Upper Story by Charlie Palmer to Replace Astra at D&D Building

New York PostJune 16, 2014

Superchef Charlie Palmer is enlarging and transforming his cafe/events in the D&D Building.


This fall, Upper Story by Charlie Palmer will replace Astra, which closed last month after 17 years.


The D&D Building is owned by Charles S. Cohen, the commercial real-estate mogul who has branched out into film.


His production company released 10 movies last year and will soon release “Breathe In” starring Felicity Jones, Guy Pearce and Amy Ryan.


Upper Story, a completely new venue designed by Scott Salvator, will be 765 square feet larger than its predecessor for a total of over 2,700 square feet. Like Astra, it will be a modern-American restaurant at lunchtime, serving the building’s interior-design community as well as the general public.


At night it will transform into an events space that can seat up to 160. The new design, more plush than before, is meant to complement far-ranging views through windows.


Palmer is on a roll in New York: in addition to his Michelin-starred Aureole on West 42nd Street, he will also run the restaurants in the new Knickerbocker Hotel across the street, and recently made a deal to launch Crimson & Rye on the ground floor of the Lipstick Building.

Land-sale activity in East Harlem has begun to rival that to the west. In the latest transaction, HAP Investment Management bought the southeast corner of Third Avenue and 121st Street for $13 million from Tahl Propp Equities.


The 17,661 square-foot site, now vacant, includes 100 feet of avenue retail exposure.


The website for HAP, which owns several other East Harlem sites, says a planned development will include 120,000 square feet of luxury rental apartments, 26,000 square feet of commercial space, 5,000 feet of parking and 1,000 for community use — all as-of-right.


Eastern Consolidated’s Matthew Sparks, who worked both sides of the deal, cited “huge demand” for new development along Third Avenue, and said the 121st Street corner is “ideal for new construction.”

Next time we get an e-mail from retail brokers touting phenomenal demand and record rents, we’re going to tell them: “Oh yeah? Take a walk on Madison Avenue.”


Right now, we count a half-dozen vacancies on what’s supposed to be the city’s premier, Numero Uno high-end retail drag — the fabled stretch between 59th and 72nd streets.


The total doesn’t include sites currently dark but where new tenants have signed leases — like 747 Madison, where Givenchy is coming this fall.


Nor does it include storefronts under construction, such as the Carlton condo block and the Wildenstein mansion.


It does include only locations which say “retail space available” in the windows. In a truly healthy market, shouldn’t landlords have new tenants lined up before old leases expire — or at least soon after they do?

Maza Loukouma and Espresso Bar, a European-style cafe and coffee bar, has signed a lease at 30 Carmine St. The asking rent for the 500 square-foot ground-floor space between Bleecker and Bedford streets was $300 a square foot.


The landlord was repped by Eastern Consolidated’s James Famularo and Ravi Idnani. Famularo said Maza “will be a great complement” to the neighborhood’s many restaurant offerings, which include Blue Ribbon Bakery and Da Silvano.

Allied Service Center of New York City is moving and growing. The nonprofit signed a lease for nearly 24,000 square feet at 60-64 W. 35th St. between Fifth and Sixth avenues.


The asking rent was in the $45-per-square-foot range.


ASCNYC, a multiservice community organization focused on health and mental care, will move from 41 E. 11th St.


The tenant was represented by a Savills Studley team including executive managing directors Marc Shapses and Joseph Messina. EVO Real Estate repped the landlord.



Shapses said ASCNYC will have its own 35th Street entrance and signage.

Only a Fool Can Time the Market | By Shaun Osher

The News FunnelJune 16, 2014

Or a liar! Real Estate markets move, and they are moving quicker now than ever before. This is in large part due to the fact that technology has made it easier to track inventory, sales, and general consumer confidence - which is usually the most powerful determining factor of most market fluctuations. The smartest thing you can do as a buyer or seller is to ACT! 


Procrastination is the enemy of making a fundamentally good decision. If you consider the fundamentals and reason for your purchase, your goal should be to act swiftly when the opportunity arises.  The market will certainly go up from where it is (at some point in the future), and very possibly go down, but your opportunity will also move. Regardless of where you are looking to buy (or sell), if your reasons to buy (or sell) are sound, and based on factors that are defined by your needs (rather than by making a quick buck) you'll do well. In my personal experience in New York City, over the past twenty years, I have never met a person who regretted buying a piece of real estate. I have only met people who regretted not buying a piece of real estate.


Waiting for that "right opportunity" and "the right time" will paralyze your decision-making process and allow all those tangible opportunities right in font of you to be seized by someone less "smart". At the end of the day, once you've defined the reason you are buying (or selling), make sure your reason is sound. Do your due diligence on the opportunity, and if it makes sense under the current market conditions - dive in. 



By: Shaun Osher

Closing Bell: Fort Greene Fixer Upper in Contract for $3.2 Million

BrownstonerJune 13, 2014

We did a double take when we saw this flyer: A fixer upper at 252 Carlton Avenue in Fort Greene is in contract for $3,200,000 — that’s a hefty $605,000 over the asking price of 2,595,000.


The flyer says it’s 4,100 square feet, which breaks down to $632 per square foot for the ask and $780 per square foot for the contract price. It was a House of the Day in March and the listing is still online. What do you make of it?

Take it to the Top: Penthouse Deals Around Town Offer Splendid Views and Deluxe Amenities that are Surprisingly Affordable

New York Daily NewsJune 13, 2014

The loftiest bragging rights in town go to penthouse dwellers — but you don’t have to be Rupert Murdoch or Jon Bon Jovi to own trophy aeries.


True, a penthouse in the iconic Woolworth Building will reportedly hit the market this fall with a whopping $110 million price tag — but not all penthouses are triple-digit budget-busters. In fact, a buyer can still snap up a small top-floor pad in Manhattan for around $1 million, brokers said.


That sounds like a lot — but not compared to the average price for any old condo in Manhattan: $972,428.


“It’s a little secret that you don’t have to spend so much money to get onto the top floor," says broker John Harrison of Core. "When you hear ‘penthouse,’ you think ‘grand’ — and you think the price is going to be grand as well. That’s not necessarily the case."


Here are five New York City penthouses where you can live like an oil baron without a matching bank balance:


East Harlem


The Upper East Side is notorious for its expensive penthouses, but venture a little farther uptown to E. 118th St. and you’ll find this colorful two-bedroom pad for $1.02 million.


The eighth-floor pad’s owner, former Austrian pop princess and artist Doris Boris Berman, bought the two-bedroom co-op spread for $779,873 in 2011 but is now moving to Berlin, said her broker, Karla Carrington of Bond New York.


The big selling point: The apartment has its very own north and south-facing terraces, which Berman has brightened up with some cheerful-looking garden furniture.



She snagged the unit with money she got from selling her interest in a real live castle in Austria.


Financial District


Prices are rising quickly, but for now the Financial District remains one of the few neighborhoods left in Manhattan where you can still find a steal.


This one-bedroom penthouse on the 26th floor at 99 John St. is no exception with a price tag of $999,000, a bargain even for the neighborhood.


The owner recently lowered the price because he wants to sell quickly, says Core’s Harrison, who is listing the property with Michael Rosser.


The pad has lofty 14-foot ceilings and comes with access to the building’s fifth floor Zen garden, a fitness center and parking.


The former rental building was converted to condos in 2007.




The buyer of this 280 Park Ave. S. penthouse could borrow sugar from neighbor Rupert Murdoch, who just bought the five-bedroom penthouse around the corner at One Madison Park for a cool $43 million.


The pad on the 27th floor is a little more within reach than Murdoch’s glassy abode. For $1.45 million, you get one bedroom, one bathroom, cool angled glass ceilings and access to the building’s pool and gym.


The building was formerly home to New York Bank for Savings. It was built in 1984 and converted to condos by celebrated architecture firm Beyer Blinder Belle.


Murray Hill


You can watch the world go by from this pretty-in-pink penthouse on the 15th floor at 139 E. 33rd St. The two-bedroom corner coop is a bit small, but it has an impressive wraparound terrace to make up for it.


It also has a mammoth closet fit for a fashionista and a custom sound system. The price tag: $1.28 million.


Brokers Mary Beth Adelson and Jody Martini of Douglas Elliman have the exclusive listing.




This flashy aerie at 255 Hudson St. is on the pricey side at $2 million, but in a neighborhood known for celeb residents and pricey boutiques, finding a penthouse gem for that price is a victory.


The one-bedroom pad, perched atop an 11-story building, has floor-to-ceiling glass windows and 13-foot ceilings. The building has a landscaped roof deck with Hudson River views and an outdoor shower for rinsing off after a day in the sun.



If your purse strings are a little looser, a new $2.75 million duplex at Central Harlem’s Adeline building has the wow factor.


The four-bedroom pad, one of three penthouses at the building at 23 W. 116th St., has high-end finishes such as wide-plank oak floors, floor-to-ceiling windows, hand-laid herringbone tiles and marble throughout.


It’s perched atop a full-service building with a doorman, a kid’s playroom, a fitness room, a massive central courtyard and a landscaped roof terrace.


A similar apartment in the West Village would cost $8 million, listings websites show.



A (Museum) Mile in Their Shoes

The Wall Street JournalJune 12, 2014


Julie Tucker was apprehensive when her husband Adam Tucker was offered the position of president of Ogilvy & Mather in New York. She loved London, and had a great job as business director at international ad agency TBWA. The couple, both American, lived in a beautiful, terraced house in the picturesque Hampstead area, with plenty of room to raise their three children and their Welsh terrier, Fergus.


Her mood dimmed during her first apartment-hunting trip in New York. She told an agent she wanted four bedrooms, a yard and off-street parking. "They laughed at me," says Ms. Tucker, 44 years old, a native of the Chicago area. Instead, she was led through a series of small, dark rentals asking $20,000 a month. "I was really depressed."


For nearly a week, she would call her husband at day's end and tell him the move just wouldn't work. Then she suddenly changed her tune.


"She called and said, 'I've found our dream home. We have to buy this now.' We went from renting to buying really quickly," says Mr. Tucker, 45, who hails from St. Louis.


The building that seduced Ms. Tucker is on Fifth Avenue and was designed by architect Robert A. M. Stern. The yard she sought for her three children was all of Central Park, just across the street. It also was a gateway to a stretch of some of New York's finest museums: El Museo del Barrio, the Museum of the City of New York, the Jewish Museum, the Cooper Hewitt, the Guggenheim and the Metropolitan, among others. The building itself was slated to house the Museum for African Art.


One Museum Mile, as the building is called, has its own amenities: a rooftop swimming pool, and outdoor terraces with barbecue grills and granite tables that overlook the park and the Manhattan skyline. The 114 units have access to five impeccably decorated common rooms with TVs and big windows, including a dining/conference room, a living room, and a teen hangout with Wii, Foosball and air hockey. A well-stocked fitness space shares a glass wall with a play area so exercising parents can keep an eye on their children.


Despite all the good points, Ms. Tucker wondered if the neighborhood was a good fit for her young family, or whether she was taking a risk in a city unfamiliar to them. The building, built in 2008 at 109th Street, had been called a poster child for gentrification. Several New York City Housing Authority projects are located around the corner. Some of East Harlem had an edginess. At the time, in May 2012, there wasn't a supermarket nearby.


Ms. Tucker called her father, Gary Busch, a retired dentist who lives in the Chicago suburbs, for advice. Dr. Busch visited and loved it—especially the people. "Everyone is really friendly," he says.


The Tuckers made an offer for two units in 2012 (just after the building was rebranded from its original name, 1280 Fifth Avenue) for $2.2 million—paying full price but negotiating for the building to pay $50,000 in closing costs on condition the savings be used for renovation. The building was 20% sold then; now it is sold out, with one unit going for $3.6 million, said Tom Postilio, director of sales for the building.


The eight-month renovation, finished in May, cost about $500,000. The studio and two-bedroom were combined into a 2,300-square-foot, three-bedroom home, starting with a Carrara-marble entryway. The wood floor leads to seven-year-old Jack's bedroom and bath, decorated with British flags, and offering a view of train tracks in the distance. (He loves trains.)


The main living room, dining area, kitchen and playroom are open. The couple completely redid the kitchen, putting in a breakfast bar with stools and glass tile walls. The master bedroom is airy, with large windows offering park views. Olivia, 4, and Millie, 2½, share a small pink room with a walk-in closet. "It feels like an oasis in the city," says Mr. Tucker.


The Tuckers met in 1993 in Chicago when both worked at Euro RSCG Worldwide (now Havas Worldwide). They moved to the U.K. in 2001, and after Mr. Taylor became a managing partner of London's largest ad agency, BBDO London, bought a 1,700-square-foot home in Hampstead for about $1.1 million. When the couple left London eight years later, they sold the home for $2.2 million.


There are still downsides to the new home. The opening of the African Art museum, planned for the lower floors, has been delayed for years. A 10-by-12-foot storage closet in the building costs $30,000. (They declined.) The parking garage fits only 23 cars and has no direct access. (You have to go around outside.) The two daughters share a room. A local grocery store has good prices but few specialty items. There is a Dunkin' Donuts but no Starbucks SBUX +1.01% nearby.


Ms. Tucker, now executive director of marketing at the New York Times, NYT -1.28% says she appreciates her neighborhood. Once a week she takes the children to a local food pantry to donate dinner. Duke Ellington Circle, across the street, has a statue of the great jazz musician playing a piano and attracts local musicians. The Lasker swimming pool and ice-skating rink is an easy walk. So is the Harlem Meer, where the family fishes and rides bikes. "There's a vibe here you lose when you go south," she says.

Airy $12 Million Soho Penthouse Offers Up a Premier Indoor/Outdoor Living Experience

6SqFtJune 12, 2014

If you’re wondering what to do with that extra $12 million, consider the stunning penthouse triplex at 111 Mercer Street. This condo offers more than gorgeous city views, it practically invites the city in for coffee.


If you’re reading this we’re going to assume we don’t have to tell you this penthouse is flooded with light… unless, of course, you’re blinded by it. The main floor of the 3,500-square-foot ultra chic condo is framed in all glass NanaWalls that open to its expansive terraces, creating the ultimate indoor/outdoor living experience. The living room and dining area opens up to a 1,200-square-foot terrace — or let’s be honest — it’s an outdoor living room. Meanwhile the kitchen has its own terrace complete with an outdoor dining space… and a fireplace… and west facing sunset-ready views… of the Freedom Tower.


Want more?


The kitchen’s not too bad either, with Calacatta Gold marble countertops and top-of-the-line Miele appliances including a built-in espresso machine and a wine fridge.


The lower level of the home features an inviting living space, perfect for tucking yourself away for a little R&R. The master suite has a sitting area and a fireplace, and we’re imagining an old, worn Jane Austen novel just because not everything in this loft can be in pristine condition.


The master has tons of storage space, including a large walk-in closet. And the en suite has a Waterworks tub and steam shower, and radiant floor heating.


On the other side of the condo’s charming den are the second and third bedrooms, both with luxurious en suites.


The crowning jewel of this spectacular pad is… well… the crown. There’s a third terrace on the roof with glass balcony walls and views all over Soho.


This precious pad has the best of the best, with a virtual doorman and automated sound, light and shade. The next owner will also have full access to the amenities of Nolitan Hotel.



The listing is held by CORE Group agents Emily Beare and Christian Rogers.

Good Morning New York Real Estate

Voice AmericaJune 09, 2014

Michael Gross is a real estate historian, gossip monger extraordinaire who penned a best-selling book about the storied building, 15 Central Park West in Manhattan, the World’s Most Powerful Address. Michael will talk about the uber wealthy that reside at 15 CPW and the developers that created one of the most famous buildings in all of New York. Also joining the show on Monday is Julian Niccolini, a co-owner of the infamous NY Restaurant, The Four Seasons. Julian will discuss the longevity of this institution and the celebrities who frequent this establishment.

The Obamas' New York City Home Is Stunning (Or So We Imagine)

Huffington PostJune 09, 2014

While the Obamas have roots in places like Hawaii, Chicago and Martha's Vineyard, it seems they're going to be seeking a fresh start come 2016 -- sort of. According to New York magazine, the President might be eyeing a home in the Big Apple when his term ends in two years, a place that he called home during his days as a college student at Columbia University in the early '80s.


In preparation for the first family's return to NYC, we played real estate matchmaker with a little help from our friends at and Core Group real estate and picked out a few possible post-presidential homes.


Which of these other white houses do you think suits the Obamas best?

Black Tie International: The LAIO Art Pop-Up

Black Tie MagazineJune 09, 2014

June 9, 2014 - Last night, four New York women discussed their personal esthetic, including how each shares the importance of social responsibility. The panel included; Bliss Lau, designer and Adjunct Professor at Parsons The New School; Karen Bachman, jewelry designer and Professor at Pratt and FIT; Tatiana Pages, activist designer and founder of the Origomu Project & CEO of Greencard Creative; and finally Tsipi Ben-Haim, the Executive and Creative Director of CITYarts. Inc., which continues to serve New York children for over three decades.


Moderating the panel were power brokers and stars of HGTV’s “Selling New York,” Tom Postilio & Mickey Conlon, who kept the conversation bubbling; Tom broke the ice with a brief rendition of, “It had to be you”.


Held at the old “POP Burger” space, this new Pop-Up gallery is now a space for artists to display their works in the buzzing Meatpacking district. The audience was a mix of designers and students alike as well as art enthusiast and fans.


The LAIO Art pop-up was open until Wednesday, June 11th, and 60% of the proceeds from jewelry sales will be donated to AID FOR AIDS charity.



NoMad Neighborhood Puts Down Deeper Roots

The Wall Street JournalJune 06, 2014

Years ago, when Andrew Barrocas lived and worked in the Manhattan neighborhood now known as NoMad, he would walk through streets crowded with wholesalers hawking off-brand goods and wonder when the area would improve.


"It was perfectly situated….It had all the makeup, great, great architecture," says Mr. Barrocas, chief executive of MNS, a real-estate firm. "The writing was on the wall."


Today, the neighborhood—named for its location north of Madison Square Park and roughly surrounded by Flatiron, Chelsea, Kips Bay and Midtown South—has become a trendy destination. Boutique hotels, chef-driven restaurants and nightclubs have proliferated in recent years, and high-end condominium developments are increasingly following suit.


"I think developers are beginning to realize the charm, the beautiful prewar buildings, the great potential," says Doron Zwickel of CORE group, a real-estate brokerage, who is the director of sales for 241 Fifth, a 46-unit condominium building. "The retail is improving tremendously, which brings higher-profile buyers to the neighborhood, and it's just transforming—it's amazing to see how it's gone in such a short period."


Condos at 241 Fifth, which Mr. Zwickel says were among the first new apartments in NoMad to hit the market since the 2008 downturn, went on sale in April 2013, selling for around $1,650 a square foot. Prices in the building have since risen to around $2,000 a square foot, he says. The median listing price among 33 listings in NoMad last week was $2.29 million, says, or $1,925 a square foot. By comparison, the median listing price in neighboring Flatiron was $2.5 million, or $1,939 a square foot, says.


Some half a dozen new developments, mostly conversions of existing buildings, are currently under way in NoMad, brokers say. But some longtime residents are concerned by the pace of development.


"We are losing a lot of the character of the neighborhood," says Mario Messina of the 29th Street Neighborhood Association, who has lived in the area for more than 30 years and has been upset by the loss of some buildings as well as the addition of so many bars and hotels. "We are hoping for a night life that is more suitable for the kind of neighborhood we are. There is a lot of residential; there are a lot of small children."


The neighborhood, generally considered to stretch between 25th and 30th streets and between Sixth and Lexington avenues, encompasses many landmark and architecturally renowned buildings, including the New York Life Insurance Building, on Madison Avenue, and the Church of the Transfiguration, also known as the Little Church Around the Corner, on East 29th. The Madison Square North Historic District with nearly 100 buildings was created in 2001.


In the 19th century what is now known as NoMad was a center for luxury hotels, and included the area around 28th Street between Fifth and Sixth avenues known as Tin Pan Alley, for the areas's many music publishers.


In the 20th century, however, NoMad declined, and Madison Square Park suffered from crime and neglect. The revival of that park, now a popular destination and venue for concerts and other events, helped fuel the current boom, brokers say, as did the opening of the Ace Hotel, on West 29th Street, in 2009 and the NoMad Hotel, on Broadway, in 2011.


Now, high-end buyers are drawn to NoMad by its convenient location—with the Lexington Avenue and Broadway subways within its borders and Sixth Avenue line stops nearby— as well as the increasing numbers of restaurants and hotels. The Museum of Sex is on Fifth Avenue and the National Museum of Mathematics opened on East 26th Street in 2012.


"You have everything. You have the park, the transportation, and you just walk to your Midtown office," says Mr. Zwickel, who bought an apartment in the neighborhood and plans to move there later this year. "It's priceless."


Parks: The 6.2-acre Madison Square Park includes lawns, a playground and a dog run. The park has a Shake Shack restaurant and it sponsors a summer concert series for children and adults.


Schools: The neighborhood is part of Community School District 2, and nearby schools include P.S. 116, the Mary Lindley Murray School, which received an A rating from the city for the 2012-13 academic year.


Ecole Internationale de New York, a private French international school, is expected to open a new location for preschool and kindergartners at 206 Fifth Ave. this fall.


Dining: The neighborhood has become a destination for high-end dining, and choices include the Breslin Bar & Dining Room in the Ace Hotel; the NoMad restaurant; and Hanjan, serving Korean cuisine. Indian restaurants line the stretch of Lexington Avenue known as Curry Hill.


Shopping: Eataly, on Fifth Avenue near West 23rd Street, offers gourmet Italian provisions. A Fairway Market is on Sixth Avenue between West 25th and 26th streets.


Entertainment: The Baruch Performing Arts Center is on Lexington Avenue.

Good Morning New York Real Estate

Voice AmericaJune 02, 2014

Our show is about everything Real Estate to every consumer in the New York marketplace and on occasion we also focus on the national market place.


The program will provide you with the most educated approach to a deal including introduction to the most qualified resources in the business of real estate to successfully, buy and close a transaction.


In particular we will focus on the local Manhattan market. We will talk to sellers, buyers, agents, attorneys, and mortgage bankers, stagers and designers, all engaged in the deal to find success and happiness.


We will also look weekly at local and national market conditions at the beginning of every show.




What is the pulse on the market? Find out, by tuning in to Good Morning New York, Real Estate with Vince Rocco, broadcasting live every Monday at 6 AM Pacific Time, 9 AM in New York, on the VoiceAmerica Variety Channel.

Residential Deals

The Real DealJune 01, 2014

Greenwich Village

$8.1 million
23 Downing Street


Four-bedroom, five-bath, five-story, 3,700-square-foot single-family townhouse; building features 900 square feet of exterior space, including a private garden and rooftop terrace; fully renovated building features modern amenities and radiant floors. Taxes $18,123 annually. Asking price $8.995 million; seven months on the market. (Brokers: Emily Beare and David Beare, CORE; Janice Chang, Douglas Elliman)


“This was a multi-family house that was then renovated into a single-family home. They kept the façade, but then the rest of the house was a complete gut renovation. They completely recreated the space. They built in a skylight and then they put in a beautiful open staircase that looks like a work of art in the middle of the house. The light just flows down throughout the entire house. The workmanship was beautiful, as well as the materials used. Everything was very organic; it just felt very natural. And even though it was very modern, it had a very warm feel to it. It was a nice juxtaposition of having this old façade with a modern feel. I think that was a unique balance to achieve. Sometimes, in the West Village, you have these small houses that tend to be dark. But here, you walk in, and the space is completely filled with light. It was absolutely beautiful — a lot of light and air.” – Emily Beare, CORE NYC

Where Start-Ups Flourish

SCENE MagazineJune 01, 2014

Modernist photographer Alfread Stieglitz once famously noted that the Flatiron Building "appeared to be moving toward me like the bow of a monster steamer - a picture of new America still in the making." The triangular structure, situated on the ideal intersection of Broadway and Fifth Avenue at 23rd Street, has become an emblem for a New York neighborhood in the midst of highly anticipated commercial, residential and retail development.

Top Tweets from TRD's New Development Showcase

The Real DealJune 01, 2014

@ erinlryder

Wealthy international community buy new development real estate the same way they buy art - strong investment in a stable economy.



Michael Stern: higher barriers of entry for new development make prices go up. #TRDForum #realestate

Development Updates

The Real DealJune 01, 2014

Sales Updates


241 Fifth Avenue


The 46-unit condominium building, designed by Eran Chen of ODA-Architecture, and developed by Victor Homes, has sold out in 12 months. The building features one-, two- and three-bedroom apartments an two floors of penthouses. Prices ranged from $820,000 for a one-bedroom to $8.15 million for the 20th-floor penthouse. Building amenities include a 24-hour doorman, rooftop terrace, fitness center, and a yoga and meditation room. CORE is the agent. Contact: 

The Thousand List

Real Trends / The Wall Street JournalJune 01, 2014

For 2013, The Walker Team ranked 37 of out 1,000 in teams by volume in the tri-state area and ranked 191 out of 10,000+ in teams by volume nationwide.

NYC Real Estate Players Hit Panel to Talk the Future: PHOTOS

The Real DealMay 30, 2014

The Real Deal Publisher Amir Korangy served as a panel moderator earlier this week at the New York Residential Specialist (NYRS) leadership event, held at the Citibank offices in Midtown Manhattan. The panel, titled “What’s Next For New York Real Estate Companies and Agents?” included Barbara Fox of Fox Residential Group; Bess Freedman of Brown Harris Stevens; Ellie Johnson of Sotheby’s International Realty; and Fredrick Peters of Warburg Realty. Life coach Dan Abramson also addressed the group on how to grow their business. First awarded in 2007, the NYRS designation is REBNY’s premier professional credential for residential real estate agents in New York City.  To date, 328 agents from nearly 40 brokerages throughout the city are part of the NYRS network.

New York Property and the Remapping of Manhattan’s Upper East Side

Financial TimesMay 30, 2014

Manhattan’s soaring housing market is shifting the traditional boundaries of some historic neighbourhoods, as New Yorkers increasingly compete with wealthy international buyers for high-end property. Nowhere is the trend more visible than on the Upper East Side, an affluent sliver of the city long known for stately Park Avenue co-operatives and elegant townhouses.


The area traditionally stretches east from Fifth Avenue to Third Avenue and north from the border of Central Park up to 96th Street. Yet property developers, eager to cash in on New York’s real estate resurgence, are adding amenity-filled condominiums to nondescript areas nearer the East River, and less gentrified sections north of 96th Street. The new developments are enticing buyers who, just a few years ago, were less willing to pay premium prices for a property outside the Upper East Side’s long-established borders.


 “Rising real estate prices on the Upper East Side have essentially made it fair game for property developers to build new condos to meet demand,” says Jonathan Miller, president of Miller Samuel Appraisers in New York. “You now have a lot more buyers who aren’t afraid to pay for a property outside of what we’ve come to think of as traditional neighbourhoods.”


One Museum Mile, a 115-unit condominium on the corner of 109th Street and Central Park has a rooftop pool, fitness centre and expansive park views. Designed by the US architect Robert AM Stern, the property broke a local sales record when a penthouse sold for $2,100 per sq ft. The Charles is a glass-and-limestone condominium under construction on First Avenue between 72nd and 73rd Streets, where 15 large apartments, including a penthouse listed for $37.9m, have already been sold.


The expansion of the Upper East Side comes as Manhattan’s property market is reaching record levels. The median price of a condominium in Manhattan rose 13.4 per cent during the first quarter from the same period last year, setting a record at $1.35m, according to a report from Douglas Elliman brokerage.


The flurry of activity at the upper end of the market pushed the number of property sales in Manhattan to a seven-year high for the quarter while sending the average price per sq ft to a record $1,363.


Condominium sales on the Upper East Side itself are also robust. The median price of a condominium in the district rose 17.8 per cent to $1.65m during the first quarter from the same period last year, the Douglas Elliman report showed.


Much of the activity in newer condos is being driven by foreign buyers. Data compiled by Stribling & Associates estimates that international buyers now make up 30-45 per cent of the Manhattan property market. “Most of the record-breaking new condominium sales are due to foreign buyers,” says Cathy Taub, an estate agent at Stribling and Associates. “The overwhelming majority of foreign buyers will look only at new condominium product.” Among the newer condominiums attracting international buyers on the Upper East Side is 151 East 78th Street, a 16-storey development nestled among the area’s stately prewar buildings just east of Lexington Avenue. The property has 14 residences that range from three to six bedrooms and measure between 3,300 and 7,000 sq ft. Units start at $10m, with penthouses at $20m, through Stribling Marketing Associates.


Other high-end condominiums under construction on the Upper East Side include 33 East 74th Street, a 10-unit building with apartments from $14m to $50m, and 135 East 79th Street, with penthouse apartments priced from $18.5m to $28.5m.


Despite a surge in condominium construction, townhouses can still fetch enormous sums on the Upper East Side. In April, the 16-room, Fifth Avenue penthouse on East 77th Street, owned by the late billionaire Edgar M Bronfman, sold for $70m. The price is thought to be a record for a Manhattan co-op.


“There’s still an eagerness among buyers to own a piece of Manhattan history and town houses and co-ops still command quite a bit of attention,” says Oren Alexander, an estate agent with Douglas Elliman. “Prewar buildings in traditional areas of the Upper East Side will always sell well.”


Douglas Elliman is marketing several newly renovated prewar town houses on the Upper East Side. Among them is a five-storey residence on East 62nd Street just off Park Avenue listed for $25m. The brownstone measures 6,000 sq ft and has five bedrooms and six bathrooms. The ground floor has marble flooring, a chef’s kitchen and a dining room that opens on to a fully landscaped garden. The home is being sold fully furnished, with interiors by the British designer Tanja Ellis.

Bond Street Penthouse With Charming Terrace Wants $5.5M

CurbedMay 29, 2014

Nestled away on the starchitecture-dotted Bond Street is this duplex penthouse in a not-so-flashy neighbor. The 2,350-square-foot penthouse at 30 Bond Street somewhat elegantly oozes the downtown loft feel, disguised only by its few wood-clad and faux painted walls. The apartment is offering its three bedrooms, two bathrooms, and one charming private terrace for $5.5 million. And while cavernous lofts have a reputation for low-light, at least this pad has three exposures, the last of which presses up against (sigh) that dreamy 40 Bond.

Real Estate Envy: 7 Gorgeously Renovated Homes

Domaine HomeMay 27, 2014

We’ve seen plenty of renovations gone wrong, and let us tell you: paying a pretty penny for a renovated home that’s not quite your style or is a total #renovationfail is no way to start life as a new homeowner. Here to guide us in the right direction is Alex Brunkhorst, LA-based real estate agent and founder of Bungalux, who’s identified seven beautifully renovated homes around the country and shared her favorite kitchens and baths. Click through for inspiration galore!

7 Glamorous Terraces in NYC Homes

HGTV FrontdoorMay 23, 2014

There's nothing like a great outdoor space to add instant appeal to a New York City apartment, especially if it comes with panoramic views and swanky amenities. Now that warmer weather has finally arrived, we decided to round up some Manhattan and Brooklyn homes with killer outdoor spaces — roof decks, wrap terraces, river views, Manhattan skyline views, outdoor kitchens, irrigation systems and more. Click below if you want seven reasons to pine over al fresco living.

Living in a Housing Conundrum

ReutersMay 23, 2014

The spring buying season is turning out to be lukewarm as tight inventories and rising prices prevent potential home buyers like New Yorker Brigitte Paulick from finding their dream home. 

Living in a Housing Conundrum

The New York TimesMay 23, 2014

The spring buying season is turning out to be lukewarm as tight inventories and rising prices prevent potential home buyers like New Yorker Brigitte Paulick from finding their dream home. Conway G. Gittens reports.

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