About two and a half years ago we opened the sales office of 520 West Chelsea when 19th Street looked a lot different than it does today. Frank Gehry’s first New York project for Barry Diller’s headquarters of IAC hadn’t even opened; Jean Nouvel Chelsea had not yet broken ground and Shigeru Ban’s Metal Shutter Houses did not exist. But there was one thing that was the talk of the neighborhood and well on its way to happening, and that was the High Line Park. (more…)
The skies are grey, the real estate market is cloudy, and the unpredictability of both has never been more apparent. The New York Post’s Katherine Dykstra wrote a story today that featured apartments with outdoor space. Will this will clear the air and give us hope for brighter days ahead?
I still contend that THIS IS THE TIME TO BUY! I say this not because I own a brokerage that relies on transactions, but because of the fundamentals underlying the opportunity for buyers and their ability to transact.
Let’s see what happens.
The building located at 345 Grand Street is believed to have been built around 1900. It is a SOHO-Style Cast Iron that somehow was transplanted to Lower East Side. Before the building was converted to a Condominium in 2002, it had a quite an interesting history.
During the 1910’s the second floor was a dance hall. The ticket pictured below was found under the floorboards on the 2nd floor, which has 13′ ceilings and used to have a wide staircase down to the ground floor, also 13′ high. That stair is still there in the space that is for sale or rent as retail or gallery — but it is covered over now by the 2nd floor’s new flooring.
In the early 1900’s it became a distribution outlet for for H W Perlman Pianos. 1950’s it was a warehouse for Sun Ray Yarn. As demonstrated in the photo below, Sun Ray Yarn used to be housed in the building next door to 345 Grand Street. You can see that 347 the original home of Sun Ray Yarn was next door, while H W Perlman Pianos took up most of 345. It was a warehouse and sales showroom, probably not a factory. The lady’s long dress and the lack of wire suggest the date was around 1910, right around the time the “Grand Hall” Ballroom Dance was held.
Allen and Alice Freidman, the owners of the building put the building on the market in 1999. Phillip Frazer and 5 other partners bought it as a Co-op. They kept the commercial spaces downstairs where there was one tenant Grand Sterling Silver, operated by Grand Sterling Co Inc, now on 14th Ave Brooklyn.
AFTER the group brought together bought the building, in 1999, they chose an architect and builder and filed plans for a total rehab — new electrical, plumbing, HVAC, elevator, intercom and alarms. A new roof enabled higher ceilings for the 5th floor and an entirely new apartment to be built on top — this 6th floor penthouse was designed and built by the present owner and seller Phillip Frazer.
For property details, visit: http://www.corenyc.com/en/listings-345-grand-street,18,163788.html
First Open-house 12-3PM, Sunday June 14th.
We have just released the May Core Realtime Report reflecting the numbers for May and here are our findings.
The Manhattan market was one of the last to feel the effects of the global financial crisis, but we can clearly see that we have not been immune. (more…)