Midtown West

The U.S. Senate voted 72 to 27 last week to confirm billionaire investor Wilbur Ross as Commerce Secretary. And now that he'll be busy renegotiating the terms of Nafta and defending allegations of his questionable ties to Russia, the "King of Bankruptcy" is ramping up efforts to sell his ostentatious Billionaires' Row penthouse. Curbed reports that the 14-room, "European-style" apartment first hit the market in 2015 for $21 million, then got a price chop to $18.5 million at the end of last year, and has now been reduced again to $16.5 million, less than the $18 million he paid for it in 2007.
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City’s planned Garment District rezoning will reduce protections for fashion companies

Image via Wally Gobetz/Flickr CC

February 28, 2017

City’s planned Garment District rezoning will reduce protections for fashion companies

Just two weeks after the city announced that they'd spend $136 million to create the "Made in NYC Campus," a hub in Sunset Park that will provide affordable space for film and fashion companies, it's come to light that the de Blasio administration has been planning a rezoning of Manhattan's Garment District. As Crain's explains, this could potentially roll back rules that require landlords to rent a portion of their buildings to fashion companies, a clear push to drive these businesses toward lower cost space in Sunset Park.
More info ahead

Policy

Mayor pulls Theater District air rights plan after disputes with City Council over floor price

Image via Wiki Commons

February 28, 2017

Mayor pulls Theater District air rights plan after disputes with City Council over floor price

Image via Wiki Commons The de Blasio administration pulled the plug Monday on proposed legislation that would give the city a 20 percent cut of any air rights sales in midtown Manhattan's Theater District, according to Crain's. The reversal followed disputes with City Council members over a key element–a floor price for the sales. The proposal had been part of a long effort to get theater owners to up the amount they contribute to a fund used for venue maintenance and support for smaller theaters. There is now speculation as to whether the move could cast a shadow on the administration's Midtown East rezoning plan, which is a similar policy initiative.
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Policy

February 22, 2017

Buy Karim Rashid’s sleek, candy-colored Hell’s Kitchen condo for $4.75M

Industrial designer/architect (and lover of all things pink and white) Karim Rashid once told 6sqft, "Color is life and for me, color is a way of dealing with and touching our emotions, our psyche, and our spiritual being," and this philosophy is clearly on display in his personal Hell's Kitchen home. If you're a fan of this quirky aesthetic, you're in luck; Curbed tells us that Rashid's super-sleek townhouse-condo at The Dillon recently hit the market for $4.75 million.
Take a tour of the whole place

February 15, 2017

The historic Astor Suite at the Plaza is for sale at $39.5M

The Astor Suite at the Plaza Hotel and Residences at 1 Central Park South just hit the market for an Astor-worthy $39.5 million. The listing calls the 4,284 square-foot, three-bedroom home "one of the most historic homes ever to become available in the United States." Currently owned by Esprit founder and former CEO Jürgen Friedrich, the suite boasts a roster of past residents that includes John Jacob Astor, the Duke and Duchess of Windsor and John F. Kennedy.
Take the tour, find out more

February 14, 2017

One57 apartment underneath the supertall’s arched-glass walls asks $13.94M

By Emily Nonko

Here's your chance to live in an iconic unit of the super-luxury Midtown tower One57 at a relative discount. According to CityRealty, the "usual" average price per square foot for an apartment at the building is $6,120—but this four-bedroom, four-and-a-half bath pad is asking $13.9 million at a price of $3,742 per square foot. It's also located right under the skyscraper’s distinctive arched-glass walls at both the top and middle of the tower.
Take a look

Distinctive Homes

February 9, 2017

Matthew Perry checks out a sleek $25K Midtown West rental

The Chick and The Duck would surely approve of those river views. LLNYC reports that actor Matthew Perry, a.k.a. Chandler Bing from the long-running sitcom "Friends," is on the hunt for some NYC digs. Perry's rep was recently spotted scoping out a $25,000/month apartment at the luxurious Atelier on 42nd Street. The sleek spread includes three bedrooms, three bathrooms, unobstructed river views and a location just a short subway ride from the MCC Theater where the actor will star in play he wrote called "The End of Longing" this summer.
more details here

Celebrities

The city’s struggling garment industry finds a new home in Sunset Park

Photo via Alexandra Ferguson

February 8, 2017

The city’s struggling garment industry finds a new home in Sunset Park

At its peak in 1950, the city's garment industry employed 323,669 New Yorkers. By 2000, this number had dropped to 59,049, and in 2015, it was less than half that with just 22,626 residents "making apparel, accessories, and finished textile products," reports the Times. The struggling trade, long centered in the area bound by 5th/9th Avenues and 35th/41st Streets, has fallen victim not only to national trends of work being shipped overseas, but local issues like rising rents, outdated facilities, and competition from tech and media companies. But thanks to a collaboration between the city and the Council of Fashion Designers of America, a "new, modern garment district" is taking hold in Sunset Park, Brooklyn, where several industrial conversions offer cheaper rents, better equipped real estate, and a creative, collaborative community
Much more on the shift

Uncategorized

February 7, 2017

City continues push to raise fee for Theater District air rights transfers

In November, the City Planning Commission voted to raise the cost of air rights transfers in the Theater District, allowing the city to take a 20 percent cut of any sales and establishing a minimum floor price of $346, a roughly 400 percent increase over the current $17.60 flat fee that they feel will be more in line with current property values. Despite vocal opposition from the Real Estate Board of New York, who back Theater District landlords and believe the increase is "is onerous, excessive and unfair," this month the Commission is hoping to have the proposal approved by the City Council, reports Crain's.
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Policy

January 30, 2017

Hidden tunnel connecting New Yorker Hotel to Penn Station unearthed

By Hannah Frishberg

Under the New Yorker Hotel, a former guest convenience has been rendered an Art Deco artifact by the times. While not built to be a secret, a tunnel connecting the Midtown hotel's lobby to Penn Station was sealed on the station's side sometime in the 1960s and subsequently forgotten, according to Atlas Obscura.
See what the tunnel looks like today, almost a century later

January 18, 2017

POLL: Will construction begin on a new Port Authority bus terminal by 2021?

After stalling repeatedly over design disagreements, budget woes, and funding squabbles, NJ.com reports that The Port Authority said it hopes to have a new midtown Manhattan bus terminal built in New York by 2030, shovels in the ground by 2021 and be "well underway" by 2026. Though some lawmakers expressed doubt about the ambitious schedule, Steven P. Plate, Port Authority chief of major projects, said at a Legislative Oversight Committee joint hearing about the agency's $32 billion revised capital plan, "We will have full environmental approval, permits in place and construction well underway" according to that timeline.
Think it will happen?

Transit

January 13, 2017

Pieces of Thomas Heatherwick’s massive, climbable ‘Vessel’ arrive at Hudson Yards site

Back in September, Related Companies chairman Stephen Ross finally unveiled the large-scale artwork that would anchor the central public space within Hudson Yards. As Ross revealed, Thomas Heatherwick was chosen to design the piece, and it would cost an incredible $150 million to build. Dubbed "The Vessel,” the climbable sculpture would rise 16-stories—150 feet tall, 50 feet wide at its base and 150 feet wide at the top—and consist of a web of 154 concrete and steel staircases with 2,500 steps, 80 landings and an elevator; the piece, in fact, so massive that it could comfortably accommodate 1,000 visitors at a time. The sculpture was to be constructed in Monfalcone, Italy before being shipped to its home on the Hudson River. And now CityRealty reports that parts of what Ross once called "New York's Eiffel Tower" have officially arrived at the site and await assembly.
More photos this way

January 11, 2017

Norman Foster’s 50 Hudson Yards gets $195M in tax breaks from the city

When completed, Related Companies‘ and Oxford Properties Group’s 50 Hudson Yards will be the city's most expensive office building, coming in at $3.94 billion. To make starchitect Norman Foster's pricey vision a reality, the developers had filed an application with the New York City Industrial Development Agency to take advantage of financial incentives that were enacted in 2006 to encourage development in Hudson Yards. And according to a new report in Crain's, the agency has approved $195 million in such tax breaks, which include making fixed payments towards the 985-foot tower's development costs instead of paying property taxes that vary from year to year, as well as receiving a discount on the mortgage recording taxes.
Find out more right here

January 4, 2017

Norman Foster’s 50 Hudson Yards will be city’s most expensive office building at $4B

It's been less than a month since it was revealed that starchitect Norman Foster would be designing the Related Companies' and Oxford Properties Group's 50 Hudson Yards commercial tower, but the developers have already pegged the cost of the project at $3.94 billion, which will make it the city's most expensive office building, reports The Real Deal. The 985-foot tower, where BlackRock has already signed a 20-year lease for 15 floors, will surpass One Vanderbilt's projected $3.14 billion price tag and Bjarke Ingels' planned $3 billion+ High Line tower known as The Spiral, as well as One World Trade Center's current record of $3.8 billion.
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December 29, 2016

Art Nerd New York’s Top Event Picks for New Year’s Eve 2017

By Lori Zimmer

In a city where hundreds of interesting happenings occur each week, it can be hard to pick and choose your way to a fulfilling life. Art Nerd‘s philosophy is a combination of observation, participation, education and of course a party to create the ultimate well-rounded week. Jump ahead for Art Nerd founder Lori Zimmer’s top picks for 6sqft readers! With most of us ready to kick 2016 to the curb, there’s never been a better reason to get out and do something big for New Year’s Eve. This Saturday, put on something fancy/freaky/celebratory and get yourself to one of these amazing experiential parties. Take a cue from Dali at the Second Annual Surrealist Ball at the Roxy Hotel, or go Black Tie with Soho Grand’s Masquerade Ball. Expand your Sleep No More experience with their super fancy Bohemian Ball, or get a table at Mission Chinese for Luke Neocamp’s takeover. Hang all night at an art opening by Rae BK, or go the tourist way for the 112th New Year’s celebration in Times Square. Or if you’re in Brooklyn, head to The Well for a massive Tiki Disco, or to the immersive House of Yes for a party looking to the future. Whatever path you choose, happy New Year to all!
More on all the best events this way

Events & Things To Do

December 21, 2016

Live/work loft with an eight-foot wall of windows asks $4,950/month in Midtown West

By Emily Nonko

This Midtown West condo, at 448 West 37th Street, is known as the Glass Farmhouse—and this live/work loft is certainly glassy. The completely open, 1,550-square-foot pad has 13-foot, beamed ceilings, with eight feet of windows underneath. And all that space, the listing suggests, "allows endless possibilities for decoration and setup as you want." Although the building is a condo, this one is up on the rental market for nearly $5,000 a month.
Check it out

Distinctive Homes

December 16, 2016

Victoria’s Secret model Adriana Lima tries again to unload Midtown West pad for $4.85M

Sixteen-year Victoria’s Secret veteran supermodel Adriana Lima may have no problem sauntering down the runway, but things haven't come as easily for her real estate game. The Brazilian beauty bought a two-bedroom pad in Midtown West for $1.995 million in 2003. Six years later, she married NBA player Marko Jarić and had two children in 2009 and 2012. The next year they tried to offload the Metropolitan Tower apartment for $5.5 million, but after there were no takers, took it off the market. Now that the couple's split up (they finalized their divorce earlier this year), Lima is giving it another go, this time hoping to get $4.85 million, according to the Wall Street Journal.
Get a look at the whole place here

December 8, 2016

Norman Foster will design 985-foot tower at 50 Hudson Yards

It's been 14 months since developer Related Companies bought the site of a former McDonald's at 34th Street and 10th Avenue, the final parcel needed to complete Hudson Yards. Initial reports said the site of 50 Hudson Yards would hold a 62-story, 1,000+ foot commercial tower, but Related and Oxford Properties Group have now revealed that the structure will rise 58 stories and 985 feet and be designed by starchitect Norman Foster. As first reported by Curbed, the news comes on the heels of BlackRock's decision to sign a 20-year lease for 15 floors, or 850,000 square feet, in the building, leaving their long-time Park Avenue home in a show of confidence in the mega-complex.
Get more details ahead

November 17, 2016

Budget woes and design disagreements cause Port Authority to stall on new bus terminal plans

Just two months ago, West Side elected officials and the Port Authority agreed to move ahead on the 10-year, $10 billion capital project to replace the current Bus Terminal, releasing five design proposals for a new building. But officials at the bi-state agency "have reached an impasse" on the project due to budget concerns and disagreements on the design, reports Crain's.
The full story

Real Estate Trends

November 17, 2016

City Planning Commission votes to raise fee for Theater District air rights transfers

The City Planning Commission has voted to up the cost of air rights transfers in the special Midtown Manhattan district that includes Broadway's theaters, The Real Deal reports. Currently, when developers purchase air rights from theaters between West 40th and West 57th Streets from Sixth to Eighth Avenues, they pay $17.60 per square foot to the Theater Subdistrict Fund. Transferable development rights can usually only be used for adjacent properties, but the city created the special district in 1998 to help the theater industry thrive amid sharply rising real estate prices; within the district, air rights can be moved more freely in a larger area outside the usual “arms length” restrictions.
What does this mean for Broadway theaters?

Policy

November 9, 2016

Historic church near Penn Station to be converted to modern retail space

The Church of St. John the Baptist, located at 213 West 30th Street between 7th and 8th Avenues, has stood in Midtown since 1872. Designed in the French Gothic-style by architect Napoleon LeBrun, it first served New York City's German population and was later assumed by the Capuchin Friars. In 1974, a brown brick Brutalist structure was added on the other side of the site at 210 West 31st Street, facing Penn Station, to serve as the Capuchin Monastery of St. John the Baptist. This two-story building was recently acquired by KBS Capital and Onyx Equities, who plan to spend $14.2 million converting the property into a 30,000-square-foot retail space, reports The Real Deal. Though initial plans don't seem to touch the 144-year-old church, a rendering of the 31st Street project shows a glassy, neon-laden facade.
More details ahead

New Developments

November 8, 2016

Photographer Danica O. Kus provides new interior views of Bjarke Ingels’ Via 57 West

Photograph © Danica O. Kus For architectural photographers, Bjarke Ingels' self-described "courtscraper" Via 57 West is a dream. From its sharp angles and unique tetrahedron design to its winding courtyards and geometric interiors, the 32-story rental offers plenty of artistic shots. A couple months ago, just as the Midtown West project wrapped up construction, Iwan Baan released a set of images that showed new vantages of the central outdoor space and views of how the building fits in with the skyline. Now, ArchDaily shares a collection of photos from Danica O. Kus, these providing never-before-seen looks at Via's interior spaces--including the lobby, pool, and balconies--as well views of the the building's public art piece and highly artistic shots of its facade.
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Architecture And Design

November 7, 2016

Proposed Penn Station-topping free-fall ride gets new video, details

When developers at Brooklyn Capital Partners and designers at AE Superlab revealed their proposal to erect the world's tallest free-fall ride atop Penn Station, it seemed like perhaps a commentary on Governor Cuomo's big-ticket overhaul of the station. But in fact, the team hoped their 1,200-foot Halo, as it's being called, would rise along with the renovations, serving as "an interactive beacon for the city." As 6sqft reported, "the ride’s 11 cars... could be modified to move as quickly as 100 miles per hour giving it a top-to-base free fall of about six seconds." A freshly uncovered video shows this in action, and a new project website provides more details on the logistical components, 20-month construction time period, and $130 million in annual projected revenue.
Plenty more details this way

October 20, 2016

Jean Nouvel’s MoMA Tower is getting the first of its intricate, diagrid skin

News at starchitect Jean Nouvel's condominium MoMA Tower (officially called 53W53) has been relatively quiet since units hit the market just over a year ago. But CityRealty brings us an update from the Billionaires' Row construction site, where the 1,050-foot-tall, tapered tower is currently getting the first of its intricate, diagrid skin, which the architect once said will resemble blood running the veins with its nighttime lighting.
More details and views this way

Listings go live for Extell’s amenity-filled Hudson Yards Skyscraper 555Ten

Model unit designed by Lillian August

October 20, 2016

Listings go live for Extell’s amenity-filled Hudson Yards Skyscraper 555Ten