Leverage Global PartnersApril 23, 2014
Those of us that love and admire home architecture have styles we prefer. Some of us like our homes traditional, or with a bit of Mediterranean flair, while others cannot get enough of modern architecture. With its clean lines, open floor plans and innovative, thoughtful structures, today’s modern residences are something to behold.
Have we peeked your curiosity? Check out these 10 ultra-luxurious modern properties from our Leverage Global Partners
Unilever Snags Two Floors Atop Tribeca’s 99 Hudson Street
The Real DealApril 23, 2014
Anglo-Dutch multinational consumer goods company Unilver has inked a deal for 30,000 square feet in JCM Holding’s 99 Hudson Street in Tribeca.
The firm’s spread takes up the 16-story building’s top two floors, Crain’s reported. The space includes an outdoor roof deck, and the asking rent was $78 per square foot — one of the highest rates paid in the area.
Cushman & Wakefield’s Alex Cohen represented Unilever in the deal, while a CBRE team led by Paul Amrich represented JCM.
JCM purchased the top three floors at 99 Hudson Street for roughly $18.5 million, formerly owned by the NAACP Legal Defense and Educational Fund.
Crain's New YorkApril 22, 2014
The European consumer-goods colossus takes 30,000 square feet of space on the top two floors at 99 Hudson St., with an asking price of $78 per square foot.
A pricey new lease has been signed at a TriBeCa office building in a transaction that shows how midtown south's high rents have begun to seep southwards for top quality space.
Unilever, the European consumer goods colossus that manufactures food and personal care products, has taken the top two levels at 99 Hudson St., floors 16 and 17. The space totals roughly 30,000 square feet and includes exclusive access to an outdoor roof deck, an increasingly popular amenity that tenants have shown a willingness to pay a premium for. Asking rent for the space was $78 per square foot, one of the highest rental rates in the area.
The lease appears to validate a bet on the space placed a year and a half ago. That's when a new real estate firm called JCM Holdings purchased the top three floors at 99 Hudson St. for about $18.5 million. JCM was started by two young real estate executives: Matthew Cassin, who was formerly with Tishman Speyer; and David Taylor, who had worked previously at SL Green Realty Corp. JCM purchased the top three floors at 99 Hudson St. for about $18.5 million. The space, which was an office condominium within the 180,000-square-foot property, was formerly owned by the NAACP Legal Defense and Educational Fund according to reports at the time.
Unilever will use the space as a location for executive staff in the city. The length of the lease was not immediately known.
Downtown has gained attention in recent months as an increasingly popular destination for office tenants seeking quality space at a discount to midtown south and midtown. But the deal at 99 Hudson St. shows that prime space can still command a hefty premium.
Cushman & Wakefield broker Alex Cohen represented Unilever in the deal. JCM was represented by a leasing team from CBRE Group led by Paul Amrich, a broker at the company.
Voice AmericaApril 21, 2014
In Real Estate it takes time to earn success in New York. The learning curve is steep and the market demands both skill and connections. Most of the very successful agents in town are over the age of 40 and have been in the business a very long time. Recently The REAL Deal, a New York industry publication, set out to find the under 35 year old agents that are making a splash in residential, commercial and new development deals. Guests: Jason Meister – Avison Young Nile Lundgren – Dallien Realty Rachel Atlschuler – Douglas Elliman Real Estate Justyna Czekaj – Spire Group NY Parul Brahmbhatt – CORE Real Estate
CurbedApril 19, 2014
A huge single-family townhouse in Greenwich Village closed earlier this week for $8.1 million, according to CORE. The home at 23 Downing Street was purchased by developer Good Property LLC in 2011 for $3.3 million, who contracted Turett Collaborative Architects to spearhead some serious gut renovations completely rebuild the house. Over a two-year period, the original house, which was marketed as "a real fixer upper," was torn down and the new five-floor, 3,700-square-foot home was erected in its place. It has 900 square feet of exterior space, including a private garden and rooftop terrace, plus salvaged wide plank oak flooring and a bunch of other nice details. It was first listed last June for $9.95 million, and the price was dropped to $8.995 million in September.
Greenwich Village Townhouse Sells for $8.1M
The Real DealApril 19, 2014
A restored single-family townhouse in Greenwich Village sold for $8.1 million this week.
The 3,700 square-foot residence at 23 Downing Street had been on the market for nine months with Core’s Emily Beare and David Beare before landing a buyer, who had not been disclosed.
Developer Good Property LLC previously bought the four-bedroom, five-bath home in 2011 for $3.3 million. Good Property hired Turett Collaborative Architects to build a new structure on the site before putting it back on the market in June 2012.
The original five-floor townhouse was built in 1826.
DNA InfoApril 19, 2014
815 Greenwich Street, Apt. 5D, West Village, Manhattan
1 Bedroom/1 Bath
Approximately 550 square feet
Maintenance: $914 per month
Open House: Saturday, April 19, 2-4 p.m.
Lowdown: The current owners had not planned on selling this West Village one-bedroom until a short-term job move turned out to be more permanent, said John Harrison, of CORE. Saturday is the first official open house.
Even though selling was not planned ahead of time, the owners had already completed some renovation work, including updating the kitchen and staining the floor a nice dark shade. The built-in cabinets on the wall in the living room, made by an architect friend, are staying, but they’re easy to remove, Harrison noted.
There’s also a skylight in the bathroom, which “reminds you that you are in the ‘penthouse apartment,’ if you will," he said of the top floor unit. “You feel like you are in this light and airy apartment.”
The 20-unit co-op allows subletting, but “the building is not looking for investors,” Harrison said.
Location: Though on a “quiet and quaint” block in the West Village, the apartment also is in close proximity to the “glamour and buzz” of the Meatpacking District, with “a lot happening in that portion of the Village,” Harrison said. Nearby subways along 14th Street include the A, C, E and L at Eighth Avenue and the 1, 2, and 3 trains at Seventh Avenue.
Why put it on your open house calendar? This is a “turnkey” home that needs “absolutely no work whatsoever,” Harrison said.
Prospective buyers “looking for the quaint charm of the West Village” yet who also want to be near to “every major activity that somebody could enjoy, should see this place.”
Brokers WeeklyApril 18, 2014
Tom Postilio and Mickey Conlon, stars of HGTV’s Selling New York and leaders in New York real estate with CORE hosted the Bailey House Gala & Auction at Pier 60 at Chelsea Piers on March 27. The Gala honored the heroism of individuals and organizations that help further the Bailey House mission of providing housing and services for people living with HIV/AIDS and advocating on their behalf. Honorees included: Jason Sheftell, a respected real estate correspondent who changed hearts and minds through his moving articles about Bailey House in The Daily News and whose award will be accepted by his mother, Karen Sheftell, in memory of her late son; longtime Bailey House supporter Betsy Lawrence for her commitment to the success of Bailey House’s new Behavioral Health Center; Carver Federal Savings Bank, for helping Bailey House ensure the well-being of the East Harlem community through Bailey House’s nutrition assistance program; and State Senator Brad Hoylman, State Assembly Member Robert Rodriguez and VOCAL-NY for their efforts to pass the 30percent Rent Cap legislation for people living with HIV/AIDS.
Real Estate WeeklyApril 18, 2014
New York Residential Specialist (NYRS) agents and friends gathered at the Atlantic Theater Company's Linda Gross Theater in Manhattan on April 1 to help raise money for charity.
The Wall Street JournalApril 17, 2014
Seasoned home buyers—people who described themselves as owning a "high-end luxury home"—approach the purchasing process much differently than those venturing into the high-end market for the first time, according to an online survey conducted by Realtor.com in March. These experienced high-end buyers focus less on extra space and glitzy home features and more are willing to pay over their budget to get a sound investment.
Generally, seasoned luxury buyers look at the long-term prospects for a property, says Christian Benites, associate real-estate broker with Town Residential in New York.
Still, seasoned buyers and first-time buyers agree on some things. They both cited views and chef kitchens as the most important luxury-home features, according to the survey. Seasoned folks saw luxury pools as third most important, whereas other buyers cited outdoor living areas.
First-time buyers ranked square footage and extra bedrooms, as well as smart home and eco-friendly features, higher than did current luxury homeowners. Of those currently planning to purchase a luxury home, 20% of seasoned buyers marked privacy as a top feature, compared with 13% of first-time buyers.
"They are not looking for golf simulators and children's playrooms and those kinds of amenities—they are looking for what the building has to offer and the reputation of the developer," Emily Beare, a real-estate agent with CORE in New York City, says of seasoned luxury condo buyers. These buyers are more concerned with features like windows and humidification systems that protect high-end furniture and art.
Well-known architects and developers with a reputation for building good quality buildings are appealing for these buyers, says Leslie Wilson, senior vice president of sales at Related Cos.
First-time buyers tend to prioritize finishes and layouts because they want to move in right away without having to gut the property or conduct a lengthy remodel, says Ms. Beare. "It's a totally different mentality from a seasoned buyer. The seasoned buyer is more interested in purchasing a trophy property in the right building at the right address," she says.
Of those planning to purchase a luxury home, 40% of current high-end homeowners said they would be willing to pay over budget, compared with only 29% of nonluxury homeowners, according to the Realtor.com data.
After purchasing a two-bedroom apartment in Brooklyn Heights a few months ago for roughly $2 million, Namek Zu'bi knocked down walls and changed the layout. Mr. Zu'bi, 27 years old and a managing partner at a venture-capital firm, has owned several properties in Jordan and approached the home-search process from an investor's standpoint. He focused on price a square foot instead of the overall price and looked for a neighborhood that would likely generate a 30% to 50% return in the next five years.
The majority of Silicon Valley real-estate agent Mia Simon's clients are young, first-time luxury buyers who have done well in the tech sphere. "They want to be close to a downtown area," says Ms. Simon, of Redfin. "They want to walk to a farmer's market on the weekend or to a restaurant. They place high, high value on that."
HGTV FrontdoorApril 15, 2014
If you haven't heard, it's a good time to be selling a home in New York City — inventory is low and demand is high. Even in a seller's market, though, it helps to arm yourself with a few tips before putting your home up for sale. We consulted two New York City brokers to find out what homeowners need to know before selling in today's market.
1. Homes are going into contract at record speed.
"In today's market in Manhattan, many properties are moving to signed contracts within days or weeks of having come on the market," says CORE agent Tony Sargent. With this in mind, make sure you and your broker are prepared to make decisions at a moment's notice. Also, be prepared to respond to multiple offers. "Expect at least one offer, if not multiple bids, due to the surge in popularity and relatively low supply," Sargent says.
2. Good homes are going especially fast.
The best properties are going fast, so it could be smart to line up some options for the next home you're moving into. "Do you have a plan of where you would like to move to?" Sargent asks. "Although New York City is made up of several different neighborhoods and niche areas, the market is very tight right now, so the best properties are going to sell extremely fast. Knowing where you are going will save you and your broker a lot of time when selling your home."
3. Get to know your competition.
"Low inventory in Manhattan has created a healthy demand of buyers, but be careful not to have an inflated idea of what your home is worth," says Louise Phillips Forbes with Halstead Property. "With access to lots of real estate information online, buyers are very knowledgeable and recognize value when the home is priced properly. It's best to align yourself with an experienced broker who can educate you on the value of your home. I also recommend taking time to go and see other comparable homes in the area that are actively listed so that you see what prospective buyers will be considering in addition to your home."
4. Prime selling season ends in June.
"Be strategic in regards to timing to maximize your return," says Sargent. "The strongest time to sell in New York is usually late January to June. The summer normally experiences a decrease in activity, especially in the high-end market — though the last several years have bucked that trend. Generally, the fall market is the shoulder season. Many first-time buyers and buyers who lost out on multiple bids in the spring get disheartened and leave the market in this kind of intense environment by May or June. By the fall, some start to look again."
5. NYC tax laws and financing options are tricky.
If your home gets a lot of interest from buyers, don't let a tax law or financing snafu catch you off guard — or worse, derail a contract. "Talk to a tax advisor and a real estate attorney before you list your home," advises Sargent. "Tax laws and financing options can be particularly tricky in New York City, especially when dealing with co-ops and condominium properties." For example, real estate taxes may start rising on tax-abatement condos developed between 2003 and 2009. If your condo falls under this description, find out what your unabated taxes will cost. Buyers may want to know.
Voice AmericaApril 14, 2014
Real Estate Development in New York City has grown by leaps and bounds and isn’t stopping. The residential sector which cratered in the immediate aftermath of the financial crash in 2008 has rebounded significantly and is breaking all records. Employment in the city’s construction sector hit a five year high at the end of last year while employment hit 120,900 new jobs, up 4% from 2012. The average price per square foot is also setting new records, the highest in 25 years, $1,363 per foot and many buildings comfortably over $2,000 per foot.
Modern NYCApril 07, 2014
The elevator opens directly to a private, 2,295-square foot, full-floor loft. This large loft features walnut floors, oversized windows with three exposures and custom architectural details throughout. This 2-bedroom plus home office, 2.5-bathroom home has a grand living/dining area, open gourmet kitchen with walk-in pantry, dramatic art galley, spa quality newly renovated bathrooms and central air conditioning. Other features include: custom built-ins, sizeable closet spaces, washer/dryer, and a private 200-square foot storage room.
This architectural gem is located in a well-managed building with a discreet lobby, common roof deck and low monthly maintenance. Pets are welcomed. The co-op allows A.I.R. waivers.
Voice AmericaApril 07, 2014
My featured guest today is Cathy Hobbs, who is a 5-time Emmy award winning television personality and founder and creator of Cathy Hobbs Design Recipes. She was a finalist on Season 6 of HGTV’s Hit Reality Series, “Design Star”. She is currently hosting “Design Recipes” on the PIX Morning News which airs the last Thursday of every month at 8:45am. Panel of (3) top NY brokers.
CurbedApril 03, 2014
Welcome to a new feature, Price Points, in which we pick an asking price and a type of apartment, then scour StreetEasy to find the best newly available options around the city. Today's task: $325,000 for a studio.
This $294,999 apartment in a prewar Murray Hill co-op building is pretty spacious for a studio, with a foyer, windowed separate kitchen, alcove with built-in shelves, and two walk-in closets. It's basically got everything but another room, including a skylight in the bathroom.
New York PostApril 02, 2014
Yorkville | $2.195 million Bedrooms: 3 | Bathrooms: 3 | Square feet: 1,900 | Maintenance: $2,866 You’ll have your own backyard — or about as close as you can get to one — while also enjoying the benefits of a full-service co-op. This “exquisitely renovated,” East 83rd Street corner unit features a 700-square-foot terrace that stretches the entire length of the apartment and offers “garden vistas.” Need more outdoor space — the full-service building features a landscaped roof deck.
Cielo MagazineApril 01, 2014
Location: 241 Fifth Avenue, New York, NY USA
SCENE MagazineApril 01, 2014
Once a barren neighborhood where meat was packed and transported and warehouses were rampant, Chelsea has revitalized itself in the recent decades and has become one of the leading real estate markets in the city.
“The transformation of Chelsea is a good representation of how New York City has changed in the last 10 to 15 years,” notes Tarek Bendida, a salesperson at Citi Habitats. The area gave way for artists to live in expansive loft studios in the 1990s that eventually attracted some of the finest art galleries in the world. The Meatpacking District, a small section wedged between Chelsea and the West Village, became the go-to scene for night clubs and luxury fashion designers.
Recent projects like the High Line—a public park built on historic elevated freight rail lines along the West Side—have added another dimension to Chelsea, garnering international appeal. “Friends of the High Line was founded in 1999, and with an incredible team of architects, engineers and landscape architects, an abandoned, elevated railroad was transformed into one of the most beautiful and interesting parks in the city,” adds Emily Beare of Core. “Soon after this period, the zoning changed from manufacturing to residential, and Chelsea became home to many luxury condominium developments.”
“What’s considered prime Chelsea has shifted westward to meet the High Line. Savvy developers saw the lure of the High Line and planned buildings with spacious residences and high bedroom counts,” says Gordon Hoppe, a senior vice president and the director of sales at Corcoran Sunshine Marketing Group.
“It used to be a a destination for nightclubs, art galleries and flea markets—a gritty city with not many high-rises,” says Eric Benaim, the president and chief executive officer of Modern Spaces. “Now, when you think of Chelsea, words like “cool,” “luxury” and “trendy” come to mind. The flea markets have been replaced by high-rises and the nightclubs by luxury shops.”
High Line for High-rises
“The High Line has been a total game changer for Chelsea!” exclaims Drew Glick, a broker at Brown Harris Stevens. “I’m sure we would have seen some of the development we’ve seen in West Chelsea take place without it but not nearly to the degree of what has and will happen.”
“The High Line has become an instant international landmark,” adds Hoppe. “Some of the world’s most noted architects are designing adjacent properties that reflect the imagination and creativity of the park itself.”
“Thomas Juul-Hansen’s 505 West 19th Street has two towers connected by a lobby built underneath the High Line,” Hoppe continues. “Above, its skylight lets you see the underside of the structure. Residential architecture that is this interactive with the High Line is a first.”
“This relationship with the High Line called for a special and contextual design, which is why the developers brought in Thomas Juul-Hansen, who excels at creating modern spaces that still feel warm,” says Tricia Cole, the executive managing director of Corcoran Sunshine Marketing Group, describing the two 10-story buildings under development by HFZ Capital Group. “Thomas designed the buildings in their entirety, inside and out, and he understands how residents drawn to West Chelsea want to live.
The light-gray limestone brick façade with articulated metal and wood windows is the development’s signature. Not only is the pattern of the windows unique, it also affords the residences amazing light and expansive views of Manhattan, as well as privacy from the High Line.”
The West Tower offers three- to four-bedroom residences with one terraced penthouse, while the East Tower has one- to five-bedroom spaces with two terraced penthouses. Asking prices for the building will start at a little more than $2.3 million and swing upward to approximately $20 million for the penthouse suites, all of which include Juul-Hansen’s designs of walnut entry doors, bronze trim accents in the kitchen and travertine slabs in the master bedrooms.
Nearly two blocks north, Kohn Pedersen Fox, a world-renowned architectural firm, has designed 500 West 21st Street between the General Theological Seminary and the High Line. “Though it’s amidst two of the most striking landmarks in the neighborhood, it still offers an incredible sense of privacy because of its lush, landscaped gardens by Rees Roberts + Partners,” says Hoppe. “You can be in the heart of everything and still feel like you have a private piece of the High Line.”
The Sherwood Equities-owned building has recently started to bring its residences to the market with its one-bedrooms listing for about $2.2 million and a three-bedroom with a private terrace for north of $6.45 million.
A bit down the street, 551 West 21st Street near 12th Avenue is preparing to list its 44 large-scale residences on the market. The building is marketed as 551W21, and prices are expected to start a little below $6 million and climb to $17.5 million.
Related’s 520 West 28th Street is also hitting the market with its 37 units. Pricing has not been disclosed, but John Tenore and Glenn Norrgard of Sotheby’s International Realty note, “Famed architect Zaha Hadid has designed this 11-story, 37-unit luxury residence, evoking a futurist Jetson-like vision.”
Tech in the Neighborhood
Though the High Line has changed the real estate and development landscape of Chelsea, several other sectors have also played a role in Chelsea’s continued renaissance. In recent years, New York under Bloomberg has been pushing to attract technology and Internet companies to the city, and Chelsea has been the first choice for many tech giants.
“Lower Manhattan has recently been referred to as Silicon Alley,” says Susan Singer, a representative from Town’s Flatiron office. “In 2013, New York City surpassed Boston as the second largest tech hub, behind Silicon Valley, paying out almost $30 billion in salaries in 2013 with 262,000 jobs.”
“Chelsea has become a cornerstone with large companies such as Google and IAC,” she added.
“Google bought the old Port Authority building on 15th Street in 2010 for almost $2 billion,” notes Glick, referring to 111 Eighth Avenue, a massive 2.9-million-square-foot building that stretches between Eighth and Ninth Avenues and exceeds Google’s Googleplex in California. “Twitter just signed a big lease on West 17th Street for its New York headquarters, and Spotify and AppNexus are among many other tech companies in Chelsea.”
“Every tech firm wants to be in Chelsea, as well as bio-med, media and creative companies,” adds Hoppe. “Google has been a beacon for other forward-thinking industries, radically transforming a neighborhood that was known only for its gallery scene.”
BrownstonerMarch 31, 2014
This two-bedroom, two-bath duplex condo for rent in Bed-Stuy is spacious and recently renovated but also ambitiously priced. From floors to doors, the finishes and the kitchens and baths look nice.
The 1,576-square-foot apartment also comes with a large private backyard that includes a deck and landscaped garden. There’s central heat and air conditioning and a washer/dryer on the lower level. But at this price, we would hope for at least one more bedroom on the lower floor. Do you think it will rent for $3,450 a month?
New York Social DiaryMarch 31, 2014
Also last Thursday night, Bailey House held its Annual Gala and Auction, commemorating 31 years of providing cutting edge programs addressing homelessness and poverty among New York City’s most vulnerable citizens affected by HIV/AIDS and other chronic illnesses.
Each year up to 800 philanthropists representing the arenas of fashion, entertainment, art and design, media and business come together to give back to Bailey House and amplify our efforts to transform the lives and opportunities of low-income New Yorkers.
At the Gala dinner, they honored the heroism of the individuals and organizations who help further Bailey House’s mission. Their storied auction follows the gala and remains one of the hottest parties in town.
Guests of Honor were Carver Federal Savings Bank (accepted by Michael T. Pugh, President and CEO) with the Rand Harlan Skolnick Corporate Social Responsibility Award; Betsy Lawrence who received the 2014 Arts and Legacy Award; Jason Sheftell (in memoriam) with the 2014 Real Estate Award, and State Senator Brad Hoylman, State Assembly Member Robert Rodriguez, and VOCAL-NY, with the 2014 Rodger McFarlane AIDS Warrior Award.
Hosts for the evening were Tom Postilio and Mickey Conlon stars of HGTV’s Selling New York. Gala and Auction co-chairs were John Douglas Eason and Dan Scheffey. Art Committee co-chairs were Laura Krey and Elizabeth Sadoff, and the auctioneer was Toby Unik of Christie’s.
Voice AmericaMarch 31, 2014
We are going to discuss the process of buying a co-op or condo in Manhattan. This process can be difficult but we will tell you how to get the job done. Choosing the right agent, the right apartment and the right building.
New York Daily NewsMarch 28, 2014
It was a night of honor for late Daily News real estate writer Jason Sheftell.
Sheftell, who died last year at age 46, was remembered Thursday at a gala for the Bailey House.
“Jason was someone who celebrated New York and who loved life — and we miss him,” said Mickey Conlon, star of HGTV’s hit “Selling New York” and host of the fund-raiser.
Sheftell’s mother, Karen, accepted the 2014 Real Estate Award in his honor. “He had enthusiasm, he had heart,” she said.
A lifelong New Yorker, Sheftell had covered the charity, which helps homeless people with AIDS, for The News and was considering joining its board before his death, said chief development officer Eric Douglas.
The New York TimesMarch 28, 2014
March 27: Bailey House held its annual gala at Pier 60 at Chelsea Piers. The organization provides housing, health care resources and support to people living with H.I.V./ AIDS.
Leverage Global PartnersMarch 26, 2014
In the world of high-end residential real estate, action is the name of the game. Maggie Kent, broker at CORE in New York City and star of Selling New York, is an agent who truly gets it.
New York PostMarch 26, 2014
Upper West Side | $3.3 million
Why settle for the home of your dreams when you can have two? Here’s a “rare opportunity” to combine two 10th-floor corner condo units for a total of approximately 2,000 square feet and capacity for three or four bedrooms. You’ll get 9-foot ceilings, floor-to-ceiling windows and open kitchens, plus all of 10 West End Ave.’s amenities, including a fitness center with a 50-foot swimming pool and on-site parking. Agents: Jarrod Guy Randolph and Chris Dominiak, Core, 212-726-0757 and 212-612-9627