Page 138 of 141 FirstFirst ... 3888128134135136137138139140141 LastLast
Results 2,056 to 2,070 of 2110

Thread: Manhattan Residential Development

  1. #2056

    Default

    soho's very own flatiron

  2. #2057

    Default

    A real estate saturation point when it comes to billionaires?

    Sales slow at high-end condos as pricey pads grow plentiful around city

    Only 75 percent of the 94-unit One57 is occupied along Billionaire's Row in Midtown


    NEW YORK DAILY NEWS
    Friday, June 13, 2014, 2:00 AM



    Marchmade
    High-end condo deals have slowed at several luxe buildings, including One57, the skyscraper that symbolizes the new Billionaire’s Row on W. 57th St.

    Where did all the billionaires go?
    After a year of frenzied sales in 2013, high-end condo deals have slowed at several luxe buildings, including One57, the blue glass skyscraper that symbolizes the new Billionaire’s Row on W. 57th St.

    This time last year, the 94-unit building was 70% sold. Now, it’s just above 75%, said Jeff Dvorett of Extell Development, meaning only a couple of apartments have been bought over the last 12 months. The remaining units are mostly priced between $20 million and $40 million. And the 1% is balking.

    The uber rich are also slow to sign on the dotted line at 432 Park Ave., Harry Macklowe’s high-end condo slated to become the tallest residential tower in the Western Hemisphere, and at a much-lauded condo conversion at 737 Park Ave. (r.), brokers said.
    ©dbox for CIM Group & Macklowe Properties
    The skinny tower at center is a rendering of 432 Park Ave.

    The developers of both buildings recently brought in outside brokerages to help move units — a clear suggestion that they’re nervous. They declined to comment on sales figures.
    It’s not that the petrodollars, Siberian gemstones and Saudi gold reserves have dried up. There is still a globe filled with Russian oligarchs and Egyptian construction magnates, like Nassef Sawiris, who just bought the $70 million penthouse at 960 Fifth Ave.

    But supply has finally started catching up with demand. Right now, 43 Manhattan units are listed at more than $40 million — a 48% increase from last year and a 126% increase from two years ago, according to StreetEasy.
    Suddenly, there are just a lot more posh pads for today’s Gilded Age jet set — and that’s cooling the market a bit.
    EnlargedboxEnlarge
    Renderings of luxury 432 Park Ave. apartments.

    "Some of the frenzy and froth has dissipated, for sure," said developer Ziel Feldman of HFZ Capital, who is doing well with his high-end — but not super high end — condo in Chelsea. "The supply and demand is still very healthy, but people are seeing more options."

    And even more options are coming: The well-to-do will soon be able to snag apartments in the ultra-skinny, 1,350-foot hotel and condominium glass tower at 111 W. 57th St. and a 950-foot limestone tower at 220 Central Park South.
    Such buildings have that new car smell for billionaire buyers, who no longer feel any urgency to lock down a pad.
    "People are taking a breath," said broker Reba Miller.

    Billionaire’s Row is not about to crash and burn anytime soon, but prices in the high-end market may begin to crack if developers keep building units only for the super wealthy.
    Marchmade/Marchmade
    Amazing views as well as units are plentiful at One57 on W. 57th St.
    “[The luxury market] was the last part of the market to come back after 2008 and it may be the first one to topple over," said Donna Olshan, the owner of a luxury brokerage. "The market could become very fragile if too much product at that end piles up."

    Still, some said a slowdown in sales may not be the worst thing if it means the market is leveling out from the dizzying heights it reached last year.
    "The last time people went out there and lit their hair on fire to buy apartments," said broker Jason Haber of Warburg Realty, “we had the biggest crash in a generation."

    http://www.nydailynews.com/life-styl...icle-1.1827613

  3. #2058
    Disgruntled Optimist lofter1's Avatar
    Join Date
    Jun 2005
    Location
    NYC - Downtown
    Posts
    32,654

    Default 224 Mulberry Street

    At 224 Mulberry Street in Little Italy, a "vertical enlargement" is being inflicted upon a former low-rise deco-era garage. It's soon to be a mega-condo and is getting some new bricks. This one is rising taller than just about anything nearby, due to the work of a clever zoning expert who noticed that the Special Little Italy District zoning regulations, which cap building heights at 85 feet, only pertained to "new buildings." That zoning text has since been amended so that both "new buildings" and "vertical enlargements" have the same 85' height cap, which assures that the upper floors here will have uninterrupted views (maybe the development team here is the inside player that pushed for the more restrictive zoning text change?).

    As touted on the 224 Mulberry teaser website, units here will be super pricey ...

    Seven unique residences priced from approximately $6,250,000 to $30,000,000

    And this info from last year at Curbed, with a shot of how it will look once the bricks are up and the netting is down:

    Condo Prices At 224 Mulberry Will Be 'Unapologetically High'

    ... what justifies the nosebleed prices for the boutique 7-unit building? According to Flank, the size, quality, and amenities.

    The building is only eight stories, but it will rise 110 feet, giving some of the two- to four-bedroom homes 25-foot ceilings.



    A reminder of the nice old bricks that were supposed to be saved, but which were later deemed by the development team to be structurally unsound and therefore had to go, along with some shots of the new bricks behind the construction netting above Mulberry Street ...























  4. #2059

    Default

    NYC residential construction jumps 50%

    Boom will yield fewer new units as more money is spent on super-luxury projects.

    Photo: Katrina Samuelson

    Residential construction in the city is expected to rise 50% this year, most of the apartments created will be for the wealthy.Spending on residential construction is poised to hit a new record high this year of $10.2 billion, up 50% from 2013, according to a report released Wednesday by the New York Building Congress. Last year's total was $6.8 billion. The bad news is the steep run up in spending will actually yield fewer units—20,000—than the 30,000 per annum pace that was hit several times in the last real estate cycle. The difference is that this year there will be far more money spent on luxury properties designed for wealthy residents or investors.

    "While the luxury residential market is booming in Manhattan and in parts of Brooklyn and Queens, we have our work cut out for us in terms of achieving Mayor [Bill] de Blasio's plan to create or preserve 200,000 units of affordable housing over the next decade," Richard Anderson, president of the congress, said in a statement.

    While a rise in construction costs also contributed to the decline in the number of new residential units built compared to the last boom, New York City is also trailing behind most other growing cities in terms of the percent change in total housing units between 2000 and 2012, according to a policy brief recently released by the Citizens Budget Commission. In fact, with a gain of under 10% in that 12-year span, the Big Apple came in 19th out of 22 large cities in the country.

    But regardless, the current boom in residential construction has created thousands of new construction industry jobs and increased economic activity and tax revenues, Mr. Anderson noted. In fact, the Building Congress report predicts that the residential sector will single-handedly lift total construction spending across all sectors by 10% this year over last year's level.
    Total construction spending is estimated to increase from $28.5 billion last year to $31.5 billion by the end of this year.

    In contrast, spending on non-residential buildings, which includes commercial office towers, is expected to dip slightly from last year's $8 billion figure—though Mr. Anderson was optimistic about several large commercial office projects in the offing including the World Trade Center and Hudson Yards.





  5. #2060
    Forum Veteran Tectonic's Avatar
    Join Date
    May 2007
    Location
    New York City
    Posts
    3,673

    Default

    Surprise!

  6. #2061
    Forum Veteran Tectonic's Avatar
    Join Date
    May 2007
    Location
    New York City
    Posts
    3,673

    Default

    10 Bond


    ©tectonic

  7. #2062
    Crabby airline hostess - stache's Avatar
    Join Date
    Jun 2004
    Location
    Nairobi Hilton
    Posts
    8,511

    Default

    ^ Meh.

  8. #2063
    Forum Veteran Tectonic's Avatar
    Join Date
    May 2007
    Location
    New York City
    Posts
    3,673

    Default

    Hang in there. The facade might be nice.

    http://www.10bondstreet.com/

  9. #2064
    Disgruntled Optimist lofter1's Avatar
    Join Date
    Jun 2005
    Location
    NYC - Downtown
    Posts
    32,654

    Default

    You can see in the last photo, peeking between the scaffolding, that the first mullion-free corner window is being installed.

    The terra-cotta is luscious (more has been installed since I posted pics 2 weeks ago):


  10. #2065
    Disgruntled Optimist lofter1's Avatar
    Join Date
    Jun 2005
    Location
    NYC - Downtown
    Posts
    32,654

    Default

    More terra-cotta at 10 Bond:

    Click image for larger version. 

Name:	IMG_2516.jpg 
Views:	229 
Size:	148.0 KB 
ID:	17985

  11. #2066
    Disgruntled Optimist lofter1's Avatar
    Join Date
    Jun 2005
    Location
    NYC - Downtown
    Posts
    32,654

    Default

    Selldorf seems to like chunky window frames (perhaps "clunky" is a better word - I'm not a fan of what's seen either at 10 Bond or 200 Eleventh, shown here when the construction netting came down in 2010) ...


  12. #2067
    Forum Veteran Tectonic's Avatar
    Join Date
    May 2007
    Location
    New York City
    Posts
    3,673

    Default

    08.29.14

    Toll Brothers' 959 1st Ave.


    ©tectonic

  13. #2068

    Default

    Everything in that photo (other than the tallish brick building with the great old building at its base) is disgusting. The Far East side is a mess.

  14. #2069

    Default

    This new building may be residential, not sure, but the facade has an interesting feature worth noting: a raw concrete formwork facade that looks fantastic. The inevitable blotchy, grayish, rough textured look of exposed reinforced concrete formwork can be 'artfully' manipulated into a - low cost - attractive facade. Most folks reading/seeing this will not have a clue what I am taking about without doing a little research here on wirednewyork, or on yimby or skyscraper pages: but to those few who KNOW - take a gander at something rare and special in the construction industry that has been well executed on this building. I wish the same could be said for 432 Park Avenue........


  15. #2070
    Fearless Photog RoldanTTLB's Avatar
    Join Date
    May 2009
    Location
    Broomfield, CO
    Posts
    2,910

    Default

    Sorry, but 0% chance that's inexpensive or raw concrete. That's a stupid amount of concrete for a building when there's cheaper methods of construction. It's more likely to be an application over CMUs.

Similar Threads

  1. Greenways and Waterfront Development
    By Edward in forum New York City Guide For New Yorkers
    Replies: 198
    Last Post: July 21st, 2015, 01:30 AM
  2. Astoria Development
    By Kris in forum Brooklyn, Queens, Bronx, and SI Real Estate
    Replies: 64
    Last Post: November 26th, 2014, 04:43 AM
  3. The Final Frontier for Development in Manhattan - Falling re
    By Fabb in forum New York Real Estate
    Replies: 3
    Last Post: June 18th, 2003, 05:16 PM
  4. 139 E. 34th Street - Building type, residential?
    By dvinfo in forum New York Real Estate
    Replies: 0
    Last Post: April 1st, 2003, 11:34 AM
  5. E 34th new development
    By tlowe in forum New York Real Estate
    Replies: 0
    Last Post: March 31st, 2003, 05:15 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


Google+ - Facebook - Twitter - Meetup

Edward's photos on Flickr - Wired New York on Flickr - In Queens - In Red Hook - Bryant Park - SQL Backup Software