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A year ago today, the world watched as a crane dangled hundreds of feet above 57th Street. Today, the nearly complete One57 stands as a testament of luxury construction. Three more buildings are planned for the street. These buildings will not only change the real estate market, but they will change the skyline too. Take a look at this graphic for a more detailed look at the buildings.
Brooklyn Set To Welcome Its First Sephora
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Downtown Brooklyn is seeing a steady stream of name brand retailers infiltrate the very granola neighborhood. Sephora set their eyes on the area a few months ago when the cosmetic chain announce they will be setting up their first Brooklyn shop some time this year. That day has finally come. The store announced it will be handing out a handful of goodies to the first 100+ customers who make it to the opening this Friday.
This store, along with Whole Foods, JCrew, Urban Outfitters, (and even Mamouns) now see Manhattan’s ugly stepsister as a lucrative investment/growth opportunity. It appears that soon, there will absolutely no reason for Brooklynites to commute to Manhattan for the modern luxuries they have become so accustomed to.
Check out the complete details via Racked.com
Gourmet Deli Now Open! (Ludlow and Broome)
Gourmet Deli, which has been under construction for months now, finally opened! The deli is the first to serve my neighborhood (LES below Delancey between Allen and Essex) and is very welcome. The new business appears very busy and ready to serve the prospering community!
324 Grand Street Construction Update
Work has finally gotten underway at 324 Grand Street (between Ludlow and Orchard). The 6-story new construction residential building is now on its second story, climbing from a vacant lot just one month ago. This development is the first of many to come to the Lower East Side. What is unique, is the fact this development is pushing the boundary of gentrification which has usually stated above Delancey.
Stay tuned for more updates as the building grows and nears completion.
A Look Inside The Newest World Trade Center Tower
The World Trade Center complex is once again inching toward completion. 7 World Trade was Larry Silverstein’s first completed development on the hollow ground. This 47-story, 743 ft. tall glass tower has slowly started to see some new neighbors move back into the hood. One World trade, which is slated for a completion date within the next few months, has lately claimed so much fame after topping out slightly before Hurricane Sandy. While two other projects remain stalled (the developer is not moving forward until having committed tenants), a third building has quietly climbed 978 feet up into the sky.
The Real Deal went on a behind the scenes tour of the new building. The photos below have been taken from the article which can be read in full detail here. 4 World Trade is scheduled to before the end of the year. 
(Taken from Gothamist) ONe of Queen’s most famous and photographed areas is set to be demolished into luxury housing.
The development will:
The creation of 1,000 union jobs (200 of them permanent) in connection with the razing and rebuilding of the 5Pointz site.
The increase of “art space” within the buildings from 2,000 to 12,000 square feet.
An inclusion of 10,000 square feet of external panels around the complex that will be devoted to aerosol art. Johnathan Cohen, the curator and founder of 5Pointz sometimes referred to as Meres One, has allegedly been invited to both paint and curate the panels.
32,000 square feet of public space that will include a park.
-For more on the developing situation, click the photo above.
New York Times: The History of the High-Rise
http://www.nytimes.com/projects/2013/high-rise/?smid=fb-nytimes&WT.z_sma=OT_ASH_20131008
This Times Op-Doc section has created an amazing (and visually stunning) rundown on the history of the skyscraper. The series looks more so how construction has changed from a social and cultural standpoint rather than an architectural one. This prove to be particarlly effective in showing the changes taking place in the out of control New York real estate market. In an age when a condo is going to set you back hundreds of thousands of dollars, there has to be a humane answer facing the quickly vanishing urban middle class.
GENTRIFICATION: Harlem Welcomes Three Story Red Lobster
Red Lobster is planning another New York City location in Harlem, next door to the historic Apollo Theater. The chain already has restaurants in highly trafficked areas such as Times Square and Atlantic Terminal. Signage is already up along the quickly gentrification 125th Street corridor. Plans call for a THREE story restaurant set to open November 11th of this year. Red Lobster is just one of many large retailers taking over the formerly downtrodden neighborhood.
Revamping the 125th Street corridor has been a leading force in the drastic changes seen in Harlem. For the first time in almost a century, the neighborhood is no longer primarily black. The New York Times reported the decline of black culture in the neighborhood as a steady stream of young professional move in. Rents have risen seen more than a 10% increase in housing prices over the past year alone (MNS). As other neighborhoods continue their upward climb, Harlem is becoming more attractive.
The neighborhood will continue to develop and shows promise for those looking to invest. I highly recommend my clients look into Harlem. “Central Park North” as I will announce in an upcoming article for the Huffington Post, will take a deeper look into the changes taking place. Landlords are seeing higher rates of return in this neighborhood than in any other in Manhattan. If you are looking to buy, check out the changes happening here.
(Photo: New York Daily News)
This photo was taken a few days ago from Long Island City. I have made it my goal to check out Queens. Too often you hear about Brooklyn and Manhattan rather than the city’s other boroughs. Did you know that every recognized religion in the world is spoken in Queens? Has anyone been on a bike tour? I think that could be
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