Archinect - News 2014-07-30T23:42:36-04:00 International Elite Using New York Real Estate to Stash Money Nicholas Korody 2014-07-01T17:47:00-04:00 >2014-07-02T04:55:12-04:00 <img src="" width="514" height="331" border="0" title="" alt="" /><em><p>According to data compiled by the firm PropertyShark, since 2008, roughly 30 percent of condo sales in large-scale Manhattan developments have been to purchasers who either listed an overseas address or bought through an entity like a limited-liability corporation, a tactic rarely employed by local homebuyers but favored by foreign investors [...] &ldquo;The global elite,&rdquo; says developer Michael Stern, &ldquo;is basically looking for a safe-deposit box.&rdquo;</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> New details on Tadao Ando's upcoming residential project in NYC's NoLIta Justine Testado 2014-06-19T21:12:00-04:00 >2014-07-16T16:58:26-04:00 <img src="" width="514" height="343" border="0" title="" alt="" /><p>The first renderings are out for <a href="" rel="nofollow" target="_blank">Tadao Ando</a>'s first project in New York City, 152 Elizabeth Street, a 32,000 sq.ft "ultra-luxury" condominium building to be constructed at the corner of Kenmare and Elizabeth Street in NoLIta in Manhattan. New York-based luxury residential development firm Sumaida + Khurana commissioned the acclaimed Japanese master architect <a href="" rel="nofollow" target="_blank">this past March</a>.</p><p><img title="" alt="" src=""></p><p>152 Elizabeth Street will add to the changing state of the NoLIta neighborhood, whose moniker stands for "North of Little Italy." In recent years, the neighborhood's historically industrial character has become a trendy hotspot for real estate, boutiques, restaurants, and bars.</p><p>Based on Sumaida + Khurana's renderings, the building's design will include Ando's signature elements like poured-in-place concrete, galvanized steel, and an abundant use of glass. Michael Gabellini and Kimberly Sheppard of <a href="" rel="nofollow" target="_blank">Gabellini Sheppard Associates</a> will work on the interiors and serve as Architect of Record.</p><p><img title="" alt="" src=""><img title="" alt="" src=""></p><p>At 7 stories tall and capped...</p> Now on auction in Detroit: Homes starting at $1,000 Alexander Walter 2014-05-19T13:57:00-04:00 >2014-05-19T15:48:58-04:00 <img src="" width="514" height="388" border="0" title="" alt="" /><em><p>No absentee landlords or faraway investors allowed. Only Michigan residents and businesses [...] The idea is to lure neighbors, not investors or opportunists (#NeighborsWanted is the city's hashtag for the program). And that does not include out-of-state urban homesteaders dreaming of cheap property in Detroit. Right now, the land bank is focusing on otherwise intact neighborhoods, as opposed to those parts of town where vacant parcels outnumber the residents who've stuck around.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Real Estate and the Responsibility of Architects Places Journal 2014-05-19T13:44:00-04:00 >2014-05-28T20:57:25-04:00 <img src="" width="514" height="355" border="0" title="" alt="" /><em><p>To sever instances of &ldquo;architecture&rdquo; from the deaths of indentured construction workers on a building site in Qatar, or from the property lines measured out at Twin Lakes, is an elemental act, comparable to flushing a toilet, turning on the water, or switching on a light... Understanding these infrastructures, and contesting their hegemony with that knowledge, is therefore as basic as it gets.</p></em><br /><br /><p>For the 2014 Venice Architecture Biennale, curator Rem Koolhaas has chosen as his theme "fundamentals," meaning the "inevitable elements of all architecture ... the door, the floor, the ceiling, etc." To this list Reinhold Martin proposes Fundamental #13: real estate, the land itself, without which "all the rest is inconceivable." He then asks difficult questions about architects' complicity in the uses to which land is put by the "transnational, translocal, global and otherwise border-violating and border-producing system of real estate."</p> All-cash deals account for nearly half of all home sales Alexander Walter 2014-05-09T13:10:00-04:00 >2014-05-16T21:18:34-04:00 <img src="" width="514" height="289" border="0" title="" alt="" /><em><p>All-cash deals hit a record 43% of home sales during the first three months of 2014, according to RealtyTrac. That's up from 19% a year earlier and the highest level reported since RealtyTrac began tracking the deals in early 2011. The jump is due to two main factors: strict lending standards that make it difficult to get a mortgage and intense buyer competition.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> World's largest "quantified community" being developed in NYC's Hudson Yards Amelia Taylor-Hochberg 2014-04-28T14:17:00-04:00 >2014-05-06T22:13:59-04:00 <img src="" width="514" height="343" border="0" title="" alt="" /><em><p>When all stages are completed, the 65,000 people daily who pass through the Hudson Yards&rsquo; office towers, residences, shops, restaurants, hotel, public school, and public open space will contribute to a massive stream of data intended to help answer the big questions about how cities of the future should be managed. [...] &ldquo;It really started from the question: If we could know anything about the city, what would we want to know and how could we do a better job at measuring the pace of life?&rdquo;</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Interest in a Property Grows With One Key Addition: An Architecture Prize Alexander Walter 2014-04-08T13:23:00-04:00 >2014-04-14T19:14:25-04:00 <img src="" width="514" height="344" border="0" title="" alt="" /><em><p>When he won the Pritzker Prize on March 24, the Japanese architect Shigeru Ban had a very busy day.[...] The day after Mr. Ban won the Pritzker, the Douglas Elliman broker Holly Parker had a very busy day, too. &ldquo;The phone started ringing, and it just hasn&rsquo;t stopped,&rdquo; said Ms. Parker, who, thanks to Mr. Ban, has won a prize of her own. Since October 2012, she has been trying to sell [...] condominium inside the Metal Shutter Houses in West Chelsea, Mr. Ban&rsquo;s only completed project in New York.</p></em><br /><br /><p>Previously: <a href="" rel="nofollow" target="_blank">Shigeru Ban named as 2014 Pritzker Prize Laureate</a></p> London's Current Obsession: Its Own Identity Crisis Alexander Walter 2014-03-12T14:54:00-04:00 >2014-03-12T19:19:03-04:00 <img src="" width="514" height="413" border="0" title="" alt="" /><em><p>Is London in danger of losing its soul? The question may sound melodramatic, but this is just what many of the British capital&rsquo;s commentariat have been discussing over the past few days. [...] Barely a day goes by without a local news story about the phenomenal rise of London property values. In just the past few weeks, we've learned that price levels are "approaching madness." [...] London buyers start to bid consistently 25 percent above the asking price.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> A global property trend for architecture as logo Archinect 2014-03-10T18:29:00-04:00 >2014-03-10T18:29:19-04:00 <img src="" width="250" height="376" border="0" title="" alt="" /><em><p>London&rsquo;s 200 new towers are something different. Virtually every one contains &ldquo;luxury&rdquo; apartments. This new residential upsurge in London is echoed across the Atlantic in New York &ndash; as property in both cities becomes a global reserve currency. New York, once the city of the commercial skyscraper, has become the city of the condo tower and the penthouse. But where does that leave commercial architecture?</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Gensler brings ‘hackable’ buildings to the real estate market Amelia Taylor-Hochberg 2014-03-10T15:26:00-04:00 >2014-03-10T15:26:32-04:00 <img src="" width="514" height="288" border="0" title="" alt="" /><em><p>Gensler recently began a research project focused on Los Angeles and D.C., &ldquo;Hackable Buildings &ndash; Hackable Cities,&rdquo; exploring how building owners can adapt their properties to meet changing demand. &ldquo;It really started with some research that we were doing on the evolution of office buildings,&rdquo; said Raffael Scasserra, a Gensler principal. &ldquo;What we were looking at is what is that evolution like? What is it transforming to and what are buildings going to be?&rdquo;</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> MoMA will preserve Folk Art Museum's facade Amelia Taylor-Hochberg 2014-02-12T14:32:00-05:00 >2014-02-13T13:09:39-05:00 <img src="" width="514" height="343" border="0" title="" alt="" /><em><p>Contrary to what you may have read lately, the Museum of Modern Art is intent on carefully preserving the former American Folk Art Museum next door. At least, the part of it that is most recognizable to the public: an 82-foot-high sculptural ensemble of 63 panels, cast in a gorgeous copper-bronze alloy [...] &ldquo;We will take the facade down, piece by piece, and we will store it,&rdquo; Glenn D. Lowry, the director of the Museum of Modern Art, said in an interview last week.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Surveying the top cities to “flip to hipsters” Nam Henderson 2014-02-12T10:04:00-05:00 >2014-02-12T11:04:48-05:00 <img src="" width="514" height="1251" border="0" title="" alt="" /><em><p>The low hipster homeownership rate of the past five years translates into a market of potentially millions of first-time homebuyers looking to find a home that matches their budget and fits into their hipster lifestyle. Real estate investors who want to tap into that trend should start with location: finding homes in communities with a heavy hipster demographic, and that are affordable for that demographic.</p></em><br /><br /><p>Daren Blomquist, RealtyTrac Vice President examines the top 20 zipcodes for flipping homes to hipsters.</p><p>h/t&nbsp;<a href="" rel="nofollow" target="_blank">AlJavieera Sue&ntilde;os</a></p> SF gentrification doesn't have to be bad Amelia Taylor-Hochberg 2014-01-24T13:56:00-05:00 >2014-01-28T15:10:42-05:00 <img src="" width="514" height="390" border="0" title="" alt="" /><em><p>San Francisco is practically the reductio ad absurdum of gentrification: It&rsquo;s already land limited on three sides by water, and the massive rise of the tech industry over the last few decades has dramatically increased both the population of the area and its wealth. [...] But the blame shouldn&rsquo;t go to the tech companies or their employees moving to San Francisco, however despicable some might be. Blame San Francisco for being pleasant, and its policymakers for being foolish</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Crowdfunding for investors may soon get easier Alexander Walter 2014-01-21T13:11:00-05:00 >2014-01-27T19:30:03-05:00 <img src="" width="514" height="286" border="0" title="" alt="" /><em><p>[...] developer Ben Miller says, until now, it&rsquo;s been impossible for local people to invest in development right across the street. &ldquo;Who owns your environment? You don&rsquo;t know,&rdquo; he says. &ldquo;Who&rsquo;s building your environment, who&rsquo;s building your city? Not you.&rdquo; Miller is co-founder of the group Fundrise, which has started selling shares of private real estate projects to the public online. [...] First they bought 1351 H Street with private capital, then crowdfunded about a third of it.</p></em><br /><br /><p> Related: <a href="" rel="nofollow" target="_blank">Crowdfunding Startups Let You Be Your City's Urban Planner</a></p> The Hangover: Cantilevered Buildings of New York Archinect 2014-01-13T17:47:00-05:00 >2014-01-14T12:29:35-05:00 <img src="" width="514" height="340" border="0" title="" alt="" /><em><p>&ldquo;In New York, development is a three-dimensional chess game,&rdquo; said Dan Kaplan, a senior partner at FXFowle Architects, &ldquo;and the reason we&rsquo;re seeing an increase in the use of cantilevers above neighboring buildings is linked to the complexity of finding a site that can utilize all available development rights.&rdquo;</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Curbed asks 6 architecture critics to share stories of their first NYC apartment rentals Archinect 2013-11-20T12:19:00-05:00 >2013-11-25T22:01:31-05:00 <img src="" width="500" height="332" border="0" title="" alt="" /><em><p>The creaky staircase was covered in plastic, as was the living room furniture, but the bones were still there: pressed paper wainscoting in the hall, thickly painted moldings. We often got in trouble for walking too loudly in our clompy shoes up to the top floor at night.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Storage Space in New York Now Costs More Than a Typical American Home Archinect 2013-08-27T15:03:00-04:00 >2013-08-27T15:08:33-04:00 <img src="" width="514" height="743" border="0" title="" alt="" /><em><p>It&rsquo;s a cellar&rsquo;s market. New Yorkers are spending more than the price of the average American home &mdash; on storage units. Tribeca&rsquo;s 56 Leonard just sold a 200-square-foot unit for $300,000. That&rsquo;s $1,500 a square foot for a metal cage in the basement of the future luxury skyscraper.</p></em><br /><br /><p> Over at <em>The Atlantic Cities</em>, editor Emily Badger tried to put things in perspective and created <a href="" rel="nofollow" target="_blank">this helpful little chart</a> of median home prices in a few U.S. metropolitan areas (find a screenshot of the interactive chart below).</p> <p> More on 56 Leonard Street in the Archinect News:</p> <ul><li> <a href="" rel="nofollow" target="_blank">Work to Begin on Herzog &amp; de Meuron's 56 Leonard St. Tower</a></li> <li> <a href="" rel="nofollow" target="_blank">Herzog &amp; de Meuron skyscraper up for auction on Ebay</a></li> <li> <a href="" rel="nofollow" target="_blank">Showy Condos by H&amp;deM, Koolhaas Remake NYC Skyline</a></li> <li> <a href="" rel="nofollow" target="_blank">56 Leonard by Herzog &amp; de Meuron</a></li> </ul> Architects’ Renderings as a Weapon in Real Estate Archinect 2013-08-26T15:33:00-04:00 >2013-08-27T12:26:45-04:00 <img src="" width="514" height="301" border="0" title="" alt="" /><em><p>An architectural rendering is a premonition of sorts, an illustration of what a park or a bridge, an apartment building or an office tower, might look like, even before the first splash of concrete licks the ground. But its most important mission is not to show the girth of a building&rsquo;s footprint or the shape of the windows; it is to gin up enthusiasm for a project, or to incite resistance. So the real purpose of these drawings is not to predict the future. Their real goal is to control it.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Cave Collector in Minnesota Hunts for Additions to His Empire Archinect 2013-08-26T12:10:00-04:00 >2013-08-26T12:11:42-04:00 <img src="" width="446" height="500" border="0" title="" alt="" /><em><p>Since the mid-1980s, Mr. Ackerman has been traveling to southeastern Minnesota from his home in the Twin Cities area to explore and acquire caves. He is the largest private cave owner in Minnesota and might be the largest in the country, but nobody is certain because not all of his caves have been fully explored to determine their extent.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Los Angeles’s Endangered Modernist Homes Archinect 2013-08-19T09:02:00-04:00 >2013-08-26T18:34:44-04:00 <img src="" width="514" height="410" border="0" title="" alt="" /><em><p>&ldquo;An economic downturn is always a good thing for preservation,&rdquo; says Regina O&rsquo;Brien, chairperson of the Modern Committee of the Los Angeles Conservancy. &ldquo;A lot fewer developers are making a lot less money, and therefore they have a lot less motivation to pursue these profit-oriented flips. But the problem is that the opposite is true when the market picks back up.&rdquo;</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Design Museum sells Thames-side home to architect Zaha Hadid Archinect 2013-07-09T19:04:00-04:00 >2013-07-15T19:12:42-04:00 <img src="" width="514" height="386" border="0" title="" alt="" /><em><p>The Design Museum will remain in the building until the move in 2015. Deyan Sudjic, the museum's director, said: "Whilst we are sad to be leaving Shad Thames we are leaving the building in the best possible hands..." In a statement, Hadid said the building would be an opportunity "to consolidate our archive in a single location". It would also be used for architecture exhibitions where "the research and innovation of global collaborations in art, architecture and design" could be put on display.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> The Aesthetics of Ikea-fying Los Angeles Archinect 2013-07-03T11:18:00-04:00 >2013-07-08T21:22:06-04:00 <img src="" width="514" height="386" border="0" title="" alt="" /><em><p>The houses aren't difficult to spot. They usually follow some variation of the following pattern: gray or greenish-gray paint, white or brick red trim, a colorful door -- mint green, orange, red -- and sometimes a colorful accent mailbox. Instantly recognizable horizontal wood-slat fencing is the final touch.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Meet Zhang Xin, a Chinese real estate mogul who's richer than Oprah Archinect 2013-07-02T18:31:00-04:00 >2013-07-08T18:09:47-04:00 <img src="" width="300" height="169" border="0" title="" alt="" /><em><p>Zhang, a Chinese real estate developer, is the seventh richest self-made women in the world, worth $3.6 billion, according to Forbes. She's worth $800 million more than Oprah Winfrey, the world's best known self-made female billionaire. Not only does Zhang's rags-to-riches story mirror that of China itself, but it is Zhang who has shaped much of the country's modern urban landscape, with the logo of her company SOHO China, on the side of buildings wherever you turn in Beijing.</p></em><br /><br /><p> <img alt="" src="" title=""><br><em>Galaxy SOHO, designed by Pritzker Prize winning architect Zaha Hadid for Zhang' SOHO China, was built in 2012 on a 50,000 square meter plot in central Beijing. It was Hadid's first building in Beijing.</em></p> Why Buy A House When You Can Buy A Mountain? Alexander Walter 2013-06-18T13:03:00-04:00 >2013-06-24T21:50:35-04:00 <img src="" width="514" height="289" border="0" title="" alt="" /><em><p>It's not your everyday real estate deal. A team of young entrepreneurs persuaded about 50 deep-pocketed investors to help them purchase a mountain. The deal just closed in April, and development on Utah's nearly 10,000-acre Powder Mountain is now underway. [...] "We were inspired by the core concepts of the Sundance Film Festival and the Aspen Institute. You can build place around a shared ethos."</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Donald Judd’s SoHo Loft Opens After $23 Million Makeover Archinect 2013-05-31T12:05:00-04:00 >2013-06-04T16:33:35-04:00 <img src="" width="514" height="343" border="0" title="" alt="" /><em><p>Donald Judd bought 101 Spring Street, an 1870 cast-iron building, in 1968 for $68,000. He stripped the dilapidated building down to its plaster walls and wood floors, illegally removing distractions like fire sprinklers. Then Judd (1928-1994) spent decades turning the spaces into a showcase for his art and a place to rest his head on a bed made of wood planks. It&rsquo;s carefully related to the colored tubes by Dan Flavin that march across the room, echoing the rhythm of a gorgeous row of windows.</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Architects take rare dive into politics Archinect 2013-05-30T20:25:00-04:00 >2013-06-04T15:28:17-04:00 <em><p>After dabbling at the edges for political discourse for several years, the AIA's New York chapter has jumped in with both feet by releasing this week its first-ever mayoral platform. "We just felt these issues were too important to stand on the sidelines anymore," said Jill Lerner, a principal KPF and the chapter's president. "Whether it's zoning and building codes or sustainability issues or climate change and Sandy, politicians set the agenda for how the city gets built."</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Luxury Flats Planned for Derelict Nazi Resort Orhan Ayyüce 2013-05-27T19:08:00-04:00 >2013-05-28T08:29:57-04:00 <img src="" width="514" height="326" border="0" title="" alt="" /><p> With so much discussion going on with former Nazi Party relics these days, German developers are trying to revive a valuable real estate, the Nazi built Prora resort complex which served to Hitler's upper ranks. Once it is fixed and put on the market, it will be called "Sea Symphony" with a slogan, "Awakened with a kiss and beautifully renovated."</p> <p> <a href="" rel="nofollow" target="_blank">Der Spiegel</a></p> The Pleasures and Pitfalls of Frank Lloyd Wright Homes Archinect 2013-05-20T18:22:00-04:00 >2013-05-22T16:33:03-04:00 <img src="" width="514" height="315" border="0" title="" alt="" /><em><p>For those willing to accept the challenge of owning a dwelling designed by America's most-famous architect, there are about 20 Wright homes currently up for sale in eight states. That's the largest number in recent years. Those on the market now range from a six-bedroom Illinois home listed at $649,000 to a sprawling Montana ranch with a price tag of $5.6 million. "It is a good time to buy a Wright house because there is a variety of prices and locations,'' said Janet Halstead...</p></em><br /><br /><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" ""> <html><head><meta></head></html> Eisenman's House VI, Venturi's Philadelphia House, and Louis Kahn’s Esherick House all set to hit the market Archinect 2013-05-01T18:18:00-04:00 >2013-05-02T10:35:09-04:00 <img src="" width="514" height="338" border="0" title="" alt="" /><em><p>Three of the most important modernist houses in the Northeast, including the 1964 house Robert Venturi designed for his mother, have been (or will soon be) put up for sale by their long-time owners, two of them without covenants that would ensure their preservation.</p></em><br /><br /><p> <img alt="" src="" title="">Venturi's Philadelphia House</p> <p> <img alt="" src="" title=""><br> Louis Kahn&rsquo;s Esherick House<br> &nbsp;</p> A Motor City Missionary Nam Henderson 2013-04-26T17:38:00-04:00 >2013-04-26T17:39:42-04:00 <img src="" width="514" height="358" border="0" title="" alt="" /><em><p>According to academics like Brent D. Ryan, author of &ldquo;Design After Decline: How America Rebuilds Shrinking Cities," it is one of the most ambitious privately financed urban reclamation projects in American history.</p></em><br /><br /><p> Earlier this month David Segal traveled to Detroit to look into the efforts/urban boosterim of Dan Gilbert, chairman of Quicken Loans. Using his real estate company, Bedrock Real Estate Services, Mr. Segal is renovating properties, building apartments and wooing corporate tenants. The goal is to remake Detroit (or at least some of it's downtown) into a high-tech hub, full of the 'creative class', high culture and young entrepreneurs. Mr. Segal also explored the context and cause for the current crisis and interviewed some locals who worry about the creation of "two Detroits".</p>