201 East 21st Street, Unit 7R

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201 East 21st Street, Unit 7R

GRAMERCY PARK, MANHATTAN

2 Bed  |  1 Bath | Co-op

Offered At $1,049,000

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Welcome to effortless, gorgeous living in this beautifully gut-renovated two-bedroom, one-bathroom home in Gramercy's well known Quaker Ridge co-op.

Filled with smart built-ins, great lighting and fine finishes, no detail has been overlooked in creating a sunny Junior 4 home that embraces comfort and convenience. Stunning wide-plank oak floors invite you into a welcoming foyer flanked by oversized custom closets — there are four total throughout the home — while an expanse of south-facing windows beckon you ahead. The roomy and open living room accommodates chic entertaining and relaxation with plenty of room for sitting and dining areas, a built-in bar with wine fridge, and custom cabinets for storage and A/V equipment. The adjacent open kitchen welcomes chefs with long and spacious counters and a breakfast bar, handsome cherry cabinetry and an army of stainless steel appliances, include a gas range, dishwasher and built-in microwave.

Already converted to a split-two-bedroom layout, the large master bedroom includes more built-ins, two custom closets, city quiet windows and easy access to the beautifully renovated contemporary bathroom featuring floor-to-ceiling stone, a frameless glass tub/shower and modern vanity. Across the living room, the second bedroom includes a built-in desk, making it ideal as a guest room, nursery or home office. Quaker Ridge is a revered postwar co-op known for its stellar financials and low maintenance. Residents enjoy full-time doorman service and live-in superintendent, modern laundry facilities, private storage, bike storage and a residents-only parking garage with direct access to the building. Quaker Ridge allows co-purchasing and pets, but does not permit guarantors or pieds-à-terre.

Set in the heart of Gramercy — with immediate access to the Flatiron District, NoMad, Union Square and the East Village — fantastic shopping, dining and nightlife are all within easy reach. Enjoy German food and world-famous Christmas decorations at Rolf's or feast on Italian favorites at historic Pete's Tavern. Union Square and Madison Square Park offer outdoor space, phenomenal greenmarkets and year-round events, and transportation is superb with 4/5/6, N/Q/R/W and L trains all nearby.

12 Contracts Signed Last Week At $4M+

LUXURY MARKET REPORT 2019

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

January 14-20, 2019

12 Contracts Signed

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Twelve contracts were signed last week at $4 million and above, a depressing total even for this time of year. How depressing? It’s the lowest total for the 3rd week in January since 2012, when 7 contracts were signed.

The No. 1 contract was PH54 at 56 Leonard Street, asking $22 million, reduced from $30 million when it went on the market in June 2017. The unit is selling below what the owner paid ($23, 982,851) in January 2017. It has 5,492 square feet including 4 bedrooms, 4.5 bathrooms, and outdoor space with 2 terraces and 2 balconies that total 1,567 square feet. The apartment has 14-foot-high ceilings and breathtaking city and Hudson River views. 56 Leonard is a 60-story, 145-unit condo designed like a glass obelisk by Pritzker Prize-winning architects Herzog & de Meuron. It has 17,000 square feet of amenities including a 75-foot pool, indoor/outdoor theaters, landscaped sundeck, fitness center, sauna, lounge, and a children’s playroom.

The No.2 contract was a townhouse at 109 West 11th Street, asking $11.65 million. This 4-story Greek Revival-style red brick house has 4,100 square feet including 5 bedrooms, 2 bathrooms, and 2 powder rooms, plus a landscaped garden. It was purchased for $3 million in 2002 and then gut renovated. It was listed last April.

Bruce Willis Asks $12.95 Million For 22-Acre Westchester Estate

Actor Bruce Willis and his wife Emma are listing their 22-acre country estate near Bedford Corners, N.Y., for $12.95 million as the couple plans a move to the West Coast.

"The only reasons we are giving it up is because we are so far from our California family, which is why we have decided to return to the West Coast and make our home there," Mr. Willis, 63, said in a statement. "Our youngest daughter Mabel said last week that she wishes we could put lots of balloons on our house, like they did in the movie ‘Up’, and send it to the West Coast. I agree, that would be perfect."

The Willises paid $12 million for the property in 2014, and have been splitting their time between it and their apartment in Manhattan, which is about an hour’s drive away, according to Ann Cutbill Lenane of Douglas Elliman, one of their listing agents.

Bruce Willis and his wife Emma are listing their country estate near Bedford Corners, N.Y., for $12.95 million.Getty Images for Buena Vista Int

The roughly 9,000-square-foot, Craftsman-style main home has a large living room with views of the surrounding countryside and the nearby Croton Reservoir. There is a playroom, a media room with a video system and a wine cellar. Perched on top of the house is a small octagonal room with views of the area. There are five bedrooms in total.

Three other cottages on the property, accessed via a separate driveway, are used to host guests, house staff or serve as office space. Together, the three homes include an additional seven bedrooms. Mr. Willis said the extra space allows them to "offer out-of-town friends and family the option to spend loads of time with us without feeling they are under-foot."

‘The only reasons we are giving it up is because we are so far from our California family, which is why we have decided to return to the West Coast and make our home there,’ Mr. Willis said in a statementRob Lowell Photography

The Willises also have their own vegetable garden, and have lived a sort-of farm-to-table lifestyle by growing some of their own produce. "I’ll never forget the girls proudly bringing in their first harvest of organic vegetables from our beautiful enclosed garden," Mr. Willis said.

The roughly 9,000-square-foot, Craftsman-style main home has a large living room with views of the surrounding countryside and the nearby Croton Reservoir.Rob Lowell Photography

The family will keep their apartment in the city, Ms. Lenane said. In early 2018, the Willises bought a four-bedroom, roughly 3,000-square-foot apartment on the Upper West Side in a condominium project called One West End, The Wall Street Journal reported. It had been on the market for almost $8 million.

Mr. Willis has appeared in movies such as "Die Hard" and "The Sixth Sense." His current projects include the M. Night Shyamalan film "Glass," in which he stars alongside Samuel L. Jackson and James McAvoy.

Cuomo Pledges $23M For Hudson River Park Project

Gov. Andrew Cuomo’s State of the State speech Tuesday included a $23 million pledge to go toward the completion of Hudson River Park. That nearly-hidden line item in the state budget represents the governor’s mediation efforts in a billionaire-vs.-billionaire feud involving Barry Diller’s 2.7-acre park at Pier 55 on the water near West 14th street (often referred to as Diller Park), Crains reports.

Following the announcement of Diller’s intent to build the park, developer Douglas Durst became a secret force behind a small but powerful opposition group. Durst’s motivation was allegedly the desire to get the larger Hudson River Park project completed. The opposition nearly derailed the project when Diller, tired of lawsuits and fights, threw in the towel in 2017.

Later the same year Cuomo announced a deal that included Durst and the City Club of New York (the organization that he was backing) agreeing to the construction of Pier 55; in exchange, the governor pledged to get the unfinished portion of Hudson River Park funded. Durst was also appointed to the park trust board.

Cuomo announced Tuesday that the state would offer up half of the $46 million the trust says it needs to complete the park: “It was started by Gov. Mario Cuomo and Mayor David Dinkins. Let Gov. Andrew Cuomo and Mayor de Blasio finally finish that park.”

The city is expected to match the state’s contribution, a request that the mayor’s office said it would consider. The park has $900 million worth of capital projects planned, including privately-funded initiatives like Diller’s and a commercial pier to be developed by RXR Realty and Youngwoo & Associates.

[Via Crain’s]

In 2018, NYC Had A Record Breaking 65 Million Tourists—And Its Only Going Rise

NYC & Company, the city’s tourism and marketing agency, announced on Wednesday that the number of visitors to the city rose to a record high of 65.2 million in 2018, as the New York Times first reported. This is a notable jump up from 2017’s 61.4 million and the ninth straight annual increase. Most visitors still come from within the United States, but the number of tourists from China saw an uptick from 1.04 million in 2017 to 1.1 million. The agency was expecting an overall drop in tourism numbers, and particularly from China, due to President Donald Trump’s trade battle with the country and “America First” rhetoric, but the industry continues to thrive in the president’s hometown.

China was the second-leading source of foreign tourists to the city, just ahead of Canada (1 million), and behind Britain (1.24 million), according to the agency’s data. “We embrace diversity and are welcoming to all,” Mayor Bill de Blasio said in a statement. “And the more than 65 million visitors to our city were able to experience that firsthand.”

Fred Dixon, the chief executive of NYC & Company, is expecting another increase in 2019 to at least 67 million visitors. Dixon cited the 50th anniversary of the Stonewall uprising and the WorldPride celebration taking place in June as major events that will draw large crowds.

In addition, Dixon noted the city is entering a new marketing partnership with Mastercard, which will replace American Express as NYC & Company’s preferred method of payment. As the agency’s biggest corporate partnership to date, Mastercard plans to promote special offers throughout the city for the company’s two billion cardholders.

Cheryl Guerin, an executive vice president of Mastercard, told the Times that possible marketing campaigns include dinners cooked by celebrity chefs in iconic NYC venues and early access to annual events in the city, including Restaurant Week and Broadway Week.

As 6sqft previously reported, international visitors play a huge role in the city’s economy, making up 20 percent of total tourists, but account for more than 50 percent of spending, each forking over $2,000 each on average. Tourists spent an estimated $44 billion in 2018.

Amidst the current hotel building boom, there are now about 119,000 available rooms in the city. In 2018, the city sold a record 37.7 million overnight stays, which generated more than $620 million in taxes for the city, according to the Times.

[Via NY Times]

The Monthly Update - January 2019

In the coming months, even more available homes for rent and for sale will be added to an inventory that's already at a record high. So, it’s no surprise that all the year-end data and numbers are pointing to more choices for buyers and renters, and frankly, more price adjustments, days on market and heartaches for sellers and landlords.

We’ll get into the year-end numbers in a second, but let’s talk about the first days of 2019, and what we’ve seen so far. All this talk of a “buyer’s market,” “lower prices,” and “record inventory” is bringing buyers out to look at inventory. A lot of buyers. It’s been busy, actually. Each of the Hoffman Team’s first few open houses of the year had nearly 20 buyers through and as many as three offers in the first day!

Of course, I think there’s going be further normalization of the market, but we also think there could be some bright spots to 2019 for sellers and landlords moving product off the shelf. Interest rates are at a six-month low, and many predict the Fed won’t raise rates much more in order to keep the overall economy more fluid. This will certainly help keep buyers active and in the market. Having a smorgasbord of choices will do that, too. There’s currently enough inventory to last six years of consumption at the current rate, and that will certainly bring buyers into the market and to the negotiating table.

But, the overall YOY numbers aren’t pretty. According to The New York Times,  Manhattan’s up 18 percent, Brooklyn’s up 21 percent, and Queens is up 35 percent in terms of overall inventory from this point last year. And, overall prices are down. According to Compass data, closing were down almost 15 percent in 2018, and the median price dipped below $1 million for the first time since 2015 according to Miller Samuel.

While, yes, these numbers are scary to some and attractive to others, many view them as healthy for the overall housing market in NYC. Overall, I expect 2019 to be a good balance between buyer and seller, renter and landlord, with both benefiting from a normalization of our dynamic, evolving market  

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History Lesson/Fun Fact:

January is named after the Roman god Janus, who was always shown as having two heads. He looked back to the last year and forward to the new one.

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Local Events 

Carmen Opera
January 9 - Feb. 8, 2019

This New Year, the infamous opera Carmen is coming to the Metropolitan Opera House. A dramatic tale about a hot-tempered woman who seduces a corporal, the opera is heralded as a classic. For ticket and showing information, click here. 

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Martin Luther King, Jr. Commemorative March

January 21, 2019 (10 a.m. to 2 p.m.)

Celebrate the life and work of MLK, Jr. by joining 8th graders from Manhattan Country School on the Martin Luther King, Jr. Commemorative March from Eleanor Roosevelt Memorial to their Upper West Side school, with stops along the way. Click here for more info. 

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NYC Restaurant Week

January 21 - Feb. 8, 2019

This month, the bi-annual Restaurant Week returns with deals on 2-course lunches and 3-course dinners at 380+ restaurants. Note that Saturdays are excluded, and Sundays are only included for certain participants. For restaurant and reservation information, click here.

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Best of Brooklyn Food & Beer Festival 

January 26, 2019

Explore new bites and beverages at the Brooklyn Food & Beer Festival, which offers unlimited Brooklyn craft beer tastings, food for sale from 20 Brooklyn Chefs, and music from curated DJs. Hosted at Industry City, you can purchase tickets here. 

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Tips, Tricks & Real Estate News

The Smartest Money Resolutions You Can Make in the New Year

Resolutions aren't just for healthy diets and gym memberships. Organizing your finances may be intimidating, but setting clearly defined goals will help ensure your financial success. Get a head start with this checklist!

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The Most Expensive New York Neighborhoods in 2018

The list of the top 50 most expensive New York City neighborhoods in 2018 has just been released. Unsurprisingly, Manhattan neighborhoods effortlessly steal the top three spots. Find the full list of neighborhoods as well as the supporting market data in this article by Curbed.

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AirBnB’s 2019 Must-Visit List: The New Hot Spots 

Looking for a new destination for your next getaway? Break the mold this season by traveling to one of the newest hotspots uncovered by AirBnB. Check out the complete list of trendy destinations here.

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13 Real Estate Pros Share Advice for Industry Newbies

Whether you're considering a career in real estate or simply starting your own business, making a name for yourself takes time and practice. In this article by Forbes, 13 real estate pros, including two of our very own Compass agents, lend their advice for building a successful empire.  

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Maggie Gyllenhaal and Peter Sarsgaard Put Park Slope Townhouse On The Market For $4.6M

Nearly thirteen years ago, Maggie Gyllenhaal and Peter Sarsgaard spent $1.91 million on a Park Slope townhouse at 36 Sterling Place. Though their two daughters grew up and went to the exclusive St. Ann’s school in the friendly neighborhood, they now attend school elsewhere, so the couple has decided to list the brownstone in favor of being “able to walk [the children] to school,” Gyllenhaal told the Wall Street Journal. In addition to convenience, however, they’ll also be looking at a nice profit, considering the home has hit the market for $4,599,000.

The couple moved to the house when Gyllenhaal was pregnant with their older daughter. “We had been living in a rented loft in Manhattan, and we were looking to make a home,” she told the Post. At the time, she told The Post of her move:

I love living in New York. But the West Village became terrible. Paparazzi waiting for me, following me. Thirty fotogs camped outside the door. It’s scary. Especially since I now have a baby. I have to hope Brooklyn will be quieter, safer. Look, I know I should just be grateful for all the good that’s happened to me. And I am. But I’m also getting scared.

After moving in, they hired favorite Brooklyn architect Elizabeth Roberts, who preserved the 3,600-square-foot home’s historic 1880s bones but added modern features such as her signature rear glass doors off the kitchen. This room was outfitted with reclaimed chestnut floors, teak counters, a six-burner gas stove, and a Heath ceramic Rais fireplace.

The adjacent 55-foot-deep, south-facing garden boasts an outdoor bathtub and shower. Sarsgaard, who according to his wife is “a knowledgeable and excellent gardener,” landscaped the yard with plantings including cherry trees and a meyer lemon tree.

There’s another Rais fireplace in the parlor-floor living room, along with a drop-down home theater projector.

The rear of the parlor floor has been outfitted as a music room for the girls.

Upstairs, there’s another wood-burning fireplace in the master bedroom, which connects to a home office.

The master bath features a wooden bathtub that the couple ordered from Scotland.

The two additional bedrooms are on the top floor, connected by a shared office.

[Listing: 36 Sterling Place by Debbie Korb of Sotheby’s International Realty]

[Via WSJ]

Illuminated Garment District Installation ‘Iceberg’ Wants You To Think About Climate Change

Earlier this week The Garment District Alliance unveiled “Iceberg,” an immersive art installation on the Broadway pedestrian plazas along Broadway from West 37th to 38th Streets. Created by ATOMIC3 & Appareil Architecture, in collaboration with Jean-Sébastien Côté and Philippe Jean, the installation allows the public to generate a light and sound show as they pass through the metal arches of the installation, which react to the pace of each participant by turning different colors. But there’s more to it than pretty lights—the installation also carries an environmental message.

The arches are divided into three tunnels representing different stages of the iceberg’s life, from its calving into Arctic waters to its final melting near the warm waters of a coast inhabited by humans. Each of the metallic arches produces a distinct sound. Arranged as a tunnel, the arches invite visitors to enter, listen to and play the giant “organ.” Human activity “warms up” the ice monuments and transforms their original nature—just like climate change.

“This is an astonishing installation that transforms Broadway into a gleaming, interactive experience for pedestrians, while reinforcing an important environmental message,” said Barbara A. Blair, president of the Garment District Alliance, in a statement. “Iceberg is a thought-provoking yet playful piece that serves as a profound reminder of the seriousness of climate change. As a neighborhood that is committed to showcasing talented artists both locally and from around the world, we are proud to welcome  to the Garment District and we encourage local New Yorkers and travelers to visit and fully immerse themselves in this experience.”

A version of “Iceberg” was first presented as part of the 3rd edition of Luminothérapie at the Place des Festivals in the Quartier des Spectacles in Montreal in 2012. “Iceberg” is free and part of the year-round public art program, Garment District on the Plazas. It will be open to the public through February 24th.

All photos courtesy of Alex Ayer/Diversity Pics

13 Contracts Signed Last Week At $4M+ (Jan. 7-13, 2019)

LUXURY MARKET REPORT 2019

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

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January 7-13, 2019

13 Contracts Signed

Thirteen contracts were signed last week at $4 million and above, one more than during the same period in 2018. Condos outsold co-ops, 7 to 3, and 3 townhouses were in the mix.

The No.1 contract was 95A at 432 Park Avenue, asking $41.25 million. The developers, Harry Macklowe and CIM, also scored the top sale on the same floor in the final week of December by closing 95B at $30,191,920, a 26% discount off the asking price. Apartment 95A is a corner unit with 3,952 square feet including 3 bedrooms, a library, and 3.5 bathrooms. It features a 29’ x 29’ living room, an eat-in kitchen, and a 30-foot master suite. The unit has spectacular Central Park, Hudson and East River views. The building is 96 stories high, a concrete-and-glass edifice designed by Rafael Vinoly that can be seen from almost anywhere in the 5 boroughs. Amenities include a fitness center, a 75-foot swimming pool, private dining room, parking, a garden, and a children’s playroom.

The No. 2 contract was 60B at 157 West 57th Street, asking $28.9 million and sold by the developer Extell. The unit reportedly went to contract in the $22-million range. The 3-bedroom, 3.5-bathroom unit has 4,193 square feet including a 43’ x 30’ living room, an over 1000-square-foot master suite, and an entrance gallery—all with Central Park views. 157 West 57th Street was designed by Pritzker Prize-winning architect Christian de Portzamparc, with interiors by Thomas Juul-Hansen. The 90-story, 90-unit condo was built above the 5-star Park Hyatt Hotel, and has a separate entrance for its 210 rooms. Amenities include the use of the hotel’s fitness center and pool, and the condo has its own a private dining room, a library lounge, performance space, and a garage.

J.Lo & A-Rod Put 432 Park Apartment On The Market For $17.5M

Less than a year after dropping $15.3 million on a trophy pad at 432 Park Avenue, J-Rod (J.Lo + A-Rod) has decided to put the sprawling, apartment back on the market. First spotted by the Post, the place is now asking $17.5 million. The news comes just five months after the couple put their considerably smaller apartment at 15 Central Park West on the rental market for $11,500 a month. Why are they selling so soon? Though three bedrooms and 4,000 square feet sounds large to most, a source told the Post that “They love the building, but when their kids are all together, it’s too small. They need something bigger for the family.”

The 36th-floor condo has a private elevator landing that opens to an elegant gallery.

The corner living/dining room is 29′ x 29′ and offers both north and east exposures with Central Park and skyline views. Though the furnishings aren’t included in the listing price, the Post hears that they can be purchased if a buyer is interested.

A custom kitchen has a center island, marble floors and counters, white lacquer and oak cabinets, and stainless steel Miele appliances.

The corner master suite has a dressing area, two luxurious bathrooms, and a full hallway of closets that leads to a media room. Both additional bedrooms also have en-suite baths.

The Post’s source said that Jennifer Lopez and Alex Rodriguez–who each have two children from previous marriages–are hoping to find their larger home downtown. J.Lo is also selling her duplex penthouse at the Whitman, a condo conversion at 21 East 26th Street, for $26,950,000. The singer-actress first bought the Nomad four-bedroom in 2014 for just over $20 million.

[Via NYP]

280 Rector Place, Unit 6H

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280 Rector Place, Unit 6H

BATTERY PARK CITY, MANHATTAN

1 Bed  |  1 Bath  |  Condo | Doorman

Offered At $668,000

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This is it! Your chance to own a fantastic, fully renovated one bedroom apartment in Battery Park City's best boutique condominium. A stand out, 6H has been fully renovated from top to bottom with no detail left unplanned. Pristine cherry hardwood floors perfectly compliment brand new white cabinets which have a slow closing feature and abundant space inside. The pass-through kitchen has a dark premium counters and new stainless steel appliances. A king sized bedroom features deep closets which have also been renovated to maximize storage capability. A spa-like marble bathroom and large hallway closet complete this perfectly thought out apartment. The Soundings is the best boutique condo building in Battery Park City. From the friendly doorman, to live in super, gym, roof deck, lounge, children's playroom, dance studio, storage, bike storage, and attached garage – your every need is fulfilled. Perfectly situated in Battery Park City, you are a short walk from, grocery stores (Gristedes, Battery Place Market, Whole Foods), restaurants (Mir-a-mar, El Vez, Parm, PJ Clarkes, Hudson Eats, Inatteso, Blue Smoke, Pick-a-Bagel), parks, the riverfront esplanade, entertainment (Regal Cinemas), and shopping (Bed Bath and Beyond, Barnes and Noble, and the Brookfield Mall). Getting around couldn't be easier – take advantage of the free Downtown connection, M20, M9, and all trains close by! Contact Andrew today for your private viewing.

20K+ New Apartments Are Coming To New York This Year

New York will see more than 20,000 new apartments open their doors in 2019, and only a small amount are likely to find buyers or renters by the end of the year.

Most of the new units will be in luxury towers, and it will take more than six years to sell all of the new development in Manhattan alone, according to the New York Times. The pace of sales has already slowed down leading up to the new year, with homes asking $4 million or more taking 447 days on average to go into contract in 2018, compared to 172 days in 2013.

The roughly 20,000 units becoming available this year is about the same number as last year and down from a peak of 25,000 in 2017. However, it is still higher than 2012 to 2015 when an average of 14,000 units were finished each year and demand was outpacing supply.

The most openings will be in Brooklyn, which should see 13,272 new apartments across 421 buildings. Manhattan is next with 6,342 units in 79 buildings, followed by Queens with 6,302 units in 154 buildings, the Bronx with 2,471 units and Staten Island with 126 units.

Sales inventory is already high in Manhattan, Brooklyn and Queens. As of November, it was up 18 percent in Manhattan year over year, 21 percent in Brooklyn and 35 percent in Queens.

Some of the larger projects on their way this year include One Manhattan Square in Two Bridges, 15 Hudson Yards  on the Far West Side, 420 Kent in Williamsburg and 5Pointz in Long Island City. [NYT] – Eddie Small

345 East 86th Street, Unit 5E

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345 East 86th Street, Unit 5E

UPPER EAST SIDE, MANHATTAN

2 Bed  |  1 Bath  |  Co-op | Doorman

Offered At $850,000

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This beautifully updated dual-exposure two-bedroom, one-bathroom home offers roomy living spaces and ample storage in a full-service Upper East Side co-op, just steps away from the Q train.

Rows of closets, including a large walk-in, greet you in this roomy home's gracious foyer, nodding to the great storage space and built-ins to be found throughout. Gleaming Brazilian cherry hardwood floors throughout, and handsome millwork set a refined tone in the large living room, and the kitchen makes cooking and entertaining effortless with designer cabinetry, granite countertops and stainless steel appliances, including a gas range, microwave and built-in dishwasher. A spacious, quiet north-facing master bedroom includes two closets, with room for a king-size bedroom set, a desk and more. The south-facing bedroom features lovely tree-top views and also has two closets. A full bathroom features floor-to-ceiling modern tile, and with board approval, the walk-in closet can be converted into a half bath or easily accommodate a washer/dryer.

345 East 86th Street is a postwar co-op offering full-time doorman service, live-in superintendent, laundry facilities and a discounted on-site garage. Co-op rules permit pets, in-unit washer-dryers and pieds-a-terre with board approval. Seventy-five percent financing allowed.

Nestled in the heart of the Upper East Side's Yorkville neighborhood, this fantastic location is surrounded by great parks, shopping, dining and nightlife on all sides. Central Park and riverfront Carl Schurz Park are minutes away. Vibrant 86th Street is lined with great shops and cinemas with both Whole Foods and Fairway Market nearby. Transportation couldn't be easier with Q and 4/5/6 trains and fantastic bus service just outside your door.

Emily Blunt and John Krasinski Buy $11M Full-Floor Unit In Brooklyn’s New Celeb Hotspot

Just weeks after news broke that Matt Damon set a borough record when he paid $16.7 million for a penthouse in Brooklyn Heights’ new condo The Standish, the Wall Street Journal now reports that Emily Blunt and John Krasinski are also moving into the building. The couple dropped $11 million on two adjacent units, giving them the entire eighth floor. Although their transaction doesn’t set any records, it’s still considered one of the largest ever in Brooklyn. Previously, Blunt and Krasinski owned a gorgeous, historic Park Slope townhouse, but they sold it for $6.5 million last year because they weren’t able to spend enough time there.

When they put their Park Slope home on the market last September, the couple said it was because work kept them away too much and “the house is so special—someone who can spend every night there should have it.” We’re not sure what makes an $11 million home lessspecial, but sources tell the Journal that Blunt and Krasinski purchased the combined units through a trust last year. According to city property records, units 8A and 8B sold together in June for 11,000,350 to “The River Trust.”

The listings weren’t public, so there are no details on the unit, but the building offers concierge services, a fitness center, children’s playroom, a bike room, and a 24-hour doorman. As 6sqft previously reported, “Designed by Frank S. Lowe and built in 1903, The Standish is a 12-story Beaux-Arts building that originally served as a 122-key hotel. It was converted in 2007 into 90 rental units and then in 2015, after DDG and Westbrook Partners acquired the property for $60 million, the building was converted into 29 condo apartments.”

As the Journal notes, new neighbors Emily Blunt and Matt Damon starred together in the 2011 film “The Adjustment Bureau.”

[Via WSJ]

250 West 21st Street, Unit 5

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250 West 21st Street, Unit 5

CHELSEA, MANHATTAN

1 Bed  |  1 Bath  |  Co-op

Offered At $699,000

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Welcome home to this unique and character laden 1 bedroom in prime Chelsea. This gorgeous apartment has been lovingly maintained by its current owners. Step into a spacious living room with decorative fireplace and 11 ft. ceiling heights. Dark hardwood floors and crown moldings add accents, and a built in dining banquet with storage creates a great breakfast nook. Both the living room and windowed kitchen are bathed in southern light. The kitchen has great storage in custom designed solid maple cabinetry, and features a wolf range, and imported hand made backsplash tiles. A Microwave doubles as a convection oven. The bedroom is separated by a hallway and has double exposures through three windows facing both east and south and overlooking gardens. There is also a large built in customized closet with a lovely window seat, and room for a home office area. The bright bathroom is quite large with an oversized soaking tub and clean white tiling.This is a small Coop with a laundry room in the basement, a super, and voice intercom system. The building is extremely well maintained and quiet, and is on one of Chelsea's best blocks. Close to the F, 1, C, and E trains, near some of the neighborhood's best restaurants, and close to Trader Joe's and Whole Foods. Please note this unit is a two flight walk up.

12 Contract Signed Last Week At $4M+

LUXURY MARKET REPORT 2019

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

12 Contracts Signed

Twelve contracts were signed last week at $4 million and above, the same total as last year during the same week. Interestingly, the top 2 contracts were signed on properties on the same street.

The No. 1 contract was PH11A at 90 Morton Street, asking $40 million. PH11A is a 5,830-square-foot duplex with 6 bedrooms and 6.5 bathrooms, plus 2 terraces totaling 2,029 square feet. It is in a former printing plant that is being converted into a 12-story, 28-unit condo that started offering apartments off of floorplans in the Fall of 2017. Amenities include a concierge, a covered driveway, a fitness center, a 64-foot pool, residents’ lounge, children’s playroom, and a rooftop terrace with an outdoor kitchen.

The No. 2 contract was a townhouse at 16 Morton Street, asking $15.995 million, reduced from $17.5 million when it went on the market last April. This 3-story, 25-foot-wide house has 6,000 square feet, and is configured as a commercial showroom with 2 floors of office space above it. The house also has a 1-car garage. The seller was fashion designer Cynthia Rowley, who purchased the house for $10,995,000 in May 2014 and then renovated it.

Cuomo Calls For Last-Minute Halt Ff L Train Shutdown

Knight in shining armor or kink in the chain? In an unexpected, last-minute announcement on Thursday, Gov. Andrew Cuomo announced that he is halting the 15-month L train shutdownin April, calling for a new tunnel design instead that would coincide with night and weekend work for 15 to 20 months. The news comes just a few weeks after the governor toured the Hurricane Sandy-damaged Canarsie Tunnel with engineering experts from Cornell and Columbia Universities. Though he said at the time he was “confident it cannot be done any other way and it cannot be done faster than the MTA is doing it,” Cuomo today threw a curveball saying he and the MTA have agreed on a new design that has never before been used in the U.S. and will mean that it “will not be necessary to close the L Train tunnel at all.”

Plans for the L train shutdown first surfaced in January 2016 with two options: a partial three-year shutdown or a full 18-month shutdown. The latter was chosen (and later shortened to 15 months with the addition of some preliminary weekend closures) because a partial shutdown would have functioned with only night and weekend work, which wouldn’t have made sense with the amount of work needed. Plus, building a third tube would have been a time- and cost-prohibitive option.

In these three years, the city has conducted numerous meetings and studies regarding alternative transit options, and real estate prices along the subway line have suffered–all of which is making some question Cuomo’s motives.

The new plan involves implementing a new racking system that suspends cables on one side of the tunnel, leaving the other side available for access. Currently, the cables are within the concrete bench walls, a system created 100 years ago when the tunnels were first constructed.

Instead of demolishing the bench walls to remove the old cables, the new plan leaves the cables there, which would reduce the amount of construction work needed, according to Mary Boyce, the Dean of Engineering at Columbia University. Any unstable bench walls will be removed and weakened ones will be reinforced with a polymer wrap. Boyce told reporters that the new design achieves all functional outcomes as the previous plan, but reduces the amount of work needed.

During a press conference today, Cuomo said the aforementioned engineers have proposed a new tunnel design that “has not been used in the United States before to the best of our knowledge.” The governor said the MTA believes the plan is feasible, which means “it will not be necessary to close the L Train tunnel at all,” though “there would need to be some night and weekend closures of one tube.”

Acting MTA Chairman Fernando Ferrer said on Thursday the agency plans to conduct all repairs on nights and weekends and will close one tube at a time. The L-train will then run with 15 and 20 minutes delays, which Ferrer said is “no different from current overnight service.” The transit agency said it expects the work to take somewhere between 15 and 20 months.

Plus, the MTA still plans to add extra service on the G, M, and 7 lines during the repair work. Ferrer called the new project “less invasive, more efficient, and a huge win for our transit system and our customers so we can all celebrate and be thankful.”

Bubbled Condo Buildings Tops Out On The High Line

The smaller tower in Related Companies’ High Line-straddling project has topped out. The two matching condo towers at 555 West 18th Street, one on either side of the elevated park, were designed by Heatherwick Studio as their first residential project in Manhattan. The duo has become know as the “bubble towers” for their bulging bay windows, that not only give the appearance of a building covered in bubble wrap but provide for interesting views of the park and Hudson River.

The towers sport identical and striking facades, with rows of bulging bay windows framed by brick, inspired by the classic warehouses West Chelsea is known for. Studio head Thomas Heatherwick says that the design of the windows reconceives the residential bay window “as a three-dimensional sculpted piece of glazing.”

The two buildings at 555 West 18th, a 10-story and 21-story tower, will hold 180 one- to four-bedroom residences between them, with views of the Hudson River. They are a part of the Related’s Hudson Residences, which includes another building on West 22nd Street designed by Robert A.M. Stern.

Heatherwick’s bubble-wrap facade joins a number of other innovative designs along the High Line. Zaha Hadid’s futuristic design at 520 West 28th Street is completed, Bjarke Ingels’ angled condo towers at 76 11th Avenue, known as XI, is rising, and designs by Jean Nouvel, Jeanne Gang, and Shigeru Ban are all coming to the area as well.

Heatherwick’s other designs in New York include The Vessel, a climbable honeycomb-like structure in Hudson Yards, near the Northern end of the High Line, and a long-debated offshore park at Pier 55.

201 East 21st Street, Unit 11J

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201 East 21st Street, Unit 11J

GRAMERCY PARK, MANHATTAN

1 Bed  |  1 Bath  |  Co-op

Offered At $649,000

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Don't miss this perfect opportunity to craft your ideal dream home in one of Gramercy's most sought-after co-ops.

With an expansive floor plan, this J-line layout is one of the most highly prized at Quaker Ridge. Set at the rear of the building, you'll enjoy pin-drop quiet solitude, while the high-floor position and wide east-facing windows deliver ample light and views the skim over the neighboring buildings. 

Currently configured as a one-bedroom home with three large closets — including a massive walk-in — the opportunities for customization are endless. Open the kitchen up with a large breakfast bar to create a true open-concept living environment; add California Closet systems to accommodate wardrobe needs; or update the bathroom to create a spa-like oasis.

Quaker Ridge is a revered postwar co-op known for its stellar financials and low maintenance. Residents enjoy full-time doorman service and live-in superintendent, modern laundry facilities, storage bins, bike storage and a residents-only parking garage with direct access to the building. Quaker Ridge allows co-purchasing and pets, but does not permit guarantors or pieds-à-terre. Please note, the monthly maintenance includes an energy charge of $79.30 which changes quarterly.

Set in the heart of Gramercy — with immediate access to the Flatiron District, NoMad, Union Square and the East Village — fantastic shopping, dining and nightlife are all within easy reach. Enjoy German food and world-famous Christmas decorations at Rolf's or feast on Italian favorites at historic Pete's Tavern. Union Square and Madison Square Park offer outdoor space, phenomenal greenmarkets and year-round events, and transportation is superb with 4/5/6, N/Q/R/W and L trains all nearby.

Sixteen Contracts Signed Last Week At $4+ Million

LUXURY MARKET REPORT 2018

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

December 10-16, 2018

16 Contracts Signed

Sixteen contracts were signed last week at $4 million and above, the weakest performance for mid-December since 2011, when 13 contracts were signed. Condos outsold co-ops, 11 to 3, and 2 townhouses were in the mix. Five properties went to contract asking above $10 million.

Stat Geek Alert: For the 3rd time this year, properties averaged more than 700 days on the market. The other 2 weeks: one in January and one in October.

The No.1 contract was a townhouse at 9 East 84th Street, asking $20.25 million. This 25-foot-wide limestone house has 12,500 square feet including 7 bedrooms and 9 bathrooms. It suffered extensive damage in March 2017, when a fire ripped through the neighboring townhouse at 7 East 84th Street. The house was repaired, and is being delivered as a white box with new mechanical systems and an elevator. The owner paid $15.35 million in April 2007.

The No. 2 contract was PH52B at 56 Leonard, asking $17.75 million, raised from $15 million when it was first offered off of floorplans in 2013. The unit has 3,709 square feet including 4 bedrooms and 4.5 bathrooms, plus a balcony off the master suite. It features 14-foot-high ceilings, and has breathtaking city and Hudson River views. 56 Leonard is a 60-story, 145-unit condo designed like a glass obelisk by Pritzker Prize-winning architects Herzog & de Meuron. It has 17,000 square feet of amenities including a 75-foot pool, indoor/outdoor theaters, landscaped sundeck, fitness center, sauna, lounge, and a children’s playroom.

View fullsize

Total Weekly Asking Price Sales Volume: $132,615,000
Average Asking Price: $8,288,438
Median Asking Price: $5,627,500
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 728
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 14 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES