Manhattan, NY Real Estate News

By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
The townhouse spans about 7,000 square feet   A Sutton Place townhouse is hitting the market for $21 million. The seller is the estate of Drue Heinz, who was married to heir Henry John Heinz II, the Wall Street Journal reported. Heinz died in April and the property is owned by a trust established in 1986. Mary Kent of Sotheby’s International Realty has the listing. The townhouse, on the corner of East 57th Street and Sutton Place, spans about 7,000 square feet. It has access to a shared neighborhood garden — and the home includes a 32-foot-long drawing room, a wood-paneled library and an elevator. The home was designed for Anne Vanderbilt, wife of railroad heir William Vanderbilt. Previous owners also include include Charles Merrill, the co-founder of Merrill Lynch, the report said. Las...
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By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
To segue into this question, I invite you to read a brief true story. As I was shopping at Lowe's within the garden section of the store, I came across the Clearance Rack and found various flowers and plants that have been greatly discounted because they appeared to be on their last licks of life.  I prefer purchasing from this section because on a very practical level, you save money, and on a spiritual level, it provides a simple, yet profound lesson.  There was a half dozen annuals that seemed pretty worn down. One of the employees was standing nearby and saw me pick up the batch. She stepped a bit closer to me, leaned in, and said softly near my ear, "it's too bad they are finished blooming and will not make it." And then walked away.  I kindly disregarded her comment and whispered ...
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By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
You're invited to join Certified Feng Shui consultant, Laura Cerrano for a free Facebook Live discussion on September 5th, 2018 at 6:30pm EST, about the benefits of addressing and acknowledging Helpful People and Travel within your home and life. To watch at 6:30pm EST, click on: Watch Helpful People & Travel Facebook Live Talk with Laura Cerrano   See you then!
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By Ricardo Mello, Manhattan & Miami Real Estate Agent
(Manhattan Miami Real Estate)
The Upper East Side has some of the most expensive properties in New York City. It also has some of the most reasonably priced properties. While parts of the UES have long been one of the most prestigious locations, it is also a great neighborhood to buy your first apartment. The most expensive properties lie from Fifth Avenue to Lexington, but then prices are more tame as you head East. With the new 2nd Avenue Subway, this area is becoming more and more popular and relevant, with a quick twenty-minute commute from the outreaches of the Upper East Side to midtown.You can find some very reasonably priced Upper East Side apartments for sale as there are a lot of coops in the UES, which are lower priced than condos. The UES offers the best options for entry level 2 bedrooms apartments for ...
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By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
Doors in Feng Shui hold significant meaning, literally and metaphorically. In short, on a practical note, they allow you to move from one room to the other. From a Feng Shui perspective, doors relate to the concept of communication. In particular, the front door is known as the, "mouth of chi." In regard to the western Feng Shui anatomy of your home, this is where all the good energy first enters and begins to nurture and animate the spirit of your home.   DOOR ENERGETIC MAINTENANCE CHECKLIST:1. Make sure the door's over all presentation is vibrant and healthy looking. Meaning, there are no cracks in the door, it's not moldy, or looking like its about to fall off the hinges.  2. Does your door become stuck when opening and closing it? When this happens, it's like saying your voice is ge...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
 A sponsor unit at 432 Park Avenue sold for $31 million — roughly $10 million lower than its listing price. The condo was marketed for $40.75 million when it went into contract in May, according to Streeteast. Douglas Elliman’s Richard Steinberg and Sabrina Saltiel had the listing. The buyer is listed in property records as Iair Rosencranz. The 93rd floor unit spans nearly 4,000 square feet. The apartment includes a library and master bedroom suite with dual walk-in closets. The suite and kitchen have marble floors. As developers Macklowe Properties and CIM Group have sought to offload sponsor units, they’ve been competing with owners' resale listings. Sponsor unit 80B sold last fall for $39.3 million, an 11 percent discount. Two 91st floor units sold for a combined $60 million — after ...
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By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
This is a pretty interesting question to unravel because, in the science of Quantum Mechanics, EVERYTHING is made of energy, including; emotions, thoughts, and WORDS.  Quickly referring to a branch of psychology called, Gestalt Psychology, studies suggested that words convey symbolic ideas beyond their meaning.  Japanese researcher, Dr. Emoto said, "the human consciousness has an effect on the molecular structure of water." Which in short means, if you choose to think and speak positively or think and speak negatively, this could affect your physiological well-being.   So, can naming your home boost positive energy? From a Feng Shui perspective, backed with various scientific research, the answer is, YES! When you choose to name your home, you establish a personal bond with your space. ...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Apartment on 65th floor was listed for $32.5M  432 Park Avenue   Why the face? Maybe because this buyer’s flipped two units at 432 Park Avenue at a loss.   An LLC by the name of “WHY THE FACE” just sold a unit on the tower’s 65th floor for $24.2 million, records filed with the city’s Department of Finance show. That’s down from the $25.6 million the buyer paid in March 2016, and $8.3 million less than what the apartment was initially listed for in April 2017.   The apartment spans 4,000 square feet and features three bedrooms and a library.   This mysterious buyer sold another unit at a slight loss — roughly $73,500 — on the 28th floor. The unit was purchased, according to city records, on the same day as the other apartment. The buyer paid $1.8 million and then sold the unit in June.  ...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
The 2 flexible-office companies are vying for the iconic 180K sf building From left: WeWork’s Adam Neumann, the Flatiron Building at 175 5th Avenue, and The Office Group’s Olly Olsen  The Flatiron Building, one of New York City’s oldest and most iconic skyscrapers, is available for leasing, and two of the world’s largest flexible-office companies are bidding to move in.   WeWork and London-based The Office Group will go head-to-head in their advance on the 180,000-square-foot building, which would serve as an enticing location for co-working spaces. The negotiations with building owner Sorgente Group were first reported by the Financial Times. A move to the Flatiron Building will mark The Office Group’s first overseas location, and signal another rival for WeWork in New York’s crowded f...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
 1185 Broadway Paul Kanavos’ Flag Luxury Group landed a $250 million loan for a planned Ritz-Carlton hotel in NoMad. The building will be constructed on two adjacent parcels with the addresses 1185 Broadway and 29 West 28th Street. Flag Luxury filed permits for the property in 2016, with plans calling for a 164,400-square-foot building with 145 rooms. Construction is currently underway. The latest Department of Buildings filings for the building are for the installation of underground plumbing and installation of fuel tanks. Once it’s built, the tower is expected to be 40 stories tall with a height of 580 feet. The lender for the new mortgage is alternative investment firm Atalaya Capital, according to records filed with the city on Friday. The company assumed the existing $50 million d...
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By Eileen Hsu, LICENSED REAL ESTATE SALESPERSON
(Douglas Elliman Real Estate)
Right now we are dreaming of a FANCY MILKSHAKE in this neighborhood episode! Especially with all of the walking done around in New York in the last few weeks of a nearly 100 degree heat wave. We are always in different NYC neighborhoods with our buyers and sellers. We also love to find the best neighborhood eats in each neighborhood. In the hot Summer days, we wanted to show you one of our favorite milkshake spots and Portuguese Sandwich shops in Midtown West. Hell's Kitchen or Midtown West is a vibrant neighborhood with fun spots and great eats. Here is a short video of some of our favorite places to stop by whene we are in the Midtown West, be sure to stop in these spots next time you visit!City Sandwich  : You will be impressed with the selection of sandwiches with tasty Portuguese i...
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By Ricardo Mello, Manhattan & Miami Real Estate Agent
(Manhattan Miami Real Estate)
 While most of the US is in a seller’s market, certain neighborhoods in Manhattan and Miami are currently considered to be buyer’s markets. This is a supply issue, with too many units coming on at once, versus a demand issue (as there is plenty of demand in our booming economy). How long will it be a buyers market for these two locations? Not long, for sure. But, buyers have become bolder and bolder when making initial offers - often at the point of offending sellers.   With that in mind, we decided to reach out the agent community across the country to find out what their best answers were to the question of: How to make a successful (and reaonable) lowball offer? Here is what agents and brokers had to say: Give the best terms All cash No Mortgage Contingency Waive inspections Fast Clo...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
A weekly feature bringing you the industry's latest intel    According to this week’s market reports, Midtown ranked as the sixth most expensive office market in the world and the late photographer Virginia Thoren’s home was the priciest residential deal in contract.   Residential Sales | Leslie J. Garfield   There were two closed sales and 14 signed contracts for Manhattan townhouses between June 9 and 22. The most expensive sale for the period was 37-39 Perry Street. The four-story property, which was the home of famous fashion photographer Virginia Thoren, was sold for $17.5 million. The most expensive contract, meanwhile, was for 110 East 76th Street, which is being sold by developer Joseph Chetrit with a last asking price of $51 million.    Sales | Olshan   There were 33 contracts ...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
The neighborhood has a staggering pipeline of 1,928 new condo units — not including those currently under contract  1 Beekman Street, 25 Park Row, and 45 Broad Street    The Financial District has undoubtedly come a long way since the turn of the millennium, when its streets went dark at the end of the workday. But while it’s had plenty of cheerleaders pushing to make it a more 24/7 neighborhood with a better residential-commercial split, the question now might be: Does it have too many condos?   There are more new condos set to come online over the next few years in the Financial District and Seaport area than in any other part of Manhattan, according to an analysis by The Real Deal, which looked at the new condo pipeline — including both unsold units (minus in-contract properties) as ...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
The neighborhood has become an outlier among Manhattan’s shopping districts, but whether that’s sustainable or replicable remains to be seen  West 14th Street between Ninth and 10th Avenues   On a recent spring day in the Meatpacking District, a group of tourists argued over dinner plans as they stepped off the High Line onto 14th Street, two girls walked into stalled traffic to Instagram the streetscape behind them and three neon-vested construction workers stood at the curb discussing the many visible changes in the neighborhood.   This all took place in front of Jeffrey New York, the pioneering luxury clothing store that Jeffrey Kalinsky opened in 1999.   “I didn’t have any money [at the time],” Kalinsky told The Real Deal,explaining why he chose this corner of Manhattan. It was also...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Second hospital to open facility at Related project  35 Hudson Yards   Another hospital is joining Hudson Yards in hopes of tapping into the expected wave of new residents and workers at the megadevelopment.   Hospital for Special Surgery is leasing 15,000 square feet at the Related Companies’ 35 Hudson Yards, Crain’s reported. The facility joins the 72-story tower’s anchor tenant, Equinox, which is opening its first hotel as well as a fitness center.   In September, the New York Post reported that Mount Sinai inked a lease at 55 Hudson Yards. The hospital announced in March that it will open an 18,000-square-foot concierge clinic that will only be available to employees of the building’s commercial tenants.   The special surgery outpatient facility will provide imaging and physical the...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Resi firm ceased operations April 19  Andrew Heiberger and 110 Fifth Avenue     UPDATED, June 20, 10:00 a.m.: Two months after Town Residential abruptly shut its resale and leasing business, its former landlord at 110 Fifth Avenue slapped the firm and its founder Andrew Heiberger with a lawsuit to recoup unpaid rent. According to the suit, filed Tuesday in New York State Supreme Court, Town surrendered possession of the 16,600-square-foot office on May 10, weeks after effectively ceasing brokerage operations. But court documents allege that Town and Heiberger, who guaranteed the lease renewal in 2013, defaulted on $438,299 in rent, taxes and other fees. The Flatiron office was Town’s first location when it launched in 2010. “It’s unfortunate that after paying over $7.7 million in rent t...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Which neighborhoods have the most new condos to burn through — and who is going to be stuck holding the bag? The Manhattan condo market is starting to feel like the beauty counter in a fancy department store — with everyone from perfume spritzers to makeup artists vying for buyers’ attention. “It almost feels like you’re taking a client to the Bloomingdale’s cosmetic counter,” said Douglas Elliman broker Carol Staab, who works in the luxury space, referring to the hard sell that developers are putting on buyers. Manhattan inventory has been piling up for three years now. And there’s an avalanche of more product about to hit. In 2019, the inventory of new condos alone is expected to hit a massive 7,900 units —well above the average for the past few years, which has hovered between 3,000 ...
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By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Zoning rules will change on side streets  The Department of City Planning on Monday kicked off the months-long process to change zoning rules in the Garment District. The agency certified a text amendment that will lift a 1987 zoning restriction in certain parts of the neighborhood. This marks the first step in the Uniform Land Use Review Procedure (ULURP), which will take several months and culminate in a vote by the City Council.Earlier this month, the city revealed revised plans to rezone the district after temporarily tabling a previous proposal. The latest plan allows owners of buildings on certain side streets in the district to convert their spaces to office use without having to preserve manufacturing space, as was required under the 1987 zoning rule. Under current zoning, owner...
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By Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher
(Feng Shui Manhattan Long Island)
Before leaving for California in May, I had one last Feng Shui Consultation in New York City. My client lived near Chelsea Market so rather then hopping on the subway, I decided to stroll along the High Line and walk over to her location. And it was well worth it. Not only was it an opportunity to get away from the bustling streets of Manhattan, it was also an opportunity for reflection. The high line holds a special place within my heart as it provided the first roots to a blossoming relationship with my now, fiance.  After exiting the high line and walking over to my clients home, I came across another beautiful sight. Sometimes just walking the streets of NYC is all you need for an enjoyable day. By doing that you allow yourself to be present with the time spent there vs running all ...
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