On the Market in New York City

The New York TimesFebruary 21, 2014
Greenwich Village Loft
MANHATTAN | 200 Mercer Street, #4E

A two-bedroom one-bath loft with a wood-burning fireplace and a washer/dryer in a prewar elevator building with video surveillance. Patrick Mills, CORE (917)657-5607;

MAINTENANCE $2,333 a month.

PROS: Four east-facing windows bring light to the living/dining and kitchen area. Classic loft details include exposed brick and high ceilings.

CONS: The bathroom lacks a tub and needs an overhaul. A partial wall blocks windows in one bedroom; the other bedroom is an interior room.

131 West 24th Street, 5/6: Modernnyc.weekly Featured Listing

Modern NYCFebruary 21, 2014
Magnificent 4,200 square foot duplex loft now available in Chelsea. The home's flexible layout is currently configured with five bedrooms and three full bathrooms. The central living room boasts a dramatic 18'9" ceiling height and opens to several multi use areas, including a library, family room, dining room and kitchen. The use of exposed and painted brick, metal support beams, wood flooring and glass panels creates a warm, modernist space. A keyed elevator provides private access to both floors. The industrial kitchen is massive and unpretentious, flooded with natural light. The master suite has an exercise room, walk in closet and a charming, zen like bathroom equipped with a Jacuzzi tub. Additional features include a double height projection screen, excellent storage options, washer/dryer, and zoned air conditioning and heating. The financials on the building are excellent, with a very large reserve fund for a small building and low monthly maintenance of $1,300 per month. A live/work setup with very minimal traffic is allowed, as are pets.

Priciest, Cheapest Listings to Hit the Manhattan Market This Week

The Real DealFebruary 21, 2014
Brown Harris Stevens’ Avideh Ghaffari had the priciest single-family residential listing to hit the Manhattan market this week with a $49.95 million townhouse at 29 Beekman Place in Midtown. The sprawling 11,500-square-foot, eight-bedroom pad, previously home to CBS founder William Paley, boasts eight wood-burning fireplaces, four powder rooms, two back terraces and a spiral staircases. Also tricked out with an elevator to all floors, the home, originally constructed in 1910, was completely renovated in 1996, according to the listing.

Second on the pricey end this week is a $25 million condominium at 845 United Nations Plaza. The four-bedroom residence in the Trump World Tower boasts views of the Queensboro Bridge, a private master suite with his-and-her baths and walk-in closets, a triple soundproof home theater decked out in leather and Maccasar ebony wood and capped off by a Wisdom Audio Sage Series sound system. The Core Group’s Jarrod Guy Randolph has the listing.

Tied for second place this week is a townhouse at 421 East 6th Street in the East Village, also asking $25 million. The 16,402 square feet property, most recently home to the late sculptor Water de Maria, was constructed in 1920 as a Con Edison substation and maintains original interior fixtures from that time. Features include slab-to-slab ceiling heights ranging from 14 feet to 32 feet, multistory warehouse windows, an old-fashioned through-floor pulley system and exposed brick. One of the tallest buildings in the area, according to the listing, the home also boasts views of the city skyline. Cushman & Wakefield’s John LiGreci has the listing.

Coming in third on the pricey end this week is a $19.75 million co-op at 239 Central Park West on the Upper West Side. Spanning 5,135-square-feet, this six-bedroom duplex boasts a formal dining room with a wood burning fireplace, eat-in chef’s kitchen, media room, library and two extra-large powder rooms. The en suite bedrooms are located on the top floor, and the master suite is touched off with a master bath, wood-burning fireplace and views of the park. Raphael De Niro of Douglas Elliman has the listing.

We head further uptown for the week’s cheapest listing: a $195,000 two-room studio co-op at 80 LaSalle Street in Morningside Heights. Located on the 16th floor of a 21-story building, the property features a separate windowed kitchen, full bath and shower with a tiled floor and closets leading from the hallway entrance. Building amenities include an elevator, landscaped gardens, fitness center, playrooms and child day care, laundry room, parking garage and 24-hour security. Halstead Property’s Mark Lewis has the listing.

The second-cheapest unit of the week is a $210,000 one-bedroom co-op at 689 Fort Washington Avenue in Hudson Heights. Recently upgraded, the unit features a renovated kitchen and bath, while building amenities include central laundry off the lobby and bicycle storage. The Corcoran Group’s Jessica McCann has the listing.

The week’s third-cheapest listing is also located in Hudson Heights at 340 Haven Avenue. Asking $214,900, this pre-war one-bedroom studio co-op is outfitted with hardwood floors, new appliances and high ceilings. Building amenities include bike storage, a parking lot, live-in super and two large courtyards. Douglas Elliman’s Katherine Shindle and Jeffrey Dyksterhouse have the listing.

Trump World Tower Combo Asks $25M After 3-Year Makeover

CurbedFebruary 17, 2014
The owner of this 3,600-square-foot combination in the Trump World Tower describes himself as a "detail fanatic" (probably for the best, as he is a facial plastic surgeon), so when the brokerbabble says the design is the product of a "meticulous renovation," it's no exaggeration. The Times details the three-year makeover, which combined two units to make a 95-foot long home that runs the length of the building. Features include a library with Macassar ebony wood built-in shelves, white crocodile-skin cabinets in the master bathroom, a soundproof home theater with leather chairs by Bentley Motors, and an entryway clad in "custom African ziricote wood panels." The Steinway piano and rare-edition Harley Davidson seen in the photos, plus all of the artwork and furnishings, are also available for purchase if a buyer happens to be interested. Sans accoutrements, the place is asking $25M.

Trump World Condo Asks $25M Following Renovation

The Real DealFebruary 15, 2014
A combination unit in the Trump World Tower at First Avenue and 47th Street has hit the market asking $25 million.

The 32nd-floor unit recently underwent a multimillion-dollar renovation that, over a period of three years, transformed the property from a bachelor pad into a sleek modern home with East River views.

“I don’t like cold modern,” the seller, Dr. Sam Rizk, a facial plastic surgeon, told the New York Times. “I wanted it to be contemporary and warm, and for that you need lots of wood and warm colors.”

The four-bedroom, 3,600-square-foot condo features a home-technology system, a theatre and a 95-foot entertaining space.

Jarrod Guy Randolph of the CORE Group has the listing.

Fancy Face-Lift

The New York TimesFebruary 14, 2014
A combination unit at 845 United Nations Plaza that underwent a multimillion-dollar three-year renovation to transform a modern bachelor pad on the 32nd floor into a contemporary showplace with a 95-foot west/east wingspan, dynamic East River views, and an assortment of futuristic home-technology systems is about to enter the market at $25 million.

The four-bedroom four-and-a-half-bath condominium, No. 32A, in the sylphlike black-and-gold glass Trump World Tower at First Avenue and 47th Street, just north of the United Nations campus, has monthly carrying costs of $8,150. From the living area, the home theater and the secluded master suite, there are unimpeded views of the 1936 Pepsi-Cola billboard on the eastern bank of the river as well as views north to the Queensboro Bridge and west to the Chrysler Building.

On either side of the 95-foot-expanse that constitutes and connects the main entertaining spaces, the nearly 3,600-square-foot apartment has two wings — one for the master suite, to the southeast, the other for two bedrooms and an auxiliary catering kitchen, to the north. On the western end, the library, with Macassar ebony wood built-ins, has an eight-foot-tall window that captures western views and connects to the family room, which has a built-in desk and is dominated by a Steinway grand piano. The 20-by-16-foot living room has picture windows overlooking the East River, a built-in ebony bar, and a hidden television also framed in ebony. The room opens onto a dining area with north and east exposures, and as befits a home with Warhols and Picassos on the walls, the windows have an art-protective ultraviolet tint.

The elaborate face-lift was dreamed up by the seller, Dr. Sam S. Rizk, a facial plastic surgeon and self-described “detail fanatic” who moved into No. 32A in 2002 and five years ago added No. 32E when he learned that an east/west open reconfiguration was possible. “We were able to tear out a bathroom and break through the walls and create something that runs the depth of the building,” he said. Many of the design elements, like the white crocodile-skin cabinetry framed with metal in the master bath and walk-in closet, owe their existence to the unconscious imaginings of Dr. Rizk. “I would see it in a dream and wake up and write it all down,” he said.

The overarching theme of the renovation, which was preceded in 2011 by the eight-month installation of a white 17-by-12-foot Poggenpohl kitchen with Caesarstone counters and floor, was also Dr. Rizk’s idea. He wanted a modern aesthetic, but not an austere version of modernity.

“I don’t like cold modern,” he said. “I wanted it to be contemporary and warm, and for that you need lots of wood and warm colors.” The floors are oak plank, and the 20-by-7-foot entrance gallery is sheathed in custom African ziricote wood panels fabricated by NY Loft. The custom milk-glass-and-Macassar-ebony pocket doors used as discreet room dividers throughout the home were created in Italy, and the leather chairs in the leather-wrapped, triple-soundproofed home theater were made by Bentley Motors, the luxury automobile purveyor.

Dr. Rizk, along with his wife, Carolina, a former model who assisted on the apartment’s redesign, and their 8-month-old son, will most likely move farther uptown to be closer to his office at 1040 Park Avenue. Their next move, he said, will probably not involve another major renovation. “This one was grueling; I mean, we had to move out for two years.” The artwork and furnishings, including the Steinway and a rare-edition silver Harley-Davidson that stands guard in the master bedroom like a sculpture (albeit one that can be driven though it never has been), are available should the buyer be interested.

Another lavishly appointed former bachelor pad at Trump World Tower, this one on the 70th floor near the apex of the building, and with Ultrasuede walls and a billiards/game room, sold for $15.5 million in 2012; Derek Jeter, the Yankees captain (who just this week announced his retirement), was the seller.

The listing broker of No. 32A, Jarrod Guy Randolph of the CORE Group, said the unit had been so thoroughly and expensively renovated that, besides being in turnkey condition, “it is like buying a new-construction product.” The level of the finishes, the attention to detail, and the pristine condition of the mechanical systems and appliances make it “an anomaly in the building,” he said. “It compares favorably to One57, 432 Park Avenue and One Beacon Court, and for a buyer to be able to find something of that level of quality in this neighborhood is very rare.”

And expensive, but Dr. Rizk envisions a billionaire buyer who covets the building’s Trumpian amenities and proximity to the United Nations. “I can see a buyer from Russia or the Middle East taking one look at this and loving it,” he said. “I know I’ve loved everything about it.”

5 Cheapest Manhattan Sales of the Week

The Real DealFebruary 10, 2014
The Townsley, a co-op building at 245 East 35th Street in Murray Hill located near the mouth of the Queens-Midtown Tunnel, was the site of the fifth cheapest home sale in Manhattan this week — an alcove studio on the eighth floor for $355,000. That was about 5 percent under the listed price for the studio. The apartment was originally listed for nearly $400,000, despite having last sold in 2005 for more than $415,000. Emily Beare and Steve Snider for brokerage CORE had the sale.

Walker Tower Sees First Flip for Near $3 Million Profit

CurbedFebruary 09, 2014
Back in December, we expressed some reservations about a Walker Tower flip that went on the market seven days after seller Burt Freiman bought the place, especially when we learned that he was asking nearly $2.9 million more than the $5,027,609 that he paid for the apartment a week earlier. Naturally, the 2,179-square-foot 2BR/2.5BA unit "with soaring ceilings, top-of-the-line finishes and amenities, Empire State Building views, and a handy home office" just sold on Thursday for a very respectable/insane $7.775 million.

The apartment (which he had never even set foot in) was on the market for a mere three weeks before going into contract in early January, the buyers having expressed interest before broker Reba Miller of CORE even had a chance to stage it. Freiman—a retired businessman who has apparently decided to spend his golden years buying expensive apartments and reselling them to chumps—previously bought a 15 Central Park West sponsor unit for $4.9 million and flipped it for $7.6 million.

Walker Tower Unit Flips for $2.9M Profit

The Real DealFebruary 09, 2014
Walker Tower just got its first successful flip, and at $2.9 million, the profit wasn’t bad.

In December, seller Burt Freiman purchased a unit in Walker Tower for just over $5 million. Within a week the 2,179-square-foot, two-bedroom, two-bathroom unit was back on the market. Now the unit has sold for $7.775 million, according to Curbed.

The apartment, which Freiman had never even set foot in, was on the market for a mere three weeks. In fact, the unit went into contract in early January, with the buyers approaching broker Reba Miller of CORE.

According to Curbed, Freiman, a retired businessman, previously purchased a sponsor unit in 15 Central Park West for $4.9 million that he later sold for $7.6 million.

Brooklyn Bridge Park Designed to Draw Locals and Visitors to a Grand View

The Epoch TimesFebruary 07, 2014
NEW YORK—Green space and waterfront views are two highly coveted amenities in the city. Capitalizing on its desirable waterfront location, Brooklyn Bridge Park has become a world-class attraction, drawing tourists and locals alike. The park is also a magnet for new residents and economic development.

Brooklyn Bridge Park enjoys 1.3 miles of waterfront on Brooklyn’s west side adjacent to the Brooklyn Heights and DUMBO neighborhoods. The park recently won an award for its planning and design. The American Planning Association will award the park its 2014 National Planning Excellence Award for Urban Design at its annual meeting in April.

During snowy winter mornings, joggers make full use of the park. “There’s a huge running community [here],” said Alison O’Donnell, a student at Kings College and regular jogger in the park.

On days when the weather is nice, the park can be quite crowded in the early morning. Even when the thermometer drops to 10 degrees Fahrenheit, joggers pass through the park’s many trails every minute.
A block away, hordes of young children are being walked to school by their parents.

On warmer days, O’Donnell said, the park is filled with families, picnickers, wedding parties posing for photographs, and couples watching the sunset.

Currently, 38 acres have been developed from Atlantic Avenue to Jay Street just north of the Manhattan Bridge.

The park was designed by Michael Van Valkenburgh Associates, the same firm that landscaped the Toll Brothers’ Pierhouse development at the park.

A few years back, the waterfront was not only inaccessible but considered a “wasteland, a dumping ground,” said park CEO Regina Myer.

Now the park attracts a good 60,000 visitors on a nice weekend and up to 100,000 on summer weekends when events are in full swing. About a third are nearby residents, a third are New Yorkers, and another third are tourists, Myer said.

The design is different from other earlier waterfront parks, Myer added. Rather than a formal edge bridging off the water, the landscape architects created an organic edging.

“You can actually touch the water in a lot of parts of the shoreline,” Myer said.

From the very beginning, an emphasis on the views was deemed crucial.

“Those views become a part of the park and a part of the park experience,” Myer said. “So when people come down to the water’s edge they feel like they’re virtually touching the Statue of Liberty.”

Sweeping views of the East River, the Lower Manhattan skyline, and Brooklyn Bridge are big reasons the park is able to fund its maintenance and operations.

Funded by Housing

Brooklyn Bridge Park is a public-private partnership where residential developments will contribute $16 million to the park’s budget annually. This covers all park maintenance fees—a condition the city and state required to commit $315 million for construction.

In terms of construction, the park still needs $27.5 million.

The Pierhouse condos and a hotel developed by Starwood Capital Group at the end of Pier 1 are expected to generate $3.2 million annually. One Brooklyn Bridge Park, a condo-conversion project nearby, already generates $2 million annually.

“It’s become a world-class attraction,” said Doug Bowen, CORE real estate agent specializing in Brooklyn properties and representing One Brooklyn Bridge Park.

Bowen said the park has definitely added value to the adjacent neighborhoods and is an attraction for home buyers to choose DUMBO and Brooklyn Heights.

Pierhouse, which recently launched its sales gallery, is only the first of the new developments in the park, Bowen added, and in regard to rising property values, “people will still be talking about it ten years from now.”

By creating a place where people want to be, it’s helped nearby neighborhoods grow the local economy.
“Brooklyn Bridge Park is the best thing to happen to DUMBO since cobblestone,” said Alexandria Sica, executive director of the DUMBO Business Improvement District, or DUMBO BID. DUMBO BID represents property owners, merchants, businesses, and cultural organizations, according to its website.

The award-winning design and views of the park has inspired the creative businesses, Sica said. The park’s become a major draw for visitors as well, bringing tourist dollars to the local economy.

“It’s also been a huge draw for families, helping create a community of young Brooklynites who will grow up on the shore of the East River,” Sica said.

First Resale in Walker Tower Flipped for Near $3 Million Profit

The New York TimesFebruary 07, 2014
The renaissance of Walker Tower, the 24-story Art Deco office building at 212 West 18th Street that put Chelsea on the skyscraper map after Ralph Thomas Walker designed it for the New York Telephone Company in 1929, has been emphatic.

Its 2012 conversion to 47 luxury-laden condos produced a record-breaking downtown sale — PH1, after asking $55 million, recently sold for $50.912 million — and inspired such a surge of wealthy buyers that only one unit, PH2 for $47.5 million, is still available. And now the tower’s first resale, a two-bedroom unit on the 11th floor, has generated a near $3 million profit for an owner/investor who, by the way, never actually set foot in the building.

One tenet of being a serial apartment flipper like Burt Freiman, the retired businessman and real estate speculator who cannily bought and sold No. 11E, is never to get too attached to one’s trophy acquisitions. Before Walker Tower, he bought and flipped at 15 Central Park West, setting himself a positive precedent by buying a sponsor unit for $4.9 million and reselling it for $7.6 million, according to his longtime broker and real estate adviser, Reba Miller of CORE.

Part of the initial wave of buyers at Walker Tower, Mr. Freiman went to contract in June 2012 on No. 11E, a two-bedroom two-and-a-half-bath 2,183-square-foot apartment with soaring ceilings, top-of-the-line finishes and amenities, Empire State Building views, and a handy home office. The asking price for the sponsor unit was $5.2 million, and he paid $5,027,609 when the deal finally closed on Dec. 4, 2013.
Then, two weeks later, just as planned, he relisted the apartment for an ambitious $7.9 million through Ms. Miller. Had the apartment not sold within a reasonable time-frame, she said, the backup plan was to rent it out.

But Mr. Freiman’s condo quickly found a serious suitor despite its being vacant and bereft of furniture, and this week it closed yet again, this time for $7.775 million. Bahar Tavakolian of Stribling & Associates brought the buyers, who actually do intend to move in and live there while their 2014 market-rate investment presumably appreciates further. The monthly carrying costs for the unit, which is one floor below a three-bedroom apartment bought as an investment by the actress Cameron Diaz, are $3,809.

“The buyers paid more for the apartment than my client did,” Ms. Miller said, “but I don’t feel that they paid up; they paid what the market will bear today.” She had intended to install staging furniture in No. 11E during the Christmas holidays, traditionally a non-optimal time to put a property on the market, but before she could do so, Ms. Tavakolian contacted her with the news that she had an eager buyer who specifically wanted a unit at Walker Tower. Fortuitously, Mr. Freiman’s was the only one available except for the penthouse, and it was about $40 million less expensive.

The co-developers of Walker Tower, JDS Development Group and Property Markets Group, said the stunning profit realized on the first resale was further proof of the building’s architectural pedigree and escalating popularity among elite buyers. “It makes us happy because it burnishes the brand,” said Michael Stern of JDS Development Group.

“It vindicates our vision of the quality of the conversion and the continued importance of the role played by Walker Tower on the city skyline,” added Elliott Joseph of Property Markets Group. “The seller made a great investment, and the people moving in are making a great investment. The residences on the lower floors actually have the highest ceilings, and since the residences start on the eighth floor in a low-rise neighborhood, there isn’t an apartment in the place that doesn’t have great, penthouse-type unimpeded views.” (The building’s first seven floors are occupied by Verizon.)

As for the one remaining unit, PH2, Mr. Joseph predicted a speedy sale: “It’s an awesome product,” he said.

A Chelsea Duplex Becomes a Family Affair

The Wall Street JournalFebruary 06, 2014
Asher Remy-Toledo and Marc Routh purchased a duplex apartment at 131 West 24th Street, pictured at center, in 2002, according to records provided by the couple. Mr. Routh said the apartment cost slightly over $1.2 million. The space was formerly a dance studio, the couple said, and they started renovations with a deadline. The home had to be ready in time for the birth of their twin sons.

The seven story co-op building has only six units. Messrs. Routh and Remy-Toledo's apartment on the fifth and six floors has private access via a keyed elevator on both floors and a living room with almost 19-foot ceilings, created for the dance studio. The couple were previously living in Midtown Manhattan near the theater district but purchased the home for their growing family. 'We were creating a family, a life together. [The apartment] was an opportunity to do that,' Mr. Routh said.

The relatively raw space was 'appealing as a canvas to work on,' Mr. Routh said. The renovation involved building three bathrooms and four bedrooms and converting an existing studio apartment within the space into a master bedroom suite with gym and walk-in closet. Mr. Routh said the renovation cost in the 'high six figures.' A storage space off the kitchen has plumbing available to be converted in a fourth bathroom, Mr. Remy-Toledo said.

Some of the décor and furnishings in the apartment reflect the couple's respective careers. Mr. Routh, 50, is a theater producer who has worked on Broadway shows locally and abroad, in addition to bringing international productions to the U.S. He is also the co-owner of 54 Below, a 150-seat music entertainment venue in Midtown. A chaise, pictured here, is from a 2002 production of 'My Old Lady.'

A sarcophagus from 1998's 'The Mystery of Irma Vep' currently serves as a toy closet. Mr. Remy-Toledo, also 50, is an art advisor and curator, currently working on projects related to Art Miami and on establishing an art fair in San Francisco. He is also the co-founder of Hyphen-Hub, an arts and technology non-profit. When he is not travelling, he often hosts meetings and events in the apartment. 'This space is a hub for all these artistic people,' Mr. Remy-Toledo said. 'It's very useful,' he said.

The dining area, pictured, extends into the full chef's kitchen. Mr. Routh said that they have seen their neighborhood change substantially over the last 12 years. 'When we moved in, there were a lot of empty lots,' some of which hosted antique markets on the weekends, Mr. Routh said. 'Now huge buildings are on those properties,' he said.

Mr. Routh said the couple did not make substantial changes to the 'industrial' kitchen in their renovation because they don't spend much time cooking. The renovation took almost eight months. 'At the time it seemed like forever, but we had a real hard deadline,' Mr. Routh said. Their sons were born six weeks early and the couple had to spend a week in a hotel when they brought them home from the hospital, as the apartment floors were being finished. 'It was up to the last minute,' Mr. Routh said.

The couple have been together for 15 years and were married last year. The approximately 4,400 square foot apartment has three bathrooms and five bedrooms. The master bedroom is shown.

The master bathroom was designed by Mr. Remy-Toledo to 'look like a spa,' in homage to the couple's love of taking spa vacations before their children arrived. The space, with shower and separate bathtub, is done with slate stone tiles. 'I wanted that zen feeling,' of a spa, Mr. Remy Toledo said. 'It's not pretentious at all, it's all very down to earth,' he said.

The bathtub, decorated with glass mosaic, is shown. Mr. Remy Toledo said he also tried to create a calm, peaceful 'zen-like' atmosphere in the rest of the home, using minimal decor and thick city windows to block sound from the street.

A second bedroom is shown. 'We're not into showy, pretentious stuff,' Mr. Remy-Toledo said. 'It's more that [the space] feels grounded. You're home.' Contemplating a possible move to Brooklyn, the family spent a few weeks last summer in rental apartments across the borough. They are selling because they've officially decided to move, although Mr. Remy-Toledo said they haven't found a neighborhood that matches Chelsea in its convenience. 'Here, everything is so immediate,' he said. The home is close to several subway lines as well as Fairway Market and Trader Joe's.

An upstairs living space and library is shown. The apartment was briefly listed by the owners in March 2013 for slightly under $4.5 million. It was relisted towards the end of December last year for its current listing price of $5 million. Patrick Lilly and Adie Kriegstein of CORE hold the listing.

Houses of the Week: 200 Mercer Street, 4E

New York PostFebruary 05, 2014
Greenwich Village | $2.45 million

Bedrooms: 2 | Bathrooms: 1
Square feet: 2,350 | Maintenance: $2,333

Space is rare in Manhattan, and rarer is the chance to take a “sprawling” loft space, like this one in a co-op on Mercer Street overlooking Broadway, and do with it as you see fit. Already in place is a newly renovated, eat-in kitchen, plenty of exposed brick, hardwood flooring and a woodburning fireplace in the master bedroom. Agent: Patrick Mills, CORE, 917-657-5607

Living Large: 23 Downing

CBSFebruary 04, 2014

David Beare takes “Living Large” host Emily Smith on a tour of this Greenwich Village townhouse.

NY Real Estate: 419 East 57th Street, PHAB

Modern NYCFebruary 01, 2014
Be the first to live in this spectacular, one-of-a-kind penthouse, complete with an expansive 1,900-square-foot terrace. Meticulously renovated, this sun-filled, 5.5-room home, perfect as a full-time residence or pied-a-terre, offers exceptional ceiling heights, three working fireplaces, detailed plaster moldings and panoramic city views. Just beyond the dramatic entrance gallery, the home's living room offers open southern exposure, dramatic entertaining space and a wood-burning fireplace. The master bedroom features two French door entrances to the terrace and a walk-in closet. The bedroom's luxurious, en suite marble bathroom has a soaking tub with window views, stall shower, double sinks, heated floors and abundant storage. The second bedroom suite has a statuary marble bathroom with Waterworks fixtures. The spacious eat-in kitchen, outfitted with St. Charles custom cabinetry, features top-of-the-line appliances, marble countertops and backsplashes, and a generous walk-in pantry. A five-zone central air conditioning system, outdoor storage area and river-to-river views from the oversized terrace complete the home. No board approval required.

NY Real Estate: 241 Fifth, PH20

Modern NYCFebruary 01, 2014
Live in the center of NoMad, Manhattan's hottest new neighborhood, which boasts a bustling restaurant and hotel scene set against the lush, green landscape of Madison Square Park. Merging the best of old and new, the classic New York-style of this area includes Beaux-Arts architecture and iconic cast-iron buildings. 241 Fifth stands out as a new boutique residence designed with modern simplicity.

Penthouse 20 is a full-floor, 3-bedroom, 3.5-bathroom residence offering 3,080-square feet of interior space and stairway access to a private 958-square foot rooftop terrace boasting a full kitchen, hot tub, and views of the Flatiron district. The modern design influence features an open flow living room and a neutral palette that can be seen through the use of stained white oak flooring and white-finished fixtures from the Zuchetti-Kos Faraway Collection. The master bathroom is designed with a deep soaking tub, glass-enclosed shower, solid teak wall detailing and honed stone tile floor. Additionally, this residence offers entrance through a key locked elevator, a Miele washer and dryer and oversized windows throughout.

241 Fifth's lobby boasts wire-brushed, white oak walls and a polished concrete floor, conveying the modern simplicity of this boutique condominium. In addition to a 24/7 concierge, 241 Fifth's amenities include a rooftop terrace, a fitness center equipped with state-of-the-art cardio and weightlifting equipment, a Zen tranquility room for yoga, Pilates or meditation, a residence lounge and private wellness treatment room, which offers a serene space for massage or beauty treatments.

These photos may represent the unit or similar units in the building.

Manhattan's Top Agents

The Real DealFebruary 01, 2014
In the battle for broker supremacy, John Burger of Brown Harris Stevens held on to the top spot again this past year after finishing at the top in 2012. The white-glove broker had more than $410 million in listing at the time of the survey in mid-2013. Serena Boeardman of Sotheby's, meanwhile, jumped to the second place spot from the number five slot in the ranking the prior year. And Deborah Grubman on the Corcoran Group finished third, a big leap from 11th place the previous year.

Top Mid-Size Brokerages

The Real DealFebruary 01, 2014

Call them the in-betweeners. They're too small to be gigantic firms and too large to be boutiques. They're New York City's mid-size residential firms. And in 2013, for the first time, The Real Deal compiled a list ranking these firms by dollar volume of listings (in addition to looking at brokerage behemoths and boutiques as in years past). CORE finished first, followed by Warburg Realty.

Top Residential Brokerage Firms by Closed Manhattan Deals

The Real DealFebruary 01, 2014
In addition to ranking Manhattan's biggest brokerage firms by listings (see charts on adjacent pages) as it had done in years past, The Real Deal ran its first-ever ranking of Manhattan firms by closed deals (encompassing only sales above $1 million) in its May 2013 issue. The ability to rank firms based on closed sales rather than on a snapshot of listings was the result of improved data-gathering methods as well as better transparency in the industry. Data was provided by the website StreetEasy with additional research by The Real Deal.

Top Rental Deals of the Year

The Real DealFebruary 01, 2014
Deals at the very tippy top of the rental market got even pricier in 2013. There were 13 rental deals in Manhattan that got signed for $100,000 a month or more during the course of the year, up from just one such deal last year. The Towers of the Waldorf-Astoria and the Pierre saw three of the top deals each, the most of any building, and 15 Central Park West saw two deals that made the list.

NYRS Begins 2014 With new Executive Members Martin, Sargent, and Caponergo

NYREJFebruary 01, 2014
New York Residential Specialists (NYRS), the REBNY-certified program that recognizes top New York City residential real estate agents with the highest professional credential, is pleased to begin 2014 with new sponsors and executive committee members. The announcement comes following two sold-out semesters in 2013, bringing the number of NYRS graduates to 296.

New executive committee members include: Trish Martin, executive director of sales for Halstead Property's Brooklyn division; Tony Sargent, associate broker with CORE; and Tom Caponegro, associate broker with Brown Harris Stevens. They join the now 14-member committee.

Rent Forecast

SCENE MagazineFebruary 01, 2014
There’s snow in the forecast, and not a single day in the next month is expected to reach 32 degrees or higher, so when’s a better time to move? As brutal as New York’s winter is, the real estate market depresses its prices during the cold months. “The New York City residential rental market is seasonal, with the highest rents of the year coming every August and the lowest every February,” said Jeffrey Schleider, managing director of Miron Properties. “Renters in the market now can expect the best deals of the year with many landlords offering to cover the brokers fee and/or give a free month's rent.” Landlords do not need to be the ones to offer, either. Prospective renters have just as much of a right to bring their own terms to the negotiation table.

Lucrative Super Bowl Listings Tempt Brokers — Despite Risks

The Real DealJanuary 31, 2014
The number of short-term rental listings – and their prices – have skyrocketed ahead of Super Bowl XLVIII, and not even New York City real estate brokers are immune to the siren call of potential cash.

Airbnb, arguably the most popular site for short-term rental wheeling and dealing these days, still has more than a 1,000 listings available for this weekend only two days before the big game. The site has seen a 46 percent week-over-week increase in bookings on listings near MetLife Stadium in New Jersey, a spokesman for the company told The Real Deal. Bookings in the surrounding area – including the five boroughs – are expected to double from their volume at the same time last year.

The boom has prompted users to dramatically lift their rates, much as the city’s hotels commonly do during especially busy periods. Some hosts are charging as much as $1,000 per night for their pads over the weekend and are pointedly courting gridiron junkies.

“Perfect party space for Super Bowl weekend,” reads one StuyTown offering asking $6,500 for six nights. Even famous faces are getting in on the action, with Kevin Jonas, eldest of the eponymous brothers, renting out his Denville, New Jersey home (near the game site in East Rutherford) for $20,000 per night. The five-figure tab does include tickets to the game, at least.

Brokers are tempted by the potential windfall as much as anyone else. Several told The Real Deal that they have been approached by past or long-term clients seeking help marketing their property as a Super Bowl outpost.

“I had a client ask me to deal with her Staten Island lease for the weekend for $20,000,” said Jonathan Tager, managing director of MNS Real Estate. He didn’t wind up taking her up on the offer, he said, but was intrigued enough by the possibilities to list his own Brooklyn apartment for $6,500 per night after the inquiry. (As of press time he hadn’t snagged any takers.)

He isn’t the only one. Morgan Graham, a broker with Miron Properties, said that the Super Bowl isn’t on his radar but that he “sure as H-E-double hockey sticks” would rent via Airbnb if he had the space. “I live in Hell’s Kitchen and this neighborhood is very Airbnb-friendly. During the summer I meet several random Europeans in my building who are staying for the week [because of the] convenience of Midtown.”

Though it’s quicker and cheaper to list an offering themselves on a site like Airbnb, Roomorama or HomeAway, going through a broker may ease worries of party destruction over a beer and buffalo wing-filled weekend. The peace of mind, some brokers said, is what often makes a broker’s involvement, and commission, worth it.

“The reason I think they would use a broker is because they want the tenant vetted,” said Emily Beare, a broker with the CORE Group. “Most people do post it themselves, but I think that is the reason.”

The rush to cash in on the weekend’s potentially pricey rentals flies in the face of New York City’s 2010 illegal hotel law, which bars residential apartment rentals for fewer than 30 days. New York Attorney General Eric Schneiderman is currently on the march against Airbnb to this end, having subpoenaed data on the site’s 15,000 hosts in October. Most brokerages and individual agents are aware of the risks, and quite a few told The Real Deal that they are steering clear of short-term Super Bowl listings to avoid any potential legal fallout.

Others, however, appeared unfazed by the potential dangers.

“I would totally do it regardless of the risks,” Graham said. “And landlords seem to be okay with it because their rent is still getting paid, if not being paid quicker and in full.”

Record $1.98 Million Sale in Windsor Terrace

BrownstonerJanuary 29, 2014
A house at 107 Terrace Place set a record when it sold for $1,980,000 this month, according to The New York Daily News. The previous record was set by 18 Sherman Place, which traded for $1,900,000 in 2007, said the story.

The 1960s house at 107 Terrace Place was extensively renovated and came with a garage. The floor plan is unusual, with the kitchen and dining room on the same floor as the bedrooms, but the living room is on the ground floor. The five-bedroom home has 3,500 square feet of space and a top-floor rental unit.

The story asked if Windsor Terrace could be “the next Park Slope” and noted soaring multi-million-dollar prices there are pushing up prices in Windsor Terrace and elsewhere throughout Brooklyn.
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