Category : Residential

By Roslyn LoIf you recognize real estate agent Dana Power’s face, it’s because you’ve seen her before – she has graced likes of magazines, billboards and popular TV shows. The fresh new face of Town Real Estate is much more than meets the eye. She's out to change the world. “I grew up interested in sustainable living. Other countries are more advanced. We need to continue to spread the knowledge. New developments, renovating spaces to keep them eco-friendly,” Power said.

By Roland LiBillionaire Jeff Greene, who made a fortune betting against subprime mortgages, has picked up another sort of distressed asset. Greene's firm, Coral Gables, FL.-based Florida Sunshine Investments, Inc., has purchased 62 Wooster Street for $26.27 million, according to city records. The building, which also has the address 476 Broome Street, was a planned luxury conversion by Trinity Development Group, with five residential units, a roof-top swimming pool and 4,000 s/f of retail space with art galleries.

By Roland Li The fate of rent regulations affecting over 1 million New York City apartments is now in the hands of Albany’s Senate. Last week, the State Assembly passed a bill that would renew the regulations, which limit rent increases, extending them to 2016. It also abolished deregulation due to vacancy, increased the ceiling for deregulation for high-income tenants and decreased rent increases to 10% from 20% for new tenants. Assemblyman Brian Kavanagh, a Democrat who represents the east side of Manhattan, said the changes were important in order to preserve the city’s rent-regulated housing stock.

By Liana GreyHow do you breathe new life into an Art Deco masterpiece — especially one designed by Shreve, Lamb and Harmon, the architecture firm responsible for the Empire State Building? The answer, according to TF Cornerstone, is to turn things over to the latest generation of talented designers. At the landmarked 99 John Street, the developer and Nest Seekers held a design contest for its model unit.

By Roslyn LoSituated in the heart of Harlem, the new Apex Condominiums offer an avant-garde building in the midst of a neighborhood lush with history. It is the first hotel-condominium community in Harlem since 1967. The 12-story building is on the corner of Frederick Douglass Boulevard and 124th Street, a location  becoming a popular destination for tourists and residents alike.

By Roland LiActress Uma Thurman's townhouse at 18 West 9th Street has closed for $12 million, according to city records. The buyer was a trust connected with the Darien, Conn.-based perfume company Parfum de Coeur. Officials at Parfum de Coeur weren't immediately available to comment. The home went into contract in February and had an asking price of $14.2 million.

By Roland LiThe Manhattan rental market saw rents climb and landlord concessions decrease in the first quarter, compared to the previous year, according to reports released on Thursday from Prudential Douglas Elliman and Citi Habitats. Citi Habitats, which based its data on the firm’s closed transactions in the first quarter, reported an average rent increase of 12% compared to the first quarter of 2010. The vacancy rate was 1.08% in the first quarter, down from 1.45% in 2010. In March, the brokerage reported a 0.99% vacancy rate, the first time the figure had dropped below 1% since July 2010.