Real Estate Wire: A Portfolio of Parking Lots Worth $250M; Upgrades Planned for Grand Central Get Flack

By Diane Pham

September 12, 2014

The Brooklyn shtetls that have embraced Crown Heights’ new hipster neighbors. [Tablet]
An Afro-Caribbean has raised $7.5M to turn a long-vacant East Harlem firehouse into a new cultural center. [NYDN]
New York state’s Empire State Development Corporation is trying to seize seven properties for Atlantic Yards Project through eminent domain. A judge was asked to determine compensation for the properties’ owners. [DNA Info]
The $210M improvements planned for Grand Central’s subway station have been met with criticism. Locals aren’t convinced that the changes in the pipeline reflect the project’s lofty price tag. [WSJ]
A package of eight family-owned parking garages in Manhattan and Brooklyn that recently hit the market could net $250M. [TRD]

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$50M penthouse is the last residence available at the Upper East Side’s famed Surrey Hotel

By Aaron Ginsburg

Manhattan's famed Surrey Hotel is making a comeback. Following bankruptcy proceedings, new owners, and a renovation, the 100-year-old Art Deco landmark at 20 East 76th Street on the Upper East Side reopened last month as a condo hotel, with 100 hotel rooms and 14 condos, part of the Surrey Residences. Now, after a whisper sales campaign, just one remaining apartment is about to hit the market: a three-bedroom duplex penthouse asking $50,000,000. The sprawling residence, the building's most expensive, offers 5,195 square feet plus 2,346 square feet across three terraces and a private rooftop.
tour the penthouse