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 [...]
Mar 26th, 2013
strong downtown retail spurs landlords to convert apartments to stores
Coveted Downtown neighborhoods like Soho and the West Village have commanded some of the highest residential rents in Manhattan. But now landlords – most recently Stone Street Properties and SMA Equities – have found that converting ground-floor apartments into retail space is far more profitable. Stone Street filed plans to convert a first floor apartment [...]
Mar 14th, 2013
holy and pricey air
There are three Midtown religious institutions that want to cash in on the city’s Midtown East rezoning proposal: the St. Patrick’s Cathedral, St. Bartholomew’s and Central Synagogue. They want to sell air (aka: the right to build more Manhattan real estate). In fact they feel a bit left out because the Bloomberg administration’s rezoning plan [...]
Mar 14th, 2013
high line facts
The trend of decreasing inventory (i.e. homes available for sale) is still very much a reality. Many brokers report stories of harsh bidding wars for the best apartments. One agent said that his client lost his bid since he was competing against 45 other offers for a condo in Williamsburg. It is easy to believe [...]
Mar 8th, 2013
NYC-area home prices UP
U.S. home prices jumped 9.7 percent in January from the same month in 2012 and NYC properties grew at even a slightly higher rate, according to new report released by CoreLogic. This nationwide figure, which included distressed sales, marked the 11th consecutive monthly increase and the biggest since April 2006. In the New York metropolitan [...]
Mar 8th, 2013
development activity in West Village
Acquisition and development firm Keystone Group is slated to bring a luxury seven-story condominium (with retail on the ground floor) to a prime West Village location — 130 Seventh Avenue South. In December, Keystone — also at work on 391 Broadway — paid $6.3 million, or $1,983 per square foot, for the 3,500 square-foot property [...]
Feb 15th, 2013
Empire 57th
We have officially reached the lowest level of inventory available since the year 2000. The appraisal company Miller Samuel reported that in the fourth quarter of 2012 there were only 4,749 units (condos and co-ops) available for sale. Similarly the website StreetEasy showed that the number of listings available declined almost 14% from the last [...]
Jan 17th, 2013
a “small” deal says it all
a “small” deal says it all Sales volume didn’t seem to decrease at the turn of the year. Data by company UrbanDigs show that as of January 1, 2013 there were 21% more pending sales (meaning sales that are about to close and for which a contract has been already signed) of Manhattan condominiums, co-ops [...]
Dec 7th, 2012
meals that matter
meals that matter The Real Deal reports on the brokers’ favorite dining spots to meet clients and speak about big bucks. On the Upper East Side, the Metropolitan Club, founded by J.P. Morgan in 1891 at 1 East 60th Street, is a classic. No press, no photographers, no cell phones permitted; the privacy is almost [...]
Dec 7th, 2012
a look into 2013
One World Trade Center is expected to start welcoming its first tenants by the end of 2013. Condé Nast is famously the largest one to have signed up already (it will be a total of 1.1 million square feet of leased space); roughly 5,000 employees of the company should move into the building by 2013. [...]
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