200 East 66th Street, Unit C1004

200 East 66th Street, Unit C1004

UPPER EAST SIDE, MANHATTAN

2 Bed  |  2 Bath  |  Rental

Offered At $9,500 (No Fee)

 

Make your new home in this meticulously updated two-bedroom, two-bathroom showplace in the heart of Lenox Hill located in an impeccable New York City landmark condominium.

Representing the epitome of the award-winning Manhattan House apartments, this nearly 1,500-square-foot former sponsor model home features one of the building's best layouts and is situated in the most desirable tower. Inside, the building's architectural hallmarks — large windows facing south and east and an oversized projecting balcony — create a true synthesis of indoor-outdoor living. Completely renovated two years ago, the home features premium finishes throughout and abundance of details and features that make daily living a joy, including sound attenuating, energy efficient windows; three-zone air-conditioning; in-unit washer-dryer; room darkening shades in the bedrooms; and heated floors and towel bars in the master bathroom. White oak floors pave the home, and the masterful chef's kitchen features premium stone, Viking stainless steel appliances plus brand new floors by Artistic Tile. Lastly, both bathrooms feature the newest and most modern sponsor finishes within the building.

Residents enjoy 24-hour doorman and five-star hotel concierge services, full-time resident manager, on-site parking and an array of world-class amenities. Landscaped drives and porte cochère entrances lead to a spectacular glass-enclosed lobby, and the block-long private grounds — among the largest in the city — feature lush greenery and sculpture gardens. The rooftop Manhattan Club offers 10,000 square feet of interior and exterior amenity space, including an Exhale Mind Body Spa and yoga studio offering free classes to residents. Additional amenities include a state-of-the art fitness club currently being expanded and a massive children’s playroom.

Set in the heart of Lenox Hill, the award-winning Manhattan House condominium is considered to be the first and the finest white brick building in the city. This stunning home benefits from both Upper East Side residential tranquility and direct proximity to Midtown. Central Park and the East River Promenade deliver iconic outdoor space and recreation, and transportation is effortless with N/Q/R/W, F and 4/5/6 trains all within minutes.

18 Contracts Signed Last Week At Or Above $4M

LUXURY MARKET REPORT 2018


Report on Contracts Signed
NYC Residential Properties
$4 Million and Above

December 3-9, 2018

18 Contracts Signed

Eighteen contracts were signed last week, the lowest total for the start of December since 2015, when 19 contracts were signed. In case you are wondering, 30 contracts were signed in the same week in both 2017 and 2016.

The No.1 contract was 603/605 in 1 Central Park South, asking $23.5 million. This Plaza Hotel condo has 3,196 square feet including 4 bedrooms and 4.5 bathrooms. All the rooms face Central Park. The apartment comprises two units that were purchased separately for a total of $15,275,000 in the fall of 2014 and then combined. Plaza condos have access to hotel amenities.

The No. 2 was the 3rd floor at 503 West 24th Street, asking $19 million. It was sold as a raw white box in a new 6-unit condo building called The Getty, designed by Peter Marino. Amenities include a doorman and fitness room.

Total Weekly Asking Price Sales Volume: $157,330,000
Average Asking Price: $8,740,556
Median Asking Price: $5,222,500
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 400
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 14 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 CONTRACTS SIGNED ON TOWNHOUSES

222 East 80th Street, Unit 10C

222 East 80th Street, Unit 10C

UPPER EAST SIDE, MANHATTAN

2 Bed  |  2 Bath  |  Co-op

Offered At $1,200,000

Welcome home to this sunny 10th floor 2 bedroom 2 bath at The Kimberly! A stunning 32 foot long living/dining room with beautiful hardwood floors is the show stopper of this home. There is plenty of space for both entertaining, dining, and lounging. There is a built out walk in closet near the entrance with plenty of storage for coats and more, and the kitchen is just off to the right across from the dining area. The split bedroom layout is ideal for privacy. The Master has double walk in closets and an ensuite bath, and room for a king sized bed plus dressers and office area. The second bedroom is sizable and has built out California closets for easy storage. There is an additional full bath plus linen/storage closet just outside the second bedroom. With 5 closets total, all replete with built ins, there is plenty of storage. The cherry on top is the 10x6 terrace off the living room, great for a morning coffee or an evening drink!


The Kimberly is a full service white brick building with recently renovated halls and lobby. The staff is very friendly and the building has a live in super, roof deck, laundry room, additional storage and bike storage as well as a garage. Heat and AC included in the maintenance. Around the corner from great shopping and restaurants, across the street from Eli's market, 2 blocks from Gristedes and close to the 86th st. Fairway this location is perfect! Easy transportation at the nearby Q and 6 trains. Sorry, no dogs allowed.

The Monthly Update - December 2018

Why The Downturn In The Housing Market

In A Robust Economy?

When I explain to sellers the reality of what their home is worth in today’s real estate market, they repeatedly ask me, “Why is the housing market in a downturn while the economy seems to be chugging along?” There have been countless articles, blogs and newsletters written on the subject, but yet when it’s time to sell, sellers are still baffled.

To tackle the question, one needs to closely examine key factors of economy, not just a bullish stock market or historic low unemployment. A few points to consider:

Interest Rates:

After the market crash in 2008, the Federal Reserve kept interest rates low to stimulate the economy. It took a few years, but soon banks start lending again at super (artificially) low interests rates. Money was cheap. The stimulation started working on the housing market in 2010 and 2011 like crack, so much so that, by 2015, it was up double and triple digits in most corners of the U.S. However, a strong economy stokes fears about inflation, which in turn drives the Fed to raise interest rates, which it has been doing at a slow but steady clip. Last week, according to Bankrate [link here], mortgage rates rose to 5.10 percent, a seven-year high. A year ago, they sat at 4.10 percent.

Wage Growth:

As all this interest rate correction was happening, wage growth remained stagnant. Millennials, who are now at the prime age to purchase home, never really had the wages to afford the housing market’s sharp increases. Now, you’re seeing the housing market forced adjust itself to a buyers’ market when the bulk of buyers have been priced out of the market!

Higher interest rates + minimal wage growth is a sticky equation to overcome. And while wages have started to tick up ever so slightly as of late, today’s buyer pool refuses to pay the prices earned in the heady cheap-money days of 2015. As a result, you're seeing property sit on the market for twice or three times as long as before, and many sellers are forced to drop prices to attract offers. Especially if they weren’t priced appropriately to begin with.

But when a housing market shoots up past the rate of inflation and wage growth, the old adage comes to mind: If something can’t go on forever, it won’t.

History Lesson Did You Know?

December was originally the tenth month of the year in the Roman calendar. It gets its name from the Latin word "decem" which means tenth. However, when the Romans added January and February to the calendar, it became the twelfth month. They still kept the name, though. 

Local Events 

Radio City Christmas Spectacular

Dec. 1, 2018 - Jan. 1, 2019

For nearly a century, the Rockettes have appeared at Radio City Music Hall in hundreds of stage spectaculars, and this year they return with a new finale. Bring the entire family for a show that's sure to entertain. Buy tickets here. 

 

Santacon

December 8, 2018 (10 a.m. to 8 p.m.)

Give back with the masses at this year's Santacon, a charitable bar crawl which has raised more than $400,000 over the last 5 years. Grab your Santa hat and donate here before lining up for the infamous daytime event! 

 

Make Music Winter

December 21, 2018 

Make Music Winter features a dozen musical parades on the streets and sidewalks of NYC on the first day of winter. Come watch, or join in for free! For more information, click here. 

 

New Years Eve in Times Square 

December 31, 2018

The age-old tradition of New Year’s Eve in Times Square features dazzling lights, famous musicians, balloons, fireworks, and a crystal ball that drops at midnight. To join the crowd and see it live, be sure to arrive early! Click here for more info. 

Tips & Tricks

'Tis the season! Whether you're looking back or planning ahead, one thing is certain: the year is coming to an end. Below you'll find all you need to celebrate the past year and coordinate what's to come. 

How to Host a Holiday Party Like a Pro

From gift swaps to girls' night, hosting during the holidays seems inevitable. Feeling stressed? Clever has you covered with the best ways to prepare for hosting duties in this article. 

The Top 20 Places to Travel in 2019

With a new year comes new adventures. If you're looking to satisfy your wanderlust, check out this article by Architectural Digest, which details the most interesting places to travel in 2019.

20 New Year's Eve Decorations to Celebrate 2019 in Style

As the year comes to a close, its time to usher in a new beginning surrounded by those you love. Kick off the countdown in style with these decorations, as recommended by Elle Decor. 

7 Long Island City Restaurants to Try Before Amazon Moves In

As Amazon prepares to move into Queens, New Yorkers are understandably concerned about how the tech giant will affect the beloved borough. Change may be coming but there's still time to enjoy the best restaurants in Long Island City, as recommended in this article by Vogue.

Follow Us On Instagram!

#TheHoffmanTeam | @HoffmanTeam

Gallery Block
This is an example. To display your Instagram posts, double-click here to add an account or select an existing connected account. Learn more
Etiam Ultricies
Vulputate Commodo Ligula
Elit Condimentum
Aenean eu leo Quam
Cursus Amet
Pellentesque Risus Ridiculus
Porta
Etiam Ultricies
Vulputate Commodo Ligula
Elit Condimentum
Aenean eu leo Quam
Cursus Amet

‘Fearless Girl’ Is Moving To Her New Permanent Location

The four-foot bronze “Fearless Girl” statue was removed from her spot across from the iconic “Charging Bull” in Bowling Green Tuesday night, AMNew York reports, and is on her way to a more pedestrian friendly spot in front of the New York Stock Exchange. Since its appearance in 2017 a day before International Women’s Day, sending a message to Wall Street for the need of gender equality in the financial world, the diminuitive statue has become a major attraction, drawing millions of tourists and locals. State Street Global Advisors, the investment company that owns the statue, said she’d be installed in her new home by December 31.

Fearless Girl and Charging Bull statues on Wall Street; via Anthony Quintano’s Flickr

In place of the statue, the company has installed a plaque with two footprints, letting visitors know the #FearlessGirl statue is “on the move” to a new spot and to “stand for her” in the meantime. The relocation of the statue, which was created by artist Kristen Visbal, will alleviate safety issues that had been arising from the crowds that regularly gathered on the narrow Broadway median. Her new home is an area with very little vehicular traffic.

The statue was only expected to stay for a week, but it struck a nerve, and Mayor Bill de Blasio extended the permit that allowed it to stay for more than a year. The mayor announced in April that it would be moved to a new location that would maintain its symbolism in a more pedestrian-friendly spot than Bowling Green: “We are proud to be home to the Fearless Girl. She is a powerful symbol of the need for change at the highest levels of corporate America—and she will become a durable part of our city’s civic life. This move to a new location will improve access for visitors and ensure that her message and impact continues to be heard. We’re grateful to State Street for their partnership in keeping the Fearless Girl here in New York City.”

“I am thrilled Fearless Girl will remain in New York, inspiring global collaboration between genders for better decisions, and an improved environment at every strata of society,” said “Fearless Girl” sculptor Kristen Visbal.

[Via AMNY]

How To Get Around Midtown During Today’s Rockefeller Center Tree Lighting

Driving in Midtown is never advised, but really must be avoided this Wednesday. The 86th annual lighting ceremony of the Rockefeller Center Christmas Tree kicks off tomorrow, bringing with it more than 100,000 spirited visitors and blocks of street closures. The city’s Department of Transportation designated Wednesday a “Gridlock Alert Day” for the celebration, meaning drivers can expect travel throughout the area to take twice as long as usual.

The 12-ton spruce will officially light up at 9 p.m., with its sparkling 900-pound star on top. Performances from the Radio City Rockettes will be held at 11 a.m., 2 p.m., 5 p.m., and 8 p.m. Ella Mai, Rob Thomas, Diana Ross, Tony Bennett, John Legend and more artists will be performing during the celebration as well, NBC announced Tuesday.

According to the Daily News and Gridlock Sam, traffic jams will start around 2 p.m. when early birds arrive to claim their spot closest to the Christmas Tree and street closures will begin at 3:30 p.m.

To avoid the congestion, take the B, D, F, or M to 42nd Street, the 6 to 51st Street, the 1 to 50th Street, or the N/R to 49th Street. But expect “pedlock” (overcrowding and potential stairway closures) at the Rockefeller Center and Fifth Ave-53rd Street stations.

Here’s the full list of closures:

  • 46th Street between Fifth Avenue & Sixth Avenue

  • 47th Street between Fifth Avenue & Sixth Avenue

  • 48th Street between Fifth Avenue & Sixth Avenue

  • 49th Street between Fifth Avenue & Sixth Avenue

  • 50th Street between Fifth Avenue & Sixth Avenue

  • 51st Street between Fifth Avenue & Sixth Avenue

  • 52nd Street between Fifth Avenue & Sixth Avenue

  • Rockefeller Plaza between 48th & 51st Street

  • Fifth Avenue between 46th Street & 62nd Street

  • Sixth Avenue between 46th Street & 52nd Street

[Via NY Daily News]

Ikea Plans To Open A Manhattan Store

Amazon, Target, and Trader Joe’s have all cemented their Manhattan presence in recent years, and it looks like Ikea does not want to be left out of the action. In a Wall Street Journalstory today that discusses the Swedish furniture company’s larger restructuring plans (which includes slashing 7,500 jobs in an attempt to focus on delivery and digital efforts), it was revealed that Ikea will open 30 new stores in city centers over the next two years. There is currently a store in central London, and the next foray into major urban hubs will be its largest yet, a 5,000-square-foot space in Paris. After that, they’ll open a city-center store in NYC, which we assume will be somewhere between FiDi and the 80s.

The jobs that Ikea is getting rid of are mainly in the communications, human resources, and administrative departments. But by investing in delivery, digital, and city-center stores, the furniture giant plans to create 11,500 new jobs over the next two years, a very steep increase considering they currently employ 160,000 corporate staff. The shift comes after internal research revealed that 80 percent of Ikea customers research and plan their purchases before even entering a store. In response, as the Journal explains, “IKEA is cutting the number of products it displays, freeing up space for more mocked-up living rooms and bedrooms.” They also bought

Since opening its first store in the Swedish village of Älmhult in 1958, Ikea has focused on opening sprawling locations in more rural or industrial areas outside of city centers. However, with statistics showing that 70 percent of the world’s population will live in cities by 2050, they’ve decided to adjust this strategy. Assuming that New Yorkers take to this idea, Ikea then plans to open similar city-center stores in Washington, D.C., Los Angeles, and San Francisco.

Ikea’s property division, Ingka Centres, is also taking a new city-center approach. Commercial Observer recently reported that the development arm will open six mixed-use developments in the next two years as part of a $6.6 billion investment plan. In addition to a proper Ikea store, these complexes will have retail and entertainment areas, commercial space, and health education services. The first of these locations is being built for $1.1 billion in Shanghai, China. For North American ventures, New York City and San Francisco are at the top of the list, though it’s not clear whether these much larger projects would be directly in Manhattan.

20 East 9th Street, Unit 20A

20 East 9th Street, Unit 20A

GREENWICH VILLAGE, MANHATTAN

1 Bed  |  1 Bath  |  Co-op

Offered At $1,100,000

Make your home among the city's iconic skyline in this rarely available, high-floor studio/one-bedroom home in the renowned Brevoort East cooperative. Located in the epicenter of Greenwich Village, at Brevoort East, you'll enjoy superb access to vibrant Downtown living and a long list of coveted amenities.

Golden sunlight and sweeping views surround you the moment you enter this spacious corner home thanks to wide windows facing both north and west. Unobstructed views stretch all the way to the Empire State Building and beyond, creating a chic backdrop in the large living/dining room. The roomy foyer and entry closet provide a gracious arrival, and the adjacent kitchen is well-equipped with stainless steel appliances and ample cabinet space. Wide-plank maple floors guide you to the sunny bedroom where multiple large closets and built-ins easily attend to wardrobe and storage, and the ensuite private bathroom features modern fixtures.

Located within the Greenwich Village Historic District just inches from Greenwich Village's famed Gold Coast, the Brevoort East is a postwar white-glove building frequently called one of Manhattan's finest co-ops. Amenities include 24-hour doorman and concierge service, on-site resident manager and live-in superintendent, fitness center, children's playroom, residents' storage, laundry, on-site parking garage and a landscaped roof deck with breathtaking views. Guarantors and pets are allowed with board approval; pieds-à-terre and co-purchasing are not permitted.

Steps from Washington Square Park, with immediate access to Union Square and Gramercy Park, world-class restaurants, nightlife, shopping and entertainment venues make this neighborhood truly unbeatable. Michelin-starred eateries Gotham Bar & Grill and Nix are minutes away, and both Trader Joe's and Whole Foods sit along 14th Street. Access to transportation couldn't be better with N/Q/R/W, A/C/E, B/D/F/M, 4/5/6, L and PATH trains all nearby.

3 Hanover Square, Unit 20E

3 Hanover Square, Unit 20E

FINANCIAL DISTRICT, MANHATTAN

Studio  |  1 Bath  |  Co-op

Offered At $635,000

This beautifully renovated, loft-like studio perched on the 20th floor provides open city and partial water views in one of the most desired prewar Financial District/Seaport co-op.

Warm western light captures your attention through over-sized, 61” windows the moment you enter. Ample storage throughout includes a large entry closet and custom built-in, walk-in closet. Chic white floors pave the updated home, and ceilings have been raised to create grand proportions that emphasize space and light. In the renovated open kitchen, you'll find premium cabinetry and countertops and stainless steel appliances. The space is also easily convertible to a one-bedroom.

Originally built as the site of the New York Cotton Exchange, 3 Hanover Square is a regal limestone building and one of the very first residential conversions in FiDi.Residents of the sought-after, pet-friendly co-op enjoy 24-hour doorman/concierge service, live-in superintendent, bike room, and both laundry and free, shared storage right on the 20th floor. The lobby is undergoing a full renovation and should be completed by end of 2018. The serene British Memorial Garden sits right outside providing a lovely introduction to this stately building. Pieds-à-terre and subletting permitted.

Immersed in the historic Financial District, just a stone's throw from the revitalized Seaport District, this location is filled with fantastic shopping, dining, nightlife and entertainment. There are bagel, deli, coffee, Japanese and Italian venues within the building, and Stone Street's great outdoor cafés and bars are right outside your front door. Wall Street and the Oculus/Westfield World Trade Center are within easy reach and home to Eatily! The East River bikeway and The Battery provide excellent waterfront outdoor space and recreation. Transportation options are plentiful with J/Z, 2/3, 4/5 and R trains plus the Pier 11 ferry landing all just minutes away.

12 Contracts Were Signed Last Week At $4+ Million

LUXURY MARKET REPORT 2018

Report on Contracts Signed
NYC Residential Properties
$4 Million and Above

November 19-25, 2018

12 Contracts Signed

Twelve contracts were signed last week at $4 million and above, a typically low total for a Thanksgiving Day week.

Stat Geek Alert: The lowest total for a Thanksgiving Day week since 2006 when we started keeping track? One. You read that right—one contract was signed. The year was 2008—2 months after the Lehman crash.

The No.1 contract was 9S at 70 Vestry Street, asking $23.5 million, raised from $21 million when it was offered off of floorplans in April 2016. The unit has 4,355 square feet including 4 bedrooms and 4.5 bathrooms, plus 2 terraces totaling 522 square feet. 70 Vestry is a 14-story, 46-unit condo that was designed by Robert A.M. Stern with interiors by Daniel Romualdez. Amenities include a doorman, concierge, garage, a fitness center, squash court, and 3 pools: an 82-foot lap pool, a separate children’s pool, and a hot-and-cold plunge pool. There is also a library, billiards room, and children’s playroom. Nineteen units have closed so far, averaging $3,908/square foot and 3,664 square feet.

The No. 2 contract was M9C at 7 Hubert Street, asking $8.75 million, reduced from $9.25 million when it went on the market in April. This maisonette triplex condo has 4,633 square feet including 3 bedrooms and 3.5 bathrooms, plus its own private entrance on Collister Street. Amenities include a gym, concierge, and children’s playroom. The owner of M9C paid $4.950 million for the unit in 2007.

Happy Thanksgiving!

We wanted to take this opportunity to wish you and your family a Happy Thanksgiving.  The warmth of the season and the gathering of family and friends reminds us all of the many reasons we have to be thankful. We wanted to take this time and express our sincere appreciation for you. 

        Warmest Wishes,

             The Hoffman Team

Best Macy’s Thanksgiving Day Parade Spots

There are 2.5 miles of public viewing along the parade route in NYC; this interactive mapcan help you find a great spot instead of getting lost in the crowd. The map, from the fine folks behind the parade, outlines when the parade will pass by, which streets have the best public views (6th Avenue from West 59th to West 38th Streets gets the thumbs-up) and which ones are restricted, such as Central Park South at Columbus Circle. Also marked are all-important things like coffee, food and restrooms.

The parade rolls into gear at West 77th Street and Central Park West at 9 a.m. ET–though public viewing at that spot is limited. Pre-parade balloon inflation–a fun NYC tradition–happens outside of the Museum of Natural History (between West 77th and West 81st Streets). You can zoom in on the map to find out where your favorite balloons are going to be.

Early risers stake out space on the west side of Central Park West from West 75th to West 59th Streets starting at 6 a.m.; with reason, as views are great from there. Check out the map and enjoy the parade!

Only 14 Contracts Were Signed Last Week At $4 Million+

Report on Contracts Signed
NYC Residential Properties
$4 Million and Above

November 12-18, 2018

14 Contracts Signed

Only 14 contracts were signed last week at $4 million and above, a disappointing total after 3 straight weeks of 20 or more sales. Condos outsold co-ops, 7 to 6, with 1 townhouse in the mix.

Stat Geek Alert: For the first time since September 2017, not one contract was signed for $10 million or more.

The No. 1 contract was 29A at 255 East 74th Street, asking $7,995,000, reduced from $8.495,000 when it went on the market in October. The owner paid $7.6 million in July 2017. The condo has 3,505 square feet including 5 bedrooms, 3.5 bathrooms, and panoramic city views. The unit also has a 37-foot living room with 10-foot ceilings and an eat-in kitchen. Amenities include a concierge, children’s playroom, and access to an Equinox gym in the building for a separate fee.

The No.2 contract was PHA at 410 West 24th Street, asking $7.95 million, reduced from $8.4 million when it was listed in May. This co-op has been featured in Architectural Digest and is in an art deco complex of buildings known as London Terrace. The unit has 2 bedrooms, one of which was converted into an office/library. It also features 11-foot ceilings, a fireplace, and a wraparound terrace. Amenities include a doorman, gym, pool, and a garage.

Daniel Libeskind’s 900-Pound Star For This Years Rockefeller Center Christmas Tree

The star that tops the Rockefeller Center Christmas Tree each year never fails to dazzle; this year is no exception. The 12-ton Norway Spruce has been crowned by architect Daniel Libeskind‘s creation consisting of 3 million Swarovski crystals and weighing in at 900 pounds. The World Trade Center master site planner, known for his geometric, angular designs, called the star “a symbol that represents our greatest ambitions for hope, unity and peace.” And we can all use plenty of that.

Image: Diane Bondareff/AP Images for Tishman Speyer via TimeOut

This year’s dazzler is the first new star in 14 years. According to Bloomberg, the new star is nine feet, four inches wide, with 3 million double-cone crystals radiating from 70 spikes. Each spike uses six-millimeter ESG glass and fLED lighting components developed by Swarovski. At its core the star uses 70 custom-machined aluminum components and 140 LED lighting spots that will emit 106,400 lumens of white light when switched on during the Nov. 28 tree-lighting ceremony and will remain on display through January 7, 2019.

Image via Swarovski

The new star took two years to create–and the creator himself didn’t see the finished product until just days before the unveiling on November 14. Libeskind, who is the first architect to collaborate on a Swarovski star, was inspired by, among other things, Leonardo da Vinci’s studies of geometric forms. The tree-lighting will be broadcast live on NBC on November 28.

New FAO Schwarz Flagship Store Opens Today

To mark the return of the iconic FAO Schwarz toy emporium to NYC in the form of a new 2.5-story, 20,000-square-foot-plus flagship at 30 Rockefeller Plaza, the store hosted a celebrity-studded VIP preview Thursday night ahead of Friday’s opening. Guests included Neil Patrick Harris and David Burtka, Whoopi Goldberg, Bethenny Frankel, Morena Baccarin, Carrie Berk, and Disney’s Mia Sinclair Jenness. Doors opened today at 10:30 a.m., kicked off with a ribbon-cutting ceremony. With a nod to the brand’s magical history as part of New York City lore, the new store uses the Art Deco architecture of its new home to amplify memories of FAO experiences from years past; a look toward the future begins with FAO Schwarz toy soldiers flanking the store’s 49th street entrance sporting new uniforms designed by supermodel Gigi Hadid.

In the words of David Conn, CEO of ThreeSixty Brands, owners of the FAO Schwarz brand, “FAO Schwarz was built on in-store experiences, which has made it a global destination over the years. We are bringing back the wonderment of toys and a deep nostalgia for the larger than life experience that FAO Schwarz has offered to parents and children alike for over 150 years.”

View of the Grand Piano. Photo by Cindy Ord/Getty Images for FAO Schwarz.

FAO Schwarz’s newest icon, a 27-foot-tall rocket ship sponsored by Build-A-Bear Workshop, awaits to transport guests at the Rockefeller Plaza HQ to a world surrounded by classic plush creations. From the 49th Street entrance, guests are greeted by an iconic three-story, three-dimensional clock tower. Inside, a journey of discovery begins with over 200 FAO Schwarz-branded toys as well as products from over 15 well-loved toy brands and unique experiences including the famous FAO Schwarz dance-on piano.

Candy, too, is in the house, courtesy of specialty candy retailer IT’SUGAR and a new FAO Schweetz-branded product line includes giant gummy bears and unicorns, make-your-own gummy worm kits, and mega chocolate bars. The new store boasts over 140 employees, and personal shoppers are on hand to fill any guest’s quest for wonderment.

MTA Approves Discounted MetroCards For 7- And 30-day Passes

Reduced MetroCards are coming to New York City in January, but the discounts only apply to weekly and monthly passes. New details about the Fair Fares program, which was officially included in the city budget in June, were released on Tuesday during an MTA board meeting. According to meeting minutes, the MTA will not be providing single trip discounts when the program kicks off next year. Instead, low-income New Yorkers who are living at or below the federal poverty level, or a household income of $25,000 for a family of four, can buy half-off 7-day or 30-day passes.  

“We always envisioned riders being able to purchase any fare type at half price and hope that this flexibility is added as the program rolls out,” David Jones, MTA board member, said in a statement to Gothamist. “Choice is important to all customers, especially for those who are financially constrained.”

A pilot Fair Fares program will launch in January and will run until June. As 6sqft previously reported, the City Council and Mayor Bill de Blasio agreed to provide roughly $100 million in funding six months of the program, fully subsidizing the cost during the test run.

Original estimates found nearly 800,000 New Yorkers would benefit from the discounted subway and bus fares. But it’s unclear as of now how many straphangers will benefit without a reduced fare for single trips. Since it’s kicking off as a pilot program first, details are still being worked out.

Amazon Could Reap Nearly $1B In City Tax Breaks With Its Move To L.I.C.

The state of New York is keeping the incentives it used to woo Amazon under wraps, but even without those benefits, an existing tax program could work in Amazon’s favor — to the tune of almost $1 billion. After a highly publicized search, the tech giant is nearing a deal to locate half of its new headquarters in Long Island City. And as The Real Deal explains, that move means Amazon will qualify for the city’s Relocation and Employment Assistance Program (REAP), which offers employers a $3,000 credit per employee per year for 12 years if they move their business into the outer boroughs and certain parts of Upper Manhattan. With Amazon’s projected workforce of 25,000, that would mean a total credit of $900 million.

The program was designed to encourage outer borough growth and cost the city $32 million in foregone taxes in the last fiscal year, according to the Department of Finance. But Amazon alone will cost the city more than that once hiring begins. The company plans to hire over the course of 10 to 15 years, which could mean a peak of between $60 and $75 million in tax breaks over the course of consecutive 12-year periods. (At the moment, the program is approved through 2020.)

Amazon is facing criticism for forcing cities to compete for its business by offering billions of dollars in tax and other incentives. The pushback from politicians in Queens, in particular, has been vociferous. State senator Michael Gianaris and City Councilman Jimmy Van Bramer made a joint announcement on Sunday denouncing the planned expansion. They are concerned that the company’s move could tax the borough’s infrastructure and that it was planned without community input. “We were not elected to serve as Amazon drones,” Gianaris and Van Bramer said. “It is incumbent upon us to stand up on behalf of the people we represent and that is what we intend to do.” Even Facebook and Google have spoken out against Amazon, noting that their growth in New York City came without any tax incentives.

The tech giant is reportedly looking at the Anable Basin site in Long Island City for its new headquarters, where a proposed rezoning could open up 15 acres to mixed-use development, including 335,000 square feet for industrial spaces, nearly 5,000 housing units, and a new public school. Just a few weeks ago, the city announced that it will invest $180 million “to support sustainable growth” in Long Island City, a move that many now believed was done to tee up the Amazon move.


The Monthly Update - November 2018

The Buyer’s Dilemma: Buy Today Or Buy Tomorrow?

We are, no doubt, in a buyers’ market. Prices have fallen significantly since the beginning of the year across all sectors. Meanwhile, buyers are certainly taking their time looking at properties and placing offers, with no measurable sense of urgency at all. Why? Buyers are still on the fence about whether this is the best time to buy or not. A lot of them are asking themselves whether it would be more affordable to wait six months when properties might be 10 percent cheaper, but interest rates are higher. Or is it better to buy now while rates are still low?  

The truth is, it’s better to buy today. Some sellers have been on the market for so long that, in many instances, they’re extremely negotiable. And, if you can take advantage of the still historically low interest rates today, as well as the negotiable deals available, you can truly have the best of both worlds: low prices and low interest rates.

And prices never stay low in Manhattan for long. Once there is the mere suggestion of a “buyers' market”, buyers move into the market quickly and snatch up what’s available. Then, before you know it, prices are climbing back up again for the next cycle. It happens quickly — just ask anybody who was trying to time the market in 2009, 2010, 2011… They waited a few more years and, all of a sudden, the cycle was over. So, if you’re interested in purchasing a property, get out there and find the one you want, make an offer and get the deal done. Today is the day to buy.  

Winter Village at Bryant Park

November 1, 2018 - January 2, 2019

Immerse yourself in the holiday spirit at Winter Village in Bryant Park. Starting November 1, the holiday market features 150+ vendors as well as free ice skating. For more information, click here. 

Holiday Train Show

November 15, 2018 - February 3, 2019
History and train enthusiasts alike will enjoy the Holiday Train Show, set up inside the New York Transit Museum Store. The installation features a 34-foot-long model train layout with trains and subways that run on eight loops of track. You can read more here. 

The Nutcracker

November 23 - December 30, 2018

Enjoy a holiday tradition with George Balanchine’s The Nutcracker, which returns on November 23. With old-fashioned costumes, a tree that grows before your eyes, and Tchaikovsky’s captivating music, the ballet is hosted at David H. Koch Theater. Buy tickets here.

Rockefeller Center Tree Lighting

November 28, 2018

Join thousands of spectators in awe for the annual lighting of the Rockefeller Center Tree. Free and open to the public, the ceremony will occur on November 28th. Read more about this historic tradition here. 

143 East 36th Street - Murray Hill Townhouse

143 East 36th Street

MURRY HILL, MANHATTAN

7 Beds  |  5 Baths  |  4 Units | Townhouse

Offered At $4,750,000

Murray Hill Four-Unit Townhouse

This perfectly located four-unit building is the ideal opportunity for investors, homeowners or developers looking to create high-end rentals or a stunning single-family home in the heart of Murray Hill.

Virtually staged photographs highlight the possibilities in this fantastic 17-foot-wide Italianate building filled with period details. Currently configured as a garden-floor duplex with three full-floor flats above and a total of 9 fireplaces, this is an ideal opportunity as an investment property, primary residence with income-producing units or a reimagined five-story showplace. The duplex offers upscale finishes, two fireplaces, central air, a full-floor master suite and open plan living space that opens to the large, landscaped backyard. Upper units — two (2) two-bedrooms and one (1) one-bedroom — include fireplaces, crown moldings and lovely hardwood floors. All four free-market units will be delivered vacant at closing.

143 East 36th is a handsome brick and brownstone townhouse with a forecourt garden enclosed by a stately iron fence. Situated on a tree-lined block, just across from historic Sniffen Court, this central location is surrounded by great dining, shops and services. The AMC Kips Bay theater and Fairway Market are just minutes away, and the attractions and open space of Bryant Park and Madison Square Park are within easy reach. Access to transportation is unbeatable with 4/5/6, S, 7, B/D/F/M trains, the Midtown Tunnel and East 34th Street ferry landing within easy reach.

Your new home awaits.