NYC Luxury Real Estate Blog

10 Sullivan: New Constructions, Classic Elements, and Cary Tamarkin

10 Sullivan Street New Construction Manhattan Soho

Cary Tamarkin’s buildings have been well-regarded for their understated design and contextual awareness, and the rising new construction at 10 Sullivan Street (pictured) is no exception. Noted for his superb use of robust materials and black ribbon casement windows, Mr. Tamarkin applied these same principles to 10 Sullivan, which despite its unusual footprint blends perfectly with Lower Manhattan’s loft conversions.

A Tale of 3 Ultra-Luxe Manhattan Condominiums

Manhattan Skyline New Construction Cityscape

These Manhattan new constructions push the envelope in terms of luxury living by offering top of the line amenities and the latest in ritzy finishes.

Manhattan Condo Garages: Utilitarian Space, Polished Design

443 Greenwich Street New Construction with Luxury Parking Garage

Rendering of 443 Greenwich Street's elegant parking garage.

15 Renwick – the new condo in Hudson Square with a unique marketing cast of steampunk and Victorian characters – will soon release its super-limited parking spaces to the market, and each of the three slots in the 1,000 square foot garage is expected to sell for a cool $1 million.

Manhattan's West Side: By the Water and the Art

Chelsea Galleries HL23 High Line New Constructions Manhattan

Whereas the Upper East Side has long been regarded for its luxury and polish, and the Lower East Side and East Village for their grit and countercultures, Manhattan’s West Side has been charting its popularity for quite some time, and developers are setting off projects to alleviate that demand, especially around Chelsea and Lincoln Square.

Record High Residential Spending & Foreign Investments

Foreign Investments Manhattan New Construction

Image via Flickr

The Real Deal recently reported that new residential construction cost has hit an all-time $12 billion high over the last year. Spending shot up 73 percent in 2014 to $11.9 billion, the former record even after accounting for inflation. Despite spending reaching new heights, the actual number of new units constructed in 2014 has not increased proportionally; units are being underproduced. Only 20,329 units were created last year, just 11 percent more than the year before, but far less than the 30,000 new units created annually between 2005 and 2008.

Better than Gold? NYC Luxury Real Estate Is a Solid Investment

Nordstrom Tower 225 West 57th Street Billionaire's Row New Construction Manhattan

According to Blackrock chairman Laurence D. Fink, there are but two asset classes that should be on anybody’s mind: contemporary art, and real estate – particularly in Manhattan, Vancouver, and London.  He continues that the investment value of these commodities have even surpassed gold, which has been considered throughout history to be a solid asset and investment.  Of course, gold peaked in 2011, but has since dropped by over 35 percent since then; by contrast, Manhattan real estate, especially the luxury sector, has been performing exceptionally well, which in turn is shifting demand to Brooklyn, subsequently moving more demand towards the oft-overlooked Queens market.

NYC's Land Scarcity = Building Conversions

 

360 Central Park West Rendering

360 Central Park West

New York City has always been synonymous with reinvention. As The New York Times states, “Building have been no different,” and recently, this has been especially true. In the city of dreams, every building is given the possibility of a second chance, including office towers, cathedrals, power plants, parking garages, schools, cinemas, warehouses, and even banks.

The Ultra-Luxe Baccarat Hotel and Residences

Baccarat Hotel and Residences

The world renowned crystal brand, Baccarat, is expanding its horizons by delving into the hospitality and housing with its first opening, the Baccarat Hotel and Residences, in Midtown New York.

Changes to Penn Station Area

Koreatown by Penn Station New York City New Construction Manhattan

Completed in 1910, the original Penn Station was intended to symbolize New York’s status as the most vital city in a nation that was becoming a political and economic superpower. Traveling via the station did not make you feel comfortable, it made you feel important. Yale architectural historian Vincent Scully once wrote, “One entered the city like a god; one scuttles in now like a rat,” referring to the new Penn Station. However, the neighborhood surrounding has some big changes down the road.