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Green, Grand, Great Eats: A History of Jackson Heights and Its Future as the Next Hot ‘Hood

6sqftAugust 12, 2015

As the transformation of Queens reaches a bit deeper into the borough, it’s really no surprise that Jackson Heights is quickly becoming a focal point for savvy buyers and renters. The area, roughly bounded by Northern Boulevard, Junction Boulevard, Roosevelt Avenue and the Brooklyn-Queens Expressway, is fully loaded with stunning pre-war co-ops practically everywhere and shiny new redevelopments for under $800,000. Combine this with its diverse cultural offerings and a myriad of subways that can always get you smack dab in the middle of Manhattan in less than 30 minutes (that’s better than a lot of the up-and-coming areas of Brooklyn, mind you), it has all the makings for the next hipster-setting housing boom.

 

Some time around 1916, a planned development for Jackson Heights was set up by the Queensboro Corporation, and by 1917, with the Flushing Line subway now reaching the neighborhood, the community began to attract middle- to upper-middle class residents in droves. At that time, the area was mostly made up of mid-rise co-ops, replete with ornate exteriors done up Tudor-style with parquet floors, sun rooms and working fireplaces surrounded by newly-built churches and private parks (incidentally, the term “garden apartment” was coined here to impart the idea of apartments surrounded by a plant life). Even the iconic neighborhood golf course near 79th Street and 35th Avenue was bulldozed by the Queensboro Corporation to make way for new co-ops.

 

A very large historic district was established in 1993 covering the neighborhood’s main areas which limited glassy towers built by deep-pocketed developers and maintained a sense of what was imagined nearly a century ago.

 

Within the historic district, one of the most prestigious addresses is the Towers, a pre-war co-op at 81st Street and 34th Avenue. Made up of eight buildings framing a lovely courtyard, the Towers’ original details still remain. Nearby, there are a slew of semi-attached homes that set themselves apart from typical semi-attached homes found throughout the borough. These homes are dressed in multi-toned slate roofs, shutters, and driveway gates especially near 87th Street near 34th Avenue.

 

TODAY’S JACKSON HEIGHTS

 

In the face of rising rents across Brooklyn and Manhattan, Jackson Heights has become a very attractive alternative for new families looking for more space and a diverse, integrated neighborhood to raise their children. The area boasts a large Latino and Asian community, the latter making up nearly a quarter of the residents, and overall represents more than 70 nationalities.

 

Although not quite caught up with neighboring Astoria’s hipstery offer, Jackson Heights is steeped with great boutiques and long-loved eateries. There are hundreds of ethnic restaurants found along its streets, and as a whole, they perfectly represent the area’s melting pot community. Great spots with savory bites include Uncle Peter’s (for the ultimate Italian), Amdo Kitchen (Tibetan food from a truck), The Arepa Lady (for cheesy Colombian-style arepas), Guadalajara de Noche (for juicy, stacked high sandwiches) and Khao Kang (for some super spicy Thai). If you have a sweet tooth, the pastries at Cannelle Patisserie are in order. Caffiene addicts will love Espresso 77. Opened in 2007, it has grown so popular that it’s expanded to none other than Park Slope, Brooklyn.

 

The neighborhood is also close to Fresh Direct for pick-up or delivery, making grocery shopping quick and easy (the ultimate sign of gentrification); while a greenmarket on 78th Street hawks practically everything from gluten-free and vegan baked goods to locally-made yogurt. You’d be remiss to not explore the Jackson Heights’ standby markets, including the massive Patel Brothers where you’ll find a colorful plethora of Indian ingredients, the New York Mart which is the go-to for Chinese staples, and Thai Thai Grocery for the spiciest and sweetest of Thai goods.

 

For outdoor pleasures, Travers Park is considered the main playground and boasts a variety of ball courts for basketball, baseball, soccer and tennis. There’s a huge Halloween Parade on the main avenue every year. And there’s an annual film festival featuring local artists’ work called Queens World that has screenings in various venues in the neighborhood. The One-Room Schoolhouse Park, named after the borough’s last one-room schoolhouse, is located at Astoria Boulevard and 90th Street. An indoor playground called Fiesta Kids (off 83rd Street) will set you back about $5 to $7 a day for offerings such as music classes, soccer clubs, Mommy and Me yoga sessions and Story Time.

 

HOMES FOR SALE AND RENT

 

The current housing market if mostly made up of co-ops, single-family homes and more than a handful of newly developed rentals and glassy condos. Prices have risen in recent years; in 2014, 501 co-ops, condos and single-family houses sold at an average of $276,000, according to figures recently published in the Times, indicating an 8.2 percent increase over the average of $255,000 for the 479 listings sold in 2013.

 

Homes currently on the market for rent range from about $1,550 to $2,000 for a one-bedroom, while two-bedrooms are going for $1,700 to $2,450. MNS’s most recent Queens Rental Market Report (June) reports that prices for studios took a sharp upturn, increasing by 6.82 percent since May. One-bedrooms also showed an increase of 1.83 percent in June. No surprise if a neighborhood is identified as “going trendy.”

 

Currently, CORE has a listing at the Versailles at 76-10 34th Avenue (above). This high-end two-bedroom co-op comes in at about 900 square feet and is priced at $398,500. The bathroom has recently been enlarged and renovated, and along with lovely views of Manhattan, there is access to a wraparound communal garden. The unit’s floors are hardwood and the ceilings are high. Another CORE co-op is inside the Madison at 35-06 88th Street. Inside the Historic District, the first-floor one-bedroom unit is made up of about 900 square feet and features its original hardwood floors, a windowed kitchen and lovely archways. The building offers a communal garden and is priced at $317,500.

Ben Jacobs + Emily Beare | CORE, 1 Centre Market Place

Modern NYCAugust 10, 2015

$6,950,000

 

1 Centre Market Place is a sophisticated and contemporary home built in 2006 by the famous NYC designer and developer duo, Robert and Courtney Novogratz. This rare 18-foot wide townhouse, perfectly located on a quiet, low traffic block on the border of Soho and Nolita is truly a unique offering. The four story 4,100-square-foot home has everything your heart desires including 5 bedrooms, 3 full bathrooms, 2 powder rooms, 2 terraces and a beautiful sun drenched roof deck overlooking the magnificent Renaissance Revival dome of the famous Police Building.

 

Having just undergone an extensive renovation, 1 Centre Market Place is without a doubt in
turn-key, move-in ready condition. Renovations and updates include: new exotic hardwood
floors, new hardwood moldings, fresh paint, new light fixtures, radiant floor heating throughout the entire house, new Siedle security system, new Nest heating/cooling system, new central Vacuflo system, upgraded electrical with smart outlets, and new noise cancellation/air-tight insulation throughout all of the walls/ceilings. Other amazing improvements to this townhouse feature updated Yamaha speakers with a brand new separately zoned (indoor and outdoor) Russound Audio System that can be controlled manually or by Bluetooth.

 

On the main floor the spacious living room and gourmet chef's eat-in kitchen features custom wooden cabinetry, stone countertops, Viking cooktop/oven/warming drawer/microwave, Sub-Zero refrigerator, Miele espresso machine, Miele dishwasher, and two skylights. Encompassing the entire second floor, the master suite includes a terrace, massive walk-in closet with custom built-ins and large master bathroom with a soaking Jacuzzi tub and stand up shower. The third and fourth floor offer 4 additional bedrooms, two split bathrooms and two walk-in closets. The fourth floor also has a terrace. In addition there is a finished basement with heated floors, powder room, enormous crawl space for additional storage and a laundry room with sink and Maytag W/D. 

Success or Excess: What’s Behind Manhattan’s New Residential Sales Record?

The New York TimesAugust 07, 2015

Manhattan added a new superlative recently when the average price for a residence was reported to have hit $1.7 million, the highest ever. The milestone was hailed as proof the real estate market has bounced back from the 2008 recession, and indeed, the good times seem to have returned for some, including the real estate industry. But can anyone who doesn’t run a hedge fund still get in?

 

The Eight-Figure Apartment

 

A key reason for the gaudy numbers is that the higher end of the island’s real estate market is exploding. In yet another indicator that the richest of the rich have had the best recession recovery, sales of $10 million residences have doubled since 2009. (That’s adjusted for inflation, meaning that the 2009 numbers include anything that was over $9 million at the time.)

 

One Madison 

 

Ten $10 to #15 million apartments sold in this building, which languished unfinished for years after the 2008 bust.

 

COMEBACK One Madison was built in 2007 but foundered during the recession and remained unfinished for several years. Buyers, which have included Tom Brady and Rupert Murdoch, are now scooping up its eight-figure apartments, many at double their 2007 prices.

Homes for Sale in Brooklyn and Manhattan

The New York TimesAugust 07, 2015

Bed-Stuy Brownstone $1,350,000 | BROOKLYN 900 Lafayette Avenue

 

A five-bedroom, three-and-a-half-bath circa 1899 brownstone, now divided into a garden-level two-bedroom one-bath unit and an upper duplex with three bedrooms and two and a half baths. Open house Sunday, noon to 2 p.m. Paul Johansen, CORE (917) 612- 1912; corenyc.com

Related CEO Jeff Blau Parts Ways with 1040 Fifth Pad for $30M

The New York ObserverAugust 07, 2015

We doubt real estate executives get too sentimental over the sale of their apartments, particularly lucrative ones, but now would be the time, if there ever was one, for Related CEO Jeff Blau and wife Lisa to shed a few tears over their old co-op at 1040 Fifth Avenue.

 

After one year and a few not-so-negligible price cuts, the Related Companies CEO and his wife have sold the apartment to Tulpe LLC for $30 million; the co-op went into contract this April, as the Observer previously reported.

 

The Blaus purchased the eleven-room apartment for $21.4 million in 2008 and after a perfectly respectable tenure of six years, listed it for more than twice the amount—$43 million in 2014.

 

The apartment was featured in Architectural Digest. (StreetEasy) In all fairness, the couple has shown themselves willing to pay premium prices for their personal real estate—last year they purchased a townhouse 113-115 E. 70th Street for a widely-discussed $51 million from former Coach executive creative director Reed Krakoff—so perhaps they expected the same of a buyer. No matter, the 1040 Fifth pad is sold now. And $30 million is no pocket change. While it might not have quite the same level of luxury as their new townhouse, it’s hardly shabby—the four-bedroom, 4.5-bath co-op was featured in Architectural Digest in 2011 after a three-year renovation by Shelton, Mindel and Associates. Mrs. Blau told the magazine that she and her husband both like a “modern aesthetic,” and that  Mr. Mindel was able to satisfy her love for color and her husband’s preference to stay away from it by selecting a tangerine and lime palette for the living room and dining room, and throwing in colorful accents elsewhere.

 

Mr. Blau kept it in the Related family with the brokers—Emily Beare and Elizabeth Beare at Core (Related purchased a fifty percent stake in Core in 2014). The Mlles. Beares had no comment on the sale, but per the listing, the co-op has a private elevator landing and features original herringbone floors, a planting terrace, and a wood-burning fireplace. The tastefully done en-suite master bedroom, meanwhile, has its own private terrace and no less than four closets.

Here Are the Resi Experts Coming to TRD’s China Showcase

The Real DealAugust 05, 2015

To date, the following individuals have confirmed their participation: Fredrik Eklund of Douglas Elliman, Andrew Heiberger of Town Residential, Stephen Kliegerman of Halstead Property, Jonathan Miller of Miller Samuel, Miki Naftali of the Naftali Group, Shaun Osher of CORE, Eran Polack of HAP Investments, Shlomi Reuveni of Town Residential and Jonathan Simon of Simon Baron Development. 

Saturating Social

The Real DealAugust 01, 2015

The day after mega brokerage Douglas Elliman launched its new 300-plus-page magazine this spring, its top executives and brokers took to social media. 

Charming East Village Apartment Asks a Wee $495,000

CurbedJuly 31, 2015

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.

 

This East Village apartment on 11th Street between avenues B and C might not look like much from the get-go, but it's got all the makings of a lovely little house: a whitewashed exposed brick wall, an updated kitchen, a windowed bathroom, a washer and dryer, and access to a communal backyard. Yes, the bedroom is teeny tiny, but so is the apartment's ask: it wants just $495,000. It also comes with a built-in gym membership in the form of five flights of stairs.

Manhattan’s Top 10 Condo Flips

The Real DealJuly 29, 2015

The next four most profitable flips were all at Related Cos. and HFZ Capital Group’s One Madison, at 23 East 22nd Street in the Flatiron District. The units – including two 14th-floor apartments sold by owner Michael Wolf for a combined $8.8 million – netted their owners a total profit of $5.2 million, or a 31 percent markup, mere months after the initial purchases.

 

David Anthony: Licensed Real Estate Salesperson, CORE Group Marketing

The Native SocietyJuly 22, 2015

What's Your NativeAdVantage: Licensed Real Estate Salesperson at CORE Group Marketing

 

Bio:

 

Securing local and international clientele with his charismatic personality, superior level of professionalism and passionate approach, David Anthony has established himself as a key player in the New York City real estate market. As a Licensed Real Estate Salesperson at CORE, he works tirelessly to
 educate each of his clients in order to achieve their lifestyle and financial needs. Offering almost a decade of client services, he is well versed on the nuances of working with both buyers and sellers throughout several of Manhattan’s most popular neighborhoods. David currently holds a designation as a Certified Buyer Representative (CBR®).

 

Before entering the real estate industry, David moved to New York City to study Fashion Advertising and Marketing Communications at New York City's Fashion Institute of Technology. As a result, he has held coveted positions in both sales and public relations for some of the world's top luxury brands, including Louis Vuitton, Burberry and Gucci. “I am an advertising and marketing specialist that just so happens to work with amazing properties everyday.” For that reason, David believes his professional experiences have provided him with the key characteristics and traits that help him successfully navigate his clientele through Manhattan’s housing market. When David is not working, he is out discovering new and exciting places to eat throughout the city and admiring the architectural designs of many of Manhattan’s most iconic buildings. In addition, when able, he commits several hours to volunteering with various organizations through New York 
Cares.

 

What do you do best?

 

I am best at being me!!! There is only one David Anthony and I didn’t get into real estate to be average. Stay tuned!

 

What makes you the best?

 

I think overall I have an amazing personality with a lot of confidence (can’t you tell) and that helps make me the best. The ability to connect with my clients, listen to them and understand them is something that is not easy for many to do effectively. Throughout my professional career thus far, I can honestly say that 95% of my clientele has crossed over to become more than just a client. They are individuals that I have developed great friendships with. The other 5% must have lost me number some how. Here is another little insight I will share about what makes me the best. HAVING FUN!! There is a time and place for everything, but don’t forget to enjoy this journey called LIFE.

 

How will you stay the best?

 

My formula for staying the best is very simple: faith, belief, confidence and hard work.

 

What are your aspirations: business & personal?

 

Personal: My personal aspiration is to be an overall better person than I was yesterday. Each new day I want to grow more, learn more, help more, do more and most importantly enjoy life more. I would love to one-day start a family.

 

Business: My business aspiration would be to grow and expand my brand as a real estate broker and ranked among the top-producing agents of New York City. Many of my CORE colleagues have been ranked , so I am in a great environment to learn. I also want to fulfill my longtime dream of developing a luxury-clothing brand, focusing on men’s suiting.

 

What fascinates you?

 

Hearing the success stories of others truly fascinates me. Their successes motivate and inspire me to work even harder. It helps me to never give up on my dreams. It reminds me that if they did it, I can do it too!

 

Favorite Motto?

 

LIVE life to the fullest, LAUGH often and LOVE what you do! Everything else will fall into place.

 

Favorite People?

 

My favorite people are the individuals in my life that genuinely and wholeheartedly believe in me. They motivate me to be the absolute best at any and everything I do. I am grateful to have my mother and father as my #1 supporters. I love you mom and dad!!! Although she is technically not a person, I have to include my Italian Greyhound, L’Oréal. She is the most sweetest, loving, adorable dog in the world. She loves me unconditionally and brightens up my day. (You have to be a dog owner to fully understand)

 

Favorite Places?

 

I need to get a few more stamps in my passport before I can answer this question. There are so many places I have yet to explore. Send me some suggestions!

 

Favorite Products?

 

For some reason when I think about my favorite product(s), skin care products first come to mind. So, we’ll go with that. My favorite skin care product is a mint julep masque. Twice a week you can find me at home with this green masque on my face for hours while I watch TV and clean around my apartment.

 

Current Passions?

 

I am very passionate about my career to the point that I probably could be clinically diagnosed as being a workaholic. When I am in work mode, I tend to work very long hours. It’s very common to find me up at 3am researching properties for a client or just keeping myself familiar as new listings and buildings hit the market. However, on the flip side, I absolutely love what I do, so it doesn’t feel like work to me. Even when I am watching TV the channel stays either on the HGTV or DIY network. When I do manage to pull myself away from work. I am also passionate about spending quality time with my amazing family and friends who I have neglected because I am a workaholic. LOL

Michael Lessner: Real Estate Salesperson, CORE

The Native SocietyJuly 22, 2015

What's Your NativeAdVantage:

 

Bio:

 

Michael Lessner joins CORE as an experienced real estate salesperson. Teamed with top-producing Associate Broker Maggie Kent, Michael supports and expands on all business endeavors. He is considered a consummate professional, always keeping his clients best interest at heart. His personable approach, trustworthiness and ability to creatively problem solve in any situation is what sets him apart in the industry. Prior to CORE, he worked in both digital analytics and sports marketing for two of the largest companies’ in their respective fields. These unique experiences enable Michael to strategically research, evaluate and market for his sellers and buyers and address their specific needs. Michael is a graduate of Syracuse University with a Bachelor’s Degree in Marketing and Entrepreneurship and Emerging Markets.

 

What do you do best?

 

I enjoy connecting with people. If you don’t understand someone’s goals and motivations, it’s very hard to deliver results. People are smart, they can tell when someone isn’t looking out for their best interests.

 

What makes you the best?

 

Never becoming satisfied with being the best. There is always better. Reaching and then exceeding goals and expectations is the fun of it.

 

How will you stay the best?

 

Embracing how much more there is to learn, surrounding myself with people much smarter than me and constantly moving forward.

 

What are your aspirations: business & personal?

 

Personal: Enjoy life, travel, try new things

 

Business: Continue to grow my business the right way. Never be satisfied. Never lose why I got in the business.

 

What fascinates you?

 

Studying the paths of successful businesspeople.

 

Favorite Motto?

 

Work like there is always someone working twice as hard.

 

Favorite People?

 

Family

 

Favorite Places?

 

Elberon, NJ

 

Favorite Products?

 

Apple

 

Current Passions?

 

Family, friends, sports, good food

Mapping ODA's Dozens of New Boxy Buildings In NYC

CurbedJuly 21, 2015

It seems like every week, plans for a new building are filed by the architecture firm ODA. Over the last two years, we've written about nearly three dozen different projects by ODA, ranging from towers on the Brooklyn waterfront to small boutique buildings on the Upper West Side. The firm has clearly become a go-to for developers big—TF Cornerstone tapped ODA for phase two of Hunters Point South—and small, and the firm has solidified its position as the experts of Jenga-tecture, i.e. buildings that look like stacked boxes. To track this proliferation of Lego-like structures, we mapped 34 of ODA's most recent commissions—some of which think outside the box.

Lisa Graham | CORE, Museum Tower

Modern NYCJuly 20, 2015

$8,390,000

 

One-of-a-kind, 4-bedroom corner residence boasts breathtaking Central Park and skyline views at the award-winning and world-renowned Museum Tower. This triple mint condition home is the result of two adjoining units being meticulously renovated and combined to form an expansive 3,454-square-foot residence of extraordinary scale and light in the most desirable line in this iconic building.

 

Upon entering this impressive residence, you are drawn to the grand living and dining room featuring high ceilings and oversized windows that frame awe inspiring northeast views, with the famed Museum of Modern Art (MoMA) Sculpture Garden below.

 

Exceptional details and custom finishes are featured throughout, including an immaculate Poggenpohl windowed kitchen with top-of-the-line Miele appliances. Wide plank solid oak flooring and the finest custom oak millwork have been installed throughout the home. The luxurious bathrooms feature custom Poggenpohl cabinetry and wall paneling and rainforest glass showers. This gracious abode also features two Miele washer/dryers, electronically controlled window treatments and custom lighting, a built-in sound system, and fitted closets throughout. All bedrooms are generously proportioned and a very large master suite and walk-in closet have been created as result of the combination of the two units.

 

The Museum Tower Condominium is part of the prestigious MoMA complex and is located in the heart of Midtown, among Manhattan's finest shopping and restaurants. The incomparable white glove building has an attentive staff of 52, and offers optional maid, laundry, and valet services. A spacious, well-appointed fitness center with a sauna is on the premises (nominal fee), as well as media, conference and wine tasting/storage rooms, and a beautiful landscaped roof terrace overlooking the MOMA garden.

David LaChapelle Net Worth: Surrealist Photographer Selling New York Pad

Realty TodayJuly 17, 2015

David LaChapelle placed his apartment at 427 West 21st Street, Chelsea, New York City in the market for $2.469 million, as reported by an article on Curbed.

 

In an article from 6Sqft, the 19th century apartment has one-bedroom and one-bathroom and has 12-foot high ceilings with hand-carved crown molding. It also has French doors, a bay window, floor-to-ceiling windows, three wood-burning fireplaces, etched glass door inlays, stained oak floors and medallion-wrapped light fixtures. The article added that the house has 8-by-14-foot terrace and a modern chef's kitchen.

 

In addition, as stated in a listing from Street Easy, the front entrance of the apartment has a grand dining room that can be divided into a formal space by sliding wood doors or changed into a living room. The dining room is near the master bedroom. The listing added that the kitchen is adjacent to a living room and a private terrace overlooking the clock tower of General Theological Seminary across the street. The landmark can also be seen through the floor-to-ceiling windows.

 

The one story apartment has four rooms, a center dressing area that includes four closets with built-in shelving and hanging storage, a closet in a bedroom, floor-to-ceiling bookcases, and a basement, as a listing from Zillow described. The listing added that the townhouse has a magnificent landing area with crystal chandelier and original wood banisters. Also, washer and dryer are in the basement. Pets are also allowed but case by case.

 

In addition to the report from Curbed, the photographer bought the house last 2011 for $1.74 million.

 

Pictures of the house can be seen in Curbed, Core NYC, 6Sqft, and Zillow.

 

In the meantime, David LaChapelle, a photographer and director has a net worth estimated at $5 million, as reported from Celebrity Net Worth. In the article from 6Sqft, the photographer is known for shooting Madonna, Michael Jackson, Leonardo Dicaprio, Lady Gaga, and other celebrities in some weird situations. 

Famed Photographer David LaChapelle Lists His Stunning Chelsea Home for $2.5M

6sqftJuly 16, 2015

Photographer David La Chapelle, best known for shooting everyone from Madonna to Michael Jackson to Leonardo Dicaprio and Lady Gaga in some seriously weird situations, has just listed his West Chelsea co-op at 427 West 21st Street for $2.469 million. Surprisingly, unlike the photog’s audacious pop-surreal works, his apartment is far more subdued, sporting a very classic look with simple pops of color and patterns selectively emerging throughout the home.

 

The one-bedroom, one-bathroom home is a massive bright beauty situated along one of Chelsea’s prettiest streets, the neighborhood’s Seminary Block. Inside the floor-through 19th century parlor residence you’ll find 12-foot high ceilings, hand-carved crown molding, French doors, a bay window, floor-to-ceiling windows, three wood-burning fireplaces, etched glass door inlays, stained oak floors and medallion-wrapped light fixtures.

 

There’s also a very large 8-by-14-foot terrace to complement the home’s generous proportions and its modern chef’s kitchen; the “ideal space for indoor-outdoor entertaining,” says the listing.

 

LaChapelle originally purchased the home back in 2011 for $1,739,500. He also has a home in Los Angeles, and briefly quit the business a several years ago to live off the land in Maui.

Surrealist Photographer David LaChapelle Selling Subdued Pad

CurbedJuly 16, 2015

For a man who dreams up such surreal photos, David LaChapelle's Chelsea apartment is surprisingly subdued. When the Post reported that the veteran photographer would be putting his parlor level apartment at 427 West 21st Street on the market for $2.469 million, the announcement stirred all kinds of images of a home awash in LaChapelle's familiar green neon light. But nope. The listing, which went live today, shows a more standard, albeit lovely, one-bedroom apartment with a little porch and three fireplaces. LaChapelle has owned the apartment since 2011, when he bought it for $1.74 million.

Manhattan's 10 Most Expensive Condo Towers Had More Than $2.7 Billion In Sales Last Year

Business InsiderJuly 15, 2015

Manhattan’s 10 highest-grossing high-rise condominiums racked up total sales of more than $2.7 billion over the past year, according to a new ranking by The Real Deal.

 

Leading the pack was Extell Development’s One57, which sold product worth a total of $1.1 billion in the one-year period ending June 2015.

 

That’s $700 million more than its next closest competitor.

 

One57’s perch atop the rankings comes as no surprise, given that a single penthouse there sold to a mystery buyer in January for $100.5 million, the priciest apartment sale in New York City history.

 

In total, 36 units were sold in the skyscraper over the past 12 months. The tower is the subject of a new report from the Independent Budget Office that looksat its 421a abatements.

 

Tribeca Associates and Starwood Capital Group’s Baccarat Hotel and Residences, which did total sales of $302.7 million across 32 apartments, came in second on The Real Deal’s ranking of top-selling condo high-rises. The luxury building launched sales in March 2013 and is now over 75 percent sold, according to Kelly Kennedy Mack, president of Corcoran Sunshine Marketing Group, which is handling sales.

 

The Baccarat “has earned its place among New York’s most coveted ultra-luxury properties,” Mack said. “There’s been an incredible amount of global attention on the opening of the hotel, but the real excitement for the real estate community is taking place on the floors above.”

 

In April, a four-bedroom apartment in the building closed for $19.8 million. The building’s duplex penthouse is listed for $60 million.

 

Ranking third for the year was Related Cos. and HFZ Capital Group’s One Madison, the CetraRuddy-designed tower on the south side of Madison Square Park. The building, which launched sales in 2013, sold 34 units totaling $210 million in the last year.

 

At this point, one sponsor unit remains, and the closings in the past year were a mix of sponsor sales and resales, according to Tim Crowley, director of new development at CORE Marketing, the firm handling sponsor sales. Earlier this year, Rupert Murdoch listed his triplex penthouse there for $72 million, though he plans to keep a smaller apartment in the building. He bought the pair for $57.3 million in February 2014.

 

Crowley said One Madison sold out at a healthy rate, remarking that “at no point did it feel like it was selling slowly or feel like it was absolutely flying off the shelves.” The tower’s height and its corresponding lofty views helped it stand out in a mostly mid-rise neighborhood and helped sales, he said.

 

Of the vast gap between One57 and other high-rises in terms of dollar sales volume, Crowley said apartments in Extell’s building tend to be much larger on average.

 

“I would be absolutely floored if their total dollar was not a result of the aggregate square footage that makes up,” he said.

 

Fourth in the ranking was Zeckendorf Development’s limestone classic, 15 Central Park West, with $194.3 million in resales across just 14 units.

 

Taking fifth place was Macklowe Properties and CIM Group’s 737 Park Avenue, an Upper East Side prewar conversion that after numerous legal battles, launched sales in 2013. The building saw $192.6 million in sales across 18 units — a combination of resales and sponsor sales. Earlier this year, the penthouse sold for $32 million.

 

Total sales volume for all high-rise — defined as being 10 stories or more — condo buildings in Manhattan was $12.4 billion.

 

In June, The Real Deal reported on concerns over dwindling demand for uber-luxury New York City condos.

Picture Perfect

New York PostJuly 15, 2015

Artist/photographer David LaChapelle is listing his Chelsea apartment inside a townhouse at 427 W. 21st St., where he has owned for four years, for $2.46 million.

 

The one-bedroom, one-bathroom, parlor-level pad boasts details like hand-carved plaster moldings, wood trim, 12-foot ceilings, custom cabinetry and three marble fireplaces.

 

The home is smart wired and well planned for entertaining with a chef’s kitchen and private terrace surrounded by “century old trees,” says a prior listing.

 

The listing brokers are Heather McDonough and Henry Hershkowitz, of CORE.

Here are Manhattan’s Top High-Rise Condos by Sales Volume

The Real DealJuly 15, 2015

At this point, one sponsor unit remains, and the closings in the past year were a mix of sponsor sales and resales, according to Tim Crowley, director of new development at CORE Marketing, the firm handling sponsor sales. Earlier this year, Rupert Murdoch listed his triplex penthouse there for $72 million, though he plans to keep a smaller apartment in the building. He bought the pair for $57.3 million in February 2014.

 

Brokers Weekly Gallery

Real Estate WeeklyJuly 15, 2015

CORE's 93 Worth Penthouse Cocktail was featured in this week's Brokers Weekly Gallery.

 

The Latest LaChapelle Show: Photog’s $2.4M Chelsea Pad

New York PostJuly 15, 2015

Artist/photographer David LaChapelle is listing his Chelsea apartment inside a townhouse at 427 W. 21st St., where he has owned for four years, for $2.46 million. The one-bedroom, one-bathroom, parlor-level pad boasts details like hand-carved plaster moldings, wood trim, 12-foot ceilings, custom cabinetry and three marble fireplaces. The home is smart wired and well planned for entertaining with a chef’s kitchen and private terrace surrounded by “century old trees,” says a prior listing. The listing brokers are Heather McDonough and Henry Hershkowitz, of CORE.

Ben Jacobs: Licensed Real Estate Salesperson, CORE

The Native SocietyJuly 14, 2015

What's Your NativeAdVantage: I moved quite a bit when I was younger. I was born in Burlington, Vermont and moved to Miami Beach, Florida when I was 9 years old. We kept our house in Vermont which I frequent often. Before Miami, when I was 7, my family and I lived in South East Asia for 1.5 years (Thailand and Vietnam). Having to restart a new life has its challenges and benefits. The benefits certainly outweigh the challenges. I think living and interacting in several different places with different cultures and identities has enabled me to be very open minded. I love the thrill of meeting new people and having new adventures. I find that most people are afraid of change simply because it can be discomforting. But if you can get over the discomfort, you will be surprised with how much you learned from that process. My advantage is my ability to welcome change as an opportunity to see and experience something new. You can put me in a room full of strangers and I’ll leave with a handful of friends. Real Estate has certainly quenched that need for adventure because you never know what is passed that front door.

 

Bio:

 

Ben Jacobs is a Licensed Real Estate Salesperson with CORE. Ben has been instrumental in the sale of over $40 million in residential transactions. From conducting property searches, managing showings and open houses, and analyzing property and industry trends, he is well-versed in overseeing sales and rental processes on behalf of both buyers/tenants and sellers/landlords. Ben has a tremendous skill set including the creation of marketing collateral and convoluted board packages for both condominiums and cooperatives. Ben’s outstanding social and communication skills further assure clients that they are making an informed decision at every stage of the transaction process. He is a graduate of Skidmore College and in his spare time, he enjoys watching movies, playing tennis, fishing, exploring, and traveling. Ben currently lives in the Williamsburg section of Brooklyn.

 

What do you do best?

 

Connect with people. I am very honest and open. I find that my open demeanor makes people feel very comfortable around me.

 

What makes you the best?

 

I come from a family of hard workers. My mother and father started from nothing but because of their dedication and hard work, we managed to persevereand succeed. Over 40 years ago, my father began buying and managing commercial and residential property in Vermont. My brother, Jesse, runs the company now and has grown the business since. Without a doubt, real estate has always been the dominate topic of conversation at the kitchen table. I have been around the business my entire life. My parents instilled in me and my brother the value of hard work which I truly think is what makes me the best at what I do. My dad always reminds me “the harder you work, the luckier you get.” I was always taught that nothing comes easy, no one thinks you’re special, and that you have to earn your keep.

 

How will you stay the best?

 

I think focusing on yourself and not worrying about what is on other peoples “plates” is the best way to get through your day. There is always going to be that person down the hall who makes more money than you and who has more connections than you. But the reality is none of that is important. What matters is how you feel at the end of the day. If you can go home and look at yourself in the mirror and confirm that today you did your absolute best then I think you’re winning the uphill battle of this game called life. I become the best by focusing on myself and focusing on getting better at my job. At the end of the day, I am the only one who can control that, no one else.

 

What are your aspirations: business & personal?

 

Personal: To keep learning. Sometimes I feel that I get so caught up in the mundane “work routine” that I feel like I am missing out on something else. Reading, exploring, having new experiences keeps the mind fresh and builds character. I sometimes lose sight of that.

 

Business: I want to expand my business and continue to service clients in buying/selling their homes and/or investments. Simultaneously, I plan on getting involved with my family business. But I will always stay with the brokerage side of real estate. I love working and connecting with people on the customer service side of the business. Besides, looking for real estate in NYC is a thrill in itself. You never know what you’re going to find or who you’re going to meet.

 

What fascinates you?

 

People.

 

Favorite Motto?

 

I'm not sure about a Motto but my favorite quote is about “Persistence” by Calvin Coolidge. “Nothing in this world can take the place of persistence. Talent will not: nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not: the world is full of educated derelicts. Persistence and determination alone are omnipotent. “

 

Favorite People?

 

My Parents and Brother. We are very close.

 

Favorite Places?

 

Burma. I travelled around the country for 40 days 10 years ago. I have still yet to experience a place nearly as interesting.

 

Favorite Products?

 

Good question.

 

Current Passions?

 

Watching movies, reading, writing, and traveling. My favorite movie is True Romance. My new favorite book is “Unbroken” by Laura Hillenbrand. The next place I hope to visit is Buzios, Brazil.

NYC's Premier Properties

Luxury Listings NYCJuly 14, 2015

Heather McDonough and Henry Hershkowitz's listing at 211 East 13th Street is featured in the July/August issue of Luxury Listings NYC.

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