Follow this tag to curate your own personalized Activity Stream and email alerts.
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
New details and renderings have been released for 35 Hudson Yards, set to be the tallest residential tower in the Hudson Yards neighborhood at over 1,000 feet. The boutique apartments come with a wide array of in-house lifestyle services, some provided by the Equinox Hotel, which is part of the development. David Childs and Skidmore Owings & Merrill are the architects, while interior design is being led by Tony Ingrao. — New York YIMBY
To make 35 Hudson Yards your new home address, be prepared to open the checkbook extra wide — two-bedroom condos start at $5 million, while the average unit of the overall 134 apartments will set you back $11 million ($4,100 per square foot). The three penthouses have yet to be priced, reports... View full entry
The economy is headed for a slowdown, but its effect on the housing market won’t be as tumultuous as the downturn that led to the Great Recession, Metrostudy chief economist Mark Boud told a standing room-only audience today at the 2019 Metrostudy Housing Outlook Breakfast.
Boud sees overinflated housing prices causing bubbles in some hot markets where affordability is a top issue.
— Builder
In his recent talk, Metrostudy chief economist Mark Boud points out the economic indicators that will bring about the inevitable correction to the current boom cycle but does not predict a collapse of the housing market as dire as in the years following the 2008 financial crisis. "We predict that... View full entry
On March 15, after 12 years of planning and six of construction, the Related Companies will open the gates to its new $25 billion enclave [...] Besides being big, Hudson Yards represents something fundamentally new to New York. It’s a one-shot, supersized virtual city-state, plugged into a global metropolis but crafted to the specifications of a single boss: Related’s chairman, Stephen Ross — NY Magazine
New York's new Hudson Yards is a preview of what major cities may look like in the next few years. Upon first glance, the new complex oozes a distinct look. Some might call it progressive luxury design, others may think otherwise. However, the 12 year project has several people looking to stake a... View full entry
Preservation advocates, including Docomomo US, have come out in strong support of retaining the site's unique postmodern elements, writing letters and urging the new owner, Civic San Deigo, the local economic development entity, and the San Diego Historical Resources Board to evaluate the project further and consider its historic significance. — Docomomo
To some Horton Plaza may appear to be an odd mix match of colors and structural directions, but to others, this postmodern complex is an architectural relic that should be preserved. Opening its doors in 1985, the plaza was designed as a place that would help revitalize San Diego's downtown... View full entry
A state lawmaker is gunning for more aggressive restrictions on the vast mechanical voids developers often abuse to boost their buildings’ heights as a “more robust” solution to the de Blasio administration’s recent zoning amendment. [...]
Current zoning exempts mechanical voids from a building’s floor-area ratio (FAR)—a given property’s square footage—and puts no height limits on those spaces.
— Curbed NY
"Luxury developers often exploit this loophole in residential towers to hike up the price for apartments on higher floors," explains Curbed NY one reasoning behind the newly introduced bill by New York State Assembly member Linda Rosenthal. View full entry
In Florida, you will see a bewildering mix of optimism, opportunism and denial in the real estate market: luxury condominiums going up in flood-prone South Beach, and property values rising in the vulnerable Keys, post-Hurricane Irma. And though the House of Representatives passed a bill to require real estate agents to disclose flood risks, the Senate has not reviewed it, and a culture of “systemic, fraudulent nondisclosure” persists in high flood risk areas. — The Guardian
As part of her Climate Changed series for The Guardian, Megan Mayhew Bergman investigates the reluctance of Florida's condominium boom (and the wealthy investors behind it) to cool it a bit on new developments in the face of projected climate change-related devastation. "Humans tend to respond to... View full entry
Any visitor to New York over the past few years will have witnessed this curious new breed of pencil-thin tower. Poking up above the Manhattan skyline like etiolated beanpoles, they seem to defy the laws of both gravity and commercial sense. They stand like naked elevator shafts awaiting their floors, raw extrusions of capital piled up until it hits the clouds. — The Guardian
In his latest long-form piece, The Guardian architecture critic Oliver Wainwright shows how the advent of the new 'pencil tower' building type is rapidly transforming New York City's skyline, digs in the history of zoning laws, and explains how "air rights" allow (an abundance of) cash to buy a... View full entry
“If you’re going to build a stadium in a city, it has to play a larger role than the NFL. It has to bring people together in a meaningful way — both on Sunday and on every other day of the week, both in the fall and every other season. That’s the driver, [...] If you’re looking at a stadium project, everybody now is trying to figure out how you make it the epicenter of day-to-day life. Hopefully, this project will serve as a great model for that.” — The Washington Post
Although recent events may have put a damper on the Rams historic season, the team's future is still bright. Los Angeles is already home to many championship teams, but what makes this particular team different is what its presence and growth will do for the city. Construction for the $5 billion... View full entry
The 1964 Strick House, is located in one of Los Angeles's most famous architectural enclaves; Santa Monica's highly sought after La Mesa Drive. This Modernist Architectural work is one of the most significant in the world and was Oscar Niemeyer's only residential project in North America. With its vaulted ceilings, walls of glass, and overlooking the Riviera Country Club, this estate holds unrivaled pedigree. — Zillow
Los Angeles is the site of a significant number of mid-century gems, but the 1964 Strick House is a superlative of its own. The 5,000 square foot, single story residence overlooks the Riviera Country Club in Santa Monica, but it also contains its own tropical gardens within its half-acre lot... View full entry
Hedge funder Ken Griffin has closed on a massive penthouse at 220 Central Park South, paying a record-shattering $238 million, according to sources familiar with the deal.
The Citadel founder has long been rumored as the buyer of the condominium’s most lavish spread — a 23,000-square-foot quadplex encompassing the 50th through 53rd floors of the limestone tower, developed by Vornado Realty Trust and designed by Robert A.M. Stern. The asking price was $250 million.
— The Real Deal
After Ken Griffin dropped a sweet quarter billion on his new NYC digs, he didn't appear entirely penniless and recently secured a few other neat places to crash when traveling to London, Chicago, or Miami. "Earlier this week, he reportedly scooped up a house in London for around $122 million,"... View full entry
Amazon could be a new tenant in the Chrysler Building, already increasing its upcoming presence in New York.
The tech giant, which is bringing half of its second headquarters to Long Island City, is close to signing a lease for about 10,000 square feet in the famed property, according to the New York Post. The building’s owners, Tishman Speyer and Abu Dhabi Investment Council, are putting the landmark tower at Lexington Avenue and East 42nd Street up for sale.
— The Real Deal
The intention of the Chrysler Building owners to sell the iconic property at 42nd Street and Lexington Avenue made headlines last week. Securing a commercially attractive retail tenant, such as Amazon, would certainly improve the aging skyscraper's market value. View full entry
Abu Dhabi, the Persian Gulf Emirate that’s the Chrysler Building’s majority owner, is considering a sale of the 77-story tower after about a decade of ownership, people with knowledge of the matter said Wednesday. Abu Dhabi Investment Council, the government’s sovereign wealth fund, paid $800 million for a 90 percent stake in 2008. — Bloomberg
Roughly ten years after changing ownership to an Abu Dhabi sovereign wealth fund, the iconic Chrysler Building is back on the market again. But what is a trophy worth?, asks Bloomberg. Gorgeous automobile-inspired facade details, symbols of a bygone industrial era. Image via Wikipedia.Strictly... View full entry
The Los Angeles Conservancy, which spearheaded the landmarking efforts, canceled plans to name the property a Historic-Cultural Monument after agreeing to a deal with owners Paul and Gigi Shepherd to “take demolition off the table.” That means buyers must be willing to relocate the home if they plan to build on the stunning hillside vista where it sits. — Curbed LA
Now listed for $6.25 million, Richard Neutra's historic Chuey House in Hollywood Hills is still up for grabs. “According to listing material, the one and a half acres upon which [the house] sits could accommodate a 20,000 square foot megamansion. That’s more than 10 times the size of the... View full entry
