As the sun went down over Central Park last night, the music was just getting turned up atop 1280 Fifth Avenue, where the Harlem Blues & Jazz Band was playing for guests on the rooftop terrace of One Museum Mile. The event was a kick-off celebration for the fall sales season at the luxury condominium building, which is now 40% sold and in-contract. We’ll have more details on the event and the latest news on the building next week, but for now we wanted to give you a glimpse of this legendary band of musicians, which first formed in 1973. And for those curious about One Museum Mile, there’s an open house this weekend from 12-3pm on Saturday, and 1:30-4:30pm on Sunday.
With all the buzz about CORE’s 93 Worth Street project in TriBeCa, we thought it was the perfect time to provide a closer look at what this historic former garment factory will look like once construction is complete. Designed by ODA, the newly reconfigured luxury condominium building will offer 92 units — studios to four-bedrooms — in one of Manhattan’s most in-demand downtown neighborhoods.
In a nod to the old and the new, 93 Worth Street, which dates back to 1924, will sport a very modern penthouse addition on top. The existing facade below will be cleaned and restored, and new picture windows are being installed. For an update on how the building looks now (and a peek at those new windows), check out the photo CORE CEO Shaun Oster posted on Facebook earlier this month. For more information on the building, keep your eye on 93worth.com.
While everyone loves sprawling, multi-million dollar apartments, sometimes a smaller pad is in order. These three studios offer less space, but no less style, than their more expensive counterparts. Perfect for young professionals or beleaguered commuters looking for a break, these three flats are places to be proud of, without breaking the bank.
With gleaming hardwood, a wall of windows, river views, and a location in one of New York’s most happening neighborhoods, this studio at Williamsburg’s 2 Northside Piers is one of the most desirable small spaces in Brooklyn. The unit itself measures 603 square feet, with a layout that promotes distinct sleeping and living areas. Off the alcove lies a thoroughly up-to-date master bath, flanked by a pair of spacious closets. The kitchen, which opens to the living area with a convenient counter for dining, features top-of-the-line appliances like a Bosch dishwasher and Sub-Zero fridge.
This large apartment in the red-hot Flatiron District has a big, bright and airy feel that is lacking in many pre-war condominium loft buildings, even ones with more famous addresses. (See Adrian Noriega’s listing for all the photos.) The spacious home office is a nice bonus, as are the three full bathrooms, laundry room, direct elevator access and working fireplace. All that said, there’s more to enjoy without leaving the property: The 2,259-square-foot unit sits high on the seventh floor of the Altair 20, a condo that boasts both a gym and a sprawling shared roof deck. Update: This apartment has gone into contract!
A sampling of last week’s press coverage of CORE and CORE properties.
“Slim supply gives condo prices new pop”
Record rents, low interest rates and wealthy buyers looking to invest their fortunes are all helping to pump up the condominium sales market, Crain’s reports. One of the projects benefiting from the lack of new inventory is CORE’s Walker Tower development (above). “Walker Tower is shattering record prices for downtown,” CORE CEO Shaun Osher tells Crain’s. For more on Osher’s take on the current real estate market, read his comments on the new housing shortage.
“Trophies On Display: In Gaga Global New York, the Loudest Listings Bag the Billionaires”
New York Observer
In the Observer’s look at the current culture within Manhattan’s luxury real estate world (”If you’ve got it, flaunt it. That’s the new rule of thumb in luxury real estate, anyway.”), CORE Managing Director Emily Beare commented on the important roles advertising and publicity play in marketing expensive properties.
New York Post
The Post’s big fall real estate preview featured CORE’s upcoming 93 Worth Street project on its cover. The former garment factory in TriBeCa, built in 1924, will launch sales later this fall with prices from $1,250 to $2,000 a square foot. Click here for more on the project.
Following up our status report earlier this week on One Murray Park, we thought we’d share this additional shot of one portion of the rooftop terrace atop Long Island City’s newest luxury condominium building. In the background are the waterfront towers of LIC, as well as the Midtown Manhattan skyline, with the United Nations and the Chrysler Building being the most prominent. Residents will even be able to see the new World Trade Center taking shape — you can spot 1 World Trade Center, what will be the tallest building in the country, in the distance. The Chrysler Building and 1 World Trade Center in the same view? A unique perspective from a unique building. Click here for more on One Murray Park.
Flip open the New York Post today and you’ll see CORE’s upcoming 93 Worth Street project on the cover of the Home section. The TriBeCa luxury condominium building, a conversion of a garment factory and office building built in 1924, was announced last October, and now there are finally specifics to share. Here’s what the Post has to say (you can find the story online here):
Built in 1924, 93 Worth St. began as a garment factory. For the past 50 years, it has served as an office building. And now it has met its destiny — the same destiny as so many buildings in this city — as a luxury condominium. The 13-story TriBeCa building will offer 92 units, studios to four-bedrooms, priced from $1,250 to $2,000 a square foot. Amenities will include a 24-hour doorman, fitness center, playroom, lounge and 3,845-square-foot roof deck. On the ground floor will be 10,000 square feet of commercial space. Sales will start this fall.
The 93 Worth website recently launched with a sign-up form for more information. Head over there and sign up to be among the first to get details of the building’s sales launch.
Closings have just kicked off at One Murray Park, the new 45-unit luxury condominium development in Long Island City along a recently renovated playground and park. The building, one of the few new developments in this rapidly transforming neighborhood, is now 64% in contract, according to CORE’s Doron Zwickel, who is handling sales and marketing for the building. Featuring amenities such as a doorman, fitness center, residents’ library, roof deck and indoor parking, One Murray Park is also entering the homestretch of construction, which makes it the perfect time to check in on the building following our earlier sneak peek inside.
As expected, CORE’s latest Real Time Report (click here to download the PDF), which includes the most current contract data from StreetEasy, showed us that the Manhattan real estate market is strong across the board. Our monthly report found that, compared to last year, overall contract volume rose by over 26%, while inventory has continued to shrink — an overall decrease of 11% since last year. And this week Crain’s reports that this high demand and lack of supply is sending condominium prices soaring, with great success for sellers. In fact, our Walker Tower project is highlighted as one new development that is capitalizing on this “pricing pop.”
So where are we? It’s getting harder to find a good apartment at a reasonable price. (Although doesn’t that always seem to be the case if you’re a buyer?) With inventory levels continuing to shrink, I only see this becoming more difficult, and the housing shortage that I foresaw and predicted three years ago seems to have become a reality.
The effects of this? Higher prices, more bidding wars, less time on the market, and more situations where sellers are remorseful for selling and buyers are regretful over missed opportunities.
Shaun Osher is the founder and CEO of CORE.
A sampling of last week’s press coverage of CORE and CORE properties.
“Argentines Turn Cash Into Condos in Miami”
New York Times
Alexei Barrionuevo’s latest Big Deal column, on South American — and particularly Argentinian — buyers looking to invest their savings in Miami and New York real estate, highlights One Museum Mile (right) as a new luxury development in Manhattan that is getting lots of investor interest.
“CORE to open retail office on UES”
The Real Deal
CORE’s exciting announcement of a new Madison Avenue office is covered by The Real Deal, which writes, “The firm, which was recently ranked by TRD as the city’s top boutique brokerage based on the value of listings, has inked a 10-year lease for a 3,500-square-foot office at 673 Madison Avenue that will open next spring, the spokesperson said. A gut renovation of the place will begin this fall.
“Residential Sales Around the Region”
New York Times
The sale of the Chelsea Skyhouse, a triplex penthouse at 213 West 23rd Street listed by CORE’s Emily Beare and Christian Rogers, is featured. The trophy apartment, with 6,000 square feet of private outdoor space and a 30-foot atrium, sold for $8.2 million.