manhattan

15 Park Row

Skyline1902

Manhattan skyline 1902 – Park Row building at center

by Alon Gibely Jex

15 Park Row! For those of you unfamiliar with this building I need to ask where you’ve been for the past 118 years??? That’s right, completed in 1899, for more than a century 15 Park Row has been an integral part of New York City’s skyline and today it’s still going strong! While presently its impressive twenty-nine stories may seem less so with the proximity to the Financial District and its mammoth skyscrapers, but for nine years after the completion of The Park Row Building (as it was known then) it was the tallest building in the world! That’s right, not just in the Financial District, or Tribeca (neither terms being applicable at the time of course), or Lower Manhattan, or the entire island of Manhattan, or the entire City of New York, or the… well you see where this is going.

Sadly, in 1908 the completed construction of the nearby Singer Building, at 47 stories, took the title of the world’s tallest. If you’re looking for the Singer Building these days though you won’t find it, as it was demolished in 1968 (take that Singer Building!), and these days that space is occupied by One Liberty Plaza.

In the early twentieth century 15 Park Row occupied a portion of Park Row that was then known as Newspaper Row, it being the center of the New York City newspaper industry at the time, and the building even housed one of the first offices of the Associated Press. Other notable tenants over the years include the headquarters of the IRT (Interborough Rapid Transit), the original operator of the New York City subway system, as well as most recently the offices and retail space of J&R Music World, the famed New York City music and electronics retailer.

These days the building has been converted to a luxury residential building. In 2001 the top half of the building was converted into residential units, and since 2014, the bottom half, from floors 3 to 8 were converted to residential units as well. Currently there are over 300 apartments at 15 Park Row, and the building is presently working on restoring the lobby to its former early-twentieth century glory, as well as adding some more modern touches like a large gym, yoga studio, a residents lounge and children’s playroom, bike storage, cold storage, and an immaculate roof deck as well. For over 100 years 15 Park Row has and continues to prove itself as a bastion of the neighborhood that surrounds it, whether that’s Tribeca, the Financial District, or whatever they may call it in the future.

This certainly won’t be the only blog about 15 Park Row that NY Living Solutions will bring you, but if you’re interested to learn more about the architecture and history of 15 Park Row then check out the link below to the Wikipedia article:

https://en.wikipedia.org/wiki/Park_Row_Building

Advertisements

Rental Incentives during peak summer months in NYC? Sounds too good to be true but it’s not.

New York’s prime leasing season is well under way and there are more choices then ever for prospective renters. Typically, from May through August property owners across New York City have the upper hand as college graduates flock to the city in preparation for their new jobs as well as families gearing up to secure a residence before the new school year. Renters in NYC know all too well to expect higher rents during these summer months, and those that find themselves in the cycle of leasing during the summer are usually prepare for sticker shock.
For the first time in almost four years of growth in the NYC real estate market property owners are having to get creative with incentives like paying the broker fee and offering free rent to attract more interested renters. There are more choices in the market now more than previous years because prices are beyond what most people can or will pay for a rental. Renters looking for a new place to call home this summer have a competitive advantage as they can be more choosy in what they put an application in for. People who may not have ideal credit are getting approved much faster than in past as landlords appear to be more willing to work tenants. While incentives are typically neighborhood specific, certain older rental buildings are also competing by offering their own incentives.
As one of the leading boutique firms in the New York Metropolitan Area, NY Living Solutions specializes in helping renters and buyers navigate the Financial District. NY Living Solutions has access to many no-fee apartment rentals all throughout Manhattan including luxury condominiums as well as new grand opening properties with incredible amenities.

Manhattan the “New” Brooklyn (Again)?

By
 NEW YORK, NY - MAY 5: A group of musicians play their instruments in a Williamsburg subway station on May 5, 2012 in New York City. Over the past five years, Williamsburg has become a magnet for youthful artists, musicians, chefs, mixologists and fashion designers. (Photo by George Rose/Getty Images)

“It’s exploding with young people and tattoos,” a woman tells the Wall Street Journal today about the Upper East Side.”These hipsters were moving in — you could tell they were hipsters because I used to be one too, so they stand out — and they were moving a mounted moose head into their apartment.” Manhattan, she says, “has the charm that you would want in Brooklyn that is quickly disappearing.” Oh, Lord. The larger point she’s speaking to, supposedly, is that rents in Brooklyn (by which the Journal mostly means Williamsburg) are now high enough to drive young people back to Manhattan. It’s a renaissance or something! We’ve heard this one before.

Full Article Here via The New Yorker

The Most Expensive Real-Estate in the World

By Robert Frank

Associated Press Monaco

If you think real-estate in Manhattan or San Francisco is expensive, consider Monaco.

The price of real-estate in Monaco — the world’s most expensive locale — is now an average of $5,408 a square foot, according to a report from Citi Private Bank and Knight Frank, the London real-estate firm. Spending $1 million will get you a 200 square-foot closet – presumably without a water view.

The second most expensive locale is Cap Ferrat in the south of France, at more than $4,800 a square foot. That’s followed by London, at $4,534 a square foot, and then by Hong Kong, at $4,406 a square foot.

New York is a relative bargain, coming in at number 17, at more  than $2,161 a square foot (this seems to be a little  high, even for Manhattan). The only other U.S. locations on the top 50 are Aspen, at number 39, with $974 a square foot, followed by Telluride ($760 a square foot) and Miami, at about $580 a square foot.

Here is the list of the Top 10

LOCATION    AVG PRICE PSF

Monaco – $5,408

Cap Ferrat — $4,800

London — $4,534

Hong Kong (houses) — $4,406

Courcheval 1850 — $4,081

St. Moritz — $3,951

Gstaad — $3,701

St. Tropez — $3,600

Geneva  – $2,959

Hong Kong (apartments) — $2,625

Luxury Rental Building NYC Directory – 45 Wall Street

Luxury Rental Building  NYC Directory – 45 Wall Street

Residences  The residences at 45 Wall Street are as varied as they are spacious, with unique layouts that make traditional boxy Manhattan apartments pale by comparison.  All homes feature extra high ceilings, pass-thru kitchens, oak parquet floors, and oversized windows.  Some residences feature walk out terraces and home offices with seperate entrances.

Amenities 45 Wall Street is geared not just for today but tomorrow as well, wired and inspired to make your life easier.  With seven subway lines steps from your door, communting is a breeze.  Incomparable features include 24 hour concierge, walet service, on-site parking, golf driving and putting green, tenant storage facilities, bicycle room, conference center, and cold storage for grocery delivery.  Tenants may tone up at the complimentary fitness center or relax at Club 45, both located on the Penthouse level.  The Club offers leather lounge seating, a pool table, large screen TV and a huge wrap terrace for sunning.

Neighborhood  The financial district has become one of Manhattan’s most exciting new neighborhoods.  This is the neighborhood of 45 Wall Street.  As convenient as it is beautiful with trendy restaurants, waterfront parks, museums, galleries, choice of retailers, speciality merchants and historical sites.  Enjoy the renaissance of 45 Wall Street where the heart and energyis truly unparalleled.

Availability  Choose from a wide array of studio, one, two and three bedroom apartments.  Several residences offer party-size terraces with dramatic skyline views and many apartments are large enough to share.  For those who prefer to work from home, there are specially designed home/office residences featuring two entrances – which provide completely seperate living and work areas.

For appointments call 212-227-0021

Stuyvesant Town Tenants Wins Court Decision-A Resident Speaks

Something For The Wanna Have’s.

The battle between The Tenant’s association and PCVST management company Tishman Speyer ended yesterday with the highest court in New York ruling in favor of the The Tenants.  This was the last possible appeal from Tishman after an Amicus brief was prepared which served to prove Tishman’s double dipping in the form of receiving J-51 tax breaks and market rate rent hikes. The law clearly bars deregulating units “which became or become subject to [stabilization] by virtue of receiving tax benefits” under the city’s J-51 program. This was a huge victory for the lower and middle class. During this time of excessive corporate greed and massive bonus payments justice was served today with a very clear message; You can’t expect to break the law, make a profit while also receiving tax benefits and not be punished. You can’t have it both ways and enjoy a capitalist compensation and a socialist compensation while you screw the people in the community. That’s called exploitation. This was a risk taken to earn a profit and the risk has not paid off. The beauty of which is pure capitalism. There are some commentator’s and journalists out there who see this as an unjust verdict. One of which is Steve Cuozzo in his NY Post article. He suggests that Jerry and Rob Speyer had another interpretation of the law (yeah no kidding) and writes “With so much hanging on the meaning of “by virtue of,” Jerry and Rob Speyer nonetheless rolled the dice. Now the court has made things far worse for them and for the entire decontrol cause, which too briefly offered a way out of the system’s socialist-style deathlock on the rental housing scene.” My answer to that is, Are you friggin serious Steve? So you’re supporting tax theft at the very least? This was a victory for pure capitalism and justice. If you take a profit gamble and you fail due to what is written in law then it’s game over. And the fallout from this can neither be protected or rationalized. If other landlords profit margin were based on the same expectations then that too is their big gamble. For the record I am a resident in Stuyvesant Town making $150,000 a year and I cannot save any money. This is a true victory also for the middle class. We deserve a victory after all our money has been either stolen from us or simply gobbled up by credit card companies and rent.

The final question I have is, now what? What happens from here with the decision. How will the money be parceled up for the victors? I live in a market rate apartment but I signed a lease agreeing to those terms.  While it’s true that 4,352  apartments are now market rate, I signed my lease agreeing to pay that rate.  I have asked employees working for Tishman Speyer whether I will receive a new re-regulated apartment and at this time it is not certain what the costs will be to TS or the re-structuring of the leases. I do not expect pro rated rent payments to be awarded but an apartment rate that could help me save would be nice.

Real Estate News !!!

Latest Headlines

http://ny.therealdeal.com/