It’s not easy to sell a luxury condominium these days, and buyers just aren’t as satisfied with indoor swimming pools and marble-laden chef’s kitchens as they once were. Enter the automated parking system — complete with sensors and robotic platforms — that developers are featuring more and more at their new developments. Before the real estate crash in 2008, automated parking starting showing up at a few projects in Downtown Manhattan. The systems are now … more
Patch.comHome Buyers: Here Are the 10 Most Expensive Neighborhoods in BrooklynPatch.comA new study looking back at the year in real estate sales found Park Slope to have the 25th most expensive home market in the city, and the 7th most expensive in Brooklyn. Real estate data firm PropertyShark counted 416 sales of Park Slope residential …and more »
Vornado Realty Trust and Bobby Cayre’s Aurora Capital Associates obtained a $90 million construction loan for its 164,000-square-foot Meatpacking District office-and-retail project at 61 Ninth Avenue, which will house the largest Starbucks Coffee store in the world. Germany-based bank Helaba and Midtown-based financing holding company CIT Group provided a five-year, floating-rate loan Thursday to the developers, according to JLL, which arranged the deal. The Rafael Vinoly-designed Class A property, which will have ceiling heights of … more
The biggest holiday gift this year for millions of Americans doesn’t fit under a tree and can be a little hard to grasp, but it may be of exceptional value: If you own a home, the odds are good that your equity holdings increased by thousands of dollars over the past 12 months. New quarterly data released by the Federal Reserve reveal that American homeowners’ equity grew by $1.02 trillion in the 12-month period ending … more
BrownstonerBrooklyn Real Estate: From High-Tech to 19th Century Details | BrownstonerBrownstonerThis week our most popular listings included homes with unusual interior features, ranging from virtual doormen to an elevator. One home even has a built-in home automation system you can control from an iPad. The top pick of the week was a 19th …
Sales of new homes across the U.S. spiked last month, as buyers rushed to sign contracts amid rising interest rates. Purchases of newly constructed single-family homes increased 5.2 percent between October and November to a four-month high of a 592,000 annualized pace, U.S. Commerce Department data cited by Bloomberg showed Friday. The increase included the largest gain in the Midwest market since October 2012 and the fastest pace of demand on the West Coast in almost nine years, … more
Citi Habitats is shuttering one of its oldest storefront locations in the West Village. The company has operated a location there for nearly two decades. Company president Gary Malin said the decision to close the office, at 114 Perry Street, came amid a shift in the firm’s Manhattan business plan to focus less on brick-and-mortar storefronts and more on larger consolidated spaces where all of its agents can be in one place. The closure brings Citi’s
On Thursday, news broke that President-elect Donald Trump is in talks with Deutsche Bank to remove personal guarantees from real estate loans on his properties, in an apparent bid to avoid conflicts of interest. But these loans, totaling $300 million, are likely just the starting point when it comes to Trump’s personal entanglements with his real estate empire. Various real estate contracts of the type Trump has signed routinely contain clauses that may tie him … more
From the December issue: For 85 years, Rockefeller Center has erected a gigantic Christmas tree near its ice rink. The building’s head gardener spends months in advance scouting potential candidates and uses an in-house crew of engineers to fell, transport and install it — a rare case of in-house Christmas stage-managing. Most large property owners in New York City hand off seasonal festooning to professional holiday decorators — who, as it turns out, are predominantly Jewish. … more
A construction worker died Friday after falling down an elevator shaft at Gordon Haskett & Co.’s 19-story condominium project at 152 East 87th Street on the Upper East Side. The man, whose name was not revealed by officials, worked for Noble Construction Company, DNAinfo reported. The 156,000-square-foot, Ismael Leyva-designed building, which will have 56 apartments, is under construction. The 30-year-old was working on the third floor when he fell down the elevator shaft to the &#
From the Los Angeles website: Try explaining this one to the father of the bride. The son-in-law of ex-Trump campaign chairman Paul Manafort filed for bankruptcy protection for four of his Los Angeles properties, a move that comes on the heels of a lawsuit that accuses him of running a Ponzi scheme in New York. more … more
For city and state officials, the latest crackdown on property owners abusing a lucrative tax break is a brag-worthy moment, a critical step in ensuring developers stick to certain rent regulation requirements. But for Joseph Ognibene, a property owner in Queens, it could upend his retirement plans. “What they are asking is almost impossible for a person like me,” Ognibene said. “I’m a small owner, and I think that’s who it’s going to affect the … more
A reader is getting ready to purchase a new home but has just found out that there are no gas or electrical meters installed. The two-family home in Ocean Hill is a rehab but the seller wants to close before the meters are installed. Some compensation is being offered,… Read More >The post From the Forum: Should a Buyer Close on a House Without Gas or Electrical Meters? appeared first on Brownstoner.
From Luxury Listings NYC: Frédéric Fekkai, the celebrity hairstylist and shampoo maker, has listed his duplex co-op at 953 Fifth Avenue for $8.5 million.more … more
New York TimesWhere Trash Makes a Stop in Brooklyn, Neighbors Want It GoneNew York TimesAs property values in parts of these neighborhoods boomed, the calls for an overhaul gained powerful allies in the city's real estate community. Melissa Iachan, senior staff lawyer in the environmental justice division at New York Lawyers for the …and more »
Lewis Barbanel’s Barberry Rose Management bought a 13-building Inwood multifamily portfolio from Silvercup Studios’ property arm for $63.6 million. The Long Island-based landlord shelled out about $175,000 per unit to buy the 363-unit portfolio, property records filed with the city Friday show. The portfolio includes seven contiguous five-story walk-ups at 109, 113, 117, 121, 125, 129 and 133 Sherman Avenue with a combined 187 units, all of which are rent-stabilized, according to Reonomy. Abutting those buildings on the … more
We’ll see you back here next week.
Broad Street Development is aiming for a target sellout of $288.5 million at its planned Noho condominium, according to a newly filed offering plan for the project. The developer is planning a 12-story, 61-unit building at 40 Bleecker Street, according to documents submitted to the New York state Attorney General’s office. The building will also have 11 parking spots and an 11,000-square-foot retail component. The condominium will rise on the site of two rental properties … more
For many, the kitchen is the heart of the home, so it only makes sense that the room be well organized and pleasing to both cook and congregate in. Sadly, that’s not always the case in a New York City kitchen. Often miniscule in size, many tend to lack in aesthetics, which is why the integrated…
This week, we’re going back six months away from the biting cold to fonder memories of June warmth and looking at how four featured listings fared on the market. Three of the properties — all houses — sold, and one, a condo, was taken off the market. Our first pick,… Read More >The post Brooklyn Real Estate Listings Six Months Later: Three Homes Sold appeared first on Brownstoner.
A cousin of the man convicted of murdering Brooklyn landlord Menachem Stark told investigators he was actually Stark’s good friend and that he was trying to protect him. Erskin Felix, along with two of his family members, was indicted earlier this week for his role in Stark’s 2014 slaying, including putting a tracking device on his car. But in the wake of the murder, he told police that the landlord “is a friend of mine,” … more
Plus, DIY ‘Christmas tree’ options if you don’t feel like shelling out for the real thing.
In the News Love the Place in Williamsburg, Hate the View NYT Bed Stuy Nursing Home: Landlord Flipping Property Led to Deaths NYP Brooklyn Scores Over $15 Million in Development Awards Eagle In DoBro, a Difference of Opinion on the BQX Streetcar Eagle Fire Shuts Down Bushwick’s Occult Bookstore BK Daily Cousins of Killer of Brooklyn… Read More >The post Daily Links: Fortis Files More Building Plans for Cobble Hill’s Controversial LICH Development appeared first
Chelsea City Council member Corey Johnson is in the hot seat amid allegations that a campaign volunteer paid for rent, clothes and office supplies during the 2013 election. City investigators are now looking into a volunteer’s donation of more than $8,000, which was not recorded as regular campaign donations. At least $1,500 of those funds paid for campaign manger R.J. Jordan’s colonoscopy. Jordan described that payment as “an agreement made between friends outside of my … more