May 17th, 2013
Tiffany
This month in 1939, Tiffany&Company announced it would relocate to 727 Fifth Avenue, 20 blocks north of its former store location at that time. Tiffany’s headquarters at 401 Fifth Avenue was built in 1905 but by 1939 the area south of 42nd Street was losing its high-end shopping hub allure, the action was moving north. [...]
May 16th, 2013
LES
Lower East Side (LES) The Real Deal reports interesting facts about the Lower East Side neighborhood of Manhattan. This is a new up and coming area for future city development. The construction company Extell paid nearly $150 million for the site of a now-shuttered Pathmark store at 227 Cherry Street. The firm is expected to [...]
May 2nd, 2013
500 Metropolitan
Construction has finally resumed at the stalled 500 Metropolitan Avenue site in Williamsburg — once dubbed “The Gateway to Williamsburg.” The 15-story project will be mixed use, with 148 hotel rooms and 81 residential units, and slated to be completed in 2015. The developer is still Chetrit Group, the architect is still Gene Kaufman, and the building [...]
Apr 29th, 2013
Jehovah’s Witnesses sell Dumbo site
The Jehovah’s Witnesses recently sold three of their Dumbo, Brooklyn sites (located at 173 and 177 Front Street and 200 Water Street) for $30.6 million in apparent preparation for their move upstate. Brooklyn developer Shelly Listokin of Urban Realty Partners is the buyer. (Listokin was one of the developers of Brooklyn’s 20 Henry Street condo.) The [...]
Apr 26th, 2013
brooklyn boom
Brooklyn home prices are getting so high, some buyers are heading back to Manhattan. The median price of a Brooklyn home in the first quarter rose 14.4% to $515,000, the highest price reached since the second quarter of 2008, according to a report from Douglas Elliman. Brooklyn’s prices are being pushed up by strong demand [...]
Apr 21st, 2013
even more for the Meatpacking
More chain stores may be on the way to the Meatpacking District — already home to Patagonia and Lululemon outlets. With an average asking rent of $183 per square foot in the Village and MPD in the first quarter of 2013 — up 11% from $165 at the beginning of 2012 — commercial rental costs [...]
Apr 21st, 2013
this month in 1958: Ellis Island
The magazine The Real Deal offers a window on the past of New York real estate. In the current issue it reports on the how the federal government rejected 21 bids from private investors who were interested in purchasing Ellis Island, 55 years ago this month. In 1954, the federal government stopped using the island [...]
Apr 13th, 2013
Brave Leonard
The most ambitious downtown project in development now is 56 Leonard Street in Tribeca. The building will be a 60-story glass tower, comprising 145 units, which will make its immediate neighbors look like dwarves. It has a very special design with differently shaped floor plans that make it look like the Jenga game (the one [...]
Apr 5th, 2013
hot downtown pads
Prices continue to go up in downtown — below 34th Street — as buyers flock to this area. According to The Corcoran Group report, median sales prices in new developments there are up 51% versus this time last year. For the first time in a decade in the fourth quarter of 2012, the average asking [...]
Mar 26th, 2013
prices up at office tower 7 Bryant Park
According to the New York Post, 7 Bryant Park, the new office tower by Hines, is looking to command $200 per square foot for the 42,285-square-foot penthouse triplex at the top of the 28-story tower, on Sixth Avenue between 39th and 40th streets. The space comes with an alfresco roof terrace of just under 850 [...]
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