217 west 57 street aka the Nordstrom tower of developer Extell has released some renderings. The building should be completed by 2018 and will rise to 1479 feet at the roof level and have a pinnacle height of 1775. Developer Extell was also responsible One57 which is located at 157 west 57 street and has for now set the record for most expensive sale of a Manhattan apartment at $100.47mm earlier this year. Several other properties are going up around Billionaire’s Row including 432 Park avenue, and 220 CPS.
At the corner of 96th street and Central Park west on Manhattan’s upper west side, signage has gone up for a condo conversion and there is a teaser site.
360 CPW signage
The residential portion of the building, according to Propertyshark.com, is just under 156k sqft. Additionally, there is the Second Presbyterian Church which is on 96 street.
Apparently, the building will become condos. See below website to register.
The building is ideally located at the corner of CPW, adjacent to the B,C subway lines and also the M96 and M10 buses. It is also right across the street from 361 CPW which is the church-to-condo conversion that is making it’s way through the community review process due to needed variances for adding windows and a possible penthouse.
If you are searching for an apartment on the Upper west side of Manhattan, perhaps you will find the NYT The Hunt article interesting. A couple of flight attendants had a tiny 350 sqft apartment in a walk-up on the upper east side and then decided to trade up.
Along the way, they were turned down by a Board on the Upper East side, then changed brokers and went searching on the Upper West side with a max budget of $700k.
Will they be able to find an apartment? Will they get turned down again by a Co-op board? Read the full article to learn the answers.
Do you play tennis on the Upper west side? With 26 Hartru courts and several hardcourts for lessons located mid park at 96th street, maybe you should. A full season permit only costs $200 and for seniors and minors it’s about 1/10th of that for the whole season.
You can obtain your permit online or in person in several locations including Paragon Sports downtown and the Arsenal on 5th avenue.
Another reason to live on the Upper West side
The courts are in pristine condition and thanks to some rain on Thursday will be ready for play! Always check the hotline on days that it rains.
HOTLINE NUMBER 212-280-0205
The courts are supposed to open Monday April 20th. Call the hotline for details.
The condo conversion of the former Church at 96 street and Central Park west on Manhattan’s Upper west side received a zoning exemption from CB7. Now the developer will go forward to the next series of approvals. Eventually, their plan will include adding more window and possibly a penthouse to the church as well.
Read Dnainfo’s coverage by clicking the link below.
Rupert Murdoch is asking $72 million for the triplex he owns and purchased as raw space. It is currently under construction and it appears Mr. Murdoch is keeping the 57th floor which is an interesting move since he is selling the triplex (58th-60thfloors)which is about 6850 sqft and the 55th and 56th floor are for sale as well as raw space. That opens the door for someone to purchase 6 floors of raw space for $109mm plus the amount Mr. Murdoch would want for the 57th floor. This would total about 17k sqft more or less and probably could be had for about $140mm total. Mr. Murdoch purchased the 4 floors in February of 2014 for 57.25mm.
One Madison which is located at 23 east 22 street included among it’s initial purchasers Giselle Bundchen and her somewhat famous husband the Super Bowl MVP Tom Brady of the New England Patriots. In an interview published in the NYT magazine at the time of the Super Bowl, which Mr. Brady gave at his Flatiron area home , the reporter asked for the address. Mr. Brady was that he didn’t know the address but that it’s the only very tall building in the immediate neighborhood.
According to commercial brokerage Cushman & Wakefield between 2009 and 2015, 500,000 jobs have been added in New York. The added jobs is having an impact on Millenials whose preferences are exerting an influence both in NYC and other states across the US.
Millenials who are born between 1984 and 2000 in general want to live in cities and walk and not use cars. As a result, many large companies including Google have relocated to NYC. In addition, in other markets outside of NYC, millenials are making up a large portion of the buying population. Due to the high prices in Manhattan, we don’t see as much millenials buying as in other states.
Based on the pace of the first quarter sales of commercial and mixed use buildings, this market is poised to surpass significantly the $57.7 Billion in sales of 2014.
I was reading a recent article and someone commented that NYC property is like a Swiss bank account for investors because it’s considered so low risk and certainly will go up in the future. But where do you buy and for how much? Should you get a loan or pay CASH? Here’s some advice that may help you to decide.
So let’s say you have $1 million just as an example and you want to invest. What are your options assuming you will not live there? Click through for guidelines.
Many families are staying in Manhattan and as a result of the cost of living being so high, two income couples depend on the services of a nanny. However, working out the terms of employment for this critical member of the family can be tricky for those who don’t do research first.
A nanny working more than 40 hours per week is entitled by law to overtime paid at time and a half. Some families are so attached to their nannies that they give them gym memberships, cars to use on the weekends, metrocards, money for food and even country club memberships. Many nannies claim that they are the ones being taken advantage of by the parents. As a result, lawsuits are on the rise behind nannies and their employers.
Read the full article on NYPost for some more advice and anecdotes.
News about the NYC real estate residential and commercial markets provided and interpreted by an industry veteran licensed since 1999. Brian Silvestry of BSRG Inc. Licensed real estate broker
