Real Estate Trends

Film Critic Jonathan Baumbach Sells Prospect Park South Victorian for $1.8M
February 24, 2015

Film Critic Jonathan Baumbach Sells Prospect Park South Victorian for $1.8M

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Film critic and novelist Jonathan Baumbach (you may know his son, film maker Noah Baumbach, or his first wife, Village Voice critic Georgia Brown) and his wife have sold their historic Prospect Park South Victorian home for $1.8 million, according to city records released today. Built in 1901, the five-bedroom property originally hit the market back in September 2014 for $2.27 million, but decreased its price twice in just five short months.
Take a look around this classic Victorian
The U.S. Trails Behind in the Global Skyscraper Race
February 23, 2015

The U.S. Trails Behind in the Global Skyscraper Race

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New York is most certainly experiencing a skyscraper boom, but you may be surprised to find out that the number of supertalls going up in the city account for only a small percentage of what's going up globally. According to CBS News, just 20 percent of the world's towers are being built stateside, and of all the tall buildings completed last year, we had only four in the top 20 (One World Trade Center topped the list). So if we aren't number one in this race, then where is this new crop of towers creeping up?
Find out here
First Look at the Amenities in Queens’ Tallest Residential Skyscraper 28 on 28th
February 23, 2015

First Look at the Amenities in Queens’ Tallest Residential Skyscraper 28 on 28th

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In December we broke the news that 42-12 28th Street, known as 28 on 28th, in Long Island City would top out at 58 stories and 648 feet. Now, Goldstein, Hill & West's (GHWA) affiliated interior design firm, Whitehall Interiors NYC, has given us our first look at the amenities of Heatherwood Communities' upcoming rental tower. The perks include a swimming pool and attended parking garage–and they also give us a glimpse of how the units themselves may be designed. The construction site already has steel re-bar poking up above street-level, meaning the tower will soon race skyward, eventually taking its place as the tallest residential skyscraper in New York City outside of Manhattan.
Check out the renderings here
Interior Renderings Revealed for Jean Nouvel’s MoMA Tower

Interior rendering via Hayes Davidson

February 23, 2015

Interior Renderings Revealed for Jean Nouvel’s MoMA Tower

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The last time we got any insider knowledge about Jean Nouvel's MoMA Tower, known officially as 53W53, was back in September when the penthouse floor plans of the 82-story, 1,050-foot building were revealed. Now it's gotten even better with actual interior renderings surfacing courtesy of the New York Times. The rendering is accompanied by a full-scale unit model of a $10 million, two-bedroom, 32nd-floor apartment planned for the tower. Set in a Sunset Park warehouse, the mock up shows how the building's well-known zig-zag façade pattern (the "diagrid") will translate inside, which leads to tilting windows and slanted columns. These unusual architectural features will inform the interior designs of Thierry W. Despont, who has been tapped to craft the 140 condo interiors.
More details ahead
The Bovina Residence: A 19th-Century Wooden Barn Gets a 21st-Century Upgrade
February 22, 2015

The Bovina Residence: A 19th-Century Wooden Barn Gets a 21st-Century Upgrade

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Brooklyn-based Kimberly Peck gave a 19th-century barn a stylish 21st-century upgrade. To make the stunning Bovina Residence, the architect restored and relocated the old farm building to its new location in Bovina, the town that gives the home its oxen-like name. Due to the extremely cold winters in the Catskills, insulation was a primary concern, but once that was out of the way, the architect designed some stunning, eclectic interiors using plenty of reclaimed wood, which provides the house with an undeniable warmth.
Learn more about this renovated barn
Rent-Stabilized Tenant Gets Evicted for Listing His Apartment on Airbnb in a Landmark Decision

Inside the apartment. Image via Airbnb

February 20, 2015

Rent-Stabilized Tenant Gets Evicted for Listing His Apartment on Airbnb in a Landmark Decision

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If you were questioning how truly serious the city is about its beef against Airbnb, look no further than this landmark ruling to evict a rent-stabilized tenant from his ultra-luxe 450 West 42nd Street building. The Post reports that Henry Ikezi was just given the boot by a Manhattan Housing Court judge for posting his 46th-floor Hell's Kitchen apartment on the site for $649 per night, about triple what he was paying at $6,670 per month. The home's market value is upwards of $9,000.
More on the landmark case here
Anti-Gentrification Architecture; See Williamsburg as It Was in the Early ’80s
February 20, 2015

Anti-Gentrification Architecture; See Williamsburg as It Was in the Early ’80s

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Should we take note? Ugly architecture proves resilient against gentrification—at least in Amsterdam. [Failed Architecture] What did Williamsburg look like in ’80s? A 1984 documentary called Living Los Sures gives us an incredible look at the trendy neighborhood’s Latino past. [Brooklyn Magazine] Permits have been filed for a 305-unit property at 30 Sixth Avenue, part of Forest City […]

New Waldorf Astoria Owners Will Add Luxury Condos to the Iconic Hotel

image via KerSaber

February 20, 2015

New Waldorf Astoria Owners Will Add Luxury Condos to the Iconic Hotel

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Back in October, it was revealed that Hilton Worldwide Holdings, who owned the landmark Waldorf Astoria since 1972, had agreed to sell the 1,232-room hotel to the Anbang Insurance Group Co., a financial and insurance company based in Beijing, for $1.95 billion. The deal closed just last week, and now the new owners are planning to convert part of the Art Deco building into luxury condominiums. According to The Real Deal, Anbang’s chairman Wu Xiaohui recently said: "We plan to renovate the two towers into luxury residential apartments with world-class amenities and finishes to reflect its culture and social status."
More details
Modern Family’s Jesse Tyler Ferguson Buys $1.2M Gramercy Co-op
February 19, 2015

Modern Family’s Jesse Tyler Ferguson Buys $1.2M Gramercy Co-op

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Jesse Tyler Ferguson, famous for his portrayal of neurotic lawyer Mitchell Pritchett on the sitcom Modern Family, has scooped up a $1,232,500 Gramercy Park co-op with his husband Justin Mikita, according to city records released today. The one-bedroom apartment at 200 East 16th Street is pretty standard, but will still make a lovely home for the couple when Ferguson isn't in LA filming.
Check out the unit here
$300K Rental at the Surrey Hotel Is the City’s Most Expensive One-Bedroom
February 19, 2015

$300K Rental at the Surrey Hotel Is the City’s Most Expensive One-Bedroom

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Why buy a $3.6 million dollar home when you can pay the same amount of money to live in a modest one-bedroom for a year? The latest unit to join the city's ever-growing collection of priciest listings is a 1200-square-foot apartment in the Surrey Hotel at 20 East 76th Street. The Post reports that the pad—which is actually the 17th-floor penthouse if that sweetens the deal any—is currently renting for $300,000 a month and comes with one "oversized" bedroom, one-and-a-half bathrooms, and access to the hotel’s English rooftop garden and five-star amenities, which include a day spa and a place to pamper your pooch, amongst other perks.
Have a look around here
The Rise of the ‘Pencil Tower;’ Floor Plans and Prices Revealed for All Sony Tower Condos
February 19, 2015

The Rise of the ‘Pencil Tower;’ Floor Plans and Prices Revealed for All Sony Tower Condos

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What’s happening to NYC’s skyline? Get used to seeing more and more “pencil towers” everywhere. [NYT Opinion] We got a peek at the $150M penthouse yesterday. Now find out how much buyers will shell out for the converted Sony Tower condos, and what exactly they’ll get in exchange for their millions. [TRD] Citigroup CEO Michael Corbat announced […]

REVEALED: Long Island City’s One Queens Plaza by Raymond Chan Architect
February 19, 2015

REVEALED: Long Island City’s One Queens Plaza by Raymond Chan Architect

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Here's your first look at an upcoming 18-story, 110-unit residential building called One Queens Plaza in Long Island City. Situated at 42-10 27th Street, the tower is being developed by the ever-growing-in-ambition New York Lions Group, also the developer of the two nearby Court Square towers that we revealed earlier today. Late last month, The Real Deal broke news of the development's initial construction permit filing, which calls for a 90,000-square-foot tower that will include 8,645 square feet of commercial space, as well as a 55-car parking garage. It will be just a single stop from Midtown along the N and R lines–meaning residents can be whisked from their doorsteps to Bloomingdales in roughly five minutes.
More on the project ahead
Extell’s UWS ‘Poor Door’ Building Now Taking Affordable Housing Applications
February 18, 2015

Extell’s UWS ‘Poor Door’ Building Now Taking Affordable Housing Applications

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Easily 2014's most controversial building, Extell's 40 Riverside Boulevard—a.k.a. the "Poor Door" building, and recently rechristened 50 Riverside Boulevard in light of the scandal—is back in the news, this time for reasons far less unsavory. Starting today, qualified New Yorkers can apply for one of the building's 55 subsidized rentals.
Find out how much units are going for
Why the Plan to Toll Bridges Will Succeed; Is NYC Becoming a ‘Gated Community?’
February 18, 2015

Why the Plan to Toll Bridges Will Succeed; Is NYC Becoming a ‘Gated Community?’

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Here’s why the new plan to toll NYC bridges—and other traffic pricing—will succeed. [Crain’s] With housing costs rising with no end in sight, NYC is in danger of becoming a “gated community.” [TRD] The rise of the “designer neighborhood” and a look at the developers turning the last of NYC’s undeveloped land into custom, mega-sized real estate […]

Developer Matthew Blesso Settles into a Spectacular Park Slope Townhouse for $4.05M
February 18, 2015

Developer Matthew Blesso Settles into a Spectacular Park Slope Townhouse for $4.05M

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Developer Matthew Blesso is doing a total architectural 180. Blesso, who used to call  this uber-sleek Noho penthouse home, has just closed on a far more cozy historic construction in the heart of Park Slope according to city records filed today. No official listing could be found for the three-story pre-war home, but previous reports show that it was last being rented out by its former owner William Lawrence for about $11,000 a month. The neighborhood and the townhouse are certainly quite a change for Blesso, whose last home was about as modern and metropolitan as they get.
Have a gander inside this architectural gem ahead
Sony Building Penthouse Will Ask a Record-Breaking $150M
February 18, 2015

Sony Building Penthouse Will Ask a Record-Breaking $150M

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There's a new priciest listing record in town, and it goes to the $150 million triplex penthouse at the Chetrit Group's Sony Building condo conversion, according to The Real Deal. The 21,504-square-foot unit will occupy floors 33 through 35 of the 37-story tower at 550 Madison Avenue and have a private elevator, eight bedrooms, eight bathrooms, and ten powder rooms. If it gets what it's asking for, it will break the record for the current highest condo sale, the $100 million penthouse that sold at One57 last month.
Check out the impressive Sony Tower floorplans here
A Pierre One-Bedroom Going for $120,000/Month; Rem Koolhaas Design Coming to the High Line
February 17, 2015

A Pierre One-Bedroom Going for $120,000/Month; Rem Koolhaas Design Coming to the High Line

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Although someone’s rented out the Pierre’s $500,000/month presidential suite, there’s still a one-bedroom available for $120,000/month. [NYDN] Rem Koolhaas will design Related’s new building along the High Line. [Architizer] The Branson at Fifth is the city’s worst ‘illegal’ hotel. [Crain’s] Rafael Vinoly is designing a townhouse on East 64th Street. [Curbed] Teamsters have put a […]

Proposed Condo Tower Could Stall Entire South Street Seaport Redevelopment Plan

Rendering of the proposed tower

February 17, 2015

Proposed Condo Tower Could Stall Entire South Street Seaport Redevelopment Plan

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Less than a week after it was revealed that the Howard Hughes Corporation paid $31 million for more than 300,000 square feet of air rights at the South Street Seaport, it looks like the entire $1.5 billion redevelopment project could be stalled. The overall plan would breathe new life into the downtown historic district by rehabilitating crumbling piers, preserving and finding new use for landmark buildings and constructing a 42-story waterfront condo tower at the foot of Beekman Street. And it's this last point that has local officials, civic groups, preservationists and some community residents worried or downright angry. The 494-foot-tall, SHoP Architects-designed tower has already been scaled back from its original 650 feet, but concerned parties still feel that the building would "obscure views of the Brooklyn Bridge and clash with the low-scaled, early-19th-century brick buildings that make up the 11-block seaport district, once the center of the city’s maritime industry," according to the New York Times.
More on the debate
Harlem’s Affordable Live/Work Space for Artists Complete; Why Long Island is Dying
February 13, 2015

Harlem’s Affordable Live/Work Space for Artists Complete; Why Long Island is Dying

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Leasing has begun at the newly renovated luxury homes at Shorecrest Towers at Trump Village. The homes, located in Coney Island, start at $1,500 for studios, $1,650 for one-bedrooms and $2,332 for two-bedrooms. [6sqft inbox] Three reasons Long Island isn’t seeing any growth when compared to other suburbs. [CityLab] HHL Architects has complete work on Artspace […]

New Report Shows It’s More Expensive to Rent in Queens than in Brooklyn

Ridgewood via Cameron Baylock

February 12, 2015

New Report Shows It’s More Expensive to Rent in Queens than in Brooklyn

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A new report released today by Douglas Elliman shows that Queens has surpassed Brooklyn in most expensive rents. The median montly rent in Western Queens rose to $2,905 in January, a 30.7 percent jump from the same time last year. That's $4 more than North and Northwest Brooklyn's median rent, which only rose 2.5 percent to $2,901. We shouldn't be so surprised, though. With constant news of skyrocketing prices in Brooklyn, a lot of attention has been turned to Queens, especially up-and-coming neighborhoods like Ridgewood, as well as already-established hip spots such as Long Island City and Astoria.
READ MORE
$30M Mega-Mansion Coming to Soho; New Developments Heating up the Jamaica Real Estate Market
February 12, 2015

$30M Mega-Mansion Coming to Soho; New Developments Heating up the Jamaica Real Estate Market

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A massive, 13,000-square-foot mega-mansion is coming to Soho. Madison Equities will combine two existing townhouse development sites to create a completely customizable $30 million home. [NYDN] Several mega projects coming to Jamaica may prove to be the real estate tipping point for the Queens ‘hood. [TRD] Hudson Yards developers get $180 million in tax breaks. […]

Carmelo and LaLa Anthony Score an $11 Million Pad Overlooking the High Line
February 12, 2015

Carmelo and LaLa Anthony Score an $11 Million Pad Overlooking the High Line

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New York Knicks star Carmelo Anthony and wife LaLa have been on the hunt for a Chelsea home since last fall, and after touring countless multi-million dollar homes (like this one and this one) it looks like the pair have settled on a High Line-adjacent condo at Cary Tamarkin’s new 10-story, 15-unit complex at 508 West 24th Street. The Post reports that the hoopster is putting down $11 million for a massive full-floor home.
Check it out here
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