News

Kelsey Grammer Lists Condo In New York’s West Chelsea

VarietyJuly 29, 2016

Seller: Kelsey Grammer

 

Location: New York City, NY

 

Price: $9,750,000

 

Size: 3,076 square feet, 3 bedrooms, 3.5 bathrooms

 

Your mama’s notes: A New York City apartment with sweeping views over the Hudson River and owned by Kelsey Grammer has come available, as was first noted by the property gossips at The Wall Street Journal, with an asking price of $9.75 million. Property records show the generously windowed condo was purchased by the Emmy, Golden Globe, and Tony winning actor through a corporate entity in November 2010 for $6.4 million.

 

Online marketing materials for the apartment, on a high floor of a curvaceous and dramatically articulated 23-story architectural tour-de-force designed by Pritzker Prize-winning architect Jean Nouvel at the western edge of the once gritty now decidedly uppity and art gallery lined West Chelsea neighborhood, has three en suite bedrooms and a total of 3.5 bathrooms in 3,0760-square-feet. The roomy corner living room spans nearly 450-square-feet with well-equipped wet bar and head on view of the Empire State Building; the over-sized dining room is plenty large enough to accommodate a grand piano plus a small sitting area in front of a fireplace; and the kitchen features a sizable center island with five-seat snack bar, extra thick slabs of solid surface quartz counter tops on sleek, minimalist hardware-free snow-white cabinetry, and a costly array of name-brand appliances. There are elegantly high 11-foot ceilings, almost white terrazzo floors, and a comprehensive home automation system that controls, among other things, motorized shades that roll down to shield the mostly west-facing aerie from the retina burning scorch of the late afternoon sun.

 

Residents of the building, who shell out knee buckling monthly common charges — for the Grammer condo they ring up to $6,258 per month not counting the $2,659 in monthly real estate taxes according to marketing materials, have access to a myriad of creature comforts like 24/7 doorman and concierge services, on-site parking, private screening room, 70-foot-long indoor/outdoor swimming pool, and a complete fitness center with sauna and steam room. A representative of Mister Grammer told The Wall Street Journal that the 61-year-old stage and screen veteran, best known for his portrayal of persnickety psychiatrist Frasier Crane on the syndicated sitcoms “Cheers” and “Frasier” and currently the star of the Amazon drama “The Last Tycoon,” has decided to dump the apartment because it’s become a bit small for his family that includes half of a dozen children including two young ones with his current and substantially younger fourth wife, former flight attendant Kayte (Walsh) Grammar, to whom he’s been married since early 2011.

 

Mister Grammer, a property gossip column staple if there ever was one, has bought and sold handfuls of multi-million dollar homes all across the United State including but not limited to: a 7,225-square-foot sprawler that backs up to a golf course in a prestigious gated community in Kailua, HI, that was sold in early 2014 for $10.2 million; an approximately 8,500-square-foot rustic-luxe ski chalet in Avon, CO, acquired in May 2002 for $5.35 million sold in September 2013 for $6.6 million; and a spacious Spanish Colonial stunner in the Flats of Beverly Hills that was scooped up in April 2012 for $6.5 and, after it was floated as luxury lease at $30,000 per month, quickly sold in April 2013 for $6.643 million. Currently the veteran star of stage and screen owns a plush, 10,567-square-foot, quasi-English Country mansion in the ritzy Holmby Hills area of Los Angeles that he purchased with his third wife, former “Real Housewives of Beverly Hills” cast member Camille Grammer, in June 2007 for $13.7 million and has had on and off the market multiple times including in 2008 when it popped up for sale at $19.9 million as well as in the spring of 2013 when it was last listed on the open market at $14.995 million. Our research indicates Mister Grammer also maintains a magnificently scenic and somewhat remote country spread of around 200 acres near the tiny and charming town of Margaretville in Upstate New York that includes a couple of houses and several additional outbuildings, swimming pool, tennis court, and a couple of ponds.

$1 Billion Construction Loan For One Wall Street

Crain's New YorkJuly 29, 2016

Harry Macklowe is looking for a $1 billion senior construction loan for his residential conversion of One Wall Street, according to The Real Deal. Two-thirds of the loan will go toward construction costs.

 

The $1.5 billion project will convert the 50-story office tower into about 500 apartments, most of which will be condos and the rest rentals. The developer tapped residential brokerage CORE to market the units starting in 2017. Prices for the apartments have not been set. Whole Foods will lease a portion of the property's retail, taking 44,000 square feet.

Kelsey Grammer’s West Chelsea Apartment Listed

StreeteasyJuly 29, 2016

Although Kelsey Grammer is best known for his starring roles in sitcoms based in Boston and Seattle, the former star of Cheers and Frasier makes his home right here in NYC – specifically in a West Chelsea apartment now listed for $9.75M.

 

Over his long career, Grammer has played many parts, had many wives and children and collected many homes including places in Malibu, Maui, Bachelor Gulch and most recently in New York City. Now, however, Grammer is unloading the three-bedroom condo he bought in 2010 for $6.4M. Six years later, Grammer and his family have decided its time to move on. According to the Wall Street Journal, they “have outgrown” the 3,076-square foot place.

 

The apartment, located on the 19th floor of 100 Eleventh Avenue, is fitting for a star who seems to embrace the limelight and frequently appears in the headlines of celebrity news. Designed by France’s favorite starchitects, Jean Nouvel, 100 Eleventh Avenue is one of West Chelsea’s most iconic and recognizable new buildings. The glassy, blue facade is hard to miss, cutting a sparkling figure easily visible from the West Side Highway and the High Line.

 

Grammar’s apartment boasts 100 feet of linear glass walls offering views of the Hudson and the Empire State Building. The three-bedroom apartment has a huge open floor plan layout, tricked out with all the bells and whistles of your typical luxury apartment. Yep, we’re talking wet bars and wine fridges, European fixtures and finishes. And if Grammer wanted to hobnob with non-celebs, there is a 70-foot swimming pool for building residents.

 

If Grammer gets the full asking price, he’ll command a 52 percent premium over what he paid in 2010 – a nice bump for a guy who played a radio psychiatrist.

Whole Foods Leases 44K SF At Macklowe’s 1 Wall Street

The Real DealJuly 28, 2016

Like Williamsburg, One Wall Street is now officially over. Harry Macklowe landed Whole Foods as a retail tenant at his Financial District condo conversion project. The upscale grocery store chain will occupy 44,000 square feet in the building.

West Village Co-Op Packing Prewar Charm Asks $595,000

CurbedJuly 28, 2016

Welcome back to The Six Digit Club, in which we take a look at a newish-to-market listing priced under $1 million, because nice things sometimes come in small packages. Send nominations to the tipline.

 

Brokerbabble describes this West Village junior one-bedroom as "the perfect jewel box of a home," and actually we think that’s a pretty precise descriptor.

 

This adorable co-op apartment, asking $595,000, is located on the second floor in a 19th-century building and emanates plenty of prewar charm. The focal point of the home is the Italian marble fireplace situated in the center of the living and is accented by features like the neighboring built-in bookcases and double-pane windows.

 

The small bedroom has a wall lined with William Morris-designed floral wallpaper while the renovated kitchen brings a contemporary touch to the home through its modern appliances and smooth wood cabinetry. Other highlights include the nine-foot high ceilings, original wood floors, and access to the "secret" courtyard that is enclosed by four other co-op buildings.

Artist George Condo Once Lived In This West Village Townhouse

Architectural DigestJuly 28, 2016

Once the home of artist George Condo, this five-story townhouse in the heart of New York’s West Village is a convergence of old and new. Constructed in 1842 by noted builder Andrew Lockwood, the Greek Revival–style brick building has a decidedly modern interior by Leroy Street Studio and Christine Markatos Design. Highlights include 13-foot ceilings, wood flooring, and large windows. On the main level, there’s a formal living room with a decorative wood-burning fireplace, a formal dining room with herringbone wood floors and another fireplace, and a large eat-in kitchen with an expansive breakfast bar. The second level consists of the master suite, which has two baths, a large office, and a sitting room. There are three additional bedrooms on the topmost floor, including one that could serve as a family room, and a home gym on the ground floor. A bamboo-fenced landscaped garden out back has cherry trees and ample space for open-air dining.

Six Home Kitchens Where You Can Cook With A View

MetroJuly 27, 2016

One of the advantages of New York City is you never need to cook. Whether your kitchen is too small to prepare a proper meal, the stove is needed for extra storage or you just don’t have the time, NYC is full of great restaurants and round-the-clock takeout options to make the kitchen obsolete.

 

But that doesn’t mean New Yorkers don’t dream of, well, their dream kitchen — complete with stone counters, custom cabinets and top-of-the-line appliances.

 

The kitchen is the heart of the home — and for these six apartments it’s also the place with the best view.

 

100 Eleventh Ave., 8A

$14,500/month

 

The stainless steel kitchen of this Chelsea apartment flows into the open living room, which features floor-to-ceiling windows and views of the Hudson River. Featuring three bedrooms and three-and-a-half-bedrooms that home also has views of the High Line, terrazzo floors and custom designed lighting.

 

11 North Moore St., 6C

$9,495,000

 

This Tribeca, four-bedroom, four-bath loft not only offer 3,000-square-feet of space, but a view of a notable movie spot.

 

“A kitchen is such a personal space and one with a stunning view is priceless. When you have a kitchen that inspires an owner to create, dream and explore boundaries, it is all the more special. 11 North Moore in particular boasts tremendous views of classic Tribeca including the World Trade Center, Hudson River and famous 'Ghostbusters' firehouse,” said Jason Walker, licensed associate estate broker at CORE. The open kitchen also includes top-of-the-line appliances and a generously-sized pantry.

 

388 Bridge St., 35B

$2,280,000

 

Located on a high-floor, the three bedroom, three bath apartment has views of the Verrazano Bridge and Uptown Manhattan. With 1,750 square feet of open floor plan living, this Downtown Brooklyn abode features high-end materials, finishes and top-of-the-line appliances, making it the perfect space for entertaining.

 

101 Warren St., 2840

$9,995,000

 

This high floor, renovated and move-in ready apartment features 3,800 square feet in Tribeca with floor-to-ceiling windows and expansive views. Renovations on the four bedroom, three-and-a-half bath condo include a Bulthaup kitchen, and large media room with kitchenette, There is also an upgraded AV system that controls the apartment’s living environment, including temperature, lights, music and shades.

 

55 Park Ave., 13FLW​

$1,095,000

 

This oversized one bedroom with den and one-and-a-half baths in Murray Hill boasts views of the Empire State Building, Grand Central Terminal and Chrysler Building. A windowed kitchen, specifically offers a view of the Chrysler Building, along with custom cabinetry, marble countertops and updated appliances. Meals can be enjoyed in the dining room, which comfortably seats six.

 

205 East 92nd St., 37E

$14,500/month

 

Located on the Upper East Side, this three-bedroom, two-bathroom apartment features floor-to-ceiling windows with wirelessly controlled shades and western Manhattan skyline views. The kitchen includes Wolf and Sub-Zero stainless steel appliances. There are also oak wood floors throughout, and over-sized living room that allows for a dining area.

Kelsey Grammer Lists Chelsea Condo For $9.75M

6sqftJuly 27, 2016

While in the midst of a very public divorce from third wife Camille in 2010, actor Kelsey Grammer moved from their 15 Central Park West pad to a much more mod condo at Jean Nouvel‘s glassy 100 Eleventh Avenue in west Chelsea. Apparently, says the Observer, he tried to keep the $6.4 million purchase “top-secret” as he was “buying it for himself and his then-mistress Kayte Walsh.” The “Frasier” star eventually married Walsh, and they now have two children together; his publicist confirmed that he’s listed the three-bedroom spread for $9.75 million since they’ve “outgrown” the space.

 

The 3,076-square-foot residence is framed by nearly 100 feet of Hudson River frontage to the west and skyline views to the east. There’s 11-foot ceilings, terrazzo floors, motorized shades, and a Crestron home automation system. The living room is fit for entertaining with a wet bar/wine fridge, mini fridge, and sink surrounded by Caesarstone quartz counters.

 

In the dining room you’ll find a gas-burning fireplace surrounded by a cozy sitting nook, and the kitchen boasts a Wolf double oven and five-seat island.

 

All three of the bedrooms have en-suites, while the master also has a large walk-in closet.

 

Amenities in the starchitect-designed building include 24/7 concierge services, a garden, screening room, 70-foot indoor/outdoor lap pool, sauna and steam rooms, and a fitness center.

Kitchens With A View

MetroJuly 27, 2016

11 North Moore St., 6C

 

This TriBeca four-bedroom, four-bath loft not only offers 3,000-square-feet of space, but a view of a notable movie spot.

 

"A kitchen is such a personal space and one with a stunning view is priceless. Eleven North Moore in particular boasts tremendous views of classic TriBeca including the World Trade Center, Hudson River and famous 'Ghostbusters' firehouse," says Jason Walker, licensed associate real estate broker at CORE. The open kitchen also includes top-of-the-line appliances and a generously sized pantry.

Whole Foods Secures 44K-SF Lease at One Wall Street

Commercial ObserverJuly 27, 2016

Harry Macklowe’s Macklowe Properties may still be converting One Wall Street into a residential building, but the company has secured its first commercial tenant: Whole Foods Market.

 

The grocery chain will occupy 44,000 square feet of the 155,000-square-foot retail space, spanning two floors for shopping and one for backend operations, Commercial Observer can first report.

 

“Whole Foods Market will be a game-changing anchor for One Wall Street and contribute greatly to the retail renaissance taking place in the new Downtown,” Peter Whitenack of RKF said in prepared remarks. “We are now seeing the results of more than a decade of rebuilding, reinvesting and reimagining, and fully expect that Whole Foods Market will attract more, high caliber brands seeking to establish a presence Downtown and the Broadway corridor, in particular.”

 

Whitenack and colleagues Robert K. Futterman, Jaclyn Totolo and Scott Zinovoy are marketing the retail space at One Wall Street.

 

The New York Post reported in January that Whole Foods was mulling space in the Financial District building, which Macklowe bought in 2014 for $585 million from Bank of New York Mellon. The new store is expected to open in late-2018, according to Macklowe Properties.

 

“We’ve long enjoyed serving the downtown community at our Tribeca location, but look forward to expanding our reach and bringing Whole Foods Market closer to home for area residents, workers and visitors,” said Christina Minardi, the regional president for Whole Foods Market’s Northeast region. “Our growth in the area will provide Downtown Manhattan with greater access to the highest quality food, service, community partnership and convenience that the 10 current neighborhoods we serve around New York City have come to enjoy.”

 

A spokeswoman for Macklowe Properties declined to provide leasing details.

 

SCG Retail’s Chase Welles, who is Whole Foods’ broker, declined to comment.

Actor Kelsey Grammer To List Apartment for $9.75 Million

The Wall Street JournalJuly 26, 2016

Actor Kelsey Grammer will list his 3,076-square-foot condo in New York’s Chelsea neighborhood for $9.75 million.

 

Mr. Grammer purchased the property for $6.4 million in 2010 through a limited-liability company, according to public records. A representative for Mr. Grammer confirmed that the actor owns the apartment.

 

The three-bedroom, 3½-bath apartment is located on an upper floor of a glassy 23-story tower designed by Pritzker Prize-winning French architect Jean Nouvel. The unit has 11-foot ceilings and roughly 100 linear feet of glass walls overlooking the Hudson River and Manhattan landmarks such as the Empire State Building.

 

The apartment has an open layout with a combined living, dining and kitchen area, with terrazzo flooring throughout. Completed in 2010, the building is known for its unusual glass facade with more than 1,600 differently shaped window panes.

 

Mr. Grammer’s publicist, Stan Rosenfield, said his client is selling the apartment because he feels that he and his family “have outgrown it.” Mr. Grammer has six children and is married to Kayte Grammer, a former flight attendant.

 

Mr. Grammer, 61, is best known for his roles on the sitcoms “Cheers” and “Frasier.” He now stars in the Amazon drama “The Last Tycoon,” based on the unfinished novel by F. Scott Fitzgerald.

 

Emily Beare and Daniel Amell of CORE have the listing.

Kelsey Grammer Lists Chelsea Apartment For $10M

Luxury Listings NYCJuly 26, 2016

It’s hard to imagine that even the notorious fussbudget Frasier Crane could disapprove of Kelsey Grammer’s West Chelsea condo, which the actor has just listed for $9.75 million.

 

City records show that Grammer, who played the character Frasier Crane on “Cheers” and later “Frasier” from 1982-2004, purchased the apartment at 100 Eleventh Avenue in 2010 under an LLC for $6,400,000 (the Wall Street Journal confirmed that Grammer is indeed the owner). The 3,076-square-foot pad has 100 feet of spectacular views of the Hudson River, three bedrooms (all of which have river views), three and a half bathrooms, 11-foot ceilings and a Crestron home automation system. The building, which was designed by Pritzker-winning architect Jean Nouvel, has a 70-foot indoor-outdoor lap pool, a garden, fitness center and 24/7 concierge service.

 

Grammer is reportedly selling the apartment because he and his family “have outgrown it,” his publicist told the Journal. The actor has been married four times and has six children; he is currently married to Kayte Grammer, a former flight attendant.

 

Emily Beare and Daniel Amell of CORE have the listing.

Fantasy Rental: A Full-Floor SoHo Loft With Historic Details

Brick UndergroundJuly 26, 2016

This rental is out of reach for most of us, but it's fun to fantasize about living in a rambling, prewar SoHo loft whose historic grandeur is infused with New York City edge. The two-bedroom occupies the entire floor of a boutique building, and features exposed brick and a clawfoot tub, along with the modern conveniences of up-to-date appliances and central air. It's listed by CORE for a steep $14,500 per month, but note that the price has already come down a couple times from an initial $17,500—and perhaps will again, with a little negotiating.

 

A private keyed elevator leads you into a living room illuminated by a wall of windows; the space is made striking by exposed brick walls and iron columns. A separate dining area has a similarly industrial-meets-elegant feel, while the open kitchen is updated and contemporary, with gleaming cabinetry and new, high-end appliances.

 

The sprawling master bedroom delivers contrasting textures, with its exposed brick walls and smooth hardwood floors; it's lightened due to multiple exposures, and includes a walk-in closet. The second bedroom sits adjacent and while a bit narrower, also comes with ample closet space.

 

The apartment's interiors are visually stimulating, and the bathrooms are no exception: The first has a slightly noir-ish, Victorian vibe, plus a deep clawfoot tub; the second is considerably lighter and includes a lovely steam shower and tub, as well as a bidet.

 

The unit includes a small laundry room with washer and dryer; pets are permitted, and you can rent the space furnished or unfurnished.

Kelsey Grammer Lists $9.75M Pad In West Chelsea Condo

CurbedJuly 26, 2016

Kelsey Grammer, actor and star of TV sitcoms like ‘Frasier’ and ‘Cheers,’ is looking to part ways with his plush West Chelsea home, reports the Observer.

 

Grammer purchased the 3,076 square foot apartment within Jean Novel’s wind-troubled 100 Eleventh

Avenue tower back in 2010 amidst, let’s just say personal turmoil, that drove him from his 15 Central Park West home. He and new wife Kayte Walsh moved into the home shortly thereafter and seem to have stayed put since but now they claim to have "outgrown" the space and are seeking $9.75 million for the three-bedroom, three-and-a-half bathroom abode.

 

The semi-circular space is highlighted by its amazing 100 feet of Hudson River frontage and offers up 11 foot ceilings, en-suite baths, a living room wet bar, gas-burning fireplace, ample storage space, and its conveniently close proximity to the High Line.

Jude Law Sells Penthouse

ObserverJuly 22, 2016

It appears that in the end, Jude Law’s onetime presence doesn’t have quite the impact on real estate values as some had hoped.

 

The British actor rented out the penthouse at 135 West 4th Street back in 2009, while starring in a production of Hamlet on Broadway.

 

An entity known as FYNT Property LLC put the 3,500-square-foot abode on the market in September, listing the duplex for $12.5 million, having purchased the space for about half that ($6.3 million) in 2010.

 

And now, we can see that James Brophy doled out $10.75 million to take up residence in Law’s former abode—it’s no bargain, but still not quite the haul the sellers were hoping for.

 

The three-bedroom, 2.5-bath penthouse is located in the gorgeous Novare building, which was built in 1860 as a Methodist church before being converted to a condo in 2006—the duplex still retains heavenly aspects such as stained glass windows and beamed ceilings. Aside from being graced by Law’s presence, the unit also features Brazilian walnut floors, a floating chrome staircase, and 20-foot ceilings on the upper level, as well as white Venetian plaster walls and an open Boffi kitchen.

 

The apartment is “a perfect blend of drama, function and elegance,” declares the listing held by CORE broker Jim St. Andre. Perhaps Law felt a bit more an emphasis on the drama aspect of that while playing house in the condo—it is, after all, where the orange-throwing incident occurred.

 

If you’re unfamiliar with the legendary kerfuffle, the gist of it is that Law grew a bit irritated with the excited students, who would yell his name and try to take photos whenever Law stepped out onto the 500-square-foot terrace with his trainer. He responded by throwing oranges at the perpetrators, who hopefully didn’t have any acid-reflux issues. In defense of the students, seeing Law work out on his terrace does seem preferable to putting in the hours at the library. Maybe.

 

For the sake of collegians and citrus fruits, our fingers are crossed that Brophy won’t mind his new home’s proximity to dorms quite as much as Law did—or that the students have calmed down with their cell phone cameras.

3 Deals to See This Weekend

DNA InfoJuly 21, 2016

MANHATTAN — Summer is considered a slow time for the city's real estate market, which means it's a good time to get a deal. Those who list their homes this time of year tend to want to sell quickly, which is why they may offer what these three properties have: incentives, price cuts or prices that aren't outrageous to begin with.

 

11 E. 36th St., Apt. 606, Midtown East


1 bedroom/2 bath


Approximately 1,130 square feet


Condo


$1.395 million

 

Common charges: $1,257 a month


Taxes: $1,144 a month


Open House: Sunday, July 24, noon to 1 p.m.

 

Lowdown: After a recent deal on this pre-war loft fell through, it’s back on the market with an incentive for a speedy sale: The seller will pay a year of the common charges for an offer accepted by Aug. 31.

 

Though legally a one-bedroom, the office is currently set up as a second bedroom. It has no window, but it does have a closet.

 

“The fact you can get a two-bedroom Downtown for under $1.5 million, I think is such a deal,” said Alyssa Soto Brody, CORE.

 

Plus, she added, the space has no load-bearing walls so it's flexible.

 

“You can literally, if you wanted to, open up the entire apartment,” she said, “or if you wanted to create a dining room or third bedroom, you could do that. It allows you to grow into the unit.”

 

This sixth-floor apartment sits in the back of the 66-unit building and has no neighbors on either side, so it’s quiet, Brody said. Though it’s north-facing, the 6-foot-tall windows let in plenty of light.

 

When this office building went condo about a decade ago, renowned interior designer Andres Escobar overhauled the spaces, including the kitchens and baths, which still feel very modern. (Plus there’s central air conditioning and a vented washer-dryer.)

 

“His style is timeless,” said Brody noting that the open kitchen has high-end appliances and Calacatta marble countertops.

 

The doorman building has an “amazing” rooftop with a gym on it, Brody said.

 

Location: The Morgan Lofts, between Madison and Fifth avenues, are a block from the Morgan Library.  The building is an easy to walk to Bryant Park, Midtown and Murray Hill.

 

There are plenty of transit options in the area, like the 6 train at 33rd Street, the hub at Herald Square or Grand Central Terminal.

 

Why put it on your open house calendar? “You are really getting a two-bedroom, two-bath for such an amazing value,” Brody said.

Colorful Midtown Condo Embraces Modern Style

CurbedJuly 20, 2016

Within Midtown West’s luxury condo building, The Dillon, lies a stylishly-designed one-bedroom, one-and-a-half bathroom. The fashionable pad is part of an open floor plan and features an incredibly spacious living room, white oak floors, a sleek kitchen, and floor-to-ceiling windows that allow for a burst of natural light to illuminate the home. Additionally, the home boasts central air conditioning, radiant heated bathroom floors, a dishwasher, and a washer/dryer unit.

 

Alas, with a great home comes a great price tag. The lux apartment is asking a hefty $1.695 million. It’s a hefty sum but it comes with perks that include building amenities like a fitness center, children’s playroom, 24-hour concierge, and a private dining room with a catering kitchen. That and the fact that you’ll be residing near Lincoln Center, the MoMA, Columbus Circle, and many more Manhattan hotspots makes it worth a thought.

LLNYC Celebrates Cover Star

The Real DealJuly 19, 2016

Martha Stewart, along with celebrity guests Terry Richardson, Barbara Corcoran, Parker Posey, Jack Ferver, Bjarke Ingels, Michael Shvo and Nicole Miller, came out last Thursday to mingle, eat and celebrate the new issue of Luxury Listings NYC. Chef Nury prepared a delectable eight-course meal (including gold-wrapped popcorn, caviar, rare wines provided by Zachys and lots of black truffles) and Bjarke Ingels later wowed the crowd by changing the colors on the Bank of America tower with his phone.

LLNYC Celebrates With Martha Stewart and Terry Richardson

Luxury Listings NYCJuly 18, 2016

“De-licious!” That was the verdict from the one and only Martha Stewart after tasting chef Yann Nury’s truffle-loaded take on a croque monsieur.

 

Stewart, along with celebrity guests Terry Richardson, Barbara Corcoran, Parker Posey, Jack Ferver, Bjarke Ingels, Michael Shvo and Nicole Miller, came out to mingle, eat and celebrate the new issue of Luxury Listings NYC.

 

The crowd gathered at the penthouse of 87 Leonard Street in Tribeca, which is currently on the market with CORE’s Emily Beare and Shaun Osher. Chef Nury prepared a decadent eight-course meal, including gold-wrapped popcorn, caviar, rare wines provided by Zachys and lots of black truffles.

 

Posey taped the 500th episode of the “Tonight Show” with Jimmy Fallon before coming to LLNYC‘s dinner — it aired that evening. Former LLNYC cover star Michael Strahan was also one of Fallon’s guests.

 

Stewart rushed from the Four Season restaurant’s closing party with longtime Martha Stewart Living senior vice president and executive editorial director, Kevin Sharkey, to the penthouse where she spent the evening catching up with her friends Terry Richardson and Alex Bolotow.

 

Meanwhile, Bjarke Ingels wowed the crowd by changing the colors on the Bank of America tower with his phone.

Can I Put My Place On The Market If It's A Total Dump?

Brick UndergroundJuly 18, 2016

Question:

 

I'm thinking of selling my apartment, but it's not in great condition. I've heard the standard for sales is that an apartment be "broom clean," with working appliances and livable, move-in-ready conditions. But is there anything wrong (or illegal) about selling a place that needs to be emptied, cleaned, sanitized, repaired, etc.?

 

Answer:

 

While you certainly can put your apartment on the market in its current, run-down condition, say our experts, it's not the wisest approach to your sale. That is, unless your goal is to sell off your property in a hurry, with the understanding that you'll be selling it at a steep discount.

 

"There is nothing 'illegal' but a great deal wrong with selling a place that is cluttered, dirty, or in disrepair," says CORE NYC Director of Sales Doug Heddings. "If maximizing your return on your investment isn't important to you and you simply wish to 'unload' the property as quickly as possible, then selling at a deep discount to market value will likely help prospective buyers overcome the obstacle of uncleanliness, clutter, or need for repairs. Price overcomes all obstacles."

 

"As far as I know, no one is serving time for trying to sell an apartment 'as-is,' but a standard Contract of Sale does contain paragraphs requiring a property to be delivered vacant, broom clean, and with working appliances," concurs Sotheby's International Real Estate broker Gordon Roberts.

 

In theory, those contract requirements can be edited out if you can reel in a buyer who will agree to it. However, warns Roberts, "Good luck finding one. [And] If you do, it’ll most likely be someone offering less than the property is actually worth, on the basis that they’d be assuming additional expense (and risk) by taking ownership of the apartment just as you’ve left it."

 

While it's tough to estimate how much of a hit your price might take for selling in these kinds conditions, Roberts says, "it could have an impact of 20 to 30 percent off recent comparable sales if the apartment is nothing special. If it has some redeeming attribute, such as location, size, or views, the discount could be less."

 

You might also run the risk in this case of your broker losing interest in marketing the place, if response from buyers is weak, says Roberts.

 

None of which is to say you have to completely overhaul your apartment ahead of the sale, but a little effort in this department can go a long way. Heddings suggests you "declutter, clean, fix and even consider fresh paint and staging to help buyers envision themselves in their new home." And as we've written previously, it's not uncommon to bring in a professional organizer for this kind of task if you're not eager to take it on yourself, and Roberts notes that "a sympathetic broker could provide professional guidance on how to get the apartment market-ready at minimal cost."

 

"There are plenty of apartments on the market that need a total renovation, so you do not have to make your apartment 'move-in-ready' by any means," Roberts explains. "But put yourself in the shoes of a potential buyer—what you describe is 100 percent negative; cluttered, poorly maintained, filthy, smelly, and in disrepair. Would you stick around unless it was priced way below market?"

 

Doing some cleaning and de-cluttering ahead of time will ultimately mean "more money in your pocket" when it comes time to sell, says Roberts, who adds, "It is, in my opinion, definitely worth the time and effort."

A Condo With A View

Brick UndergroundJuly 14, 2016

Just in time for the Ghostbusters reboot, a condo with views of the famous firehouse where the original ghost-busting crew had their offices has come on the market. This four-bedroom at 11 North Moore Street in TriBeCa overlooks Ladder Eight, whose exterior was featured prominently in the 1984 film. The loft apartment is interesting in its own right, with a layout designed by a prestigious architectural firm, featuring massive windows and luxe details. And the price shows it: The condo is listed for $9.5 million by CORE.

 

Light won't be a problem: The living area is illuminated via eight floor-to-ceiling windows facing south and west, offering views not only of the firehouse but also the Freedom Tower and the Hudson River; we bet the sunsets look fantastic from here. The open kitchen benefits from multiple exposures as well, and is equipped with upscale appliances, including what looks like a massive fridge and a large pantry.

 

Off the living room is a library that could double as a bedroom. On the other side of the apartment is the master suite, which includes a walk-in closet, a separate dressing room, and an impressive bathroom outfitted with marble tile, a walk-in shower, soaking tub, and double vanity. The remaining two bedrooms, across the hallway, each come with their own spacious closets and baths, and a fourth bathroom can be found in the living room.

Four Loft-Style Digs

MetroJuly 13, 2016

Loft-style living is nothing new in New York City, but what was once the mark of a poor artist has become a sign of a luxury life.

                     

Despite recent interest in micro-apartments, in the last four or five years, buyers and renters have also shown an interest in more open layouts, according to Eric Benaim, CEO of real estate group Modern Spaces. And it’s a trend that he sees continuing in the local real estate market.

 

As a result, new residential construction is giving apartment seekers what they want with details such as open floor plans, casement windows, high ceilings, reclaimed looking floors, subway tile, and an overall “industrial style look,” Benaim said.

 

Long Island City is one area that has taken to this trend, including The Jackson, a new condominium that opened in April. The trend can also be seen in Brooklyn and other parts of Queens.

 

Queens Pointe is a 144-unit project located at 90-02 Queens Blvd. in Elmhurst, and the former site of St. John’s Hospital. The building consists of loft-style apartment with high ceilings and large windows.

 

Like lofts in SoHo and Tribeca, that were converted from actual industrial spaces, Modern Spaces is also transforming an old schoolhouse on the Lower East Side into loft-like apartments.

 

It’s not just the upper end of buyers who tend to be attracted these loft spaces, according to Benaim.

 

“You definitely get a premium because of the [higher ceilings],” he said.

 

But “the older generation don’t really get it,” when it comes to the style, he added.

 

135 West 70th St., 3BC

 

The Upper West Side is one of the last neighborhoods known for its loft living, but this pre-war apartment, listed for $4,250,000, incorporates that style with its architectural details. These features include 16-foot ceilings and a 600-square-foot great room, expansive windows, and textures and woods throughout the four-bedroom condo.

 

25 Murray St., 3B

 

Described as a “quintessential” Tribeca loft, this home 1-bedroom, 2-bathroom home features 10-foot ceilings, an expansive exposed brick wall and hardwood floors throughout. The 66-foot long living area of the loft “can have a myriad of layouts,” including another sleeping area. Unlike lofts in this neighborhood from decades ago, this one, listed for 2,249,000, comes with a 24-hour doorman, roof deck, bike room, gym, lounge and children's playroom.

 

182 Lafayette St., 5 

 

Along with Tribeca, Soho is known for its loft spaces. This rental has been renovated, but still includes its original iron columns. The full-floor loft features a 2,500-square-foot layout and keyed elevator entrance. Details include exposed brick, hardwood floors and an open chef's kitchen. This loft is offered furnished for four to 12 months (or longer) for $14,500/month, or unfurnished for $16,500/month.

 

Four Loft-Style Digs

MetroJuly 13, 2016

Loft-style living is nothing new in NYC, but what was once the mark of a poor artist has become a sign of a luxury life.

 

CORE's loft-style listings at 135 West 70th Street, 3BC; 25 Murray Street, 3B; and 182 Lafayette Street, 5, were highlighted for their expansive layouts, prime locations, and unique features.

A Prospective Home Buyer’s Need-to-Know Guide

BrownstonerJuly 11, 2016

Home hunters, especially in an old city, may occasionally encounter a tantalizing prospect that is, confusingly, actually a commercial property rather than residential one. Such a candidate could be a townhouse with more than four apartments, a home with a store on the ground floor, or even a standalone mansion housing a doctor’s office, to name just a few of the possibilities.

 

Homeowners, whether actual or hopeful, do not typically deal with commercial property, but it is important to know that different rules may apply — especially when it comes to taxes, rent regulation, borrowing money and down payment requirements.

 

A quick definition of commercial property

 

Generally, a commercial property is any non-residential building, although some define it more narrowly as for-profit property. There are many types. Commercial property can include anything from a small storefront building to an apartment building to a shopping mall. Even community buildings such as schools and churches count as commercial property, in the broad sense of the term.

 

Home hunters in New York City are most likely to encounter two types: Townhouses or small apartment buildings with more than four units, and small mixed-use buildings, which include both commercial and residential units.

 

Conversely, residential properties can be defined as “properties that have one to four units with no commercial space,” according to mortgage banker Sarah Edelman. “A mixed-use property would be considered commercial because it has residential and commercial usage.”

 

Examples of the sorts of buildings prospective buyers are likely to encounter in Brooklyn include 144 Franklin in Greenpoint and 1306 Albemarle Road in Prospect Park South, both pictured. The first was a commercial building originally: the Mechanics and Traders Bank of Brooklyn, built in 1895 in the Renaissance Revival style.

 

In the ’80s, it went co-op and was divided into four units, including three apartments and one commercial unit. So although the structure is small and contains apartments, it remains a commercial building.

 

The second, a sprawling standalone house with extravagant interior details such as an oval dining room with tapestry-covered walls, seems an unlikely candidate to be a commercial building. But in fact, it was one until quite recently: Medical offices were located in what had originally been the kitchen, in the rear of the parlor floor. (The current owner converted the whole building back into a single-family home in 2014.)

 

Things to know before buying a commercial or mixed-use property

 

“Mixed-use properties can be partially owner occupied…however, they require a minimum downpayment of 20 percent,” Edelman told Brownstoner, adding that “borrowers can put down as little as 3.5 percent on residential multi-families,” depending on the number of units. Edelman also noted that the rental income from a multi-family can offset the monthly mortgage payment.

 

It is also important to understand that a commercial certificate of occupancy, say in the case of a storefront, can’t be changed to residential without significant difficulty.

 

Commercial properties require a commercial loan, which have higher interest rates. Closing costs will also be higher for commercial property.

 

Even after purchase, different rules apply. Commercial property is taxed at a higher rate than residential property, and insurance rates will be higher.

 

Multi-family buildings with five or more apartments may fall under New York rent regulation laws (depending on a variety of factors). City requirements for health and safety — such as as sprinklers, fire escapes, and fireproofing — are more stringent for commercial property than for homes with only one to three units.

 

Understanding a property’s certificate of occupancy and the implications of a commercial tenant

 

According to Citi Habitats commercial property broker Chris Havens, the advantages of having a commercial tenant is that they are often on a five- or even 10-year lease and can be very stable — so long as they are not a restaurant, which can have an assortment of issues. “A store is not complaining about the heat overnight and it is easier to evict stores,” Havens told Brownstoner.

 

Havens also emphasized the importance of understanding a commercial property’s certificate of occupancy before purchasing it. “The main thing is you should look at what the certificate of occupancy — an arcane document comparable to a building’s birth certificate — says about the space, because it could be being used as a store illegally,” Havens said, adding that he’s seen cases where buyers failed to look at the certificate of occupancy and did not realize until after purchasing a building that it was commercial.

The Cosmo Girl’s Lair

The New York TimesJuly 10, 2016

Helen Gurley Brown’s turreted quadruplex atop the exclusive Beresford co-op at 211 Central Park West, where she lived for four decades until her death in 2012 and which was bedecked in midcentury glamour, has finally sold. At $19,380,000, it was the second most expensive transaction of the week, according to city records.

 

The priciest sale was farther down the scenic thoroughfare. A three-bedroom three-and-a-half-bath condominium at the limestone-clad 15 Central Park West, near 61st Street, closed at $28 million. The 2,846-square-foot apartment, No. 38A, with a 211-square-foot terrace overlooking Central Park, has monthly carrying costs of $9,063.

 

Henry Hershkowitz and Heather L. McDonough of Core brought the buyer of 15 Central Park West, whose identity was shielded by the limited liability company Morningside Heights CPW. John Burger and Lauren Bankart of Brown Harris Stevens represented the seller, BZG Industries (No. 5) Ltd. of the Cayman Islands.

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