New York City Real Estate Blog Archives for March 2011

Peace On The Park: One Madison Litigants Settle, So What's Next?

One Madison New York City Luxury Condos for SaleWe are not, by nature, a morbid bunch here at New Construction Manhattan. We love us some New York City, we care about Manhattan real estate, and we're not so much in the bad news business as we are in the news about NYC real estate/helping people find luxury condos in NYC business(es). But while we're generally averse to tales of woe in the NYC real estate market, we find ourselves writing about One Madison -- formerly known as One Madison Park, and still one of the most star-crossed luxury condos in New York City -- fairly often. Why is this? Several reasons. One is that One Madison< is a (as we have noted here before) pretty amazing looking new construction condo, and could yet become one of the most impressive high-end condominiums in NYC. Another reason, though, is that One Madison is just interesting. Already a striking part of the greater Gramercy Park condo scene, One Madison is a building in limbo that could become a blockbuster once it finally figures some things out. Unfortunately for One Madison Park, though, all that figuring-things-out has been taking place in court, thus far. Fortunately, though, things at One Madison Park just might be getting figured out.

Big Money: Surge In NYC Luxury Condo Market Is Officially Official

New York City Luxury Condo Market It didn't exactly come out of nowhere, but when the Manhattan condo market experienced an absolutely boffo week back in the middle of February, real estate watchers took notice. (Us included) As regular readers of the New Construction Manhattan blog know well, we've spent the last few months watching the marketplace for NYC condos bloom back into health, then slip into sudden frailty, and then return the next week (or month, or quarter) to its previous 10-feet-tall-and-bulletproof status. But while the Manhattan condo market is inarguably improving, it also had a long comeback ahead of it given the dark days of 2009 and 2010 -- well, dark for sellers: it was something of a buyer's market if you were searching for NYC condos. So while recent months have shown steady improvement, it has been hard to totally believe the good news about NYC condos. "Even the most Pollyanna-ish real estate watchers usually added a mouthful of caveats to any declaration of victory," Sarah Kershaw writes in the New York Times. We certainly did. But as February's NYC condo sales stats continue to filter in, it's getting harder not to believe that the market for high-end Manhattan condo listings is all the way back.

Star Architect, Superstar Condominium: I.M. Pei-Designed Luxury Condo The Centurion Looks Like A Hit

The Centurion NYC Luxury Condos for SaleThe recent boom in luxury condo construction saw plenty of new entrants hit the Manhattan skyline, with more than a few of these new condo listings bearing the brands of some heavyweight architects. With all the attention given to deserving star-architect condominium listings such as Jean Nouvel's Nouvel Apartments (in Chelsea) and Robert A.M. Stern's 15 Central Park West (at, yes, 15 Central Park West, on the Upper West Side), as well as Frank Gehry's luxury rental at 8 Spruce Street, I.M. Pei's first NYC condominium seemed to slip through the cracks somewhat. But The Centurion, the first Manhattan condominium from the Pritzker Prize-winning architect, is belatedly getting the attention it deserves -- and selling out its condos for sale at a brisk rate. It took longer than usual, but this superstar architect's first Manhattan condominium is increasingly looking like one of the superstar apartment listings in Midtown West.

(Madison Square) Garden Apartment: Carmelo Anthony's Apartment Search Brings Him To The Upper West Side

Three, two, one… that’s how long it takes for freshly signed New York Knicks Carmelo Anthony to win a basketball game. But while Melo's a great talent, all those big buckets came thanks to a lot of practice. Carmelo Anthony's Upper West Side apartment searchThat work ethic should serve Melo well during his NYC condo search, since finding the right apartment in New York City takes a lot of effort as well -- whether you're Carmelo Anthony or someone shorter and less famous trying to find the right condominium in Manhattan. When he's not making shots for his employers, the Knicks’ new superstar -- and wife Alani "La La" Vazquez -- are tirelessly scoping out places in Manhattan. And although the New York Knicks have made a huge investment in the former Nugget all-star, Anthony is apparently not ready to invest in New York real estate and was originally searching for a rental apartment in a downtown condominium -- something in the, um, $30,000 a month range. What, it’s not that much if you're getting paid like he is. Now, though, Melo's sites have shifted uptown, and he has reportedly identified two all-star Upper West Side condo listings as his new top choices.

Park Avenue Apartments For Everyone: New York Times Charts The Rise of Park Avenue South

Park Avenue NYC Luxury ApartmentsA Park Avenue apartment is a Park Avenue apartment, but when people brag, dote and obsess on the idea of a Park Avenue condominium, they're not talking about the comparatively modest stretch of Park Avenue south of Grand Central Station. Long considered a poor relative of the “real” Park Avenue of the Upper East Side, Park Avenue South has lately stepped out as an address worth attention in its own right -- both because apartments for sale on Park Avenue South offer some decent value per square foot, and has lately come into its own as a place to live and socialize. Convenient, walkable and steadily breaking its associations with unromantic Midtown East, Park Avenue South is finally getting its due.