Real Estate News from July 2013

  • Is Time Warner Westward-Bound? By Joel Bennett | July 22, 2013

    Earlier this month, Time Warner’s tentative plans for a mass exodus from its Midtown headquarters came to light after the media/entertainment giant entered exclusive talks with Related Construction. The deal hasn’t been officially inked yet, but the move would take the companies operations Westward to Hudson Yards. While it appears to be a win-win for both parties involved, the thought of empty skyscrapers in Midtown is a concern for some.

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  • Rising Mortgage Rates Are No Threat to New York’s Luxury Market By Clemence Fontaine | July 22, 2013

    Even though mortgage rates have increased these past few months, they have not diminished the American housing market rebound of 2013. Indeed, New York still stands as a favorite safe-heaven for both foreign and American investors. After Ben Bernanke, the Federal Reserve chairman hinted that the FED will begin to lower its stimulus, concerns started to rise over the future of the real estate market. 

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  • In Awe of The Apthorp: NYC’s Historic Condominium By Shwetha Ravishankar | July 19, 2013

    In the heart of the Upper West Side, tucked away behind giant black and gold ornate gates, is the historic condominium building - The Apthorp. Its treasured Italian Renaissance Revival architecture was built between 1906 and 1908, and designed by architects Clinton & Russell.

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  • The Notorious LIC: Mo(MA PS1) Money, Less Problems By Nikki Hess | July 19, 2013

    MoMA PS1, Long Island City's famed institution for contemporary art, has been granted $3 million by way of a recent New York City council budget ruling. Thanks to this extra financial boost, the museum will have ample funds to purchase a small apartment located on the same block. This encouraging support of the museum (as well as others in the area) from the New York City government is great news for art enthusiasts, history buffs, and party animals alike, seeing as MoMA PS1 offers a little something for every type of visitor.

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  • A Much Needed Makeover for the East River Waterfront By Joel Bennett | July 18, 2013

    In spite of Seth Pinsky, the NYC EDC’s president, announcing his departure, development of the East River Waterfront Esplanade continues without hitch. Architects have re-submitted updated schematics of a final plan for the project to Community Board 3 for review, and a completion date has been set for Spring 2015. The community board has until late August to make any recommendations for change, but the current incarnation of the final design plan is available online for public consumption (“PKG #4”).

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  • Zaha Hadid - Extending her Architectural Prowess to NYC By Shwetha Ravishankar | July 18, 2013

    The Riverside Museum, Glasgow - Designed by Zaha Hadid Born in Baghdad, Iraq, Zaha Hadid was introduced to the world of architecture early on, when she lived in a Bauhaus-inspired building, at a time when modernism implied progressive thinking in the Middle East.

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  • A Refreshing Decision: Preserving the Pepsi Sign in Long Island City By Nikki Hess | July 17, 2013

    Lately, it seems like everyone is feeling a bit nostalgic. From lusting after vintage everything to chatting about the good old days of 80's, 90's, or [insert your favorite decade here], memory lane fever has struck us all. Yet in spite of this, many New Yorkers were surprised by the news that Long Island City's iconic Pepsi Cola sign will eventually become the focal point of the area's new construction. TF Cornerstone, a New York real estate developer and property management company, is in the middle of constructing the massive, ongoing development right along the East River that will produce a total of 2,100 new apartments in 6 different buildings as well as the community park that will put the cola company's famous billboard on display.

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  • NYC’s Luxury Buildings Going the Downton Abbey Way By Aby Thomas | July 17, 2013

    It may be a little hard to believe, but there’s definitely a little bit of Downton Abbey to be found in some of New York City’s most high profile luxury residential buildings. In the popular British television drama series, the well-to-do Crawley family live on the opulent top floors of their stately home, while relegating their trove of servants to the smaller—and much less glamorous—quarters below. Now, while one may think that this “upstairs-downstairs” concept is a relic of the early 20th century era the show is set in, this principle is still very much in use in some of Manhattan’s finest buildings, which include 15 Central Park West, One57 and 432 Park Avenue.

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  • PreSales: New York's New Trend By Clemence Fontaine | July 16, 2013

    The market for real estate keeps rocketing skywardin New York with luxury apartments that sell like hot cakes. Hence the new trend to buy an apartment years before its completion date. To convince prospective buyers and give them an insight of what they could be expecting developers have become imaginative. 

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  • A slice of Chiswick, London in Manhattan? By Shwetha Ravishankar | July 16, 2013

    A hidden gem? A slice of London in New York? A village in the heart of Upper West Side? Architects, residents, the press, and everyone else who have had the privilege to get a glimpse into the landmarked site - Pomander Walk, have given it a title and a tag! 

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