685 West End Avenue, Unit 4B

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685 West End Avenue, Unit 4B

UPPER WEST SIDE, MANHATTAN

3 Bed  |  2 Bath  |  Co-op

Offered At $2,650,000

MM: $2,742/Mo.

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Grand proportions and lovely prewar details abound in this sprawling three-bedroom, two-bathroom residence in a historic Upper West Side cooperative.

Spanning approximately 2,120 square feet, this 1920s residence is filled with fantastic updates and abundant prewar charm, including soaring ceilings, original hardwood floors, glass doors and handsome millwork. Flanked by convenient closets, the gracious gallery entry provides an ideal flow for entertaining. To the right, a sizeable living room looks out over West End Avenue, and to the left, a stunning designer kitchen is filled with custom cabinetry, granite countertops, a Viking range with six gas burners and two ovens, a Sub-Zero refrigerator and Bosch dishwasher. A convenient pass-through opens to the adjacent dining room which is smartly equipped with matching buffet cabinetry housing a wine refrigerator, extra freezer and in-unit Bosh washer-dryer.

This home's well-planned layout places three large bedrooms in a private wing, each separated for optimal privacy and tranquility. The exceptional master suite includes a western exposure, two large closets and a lovely dressing area with built-in cabinetry. The en suite master bathroom features an original cast-iron bathtub and separate shower stall. Two more bedrooms, facing east and west, include large closets of their own and easy access to the second full bathroom. This spacious layout could easily accommodate the addition of a fourth bedroom, and this home is conveyed with a large basement storage enclosure.

Built in 1928, 685 West End Avenue is a stately buff-brick building with stunning Neo-Renaissance and Gothic influences. Today's residents of the pet-friendly, established cooperative enjoy 24-hour doorman service, live-in superintendent, storage, bike room, and a landscaped communal roof deck with breathtaking Hudson River views. Pieds-à-terres and 75 percent financing permitted.

Beautifully positioned within the Riverside-West End Historic District, this gorgeous Upper West Side enclave calls to mind the style and elegance of a bygone era. Leafy Riverside Park and the Hudson River Greenway are at the end of the block, and Central Park is just four blocks east. The renowned dining, nightlife and gourmet shopping of the Upper West Side run along Broadway, and the nearby Columbus Square shopping center features a Whole Foods, Michaels, HomeGoods and more. Access to transportation is excellent with 1/2/3, B and C trains and abundant bus service all nearby.

Mark Your Calendars May 29th & 30th - Manhattanhenge

An event that makes even locals stop and stare returns to New York City this month. Manhattanhenge, when the sunset aligns with the east-west streets of the borough’s grid, is happening on May 29 and May 30, at 8:13 p.m. and 8:12 p.m., respectively (h/t I Love the UWS). Not only does the setting sun sit perfectly between Manhattan’s many skyscrapers during this biannual event, but an orange-yellow glow hits north and south side streets, creating a picture-perfect moment.

Astrophysicist Neil deGrasse Tyson coined Manhattanhenge, a play on “Stonehenge,” which is the circle of stones in England built to align with the movement of the sun. Manhattan’s grid does not run exactly north-south and east-west, as everything is rotated about 29 degrees clockwise.

During the summer solstice, the sun will set about 32 degrees north of true west. This means a few weeks before and after the solstice, the sun sets at the same angle as Manhattan’s grid, 29 degrees north of true west.

As 6sqft previously noted, Tyson recommends east-west cross streets for the best views, including 14th, 23rd, 34th, 42nd, and 57th Streets. In a blog post for the American Museum of Natural History, he writes: “The Empire State Building and the Chrysler Building render 34th Street and 42nd Streets especially striking vistas.”

On Wednesday, May 29 at 8:13 p.m. there will be a “half sun,” which means half of the sun sits above the horizon with half below the horizon. And on Thursday, May 30 at 8:12 p.m., the full sun will be visible, meaning it’s totally above the horizon.

If you can’t make it to this month’s Manhattanhenge, there are two more opportunities this year, after the summer solstice. Catch the phenomenon on Friday, July 12 at 8:20 p.m. and Saturday, July 13 at 8:21 p.m.

[Via I Love the Upper West Side]

420 East 51st Street, Unit 2A

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420 East 51st Street, Unit 2A

BEEKMAN PLACE, MANHATTAN

2 Bed  |  2 Bath  |  Co-op

Offered At $700,000

MM: $4,180/Mo.

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Discover your private indoor-outdoor hideaway in this two-bedroom, two-bathroom home with a fairytale garden in Midtown East's storied Beekman neighborhood.

Wrapped in windows on three exposures, this spacious approximately 1,375-square-foot home is a bright and airy haven in the heart of the city. In the expansive great room, you're greeted by hardwood floors, a decorative fireplace and beautiful built-in cabinetry. The windowed dining area welcomes gracious entertaining while the adjacent updated kitchen is filled with ample cabinet space, quartz countertops and full-size stainless steel appliances.

Enjoy plenty of space for a king-size bed and additional furniture in the extra-large master suite featuring two California closets and an en suite marble bathroom. Just outside, the serene landscaped garden provides a delightful backdrop for outdoor dining and relaxation. This home's second bedroom features more smart built-ins and easy access to the second full bathroom. Plenty of additional closets and resident storage attend to wardrobe and belongings in this peaceful Beekman residence.

The Morad Beekman is a lovely postwar co-op where residents enjoy 24-hour doorman service, a stunning double-height marble lobby, cold storage, bike room, a fantastic new roof deck and onsite parking garage. This land lease co-op offers incredible value and generous board policies that permit pets, co-purchasing, subletting and pieds-à-terre. The building even offers discounted cable packages for shareholders.

Located just inches from beautiful Peter Detmold Park and the East River promenade, this location combines Beekman residential serenity with Midtown accessibility. Great shopping and dining lines the nearby streets, and transportation is effortless with easy access to E, M and 6 trains, the Midtown Tunnel and 59th Street Bridge.

Macy’s Moves July 4th Fireworks To Brooklyn Bridge

For the first time since 2014, Macy’s will move its Fourth of July fireworks to the Brooklyn Bridge, and this year’s display will “add three times more pyrotechnic firepower,” according to a press release, with more spectacular effects being set off across the entire bridge, as well as from four barges off the shore of the South Street Seaport District’s Pier 17. The 43rd annual event, the largest July 4th celebration in the nation, will see the launch of “tens of thousands of shells and effects.”

In 2015, 2017, and 2018, the fireworks were launched from seven barges in the East River between East 23rd and 40th Streets, providing perfect views for Midtown Manhattan and Long Island City. In 2016, the barges were situated closer to Lower Manhattan and the Brooklyn Bridge. With this year’s opening of Hunter’s Point South Park, many thought the event would still be centered around Long Island City, but it’s the Brooklyn Bridge that will be the star.

Last year’s event was Macy’s largest since the year 2000, with 75,000 shells (3,000 of which were fired off every minute) and 20 new special effects. Macy’s will release more specifics on this year’s show in the coming months, but it will begin at 9:20pm and last 25 minutes. The best neighborhoods to see the display are Brooklyn Heights, Dumbo, the west side of the Financial District, and the southern part of the Lower East Side.

Christie Brinkley Sells Her $18M Sag Harbor Vacation Home

hristie Brinkley’s idyllic Sag Harbor home officially has a new owner. The sale closed this week for just under the final asking price of $17,990,000, though the precise amount has yet to be confirmed. The supermodel bought the five-bedroom residence in 2004 for $7,150,000 and first listed it back in 2010. As 6sqft previously reported, the 5,500-square-foot property sought its highest asking price in 2016—a cool $25,000,000 with Enzo Morabito of Douglas Elliman. The price tag was lowered incrementally until it hit $17,999,000 last summer, as Brinkley continued to search for the right buyer.

Built in 1843, the historic Hamptons home is remarkably intact, boasting a number of period details such as the majestic entryway flanked by columns, exposed wood and iron beams, wide-plank pine floors, and multiple fireplaces throughout. The Colonial-style home sits on 4.5 acres and offers panoramic harbor views. Best of all, the sprawling property includes 337 feet of private beach and there’s even a bayside Gunite pool.

Inside, the spacious residence comprises multiple living and dining areas—some formal, others more cozy—a study, and a mud room. The kitchen features classic soapstone and marble counters. Vintage signage throughout brings a whimsical character to the space. Virtually every room boasts impressive harbor views. There are five bedrooms and five-and-a-half bathrooms in total, including a stunning master suite with its own sitting room and terrace.

Brinkley has another historic Hamptons home on the market, also listed with Morabito. The expansive 20-acre compound known as Tower Hill has been on and off the market since 2002. According to the New York Post, Brinkley (who has been renting in Tribeca while her Hamptons mansions were on the market) once said she would “live in whichever one doesn’t sell first.”

A Herd Of Hungry Goats Will Save Riverside Park From Invasive Plants

The hilly terrain of the Upper West Side‘s Riverside park is becoming overgrown with invasive plant species, poison ivy included; but the green hordes will be no match for 24 goats that the park plans to unleash on the hard-to-reach patches human gardeners have had a hard time taming. The goats are being brought out of a cushy retirement upstate to graze on a fenced-in area between 119th and 125th Streets, I Love the Upper West Side blog reports.

It won’t be the first time goats roamed free in Manhattan. The name “Gotham” comes from “Goat Town,” the Old English name for the city in the early 1800s when the Upper West Side was an undeveloped backwater where goats outnumbered people. The program has been christened “Goatham” in reference to the historic horny herds.

Between the all-you-can-eat buffet–the herd will return to raze the weeds several times until the greenery stops growing back–and a planned goat popularity contest, the job might even be a step up from retirement. The goats will arrive on May 21 and munch until August 30; no news yet when the contest, which also has a place in city lore, will be, but it will give visitors a chance to gaze at the goats. Sadly, no petting is permitted. You can find out more about the goats here.

Home Prices Are Dropping Fast In These NYC Neighborhoods

NEW YORK — The Upper East Side is known for old money and tony townhouses — but home-buyers can find plenty of deals there these days, a new report shows.

Prices dropped on some 212 homes in the Upper East Side-Carnegie Hill area last month, the most for any neighborhood in the city, according to a report from the home listing website RealtyHop.

One home in the neighborhood at 834 Fifth Ave. saw $9 million come off its price, the biggest absolute decrease of any address in the city last month, the report says.

But that wasn't the only fancy part of town with dozens of discounts. The Turtle Bay-East Midtown area recorded the second-highest number of price cuts last month with 170, followed by the West Village with 140, the Lenox Hill-Roosevelt Island area with 138 and Lincoln Square with 130, RealtyHop says.

The dollar value of the Upper East Side's median price drop was $127,500, while the median decrease by percentage was 5.73%, the report shows.

But some outer-borough neighborhoods saw much sharper cuts, according to RealtyHop. Prices fell a median of 24.9% in Midwood, Brooklyn, the steepest drop in the city as a percentage, the report says.

That's the equivalent of $174,000, which was the fourth-largest decrease as a dollar amount, according to RealtyHop. The top spot in that category went to the Queensbridge-Ravenswood-Long Island City area in Queens, where the median price drop last month was a hefty $500,000, the report says.

RealtyHop's analysis uses the site's own proprietary data and includes all five boroughs. Take a look at the map to see how your neighborhood moved, or read RealtyHop's full report here.

234 East 35th Street, Unit 4

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234 East 35th Street, Unit 4

MIDTOWN EAST, MANHATTAN

2 Bed  |  1 Bath  |  Co-op

Offered At $760,000

MM: $1,472/Mo.

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Enjoy incredible comfort and ease in this meticulously renovated two-bedroom, one-bathroom home in a boutique Murray Hill cooperative.

Beautifully updated from top to bottom, you'll enjoy premium finishes and designer touches throughout this bright abode. Refinished hardwood floors and sky-high ceilings amplify light and air in the large corner living room featuring a wall of convenient closets, windows on two exposures and a stunning stone fireplace. Head to the windowed black-and-white kitchen to find great cabinetry and a full suite of top-notch stainless steel appliances, including a dishwasher and built-in microwave. Bedrooms are spacious with designer lighting and large closets, and the gorgeous bathroom features floor-to-ceiling tile, a glassed-in tub/shower and a modern vanity.

234 East 35th Street is a handsome brick building situated mid-block on a tree-lined Murray Hill street. This boutique co-op's generous board policies permit pets and subletting after two years of ownership, with approval. Featuring easy access to NoMad, the Flatiron District, Midtown and Kips Bay, the immediate area is filled with great shopping, dining and nightlife. Trader Joe's, Fairway and the AMC 15 theater are all nearby. Grand Central Terminal puts 4/5/6, 7, S and Metro-North trains minutes away, and the 34th Street Ferry Landing and Midtown Tunnel provide easy access to Queens, Brooklyn and beyond.

The Monthly Update - May 2019

Be Prepared for Rejection

Here’s a phenomenon worth considering: Co-op board rejections and non-granted waivers in condominiums based on price are far more commonplace in a buyer’s market than in a seller’s market. As a result, we are currently seeing multiple buyers forced to inflate the contract prices of the property they’re purchasing, followed by applying some sort of credit at the closing table, just so boards will give their stamp of approval or grant the required waiver.

Is this practice legal – that is debatable. But frankly, co-op boards have been doing this for years now. In Westchester, the local government recently passed a law that requires co-op boards to disclose the reason why they’ve turned down a potential purchase applicant. In New York City, however, that is certainly not the case. And if you think you’re safe purchasing a condo instead, waivers are frequently not granted for properties that show a less-than-desirable selling price. At The Hoffman Team’s most recent Monday morning meeting, a veteran of Wells Fargo with 20 years in the business told us that in just the last six months, he’s seen at least three waivers that were not granted in condominiums because of low asking prices. In fact, the condo boards decided to exercise their right of first refusal and purchase the units themselves — at a bargain, of course.

The fact is that in a buyer’s market with rapidly descending property values, co-ops and condos feel it’s necessary to “protect” their building's value by artificially inflating the price of contracts. Cash deals are the easiest to do this with as there is no limitation on the “seller's credit” back to the buyer. However, if you’re financing, all major banks will allow just 6 percent of the sale value to be credited back to the buyer — it’s called a closing credit.

The bottom line is this: We’re seeing more and more board rejections and failure to grant waivers based on price, so it’s imperative to understand that a low sales price could be rejected by the building. Yes, it’s completely unfair and should be remedied, but in today’s market, it currently goes on without regulation.

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COMPASS News

And the Webby Goes to...

Compass is delighted to be the recipient of this year's Webby Award for Best Real Estate Website! We're honored that our digital destination is helping clients like you find their place in the world every day.

Read more here.

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Compass Welcomes Stribling

We're excited to announce that Stribling & Associates has joined our growing team in the New York area! Sharing our values of collaboration, culture, and entrepreneurship, their team will be a welcome addition to the Compass family.

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Compass.com Has a New Look

We've revamped our homepage and added even more functionality to make it easier than ever to find homes you'll love. Click over today to check out properties in your area that you won't find anywhere else!

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Local Events

Five Boro Craft Beer Fest 

May 18, 2019 (4 to 9 p.m.)

Support local breweries at the Five Boro Craft Beer fest! With beer from 50+ craft breweries in the NYC area, the festival also features food from local restaurants and music by three bands. Located at the The Well in Brooklyn for age 21+, buy tickets here.

Shakespeare in the Park

May 21 - Aug. 11, 2019

An iconic NYC summer staple, Shakespeare in the Park returns on May 21st with the opening of Much Ado About Nothing. 

Hosted at Delacorte Theater in Central Park, patrons can attend by either paying to be a “supporter” or can get free tickets by joining a lottery or waiting in line. Click here for more info.

Fleet Week NYC 2019

May 22 - May 27, 2019

Ahoy, sailors! Fleet Week NYC 2019 honors the members of the United States Navy, Coast Guard and Marine Corps. Every year, the weeklong party kicks off with the Parade of Ships—a flotilla of visiting vessels and tall ships that cruise along the Hudson river—and continues with military demonstrations, a Memorial Day ceremony and more outstanding things to do around some great New York attractions.

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Manhattan Intersection Permanently Renamed To Honor ‘Sesame Street’

The city has officially renamed the intersection of West 63rd Street and Broadway in Manhattan “Sesame Street,” to honor the beloved educational program’s 50th anniversary. As part of a year-long celebration, Mayor Bill de Blasio was joined by Big Bird, Cookie Monster, Oscar, Elmo and other members of the “Sesame” crew at a renaming ceremony at the bustling West Side corner–the location of the Sesame Workshop offices. “We’re here because we believe in what Sesame Street means today and what it’s meant for half-a-century, what it’s done for our children.”

Mayor de Blasio spoke of the show’s focus on diversity of all kinds, at a time when such representation was rare, by reminding the assembled crowd that “the show made a choice long before most of the media had done it to show all of us, to represent all the people that make up our society, to show black and brown faces, young and old, male and female, and everyone on an equal footing. For my children that was profoundly important. My children, growing up in a multiracial family, to see the whole world presented through Sesame Street, was part of their growth, was part of how they gained a sense of their place in the world.”

In 2009, the city temporarily renamed a street to celebrate the show’s 40th anniversary, but this time the new street sign will stay put. The program is seen in 150 countries around the world, according to NBCNew York. A Starbucks-enhanced block near the rarified environs of Lincoln Center may not be what we envision when we’re trying to get to “Sesame Street,” but as the mayor put it, “There is also something beautiful for us watching when they were young to see our own city, even our own neighborhood portrayed in Sesame Street. And you cannot take the New York City out of Sesame Street, can you?

155 West 68th Street, Unit 1128/1127

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155 West 68th Street, Unit 1128/1127

UPPER WEST SIDE, MANHATTAN

2 Bed  |  2 Bath  | ~1,330 SqFt. |  Condo | Doorman

Offered At $2,199,000

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This rarely available 2 bedroom, 2 bath plus home office in the Dorchester Towers has been tastefully renovated throughout. The new kitchen offers a beautiful open concept with ample counter space, stainless steel appliances, soft close cabinets, and an abundance of storage. Adjacent to the kitchen is the large living room and dining area that gets flooded with natural sunlight from the eastern exposure with open city views. Both bathrooms are draped with marble walls and floors. Theensuite bathroom and the two spaciously built out walk in closets help enhance your experience of living in your king sized master suite with sliding doors that combine the bedroom plus the home office. Enjoy the convenience and a experience delivered through the full time building staff, which includes concierge and doorman, who will help you out of your car when being dropped off at the building’s porte-cochère. The building also features a fitness room, business conference room, package room, and the convenience of management on the premises.

Conveniently located moments away from destinations such as Lincoln Center Theater, Metropolitan Opera House, Lincoln Center for the Performing Arts, Central Park, Tavern on the Green, Jean-Georges Restaurant, Levain Bakery, The Julliard School, Trader Joes, Express/Local Subway lines: 1,2,3, Equinox and other health clubs.

 

Grand Central Terminal’s Departure Boards Are Going Digital

Grand Central got a questionable makeover yesterday when one half of the retro Departures board was switched to digital displays. The controversial upgrade has been in the works since March and is part of Metro-North’s Way Ahead initiative which will replace the station’s gate boards, digital track indicators, departure monitors and platform displays with a new, modern system that promises brighter, easier-to-read, and more accurate displays that can help curb congestion in the busy terminal.

Commuters have been largely critical of the change, which swapped the nostalgic Art Deco-inspired signage for a still hard-to-read blue gradient background and sans serif font. But there’s actually not a lot of history lost in the process.

Grand Central’s displays have been digital since 1996 when the original, split-flap Solari boards were replaced by an LED display made by the same company and designed to maintain the look of the analog version.

In a letter to the editor published in the New York Times in 1996, Patricia G. Horan wrote: “On July 17 the classic whirring departure board was removed from its time-honored place atop the ticket windows…On the day the old board disappeared I was standing next to a Metro-North conductor who stared at the gaping space and muttered, “Now I know why they waited for Jackie O.’s demise to do this.” Horan later added, “they’re destroying the very Grand Central Terminal they talked us into believing they’re preserving.”

The same upgrade hit Penn Station in 2016 when the Amtrak Departures board was replaced with smaller digital displays, inspiring strong reactions from the public. In addition, all of the stops along the Metro-North lost their Solari displays years ago in favor of digital ones. Even though the change isn’t surprising, it’s hard to look at the bright new boards and not feel like it’s the end of an era.

Via Twitter

NEW PRICE - 60 Sutton Place South, Unit 2HS

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60 Sutton Place South, Unit 2HS

SUTTON PLACE, MANHATTAN

1 Bed  |  1 Bath  |  Co-op | Doorman

Now Offered At $695,000

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Make lush garden views your daily backdrop in this gorgeous garden-level, one-bedroom, one-bathroom co-op home in highly sought-after Sutton Place.

Lined with oversized windows framing the building's private gardens, entire apartment fronting a secured roof garden. This spacious abode is filled with sunlight and has a rare and desirable indoor-outdoor ambiance. The outdoor wonderland, brimming with magnolias and hydrangeas paired with some architectural ingenuity produces a strikingly quiet and beautiful sanctuary that imparts a feeling of seclusion and tranquility. As a purely decorative space, the garden allows no foot traffic to interrupt your peaceful views or privacy. Tall ceilings and hardwood floors frame the bright and airy living and dining room which is large enough to configure a second bedroom out of and the adjacent kitchen offers tons of cabinet space and a convenient service entrance. The generously sized bedroom easily accommodates a king-size bed, and the windowed nook is an ideal spot for reading or lounging. Draped in Italian marble, the en suite bathroom is an upscale oasis, and four large closets placed conveniently throughout the home ensure storage will never be a concern.

60 Sutton Place South is a full service postwar cooperative boasting a circular driveway and porte-cochere entry. Residents of the pet-friendly building enjoy full-time doorman and concierge service, live-in superintendent, onsite parking garage, gym, storage, and bike room.

Located in one of New York City's most desirable enclaves, this fine neighborhood enjoys both residential tranquility and spectacular convenience. Dining, shopping, and services line the nearby streets of Midtown East, and the U.N. is just five blocks south. Situated directly across from the Sutton Place Park green, this lovely home is inches away from breathtaking East River views and outdoor space. Enjoy miles of uninterrupted waterfront paths for walking, running or biking along East River Promenade, or head under the 59th Street Bridge to find two well-maintained dog runs. Transportation is effortless from this accessible neighborhood with E, M and 6 trains and multiple bus lines nearby.

321 East 54th Street, Unit 4A

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321 East 54th Street, Unit 4A

SUTTON PLACE, MANHATTAN

1 Bed  |  1 Bath  |  Co-op | Part-Time Doorman

Offered At $575,000

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Surround yourself in gorgeous period detail and fantastic closet space in this roomy and bright one-bedroom, one-bathroom co-op home in coveted Sutton Place.

Soaring beamed ceilings, handsome hardwood floors and sunny south-facing windows greet you in this approximately 750-square-foot abode. The living room provides a generous footprint for living and dining areas, while the oversized kitchen — accessible from both the entry and living room — has been beautifully equipped with a Gaggenau oven, Fisher & Paykel refrigerator, long granite countertops and timeless black-and-white tile. Another window here emphasizes the home's near-limitless sunshine. The king-size bedroom includes a wall of closets and open sky views, and the large bathroom features classic tile, painted tin ceilings and an oversized tub/shower. Two more hall closets and another in the foyer ensure that storage will never be a concern in this handsome prewar home.

321 East 54th Street is a breathtaking 1929 brick building featuring stunning limestone and wrought-iron details. This well-maintained cooperative offers part-time doorman service from 3 p.m. to 11 p.m. seven days a week, live-in superintendent, a huge laundry room, resident storage, bike room and a glorious roof deck with stunning skyline views. Generous board policies permit pieds-à-terre, subletting after two years and cats. Sorry, no dogs.

Located in desirable Sutton Place, with immediate access to both the Upper East Side and Midtown, New York's best shops, services and restaurants surround the neighborhood. Whole Foods Market is three blocks away, world-class luxury shopping lines nearby 57th Street, and Michelin-starred restaurants, like Aquavit and The Modern, are within blocks. Enjoy glorious waterfront outdoor space along the East River promenade. Abundant transportation options include E, M/F, 4/5/6 and N/Q/R/W trains all nearby.

Macy’s May Build A Skyscraper Above Its Flagship Store

Classic retailer Macy’s Inc. is in early talks with the city about the possibility of building an 800-foot-tall office tower above the company’s Herald Square flagship location, Bloomberg reports. The retail brand, which has a 10-story office tower under construction atop its downtown Brooklyn store, is looking at ways to leverage its prime real estate in the bustling midtown crossroads. In this case, the tower would be used as office space for other companies.

The company is considering a 1.2 million-square-foot (111,500-square-meter) office tower that would probably require zoning changes around the property to allow for a height of 800 feet. It is estimated that the office tower would mean an additional 6,000 people would be heading for Herald Square to work.

Manhattan Borough President Gale Brewer has confirmed that she met with the retailer late last month about the office tower plan. Brewer said in a statement, “Such a major addition of square footage to the area will require major public improvements to the streets and sidewalks that surround the Herald Square neighborhood, and I look forward to Macy’s contributions to ensure that this part of Midtown and the Garment Center sees relief.”

The iconic flagship, opened in 1902 and expanded in 1924, was the world’s largest retail store until 2009 when it was one-upped by a South Korean department store. The new tower would sit above the older building with an entrance on 35th Street according to reports.

Macy’s CEO Jeffrey Gennette said on a February conference call with investors that the company is planning to work with city officials and community stakeholders to find a way to “unlock additional real estate value,” with more news to come later this year, and that the plans won’t stop the company from planning “a number of exciting enhancements” at the retail space this year. Gennette said, “Over the last year and a half, we have been working closely with a team of land-use, development and design experts to produce a menu of economically viable redevelopment alternatives. These could densify the real estate with complementary uses and will certainly preserve the store and enhance the customer experience.”

[Via Bloomberg]

340 East 64th Street, Unit 4G

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340 East 64th Street, Unit 4G

UPPER EAST SIDE, MANHATTAN

Conv. 3 Bed  |  2.5 Bath  |  Co-op | Doorman

Offered At $1,600,000

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Bring your contractor and create the phenomenal convertible three-bedroom, two-and-a-half bathroom home of your dreams in a revered, full-service Lenox Hill condominium.

Spanning a luxurious 1,461 square feet in one of St. Tropez's most desirable, and rarely available, floorplans, this immense home offers an incredibly flexible layout ready to suit your exact needs. Currently configured as a two-bedroom, two-bathroom, this unit can easily accommodate the addition of a bedroom in the spacious dining alcove. The massive walk-in closet near the entry includes washer-dryer hookups, making it an ideal location for a powder room addition as other G-line residents have done. (See alternate floorplan for specifics.)

This coveted layout includes wide windows framing lovely treetop neighborhood views to the north and east. There are tall ceilings throughout, a gracious foyer entry and the bright windowed kitchen is big enough for full-size appliances and ample cabinetry. The expansive master suite features an en suite bathroom and three generous closets, including two walk-ins, and the second bedroom is positioned conveniently across from the full guest bathroom. Central heat and air ensure year-round comfort in this fine Upper East Side abode.

Built in 1964, St. Tropez has the notable distinction of being New York City's very first condominium. Today, the pet-friendly red brick building continues to delight residents with updated common areas, full-time doorman and concierge service, live-in superintendent, a fitness center, heated swimming pool, children's playroom, bike room, on-site parking garage and a dazzling roof deck.

Located on a tree-lined Lenox Hill block, you'll enjoy the perfect combination of residential tranquility and easy accessibility. Great shopping, dining and nightlife line every nearby street, and Central Park and the East River promenade provide extraordinary outdoor space and recreation. Transportation is effortless with F, N/Q/R/W and 4/5/6 trains all nearby.

There is a special assessment of $410.34/mo. 

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19 Contracts Signed At $4M+ Last Week

LUXURY MARKET REPORT 2019

Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above

April 15-21, 2019

19 Contracts Signed

Nineteen contracts were signed last week at $4 million and above, a decent Easter Week total when you consider the rocky state of the Manhattan luxury market.

The No.1 contract was 10B at 150 Charles Street, asking $14.95 million--and sold in only 98 days. The condo has 3,395 square feet including 4 bedrooms and 4.5 bathrooms. A 26-foot great room, master suite, and library face the Hudson River. The owner purchased the unit off of floorplans in February 2013 and closed 3 years later for $13,275,554. Amenities include concierge, garage, fitness center, a 75-foot pool, a children’s playroom, and 33,000 square feet of landscaped garden space.

The No. 2 contract was PH3A at 1965 Broadway, asking $13.5 million. This unit in the Grand Millennium condo has 3,358 square feet including 4 bedrooms, 4.5 bathrooms, 2 terraces, and Central Park and Hudson River views. A 22’ x 28’ living room with a fireplace opens onto 30-foot terrace. The apartment needs to be renovated.

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Plans For Second-Tallest Building In The Western Hemisphere Move Forward

Just one month after closing on 5 East 51st Street, a six-floor rental across the street from St. Patrick’s Cathedral, developer Harry Macklowe has filed demolition permits with the city, as CityRealty reported. This move brings Macklowe one step closer to realizing his vision for Tower Fifth, a 1,556-foot office tower that, if approved, will become the second-tallest building in the Western Hemisphere, surpassing Macklowe’s own 432 Park Avenue and coming in just short of One World Trade Center. (Tower Fifth’s roofline would actually be 216 feet above One World Trade Center’s but since its mast brings the building’s official height to 1,776 feet it would retain the title of the city’s tallest building.)

As The New York Times pointed out earlier this year, building Tower Fifth will involve a lengthy process due to its proximity to five landmarked buildings, including Rockefeller Center and St. Patrick’s Cathedral. Alongside permission from the Landmarks Preservation Commission, Macklowe will also need to go through the city’s ULURP process to transfer air rights from St. Patrick’s. Since Tower Fifth is planned to be 66 percent larger than current zoning allows, Macklowe will require special permits, zoning approvals, and zoning changes to push the process forward. If approved, Tower Fifth would become Manhattan’s 18th supertall—a tower taller than 980 feet—that has been constructed since 2008.

As 6sqft previously reported, Macklowe Properties has tapped Gensler with Adamson Associates Architects for the design. The facade will be wrapped in a Closed Cavity system capable of reducing solar heat gain by more than 70 percent—the first of its kind in North America. The building would feature an 85-foot-high glass lobby framing St. Patrick’s Cathedral. Above the lobby, there would be shops, a food hall, and a public auditorium made of glass, overlooking the landmark. Tenant space would measure 960,000 square feet throughout the office floors, according to the architects. Amenities will include a lap pool, yoga room, and a multi-level running track.

Once complete, the building will also boast the city’s tallest observatory, from which apparently visitors will be able to descend via a 60-foot transparent corkscrew slide.

Despite the obstacles ahead, Macklowe is confident he will get another chance to redefine the city’s skyline. “Tall buildings are a reality,” he told the Times. “The days of restrictions on buildings are really over. This is a building that’s never been built before, a 21st-century building.”

[Via CityRealty]

17 Contracts Signed At $4M+ Last Week

LUXURY MARKET REPORT 2019

Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above

April 8-14, 2019

17 Contracts Signed

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Seventeen contracts were signed last week at $4 million and above, a disappointing total for the prime selling season of the year.

Stat Geek Alert: Only 3 condos were sold by developers, and of the 6 townhouses that went to contract, five were in the East 70s and 80s between Lexington and Park Avenues—and averaged under $10 million.

The No. 1 contract was PH905 at 1 West 67th Street, asking $11.995 million, reduced from $19 million when it was listed in June 2017. This triplex co-op has 4 bedrooms, 5 bathrooms, 3 powder rooms, and a 55-foot great room with over 18-foot ceilings. The top-floor master suite is surrounded by an 827-square-foot terrace. The unit is in the Hotel des Artistes, which was designed in 1917 and gained popularity with artists and actors. Amenities include doormen, a swimming pool, two workout rooms, squash court, roof garden, and the Leopard at Des Artistes restaurant.

The No. 2 contract was a townhouse at 182 East 75th Street, asking $11.5 million, reduced by $495,000 when it went on the market in March 2018. The 4-story, 18-foot-wide house has 5,850 square feet including 5 bedrooms, 6 bathrooms, a powder room, and an elevator. It was purchased for $9.28 million in May 2015 and then renovated.

400 East 77th Street, Unit 15K

400 East 77th Street, Unit 15K

UPPER EAST SIDE, MANHATTAN

3 Bed  |  2 Bath  |  Co-op | Doorman

Offered At $1,250,000

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With a spacious light and bright layout and gorgeous updates, this three-bedroom, two-bathroom co-op is the perfect high-floor haven in coveted Lenox Hill.

Spanning approximately 1,300 square feet with wide windows facing north and west, this corner home makes glorious light and endless open-sky views your constant companion. The inviting foyer is lined with roomy closets, while ahead, the huge living room stretches more than 28 feet long, providing elegant dimensions for seating and dining areas. Stunning hardwood floors pave the space, and an abundance of tall art walls welcome your collection. The convenient walk-through kitchen is stocked with top-notch stainless steel appliances, including a fully vented Jenn-Air range with convection oven, a Bosch dishwasher and a Sub-Zero refrigerator.

Head to the large master bedroom to take in eastern views, two closets and a renovated en suite bathroom with gleaming white tile and a walk-in shower. The adjacent bedroom features three more closets, ensuring storage will never be a concern here, and the second updated bathroom is positioned in the hallway. A converted third bedroom — accessible from both the kitchen and living room — could serve equally nicely as a media room or home office. Central air ensures year-round comfort in this serene Lenox Hill home.

Emery Towers is a classic white-brick postwar co-op where residents enjoy 24-hour doorman service, live-in superintendent and porters, modern laundry facilities with Wi-Fi, residents' storage and an on-site parking garage. Generous board policies permit pets and pieds-à-terre.

Located at the corner of First Avenue and 77th Street in desirable Lenox Hill, the best of the Upper East Side living can be found right outside this centrally located home. Abundant dining, nightlife and shopping are found in every direction. Central Park, John Jay Park and the East River Esplanade provide fantastic outdoor space, while the shops of Madison Avenue and the revered institutions of Fifth Avenue's Museum Mile await just a few blocks away. The Q and 6 trains and ample bus service provide effortless access to the rest of the city.