Posts Tagged: Real Estate
2

The Penthouse at the Edge of the World

A superlative piece of New York real estate: And there on the map lies the farthest residential building from a subway entrance in Manhattan according to my analysis: 10 Gracie Square, located at the end of 84th street at the FDR Drive. It is 0.7 miles from the subway station as the crow flies, or 0.8 miles using the grid.

There are plenty of places that are nearly as inconvenient to the subway as this address, 10 Gracie Square, on top of which sits a $18,900,000 penthouse apartment, from which you have an unobstructed view of the Coler Goldwater Specialty Hospital & Nursing Facility, which sits just across the [...]

1

View Cloudy

A question about the forthcoming Nordstorm Tower, freshly rendered by YIMBY: At which floor of the one thousand seven hundred and seventy-five foot tower—which, though it is one foot shorter than One World Trade Center, because of the elevation of midtown, will be the tallest point in the city—will residents' view of Central Park be blocked by clouds? Not that it should matter terribly much during the fall and winter, when the building will cast a four-thousand-foot shadow across the park, since they should be some place much warmer anyway, like Miami or São Paulo.

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The Cathedral Ruins

A cathedral is a good place to remember. I visited European cathedrals when I was too young to care about them. There was Chartres: buttresses and spires, relics lined up in rows in glass cases, a crypt that’s not filled with dead people, but is another church in the church. One of the tour guides told me that the cathedral’s nave was constructed on an angle so that medieval pilgrims’ muck could be washed right out the door; they would just toss buckets of water in there. She also said that people still walk out to the cathedral from Paris and that it takes three days. You leave the city [...]

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A Photo Tour of Williamsburg's Latest Real Estate Travesty

Today's great story on New York City as real estate investment and money laundering capital of the world has lots to recommend it, but in particular it confirms one of those things you already know but don't have the numbers on: The Census Bureau estimates that 30 percent of all apartments in the quadrant from 49th to 70th Streets between Fifth and Park are vacant at least ten months a year.

Amazing. Such validation! The rest of us, well… we work here, so we should probably have some place to sleep.

The Spire Lofts in Williamsburg have been going on the market in waves, with an open house held [...]

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And Now It's Something Else

Sure, it was a "legendary local shoe store" and "now it's a fucking fro-yo place," but it probably won't be for long: Twist on Avenue A opened last fall, then promptly disappeared; the unrelated shop Twister on Second Avenue closed in March, lasting just over half a year. The festive-sounding Yogurt Crazy was first announced for Third Avenue in 2012 but instead, a notice from NYU — its landlord — appeared taped to the storefront last year demanding $37,134.87 in back rent. Over in Brooklyn, Forever Yogurt signed a lease near Barclays Center, but [...]

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Real Estate, "Crime"

Your enjoyment of this clip will probably hinge on how you feel about "funny" videos—or, more appropriately, how you feel about "funny" videos right now. I can take them or leave them, but it seems like I have been hearing Real Estate's "Talking Backwards" everywhere for months now, so it is nice to have something new from them, and also what with today's gloomy spring rain, the band's "side two of Murmur" sound is actually a pretty good accompaniment to the atmosphere. There is also some "funny" if that is your sort of thing, but I guess just wait for the music if not. [Via]

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"Phone Company" Was How We Used To Say "Tech Company"

"Since 2005, parts or all of 14 Manhattan sites have been sold or are in contract to be sold by Verizon, the successor to New York Telephone, property records show. The sales reflect the once vast scope of the old phone company's real-estate holdings, everything from two-story garages to modern towers to Art Deco skyscrapers. A telephone-exchange building that dates to 1917 is now on the market by Verizon on West 36th Street near Seventh Avenue as a potential hotel site. No asking price has been set. Properties are also on the market in Philadelphia and Boston. The Art Deco edifices were designed to illustrate the grandeur and power of [...]

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'Luxury' Redefined

"What used to be a 650-square-foot studio can now be a very well-laid-out one-bedroom," he said. For new condominiums like 50 Clinton Street, a project on the Lower East Side where WD-50, the restaurant run by the chef Wylie Dufresne, now stands, he said, "I’m dubbing a new term, 'cool luxury,' where the building is super design-focused, but it doesn’t use the most high-end finishes or appliances.”

Real estate developers may be, outside of teens, our most precious source of new forms of language.

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42 Crosby Street, New York City

November 26, 1873:

May 15, 1887:

March 1897:

August 3, 1898:

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What $2000 Gets You in Brownstone Brooklyn

Charming and unique large one bedroom in landmarked brownstone – extremely bright, 10 high sloped ceilings, SKYLIGHT in each room – no side windows, original hardwood floors*, renovated kitchen and bathroom, no side windows. Located on a prime block in Brooklyn Heights, no side windows, Blocks from all major MTA subway lines, no side windows.

Short distance to the Promenade and the Brooklyn Bridge, Restaurant Row on Smith Street, shopping on Court Street, no side windows, Atlantic Street and Montague Street, no side windows. Minutes to Manhattan, Wall Street and Midtown, NO SIDE WINDOWS.

*no side windows

10

Gentrification Eats Its Own

In 2003, a furious reader left this comment on Lockhart Steele's brief review ("one special place") of Wylie Dufresne's new Lower East Side restaurant, wd~50:

Enough with this place.

I've lived around the corner from Clinton Street since 1997 and the restaurant-row infusion has done little for me. The only place I've *ever* eaten at on the entire block is the Clinton Bakery Company. The rest of those places are for uptowners. It's always comical to walk by Clinton Fresh Food and see all the WASPs and preppies stuffing their faces in there. How they even find Clinton street on a map is beyond me.

Beyond the fact [...]

5

Gentry Horny

"Sometimes it’s hard for poly people to find housing where’s there’s no judgments," said Leon Feingold, the realtor showing the property. 'Where people aren’t always asking them to keep the noise down, or 'who are these people that are visiting you?' and 'why don’t you have a normal boyfriend like everyone else?'"—Bushwick's new exclusively polyamorous residential property is looking for tenants.

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How New Yorkers Think About Leaving

"The place has changed so much, I’m ready to go. But not for less than $5 million."

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Million Dollar Queens

"A large, single-family home in Jackson Heights' historic district recently sold for close to $1 million — more than $300,000 above the neighborhood's average asking price, according to the realtor." —If news like this makes you despair of ever owning a place here in town (or out there in Queens) do not worry, the Democrats will be back in Gracie Mansion soon and then everything will go to hell. If you can stay alive for a year or two you will be able to live wherever you want.

3

Has Your City Been Marked For Death Yet?

Lately, “new Berlin” has become shorthand for an under-visited European city that is cheap, fun, and up-and-coming. Ever since creeping gentrification and a massive rise in tourism have thrown into question the German capital’s status of the world’s “coolest” city, people have been racing to determine its successor. Candidates besides Leipzig include Krakow (Poland), Vilnius (Lithuania), Belgrade (Serbia), Tallinn (Estonia), and Warsaw (Poland). They share, to varying degrees, many of the elements that made Berlin famous in the 1990s: affordability, empty buildings that can be repurposed and a sizeable arts scene. But unlike Berlin, they won’t have the opportunity to develop their cool reputation slowly—and are just as likely [...]

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Laws of Nature

There are certain inexorable laws of nature that every building in New York City must abide by. For instance, the taller your building—and the higher your personal residence within it, well: We've already seen the layouts for some of the lower full-floor apartments in superscraper 432 Park Avenue, but this unit, which takes up the entire 92nd floor, is the highest apartment in the building to be listed so far. It follows logically that it also has the highest price — $79.5 million. (The 87th-floor penthouse was listed for $74.5 million last month, but the listing was removed for unknown reason four days ago.) Unit no. 92 has all [...]

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Fear of a Rich Foreign Buyer

The most recent New York mag cover story is a fascinating and seemingly overdue look at the flood of foreign money into the New York real estate market, and in particular at "stash pads," which are, despite their prime locations, little more than apartment-shaped financial contrivances. It's got it all! High-rise towers in which the majority of tenants are simply presumed foreign, since their identities are masked by shell corporations; whispers of international crime syndicates; blind money men sending buyer-tourists to make all-cash deals that squeeze even affluent city-dwellers out of the market; a subtext (possibly the PRETEXT for the piece, also?), of course, about the loss, under the [...]

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How the Other Half Condos

No one can afford to live anywhere, at least not in New York City or San Francisco, unless, of course, you can afford to buy a whole place to live, but then you have other problems, like all of the other people who can afford to buy a place to live, because there aren't that many places to live, even if you are capable of purchasing one outright: And just 1,163 new condos are expected this year in prime Brooklyn neighborhoods, according to Corcoran Sunshine, a new development marketing company. Fewer than 800 will come online next year. That’s nothing compared to the 10,000 new condominium units slated [...]

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This Month's Omen Forecast from the American Realtor's Association

Hello, realtor! The spring real estate season is here and that means one thing: hustle! But there's more to it than that. Maybe "sell in the spring" was all the market timing they needed in caveman days. We all know it's not that easy anymore. In today's competitive scene, the winning agent is the one who can read the signs everyone else missed and anticipate where the market's going on a day-by-day basis. Good Selling and Happy Spring!!!

On The Seventh Day A man holds a ruffled potato chip. He looks to the sky. A bird explodes. The explosion is shaped like another bird. On that block look for a [...]

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Big Windows Will Help Rich People Overlook Historical Taint Of Poverty And Illness

"St. Vincent's Hospital served the sick and the poor for more than 150 years in the heart of Greenwich Village. Now, condominiums under construction at the site have been selling quickly and at some of the highest average prices ever downtown, developers say."