1. Funnyman Jimmy Fallon dubbed 2014′s most desirable celebrity neighbor [Zillow]
2. Home break-ins surge during the holidays [CNN Money]
3. Victoria Theatre’s $143M development lagging behind schedule [Harlem + Bespoke]
4. Peek inside novelist Jonathan Kellerman’s art deco Upper East Side pied-à-terre [NYT]
5. Over 10 million underwater homeowners face looming tax break end [Forbes]
6. Condominiums as art galleries draw buyers [WSJ] – Julie Strickland
Jimmy Fallon dubbed 2014′s most desirable neighbor, home break-ins surge during the holidays … and more
Rocky housing market expected for 2014
The recent ups and downs of mortgage rates and home sales are expected to carry over into the new year.
If rates undergo another radical shift, the turbulence in the housing market will continue, according to real estate experts. Consistently, however, interest rates move the opposite direction of demand from homebuyers.
“Particularly if we see a pretty quick rise – maybe a half a percentage point to percentage point rise — it’ll make for some bumpy demand in 2014,” Ellen Haberle, an economist at online brokerage Redfin, told the Wall Street Journal.
The seasonally adjusted annual rate of new home sales fell by 4 percent month-over-month in May, while mortgage rates climbed, according to the U.S. Department of Commerce. Five months later, new home sales rose 18 percent month-over-month, while rates dropped by less than 1 percentage point. [WSJ] — Mark Maurer
Kimmelman in the dark about Central Park’s skyscraper problem: Architecture review
In a recent article, the architecture critic of the New York Times, Michael Kimmelman, questioned the wisdom of constructing all those super-tall buildings around the city, especially on the southern edge of Central Park.
His piece, which has set the city’s architectural and real estate communities talking, is measured to the point of being non-committal. It recognizes that a balance should be sought between the daring of developers and their architects on the one hand, and the interests of the city itself and its citizens on the other. The trick, which is almost impossible to legislate, is ideally to keep bad architecture from being built while fostering good architecture.
Kimmelman is also correct to worry that many of the purchasers of the units in these new buildings will not use them as primary residences, and so will escape paying property taxes. That issue, by contrast, should be relatively easy to legislate. Finally, Kimmelman is entirely correct in rebuking the ugliness of Christian de Portzamparc’s One57: “It’s anybody’s guess how the building got past the drawing board.”
Where I disagree with him is in his worrying, together with the Municipal Art Society in an upcoming report, that these tall buildings, achieved through the purchase of air rights from existing properties, will cast unwelcome shadows over Central Park. By the very nature of the purchase of air rights, these buildings cannot cluster together as the previous generations of skyscrapers have done on Central Park South, those of the 1930s and then of the 1970s. Most of the damage to sunlight in the southern end of Central Park was already perpetrated forty or so years ago: The new buildings are, and will remain, sufficiently isolated that they will block, if anything, only a few minutes of sunlight during the winter months.
Perhaps more pertinently, the emergence of the four or five super-tall buildings that are nearing completion or will soon begin to rise, represents the next phase in the development of skyscrapers in New York City.
Now, it is the paradox of skyscrapers that they function aesthetically only where they do not function urbanistically. Skyscrapers look best when the can rise in virtual isolation, without competition from other buildings. That is how they are conceived by their architects. But the circumstances in which that isolation is possible (small or scattered cities), generally make the construction of tall buildings unnecessary. You don’t need a massive skyscraper in Santa Fe, because there is quite enough space for the population to inhabit and work in.
In Manhattan, however, where every square foot is jealously counted and protected, skyscrapers make sense, but so — at least until recently — has the clustering of them into neighborhoods where their individuality is virtually invisible from the street.
This newest batch of skyscrapers, however, will be different. Because of landmarking and the purchase of air rights, that clustering of buildings will not be possible. Also, these are residential buildings rather than the offices buildings that, until recently, have been the main typology of skyscrapers. The clustering of tall buildings would ruin most views, which would inhibit their being clumped together in the first place, even if local laws allowed it. Instead, for the first time in generations, we will soon see along Central Park South, skyscrapers rising as they were originally conceived, in splendid isolation.
City looks for developers to build Kips Bay biosciences center
The city’s Economic Development Corporation and Department of Mental Health and Hygiene are looking for developers to turn part of a Kips Bay building into a center for bioscience research.
The two agencies jointly issued a request for proposals Friday, seeking a developer to turn the 455 First Avenue space, located between 26th and 27th streets, into a facility that would house private research labs. There is currently a demand for increased lab space in the five boroughs, the city said, and the revamped building — owned by the city and located near Bellevue Hospital Center, NYU Langone Medical Center and the Alexandria Center for Life Sciences — would help meet that need, the city said in its announcement.
The developer the EDC selects would redo the building’s entire structure, built in 1964, and could lease out unoccupied space to medical research tenants — leasing agreements the city would offer in lieu of paying for the cost of renovations.
The Health Department’s Public Health Laboratory, long located on 11 floors of the 335,000-square-foot building, would consolidate to six floors. The Aaron Diamond AIDS Research Center and NYU occupy an additional three floors. [Crain's] — Julie Strickland
Video game mogul buys Upper East Side condo for $10.8M
Gregory Fischbach, founder of now-defunct video game publisher Acclaim Entertainment, grabbed a condominium unit at the Brodsky Organization’s 135 East 79th Street for $10.75 million.
The four-bedroom apartment, which was listed for $10.65 million, features a study and a private elevator landing.
The Corcoran Group is marketing the building.
In 2011, Fischbach and his wife, Linda, sold their apartment at 740 Park Avenue to developer William Zeckendorf for $27 million. Seventeen years earlier, they bought it for $6.3 million, as previously reported. [Curbed] — Mark Maurer
West Chelsea condos amp up artsy accoutrements
Developers Adam Gordon and Tavros are aiming to honor Chelsea’s artistic heritage with a series of accoutrements geared at art collector buyers in their new condominium development at 560 West 24th Street at Eleventh Avenue.
Apartment unit walls will be reinforced with plywood to support heavy picture frames, gallery-style white lights will be embedded in the ceiling, and the foyers will have tilted walls to display art is if on an easel.
The building will also feature artistic flair, with a 4,200-square-foot gallery at the building’s base that is not yet leased. And the sales office is located in a back room at the Edward Thorp Gallery at 210 Eleventh Avenue at West 25th Street, beyond a number of sculptures on display.
The properties also feature wood-burning fireplaces, French-style windows with grille fronts and octagonal doorknobs designed by West Village manufacturer P.E. Guerin. Prices average $2,500 per square foot, with a top-floor penthouse sprawling across 3,200 square feet inside and 1,400 feet outside, asking $18 million. [NYT] — Julie Strickland
City’s Tribeca court move spurs Sheldon Silver-backed lawsuit
Tribeca homeowners and businesses put on short notice of a relocation of a probation office to their neighborhood are taking New York City to court for making the decision without them.
The Department of Probation, currently fixed at 346 Broadway alongside the Criminal Summons Court, is set to move to 66 John Street, which has already been leased, as previously reported. Plaintiffs include nearby Pace University, discount apparel retailer Century 21 and residents, the New York Daily News reported. Assembly Speaker Sheldon Silver, who represents the area, also threw his support behind the suit.
“I have deep concerns about this plan, as do many residents of our community, and I do not believe the city has adequately addressed those concerns,” Silver said in a letter to Deputy Mayor Cas Holloway and city Department of Citywide Administrative Services Commissioner Edna Wells Handy. “There has been a lack of transparency when it comes to communicating these plans to the community and there has not been enough engagement with the public.”
The city-owned Broadway location is to be sold to the Peebles Corporation, which plans to convert the space into luxury condominiums. The Summons court’s relocation to 71 Thomas Street is still in negotiations, though that has also met with neighborhood resistance. [NYDN] — TRD
Top residential agents of the week
Price: $16,500,000
Listing broker: Elizabeth Sahlman and Liora Yalof of the Corcoran Group
Address: 525 Park Avenue
Price: $10,250,000
Listing broker: Amanda Brainerd of Brown Harris Stevens
Address: 62 West 12th Street
Price: $5,800,000
Listing broker: Louise Phillips Forbes, Jonathan Schulz, Jason Miller and Richard Johnson of Halstead Property
Address: 50 Madison Avenue
Price: $5,250,000
Listing broker: Angel Joseph of Warburg Realty
Address: 1148 Fifth Avenue
Price: $4,700,000
Listing broker: Ariel Tirosh and Peter Schwartz of Douglas Elliman
Address: 781 Fifth Avenue — Julie Strickland
Sources: StreetEasy and The Real Deal. Footnotes: Data is for closed deals filed with the city this week through Friday. The chart only includes sellers’ brokers, because buyers’ brokers’ names are not available in city data or listings. The data does not include deals in contract. To obtain broker information, listing information was compared with sales records filed with the city. Only deals where an individual broker and address can be identified are included. As a result, private sales, listings where an address has not been provided and new development sales by a sales center are not included.
UFO-inspired holiday house opens in Austria
Just because a house is small doesn’t mean it can’t have big architectural ambitions. For example, take this 485-square-foot holiday home in Nussdorf, Austria.
The house, dubbed UFOGEL, is a UFO-inspired holiday getaway made entirely from Larch wood – a rot-resistant timber typically used for yachts – which seamlessly blends into the environment at the base of the snow-capped Tyrolean Mountains. UFOGEL gets its name from its resemblance to a UFO and the German word for bird: vogel, according to Inhabitat.
The building’s ground floor features a wood-burning stove, a kitchen with a stainless steel worktop and a comfortable dining area, capable of seating up to eight people. And despite its small size, the upper level bedrooms can accommodate up to four people and include a full-size bathroom with a shower. [Inhabitat] –Christopher Cameron
Meatpacking sees renewed BID push
The Meatpacking District is seeing a renewed effort to form a business improvement district in the neighborhood, following a failed attempt several years ago.
Currently the Meatpacking District Improvement Association, which is behind the BID push, functions very much like a BID, but isn’t funded by a special tax assessment on property owners like a city-approved BID, according to the Villager.
If approved the BID’s boundaries would be set as Horatio Street to the south, Eighth Avenue to the east, 17th Street to the north and the West Side Highway to the west.
“Already a high-profile commercial, entertainment and retail corridor, the Meatpacking District is a world-class destination,” the M.P.I.A. said in a statement. “In coming years, the addition of a number of new commercial developments will result in increased levels of visitation and traffic. With such growth will come increased and evolving needs for area services. To respond to those needs, the neighborhood will require an organization with the district’s quality of life as its primary focus, and with the resources to be proactive in addressing the needs of the community.”
However, Elaine Young, a member who lives south of the Meat Market, complained at the December 19 Community Board 2 meeting that residents of the neighborhood were not being sufficiently accounted for. She proposed a resolution to place four area residents onto the BID’s board. The community board adopted her proposal. [Villager] –Christopher Cameron
Brooklyn library seeks public input on proposals
The Brooklyn Public Library is asking for public feedback regarding several proposals to redevelop the site of the Brooklyn Heights Branch Library.
Thus far, seven proposals, some of which include glass-covered facades, ground floor retail, rooftop gardens and affordable housing, have been submitted. All of the proposals include towers that are roughly the same height as 1 Pierrepont Plaza next door.
However, proposal B is taller, with roughly 36 stories and 31,192 square feet, while most of the proposals offer only 20,000 square feet – a size some residents find objectionable, according to the Brooklyn Eagle.
“We are pleased that the BPL is seeking public comments on the proposals and we urge Brooklyn Heights residents who comment to share their thoughts with us,” Alexandra Bowie, Brooklyn Heights Association’s president, told the Brooklyn Eagle on Friday.
The Brooklyn Public Library is accepting public comments on its website, which provides photos and details about the proposal, through January 17. [Brooklyn Eagle] –Christopher Cameron
City public housing may end $70M police payments
Keeping the projects safe doesn’t come cheap in New York City. The city assigns about 2,000 officers to New York City Housing Authority buildings, at a cost of roughly $70 million a year.
But that could soon change. Mayor-elect Bill de Blasio has promised to end NYCHA’s payments to the NYPD, saying the money “was taken on the assumption that NYCHA was just awash in federal money, all these wonderful resources coming into NYCHA. And that hasn’t been true for decades.”
Moreover, the landlords of thousands of private residential buildings throughout the city have authorized the NYPD to patrol their properties, and the police do so without charging, according to the New York Times.
Yet some argue that NYCHA buildings present a special circumstance where police funding matters: “Public housing is a unique policing context, not because the residents are more criminally prone, but because the architecture is distinctive and where it is in the city is distinctive,” Fritz Umbach of John Jay College of Criminal Justice, told the New York Times. “This presents unique police challenges that can only be met with these over-and-above services.” [NYT] –Christopher Cameron
City’s architecture community applauds Glen appointment
Mayor-elect Bill de Blasio’s selection of Alicia Glen, head of urban investment for Goldman Sachs, to serve as his deputy mayor for housing and economic development is getting applause from the city’s architectural sector.
“She’s perfectly situated, with both the title and the mandate, to carry out the campaign promises of the de Blasio administration,” Rick Bell, executive director of the American Institute of Architects’ New York chapter, said in an interview with the Insider.
However, to succeed in de Blasio’s goal of creating and preserving 200,000 units of affordable housing, Glen will need to streamline the approval of new construction projects, Bell told Crain’s.
And the AIA’s New York chapter, teamed with the Real Estate Board of New York, the National Resources Defense Council and the Urban Green Council, isn’t stopping with Glen. The organizations recently submitted their first platform, which advocates a list of names spread across six regulatory agencies affecting architecture. [Crain’s] –Christopher Cameron
“Grinch” landlord serves eviction papers on Christmas Eve
A Williamsburg landlord is inviting Grinch comparisons after serving seniors an eviction notice just before Christmas.
On Christmas Eve, Victor Einhorn, the new owner of the Swinging Sixties Center, gave the hundreds of kids and seniors who use the centers services until the end of January to vacate, which to supporters of the center demonstrates “a calculated meanness.”
“He knew what he was doing when he served these papers on Christmas Eve,” Jan Peterson, Community Board 1 member, told the Brooklyn Paper. “He’s a grinch.”
Einhorn purchased the three-story building on Ainslie Street last month, and raised the rent by a third almost immediately. Peterson, who helped open the center back in 1974, believes that Einhorn plans to demolish the center to make way for condos, with current zoning allowing for a seven-story residential building on the lot, according to the Brooklyn Paper.
Einhorn and his attorney did not return the Brooklyn Paper’s requests for comment, but center supporters believe that decades of city funding for programs at the center may make eviction difficult for the new landlord to achieve in the near future. [Brooklyn Paper] –Christopher Cameron
Artist captures eerie dwellings of the Brothers Grimm
A German photographer has set out to capture the architecture that made the Brothers Grimm tick, with startling and eerie results.
Photographer Kilian Schoenberger has made a name for himself shooting atmospheric scenes of rural Europe, but his latest project ups the ante.
The new series called, “Brothers Grimm’s Homeland,” is inspired by the fairy tales of the brothers and attempts to capture the dwellings that shaped them, including a Victorian-style church and a moss-covered cottage immersed in fog, according to Curbed.
The website My Modern Met describes the series as evoking “the eerie feeling of the quiet before the fright, when every nerve is on edge waiting for the snap of a twig to echo through the trees.” [Curbed, My Modern Met] –Christopher Cameron
Following divorce, architect built a new home for just $11K
After divorcing and losing her home to foreclosure, Macy Miller, an architect from Idaho, bounced back in an unusual way, by building a new home from scratch with her own two hands.
It cost Miller only $11,000 to build her tiny new home — less than 200 square feet – and took just 18 months. And although the home is certainly a downgrade from the 2,500-square-foot she used to live in, Miller says she never feels claustrophobic.
“Honestly, it doesn’t feel that tiny,” Miller told NPR. “The space is laid out in a way that I have a living room, I have a bedroom, I have a kitchen, I have a bathroom. They all function; none of them feels cramped.” [NPR] –Christopher Cameron
62% of brownstone Brooklyn homes sold at or above ask in Q4
Bidding wars raged on in brownstone Brooklyn as roughly 62 percent of houses sold at or above their asking price in the fourth quarter of 2013, according to data from Brooklyn-based brokerage Ideal Properties Group.
Homes in Greenpoint, Prospect Heights, Park Slope and Williamsburg cost an average of $970,000, the data shows. The average condominium there cost $876,227, up 27 percent year-over-year while the median price for condos was $671,857 — a 5 percent climb year-over-year.
“Higher interest rates seem to have done little to curtail demand, which in turn is continuing to fuel rising prices,” Aleksandra Scepanovic of Ideal Properties told DNAinfo. “And with 2013 having left many buyers in Brooklyn wanting more, the constrained inventory may very well lead to prices escalating further in the new year.”
Boerum Hill had the highest average sales price among the brownstone neighborhoods, with $1.73 million, which was a 50 percent rise from 2012’s fourth quarter. Sales prices in Williamsburg were the highest in north Brooklyn – at an average of $1.08 million, a 36 percent jump.
As for Manhattan’s fourth quarter, 3,297 apartment transactions closed, a 26 percent increase over the same period in 2012, and the median condo sale price hit $1.32 million, up 14.3 percent from $1.13 million this time last year, as The Real Deal reported, citing a Douglas Elliman report released today. [DNAinfo] — Mark Maurer
Multistory modular building to hit NYC market for first time

Construction of the Stack at 4857 Broadway and a rendering of the building
Hot on the heels of its first Starbucks, the Inwood neighborhood welcomes the city’s first multistory modular apartment building, which will hit the rental market later this month. Known as the Stack, the seven-story building, at 4857 Broadway, was shipped to the neighborhood in 56 modules.
The Stack has six units of affordable housing and 22 market-rate units, the Wall Street Journal reported. Rents are slated to start in the mid-$1800s for studios to the high $3000s for three-bedroom units.
“People who are interested in new development will seek it out because those kind of price points don’t go very far when you’re farther south in Manhattan,” Douglas Elliman’s Clifford Finn, who is marketing the building, told the Journal. Finn stressed that the building, between 204th Street and Academy streets, was more about character than luxury and fancy amenities.
B2, a 34-story residential tower currently under construction at Forest City Ratner’s massive Atlantic Yards project, will be the tallest modular tower in the world when it is completed.
The Inwood neighborhood has experienced considerable gentrification in recent months, according to the newspaper. A fitness studio has signed a lease in the nearby Hawthorne Gardens retail promenade, along with a frozen yogurt chain. [WSJ] – Hiten Samtani
Priciest, cheapest listings to hit Manhattan this week
Superbroker Dolly Lenz of the eponymous Dolly Lenz Real Estate had the priciest listing to hit the Manhattan market this week with a $7.25 million townhouse at 8 Sniffen Court in Murray Hill. The two-bedroom former carriage house was constructed in 1860, one of ten such homes at Sniffen Court behind a locked iron gate. Architect John Sniffen refashioned the properties into homes in the 1920s.
The second priciest listing of the week, a six-bedroom condominium at 145 East 48th Street in Turtle Bay, has an asking price of $6.5 million. The 4,468-square-foot penthouse home in the Cosmopolitan Condominium takes up the building’s entire 35th floor and boasts terraces on both the east and west sides of the building. The interior features nearly 10-foot ceilings, 19 windows and five-and-a-half bathrooms. Building amenities include a full-service doorman, live-in super, basement garage and an elevator that goes directly to the unit. Michael Frontera of Michael Charles New York has the listing.
Third on the pricey end this week is a one bedroom condo at Extell Development’s One57, a resale in the hands of Sotheby’s International Realty power brokers Brenda Powers and Elizabeth Sample. The unit, located at 157 West 57th Street, has an asking price of $6 million and offers Central Park Views, interior design by Danish designer Thomas Juul-Hansen, a gourmet kitchen and marbled shower with separate tub. Building amenities include a 24-hour doorman and concierge, fitness center and yoga studio, indoor pool, private dining, library with billiards table, screening room and an on-site parking garage.
The cheapest unit to hit the Manhattan market this week is a $275,000 studio co-op in Murray Hill. The 225 East 36th Street unit, located in a 23-story 1960s building that was converted to a co-op in 1975, features a separate windowed kitchen, hardwood floors and large closets. Building amenities include a 24-hour doorman, renovated lobby and hallways, live-in super, laundry, garage, a bike room and new roof deck. Town Residential’s Mattie Weiser has the listing.
The second least expensive unit of the week is a one-bedroom co-op at 90 Park Terrace East in Inwood. The home has an asking price of $289,000 and features garden views, an L-shaped layout, newly renovated eat-in kitchen and restored original floors. The Corcoran Group’s Kelly Cole has the listing.
Third on the inexpensive end this week is a $290,000 studio co-op at 320 East 42nd Street in Murray Hill. Listed by Charles Rutenberg Realty’s Geraldine Onorato, the renovated home is located in luxury high-rise Woodstock Tower and comes along with building amenities that include a full-time concierge, laundry room, fitness center and private garden. – Julie Strickland
Rare Sniffen Court carriage house available for $7.25M
A carriage house on the secluded 115-foot Murray Hill street called Sniffen Court hit the market for $7.25 million.
Sales of any of the 10 single-family carriage houses, located between Lexington and Third avenues on East 36th Street, are not especially common. This 3,080-square-foot house, known as No. 8, last sold for $4.1 million in 2007, as The Real Deal reported.
Superbroker Dolly Lenz has the listing, according to Curbed.
Hewlett-Packard scion Arianna Packard and her husband purchased a 4,900-square-foot home, a combination of No. 7 and No. 9, for $4.75 million in 2008.
British talk-show host Graham Norton bought the 2,223-square-foot No. 6 in 2003, for $3 million. [Curbed] — Mark Maurer