The Real Deal - New York Real Estate News

Born again: Bank vaults and gyms are being turned into homes

Posted: 27 Oct 2018 01:00 PM PDT

Bank vaults and gymnasiums are being re-invented as sun-drowned penthouses and secretive party-rooms, as developers transform multiple sites across the city. The re-imagined ultra-secure spaces are providing some unique living quarters — some with ceilings 30 feet high are turning into a wine cellar or cigar bar, according to the New York Post. Take 49 Chambers Street, for example, the former Beaux-Arts Emigrant Industrial Savings Bank built in 1912, which is being re-developed by Chetrit […]

The next retail revolution? Luxury bodegas

Posted: 27 Oct 2018 12:00 PM PDT

The most recent attempt to disrupt the beloved neighborhood institution of the bodega opened in Greenwich Village late last month. Named “Bonberi Bodega,” the new store is filled with vegan products including homemade baked goods, organic juice and pre-made meals like quinoa bibimbap, according to SecretNYC. It’s not the first time a “luxury bodega” has set up shop and the concept has invited its share of controversy. In one case, a startup literally known as […]

The sell of the party: Do over-the-top bashes actually move properties?

Posted: 27 Oct 2018 11:00 AM PDT

On a Saturday in early October, 150 guests descended on a penthouse in Santa Monica. Stepping off the elevators, they were greeted by women in ’60s-inspired dresses and immediately ushered through a hallway lined with 1,100 yellow pinwheels. It was the first stop in a party dubbed “Endless Summer Insta-Penthouse” — a series of rooms designed to be highly Instagrammable. The party was a chance for guests to get an exclusive look at the 8,000-square-foot […]

Cry me a river: Justin Timberlake is willing to sell his Soho PH for a loss

Posted: 27 Oct 2018 10:00 AM PDT

Justin Timberlake and Jessica Biel have once again slashed the price of their Soho penthouse. The Soho Mews home is now listed for $6.35 million down from their initial asking price of $7.99 million, the Daily Mail reported. The couple paid $6.5 million for the unit in 2010. The penthouse at 311 West Broadway spans about 2,500 square feet, with a 853-square-foot terrace. With floor-to-ceiling windows, custom wood paneling and an electronic shade system the […]

Steven Mnuchin’s bank foreclosed on the home of man accused of mailing pipe bombs

Posted: 27 Oct 2018 09:26 AM PDT

Cesar Sayoc, the Florida man accused of mailing a series of pipe bombs to the homes of various public officials as well as the offices of CNN, lost his home in 2009 to a bank run by Treasury Secretary Steven Mnuchin. Sayoc purchased his Fort Lauderdale home in 2006 and refinanced it in April 2007 by obtaining an adjustable-rate mortgage through IndyMac Bank, according to The Intercept. According to reportedly back-dated documents, the bank foreclosed […]

Hostel or boutique hotel? Youth hostels are adding private rooms, services

Posted: 27 Oct 2018 08:00 AM PDT

Hostels are upping their efforts to win over youth, adding private rooms and more services to gain greater appeal as they expand nationwide. After finding that the term ‘hostel’ is a turnoff to majority of American guests, the London-based hospitality group Generator shifted its focus onto its bars and restaurants at its first U.S. location in Miami Beach, according to the Wall Street Journal. The recently opened eight-story hostel building at 3120 Collins Avenue also […]

Art dealer’s UES townhouse is back on the market after a $5M price chop

Posted: 27 Oct 2018 07:00 AM PDT

The Sherman M. Fairchild Mansion is once again seeking a buyer. The five-story townhouse at 17 East 65th Street has been on and off the market since 2014, when it was initially listed for $40 million. As recently as 2017, the townhouse was relisted with the same asking price, until this fall when art dealer Martin Zimet of French & Company cut the price to $35 million. The five-bedroom home has been Zimet’s residence since […]

The art of selling a unit: Tween rooms, sky lounges are latest salvos in the amenity wars

Posted: 27 Oct 2018 06:00 AM PDT

There’s a “namaste nook” for private yoga lessons, a single-stall hair salon and a grill deck with rain-resistant widescreen TVs suspended above each grate. But if residents of the Cooper at Southbank get bored of all that, they can always start a bluegrass quintet. “We wanted to create that space for artists and musicians to come and explore a little bit,” said Lendlease project director Justin Patwin inside the building’s “jam room,” a carpeted lounge […]