Real Estate News from May 2013

  • Court Square's CitiGroup Tower will soon have company By Shwetha Ravishankar | May 22, 2013

    Court Square most popularly known for the CitiGroup building that towers over its rather lonely skyline, will soon have company. The newest residential building in Queens' by Rockrose Development Corp. is all set to become the tallest residential building in the area. The 50-storey, 500-foot tall building will rise in place of existing seven low-rise warehouses in the area. 

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  • The Residential Canvas of 5 Pointz By Rafael Paredes | May 21, 2013

    New York City has long been a surrogate for the arts. It houses the MoMa, Museum of Modern Art, in Midtown Manhattan;  the Paley Center for Media, also in Midtown Manhattan; as well as the Museum of the Moving Image, in Astoria.

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  • Yahoo's Latest Takeover: Times Square By Joel Bennett | May 21, 2013

    Yahoo’s recent acquisition of Tumblr for $1.1 billion in cash has reaffirmed the company’s position as a contender in the tech world. Riding high on this, the company has announced it’ll be moving the bulk of its operations and New York based employees into the old New York Times building on 43rd street. The Midtown property is sought after, not just for its history, but for its location - it lies at the heart of the city’s busiest area in Times Square and just down the road from Executive Plaza, Carnegie Plaza, and the Gallery House.

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  • The Story of Manhattan: The Elegran Facebook Project By Aby Thomas | May 21, 2013

    Did you know that Manhattan got its name from the word “mannahatta,” which means “the island of many hills” in the Native American Lenape language? Or that the Empire State Building was, for a time, in a competition of sorts with the Chrysler Building to secure the title of the tallest building in New York? Or that Marilyn Monroe’s famous billowing white skirt scene in the 1955 hit movie The Seven Year Itch was filmed on the subway grates at 52nd Street and Lexington Avenue? Well, now you know! And if you now feel like learning more such tidbits about Manhattan, you now have a place to go to—the Elegran Facebook page! Yes, in what is most definitely a first for real estate firms in New York, we have captured some of Manhattan’s most memorable moments on our Facebook timeline. Put away your history texts—now you can check out the story of Manhattan by clicking through our feed on Facebook!

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  • Billionaire William Ackman Revealed to be One57 Penthouse Buyer By Aby Thomas | May 20, 2013

    The penthouses at One57 have been the stuff of lore in the Manhattan real estate sector—everything about these luxury residences, be it their expansive spaces or their stunning views, have been praised and lauded in the past couple of months. Of course, the prices of these penthouses were responsible for most of this buzz in the market—given that these apartments were listed for more than $90 million, there’s been a lot of speculation about who were the mystery buyers of the duplex penthouses at One57.

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  • NYC Celebrates The World Of Design By Angela Richardson | May 15, 2013

    New Yorkers are no strangers to the realm of quality, cutting edge design.  Events such as New York fashion week showcase the latest innovative designs from quality designers around the world, aesthetically pleasing to both the design elitist to the common enthusiast. This week New York City celebrates every aspect of design ranging from DIY & Craft architecture, interior, landscape, product ,graphic and of course, fashion design. Organized by founder of NYC Fashion Week, Fern Mallis. hopes to make design an integral part of American culture. To make your life a bit easier- we composed a list of the must-see events of design week.

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  • Gatsby in Midtown Manhattan: 6 Iconic Sites You Can Still See Today By Thomas Faddegon | May 15, 2013

    With Baz Luhrmann’s new film sending sales of the classic novel through the roof, we thought we should take the time to appreciate our proximity to some of the iconic locales in this titan of American literature. Authors of the literary Modernist movement put a great deal of emphasis on the idea of place, and although much of the novel was written in France, Fitzgerald’s classic captures the beauty, splendor, and discord of New York in a way few others have. Much of The Great Gatsby takes place on Long Island, but Manhattan serves as a mecca of decadence to extravagantly wealthy and habitually bored Long Islanders. While the novel is set over 90 years ago in a city known for its constant evolution, there are still plenty of places to see, particularly in Midtown Manhattan.

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  • Coming soon to FiDi: The Four Seasons Tower at 30 Park Place By Aby Thomas | May 15, 2013

    Rendering by dbox While the whole of New York City celebrated the topping off of One World Trade Center last week, the Financial District was especially reveling in the moment, given that the 1,776-foot tower is going to become an iconic presence in this small yet significant neighborhood. But the Financial District has now got another tower to cheer—there’s a new 926-foot, super-luxury building being planned at 30 Park Place, located only a few blocks away from the World Trade Center towers.

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  • Purchase of Steinway Hall Allows More Height for 57th Street Tower By Tim Sheehan | May 13, 2013

    It appears another development group has decided to take part in the 57th Street luxury high-rise construction boom in Midtown. Two of the tallest condominiums in Manhattan are currently under construction on 57th Street, and now a third skyscraper will be coming to 107 West 57th Street adjacent from the recently acquired Steinway Hall at 109 West 57th Street.

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  • The Case for Moving Madison Square Garden By Aby Thomas | May 13, 2013

    On May 22, the Department of City Planning is going to vote on whether Madison Square Garden, one of New York City’s most iconic structures, should be given only 15 more years to operate from its current location over Penn Station in Midtown Manhattan. If the city’s commissioners give the green signal to this proposal, then that means that the “World’s Most Famous Arena” will probably soon have to find a new location to call as its home in the city.

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