi’s new luxury tower 50 West has just topped out. [6sqft inbox; Listings] Limited space? Why don’t we just build another borough? [The Awl] Soho’s mom and pop design shops want to stop the infiltration of corporate retailers. [AMNY] There’s a 19th century stable hidden in the heart of Midtown. [Scouting NY] After 30 years, […]

Construction Begins on Bushwick’s AnX Artist Lofts by Gene Kaufman
August 16, 2015

Construction Begins on Bushwick’s AnX Artist Lofts by Gene Kaufman

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Construction has begun on a cross-braced, utilitarian artists' space in the heart of Bushwick at 13 Grattan Street. According to the Wall Street Journal, after the great success of the adjacent artist production studio space The BogArt in 2005, contemporary patrons of the arts Marianne and Ted Hovivian decided to meet the growing demand for affordable work and exhibition space with a new 40,000-square-foot building. The mixed-use development will be divided between 23,000 square feet of artist lofts on the second through fourth floors and an additional 8,000 square feet of retail space on the ground floor.
More details here
Hudson Yards’ Outdoor Observation Deck Will Be the Highest in the City
August 14, 2015

Hudson Yards’ Outdoor Observation Deck Will Be the Highest in the City

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At the end of last year, we learned that 30 Hudson Yards, the 92-story tower that's part of the west side mega-development, would offer a death-defying observation deck. Initial reports said that a tilting glass walkway would jut out of the building around 1,000 feet, but a new report from the Post confirms that the actual height will be 1,100 feet. This puts it 50 feet higher than the Empire State Building's 86th-floor outdoor observation deck, making it the highest in the city. The paper also has a shiny new rendering of the deck, which will span more than 5,000 square feet and boast 360-degree views.
Find out more here
August 14, 2015

VIDEO: This Guy Pays $1,100 to Live in an 100-Square-Foot Apartment

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Madison, Wisconsin transplant Grayson Altenberg is paying $1,100 a month for a 100-square-foot apartment in a 4th-story walk-up. Yes, it’s as insane as it sounds. [Village Voice] Helping sugar daddies and their sugar babies find apartments on the hush is big business. [NYDN] A $150,000/month apartment at One57 is the city’s priciest non-hotel rental. [Curbed] The […]

Could This Honeycomb Tower Be Moshe Safdie’s Bancroft Building Replacement?
August 13, 2015

Could This Honeycomb Tower Be Moshe Safdie’s Bancroft Building Replacement?

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Images of a mysterious high-rise project have been posted on the website of Architecture Work Office, depicting a balcony-laden 50-story residential tower that balloons in area as it rises. The rendered skyscraper appears to align with a block-through development site near the corner of West 29th Street and Fifth Avenue that has been assembled by Ziel Feldman's HFZ Development. That site was purchased from the Collegiate Churches of New York in 2013 and was partially occupied by the striped brick and limestone Bancroft Building dating to 1896. Despite pleas from preservationists, the building was demolished earlier this year and has gone down as one of the city's most heart-wrenching architectural losses in recent years.
is this new tower in the works?
Rents Are Soaring Everywhere; Brooklyn and Queens Set New Records
August 13, 2015

Rents Are Soaring Everywhere; Brooklyn and Queens Set New Records

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We always hear that the summer months are the worst time to move, and the July rental report from Douglas Elliman confirms this belief, as median rental prices rose in Manhattan, Brooklyn, and Queens. Like they did in June, median Brooklyn rents set a new record, rising 4.1 percent to $2,968, just $450 less than the median Manhattan rent. If you thought you could seek refuge in Queens, you'd better go to your plan B; the borough's median rent rose 14 percent, coming in at $48 above Brooklyn, also setting a new record after several months of decline. And unlike Manhattan and Brooklyn, large apartments in Queens had higher rent increases.
More from the report
Inside Brooke Shields’ Hamptons Cottage; A NY Cabby Scores a $226/Month Chelsea Pad
August 13, 2015

Inside Brooke Shields’ Hamptons Cottage; A NY Cabby Scores a $226/Month Chelsea Pad

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Taxi driver Hamidou Guira has finagled himself a $226/month apartment at the Chelsea High Line Hotel using a little known rent regulation law. [NYP] Take a tour of Brooke Shields’ colorful and classy cottage on Long Island. [Better Homes and Gardens] Real Estate bigwig and “Shark Tank” star Barbara Corcoran is reportedly eyeing Tavern Island as her […]

Venus and Serena Williams Sell Midtown West Apartment for $2M
August 12, 2015

Venus and Serena Williams Sell Midtown West Apartment for $2M

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Just in time for the U.S. Open, superstar tennis sisters Venus and Serena Williams have sold their Midtown West apartment for $2.1 million, according to city records released today. The 1,800-square-foot loft at 28 West 38th Street is currently configured as a one-bedroom, but the wide open layout lends itself to a two- or three-bedroom setup. The sisters bought the unit in 2005 for $1,335,000, but were quoted a couple years later saying they had yet to furnish the space. And judging by the seemingly staged listing photos, they may never have gotten around to it. The buyers are Ted Wells, the criminal attorney recently hired by the NFL to investigate the "deflategate" issue, and his wife Nina Mitchell Wells, former Secretary of State of New Jersey.
See the rest of the space
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