One Vanderbilt at the center of proposed Midtown East rezoning

One Vanderbilt, a proposed 1450 foot tall office tower is at the center of the proposed Midtown east rezoning. The building if approved will be devloped by SL Green and will bring $210mm much needed infrastructure improvements to the area in exchange for being allowed to build twice the as of right height. Continue reading One Vanderbilt at the center of proposed Midtown East rezoning

Over the top amenities coming soon to a NYC condo near you

Many new condo developments are adding in amenities as a means to justify their price tags. Many of these amenities have now moved upstairs from their historic location in the basement of buildings. Due to the cost of land today, these amenities are used as a way to get higher price per sqft as opposed to the past when they were just add ons.

Read the full NYT article and learn about something called a hamam…

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29 east 69 street NY,NY 10021 UES townhouse $34mm

The 22 foot wide townhouse of Chilean interior designer Juan Pablo Molyneux has entered the market with a price tag of $34mm. In 2012, the 8700+/- sqft limestone townhouse was in the market for $48mm. The building is located between Madison and Park avenue and has 7 levels plus a duplex roof terrace according to the NYDN.  Continue reading 29 east 69 street NY,NY 10021 UES townhouse $34mm

SRO in Central Harlem remains an SRO

The SRO at 2299 Adam Clayton Powell Jr blvd is remaining an SRO. The owners bought the property for $1.4 million and then spent approximately $500k renovating and kept it as an SRO. The building contains a mix of rent stabilized tenants and renovated SRO rooms which will be rented out for as much as $1500 per month.

An SRO is a single room occupancy and typically has a layout of 2-4 rooms per floor with shared bathroom and kitchen. Layouts vary. When someone purchases an SRO they either receive a certificate of no harassment or apply for one if they would like to convert the building to another use like a 1 family. In cases where the building is occupied, some savy investors will continue to operate the building as an SRO sometimes waiting for tenants to move out or paying them to leave.

In the case of this property in Central Harlem, the owner kept it as an SRO and renovated the vacant units. Read the full article below and see an SRO for sale example. The SRO is a property that I am representng the owner. It is a vacant SRO sold without the certificate of no harassment. The asking price is $1,550,000.

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LISTING

 

325 Lex uses artwork to sell condos

Carmel Partners,the developer of 325 Lex has commissioned the British artist Patrick Morgan to do watercolors that will used in the promotion and marketing of this new condo which is already about 40% sold according to Luxury Daily. Mr. Morgan has previously worked with Justin Timberlake, Cameron Diaz and several luxury brands including Prada and Yves Saint Laurent.  Continue reading 325 Lex uses artwork to sell condos

Citibike to expand on Upper West and Upper East side

The often troubled Citibike NYC is expanding  further onto the Upper West and Upper East side. The expansion could bring bike stations as far north as 130 street. In all, an estimated 135 new stations could be created by 2017. Residents have mixed feelings and have the opportunity to share their thoughts at Community Board hearings. One for the Upper West side is scheduled for tonight at the Redeemer Presbyterian Church on West 83 street between 6 and 7pm.

NYPOST

Trump Soho may convert to Hotel

The Trump Soho Hotel which was built at a time when the zoning in the area didn’t allow full time residential on the site is currently deciding if it will convert the unsold apartments to hotel rooms. The project allows buyers to use their apartments for 120 days a year and then the hotel rents it out for them the rest of the year. Donald Trump and his organization… Continue reading Trump Soho may convert to Hotel

20 East end avenue NY,NY 10021 New development update

This new construction condo which will be finished in 2016, has 6 contracts out of the 16 apartments on the market in streeteasy. Prices for the Robert A.M. Stern building range from just under to $5mm to just over $14mm for the listings on the market at this time. Marketing started less than 2 weeks ago.

The 17 story building will have 43 units ranging from 2-6 bedrooms residences. It also features a porte-cochere and unique amenities according to the building’s website.

This is one of the latest new construction buildings to invoke prewar architecture with luxury finishes. This old as new trend started with Mr. Stern’s 15 CPW which until recently held the record for most expensive residential sale in Manhattan for $88mm.

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Building site