It’s Springtime in New York again—that short slice of heaven squeezed between the long cold winter and the long hot summer—and the real estate market appears to be sprouting green shoots in celebration. For real this time. The kind of growth that the professionals seem to think can really last. That’s certainly the take that Diane Ramirez, president and co-founder of Halstead Property, shared in a recent interview. And she has some solid evidence to back that up, unmistakable trends she has spotted that indicate a kind of vigor in the market that is sustainable. The market, she posits, has become unfrozen, people are feeling less stuck, and rather than sitting tight with what they’ve got, they’re upsizing, downsizing, and just generally moving on with their lives. “That,” she insightfully says, “is what real estate is all about.”
Last time Bruce Willis tangled with a tower, his Die Hard character escaped from the clutches of a German terrorist group with only his trusty Beretta sidearm. We hope his stay at El Dorado at 300 Central Park West, where he just picked up a co-op apartment, is less eventful.
The four-bedroom spread was rumored to be in contract for $8 million, according to New York Post, but as in The Sixth Sense, there’s a twist at the end of this purchase: Mr. Willis and wife Emma ended up paying $8.85 million for the fourth-floor unit, according to city records—a bit over the asking price of $8.695 million. (Even celebrities, it seems, can’t buy a co-op without listing their name on the need! Or maybe they just wanted the tax abatement?)
Josephina, the Lincoln Center standby, stopped serving its pre-theater dinners in 2011, leaving owner Louis Lanza with only one Upper West Side location—Josie’s West. And now it appears that Mr. Lanza is downsizing his neighborhood housing as well.
Mr. Lanza has sold his penthouse spread at The Fitzgerald for $3.32 million, city records show.
But he’s not moving out just yet. Mr. Lanza owned quite a cut of real estate at 201 West 74th Street—not only the three-unit penthouse combo, but also another, separate unit in the building. Some were passed down to Mr. Lanza by his parents, and some he purchased himself. Hey, there’s nothing wrong with knowing what you like.
As usual, the $4 million+ housing market in Manhattan stands strong—thanks in part to the record-setting $88 million dollar purchase a few months ago—but the rest of Manhattan continues to slump.
“For the first time since the recovery, the U.S. is growing at a quicker pace than New York City,” Greg Heym, an economist at Brown Harris Stevens and Halstead, told the Journal.
499 Park Avenue
A group of residential brokers hardly needs schooling on the importance of location. Now Halstead will move its flagship office to a prime spot at Park Avenue and 59th Street.
Access to public transportation was a key consideration, according to an internal memo sent to staffers.
In addition to the more utilitarian Read More
Several months ago this column reported that Police frontman Sting’s duplex apartment at 88 Central Park West finally went into contract after being on the market for nearly four years, originally listed in 2006 for $24.9 million with the late Linda Stein, broker to the stars who was horrifically slain by her Read More
Robert Lynn, who’s managing sales for the new condos at 540 West 28th Street, has a thing for white oak floors.
“I’ve been doing this for 12 years, and I’ve never seen a developer go with floors like this,” he said. “I’ve had experienced brokers in here be blown away by these floors.”
All 91 Read More
According to city records, Thrillist’s Ben Lerer, founder of the daily email newsletter geared toward a fine-tuned combo of urban mountain man and manicured metrosexual, sold his Soho loft for $1.65 million … to his dad! The senior Mr. Lerer, Kenneth, is a fellow new-media mogul and co-founded the Huffington Post with Arianna Huffington. Read More
“This was a real estate office, but it’s turned into my junk collection,” explained Leonard Heyward, a Harlem native and licensed broker.
Heyward Real Estate (“Your Bridge to Elegance,” says the front window) occupies the walk-in-closet-sized storefront of 115 Edgecombe Avenue. Next door, at 117, the Hamilton Lofts development was hosting a tour of Read More