Kim Kardashian Spent $380K On Jackie Kennedy’s Watch

On Wednesday night in New York City, a gold Cartier watch once owned by Jackie Kennedy hit the auction block. Expected to fetch $120,000, the time piece sold for $379,500 to an (at the time) anonymous bidder.

Surely the buyer would turn out to be a pillar of poise and grace, just like Kennedy herself? The gossip queens over at TMZ spoke to auction sources who revealed the identity of the buyer shortly after the sale. It was none other than… Kim Kardashian West.

But don’t expect to see it being flaunted on Instagram any time soon, Kardashian West is reportedly being far more careful about flaunting her assets since being robbed at gun point last year.

The watch, a gift from Kennedy’s brother-in-law Prince Stanislaw “Stas” Radziwill, is engraved “Stas to Jackie, 23 Feb. 63. 2:05 AM TO 9:35 PM.” According to the lot, the times refer to the start and stop times of the famous 50 Mile Hike that Radziwill completed in Palm Beach in 1963.

After Jackie received the watch from Radziwill, she created an original painting depicting Radziwill and Chuck Spalding on the hike. It’s captioned, “February 23, 1963 2:05 am to 9:35 pm Jackie to Stas with love and admiration”. The painting accompanied the sale of the watch.

The Snazziest Pads That Were Snatched Up Last Week

Thanks to our friends over at StreetEasy, we’re rather on top of this city’s real estate comings and goings — emphasis on goings.

This past week, a handful of highly priced pads left the market for an assortment of reasons, but these are the most expensive residences that have found loving new owners.

212 Fifth Avenue #19AB | In Contract

Two-hundred twelve Fifth Avenue — the ultimate New York City status building — is one of our favorite developments right now, so we’re not surprised that a unit at the Flatiron building is top of our list this week. The 4,089-square-foot spread was last asking $28.2 million, and for their money its new owners are getting soaring ceilings, tons of charm and views galore.

212 West 18th Street 14A (credit: Douglas Elliman)

212 West 18th Street #14A | In Contract

Chelsea’s Walker Tower is just one of Ralph Walker’s pre-war deco towers in the city to find a new calling as a swanky residential building. This two-and-a-half-bedroom unit was most recently asking $15.2 million. Amenities at the building include a concierge, a children’s playroom, a gym, a sauna and roof deck.

319 East 51st Street (credit: Douglas Elliman)

319 East 51st Street | In Contract

Since 2011, this townhouse has been home to interior decorator Deborah Greatorex and her hedge-fund husband, which explains why the home is so gosh darn pretty. They bought the place in 2011 for $4.6 million, city records show, and gut renovated the place. It was most recently asking $12.9 million.

45 Park Place 38 (credit: Stribling)

45 Park Place #38 | In Contract

Forty-five Park Place, an under construction glass tower at the juncture of Tribeca and the Financial District, launched their sales earlier this month, according to Curbed. And already they’re being snapped up. Last asking $12.35 million, this unit comes with three bedrooms, a great room with three exposures, and floor-to-ceiling windows.

45 Park Place 24 (credit: Stribling)

45 Park Place #24 | In Contract

Waiting on construction to finish at 45 Park Place obviously isn’t a problem for this buyer either. This four-bedroom spread was last asking $10.5 million, and comes with all of the amenities its neighbor above does, along with a private key locked elevator.

160 9th Avenue, Unit 4R

160 9th Avenue, Unit 4R

CHELSEA, MANHATTAN

Offered At $550,000

Maintenance: $760/mo. 

1 Bed  |  1  Bath  |  Co-op

Full Listing
 

Enjoy pin-drop quiet and ample sunshine in this lovely one-bedroom, one-bathroom home in the perfect Chelsea location.

Three oversized, east-facing windows wrap every room of this well-planned 550-square-foot home in golden sunlight and delightful city and garden views. The open-plan layout maximizes space and light while historic touches like exposed brick and a decorative fireplace add warmth and charm. The spacious main living space provides plenty of room for living and dining served by the nearby open kitchen. The windowed bedroom features a large closet, and there's another in the entry.

An Italianate building constructed in 1860, 160 9th Avenue is a boutique co-op offering relaxed rules and very low maintenance. Pets, in-unit washer-dryers and subletting allowed. Set within the Chelsea Historic District, fine examples of New York's early architecture surround the home along with tree-lined streets, eclectic restaurants and lively nightlife. The High Line is just a block away, with Chelsea Piers and the exciting Pier 57 "megapier" project just beyond. Nearby Chelsea Market and Whole Foods provide spectacular access to gourmet delights, while the Whitney and Rubin museums, plus the neighborhood's revered art galleries, provide a feast for the eyes. Transportation is effortless thanks to A/C/E, 1/2 and PATH trains, plus multiple CitiBike stations, within blocks.

More About The Neighborhood

The Hoffman Team is #8 in Manhattan!

Full Artical Here

It’s been about a decade since The Real Deal began ranking Manhattan’s top residential agents. But this year, the ranking looks a little different.

That’s because rather than evaluating agents based on the dollar volume of their listings, this year our beefed-up research team created a methodology to evaluate brokers based on what they actually sold. And in a market where inventory is up and buyers are swimming in choices, particularly on the high end, closing deals is no small feat.

While TRD’s methodology has changed, one key thing that hasn’t is that the brokers who worked on new development projects trounced their resale counterparts. But to get a clear sense of which agents dominated in both areas, we compiled two separate rankings. The undertaking was not easy. We sifted through thousands of condo, co-op and townhouse listings and cross-referenced them with sales that hit public records last year.

The final rankings — which include only sell-side transactions — are based on deals that closed between January 1 and December 31, 2016, and that the agent had as a listing. Oh, and agents had to have at least $50 million in deal volume to make the cut.

NYC Pride March 2017: Route & Street Closures

NYC Pride is officially underway, and while there are a bevy of events happening to commemorate the 48th anniversary of the Stonewall Riots (and plenty of historic sites to visit if you’re in town for Pride), the big shebang—the Pride March—happens on Sunday.

This year, the theme is “We Are Proud,” which the organizers say reflects the LGBTQ community’s “unwavering ability to rise and be proud, even while under attack by a hostile political environment.” The Grand Marshals this year are trans advocate and NYC firefighter Brooke Guinan; Gay Men’s Health Crisis activist Krishna Stone; the American Civil Liberties Union; and Chinese LGBT activist Geng Le.

And given the fact that last year’s march saw the largest crowds in the event’s history—with 32,000 marchers and more than 2 million spectators—it’s all but guaranteed that this year’s will also be a blowout.

So what do you need to know if you want to attend? The march, which begins at noon, will follow the same route as in years past. Crowds will form in Midtown around Fifth Avenue and 37th Street, and follow Fifth Avenue down to 8th Street, before turning west, following Christopher Street, and ending at Greenwich Street (where a huge street fair/celebration, Pridefest, will be happening).

Street closures have yet to be announced, but it’s safe to assume that driving—or taking the bus—in Midtown or the West Village will be a bad idea on Sunday.

If you still want to watch without being amid the crowds, the march will be broadcast live, from noon to 3 p.m., on ABC for the first time in the event’s history.

Sunday’s march will be preceded by the Dyke March on Saturday, which will begin at 5 p.m. on the north side of Bryant Park at 42nd Street and Sixth Avenue. The march then continues down Fifth Avenue until arriving at Washington Square Park.

Luxury Listings: The biggest Price Chops Last Week

Pop art? More like chop art.

This week, one of the biggest price chops was on a townhouse owned by the son of pop art icon Roy Lichtenstein. The home, which was first listed for $25 million in April, has now been reduced by $3 million.

In total, six homes in the over-$10 million market were reduced by more than 5 percent last week, according to data from StreetEasy.

Here’s a look at the biggest price reductions:

7 West 16th Street

7 West 16th Street
Previous Price: $24 million ($1,956 per square foot)
Current Price: $18 million
Percentage Drop: 25 percent

This 33-foot-wide townhouse hit the market in January, asking just under $24 million. Six month later, it’s been cut back by 25 percent to $18 million.

The entire home spans 9,200 square feet, and includes additional air rights that are expandable up to 18,475 square feet with the Landmarks Preservation Commission approval. Though it’s currently a multifamily property with eight separate units, it’s being marketed with the potential to be converted into a single-family home. It has 11 bedrooms and seven bathrooms, and features a double-height entry gallery, ornate mantles and plaster work.

The Corcoran Group’s  Laurie Lewis and Peter Comitini have the listing.

“The property was initially priced on its unusual quality. We understood that it was extremely ambitious at $24 million,” said Lewis. “We do want to sell the property and we thought $18 million is a price that was viable. We encouraged it and that’s where we’re at. … It’s a much more palatable price.”

118 West 12th Street

118 West 12th Street
Previous Price: $25 million
Current Price: $22 million
Percentage Drop: 12 percent

This home, which belongs to the son of artist Roy Lichtenstein, was first listed for sale back in April for $25 million. But filmmaker Mitchell Lichtenstein and his husband Vincent Sanchez have now reduced the home by 12 percent down to $22 million. It’s the first time the Greek Revival townhouse has been publicly sold in 170 years, according to the listing. Built in 1847, the house features four bedrooms and three-and-a-half bathrooms across four stories. There’s also a south-facing garden with a set-back terrace above. Lichtenstein paid $2.5 million for the home in 1997, according to records.

Stribling’s Vals Osborne, Lee Ann Jaffee and Steven Sumser have the listing.

“The townhouse market has definitely slowed over the past year. So the slowing down requires a pricing adjustment,” said Sumser.

432 Park Avenue, #65B

432 Park Avenue, 65B
Previous Price: $32.5 million
Current Price: $29.5 million ($7,340 per square foot)
Percentage Drop: 9 percent

Once asking $32.5 million, this 4,000-square-foot apartment has just had 9 percent shaved off the ask. The apartment at the Macklowe Properties and CIM Group-developed ultra-luxury building has heated floors, a steam shower and views of the Empire State Building and the Chrysler Building from all south-facing bedrooms. There are three bedrooms and four-and-a-half bathrooms, as well as a chef’s kitchen and a library.

The apartment — which is being offered for sale with an accompanying service and a private wine cellar — last sold in March 2016 for $25.6 million. Why The Face LLC was the buyer, records show.

Kyle Blackmon of Compass has the listing. He couldn’t be immediately reached for comment.

85 Grand, #2

85 Grand Street,2
Previous Price: $11 million
Current Price: $10 million
Percentage Drop: 9 percent

General Motors president Dan Ammann, who bought this apartment for $5 million with his wife Pernilla in 2008, has just cut the home’s asking price by $1 million. First listed back in May, it’s now on the market for just under $10 million.

The apartment has four bedrooms, three bathrooms, 15 windows in the main room, 14-foot ceilings, a sauna and exposed brick. There’s also an open kitchen with a 7-foot marble island and a 6-foot pantry.

Julia Hoagland of Compass has the listing. She wasn’t immediately available for comment.

242 East 58th Street

242 East 58th Street
Previous Price: $20 million
Current Price: $18.5 million
Percentage Drop: 8 percent

Listed for $20 million in January, this 12,280 square-foot property is now on the market for $18.5 million. Built in 2009, it spans seven stories and includes “numerous” bedrooms and bathrooms. The property can be used for both residential and retail. It features a chef’s kitchen, and can also be converted into three separate homes, according to the listing.

Outdoor furniture company Oasiq has its showroom at the Lanson Properties-owned building, but announced it is moving to Soho because of the sale, the Commercial Observer reported.

Douglas Elliman’s Raymond Dillulio, Lisa Interdonato, Fredrik Eklund and John Gomes have the listing. Dillulio declined to comment on behalf of the team.

Please Join Us In Welcoming Andrew Klima To The Team!

About Andrew

An entrepreneur at heart, Andrew has always been an independent businessman and felt a true connection to the real estate industry at a young age. Having lived in a variety of neighborhoods throughout Manhattan, Andrew is well positioned to educate and advise his clients on a wide array of areas and property types. He finds fulfillment by connecting to each client on a personal level to best aid in selling or finding their home. 

Throughout his professional career, Andrew's repeat clients have remained unwavering due to his his tireless work ethic, fun spirit, creativity, and efficiency. In the sometimes hectic NYC real estate market, Andrew aims to be a reliable source and shepherd for his customers, making sure they receive the best service available. 

Andrew has lived on the Upper West Side, Upper East Side, and is now a resident of Battery Park City with his wife, Molly and their Chocolate Lab, Elly. Andrew has regularly set new price records in the area, and has his finger on the pulse of this specific market and its ever-growing values. His expertise and familiarity with the local community helps to position his buyers and sellers with a competitive edge. Coupled with strategically developed marketing plans, Andrew consistently gets over ask offers for the properties he represents. 


A recent graduate of the Manhattan School of Music, Andrew is a professional Operatic tenor and has sung internationally. He has also taught chorus at a public middle school to 435 singers and currently maintains a private studio. All of Andrew's experiences have helped him learn that whether on the streets of New York with customers, on the Operatic stage with audience members, or in a classroom with students, his clients must be at the center of focus.

Andrew's Listing Page

Specialties

Battery Park City, Downtown Manhattan and Long Island City.

Education

Bachelor of Vocal Performance and Bachelor of Music Education from Ithaca college; Masters in Opera Performance from the Manhattan School of Music.

Charity

Andrew is on the Board of his Condo; on the Ithaca College Alumni Board, the Director of Engagement for Ithaca College Alumni in NYC and mentors through Big Brothers and Big Sisters. Andrew provides music for St. Peter's Church, the oldest Catholic Church in Lower Manhattan and brings music to seniors at a facility in Riverdale.

Its All About The Price....

The Jane Street Effect

FAILED TO SELL — the words every owner dreads and hates to hear. Yet, in today’s price-sensitive market, these words are uttered over and over again.

A little over a month ago, we took over a Jane Street condo in the West Village from the largest brokerage house in the city who failed to sell. It had languished on the market for almost six months, so giving the property a complete rebranding and facelift was our first priority. The owner agreed to pay us to completely restage the property and to give it a deep cleaning. We brought in our best photographer, floor plan renderer and copywriter, and we made the property a “new listing” with over 100 days “on market” according to StreetEasy, NYC’s No. 1 public real estate website.  We got Compass’ public relations team to get a some press on the unit, and we went ahead with the relaunch. But, there was the issue of price. The property had been listed for $3.395 million. Clearly, we had to bring it to market with an improved price, so we all agreed that  $3.25 million  was a fair market value with a little room for negotiation. Just a bit lower than our predecessor’s asking price, but low enough to spark renewed interest — and that it did.

Over the next three weeks, we brought in over 50 buyers to the property, but alas no offers. It would seem the market had rejected the new asking price, again! But this time, the owner’s agents took action. Instead of letting the property sit there, the market forced us to adjust. The owner was convinced just a small adjustment would do for now, and if that didn’t work we’d move the price again in three more weeks. There was just no way that was healthy for the life of the listing if we wanted to sell it for top-of-the-market value. With much debate we adjusted the price down to $2.995 million and immediately got three offers: one below the asking and two just above.

We commenced with a best and final and signed a contract a week later for $3.15 million all cash. Why didn’t one of the original 50 interested buyers offer $2.95 million when we were at $3.25 million? We could have easily settled on a price of roughly $3.15 million then. This is today’s market — ultra price-sensitive — and this is what is leading to massive days on market for some listings or the dreaded failed to sell label for others.


Find your property’s sweet spot, and the market will respond genuinely. It doesn’t care how long you’ve been on the market or for what price. Once you find the right number, your property will  have the Jane Street Effect!

1641 Third Avenue, Unit 16G

1641 Third Avenue, Unit 16G

UPPER EAST SIDE, MANHATTAN

Offered At $850,000

Common Charges: $721/mo.  |  Real Estate Taxes: $756/mo.

1 Bed  |  1  Bath  |  Condo  |  Doorman

Learn More
 

Enjoy high-floor views and innumerable building amenities in this spacious one-bedroom condominium home in a full-service Yorkville high-rise. 

The G-line is one of the most coveted one-bedroom layouts at the Ruppert Yorkville Towers complex thanks to its open plan great room and kitchen allowing total flexibility for living, dining, even home office spaces. Extra-wide north-facing windows capture high floor views in the living area while the kitchen offers great cooking space and ample cabinetry. Two-extra-large closets line the spacious bedroom, additional hall closets ensure storage will never be a concern in this fantastic 835-square-foot Upper East Side abode.

Yorkville Tower 2, part of the sprawling Ruppert Yorkville Towers complex, is 34-story tower offering 24-hour doorman, concierge, housekeeping, dry cleaning and valet services; two private playgrounds and an outdoor terrace with barbecues; bike room; central laundry and on-site parking with Zipcars. Discounted access to the New York Sports Club and swimming pool on the property is also available. This home offers incredibly low common charges that include heat/AC, electricity, gas and water. Spectrum Cable or FiOS offered at a reduced rate. Condo policies are flexible in this well-managed building; unlimited subletting for leases of at least one year, pied-à-terres and 90 percent financing are permitted. Sorry, no new dogs. This section of Yorkville has seen an amazing resurgence in the last few years, welcoming an array of great new restaurants, a new Whole Foods location, and the long awaited opening of the 2nd Avenue subway. Central Park is just four blocks away, and transportation options are abundant; the 2nd Avenue (Q) and Lexington Avenue (4, 5, and 6) subway lines are steps away and many nearby bus lines including the M86 and M96 Crosstowns, and the M1, M2, M3, and M4 Madison Avenue lines on 91st Street

About the UES

Billionaires Are Gobbling Up Basquiats Like There Is No Tomorrow!

The global art market has more than tripled in value since 2003, pushing auction sale prices sky high. And right now, no artist is hotter than Jean-Michel Basquiat.

In May, “Untitled” by Basquiat sold for $57.3 million, setting a short-lived record for the artist’s work. But soon after, the same Japanese collector dropped another $110.5 million on a different Basquiat.

And so naturally, at this year’s Art Basel, Basquiat was the name of the game. Some 90 private jets landed in the small Swiss town carrying billionaires like Steve Cohen, Leon Black, Eli Broad and Dmitry Rybolovlev. There’s no word on whether Ian Schrager, who once gave away a Basquiat, was among them.

For their collecting pleasure, some nine works by Basquiat were brought to the fair by galleries, according to Bloomberg.

“People realize this is a moment to cash in on Basquiat,” Phyllis Hattis, a New York private dealer told Bloomberg.

Basquiat’s “Three Delegates” sold in the first hour on Tuesday at Acquavella Galleries, Bloomberg reports. The piece was asking $18 million. And his 1982 piece “Baby Boom” from 1982 may have also found a buyer. Levy Gorvy gallery was asking $32 million for the work owned by newsprint magnate Peter Brant.

“The market feels stronger,” Russian collector Maria Baibakova said. “Many things I wanted to buy were already sold.”

10 Small Towns Near NYC To Visit This Summer

Plan a day (or weekend) trip to one of these charming destinations, all of which are just a stone's throw from New York City

BY LILIT MARCUS, JESSICA WAKEMAN, AND AMY PLITT  MAY 22, 2017, 10:00AM EDT

It is a truth universally acknowledged (by New Yorkers, anyway) that summer in the city can be something of a beast, what with the ridiculous heat in subway stations, and that smell (you know what we're talking about) that permeates city streets until October. But instead of stewing in the heat, why not get out of town for a day or two? Thanks to our fair city's location—close to New England, the Jersey Shore, Long Island's beaches, and the Hudson River—there's a bevy of charming towns you can visit the next time you need a break from NYC.

These towns in New York, Connecticut, and New Jersey offer a little something for everyone. But the best part is that they're all just a few hours from NYC, so it won't be hard to drop everything, pack a bag, and get outta town.

#1 Phoenicia, NY

It's only a matter of time before Phoenicia becomes as popular among NYC expats as towns like Beacon or Hudson—and if you ask some people, it's already there. (How many Phoenicia Diner t-shirts have you seen in Brooklyn lately?) But the town's location deep within the Catskill Mountains has helped it retain a laid-back feel, and there's a lot to do there: Main Street is full of charming and quirky shops (including the Mystery Spot, a vintage lover's haven), there are outdoor activities aplenty, and lodging options range from hip hotels (The Graham & Co.) to quaint B&Bs (The Phoenicia Belle). Oh, and the Phoenicia Diner is actually well worth a visit.

#2 Lambertville, NJ

The so-called “antiques capital of New Jersey” is worth a visit if you’re in the market for vintage treasures: It’s home to the People’s Store, a well-known antiques market located in a 19th-century building in the center of town. (And that’s just the best-known spot—the town is brimming with smaller stores and dealers selling vintage wares.) Lambertville is also close to New Hope, Pennsylvania, which Curbed Philly calls "a hot spot for artists and creatives"—so it's worth hitting both towns in one trip.

#3 Mystic, CT

New England maritime history is center stage in Mystic, where the Charles W. Morgan, the country's oldest surviving whaleship, is docked at the Mystic Seaport. The site of a recreated 19th-century seafaring village, the seaport shows off big ships and offers exhibitions on lighthouses, figureheads, and other maritime objects. But if you know the town, it may be for Mystic Pizza, the pizzeria made famous by the 1988 Julia Roberts flick. And no visit to the town is complete without enjoying scoops from Mystic Drawbridge Ice Cream while watching boats pass under the drawbridge.

#4 Kingston, NY

Thanks to its location on the banks of the Hudson River, there's a lot of nautical history in Kingston. It's home to both the Hudson River Maritime Museum, which hosts exhibits and leads tours about the area, as well as the quaint and Instagrammable Rondout Lighthouse. But Kingston also has the sort of hip shops and restaurants that wouldn't feel out of place in, say, Brooklyn—spots like Clove & Creek, with its selection of home goods and accessories, or Brunette, a wine bar opened in 2015 by two Queens residents who fell in love with the town.

#5 Cape May, NJ

Cape May prides itself as a quaint Victorian village nestled in the southern tip of New Jersey. It also happens to also be a prime beach location with miles of beaches directly on the Atlantic Ocean (however, access is not free — guests must pay a fee at beach entrances). There's a vibrant, family-friendly downtown featuring shopping, mini-golf, an arcade, frozen custard, and a couple of fudge shops. When the sunburn starts to set in, visit the picturesque Cape May Lighthouse, the World War II Lookout Tower, or the Emlen Physick Estate, a 19th-century Victorian home complete with gardens and a tearoom. If adventure is more your speed, check out Cape May Parasailing, the Cape May Whale Watcher cruise, or even surfing lessons.

#6 Greenport, NY

If you want to check out Long Island's North Fork, Greenport is an excellent home base—and has plenty of charms of its own. The town is known for having some of the North Fork's best restaurants, including American Beech, a new American spot that does double-duty as a small, but lovely, hotel. Brix & Rye and Greenport Harbor are two excellent options for those seeking quality cocktails or craft beers, respectively. And, of course, there are beaches where you can kick back and relax. There's also a ferry that takes folks to Shelter Island, should you want to check that out on your trip.

#7 Kent, CT

Visiting the tiny town of Kent (it has fewer than 3,000 residents) is an excellent excuse to book a night or two in one of Litchfield County's many B&Bs. Visitors typically flock to Kent Falls, the scenic 250-ft waterfall found in the state park in Kent. For history lovers, the Seven Hearths Museum is a pre-Revolutionary War home that gives guests a peek into life during the colonial era and the Connecticut Antique Machinery Association is a museum dedicated to old-timey agricultural equipment. If you do visit Kent Falls, check out the nearby Kent Falls Brewing Company, located on the site of a former dairy farm.

#8 Hudson, NY

Hudson is best loved for its farm-to-table food scene and its antiques, which have interior designers from the city scrambling up the Amtrak for great deals. But don't ignore the culture scene: bar-slash-bookstore Spotty Dogmerges two of the world’s most perfect things, and Hole bassist Melissa auf der Maur has converted a former cathedral, Basilica Hudson, into a concert venue and event space.

#9 Maplewood, NJ

A visit to the suburb of Maplewood is all about hiking the South Mountain Reservation to see the Hemlock Falls waterfall, a rocky trail that may be tough for novice hikers. Consider a planned hike through the South Mountain Conservancy. Along the way you might catch a glimpse of some "fairy houses" made of natural materials and built into the landscape by a local woman. Finish the day with a tour of Melovino Meadery in the neighboring village of Vauxhall to learn how mead is made—and of course, enjoy a tasting.

#10 Ridgefield, CT

Ridgefield is a thriving artistic community with institutions like The Aldrich Contemporary Art Museum, started from late fashion designer Larry Aldrich’s private collection. The Ridgefield Playhouse is a movie theater/performing arts center featuring acts like comedian Marc Maron and musician Loretta Lynn, while the Ridgefield Theater Barn is a playhouse located in—you guessed it—a big, red converted dairy barn. For those who aren't artistically inclined, the Keeler Tavern Museum is dedicated to the area’s Revolutionary War history. Guests can even see a cannonball fired by the British still embedded in the tavern’s wall.

Construction To Begin On The NEW Penn Station

Just a day after Penn Station‘s long-awaited West End Concourse revealed itself to the public, for the first time allowing Amtrak, Long Island Rail Road, and NJ Transit passengers to enter and board trains through the historic James A. Farley Post Office across 8th Avenue, Governor Cuomo has announced that Empire State Development signed the final financial agreement with Related Companies, Vornado Realty LP, and Skanska AB for the $1.6 billion Penn-Farley Complex. After decades of delays, construction will now begin to transform the historic post office into the Moynihan Train Hall, a new 255,000-square-foot train hall housing both Amtrak and LIRR ticketing and waiting areas, as well as 70,000 square feet of new commercial, retail, and dining space. But a development announcement from the Governor is never complete without a fresh set of renderings, and Cuomo did not disappoint this time.

The 1913 Moynihan Train Hall–designed in the Beaux-Arts style by McKim, Mead and White, the architects of the original Penn Station– will increase Penn Station’s total concourse floor space by more than 50 percent, creating “an iconic civic space for Manhattan’s West Side.” Cuomo said in press release, “Fifty years after the loss of the original Penn Station structure, passengers will once again experience a world-class rail hub worthy of New York. “The Farley Building’s Moynihan Train Hall is two decades in the making, and we are proud that this project is finally a reality. With better access to trains and subways and state-of-the-art infrastructure, the Moynihan Train Hall seamlessly joins history, architectural design and function, bringing the nation’s busiest rail station into the 21st century.”

The main feature of the new train hall is a 92-foot-high skylight “to be built above the building’s historic and architecturally dramatic steel trusses” and reference the original Penn Station design. From here, passengers will have access to nine platforms and 17 tracks, as well as direct access to the Eighth Avenue subway and the existing Penn Station across the street. To that end, Cuomo’s overall $3 billion Penn Station overhaul also includes a redesign of the existing LIRR concourse at 33rd Street and the Station’s subway stations, the A-C-E at Eighth Avenue and the 1-2-3 at Seventh Avenue. Lighting will be upgraded, and digital screens will make for easier navigation.

If yesterday’s unveiling of the West End Concourse is any indication as to how the completed Penn-Farley complex will look, New Yorkers can expect big, bright spaces with high-tech features like LED screens and charging stations. (Take a tour of that new space HERE).

The $1.6 billion project is being funded with $550 million from the state, $420 million from Amtrak, the MTA, the Port Authority and federal grants, and $630 million from the joint venture developers. It’s expected to be complete by the end of 2020.

New Study Says Mexico City Is Less Affordable For Renters Than Manhattan...

Out of all of the world’s cities, New York City surprisingly does not have the most unaffordable rental market. In a report released by RENTCafe, Mexico City beats Manhattan as the worst urban area for renters, with 60 percent of their income being spent on housing. However, Manhattan continues to be extremely unaffordable, with residents putting 59 percent of their income toward rent. Affordability levels are not much better in the three other U.S. cities that made the list; Chicago, San Francisco and L.A. have rent-to-income ratios of 38, 41, and 47 percent respectively.

Cities of Opportunity, via PwC and RENTCafe

RENTCafe used a report by the global professional services firm PwC that ranked the world’s best cities to work and live. The report, called Cities of Opportunities, ranked the 30 best by analyzing at indicators like infrastructure, intellectual capital, sustainability and ease of doing business. Then RENTCafe took this information and found out the amount of money people earn in these cities and whether their salaries were enough for them to afford rental apartments. They examined the average rent of each market and median incomes to calculate the rent-to-income ratio for every city of opportunity.

If housing costs exceed 30 percent of a household income, they considered this rent-burdened. If cities boast an average rent of 30 percent or less of the median than the report says the household income is burden-free. The group then divided the remainder into moderately burdened at 31 to 50 percent rent to income and severely rent burdened at over 51 percent of a household’s income.

According to the data, Kuala Lumpur, Moscow and Johannesburg are the three most affordable cities of opportunity. In the original ranking, these cities sat at 20th, 22nd and 24th place respectively. Overall, the data shows that renting an apartment in more than half of the world’s greatest cities of opportunity won’t cost you more than 30 percent of your income. And while affordability is obviously a draw for many, unfortunately, the economic opportunity may be greater in cities with higher rents, like New York, London, and Singapore.

Discover more about the most affordable cities of opportunity here.

133 Years Ago, America’s First Roller Coaster Opened At Coney Island

On this day in 1884, the country’s first roller coaster opened at Coney Island, sparking Americans’ obsession with amusement rides. Invented by LaMarcus Thompson, the ride, called the Switchback Railway, spanned 600 feet and traveled just six miles per hour. Unlike today’s coasters, the Switchback did not make a round trip loop, and passengers exited at the end of the track. The one-minute long ride cost only five cents.

Photo courtesy of Entertainment Designer

Thompson was inspired by the Mauch Chunk Gravity Railway, a nine-mile downhill railway in Pennsylvania that was designed to carry coal out of the mountains. Later, amused onlookers took it for a spin, making it the first roller coaster-type ride. After riding the Mauch Chunk, Thompson was determined to build an actual roller coaster and found a design by inventor Richard Knudsen called the “Inclined Plane Railway.” The Switchback Railway consisted of two parallel wooden tracks that descended in opposite directions. The ride became so popular it brought in an average of $600 per day, paying for itself within three weeks.

Interestingly, the first design of the cars had the seats facing backward, instead of forward. Changes were later made for more practical, forward-facing cars that could fit more passengers. Plus, the track design was later replaced with an oval complete-circuit to make rides more efficient. Thompson went on to design more roller coasters across the country that included dark tunnels and painted scenery.

Following the Great Depression and World War II, the popularity of roller coasters and amusement parks dropped as Americans had less money to spend for entertainment. But after Disneyland in California opened in 1955, roller coasters and their theme parks began to modernize. While a lot of major amusement parks shut down in Coney Island by the mid-1960s, it continues to be a popular tourist attraction. The boardwalk’s Cyclone roller coaster, which made its debut in 1927, is one of the country’s oldest coaster still in operation.

As 6sqft reported a few months back, Coney Island may add 150,000 square feet of amusement rides, games and other attractions expected to be up and running by the summer of 2018. Plus, a brand new food and drink space opened last month that will hold five different beach-friendly restaurants. The rehabilitation of the space is part of the city’s plan to revitalize and expand Coney Island’s amusement area to support new businesses, employment, and affordable housing.

221 East 50th Street, Unit 6D/7D

221 East 50th Street, Unit 6D/7D

MIDTOWN EAST, MANHATTAN

Offered At $1,750,000

Monthly Maintenance: $3,205/mo.

3 Bed  |  3  Bath  |  Co-op

 

Welcome to a meticulously executed, sun-filled duplex in the heart of Midtown East/Turtle Bay. 

This stunning combination of two units has created an airy three-bedroom, three-bathroom residence that maximizes the units' space. Whitewash oak flooring invites you inside to take in a full-width southern exposure and views that skim over the rooftops of the adjacent buildings. Custom lighting enhance the open plan great room's sense of space and light, while the nearby windowed kitchen offers state-of-the-art appliances by Bosch, Bertazzoni and Fisher & Paykel. At the rear of this level, a large bedroom with an impressive walk-in closet stands next to a gleaming full bathroom. 

Acting as both focal point and conveyance, the custom staircase unifies the two levels with blackened steel supports, white oak tread boards and chic vertical slats. Upstairs, the luxe master suite includes another walk-in closet, a spacious windowed master bathroom, and innovative full-height electrolytic glass panels that draw natural light into the hallway or provide complete privacy at the flip of a switch. The third bedroom is situated at the rear of the floor, and the home's third full bathroom includes an in-unit washer-dryer. Custom closets, recessed lighting, HVAC units enclosed in custom cabinetry, under cabinet lighting, high-end hardware and custom millwork illustrate the care and attention that's gone into this designer home's thoughtful reimagining.

221 East 50th Street is a well-maintained postwar co-op building offering a live-in superintendent, central laundry, bike storage and private garden. Set on beautiful, tree-lined 50th Street near Third Avenue, this delightful home is in the heart of one of Manhattan's most convenient and enjoyable neighborhoods offering residential ambiance combined with incredible accessibility. Fantastic restaurants, including Dos Caminos, Smith & Wollensky, Sofia Wine Bar and The Smith are just steps away, and transportation options are abundant with 6, E and M trains within three blocks and 4/5, S and 7 trains at Grand Central Terminal.

East Village Gas Explosion Sites Sell For $9.15M

More than two years after a gas explosion leveled several buildings on the corner of Second Avenue and Sixth Street in the East Village, two of the sites that fell as a result of the blast have sold.

The New York Post reports that the empty lots that were once home to buildings at 119 and 121 Second Avenue sold to Nexus Building Development Group (which has properties in the Lower East Side and East Village), with city records showing that the two properties went for a combined $9.15 million. It was speculated that they could nab as much as $12 million earlier this year. An adjacent site not owned by the Hyrenkos at 123 Second Avenue (once home to East Village late-night institution Pommes Frites) sold for $9.7 million last year.

According to the Post, the two sites were, before the sale, still owned by Maria Hrynenko, who is currently awaiting trial on manslaughter charges related to the 2015 explosion. As we previously reported, “Manslaughter charges were brought in February [2016] against several parties involved with and privy to the illegal gas line, including against the owners of the building at 121 Second Avenue, Maria Hrynenko and her son Michael Hrynenko.”

But lawyers for the victims of the explosion—there are dozens of lawsuits, including one from actress Drea de Matteo brought against the city, Con Edison, and several other companies—have expressed concernthat a sale could make it harder for their clients to see any financial remuneration from the Hyrenkos. “Let’s say she sells the property and takes the cash and stashes it away in the Canary Islands, there’s no way for us to recoup that,” one lawyer working on a case against the Hyrenkos told the Post.

The National Debt Clock Will Move Back To Bryant Park

While the debt continues to grow, the ticker that estimates the current national figure is temporarily coming down this month. The National Debt Clock at 1133 Sixth Avenue will be moved on June 8 to make way for a new entrance at the Durst Organization’s building just one block away to One Bryant Park (aka the Bank of America Tower), the spot where the original clock first stood, as the Post reported. Real estate developer Seymour Durst first put up the ticker on the corner of Sixth Avenue and 42nd Street in 1989, when the debt was a mere $3 trillion. Today’s debt totals over $19 trillion, with each family’s average share more than $168,000, according to data from the US Treasury.


One Bryant Park, on the right

The original clock was made up of 306 old-fashioned light bulbs and when the debt started falling, the ticker was unplugged and draped with a red, white and blue curtain in 2000. Then as the debt started rising again in 2002, it was reactivated. Durst promised the clock would stay up “as long as the debt or the city lasts…if it bothers people, then it’s working.”

The old-fashioned clock was replaced by a more digital version after the Dursts demolished a low-scale building to make way for One Bryant Park. Douglas Durst, Seymour’s son who took over the company after his father’s death in 1995, had to add another digit to the clock after the debt soared past $10 trillion in 2008. The clock is moving to make way for the building’s tenants, Take-Two Interactive, a software company who created “Grand Theft Auto” and recently signed a 15-year-lease in the building.

53 West 11th Street, Unit 4R/5R

53 West 11th Street, Unit 4R/5R

GREENWICH VILLAGE, MANHATTAN

Offered At $1,795,000

Monthly Maintenance: $2,226/mo.

1 Bed  |  2 Bath  |  Co-op

Full Listing here

Live on the most exclusive stretch of Greenwich Village in this impressive, loft-like convertible two-bedroom duplex situated in a charming and historic brownstone building.

After just three flights up you'll be greeted by bright light and premium finishes in this beautifully designed duplex wrapped in windows facing west, north and east. The expansive 18-foot by 20-foot great room is handsomely appointed with flawless herringbone floors and a wood burning fireplace while soaring ceilings are dotted with recessed lighting. Beautiful views of the townhouse gardens provide a serene backdrop to daily living and lavish entertaining, and the incredibly chic kitchen, equipped with top-of-the-line Wolf and Miele appliances stands ready for whatever culinary demands you may have. A full bathroom and extra closets round out this lovely lower level, while the sculptural cantilevered stair ascends to the flexible top floor. Currently configured as a grand full-floor one-bedroom with gorgeous marble bath and ample custom closets, this level's large layout can easily accommodate the addition of a second bedroom/den plus home office as depicted in the alternate floor plan.

53 West 11th Street is a stately brownstone co-op built in 1891. The well-maintained boutique building welcomes pets, pied-à-terres and guarantors. Monthly maintenance 55 percent tax deductible.

Part of the Greenwich Village Historic District, ideally located in the Gold Coast area, this lovely block has been called "one of the finest streets in The Village" by city historians. From here, the attractions, dining, shopping and entertainment of Greenwich Village, the West Village, Union Square and Chelsea are all within easy reach. Visit the city's best year-round greenmarket at Union Square and head to the new Whitney Museum of Art. Enjoy green space and fresh air on the High Line or along the spectacular Hudson River Greenway. Transportation couldn't be easier with PATH trains and nearly every subway line in the city within easy reach, including A/C/E, B/D/F/M, L, 1/2/3, 4/5/6 and N/Q/R/W trains.

Central Park Lampposts Have ‘Secret Codes’ To Help You Find Your Way

We can think of worse fates than getting lost in Central Park. With its winding pathways, lovely bridges, stunning gardens and a magical lake, it’s the most visited urban park in the United States. But a few of those visitors are bound to take a wrong turn every now and again, and if you find yourself in that predicament, Central Park’s 1,600 lampposts bear a secret code that will help you get your bearings and find your way.

The lights were designed by Beaux-Arts architect Henry Bacon in 1907. Each one has an embossed or painted set of numbers on its base. The first two or three digits tell you the closest cross street. The last number tells you whether you’re on the east or west side. Odd numbers correspond to the west side of Manhattan and even numbers point to the east side. One way to remember the code: Both “east” and “even” start with E.

The city has been making things easier by adding metal plaques that provide the name of the cross streets as well, but the old-fashioned way is definitely more of an adventure.

80 Riverside Blvd. Unit 12A

80 Riverside Blvd. Unit 12A

UPPER WEST SIDE, MANHATTAN

Offered At $1,750,000

CC: $1,003/mo.  |  Real Estate Taxes: $931/mo.

2 Bed  |  2 Bath  |  Condo  |  24/7 Doorman  |  Gym & Pool

Full Listing Here

Greet each day with open-sky views in this immaculate two-bedroom, two-bathroom condominium in an elite, amenity-rich Lincoln Square building.

Situated in the A-line layout, this gorgeous home is highlighted by open eastern views overlooking the adjacent park. Indoors, premier finishes and designer touches make this a luxurious and comfortable escape from the city. Beautiful white oak flooring ushers you into the large great room, offering the perfect spot for entertaining or serene relaxation. The enviable chef's kitchen features sleek lacquer cabinetry, stone countertops and top-notch appliances by Sub-Zero, Viking and Miele.

Bathed in more eastern light, the master suite offers a large closet and plenty of room for a king-size bed and furniture, while the gorgeous stone en suite bathroom features fixtures and fittings by Kohler, Toto and Waterworks. The second bedroom includes a large closet while an in-unit washer dryer, a second well-appointed full bathroom and an extra-wide hall closet round out this perfect floor plan. Unit 12A currently owns two storage units which can be purchased for $25,000 each.

The Rushmore is a modern twin-towered building offering elegant living surrounded by lush parks and waterfront. Residents are spoiled by a long list of resort-like amenities, including a LIVunLtd. Wellness Center with indoor swimming pool, billiards room, screening room, garden lounge and a Kidville gym. The glorious rooftop sundeck faces east and provides a gazebo and patio furniture, perfect for relaxing or entertaining. Complimentary shuttle service to transportation hubs at Columbus Circle and 72nd Street is provided during weekday mornings and evenings. Set in prime Lincoln Square, this home is surrounded by the best of Manhattan dining, shopping and, above all, entertainment. Head to Lincoln Center to take in the city's best performing arts and enjoy world-class restaurants and gourmet shops of the Upper West Side. Sprawling Riverside Park South and miles of riverfront paths provide tremendous outdoor space, and access to transportation is a breeze with 1/2 trains nearby and A/C and B/D lines further on.

Your new home awaits.

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