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July 3, 2014

Your Daily Link Fix: A Skycraper on Top of a Building; Run, Don’t Walk, to Shake Shack Today

IKEA Lamp Changes Colors with Your Mood: It’s the mood ring of the 21st century. PSFK examines how designer Vittorio Cuculo hacked an IKEA lamp so that the world may know exactly how he’s feeling. Invasion of privacy? Possibly. Totally awesome? Definitely. Architects Pushing Fashion Forward: Architizer shows us that architects love fashion, and demonstrates it […]

June 25, 2014

Weekly Market Snapshot: The Week of June 25, 2014

During the week May 26th, NYC saw 254 condominium and cooperative sales, averaging $2.3M and $1.5M a sale respectively. The three most expensive closings were on the UES and in Nolita. Egyptian billionaire Nassef Sawiris made history with his $70M penthouse buy – the most ever paid for a co-op. In celeb real estate news, new-age author and physician Deepak Chopra ditched his mediocre Park Imperial pad and even managed to make more than a million dollars in the process; Simon Cowell on the other hand put down $10.85M for his family's new ultra-luxe UES home. Industrial Revolution: While designers (and developers) are favoring ridiculously tall glass towers, architect Morris Adjmi is returning to the fundamentals by designing subtly distinct, timeless buildings that blend seamlessly into their historic neighborhoods. We profile Adjmi in this week's issue.   For market trends, top residential sales, celeb real estate news and a look at those (architects) who dare to be different, we turn to CityRealty‘s Weekly Market Snapshot for the scoop.
Get the full report here
June 24, 2014

Multiple Walker Tower Owners Also Buying Units in Sister Property Stella Towers

Take two Art Deco commercial buildings designed by Robert Walker in the roaring twenties and mix in a little 21st century residential conversion magic by JDS Development Group, Property Markets Group, and Starwood Capital Group, and what do you get? Apparently two highly successful projects that now have even more in common - owners who have purchased units in both buildings.
Why did owners double up on their investments?
June 18, 2014

Your Daily Link Fix: Modern Marble Accents for Your Home; Herzog & de Meuron Designing Chrystie Street Hotel

Brick Single-Family on Clinton Hill Progressing Quickly: The Brownstoner has an update on the construction at 218 Greene Avenue, and it’s moving pretty quickly. Modern Marble Accents for Your Home: The Observer schools us on the new way to incorporate marble while showcasing ten of their marble picks. iMakr 3D Printing Company Moves to the […]

June 13, 2014

NYC Trying to Preserve Low Rents in Stuy Town, Asks CWCapital Asset Management to Hold Off on Sale

Photo via Wiki Commons Here we go again. Stuyvesant Town and Peter Cooper Village on Manhattan’s east side have a long history of being an affordable option for middle-income workers. But these days its hold on that place in the city’s housing landscape appears tenuous at best. Though rent-stabilizations laws have been in effect for many units and about half are below-market rates, the remainder is comprised of luxury apartments, with one-bedroom units fetching as much as $2,900 a month, more than double the rate in 2006 when nearly ¾ of the units were below market. And with the property poised to sell for billions of dollars, the trend towards more luxury rentals seems likely.
More on the city's plan to keep rents low
June 11, 2014

Market Snapshot: The Week of June 11, 2014

Leading into summer, the market continues its roller coaster ride — we're seeing sharp increases in sales following an unexpected lull in the typically active spring season. For the week of May 12th, the city recorded 233 sales; Manhattan condos sold for an average of $3 million, while co-ops pulled in an average $1.3 million. One57 scored not one, but two of the most expensive sales of the week at $30.5 million and $17.8 million. But it was celeb favorite, 15 Central Park West, that staked claim to the top spot with a buyer paying $48 million for the keys to #1819B. The real-estate flip: We all know someone who knows someone who managed to buy at the right moment only to sell it months later for an exorbitant sum. We look at three of NYC's biggest moneymakers in the last three years. One of which comes courtesy of the Winklevoss Twins.   For market trends, the latest real estate listings, and a dissection of one of New York's riskiest investment pursuits, we turn to CityRealty‘s Weekly Market Snapshot for the scoop.
Get the full report here
June 10, 2014

Your Daily Link Fix: 237 East 34th Street Revealed; Is Junior’s About to Be Replaced?

Tallest Building in Brooklyn to Replace Juniors?: Developers Michael Stern and Joseph Chetrit just bought the parcel of land next to Juniors. Now the Brownstoner is fearing the establishment’s fate. Tribeca Hotel Operator Endures Walk of Shame: Eileen Hickey-Hulme’s landlord claims she turned her rent-stabilized loft into a hotel when she sublet the pad for […]

June 7, 2014

Heritage Equity Partners Continues Its Gentrification of Brooklyn: Next Stop, Crown Heights

With its beautiful brownstones and tree-lined streets, Crown Heights was once among the city’s premier neighborhoods prior to WWII. And though much has changed in subsequent years, Heritage Equity Partners is betting on its posh roots, acquiring a controlling interest in a new development project at 564 St. John’s Place. The deal values the property at close […]