This Week’s 5 Most Expensive Listings

In the past seven days, 17 new listings priced at $10 million and above hit the market, according to StreetEasy. From that list, these are the crème de la crème, otherwise known as the five most expensive residential listings.

432 Park Avenue #Ph95

Address 432 Park Avenue #Ph95
Price $82,000,000
Type/Size Condo: six bedrooms and eight bathrooms
The most expensive property this week comes courtesy of the trash-can inspired 432 Park. At 8,255 square feet, the building’s latest penthouse listing comes with a floor plan as large as its price tag. Earlier this year, another penthouse in the building sold to Fawaz Al Hokair for $87.7 million.

212 Fifth Avenue Penthouse

Address 212 Fifth Avenue Penthouse
Price $68,500,000
Type/Size Condo: five bedrooms and eight bathrooms
Perched atop the newly restored 212 Fifth Avenue, you’ll find this sprawling triplex. The 10,079-square-foot spread comes with arches windows, private elevator entry, multiple terraces, and a private outdoor pool.

50 West Street #Ph59b

Address 50 West Street #Ph59b
Price $22,645,000
Type/Size Condo: three bedrooms and four bathrooms
This half-floor penthouse is at the newly built 50 West Street. The building will contain a total of 191 residential units, and this is the second most expensive to hit the market to date. It comes with stone slab countertops and backsplashes in the kitchen, marble bathrooms, and some pretty impressive views. Occupancy is slated for fall this year.

1 West End Avenue #29B

Address 1 West End Avenue #29B
Price $19,500,000
Type/Size Condo: four bedrooms and five-and-a-half bathrooms
This Lincoln Square spread spans 5,371 square feet and two floors. It’s at 1 West End Avenue, a building set to be completed next year. The home is expected to come with walnut plank flooring, floor-to-ceiling windows, skyline views, and electronically controlled solar shades. Although the listing does point out that, “all artists or architectural renderings, sketches, graphic materials and photos depicted or otherwise described herein are proposed and conceptual only, and based upon preliminary development plans, which are subject to change.”

550 Park Avenue #17E

Address 550 Park Avenue #17E
Price $19,500,000
Type/Size Co-op: four bedrooms and three-and-a-half bathrooms
Last, but by no means least, is this Upper East Side nine-room co-op, and it’s a refreshing break from the abundance of newly built condos which make up the rest of this week’s list. This pad comes with a private elevator landing, wood-burning fireplaces, oversized windows, Central Park views, and possibly most impressive of all, according to the listing, “being in the apartment makes one happy.”

Gwen Stefani & Gavin Rossdale’s $35M Home

The ink on Gwen Stefani and Gavin Rossdale’s divorce papers has had a chance to well and truly dry since April, so it’s not surprising that the pair’s home in the Beverly Hills Post Office area has hit the market. The spread is asking $35 million.

According to Variety, the former-couple purchased the home – which once belonged to Jennifer Lopez – in 2006 for $13.3 million.

The seven-bedroom house, which is set in a 24-hour guard gated community with its own gates and private drive, comes with a large pool, tennis court, professional gym, theater, views, privacy, outdoor kitchen and living areas, and multiple fireplaces. Plus there’s a house manager’s office, a guest house, a whole lot of marble, and some very, very quirky interiors.

Variety report that they’ve yet to discover if Stefani has found new digs, but note she has been on the hunt. Rossdale though, shelled out $7.6 million in May for a six-bedroom bachelor pad in the hills above Studio City.

This Week’s 5 Most Expensive Listings

In the past seven days, 12 new listings priced at $10 million and above hit the market, according to StreetEasy. From that list, these are the crème de la crème, otherwise known as the five most expensive residential listings.

12 East 96th Street

Address 12 East 96th Street
Price $19,500,000
Type/Size Townhouse: 14 bedrooms and 17 bathrooms
This 17,400-square-foot townhouse isn’t just the most expensive listing of the week, we’d hazard a guess that it’s the biggest too. Built in 1916 by Ogden Codman, Jr., it was once home to Robert Livingston, a blue-blooded American financier, but since 1990 the house has been home to the Italian international school, La Scuola d’Italia Guglielmo Marconi. It comes with seven stories, an elevator, a wood paneled ballroom, seven fireplaces, high ceilings, and a garden.

48 East 91st Street

Address 48 East 91st Street
Price $18,500,000
Type/Size Townhouse: four bedrooms and five bathrooms
On East 91st Street you’ll find this 20-foot-wide townhouse, which comes with high ceilings, large windows, custom molding, a library, a formal living room with a wood-burning fireplace opens, multiple terraces, and a landscaped garden. According to city records, the owner is Leslie Harwood Ehrlich.

178 East 94th Street

Address 178 East 94th Street
Price $18,000,000
Type/Size Townhouse: six bedrooms and six bathrooms
Upper East Side townhouses reign supreme this week. There is an unfortunate lack of listing photos for this spread, but we do know the home took two years to design and build, and that is has herringbone oak floors, paneled doors, and grand moldings throughout, along with a garage, a large elevator, and a roof terrace.

56 East 66th Street

Address 56 East 66th Street
Price $17,950,000
Type/Size Townhouse: five bedrooms and five bathrooms
This spread offers a chance to live next door to Andy Warhol’s former home, which is quite a selling point if you ask us! The listing though, seems to suggest work is needed to get the home up to the standards of the renderings provided, and the word “potential” is used more than once.

1 Central Park South #1801

Address 1 Central Park South #1801
Price $17,900,000
Type/Size Condo: four bedrooms and three-and-a-half bathrooms
You’ll find this pretty condo at the Plaza Hotel. It comes with detailed moldings, wood and marble inlaid floors, and some flawless stained-glass ceilings. It’s owned by fertilizer tycoon Bolat Nazarbayev, who is the brother of the president of Kazakhstan.

,

421 Hudson Street, Unit 717/18/19

,

421 Hudson Street, Unit 717/18/19

WEST VILLAGE, MANHATTAN

5 Bed  |  5.5 Bath  |  24 Hour Doorman  |  Roof Deck

Offered At $8,250,000

 

Loft living at its best

Rare opportunity to own more than 3,600 feet in the iconic Printing House. Soaring double height ceilings and oversized west facing windows with Hudson River views on coveted high floor. These 2 unique duplex apartments can be combined to create the five bedroom, five and a half bath of your dreams.

The Printing House has a 24hr doorman, valet cleaning service, private storage and bicycle storage (available for rent), central laundry room, and a flagship Equinox Health Club including an outdoor rooftop swimming pool and terrace. Extremely low common charges and real estate taxes make this apartment perfect for a primary home, an investment property or a spectacular pied-a-terre.

13 Tips To Become Better At Small Talk

In a recent article for Wired magazine, Kristin Berman and behavioral economist Dan Ariely share their experience hosting a dinner party with one key rule: "Absolutely no small talk."

Apparently, the guests were all the happier for it — and the authors conclude in their headline that "small talk should be banned."

Whether this sounds to you like a great idea or a terrifying prospect, the fact is that most event organizers won't go so far as to prohibit small talk — so you'd best get good at it.

To help you out, we checked out Quora, Reddit, and other resources, and highlighted some of the best tips for upping your small-talk game. You can even make a habit of practicing with strangers you'll probably never see again, since research suggests that making conversation with fellow commuters leaves people happier.

Read on to impress new acquaintances — and yourself — with your masterful conversation skills.

1. Demonstrate interest in your conversation partner

Several Quora users noted that the best way to keep a conversation rolling is to show you care about what the other person has to say.

"If you don't fundamentally care about the person you are speaking with, that will show, and that may be the primary reason why you are running out of things to discuss," writes Kai Peter Chang.

That also means letting your conversation partner share information about himself or herself.

"Let the other person speak more," writes Anam Gulraiz. "People LOVE talking about themselves."

2. Ask open-ended questions

Instead of asking yes/no questions that lead to dead ends, encourage your conversation partner to share some more detail about his or her life.

"In general, open-ended questions lead to more conversational paths," says Craig Welland.

For example, instead of asking a fellow party guest, "Are you here with your family?" you might ask, "How did you meet the host?"

3. Allow your conversation partner to teach you

"If there's a subject you're not familiar with, just be honest with that person and nine out of 10 times they'll teach you about it," writes Michael Wong.

It goes back to that central idea of letting other people do most of the talking. Asking the other person to explain what they mean implies they'll be talking for at least another few minutes.

4. Read the news

In the days leading up to a social function, take time to peruse the news, "including the sections that don't really interest you," writes Mark Simchock.

That way, if a conversation should come to an abrupt halt, you can fill the silence with, "Hey, did you hear about …" or "Man, how about that … ?"

5. Share anecdotes

Don't hesitate to let your conversation partner know that you can relate to what he or she is telling you, says Ellen Vrana.

"This forms a bond," she adds.

For example, if your partner says he or she spent time living in another country and you did as well, share a story or two about your years abroad. You'll likely prompt the other person to tell you about some similar memories.

6. Practice the FORM technique

Robert Adams uses a special mnemonic to keep conversations flowing easily:

  • F-amily: Do you have kids? Where is your family from? How long have you lived around here?
  • O-ccupation: What do you do for a living? What is that like? Have you always been a circus acrobat?
  • R-ecreation: What do you guys do for fun? How long have you been involved in SCA? Where do you buy chain-mail, or did you make it yourself?
  • M-oney:  What happened with the price of gas? Did you see that last school-bond issue? How do you think the new liquor-store laws will shake out? Anybody you know lose their job lately?

7. Be honest

"There's nothing wrong with just saying, 'You know, I hate small talk, so how about we talk about something big?'" writes Derek Scruggs.

Chances are, your conversation partner will feel somewhat relieved.

Scruggs recommends having on hand a few "big" questions that promote intimacy, including, "What's something that scared you today?" and "Are you happy with your current lifestyle?"

8. Copy good conversationalists

"Listen to comedians, listen to talk show hosts, listen to real people,"recommends Edahn Small.

Try to remember the kinds of questions they ask, how they follow up on the other person's answers, and even how they make use of silence. Chances are good that they learned the same way.

9. Boost your conversation partner's self-esteem

Flatter people in order to capture and hold their interest, suggests Joe Goebel.

"Try to make everyone you talk with feel a little better about themselves after having met and talked to you," he writes.

10. Practice with everyone you meet

Whether it's the doorman at work or a fellow passenger on the train, try your hand at small talk with everyone, says Rohan Sinha.

Eventually, you'll start feeling more comfortable striking up and maintaining interesting conversations.

11. Use the ARE format

Andrian Iliopoulos uses a method from communications expert Carol Fleming:

  • A-nchor: Find something you two have in common right now. For example, "This cocktail is really fancy, what’s in it?"
  • R-eveal: Share something personal with the other person. For example, "I tried a similar cocktail at a beach bar in Malibu last year and it blew me away."
  • E-ncourage: Invite them to share something personal. For example, "I can see it in your eyes that you hate cocktails. You are more of a whiskey drinker, aren’t you?"

12. Ask a better version of, 'What do you do?'

In a 2013 blog post, bestselling author Gretchen Rubin suggests asking people you meet: "What's keeping you busy these days?"

Writes Rubin, "It’s useful because it allows people to choose their focus (work, volunteer, family, hobby) — preferable to the inevitable question (well, inevitable at least in New York City): 'What do you do?'"

13. Know that other people feel weird, too

"You are totally not alone in feeling awkward or shy," writes Tammy_Tangerine on Reddit. "Other people are struggling with that as well, and these feelings are totally ok and nothing to feel ashamed about."

She adds that even people who look incredibly confident may be struggling with the same self-doubts that you are.

This Week’s 5 Most Expensive Listings

In the past seven days, 16 new listings priced at $10 million and above hit the market, according to StreetEasy. From that list, these are the crème de la crème, otherwise known as the five most expensive residential listings.

240 Centre Street Penthouse

Address 240 Centre Street Penthouse
Price $35,000,000
Type/Size Co-op: four bedrooms and four-and-a-half bathrooms
This week’s most expensive listing is the very cool Police Building penthouse, its not new to the market, nor does it have a new price-tag, but it does have a new broker. It comes with a bucket-load of character, a spiral staircase, an elevator and a circular living room, all of which we got to witness for ourselves when we toured the pad back in March.

993 Fifth Avenue #11FLR

Address 993 Fifth Avenue #11FLR
Price $27,900,000
Type/Size Co-op: five bedrooms and six-and-a-half bathrooms
This full floor spread at the swanky, Emery Roth-designed 993 Fifth Avenue is almost exactly what you’d expect from… a full floor spread at the swanky, Emery Roth-designed 993 Fifth Avenue. It has classic New York charm plus a private elevator landing, a wood burning fireplace, a library, and Central Park Views.

25 Columbus Circle #67CE

Address 25 Columbus Circle #67CE
Price $18,950,000
Type/Size Condo: five bedrooms and six bathrooms
This listing’s a chance for two to become one at the Time Warner Center. Combined, the apartments will total almost 4,000 square feet and will come with eastern, southern and western exposures, a chef’s kitchen, abundant closet space, and opulent marble baths.

150 Central Park South #2501

Address 150 Central Park South #2501
Price $16,000,000
Type/Size Co-op: three bedrooms and three-and-a-half bathrooms
If we had to pick one of these listings to live in, it would almost certainly be this one. The sprawling spread has been recently gut renovated and comes designed by Tui Pranich. It has a library with custom cabinetry, a private elevator landing, and 45 feet of windows and terraces looking out directly onto Central Park.

1060 Fifth Avenue #2B

Address 1060 Fifth Avenue #2B
Price $15,500,000
Type/Size Co-op: five bedrooms and six bathrooms
“Breathtakingly elegant and majestic”, reads this apartment’s listing. The flamboyant spread comes with art walls, wood-burning fireplaces, 48 feet of Central Park frontage and a lot of extravagant details. Plus, right now it’s almost half the price it was asking when it first hit the market in 2014.

$32M Texas Mega Mansion Has a Waterpark & Much More

This Dallas, Texas mansion, currently on the market for $32,347,000, is our new favorite mansion and it’s not even close.

The residence itself would be enough to be worth highlighting, with its eight bedrooms, 17.5 bathrooms (17.5 bathrooms!), many ornate chandeliers, fireplaces, gilding, full-size indoor basketball court, multiple game rooms (including at least one bowling alley), ten-car garage, et cetera, et cetera. And that’s before you even get to the backyard.

Because in the backyard, you see, there is a waterpark. A genuine waterpark, with a huge waterslide, jungle gym-type thing, waterfall, fake rock formation, large pool, two cabanas, and a whole bunch of palm trees. There’s also a tennis court and an in-ground trampoline, which is not something that we are sure we’ve seen before.

This is truly the mullet of mansions: business in the front (more or less), and definitely one hundred percent party in the back.

,

Bethenny Frankel Lists Large Tribeca Loft

,

Bethenny Frankel, “Real Housewives of New York City” star and outspoken founder of the Skinny Girl empire, finalized her divorce from ex-husband Jason Hoppy over the summer after four long years. Perhaps the most contentious part of the legal battle was that he remained in the Tribeca loft that she purchased in 2011 for just under $5 million while she hotel-hopped (she notoriously referred to herself as “the richest homeless person in Manhattan”). But things seem to be turning around for Frankel; she bought and renovated a $4.2 million Soho loft back in April 2015, and she’s now finally listed the Tribeca condo for an impressive $6.95 million, reports Variety. The four-bedroom corner spread at 195 Hudson Street is cool and contemporary and boasts luxe details such as a 180-bottle wine fridge, decked-out closet/dressing room, and totally custom office (which made many an appearance on the Bravo reality show).

A polished nickel entryway leads to the large living/dining room and kitchen, which is outfitted with sleek white Poggen Pohl cabinetry, Ceasarstone counters, and high-end appliances including an InSinkErator, full-size wine fridge, and built-in espresso machine. Throughout, you’ll find nearly 12-foot ceilings, heroic columns, and hardwood floors.

The master suite has a walk-in dressing room with an entire wall of closets. The master bath has dual sinks, a Toto toilet and bidet, soaking tub, and steam shower.

The other two bedrooms are connected by a Jack-and-Jill bath.

Other features of the loft include a laundry room and private storage room on the same floor, manual solar shades, and a deeded private indoor parking spot.

Not surprisingly, the listing is held by Fredrik Eklund and John Gomes of Bravo’s other hit “Million Dollar Listing.” We’d bet that Frankel and her loft will be appearing on the next season.

, ,

Inside Look: 4 apartments for Manhattan bachelors

, ,

 

It may be hard to be a single woman in NYC, but for single dudes who enjoy the bachelor lifestyle, the city can be their perfect playground.

A 2015 New York Post article states that there are 38 percent more young female college grads than male. A 2014 Brick Underground article puts the citywide male-to-female breakdown as 53 percent female and 47 percent male.

Even with a good supply of dates, a New York City bachelor needs the perfect pad to call home (and to take his dates home to). Here are four that work for the single lifestyle.

This one-bedroom, one-bathroom Soho penthouse features large windows to let in the light and terrace off the dining room. The kitchen features stainless steel, colored lacquer, cerused oak, granite, porcelain tile, and the living spaces are polished concrete with a subtle matte finish. Additional features features include a Sonos music system with five speaker zones, and plenty of storage.

419 W. 55th St.
$1,995,000

This condo-op has a modern industrial style with 14-foot, poured concrete ceilings, oversized windows and skyline views. The two-bedroom, two-bathroom, plus home office is located in a building that was converted from a warehouse and features a virtual doorman and package room.

123 Washington St.
$3,100,000

Located in the Financial District’s W New York Downtown Residences & hotels, this penthouse has views of the Hudson and Statue of Liberty. The apartment may only have one bedroom and one bathroom in 708 square feet, but has 15-foot high ceilings. The floors are ebonized maple hardwood, and the kitchen features Italian lacquer cabinetry with Corian countertops and a glass backsplash. The bathrooms have stainless steel towel warmers and Toto toilets.

421 Hudson Street
$4,100,000

Described as an “industrial chic loft,” this West Village duplex has two bedrooms and three-and-a-half-bedrooms. The home features wall-to-wall windows with views of the Hudson, and a professional chef's kitchen lined in stainless steel. Bedrooms are located on the upper level and accessed by individual steel staircases, with the master suite featuring a large walk-in closet with floor-to-ceiling storage. The duplex is located in a full-service condominium with a doorman and concierge services, landscaped private mews, and access to an on site Equinox health club.

NYC Is Still #1 In The Nation

Cities do not succeed or fail by accident. Various factors result in some prospering and others withering away. While things such as geography, weather and national or global forces are beyond their control, decisions by the public and private sectors play a large role. Thus, it is helpful to periodically re-examine how New York is doing relative to its peers and to reflect on what is working and what needs work.

A scorecard on New York City’s competitiveness released last week by the Citizens Budget Commission attempts to do that. New York was deemed the best of the nation’s 14 largest metropolitan areas, followed by Los Angeles, Chicago, Dallas and Silicon Valley. We also have the most people—21 million—which is both a cause and an effect of our high score. Not coincidentally, the San Antonio area, which ranked last overall, is the smallest, with just 2 million inhabitants.

NYC Scorecard
Full Report Here

What sets New York apart? Let us count the ways. We have the most highly educated people, including the most young ones; the most Fortune 500 companies; the most jobs in key industries; the most educational institutions and international students; the most self-employed; and thelowest crime rate. In all, we topped the rankings in nine of the 30 categories and were second in five others, among them bars and restaurants per capita, average annual pay and venture-capital deals and dollars.

The Big Apple is nicely positioned to benefit from the broader trend of people—especially young adults—choosing the dynamism of cities (now that crime is low in so many of them) over the quietude and tedium of suburbia. Companies are following talent; job postings in urban areas draw four or five times as many applicants as in the ’burbs.

The problem with being popular is that housing costs rise when demand outpaces development. New York ranked 11th in rent affordability, which pushes people far from job centers to find cheaper housing. That helps to explain our only last-place finish: in the commute-time category. But both of these grades are deceiving:

Buying MetroCards costs less than owning a car, so when our transportation expenses and higher wages are considered, living in New York is only slightly more costly than average. And while mass transit can be slow, a commuter can be productive when not driving. So we must accelerate development around subway lines and provide Wi-Fi on all trains and buses.

Our only other weak spots were broadband access (seventh place) and park acreage per capita(12th). These deficits are evident in the high demand for access to Verizon’s FiOS service and the crowds at any quality green space. Staying ahead of rival cities requires prioritizing these areas—and maintaining our leads in all the others. — THE EDITORS

Kylie Jenner Adds $12M Mansion To Her Ever Expanding Portfolio

According to Trulia, the 19-year-old has just snapped up another home in Hidden Hills, California. The mansion, which was listed for $12.4 million, is her third real estate purchase since May, and by far the most expensive.

Built in 2015, the eight bedroom, Cape Cod style home spans 13,200 square feet and sits on 1.4-acres. It comes with a gourmet kitchen, a home theater, sliding walls of glass, a game room, wine storage, a gym, a massage room, a pool, and a spa.

Plus there’s a private one-bedroom guest house with a kitchenette, sitting room, separate entrance, and courtyard.

This recent acquisition joins the $6 million Hidden Hills spread Jenner bought back in May, along with the neighboring $4.5 million home she nabbed in August.

Plus there’s the property she still owns in the nearby gated Calabasas community. That one’s on the market for $3.9 million.

We can’t wait to see how much of Hidden Hills the youngest member of the Jenner/Kardashian clan will own before she turns 21.

Marc and Rory Shevin of Berkshire Hathaway HomeServices had the listing. [Trulia]

3Q16 Manhattan Market Report

 

3Q16 Manhattan Market Report

This report highlights the prevailing trends shaping the market from this past quarter and provides a glimpse into the research and data analytics in which Compass prides itself.

Download Report HERE

 

 

 

 

Highlighting a few trends:

  • The total number of closings in the third quarter (2,739) was below expectations, down 25% compared to the third quarter last year. However, total contracts signed exhibited a more modest decline (-8% Y-o-Y) and actually increased year-over-year for co-op units priced between $1M and $3M. When considering these figures, it is important to remember the variable lag time between contract signing date and closing date as well as the unpredictable closing schedules of new development condominiums, which make up an increasingly large percentage of the over market.
  • Available inventory is seemingly disconnected from the demands of the market at this moment in time, as units priced above $3M make up 28% of inventory and less than 14% of contracts signed. Co-op inventory is limited (45% of total inventory) and demand is high (54% of contracts signed) as asking prices continue to rise in the condo market.
  • The median price of active condo units was $2.3M in the third quarter, up 10% year-over-year and 44% higher than the median contract price of condo units this quarter ($1.6M). Them median closing price for condos ($1.65M) was a 10% increase compared to the third quarter last year, while the median closing price for co-op units set a new high at $820K. 

This Week’s 5 Most Expensive Listings

In the past seven days, 11 new listings priced at $10 million and above hit the market, according to StreetEasy. From that list, these are the crème de la crème, otherwise known as the five most expensive residential listings.

730 Park Avenue #15C

Address 730 Park Avenue #15C
Price $19,995,000
Type/Size Co-op: three bedrooms and four bathrooms
This week’s most expensive listing is this swanky Upper East Side co-op with Central Park views. It comes with a cozy solarium, a library, a wood-burning fireplace, custom cabinetry, a private terrace, a maid’s room, and a host of original details including wood floors and period fixtures and moldings.

100 Eleventh Avenue 19th Floor

Address 100 Eleventh Avenue 19th Floor
Price $19,600,000
Type/Size Condo: six bedrooms and six-and-a-half bathrooms
This listing is a conversation opportunity; buy the two apartments and you can combine them to create a sizable full-floor spread. When joined they’ll total 5,750 square feet and come with 360-degree views. Meanwhile, the Jean Nouvel-designed building enjoys amenities including a garden, fitness center, sauna, and steam rooms.

551 West 21st Street #16A

Address 551 West 21st Street #16A
Price $19,500,000
Type/Size Condo: four bedrooms and four-and-a-half bathrooms
Like the rest of our list, this sun-filled West Chelsea spread comes with views aplenty.  It also has direct elevator access, 11-foot-high ceilings, oak herringbone floors, and 9-foot-high double doors. But most interesting of all, according to StreetEasy, it was snapped up just weeks ago for $16.9 million, possibly by owners looking for a fast and profitable flip.

1965 Broadway #Phb3

Address 1965 Broadway #Phb3
Price $19,000,000
Type/Size Condo: four bedrooms and four-and-a-half bathrooms
This week’s “Most Expensive” list may as well be called the “$19 Million Club”. Built in 1997 this Lincoln Center spread has a 1,000-square-foot private, landscaped terrace, over 65 feet of floor to ceiling windows, a free-floating, four-sided bronze and glass fireplace, a stone and wood bar, and a drop down movie screen.

35 East 76th Street 1901-1907

Address 35 East 76th Street 1901-1907
Price $13,500,000
Type/Size Co-op
This is by far the oddest unit we’ve seen for a while. According to the listing, for the past two years, this spread has been on the receiving end of, “an extensive amount of design and architectural planning to create a clean white space.” The spread currently comes with… not much at all besides some Central Park views and a lot of bare walls. We can’t help but wonder what it looked like before.

Monthly Update - October 2016

Bubbles, Bubbles, Bubbles 

If you watched the last presidential debate, there was talk of bubbles. In fact, bubbles have been on the minds of many lately.

During the debate, Trump told us there’s a "big, fat, ugly market bubble, folks." But Wall Street doesn't necessarily agree. Meanwhile, billionaire Wang Jianli, one of the largest real estate investors in China, was quoted as saying that market faces the "biggest bubble in history."

Top real estate brokers have looked at the possibility of  a future surge of Chinese investment into the U.S. And UBS Group’s Global Real Estate Bubble Index also shows New York City well-positioned. The ranking of 18 major cities by their housing bubble risk categorizes New York City as "fairly valued," close to bottom of list, while Vancouver and London are placed at the top of the list and deemed at risk.

Again, this market is anybody's guess. Despite the frequent talk of bubbles, owners need to be most aware of buyer trends. Buyers are still not forking over any amount of dough just for the sake of "getting into the market." That being said, bidding wars are happening, and buyers are calling the shots. When buyers perceive a property as a "value," they will act with reckless abandon to "win" it, and, consequently are setting new record prices in buildings across the city.

Things to look out for:

  • The Fed has yet to increase interest rates.
  • Every few months, it seems the house market holds its breath. Sometimes, these ebbs and flows are simply cyclical.
  • The presidential election, and reactions to the election, will have an impact, no matter who's elected, one month from now, and there's plenty of pent-up demand from buyers waiting on that outcome.
  • Continued low resale inventory combined with new development condo and rental building units set to release in 2017, will continue to have an impact on the New York City real estate landscape.

For now, we should sit back, make smart decisions based on facts, not paranoia, and see what the next few weeks bring.

Buckle up!

 

The Numbers:

In September we saw a large increase in inventory, which means everyone is finally back from summer vacation. Overall there was an increase of 47%, with the biggest additions in the 2 and 3+ bed categories. 

There was a 75% increase in new inventory for the 3+ beds, and an increase of 53% for new 2 bed listings. 

The Hoffman Team Listings 

COMPASS Press:

 

Think You Know What Your Home Is Worth?
 

Lets see about that, click HERE and receive a comprehensive up-to-date CMA Valuation Report.

The Hoffman Team at COMPASS  |  90 5th Ave. 3rd Fl. NY, NY 10011  |  646.519.4490

,

REVEALED: Plans New Penn Station-Moynihan Train Hall Complex

,

In a presentation (pdf) Tuesday at the Association for a Better New York, Governor Andrew Cuomo announced that plans for transforming a revamped Penn Station-Moynihan Train Hall complex into a “world-class 21st century transportation hub” were back on track and ready to roll, complete with a slew of new renderings and the selection of a developer-builder team including the Related Companies, Vornado, and Skanska AB, to redevelop the Farley Building.

With more than twice the passenger traffic of JFK, LaGuardia, and Newark airports combined, the governor called the current Penn Station, “overcrowded, decrepit, and claustrophobic” and promised the new Moynihan Train Hall “will have more space than Grand Central’s main concourse, housing both Amtrak and LIRR ticketing and waiting areas, along with state-of-the-art security features, a modern, digital passenger experience, and a host of dining and retail options.”

In the first of the project’s two major parts, McKim, Mead & White’s 1913 Beaux-Arts James A. Farley Post Office will be the site of a newly-constructed 255,000-square-foot train hall that will serve both Amtrak and Long Island Rail Road passengers. Moynihan Train Hall, as it will be known, will hold more than 112,000 square feet of retail and 588,000 square feet of office space in addition to ticketing and waiting areas for the two train lines.

The new hall will employ state-of-the-art security measures and high-tech additions like free wifi and charging stations. Renderings have been based on designs by the architecture firm of Skidmore, Owings & Merrill (SOM) who have been attached to the project since its earliest stages. The Governor’s presentation states that, “A number of design concepts, including those received through the RFEI process, are under review that would add retail and improve passenger experience and station function.” It is possible that the selected team could proceed with a different firm.

In addition to the new hub, the MTA will thoroughly revamp the existing Penn Station’s 33rd Street LIRR concourse. This redesign will nearly triple the width of the existing corridor and result in higher ceilings, brighter lighting and new way-finding, ticketing and informational systems.

Also included in the plan is a complete renovation of both Penn Station subway stations—the A/C/E at Eighth Avenue and the 1/2/3 at Seventh Avenue–as per MTA plans, announced earlier this year, to update dozens of subway stations throughout the system.

Similar to the renderings released in January, the plans show a new glass skylight above the concourse, meant to reference the original Penn Station design, integrated into the building’s historic and architecturally dramatic steel trusses. From the architect’s description: “SOM’s design establishes a grand civic space that celebrates the unique history of the Farley Building while evoking the vaulted concourse of the original Penn Station.”

Cuomo has said the cost of the Train Hall project will be about $1.6 billion; $600 million will come from the developer of the hall’s retail space, $570 million will come from the Empire State Development Corporation and $425 million will come from Amtrak, LIRR, the Port Authority, and the federal government. The Penn Station LIRR corridor revamp will ring in at $170 million; the subway station facelifts will cost $50 million and could happen “as early as 2018.”

6sqft reported in December of last year that “… after a promise to close this year on the deal [with Related and Vornado] was left empty, Governor Cuomo seems to have had enough” of the long-stalled project, and in January posted renderings and an outline of the governor’s plans for a reboot with possible new partners on board.

650,000 people travel through Penn Station every day, more than the traffic at Newark, JFK, and LaGuardia airports combined. And if all goes according to plan, Governor Cuomo projects that number will double over the next 15 years. The project is scheduled to be completed in 2020.

,

432 West 52nd Street, Unit 6F

,

432 West 52nd Street, Unit 6F

HELL'S KITCHEN, MANHATTAN

1 Bed  |  1 Bath

Offered At $1,080,000

Taxes: $950 / mo.  |  CC:$847 / mo.  |  New Development  |  24hr Doorman  |  Roof Deck & Gym

 

Spectacular views and stunning finishes line this brand-new, penthouse-level home providing a rare opportunity to live in a spectacular new-construction building without paying the sponsor’s transfer taxes and closing cost fees!

Beautiful views from a long row of oversized north-facing windows make this one of the most desirable apartments in the building. The light-filled one-bedroom, one-bath home is topped by 9-foot ceilings while white oak hardwood floors run underfoot. The great room provides ample space for living and dining areas while the nearby open kitchen is a model of efficient, attractive design with integrated refrigerator, stainless steel appliances, lacquer cabinets and sleek Caesarstone countertops.

The large windowed bedroom is a serene space with a large closet, and two more large closets throughout the home ensure that storage is never an issue. The sleek bathroom features a custom vanity, frameless glass walk-in shower, gorgeous floor-to-ceiling tile and radiant heat flooring. Central climate control, energy-efficient windows and an in-unit washer-dryer provide the ultimate in comfort and convenience.

432 W 52 is a boutique condominium with extensive amenities including a 4,200-square-foot common landscaped roof deck, spacious residents' lounge, fully equipped fitness center and 24-hour doorman. Situated in Midtown within walking distance of Central Park, the Theater District, Columbus Circle and Times Square, the location is quite literally at the center of it all! Nearby access to the A/C/E, B/D, 1 and N/Q/R subway lines puts the rest of the city at your feet.

Neighborhood Guide HERE

This Week’s 5 Most Expensive Listings

In the past seven days, 18 new listings priced at $10 million and above hit the market, according to StreetEasy. From that list, these are the crème de la crème, otherwise known as the five most expensive residential listings.

19 West 12th Street

Address 19 West 12th Street
Price $28,500,000
Type/Size Townhouse: six bedrooms and six-and-a-half-bathrooms
This red-brick townhouse has the honor of being this week’s most expensive listing. The five-story home comes with 12-foot ceilings, a lush looking garden, a roof deck, a flawless Calacatta marble bathroom, and a very snazzy orange kitchen.

33 East 74th Street #5A

Address 33 East 74th Street #5A
Price $18,000,000
Type/Size Condo: four bedrooms and three-and-a-half-bathrooms
33 East 74th Street started life as a row of brownstones, but a recent conversion saw them turned them into this 10-unit condo building. This 3,851-square-foot unit has an open-plan living and dining area, hardwood floors, a custom kitchen and oversized windows.

160 Leroy Street South14a

Address 160 Leroy Street South14a
Price $16,500,000
Type/Size Condo: four bedrooms and four-and-a-half-bathrooms
This week’s third most expensive listing is at Ian Schrager’s 160 Leroy Street, a building which is still under construction. When completed, this apartment will have an abundance of wall space for art, floor-to-ceiling windows, some impressive views and of course some very sinuous walls.

514 West 24th Street #8

Address 514 West 24th Street #8
Price $16,500,000
Type/Size Condo: four bedrooms and five-and-a-half-bathrooms
Not only is this West Chelsea spread the same price as the above, the two also both have an estimated completion date of 2017. This 4,512-square-foot apartment comes with a private elevator landing, twin terraces, a library, and a master bathroom featuring a copper soaking tub. It’s located in the art-deco style Fitzroy building; and if this was a ranking of LLNYC’s favorite facades, this would be top of the list.

57 West 88th Street

Address 57 West 88th Street
Price $15,995,000
Type/Size Townhouse: five bedrooms and seven bathrooms
Built in 1900, this 20-foot-wide townhouse is both landmarked and renovated. The house is home to a gym, a wine cellar, a private elevator, an eat-in kitchen, multiple terraces and a garden. The master bathroom might be the main attraction though, just look at that wall of Styra marble.

,

Park Avenue Apartment Proves That Beautiful Things Come In Tiny Packages

,

Most tiny New York apartments are terrifying. But in the right hands, they can be turned into something amazing. That’s the case for this Park Avenue South condo, which is owned by interior designer Amir Khamneipur and which he listed today for $1.775 million.

Though the place comes in at less than 700 square feet (669 to be exact), cleverly placed windows and mirrors make it seem much, much bigger. The home was featured in the July issue of “House, Beautiful” and a 2014 article in the “Wall Street Journal,” where Khamneipur described all the tips and tricks he used to give the small apartment the feeling of space.  “I would rather live in a custom jewel box than a badly designed mansion,” he told “House, Beautiful.” “This apartment brings me such joy.”

The apartment has one bedroom, one and a half bathrooms, 14-foot ceilings, 10-foot doors and custom, double-height cabinetry. Everything in the space was custom-designed by Khamneipur, and listing agent Claudia Saez-Fromm of Town Residential tellsLLNYC that a buyer may be able to negotiate with Khamneipur to include the furniture with the sale.

Saez-Fromm says Khamneipur decided to sell because he received  interest in the apartment after the “House, Beautiful” piece and he wants to upgrade to a two-bedroom.

Check out NYPL’s New $2.6M ‘Book Train’ Conveyor System

Last week, the New York Public Library released stunning photographs of the renovation of its historic Rose Main Reading Room and Bill Blass Public Catalog Room, along with news that the spaces would be reopening to the public on October 5th. As of this day, when guests request research materials, they’ll come from a new, $23 million state-of-the-art storage facility below Bryant Park. To bring the materials up, the library installed an innovative conveyor system known as the “book train,” which, according to a press release, “consists of 24 individual red cars that run on rails and can seamlessly and automatically transition from horizontal to vertical motion,” transporting up to 30 pounds of materials at a time in just five minutes.

 

New York Public Library Rose Main Reading Room, NYPL restoration, Stephen A. Schwarzman Building, Rose Reading Room
The renovated Rose Main Reading Room via Max Touhey Photography

The $23 million storage facility came after a previous, controversial plan to move the research collection to New Jersey. As 6sqft explained, “The new space will hold 4.3 million research volumes, allowing the Library to ‘fill over 90 percent of research requests with materials located on-site.'”

,

200 East 57th Street, Unit 7M

,

200 East 57th Street, Unit 7M

MIDTOWN EAST, MANHATTAN

3 Bed  |  2 Bath

Offered At $2,495,000

Maintenance: $2,864 /mo.  |  Co-op  |  24hr Doorman  |  Roof Deck, Gym & Garage 

 

This brand-new apartment has just emerged from a year-long, top-to-bottom renovation to bring you a triple-mint three-bedroom, two-bathroom home like no other in the building or neighborhood.

The massive, west-facing great room is almost 40 feet long — perfect for entertaining — paved in wide-plank flooring and topped by a lovely tray ceiling and custom lighting. In the nearby open kitchen, you'll find an extra-large window capturing Third Avenue views, and filling both the kitchen and dining room with great light. The custom cabinetry is chic with solid dark wood lowers contrasting the high-gloss white upper cabinets while pristine Caesarstone countertops surround top- of-the-line appliances. 

All three well-appointed bedrooms are spacious and feature a great closet space. The master bedroom is lined with custom built-ins and a luxe en suite marble bathroom. Surround sound, in-unit Bosch washer and dryer, and ample storage and custom closet space round out this beautiful and comfortable home. As an added bonus, all utilities are included in the maintenance.

200 East 57th Street is a full-service, 24-hour doorman building offering a fitness center, planted roof deck, private storage, bike storage and parking garage. There's a Whole Foods Market just down the block, and the world-renowned Madison Avenue and 57th Street shopping corridors are minutes away. New York's best restaurants surround the neighborhood, while Rockefeller Center and Radio City Music Hall provide unlimited entertainment options. Subway access is superb with 4/5/6, N/Q/R and E/M service nearby.

More Information Here

Unit 7M Floor Plan

Your new home awaits.

Start the process →