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MAY MONTHLY MARKET REPORT CITYREALTY MONTHLY MARKET REPORT Sales Summary 2-3 Historical Performance 4-6 Notable New Listings 7 This report is a monthly overview of the Co-op and Condo market in Manhattan. Closing data provided lags approximately four weeks from actual closing dates, balancing the timeliness of the Snapshot 8 report with the completeness of the data set for the period and the accuracy of our analysis. 1 MAY MONTHLY MARKET REPORT Summary Most Expensive Sales Several big-ticket sales boosted the average closing price substantially in the four weeks leading up to April 1st. The average price for an apartment— taking into account both condo and co-op sales—was $2.2 million, a 47% increase month-over-month from the prior average, $1.5 million. AVERAGE SALES PRICE CONDOS AND CO-OPS $91.5M $2.2 Million One57, #75 157 West 57th Street The average price of a condo rose from $1.9 million to $3 million and the average 6+ Bed, 6+ Bath price of a co-op rose from $1.2 million to $1.7 million. The total numbers of 2 2 apartments sold dipped slightly, to 770 from 785. Approx 13,544 ft ($6,759/ft ) The three biggest sales were in One57, Extell Development’s extremely pricey new condo development, and included the second most expensive apartment sale in New York history. RESIDENTIAL SALES 770 $1.7B UNITS GROSS SALES $47.4M A group of investors led by hedge fund mogul William Ackman bought Unit One57, #88 75—also known as the “Winter Garden” duplex—at One57 for $91.2 million. 157 West 57th Street The closing price is the second highest recorded in New York for a residence, 4 Bed, 4 Bath trailing only the $100.5 million sale for a duplex on the building’s top floors. Approx 6,231 ft2 ($7,602/ft 2) Unit 75 is, however, the biggest residence in One57, at 13,544 ft2, and includes a 2,500 ft2, curved-glass atrium. The second-most expensive sale this month was for a 6,231 ft2 unit on the 88th floor of One57; it closed for $47.4 million, or roughly $7,602/ft2. The third priciest was a 4,483 ft2, 67th floor apartment that sold in One57 for $30 million, or $6,701/ft2. 309 461 $30.0M CONDOS SOLD CO-OPS SOLD One57, #67A 2 157 West 57th Street AVG PRICE AVG PRICE/FT AVERAGE PRICE $3.0M $1,779 3 Bed, 4.5 Bath $1.7M Approx 4,483 ft2 ($6,701/ft 2) *CityRealty's Manhattan area market comprises the area south of 125th street on the West Side, and south of 96th street on the East Side. 2 **CityRealty’s May 2015 market report includes all public records data available through March 31, 2015 for deeds recorded the prior month. MAY MONTHLY MARKET REPORT Manhattan Condo Sales Summary 30-DAY SALES / PAST 30-Day Total Sales by Region MIDTOWN PRICE AVG* 30 DAYS Midtown East $1,073 / ft2 (-33%) 6 Midtown West $2,349 / ft2 (+36%) 59 17% Murray Hill $1,590 / ft2 (-5%) 39 Upper 2 East Side Turtle Bay/United Nations $1,486 / ft (+13%) 7 $162M 23% Downtown 30-DAY SALES / PAST 9% $213M PRICE AVG* 30 DAYS Upper DOWNTOWN West Side $81M Chelsea $1,815 / ft2 (-3%) 17 East Village $1,719 / ft2 (+43%) 5 Flatiron/Union Square $2,154 / ft2 (+17%) 8 Gramercy Park $1,461 / ft2 (+2%) 7 Nolita/Little Italy $1,918 / ft2 (n/a) 7 Tribeca $1,771 / ft2 (+1%) 11 30-DAY SALES / PAST UPPER WEST SIDE PRICE AVG* 30 DAYS 2 4% Broadway Corridor $1,420 / ft (+2%) 12 2 Financial District / Central Park West $2,209 / ft (+36%) 12 23 2 47% BPC Lincoln Center $1,448 / ft (-18%) 6 $40M 2 Midtown Riverside Drive/West End Avenue $1,328 / ft (-2%) 7 $432M 30-DAY SALES / PAST FINANCIAL DISTRICT / BPC PRICE AVG* 30 DAYS Midtown was the highest-grossing region in Manhattan, with $1,117 / ft2 (-29%) $432 million in condominium sales. Downtown was the second Battery Park City 13 Financial District $1,245 / ft2 (-3%) 24 highest-grossing area, with $213 million in sales.+447917 Midtown also 2 2 had the highest price/ft , $1,953/ft , and Downtown had the 30-DAY SALES / PAST second-highest, $1,905/ft2. The Upper East Side was the area UPPER EAST SIDE PRICE AVG* 30 DAYS with the largest month-over-month increase, 17%, going from 2 $1,501/ft2 to $1,757/ft2. Carnegie Hill $2,052 / ft (+33%) 8 Lenox Hill $1,749 / ft2 (+16%) 26 Park/Fifth Avenue to 79th Street $2,836 / ft2 (-7%) 6 Avg Price / Ft2 by Region Yorkville $1,158 / ft2 (-9%) 13 $2,000 $1,800 2 $1,600 $1,400 AVG PRICE / FT / PRICE AVG $1,200 $1,000 $800 2011 2012 2013 2014 2015 KEY: UPPER WEST SIDE UPPER EAST SIDE MIDTOWN DOWNTOWN FINANCIAL DISTRICT/BPC *Neighborhoods with less than 5 sales in the past 30 days are not included in the table. Percentage changes are calculated over the same period of the previous month. 3 **CityRealty’s May 2015 market report includes all public records data available through March 31, 2015 for deeds recorded the prior month. MAY MONTHLY MARKET REPORT Historical Performance : Selected Resales Of the 309 condo sales in Manhattan recorded,166 had sold since 2005. The selected resales listed below are grouped according to the years they were initially purchased. The price difference between the sales and the Compound Annual Growth Rate (CAGR) is indicated. COMPOUND SQUARE MOST RECENT ANNUAL BUILDING, UNIT FEET FIRST SALE SALE PRICE CHANGE GROWTH RATE Original Sale Year : 2005 Total Transactions : 11 100 United Nations Plaza, #22B 1,337ft² Jan 05, 2005 ($1,366,000) Mar 05, 2015 ($1,930,000) $564,000 (+41.3%) +3.5% Executive Plaza, 150 West 51st Street, #42246 588ft² Jan 25, 2005 ($325,000) Mar 06, 2015 ($580,000) $255,000 (+78.5%) +5.9% The Belgravia, 124 East 79th Street, #15A 1,296ft² Feb 02, 2005 ($1,995,000) Mar 10, 2015 ($2,825,000) $830,000 (+41.6%) +3.5% The Spring, 225 Lafayette Street, #11D 2,079ft² Mar 03, 2005 ($2,102,686) Mar 26, 2015 ($4,025,000) $1,922,314 (+91.4%) +6.7% The New Theatre Building, 240 East 10th Street, #4B 1,145ft² Jun 08, 2005 ($1,295,000) Mar 13, 2015 ($1,625,000) $330,000 (+25.5%) +2.4% The Corinthian, 330 East 38th Street, #16P 884ft² Jun 17, 2005 ($935,000) Mar 26, 2015 ($1,200,000) $265,000 (+28.3%) +2.6% The Elysabeth, 35 East 38th Street, #4-A 525ft² Aug 03, 2005 ($529,000) Mar 19, 2015 ($571,000) $42,000 (+7.9%) +0.8% 455 Central Park West, #22C 2,159ft² Sep 16, 2005 ($3,288,947) Mar 23, 2015 ($4,350,000) $1,061,053 (+32.3%) +3.0% Original Sale Year : 2006 Total Transactions : 10 140 East 56th Street, #8L 800ft² Mar 16, 2006 ($640,000) Mar 30, 2015 ($735,000) $95,000 (+14.8%) +1.5% 555 West 23rd Street, #S9Q 634ft² Mar 22, 2006 ($697,501) Mar 05, 2015 ($880,000) $182,499 (+26.2%) +2.6% 327 Central Park West, #5D 1,205ft² Jul 28, 2006 ($456,300) Mar 02, 2015 ($1,440,000) $983,700 (+215.6%) +14.3% Zeckendorf Towers, 1 Irving Place, #P19F 785ft² Aug 29, 2006 ($960,000) Mar 30, 2015 ($1,400,000) $440,000 (+45.8%) +4.5% Hester Gardens, 158 Hester Street, #6G 1,385ft² Aug 30, 2006 ($1,476,462) Mar 17, 2015 ($1,800,000) $323,538 (+21.9%) +2.4% The Orion, 350 West 42nd Street, #40B 1,250ft² Sep 08, 2006 ($1,624,108) Mar 11, 2015 ($2,115,000) $490,892 (+30.2%) +3.2% 1600 Broadway, #10D 777ft² Sep 26, 2006 ($763,687) Mar 31, 2015 ($870,729) $107,042 (+14.0%) +1.6% The Orion, 350 West 42nd Street, #46C 1,076ft² Sep 28, 2006 ($1,170,987) Mar 17, 2015 ($1,850,000) $679,013 (+58.0%) +5.6% Original Sale Year : 2007 Total Transactions : 26 The Link, 310 West 52nd Street, #10J 919ft² Feb 15, 2007 ($992,793) Mar 09, 2015 ($1,450,000) $457,207 (+46.1%) 4.8% Wachussett, 311 Amsterdam Avenue, #PHA 1,991ft² Feb 22, 2007 ($1,730,000) Mar 31, 2015 ($3,325,000) $1,595,000 (+92.2%) 8.4% The Chatham, 181 East 65th Street, #20A 2,500ft² Mar 09, 2007 ($6,750,000) Mar 01, 2015 ($6,500,000) -$250,000 (-3.7%) -0.5% Chelsea House, 130 West 19th Street, #12B 1,493ft² Apr 26, 2007 ($2,138,325) Mar 13, 2015 ($3,100,000) $961,675 (+45.0%) 4.9% Grand Madison, 225 Fifth Avenue, #4L 2,168ft² May 07, 2007 ($3,294,038) Mar 12, 2015 ($5,800,000) $2,505,962 (+76.1%) 7.5% 117 West 82nd Street, #6 525ft² May 15, 2007 ($552,900) Mar 09, 2015 ($490,000) -$62,900 (-11.4%) -1.5% Kips Bay Towers, 330 East 33rd Street, #3-B 812ft² May 29, 2007 ($600,000) Mar 06, 2015 ($808,000) $208,000 (+34.7%) 3.9% The Centria, 18 West 48th Street, #11D 628ft² Jun 01, 2007 ($932,106) Mar 26, 2015 ($1,128,000) $195,894 (+21.0%) 2.5% Original Sale Year : 2008 Total Transactions : 25 Morgan Park Condominium, 30 East 37th Street, #M5 921ft² Oct 16, 2008 ($965,000) Mar 24, 2015 ($1,195,000) $230,000 (+23.8%) +3.4% Chelsea Stratus, 101 West 24th Street, #37B 1,584ft² Oct 17, 2008 ($2,851,100) Mar 13, 2015 ($3,930,000) $1,078,900 (+37.8%) +5.2% Manhattan House, 200 East 66th Street, #D0406 1,134ft² Oct 24, 2008 ($1,323,725) Mar 25, 2015 ($4,395,000) $3,071,275 (+232.0%) +20.6% Riverhouse - 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    PENN STATION/ TIMES SQUARE DISTRICT | NEW YORK 592 EIGHTH AVENUE between West 38th & West 39th Streets RETAIL OR ENTIRE BUILDING FOR LEASE HIGHCAP GROUP, LLC. | 425 Fifth Avenue, Suite 505 | New York, NY 10016 | Phone: (212) 575-0022 | Fax: (212) 575-5851 Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. PENN STATION/ TIMES SQUARE DISTRICT | NEW YORK 592 EIGHTH AVENUE between West 38th & West 39th Streets PROPERTY DETAILS LOCATION: East side of 8th Avenue SPACE: Retail: 832 2nd & 3rd Floor: 1,664 Total: 2,496/sq. ft. FRONTAGE: 13’ on Eighth Avenue TERM: Long Term Triple Net POSSESSION: Immediate NEIGHBORS: Near Times Square and Grand Central Station, Port Authority Bus Terminal and Rockefeller Center near Madame Tussaud’s NY, BB King Blues Club & Grill and the Westin NY @ Times Square. COMMENTS: Highly visible 3-story retail building in Prime Midtown West/Times Square. 600 SF basement. All uses accepted, vented with black iron, 13' frontage. HIGHCAP GROUP, LLC. | 425 Fifth Avenue, Suite 505 | New York, NY 10016 | Phone: (212) 575-0022 | Fax: (212) 575-5851 Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice.
  • 130 West 57Th Street Studio Building, 130 West 57Th Street, (Aka 126-132 West 57Th Street), Manhattan

    130 West 57Th Street Studio Building, 130 West 57Th Street, (Aka 126-132 West 57Th Street), Manhattan

    Landmarks Preservation Commission October 19, 1999, Designation List 310 LP-2042 130 West 57th Street Studio Building, 130 West 57th Street, (aka 126-132 West 57th Street), Manhattan. Built, 1907-08, Pollard & Steinam, architects. Landmark Site: Borough of Manhattan Tax Map Block 1009, Lot 46. On July 13, 1999, the Landmarks Preservation Commission held a public hearing on the proposed designation as a Landmark of the 130 West 57th Street Studio Building and the proposed designation of the related Landmark Site (Item No. 2). The hearing had been duly advertised in accordance with the provisions of law. There were six speakers in support of designation, including the owner of the building, representatives of the Landmarks Conservancy, the Society for the Architecture of the City, and the Historic Districts Council. There were no speakers in opposition to designation. In addition, the Commission has received letters from Assemblyman Richard N. Gottfried and from Community Board 5 in support of designation. Summary Built in 1907-08 to provide living and working facilities for artists, the studio building at 130 West 57th Street is a rare surviving example of this unusual building type, and a reminder of the early twentieth century period when West 57th Street was a center of artistic activities. Designed by architects Pollard & Steinam, who had previously created several artists' studio cooperatives on West 67th Street, this building profited from the experience of the developers and builders who had worked on the earlier structures. The artists' studio building type was developed early in the twentieth century, and was an important step toward the acceptance of apartment living for wealthy New Yorkers.
  • Active Corporations: Beginning 1800

    Active Corporations: Beginning 1800

    Active Corporations: Beginning 1800 DOS ID Current Entity Name 5306 MAGNOLIA METAL COMPANY 5310 BRISTOL WAGON AND CARRIAGE WORKS 5313 DUNLOP COAL COMPANY LIMITED 5314 THE DE-LON CORP. 5316 THE MILLER COMPANY 5318 KOMPACT PRODUCTS CORPORATION 5339 METROPOLITAN CHAIN STORES, INC. 5341 N. J. HOME BUILDERS CORPORATION 5349 THE CAPITA ENDOWMENT COMPANY 5360 ECLIPSE LEATHER CORP. 6589 SHERWOOD BROS. CO. 6590 BURLINGTON VENETIAN BLIND COMPANY 6593 CAB SALES COMPANY 6600 WALDIA REALTY CORPORATION 6618 GATTI SERVICE INCORPORATED 6628 HANDI APPLIANCE CORPORATION 6642 THE M. B. PARKER CONSTRUCTION COMPANY 6646 ALLIED BANKSHARES COMPANY 6651 SYRACUSE PURCHASING COMPANY, INC. Page 1 of 2794 09/28/2021 Active Corporations: Beginning 1800 Initial DOS Filing Date County Jurisdiction 06/08/1893 NEW YORK WEST VIRGINIA 05/16/1893 NEW YORK UNITED KINGDOM 09/17/1924 ERIE ONTARIO 09/18/1924 SARATOGA DELAWARE 09/19/1924 NEW YORK CONNECTICUT 09/12/1924 NEW YORK DELAWARE 10/27/1924 NEW YORK DELAWARE 10/27/1924 NEW YORK NEW JERSEY 10/24/1924 ALBANY OHIO 11/18/1924 NEW YORK NEW JERSEY 02/15/1895 ALBANY PENNSYLVANIA 02/16/1895 NEW YORK VERMONT 11/03/1927 NEW YORK DELAWARE 11/09/1927 NEW YORK DELAWARE 11/23/1927 NEW YORK NEW JERSEY 12/02/1927 NEW YORK DELAWARE 12/12/1927 NEW YORK OHIO 12/16/1927 NEW YORK NEW JERSEY 12/14/1927 NEW YORK GEORGIA Page 2 of 2794 09/28/2021 Active Corporations: Beginning 1800 Entity Type DOS Process Name FOREIGN BUSINESS CORPORATION EDWARD C. MILLER FOREIGN BUSINESS CORPORATION ALFRED HEYN FOREIGN BUSINESS CORPORATION DUNLOP COAL COMPANY LIMITED FOREIGN BUSINESS CORPORATION THE DE-LON CORP.