Youths Live Above 59th St; Tempest Over Crown Hts Rezone
· Youths are living uptown! YOUTHS ARE LIVING UPTOWN! [NYO]
· A first look at 77 Clay Street [YIMBY]
· A Jackson Heights White Castle may become a school [DNAinfo]
· SHoP's Gregg Pasquarelli on his projects [CO]
· 51 Astor's retail space remains empty [TRD]
· Checking in on Five Manhattan West [FC]
· De Blasio and "trickle down affordable housing" [Gothamist]
· Remembering the radical violence of 1970s NYC [Bowery Boys]
· Activists and CB clash over Crown Heights rezone [DNAinfo]
· A first look at 77 Clay Street [YIMBY]
· A Jackson Heights White Castle may become a school [DNAinfo]
· SHoP's Gregg Pasquarelli on his projects [CO]
· 51 Astor's retail space remains empty [TRD]
· Checking in on Five Manhattan West [FC]
· De Blasio and "trickle down affordable housing" [Gothamist]
· Remembering the radical violence of 1970s NYC [Bowery Boys]
· Activists and CB clash over Crown Heights rezone [DNAinfo]
Burnt-out Warehouse on 'Burg Waterfront Ready to Sell
[CitiStorage after the fire. Photo via Several seconds/Curbed Photo Pool]
Ever since a massive, seven-alarm fire brought down the CitiStoragewarehouse on the Williamsburg waterfront earlier this year, there has been lots of speculation over what might happen to the coveted 11-acre property. Now, the future of the site is a bit more clear, and it's probably going to make a lot of people very unhappy.
Crain's is reporting that the investment firms Midtown Equities andEast End Capital have entered a partnership to buy the CitiStorage site, with retail and office space likely to follow. Although no price has been made public yet, Norman Brodsky—the owner of the parcel —previously told Crain's that he had been entertaining offers of $250 million and up.
Brooklyn Too Expensive; Guy Buys East Harlem Pied-à-Terre
Welcome to It Happened One Weekend, our weekly roundup of The New York Times real estate section...
1) Rich people. What are they spending millions of dollars on? What are they complaining about? This isWhat's Up With Rich People? "The Wheel of Time turns, and Ages come and pass, leaving memories that become legend. Legend fades to myth, and even myth is long forgotten when the Age that gave it birth comes again." So wrote the epic fantasist Robert Jordan, and so it goes with real estate prices in New York, as a recent article in The Timesreveals. It turns out that the very same people who were once priced out of Manhattan and into Brooklyn are now finding their fortunes reversed. Brooklyn (well, the parts with all the rich white people, at least) has become too expensive, with median prices reaching$610,894 in the first quarter of 2015. Take hero Meredith Krantz, whose plan for a home in the Village was dashed in 2005 when she settled for a lowly one-bedroom in Boerum Hill instead. Years later, she's sold the place and can now afford a $650,000 studio apartment in the West Village. Of course, it's up for debate whether trading an apartment with a working fireplace and outdoor space for a studio apartment can truly be considered a success, but whatever! In the end, dreams do come true. Hooray for Meredith! ["Priced Out of Brooklyn? Try Manhattan"]
Surprise, Surprise: Most New Yorkers Have Lousy Commutes
The NYU Furman Center's epic new report —The State of New York City's Housing and Neighborhoods in 2014—is still being pored over by the data hounds, but The Post has parsed out some of interesting tidbits about New Yorkers' insane commutes. The conclusion: the best way to cut down on your commute time is to move to a wealthier neighborhood, of course!
According to the report, the West Village and the Financial Districthave on average the shortest commutes in the city at 24.5 minutes per trip, followed closely by Chelsea and Hell's Kitchen at 25.1 minutes, and Stuy Town and Turtle Bay at 26.3 minutes. The longest commutes, on the other hand, hail from Queens, with Jamaica clocking in at 47.6 minutes and the Rockaways at 46.9 minutes.
Weekend Open House Tour: West Village
This weekend on the Open House Tour, we're seeing what's on the market in the West Village. There are some nice listings, including a two-bedroom on Leroy asking $899,000, a one-bedroom on West 12th asking $2.1 million, and a two-bedroom on Perry asking $3.2 million (above).
Kitchen-in-Shower Apartment is Empty; De Blasio Slams 421a
Shocker: $1,795/Month Sad Kitchen Shower Can't Find a Renter, By the Numbers: Cheapest and Priciest Places to Rent in NYC, De Blasio Says New York 'Can't Be a City of Just Penthouses', What $3,000/Month Can Rent You in New York City, Please Let This 1,000-Foot Water Slide Come to NYC in August, A Sneak Peek at Brooklyn Bridge Park's Newest Section, Calatrava's World Trade Center Hub to Open Next Month, Opulent Upper East Side Mansion Wants a Discounted $59M,Carlos Slim's $80M Fifth Avenue Mansion Could Shatter Record,Million Dollar Listing New York S4E04: Serious Business
For $14,000, Rent the Most 'Brooklyn' Townhouse Imaginable
Brooklyn townhouses typically bring to mind those prewar beauties with historic details—molding, chandeliers, fireplaces, et cetera. But not this four-bedroom specimen in East Williamsburg, which itsridiculous brokerbabble calls a "celebration of tactile sensation." Renting for $13,995/month, it's a bastion of animal-print rugs, beamed ceilings, exposed brick, modern light fixtures of the trendy-bar variety, and "locally sourced rustic hardwood floors." Of course, there's some reclaimed wood thrown in there as well, for shelving in the sleek black-and-white kitchen. And a typewriter in the master bedroom. (For inspiration, please see its neighbor, the "Urban Cowboy" bed and breakfast.) The house, first spotted by 6sqft, also hasa garden and two terraces, but it's probably too cool to put them in the listing photos.
Broken Angel Creator Seems to Still Think He Can Get It Back
The Times ran a story today about the late Broken Angel house, formerly one of Clinton Hill's most iconic structures, now a rectangle of luxury condominiums. It's definitely a good read if you aren't fully caught up on the saga of the house, which was built by artist Arthur Wood and his wife Cynthia starting in 1979, declared unsafe after a 2006 fire, and lost to one developer after a messy entanglement with another developer a few years later. Towards the end of the article is a sad addendum to the story, where Wood reveals that he still seems to think he's going to be able to get the property back through litigation. "I told [new owner] Alex [Barnett], 'Don't put too much work into it, because I still have a chance of getting the building back,'" he tells theTimes, despite the fact that the structure he built is long gone, and eight of the ten condos that replaced it are currently in contract.
New Midtown Condo Tower of Glassy, Askew Boxes, Revealed!
Euro Properties has officially demolished a four-story building on 59th Street between Lexington and Park avenues to build a 38-story condo tower with just 29 apartments.
While discussing the project's status as the first building to beentirely developed (rather than co-developed or financed) but aChinese firm, the Times has the first look at the entire facade (click for big). (We'd seen interior renderings before, as well as a hazy silhouette behind the Euro Properties' founder but this is first honest-to-goodness look at what will rise at 118 East 59th. Singaporean architect Soo Chan, who may be better known for his High Line project with "neo-tropical" individual private pools, is responsible for the "facade that recalls the pressed-down buttons on an old-fashioned tape recorder, with sections that are beveled, at slight angles." Each apartment will be at least one floor, most will have two bedrooms, and about half will have Central Park views.
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Steps From Central Park, a Duplex With a Terrace for $895,000
Welcome back to The Six Digit Club, in which we take a look at a newish-to-market listing priced under $1 million, because nice things sometimes come in small packages. Send nominations to the tipline.
This one-bedroom duplex on West 72nd Street is just half a block from Central Park, but if the thought of joining hordes of shirtless sunbathers on the Sheep Meadow makes you shudder, never fear. This cute little apartment—no square footage is listed, so one can only assume—comes with its own terrace, so you can enjoy the outdoors without leaving. The bedroom and bathroom are located up a spiral staircase, as well as a huge walk-in closet that, according to the floorplan, has its own sink. Hmm. Recently renovated, it's on the market for $895,000.
Government Denies Telling Times Square to Remove Billboards
After reports earlier this week that the federal government was pressuring the Department of Transportation to remove the billboards in Times Square, both the government and the DOT are denying that that ever happened. City Lab did some digging and was told by a representative of the Federal Highway Administration that, "FHWA has been working with the New York State DOT and the New York City DOT for nearly a year to correct this unintentional consequence of extending the National Highway System (NHS). At no time has FHWA asked NYCDOT to remove the billboards from Times Square or threatened to withhold federal funds." The real question at hand is why exactly Times Square, along with virtually "all principal arterials" in the country, were reclassified as highways in a huge 2012 expansion of the National Highway System. While Times Square, of course, would never actually be forced to comply with the restrictions that govern real highways, other reclassified roads may not be so lucky. At the very least, there are probably quite a few more bureaucratic headaches in store.
Understand New York's Current Building Boom in 6 Charts
[All charts from the Furman Center]
It may seem like new buildings are going up at a breakneck pace in New York City, but a new report from the Furman Center shows that development is still way below pre-crash levels. The State of New York City's Housing and Neighborhoods in 2014 looks at housing, land use, demographics, and quality of life indicators in all five boroughs, and the built environment section puts the current perceived building boom into perspective.
The graph above shows new building permits approved by the Department of Buildings. After completely bottoming out in 2010, approvals have picked up significantly, but there's still a lot less activity than during the pre-crash peak in 2008. During that year, the DOB approved nearly 33,000 new housing units, while last year, it was closer to 21,000. That said, the number of larger buildings is greater than ever before. "Of all the new units authorized by building permits issued in 2014, 72 percent were in projects with 50 or more units."
Very Wealthy Woman Wants Out of $32.5M One57 Apartment
Here's a real Lifestyles of the Rich and Richer conundrum. The ex-wife of former San Diego Padres owner John Moores—let's call her Rebecca Moores—bought a 5,475-square-foot apartment on the 54th floor ofpioneering megatower One57, which oh-so-briefly wore the crown bearing the superlative "tallest residential building in New York City." But that four-bedroom, which has glorious views of Central Park and all that jazz, apparently wasn't enough for Ms. Moores, who in December 2014 shelled out more than $54 million for the entire 81st floor—of the same exact supertall. She plans to use that 5BR as, oh yes, a pied-a-terre.
So now what to do with that lower-down, less-good place? Ah yes, sell the contract. First reported by the Journal, Moores's inferior, never-lived-in property could be yours for $32.5 million. It's what everybody dreams of: a discarded piece of real estate that thinks it's worth 641 times what the average New Yorker makes in one year. Just remember, Bill Ackman's $91.5 apartment that he bought "for fun"(and flipping) far outweighs Moores in sheer exorbitance.
How Reality Star Lo Bosworth Overhauled Her NYC Apartment
Known for her roles on Laguna Beach and The Hills, fashion & beautyblogger Lo Bosworth (who is also the health and wellness editor at large for our sister site Racked) moved to New York City three years ago. She then schleped through five different apartments in that time period. She settled on a place with some quintessential New York-style exposed brick. Back in February, she posted a video of her apartmentupon move-in (above), furnished sparsely and (she admitted) pretty messily. "This is real life over here," she said in the video. "Not everything is always perfect-looking." Then this week, Refinery 29 came out with a video showing the transformed place after Bosworth teamed up with interior designer Justin DiPiero. "There was Ikea furniture everywhere," he said, "and not really a great sense of layout." So the kitchen and bedroom got a complete redo, and, needless to say, many more pieces of furniture and carefully chosen, eclectic tchotchkes fill the airy, stylish apartment.
What $3,000/Month Can Rent You in New York City
Welcome to Curbed Comparisons, a column that explores what one can rent for a set dollar amount in various NYC neighborhoods. Is one man's studio another man's townhouse? Let's find out! Today's price: $3,000/month.
↑ In Park Slope, a floor-through garden-level one-bedroom is asking$3,050/month. It includes a decorative fireplace, original wood shutters, and access to a very nice backyard.
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