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The Office of Metropolitan Architecture (OMA) has nearly completed work on their new 56-story residential tower in San Francisco, The Avery. To celebrate, the firm has unveiled a series of new photographs of the spaces that have so far been completed, including the tower's exterior, amenity areas... View full entry
The number of homes that were flipped was actually down 8% from the previous year to a three-year low. And the number of investors engaging in home flipping has dropped 11% over the past year. — Marketwatch.com
Life is hard for a home-flipper these days. As real estate prices have ballooned across the country, profit margins for renovated and re-sold homes have narrowed. As a result, the number of homes being flipped has fallen markedly in recent years. What does it mean? Todd Teta, chief product officer... View full entry
Manhattan’s latest crop of new luxury developments continues to attract a steady stream of buyers.
At the ultra-pricey 220 Central Park South in Midtown, the grand limestone skyscraper designed by Robert A.M. Stern Architects, four more units officially sold, including New York City’s most expensive closing in May: a three-bedroom aerie for nearly $26.5 million.
— The New York Times
The NYT's Vivian Marino provides an update on the biggest recent luxury real estate transactions in New York City with notably pricey purchases at Robert A.M. Stern's 220 Central Park South and 250 West 81st Street towers and also at the newly opened Hudson Yards mammoth development. "Philip... View full entry
Two state agencies that had been embroiled in a yearslong impasse over how to develop the last site at the World Trade Center appear to have resolved their differences and are planning to bring the parcel to market.
The Port Authority and the Lower Manhattan Development Corp. have reached a deal to release a request for proposals in the coming months for 5 World Trade Center
— Crain's New York
Lower Manhattan Development Corporation (LMDC) head Holly Leicht explained in a meeting that "after quite a lengthy period of time of negotiation, we executed a memorandum of understanding with the Port, the LMDC and the city to move forward on an RFP for Site 5, which will be our last major site... View full entry
After spending months idled on the real estate market, José Oubrerie's Miller House in Kentucky exchanged hands twice in late 2018. As noted on real estate website Zillow, the home sold in September 2018 for $415,000, significantly lower than the $490,000 sale that had taken place just one... View full entry
One of the largest potential office buildings in New York City has long been in the works on the site of the Hotel Pennsylvania, at 401 Seventh Avenue, with renderings for a soaring supertall first released last decade [...] the latest on Vornado’s newest vision for the site, which would place Facebook within a massive 2.8-million-square-foot tower designed by Rafael Vinoly, dubbed “Penn15” in the brochure. — New York Yimby
Renderings of the 1,400-foot structure paint a new picture for Facebook's new office building plan. It's been stated that "Facebook has already publicly committed to One Madison Avenue in NoMad, so this ideation may already be moribund." Despite the recent commitment placed by Facebook, Vornado... View full entry
A growing number of entrepreneurs are leading the way, challenging our antiquated housing system and creating new ways for housing to be more equitable and affordable across the board.
However, they need support navigating the complex policy environment and accessing the necessary capital. The Housing Lab will advise promising ventures while they evolve their business models and connect them with the industry leaders and capital to achieve greater scale.
— The Terner Center for Housing Innovation
In California, the collapse of proposed statewide legislation that would have eliminated single-family zoning and could have boosted density along transit corridors has left housing activists scrambling. While state legislators regroup to tackle the structural issues, like zoning, underpinning... View full entry
The San Diego City Council voted unanimously to approve “Campus At Horton” on Monday. It's a redevelopment plan that would turn Horton Plaza into a tech hub.
Stockdale Capital Partners, an LA-based real estate firm, bought Horton Plaza from Westfield back in August with known intentions of redevelopment. When Stockdale announced the purchase, the firm said their new tech hub plan for Horton was expected to create 4,000 jobs, and generate $1.8 billion each year.
— KPBS
With the iconic Jon Jerde-designed Horton Plaza mall in San Diego poised for transformation, one of Southern California’s key works of postmodern urbanism is soon to be lost. Horton Plaza in San Diego, Image ©CoolcaesarIn designing the superblock mall in 1985, Jerde, who was referred to as the... View full entry
Topping out at 720 feet this week, Extell Development Company's Brooklyn Point is on its way to becoming the NYC borough's tallest building. Designed by Kohn Pedersen Fox with custom interiors by Katherine Newman, the 68-story tower will be located at 138 Willoughby Street and within City... View full entry
As the tech companies Uber, Airbnb, Lyft and Pinterest prepare to go public, thousands more instant millionaires are expected to flood the market in San Francisco and Silicon Valley. All the while, the middle class and working poor are scrambling for shelter. — The Guardian
For decades, Open Concept, and the togetherness-loving, friend-filled lifestyle it was supposed to bring, has been a home buyers’ religion, the one true way to live. Go to Houzz, the home remodeling site, type in “open concept,” and up come 221,569 photos. Over on HGTV, DeRon Jenkins, costar of the popular “Flip or Flop Nashville,” will tell you, as he recently told the Globe, that an open floor plan “allows the love to flow.” But now, experts say, people are starting to openly yearn for walls. — Boston Globe
Uninterrupted space. This is what real estate agents, interior designers, and almost every host on HGTV have promoted for the past decade. However, design experts are saying that people are beginning to miss walls. Homeowners realize they don't want to live in this "fantasy of uninterrupted... View full entry
The high-end condo building at 520 W. 28th St. along the High Line that the company completed roughly two years ago appears so far to be a rare bust.
According to property records, only 16 of the building's 39 units have sold, a roughly 40% sell through that shrinks to an even smaller percentage when measured by square footage. That's because the building's largest and most expensive apartments, including its three penthouse units, all remain unsold.
— Crain's New York Business
How 'bout this one? Nothing? Photo: Hufton+Crow. View full entry
The “Flintstones” home in northern California appears to take its architectural cues from the town of Bedrock. The experimental house was built in the 1970s using a technique that involved spraying concrete to create curved walls. The result is a building where Fred and Wilma would feel at home, and it has become a landmark for drivers passing on I-280. — The Guardian
Neighbors of the quirky home in the affluent town of Hillsborough in Northern California aren't exactly fans of the prehistoric-looking architecture, nor the collection of large metal dinosaur and woolly mammoth sculptures on the property, and have sued the current owner, businesswoman Florence... View full entry
The wait is over. New York's Hudson Yards, which took nearly 20 years of planning and development, finally opens today. In 2001, the project's name and role in a potential 2012 Olympic bid were brought to the public eye. Between May 2004 to December 2010, Hudson Yards experienced a series of... View full entry
Aby Rosen’s RFR Holding is purchasing the Chrysler Building, one of the world’s most recognizable skyscrapers [...]
One source with knowledge of the talks said that sale price was higher “but not much higher” than the bids in the $100 million-range [...]
The price is several notches lower than the $800 million the Abu Dhabi fund paid Tishman Speyer for a 90-percent stake in the tower in 2008.
— The Real Deal
When the Chrysler Building, arguably one of New York City's most beloved architectural landmarks, came up for sale again earlier this year, speculations emerged what the value of such an iconic, yet aging, real estate trophy would be. The WSJ now confirmed that the 1930s Art Deco skyscraper... View full entry
