Morning Pulse

30 Things in New York Real Estate You Need to Know this Morning

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10:22:50 | 2012-08-20

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Good Morning New York! Here’s the Real Estate News:
Ben Stiller selling swanky NYC apartment for $9.6 million

Making people laugh sure does have its perks, especially if you can parlay your comedy prowess into big bucks the way Ben Stiller has … and then get to live in the lap of luxury.


Hearing Harsh Opinion of Homeowners Is OK…If It Doesn’t Affect Your Judgment

Our story begins at an 1120 Park Avenue penthouse, in a co-op between West 95th and 96th Streets. Craig and Deborah Coguthad bought triplex apartment 16PHB in in August 2006. Two months later they informed the managing agent,Brown Harris Stevens, that they wanted to renovate. Their architect,Darius Toraby, submitted plans that met with approval from the co-op’s retained professional, Walter B. Melvin Architects, and after that from the board.


Strategic To Buy Manhattan Essex House Hotel For $362.3 Million

Strategic Hotels & Resorts Inc. (BEE) agreed to buy the Jumeirah Essex House, an 80-year-old hotel on Manhattan’s Central Park South, for $362.3 million. Marriott International Inc. (MAR) will manage the property, which will be rebranded as JW Marriott Essex House New York, Strategic said today in a statement. The seller is Dubai Investment Group LLC, the real estate and asset-management arm of Dubai Group LLC, which is controlled by the emirate’s ruler.


Claremont Houses Tenants File Lawsuit Over Rat Infestation

Nancy Rodriguez, who lives in the Claremont Houses in the Bronx, says her three young children are kept up at night by a most unwelcome neighbor–the complex’s many rats.


Corcoran launches real estate listings app for iPad

Corcoran has become the first major New York City brokerage to put out a real estate application specifically designed for Apple’s popular tablet, the iPad. Launched this week, the app lets iPad users browse listings and contact agents on the device; using GPS, it enables home-seekers to find out about apartments available for sale and rent nearby, as well as neighborhood amenities.


15 Central Park West Fuels Ultra-Luxury Condo Surge

Apartment owners at Manhattan’s 15 Central Park West, home to Goldman Sachs Group Inc. (GS) Chief Executive Officer Lloyd Blankfein and the musician Sting, are seeking to double their investments after the complex shattered price records and sparked a wave of ultra-luxury listings.


Trulia files for $75M initial public offering

Trulia Inc., which operates the real estate website, on Friday filed for an initial public offering that could raise up to $75 million. In its filing with the Securities and Exchange Commission, the San Francisco-based company did not say how many shares it planned to sell or what they would be priced at. The $75 million figure is an estimate used to determine the filing fee and could change.


With Rents on the Rise, New Yorkers Do the Math

BLANCHING at their rent bills, more New Yorkers are being forced to confront that age-old question, should I rent, or does buying make more sense? In many cases, the hard numbers point toward the latter. The averageManhattan apartment rented for a record $3,459 in July, according to Citi Habitats, which called the price the highest since it began tracking rents in 2002.


Has LED lighting reached a benchmark for commercial real estate in NY?

In the past month there have been numerous news articles in regards to LED lightingsolutions, significantly reducing energy consumption and greatly assisting in improvedEnergy Star scores for commercial businesses in NY and CT.


The Trump brand moves beyond real estate to sunglasses, bottled water, chocolate bars

On his desk is a pile of photographs and renderings of Trump golf courses he owns in Scotland and Los Angeles, and a third in Miami, the Doral, that he would buy the following Monday for $150 million.

[Washington Post]

Brooklyn’s miracle makers

In 1998, Chaskiel Strulovitch leased a three-story former loudspeaker factory on the Williamsburg waterfront and then spent $3 million converting it into 46 loft apartments, betting people might pay as much as $16 per square foot to live there.


HGTV Selling New York Showcases Amenities In New Ways

Selling real estate in New York City is a competitive venture. On this week’s episode, Michele Kleier of Gumley Haft Kleier found a new way to market the amenities of a building to sell a posh apartment. Meanwhile Tom Postilio of CORE found a way to sell an apartment in his own building and scores a spot on the Board.


The Night-Life Lawyer

THE New York bar, like all complex professional societies, has every sort of specialty you can think of: white-shoe litigators, Mafia defenders, crusading Legal Aiders, corporate crisis managers, City Hall fixers, real estate closers and lowly filers of slip-and-fall lawsuits. Sal Strazzullo’s specialty is that capricious class of person occupying the world of New York night life.


Supersize Chelsea!: In New York’s Main Art District, It’s Go Big or Go Home

“Be careful where you step,” shouted Maureen Bray over a percussion of power tools as she maneuvered past the electricians, sheetrockers and HVAC crew members who have two months to transform a 22,000-square-foot construction zone into the new home of Sean Kelly Gallery, which is about to triple in size.

[Gallerist NY]

Burglar Tells How He Got Into an East Village Apartment, Twice

The East Village apartment burglar, successful once, came back for more, and was caught in a trap and arrested. But a mystery lingered. How did he get in that apartment? Had he lived there before? No. And the building’s super said the lock was changed after the previous tenant left.


Kate Winslet’s Titantic Condo Put On Real Estate Market

Oscar winning actress Kate Winslet–perhaps best known for starring opposite Leonardo DiCaprio in The Titanic–has put her giant-sized New York City condo on the market. The four bedroom, 3.5 bathroom duplex with 13 foot ceilings and 12 large windows and a titanic-sized 1,700 square foot terrace in one of the posh neighborhoods in Manhattan is available to rent for $30,000 a month.

[iRealty Times]

Knock NYU out of park: suit

Elderly residents of a rent-stabilized Greenwich Village building owned by NYU are suing to block the school from razing the private park in front of their home to make way for just what the city doesn’t need — more high-rises. In papers filed in Manhattan Supreme Court, the Washington Square Village residents call the 2-acre park a “necessary service” and ask a judge to order that it cannot be razed and replaced with high-rises and a smaller public space.


Backyard space grows on New Yorkers

The first sign that something strange is happening on Ludlow Street is the fence, which is long and green and decidedly out of place amid a cluster of city buildings. Peer through its holes and things get even more confusing: Is that a backyard? In the middle of Manhattan?

[Toledo Blade]

Hamptons Fantasy Tennis Stars Venus Williams Design, $250 Tips

Vince Spadea, who in an 18-year up- and-down pro tennis career had wins over Pete Sampras, Andre Agassi, Rafael Nadal and Roger Federer, stood at net at East Hampton’s Buckskill Tennis Club feeding balls side-to-side to a winded amateur. “Tennis is doing two or three things extremely well, extremely often,” Spadea, 38, said while trying to upgrade my running forehand and backhand into high-speed topspin weapons.

[SF Gate]

High-End Developers Tap Art World to Spruce Up Construction Sites

Construction sites needn’t be eyesores, according to high-end Manhattan developers who are transforming their scaffolds into temporary public art exhibits.


Rooftop loft oasis with stunning view of New York City made out of an old industrial sprinkler tank

It is a New York City pied-a-terre with a stunning view of the city’s skyline, set high above the streets below. This elusive rooftop loft is the creation of architect Brian Messana and he has named his latest project Tank House. The finished masterpiece is a renovation of an existing loft apartment and the development of an old existing industrial sprinkler tank house into a tranquil urban retreat.

[Mail Online]

New York City’s Select Top Office Leases for Q2 2012

The following is an account of the New York City market’s select top five office lease transactions for second quarter 2012. Viacom, Inc. leased 1,605,043 square feet at One Astor Plaza in Times Square. Michael Laginestra, Scott Gottlieb and Andrew Sussman with CBRE represented the tenant. SL Green Realty Corp. represented the landlord in-house.


Once-Crumbling Apartment Building Seeks to Add Health Food Store

A few years ago, 935 Kelly St. was riddled with housing code violations and was a haven for squatters, drug-dealers and rodents. But now, its new owners want to turn part of the newly-renovated apartment building into a health food-focused business venture to serve the South Bronx.


Loving New York for all its characteristics

There has been a leak in my bathroom ceiling since January. First, my superintendent duct taped it and called it a day. When the leak persisted a few months later chewing away and leaving behind its brown drool another man came over to caulk and spray paint it. It has dripped here and there since, but nothing strong enough to warrant a useless phone call to my landlord.

[Observer Today]

Tommy Bahama Retail, Bar and Restaurant on Schedule for 551 Fifth

The Feil Organization’s 551 Fifth Avenue, known as the Fred French building, will soon be home to a unique shopping experience. Retailer Tommy Bahama signed a 12-year lease for 8,500 square feet of space at the Art Deco tower back in January 2011 and this November plans to open its first standalone New York store—which will include a restaurant and bar.


City seeks a developer to build condos and use the profits to finance parks on north Brooklyn waterfront

After years of delays, the city is seeking a developer to use profits from proposed condo towers to finance new parks along the spacious north Brooklyn waterfront. Proceeds from the land sale would help the Bloomberg administration find a new spot for the MTA vehicles and repair materials being stored at the Greenpoint site on 65 Commercial St., according to the Request for Proposals issued Aug. 16.

[NY Daily News]

Four Decisions – Joan Riegel

BACKSTORY After her rent was raised 25 percent, Joan Riegel, 69, knew she had to make a move. But since her husband died in 2006, Ms. Riegel, a retired educator, had already downsized and moved two times, in order to live within her means — leaving a five-bedroom suburban house for a large two-bedroom on Central Park West, and then going to a one-bedroom on the Upper West Side.


United Glass Leases 22,000 SF at Brooklyn Center

United Glass, a commercial glass manufacturing and servicing company, signed a new lease for 22,000 square feet in the Shingle Creek Commerce Center I at 6820 Shingle Creek Parkway in Brooklyn Center, MN. The 156,870-square-foot, single-story industrial facility in northwest Minneapolis was constructed in 1973.


Avoid short-stay rentals in New York City

Although plenty of visitors rent private apartments in New York City, it is a fact that short-term (less than a month) apartment rentals violate various of the city’s laws and building regulations. As a general rule, renting an apartment without a lease is illegal in NYC and the city has become well known for scammers who rent out non-existent apartments, or ones that are owned by someone else.

[Sydney Morning]

FDNY Crews Rescue Super Pinned Under Elevator

A super of a Washington Heights apartment building was in serious condition Thursday after being pinned under an elevator. Armando Bennett, 56, was trying to pluck keys that had dropped underneath the elevator at around 8:30 a.m. when it suddenly lowered, trapping him underneath, witnesses and officials said.


Mary-Kate Olsen And Her Totally Normal Aged 42-Year-Old French Boyfriend Are Moving To NYC Together

I’m trying to remain calm about the news that Mary-Kate Olsen, sister of Trent Olsen, will be moving just 10 blocks from my apartment. But I can’t because OMG ASHTMA ATTACK, I could now run into her just walking around the neighborhood. My odds of spotting her and her boyfriend/father Olivier Sarkozy are especially high because I plan on spending all my free time camping out on their block.