NBC News Anchor Lester Holt Lists Classy Nomad Apartment For $6.6M

There’s no “debating” that NBC Nightly News and Dateline NBC anchor Lester Holt has good taste in real estate, as evidenced by the listing photos for his classy Nomad apartment. The fact that his wife, Carol Hagen-Holt, is one of the listing brokers probably doesn’t hurt either. The Observer first noticed that the couple put the three-bedroom spread at 225 Fifth Avenue on the market for $6.6 million, a far cry from the $3.3 million they bought it for in 2007. It boasts views of Madison Square Park and the Flatiron Building, a private terrace, and a sumptuous mix of furnishings and decor.

Throughout the 2,168-square-foot residence are 11-foot ceilings and oversized windows. The main living space is open to the kitchen, which has bluestone counters, an eat-in island, oak cabinetry, and high-end appliances including a built-in espresso maker.

The master suite has custom closets and an en-suite Calcutta marble bathroom.

The master and two other bedrooms all open to the 48-foot-long terrace that overlooks the building’s courtyard garden. (That’s Holt’s dog seen in the photo).

The building, known as the Grand Madison, is a former showroom that was converted to 109 condos in 2004 (it was also once home to Chelsea Clinton). Amenities include a roof deck and health club.

Want A 100-Year-Old ‘Castle’ For $48M?..... Move To New Jersey

One of the most expensive residential listings in New Jersey recently hit the market at an asking price of $48 million. The 100-year-old, nearly 50,000-square-foot mansion sits on 12.5 acres in Mahwah with views of the Ramapo Mountains (h/t Wall Street Journal). The enormous house, originally built in 1907 by George Crocker, son of railroad tycoon Charles Crocker, was modeled after a Jacobean-style English castle and today boasts a 45-foot-tall organ, 29 bathrooms, 21 bedrooms, and two full kitchens, one equipped to serve an impressive 250 meals at a time.

The estate’s owner, Ilija Pavlovic, bought it for $8.8 million in 2008 from developer Darlington Associates, who had built multiple residential communities surrounding the mansion. Pavlovic told the WSJ that he was interested in the “challenge” of both preserving the historic home while also restoring it to meet 21st-century standards.

He preserved many of the original elements, like the elaborate wooden carvings and the great hall organ (the only known 1906 Aeolian Player Pipe Organs in the U.S.). He also employed Italian woodcarvers, whose previous works included the Italian Parliament as well as NYC’s Ritz-Carlton and Waldorf Astoria.

To modernize the home, though, Pavlovic replaced all the mechanical systems, redid all the bathrooms, installed 476 new windows, and replaced the slate roof. He also had much of the furniture custom made, which is included in the sales price.

He also added a spa with an indoor lap pool, gym, massage room, beauty salon, and theater room.

In addition, there’s a wine cellar, cigar room, tennis court, billiard room, and an outdoor pool with a cabana, and eight-car garage.

Remarkably, Pavlovic told the WSJ that he doesn’t live at the residence full time, as his primary residence is nearby. But he has stayed at the home with his family to host what one can assume to be some pretty epic events.

[Listing: Darlington, New York Metro Mansion by Christie’s International Real Estate]

[Via WSJ]

Just Listed 7 New Properties. Take A Look!

250 West 90th Street, Unit 17K

$6,000,000  |  4 BD  |  3.5 BA  |   2,800 SF

1485 5th Avenue, Unit 18A/19A

$3,495,000  |  4 BD  |  2.5 BA  |   2,207 SF

11 East 29th Street, Unit 48C

$2,300,000  |  1 BD  |  1.5 BA  |  983 SF

432 West 52nd Street, Unit PH7A

$1,550,000  |  2 BD  |  2 BA  |  1,161 SF

201 East 21st Street, Unit 16C

$1,295,000  |  2 BD  |  1 BA

323 West 43rd Street, Unit 1R

$850,000  |  2 BD  |  2 BA  |  900 SF

2360 Amsterdam Avenue, Unit 3C

$800,000  |  2 BD  |  2 BA  |  987 SF

Construction Starts Next Month For Midtown’s 1,401-foot One Vanderbilt

One of the city’s most pivotal new office towers is approaching its latest milestone. This afternoon, developer SL Green announced that One Vanderbilt, the supertall currently under construction directly adjacent to Grand Central Terminal, will begin its vertical ascent in early May. According to a press release, the 1,401-foot skyscraper’s construction manager, AECOM Tishman, has secured the procurement of more than 25,000 tons of domestically-fabricated structural steel, in addition to a New Building Permit from the New York City Department of Buildings.

Designed by Kohn Pedersen Fox (KPF) Associates, the massive glass tower will occupy an entire city block bounded by Madison and Vanderbilt Avenues, and East 43rd and East 42nd Streets. The tower officially broke ground in October of 2016, and in February it had its 4,200-cubic-yard concrete foundation poured—the largest single pour recorded in NYC history. SL Green shares that the steel frame will be erected in July.

“This series of milestones represents the most tangible sign yet that a new era in Midtown East is close at hand,” said Marc Holliday, SL Green’s Chief Executive Officer in a statement. “Not only will Manhattan’s skyline soon be getting a spectacular new addition utilizing 100 percent union labor, but the experience of going to work in Midtown East will improve dramatically. Along with our joint venture partners—the National Pension Service of Korea and Hines—we’re very much looking forward to beginning the next phase of this progress that will shape New York’s future.”

Indeed, the tower has been pegged as the catalyst for a Midtown East renaissance, expected to bring workers and cutting-edge companies back to the aging neighborhood. As shared with 6sqft in a recent interview, the architects at KPF sought to “redefine and elevate the workplace model” of Midtown Manhattan. As such, the 58 floors will forgo a traditional office plan, instead favoring column-free floor plates and ceiling heights that stretch upwards of 20 feet in parts of the tower. Workers who come to the office will also enjoy an exclusive “amenity floor” and an outdoor terrace, while the general public will benefit from $220 million worth of public transit and infrastructure upgrades, including new underground connections to the subway and Grand Central and a 15,000-square-foot pedestrian plaza—items that were negotiated by SL Green with the city in order to get the supertall erected.

Construction is expected to wrap in 2020.

Construction images by Max Touhey courtesy of SL Green

City Will Spend $100M On A New East River Greenway

Mayor Bill de Blasio announced Tuesday that the city would develop the gap in the Manhattan waterfront greenway that runs between 41st and 61st Streets along the East River. The city has pledged to spend $100 million on closing the largest unfinished space in the 32-mile loop, including a new esplanade, with an additional $5 million to be spent on filling smaller gaps in East Harlem and Inwood. “The Hudson River Greenway has vastly improved quality of life on the West Side, and we want families in every corner in the borough to have that same access to bike, walk and play along the water,” said the mayor in a statement. “This is the first of many big investments we’ll make as we bring the full Greenway to reality.”

Construction on the scruffy undeveloped gap along the highway from 53rd to 61st Street–an annoyance to cyclists, runners and walkers who traverse the scenic path that runs along the East River–will begin in 2019 and is expected to continue for three years. The new path will rest on pilings about 15 feet off the shoreline on a boardwalk, similar to the West Side’s waterfront path.

The aforementioned esplanade will eventually connect the bike paths that ring the city’s perimeter, making it easier for cyclists to circle Manhattan without veering off into city streets along the East Side. “A longer greenway will also help us meet the surging demand in daily cycling,” said Polly Trottenberg, the city’s transportation commissioner.

The last big expansion of this kind happened in 2010 in the form of an 11-mile pathway that opened between 91st and 81st Streets along the Hudson River on the city’s West Side, which, according to the Transportation Department, is now used by over 7,000 cyclists every day.

[Via NYTimes]

130 East 18th Street, Unit 6D

130 East 18th Street, Unit 6D

GRAMERCY, MANHATTAN

Offered At $850,000

1 Bed  |  1 Bath  |  Co-op  |  Roof Deck  |  24/7 Doorman

Maintenance: $1,020/mo.

 

Enjoy private outdoor space, wide-open views and spacious living spaces in this gorgeous Gramercy Park one-bedroom, one-bathroom co-op home.

The well-planned layout welcomes you home with a gracious foyer lined with abundant closet space. Just ahead, the spacious great room stretches 20 feet long, providing plenty of room for comfortable living and dining spaces, ending in the lovely private balcony. On this north-facing perch, you're surrounded by stunning views of Gramercy Park's historic townhouses and tree-lined streets. The bedroom and bathroom flank another roomy closet, and the galley kitchen offers great cabinet space and appliances. Hardwood floors and great light make this charming home simply irresistible.

The Gramercy Park Co-op is a well-established and impeccably maintained luxury doorman building with a newly renovated lobby and common area. The pet friendly building features a full-time doorman, live-in superintendent, laundry room, garage, bike room, planted roof deck and ground-floor garden. Set on a gorgeous tree-lined block in the heart of Gramercy Park, the location offers immediate access to the city's buzziest neighborhoods, including Union Square, the Flatiron District and the East Village. The neighborhood is flanked by iconic parks with fantastic restaurants, shopping, entertainment and cultural venues lining the nearby streets. Union Square offers access to the N/Q/R/W, 4/5/6 and L trains, placing the rest of the city mere minutes away.

How Much Do Amenities Impact Rent Prices In NYC?

When looking for that perfect city abode, apartment hunters often create a list of must-have amenities that also fit within a budget. Now, thanks to Priceonomics and Renthop, you can determine which apartment features have the greatest impact on the overall rent. While the number of bedrooms and bathrooms drive up rent prices the most, the research found that having a doorman, an elevator, available parking and/or laundry-in-building most likely would increase the total rent. In a closer look at NYC, the data shows having a doorman creates the biggest increase of rent in the city, adding about $260 each month.

Priceonomics used thousands of apartment listings across major U.S. cities and looked at monthly rent, the number of bedrooms and bathrooms, and the access of different amenities. It’s no surprise New York tops the list with the most expensive median rent out of all other major cities listed. Amenities examined included: a furnished apartment, pets allowed, a washer/dryer, laundry-in-building, private outdoor space, shared outdoor space, a doorman, an elevator, designated parking and a fitness center.Since each part of New York is distinct, the data focused on 50 different neighborhoods and then plotted the ten most expensive and the ten least expensive areas to find what is deemed most important for each. For more expensive apartments, there is a strong correlation between laundry in the unit and the presence of a doorman. Other important factors in these homes include allowing pets and access to a fitness center. In the least expensive neighborhoods, the same features remain important, but the degree of correlation differs.Overall, if disregarding the number of bedrooms and bathrooms, having a doorman has the greatest impact on price. While impacting monthly rent by $260 seems hefty, this feature usually indicates a nicer building in general. Having an elevator adds roughly $120, a fitness center adds nearly $90 and laundry-in-unit contributes about $80 more in rent each month.

Ron Howard Lists Central Park West Apt. For $12.5M

For $12.5 million, you can live in Oscar-winning director Ron Howard’s classic Upper West Side co-op. He and wife Cheryl told the Wall Street Journal that they decided to list the three-bedroom spread at the iconic Eldorado–which they bought in 2004 for $5.575 million–to move farther downtown, closer to Howard’s editing and post-production facilities. Not only does the home occupy the 26th floor of the Art Deco building’s north tower, but it has a private elevator landing, 50 feet of direct Central Park frontage, and a flexible layout perfect for entertaining that the Howards implemented as part of a complete renovation.

The elevator landing leads to a wood-paneled entry foyer, which then opens to the formal dining room.

The living room has a wood-burning fireplace and is connected to a bright library with plenty of built-in shelving (check out the Emmy on the desk–Howard has won two, for his work on “A Beautiful Mind” and “Inferno”).

In the sleek kitchen you’ll find stainless steel countertops, custom cabinetry with loads of storage, two dishwashers, two fridges, and a wine fridge.

The corner master suite has an abundance of closet space and an en-suite bathroom with heated floors.

In addition to claiming Ron Howard as the former owner of your apartment, whomever picks up the pad will also be neighbors with Meredith Viera. Past residents of the celeb-favorite include Bruce Willis, Alec Baldwin, Moby, and Bono.

Ron and Cheryl also may have decided to move since their children are grown and they travel frequently to LA, reasons they cited for selling their $27.5 million lakeside estate in the NYC suburbs a few years back.

City Spends $7M/Year On 15,000 Rarely-Used Alarm Boxes

To date, close to 700 LinkNYC Wifi kiosks have been installed throughout the five boroughs. Among their features are an app that lets users make free calls anywhere in the U.S., as well as a dedicated red 911 button for emergencies. Coupled with the fact that most New Yorkers have cell phones on them, it seems that the city’s 14,813 red alarm boxes serve basically no purpose anymore. In fact, as Crain’s tells us, last year, the boxes were used only 11,440 times to call the FDNY, which is an average of less than once per box. And, of these calls, only 13 percent were for actual emergencies and just 1.5 percent for fires. But yet, the city spends a whopping $6.8 million annually paying electricians to repair the call boxes and others to paint over graffiti.

There hasn’t been a lack of effort to discontinue the alarm boxes; both the Giuliani and Bloomberg administrations tried, but were sued by a deaf-rights group. In 2011, a judge said the structures must remain until an appropriate replacement was found for deaf New Yorkers. But according to the city’s official Link NYC page, “All of Link’s physical kiosk controls are marked with braille and each Link is equipped with talkback for touchscreen use.”

So why has the issue not be revisited by elected officials?

It might be time to push for their removal again, especially considering that 86 percent of calls made from the boxes last year were false alarms, diverting firefighters from potential real emergencies.

Laguardia Airport Expansion Could Replace Rikers Island...

On Friday 6sqft reported Mayor Bill De Blasio’s announcement that the Rikers Island jail complex will be closed, following a report by the Independent Commission on New York City Criminal Justice and Incarceration Reform. “New York City has always been better than Rikers Island,” said the mayor when he announced the decision. The report also included ideas for the future of a post-jail Rikers. One such idea suggests that the island be used for the expansion of nearby LaGuardia Airport, raising the possibility of a new runway and additional terminal space, according to USA Today. “The Island is uniquely positioned to accommodate an expanded LaGuardia Airport that would reduce delays and could serve as many as 12 million more passengers annually,” the report states.

An expansion of LaGuardia that incorporated Rikers could grow flight capacity by 40 percent, according to calculations in the report. “For decades, LaGuardia Airport has led the nation in delays, with traffic jams in the sky and on the ground,” said Global Gateway Alliance Chairman Joe Sitt in a statement. adding that the proposal to extend LaGuardia’s runways to the island, “would be a big piece of the puzzle to change all that. By replacing 1960s radar with ‘NextGen’ GPS technology, and making more room on the ground for incoming and outgoing flights, passengers will finally be able to have on-time flights in New York. That is a vision worth working for.”

Other suggestions from the report included using Rikers Island to house an energy-from-waste facility which could process as much as 2,000 tons per day of otherwise undisposable waste, making use of emerging clean technologies that reduce the environmental impacts traditionally associated with waste-to-energy uses and providing a critical resource for the city’s Zero Waste goals, and using the land as a large-scale solar energy installation and a strategic site for an energy storage system.

[Via USA Today]

111 Jane Street, 5th Floor

111 Jane Street, 5th Floor

WEST VILLAGE, MANHATTAN

Offered At $3,245,000

Full Floor  |  2 Bed|  1 Bath  |  Condo

CC: $989/mo.  |  Taxes: $1,825/mo.

 

Enjoy stunning views, quaint outdoor spaces and sprawling living areas in this gorgeous full-floor, two-bedroom, two-bathroom West Village abode.

Arrive at the home via key-locked elevator and be greeted by southern and western light beckoning you to the oversized great room. This sprawling space offers ample room for comfortable living and dining areas, surrounded by fantastic built-ins and moldings, plus high ceilings and ebony hardwood floors, all warmed by a cozy wood-burning fireplace. Nearby, the delightful south-facing balcony invites you to drink in iconic views of One World Trade, the Statue of Liberty and sparkling Hudson River. The large open kitchen is a model of style and functionality with black granite countertops and custom cabinetry surrounding Viking Professional stainless steel appliances. Further on, you'll find an extra-large laundry room/pantry outfitted with a top-of-the-line front-loading LG steam washer and dryer.

Beautiful bedrooms are situated at the serene rear of the home, each sharing access to a second wrought-iron balcony and lined with oversized windows. In the tranquil master suite, a row of custom closets attend to wardrobe needs while the updated en suite bath melts away stress with a deep soaking Jacuzzi tub, separate steam shower and a dual-sink vanity. The second bedroom features a custom walk-in closet of its own and north eastern exposures. Additional custom closet space throughout the home, plus basement storage in the building, assures that all of your belongings will have a home in this fantastic West Village charmer.

Built in 1875, 111 Jane Street is a boutique pre-war condominium building offering a newly renovated lobby, video security and basement storage. Set at the intersection of the West Village and the Meatpacking District, this home is at the epicenter of Manhattan's best shopping, dining and premier cultural destinations with the new Whitney Museum and abundant theatres at every turn. Some of the city's best parks, including the High Line, Chelsea Piers, the gorgeous Hudson River Greenway and magnificent Pier 51 Playground, are now your backyard. A/C/E, 1, L and PATH trains offer excellent access to the rest of the city and beyond.

SoHo 'Gallery' Showcases Adoptable Cats And Dogs

“Take me to your tiny home” reads a sign hanging above a rather luxurious-looking cat-lounge. “I leap tall buildings in a single bound,” adorns a topmost cubby, garnished with a black and white cat. 

If you want to kick it with some Instagram-worthy cuties this weekend, go no further than Manhattan's new Pet Adoption Center that opened on Tuesday at 307 West Broadway. 

The state-of-the art facility showcases adoptable animals from nine local and regional organizations, including the Animal Cares Centers of NYC (ACC) “in a gallery style setting.” They get the full-treatment until they get new homes.

It also has a 24-hour nursery devoted entirely to bottle-feeding the most vulnerable of the homeless pet population and a neo-natal unit designed for newborns rejected by their mothers—very common during the summer, “kitten season.”

The Pet Adoption Center, led by the Best Friends Animal Society and a coalition of nearly 1,800 animal activist organizations, is committed to a furthering a “no-kill” philosophy and was established to raise awareness of the nearly 5,500 dogs and cats in the U.S. sent to permanent slumber every day.

It's a "mission control center" to educate visitors and spread the word about implementing a national policy for a 90 percent save-rate by 2025. The current national average is 69 percent.

“New York has done an incredible job and been on the verge of being a no kill city,” said Elizabeth Jensen, executive director of Best Friends Animal Society. “In 2004, New York had a less than 50 percent save rate, and finished 2016 with a save rate of 89 percent which is incredible.”

The Pet Adoption Center is open 11 a.m. to 8 p.m. Monday through Saturday and 12 p.m. to 6 p.m. on Sunday.

Ralph Lauren Closing Flagship Store

Ralph Lauren announced Tuesday that it will close its flagship store on Fifth Avenue and 55th Street, citing falling revenue and rising rents. As reported by the New York Times, the company, which opened this location in 2014, plans to reorganize by investing more in their online stores. Keeping afloat a business on New York City’s most expensive shopping strip is not a problem unique to Ralph Lauren; Kenneth Cole, Juicy Couture, and H&M have also recently closed their doors. Soaring rents, plus a drop in tourism, has lead to an increase in vacant space along Fifth Avenue.

While rents continue to skyrocket for a square foot of retail space on Fifth Avenue, with an average asking price almost $2,900 per square foot, these companies also have to deal with e-commerce and fewer tourists to spend money in their brick-and-mortar stores. According to the Times, “From 49th to 60th Streets, the availability rate of leases — one gauge of turnover — reached 15.9 percent at the end of last year, up from 6.1 percent five years earlier.” Plus, as 6sqft previously learned, New York City officials expected a drop in tourism from foreigners after President Trump first announced his travel ban, a decline for the first time in seven years. This could play a significant role in the city’s overall economy, as foreign tourists tend to spend more than domestic travelers.

Shares of Ralph Lauren fell nearly 4.5 percent, closing at $77.74 on Tuesday, the biggest same-day drop in two months. In the most recent quarter, Ralph Lauren’s total revenue fell more than 12 percent to $1.7 billion and the company has cut 1,000 jobs and also plans on closing 50 stores by the end of this fiscal year.

Closing the flagship store comes after an announcement in February that chief executive Stefan Larsson was leaving the company, due to “creative differences.” Larsson’s job included leading the company’s reinvention by focusing on more creative designs that would be produced faster. Ralph Lauren’s Polo store officially closes April 15, but its seven other stores in the city remain open.

[Via New York Times]

159 Madison Avenue, Unit 11I

159 Madison Avenue, Unit 11I

MIDTOWN, MANHATTAN

Offered At $450,000

Studio  |  1 Bath  |  Co-op

Maintenance: $1,389/ mo.

 

This sunny studio offers loft-like living space, great storage and coveted co-op amenities in the perfect Midtown South neighborhood.

Take in warm western light, hardwood floors and extra-tall ceilings in this wide-open studio offering a flexible floor plan ready to accommodate generous living and sleeping areas. The open kitchen is outfitted with full-size appliances and plenty of cabinet space, while the breakfast bar provides convenient seating for casual dining. An oversized bathroom with dressing area and walk-in closet round out this comfortable home, ideal for full-time or pied-à-terre use.

159 Madison is a handsome prewar co-op building offering a full time doorman, storage, laundry on every floor, plus a beautifully landscaped roof deck. The well-maintained co-op has a renovated lobby and hallways, and offers storage units placed on each floor (at an additional fee, subject to availability). Guarantors, co-purchasers, parents buying for children, pied-à-terres and dogs up to 40 pounds allowed with board approval. Surrounded by the Kips Bay, Murray Hill and buzzy NoMad neighborhoods, the location represents the best of Manhattan living with great restaurants, shops and entertainment at every turn. Madison Square Park is 10 minutes south and Bryant Park is 10 minutes north, providing easy access to open space and a full calendar of outdoor events. Access to transportation is superb thanks to 6, N/Q/R/W, B/D/F/M and PATH trains all nearby.

Tyra Banks' Enormous Duplex On The Market For $17.5M

Two years ago, Tyra Banks put her gigantic Battery Park City pad on the rental market for $50,000 a month, but the Times now reports that she’s decided to part ways with it completely, listing the 7,000-square-foot Riverhouse duplex for $17.5 million. Banks, who welcomed her first child last year, is spending most of her time at her homes in Los Angeles and Northern California since her new makeup line is headquartered in LA and both of her hosting gigs–for “America’s Got Talent” and “America’s Next Top Model”–also film there. She did, however, tell the Times that she’ll miss “the feeling of having a home in the sky.”

The condo was was originally four separate units on the 22nd and 23rd floors, which Banks bought in 2009 for $10.3 million. She then embarked on a massive renovation, which didn’t sit so well with her neighbors due to “ear-rattling drilling” and paint fumes. She outfitted the home with “rich fabrics, textured wall coverings, exotic wood details and ornate light fixtures” to make it feel like less of an apartment and more like “a single-family home with finishes and an experience like one would have in the Hamptons or even in an estate in Los Angeles,” she told the Times in an email. She also made sure to configure the apartment for “maximum privacy” with various wings to accommodate staff, business associates, and family.

The new owner (or renter–the home is still available for $50,000/month) will get five bedrooms, eight bathrooms, several kitchens and kitchenettes, a gym, hair salon, and amazing Hudson River and Statue of Liberty views. Other details include oak panel flooring, a banquet table that Banks said was designed to look like “a booth at a Michelin-starred restaurant,” and a mirrored dressing room.

They’ll also have access to the all the amenities (a yoga studio, fitness center, and saltwater lap pool, to name a few) at the eco-friendly Riverhouse, where Leonardo DiCaprio is also a resident. Though, Tyra did divulge that she’s never run into Leo in the building: “He was always that elusive spirit that so many people talked about. I’ll miss my houseguests trying to spot you in our building.”

The Monthly Update - April 2017

So, where is the market headed?

This is the question on the mind of every buyer and seller in the market today. On the one hand, there are plenty of encouraging signs from all over the media and blogosphere. The broker-coveted Oshlan Luxury Market Report, for example, noted last week that 330 contracts at the $4 million-plus price point were signed in the first quarter, a 33 percent increase over the same period in 2016. But (and there always seems to be a "but" in this market), the average days on market is over 390 days with a 7 percent drop from the original asking price. Sellers were probably willing to negotiate even further given the average days the properties spent on the market in this price point.

Where the high end market goes the rest will follow, right? Not necessarily. We are finding our higher end listings, while popular with appointments, are a bit slower to receive offers given the amount of inventory, again, that's borne out by Oshlan reported average days on market. This is in stark contrast to our "affordable" inventory, which can see as many as 18-20 buyers at each open house and offers within the first or second week. Even though we saw the Fed vote to raise interest rates last month, there was actually a slight dip in rates at the consumer level, which is a likely a contributing factor for the strong response for the more affordably priced homes in Manhattan and Brooklyn. Well, that and the fact that inventory in that sector is limited and not likely to grow any time soon.

Whether high-end or affordable, there is no real answer to the question, "So, where is the market headed?" But — and I’ve harped on this a thousand times before — the current market is so price sensitive that the placement of your asking price relative to other listings in the area can be the difference of selling in 3 days or 300 days.

Looking Back At What Closed...

The 2,649 total closings in the first quarter was down 11% year-over-year. This decrease was related to weak contract activity in 4Q16 (down 12% Y-o-Y), which was attributable to high asking prices and the uncertainty regarding the U.S. presidential election. New development closings continued to decline this quarter (down 20% Y-o-Y), though it should be noted that they are not indicative of the current market due to their delayed and often clustered closing schedules. The median closing price of condos decreased 6% year-over-year to $1.7M but the median closing price of co-ops increased slightly by 1% to $778K.

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Discovery’s ‘Cash Cab’ Trivia Show Is Coming Back

The Discovery Channel hasn’t debuted new episodes of “Cash Cab” since 2012, but that is now planned to change later this year.

The Hollywood Reporter just exclusively reported that Discovery is working on new episodes that will feature guest hosts from “the worlds of comedy, film and TV” as the drivers. Original host and driver Ben Bailey will apparently not be returning. The network has yet to announce a main host for the show.

Comedian David Steinberg (who has directed episodes of “Curb Your Enthusiasm” and produced various comedy specials) will executive produce.

For those unfamiliar with the original series, “Cash Cab” is a game show from 2005 where passengers in a taxi try to answer trivia questions before they reach their destination. Contestants could earn hundreds of dollars by answering these prompts correctly.

The original show had a bit of controversy when former contestants came forward to reveal the premise was faked. Rather than the cash cab randomly picking up unsuspecting passengers as the show implies, producers would cast contestants beforehand. The money exchange between the contestants and host at the end of their rides was also apparently staged, as the show would mail the contestants checks afterward.

These are certainly not egregious falsehoods, but the magic of hoping you could be picked up by the cash cab at any moment in New York was gone.

At least a couple of the original producers from All3 Media’s Lion USA, Tony Tackaberry and Allison Corn, are back to executive produce again.

It remains unclear if the new “Cash Cab” will be formatted similarly to the original or if there will be changes to the game show’s model. 

The Cost Of Exporting Trash From NYC Is Going To Soar

As the population of New York City continues to rise, so does the amount of garbage lining its sidewalks. But getting all this trash out of sight is not an insignificant expense. As the Post reports, a new study by the city’s Independent Budget Office (IBO) has found that the price of exporting trash is swelling and there appears to be little remedy in sight.

The report, released last week, found that the annual bill for waste export rose to $316 million in 2015, from around $300 million from 2010-2014. In 2021, two more marine transfer stations will open (of four total; one is open is Queens), and that figure will turn into $421 million annually.

Moreover, the IBO found that long-term waste contracts that use marine transfer stations to process trash and ship it away from the city have become more expensive per ton than short-term contracts that use local landfill space. Under long-term contracts, exporting trash to landfills increased from $63.39 in 2007 to $129.81 in 2016. Long-term contracts were initially employed to save money and protect against the price fluctuations of short-term contracts—they were also the main driver for building additional marine transfer stations.

The report does say that per-ton-costs for the marine transfer station contracts are likely to stabilize or decline as they process more trash, but it’s also noted that “Over the next few years, however, as the remaining stations begin to operate, the city’s per-ton waste export costs will likely continue to be higher than the existing short-term contracts they replace.”

In response to this uptick, Mayor de Blasio has included additional funding for the Department of Sanitation in his preliminary four-year budget. In all, about $89 million will be added to the sanitation department’s budget from 2018-2021. The mayor, however, added no new funding for 2017.

Despite rising costs, the city continues to make clean streets a priority. As 6sqft previously covered, the city’s sanitation department spent $58.2 million last year to keep the streets clean, an increase from the $49.5 million spent the previous year. The budget included expanded routes, the addition of more workers to empty sidewalk trash cans, and added Sunday service. Last year, Staten Island got its first street sweeper.

First Look Waterline Square’s Trio Of Towers

Last month, we announced that construction of GID Development Group’s three-building master plan along the Upper West Side waterfront is on the rise. Named Waterline Square, the ambitious-in-design megaproject enlists three high-profile architecture firms for each of the buildings: Rafael Viñoly Architects, Richard Meier & Partners and Kohn Pedersen Fox. Now the development team has unveiled the trio of designers that will shape the interiors: Champalimaud, Yabu Pushelberg and Groves & Co.

One Waterline Square is being designed by Pritzker Prize-winning architect Richard Meier and will rise 36 stories tall from the superblock’s southwest corner at West 59th. International-designer Champalimaud is in charge of the 288-unit building’s interiors. Per the press release, “Champalimaud sought to marry the precision of Meier’s exterior with great warmth.” The two finish palettes: white and a natural toned selection, celebrate the individual character of each home and showcase high ceilings, enormous windows, and a rich selection of handpicked materials from around the world. The studio’s other local works include the condominiums at the Kent, the Chamberlain and 12 East 88th Street.

Two Waterline Square is being designed the internationally-prolific firm of Kohn Pedersen Fox (KPF). The cascading two-towered building will be the master plan’s largest and hold 696 residential units along its 38 floors. Acclaimed boutique hotel and hospitality duo, Yabu Pushelberg are refining the buildings’ spaces. Two modern finish palettes are offered for the homes, either light or dark, with each enhancing the refined sense within the light-filled residences. Yabu Pushelberg is best known in the city for their cozy and comforting interiors at One57’s Park Hyatt New York.

Three Waterline Square is being designed by 432 Park Avenue-designer Rafael Vinoly Architects. The 34-story building’s sculpted crystalline form will be surrounded by green space and accommodate 244 units. Interiors designed by Groves & Co showcase dramatic views of the park, river and city. Like its two peers, buyers can choose between two finish palettes: oak or ash. Positioned near the center of the master plan, the building will

Sales at Waterline Square are officially planned to launch in the coming months and delivery is projected in 2019. Waterline Square is the ambitious culmination of the 77-acre Riverside South Master Plan that has been more than 50 years in the making. Waterline Square’s towers will provide 1,132 high-end condo and rental homes in a variety of configurations and finished. The residences will be benefitted by gracious views of the Manhattan skyline and Hudson River along with 100,000 square feet of "sports, leisure and lifestyle" amenity spaces. Buffering the towers will be a three-acre park designed by Mathews Nielsen Landscape Architects that will contain groves of trees, walking paths, a great lawn, a playground and water features.

‘Fearless Girl’ Statue Will Remain On Wall Street For Another Year

The drumbeat for making the statue of Fearless Girl a permanent fixture in Lower Manhattan continues. Over the weekend, Mayor Bill de Blasio said the bronze statue of the little girl staring down the Wall Street bull, which had been installed to celebrate International Women’s Day, will remain through February 2018. But that hasn’t satisfied several female elected officials, who have continued to insist the empowering symbol should remain forever.

Your new home awaits.