Real Estate News from January 2013

  • Manhattan’s Best Selling Buildings of 2012 By Aby Thomas | January 30, 2013

    While 2012 was a great year for Manhattan’s luxury apartment buildings, it is easy to see that some of these condos had a much better year than their peers! Curbed New York recently came out with a list of buildings that had the most sales in New York City last year, and we noted that five Manhattan buildings had made it into this very exclusive list. Read on to find out which Manhattan condos had a rocking time last year:

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  • More LEED Certified Space Makes New York Greener By Aby Thomas | January 28, 2013

    New York has put its weight behind dozens of environment-friendly initiatives in the past few years, with the city determined to make itself known as a green metropolis. One such effort has been the push for new buildings in the city to get themselves one of the four LEED certifications, a rating system that grades structures for their adherence to green building design, construction, operation and maintenance. New York has been doing especially well in this regard—a recent survey had it placed third on the list of states that had the most amount of LEED certified space, with California and Texas taking the first two places.

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  • New York City Sees Most Home Sales Since 2008 By Aby Thomas | January 25, 2013

    If the string of impressive home sales made last year in New York City wasn’t enough to convince you that the city’s real estate sector is back on track, this new report by the Real Estate Board of New York certainly will! According to the latest report from REBNY, 2012 marked the strongest year New York has seen in residential sales since the beginning of the financial crisis in 2008, with the total amount of sales in the year coming up to a whopping $30.3 billion. 

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  • Grand Central Terminal Makes Plans to Celebrate its One Hundredth Birthday By Michelle LaFiura | January 24, 2013

    Grand Central Terminal is celebrating its one hundredth birthday next week, and in true New York fashion, it’s doing it with style.  Commonly called Grand Central Station, this name is actually incorrect since trains do not pass through, they are ‘terminated’ at this location. Grand Central Station is in fact the name of a nearby post office. Built by Cornelius Vanderbilt, the terminal has been carting passengers on its 67 subterranean tracks, as well as acting as the backdrop for tons of New York City films, since February 1, 1913. For that reason, on Feburary 1, 2013, the terminal will be having an all day party including performances and special appearances. LEGOLAND Discovery Center Westchester will be unveiling an exact replica of the terminal made completely of Lego® bricks, along with a performance from the Knicks City Dancers and tons of free giveaways and specials.  Various shops and restaurants will be participating by rolling back their prices, way back to 1913. That’s right, 19 cents for shrimp at Pescatore, 10 cents for fries at Tri Tip Grill, and $2 for silk scarves at TOTO. Anybody in the area that day should highly consider stopping by the terminal for lunch.

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  • NYC’s New Micro-Apartments: Just How Livable Are They? By Aby Thomas | January 23, 2013

    There have been plenty of debates about the feasibility of living in a micro-apartment in New York ever since the city launched its adAPT NYC competition in July last year, where it invited architects to submit design proposals for apartments that range in size from 250 to 370 square feet. On Tuesday, a team comprised of Monadnock Development LLC, Actors Fund Housing Development Corporation and nARCHITECTS was declared as the winner of the competition, with the city choosing their designs to be implemented for the 55 units of Manhattan’s first modular, multi-unit micro-apartment rental building.

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  • Census: New York City is in a Class of its Own By Michelle LaFiura | January 22, 2013

      In the 1950’s you could see a movie for only 60 cents and get a gallon of gas for just $0.26. Times have changed though and today we make adjustments for comparison. Do we have to use similar adjustments when comparing New York costs to other parts of the country? Because of the spiked prices in living expenses in comparison to other regions, New York City residents fall into a gray area when it comes to their socio-economic status. Take a look around any suburb and it’s easy to see that a lavish home perched on a neatly manicured lawn is clearly an affluent household while a run down neighborhood falls on the other end of the spectrum. But in a city whose citizens live in the sky, determining socio-economic status isn’t as visible. Compared to other parts of the country, rent is higher in New York, but so are annual salaries. Somebody who might be of average means in the city would be very wealthy in the suburbs. If this is the case, and New Yorkers are measured on a different scale, what factors apply? A recent New York Times article grapples with this very question.

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  • Upscale Makeover Makes Fourth Avenue More Appealing By Aby Thomas | January 21, 2013

    While Greenwich Village is already home to some of New York City’s most popular haunts, the neighborhood is now seeing a number of new trendy establishments open up in the area along Fourth Avenue. The six blocks between Astor Place and Union Square have been undergoing a makeover of sorts over the past few years, and this once overlooked locality is now seen as a great location for all kinds of businesses.

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  • Work Begins Again At Long Island City Crane Collapse Site By Ryan Daley | January 18, 2013

    Work has started again at the TF Cornerstone luxury rental site in Long Island City following a crane collapse on January 9th. After seeing no construction activity and around the clock police presence in the area over the last two weeks, two additional cranes are now on the property and and a flurry of work activity is being reported. The construction site, located in Hunters Point, sits directly behind the iconic Pepsi-Cola sign that overlooks the East River waterfront. 

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  • Classic Architecture Still Reigns on the Upper East Side By Michelle LaFiura | January 17, 2013

    The contemporary architecture sprouting up in Midtown and Downtown Manhattan isn't making it's way to the Upper East Side just yet. The modern style of glass condominiums would stand out in this neighborhood, but residents prefer new developments to blend in with the old world charm of already present buildings. According to the New York Times, residents respect designers whose building projects fit in, rather than attempt to change their Upper East Side neighborhood.

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  • Just How Old Are Most New Yorker's Buildings? By Ryan Daley | January 16, 2013

    Anyone can tell you New York City's housing stock is a mix of new and old, but while headlines of new apartment buildings on the rise grab the attention of the public, the chart above shows nearly 60% of occupied units in the city were built before 1947. Even more striking is the dearth of units coming onto the market since 1974. 

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