Recent Transactions and Trends

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We recently reported on New York’s technology revolution, and how that revolution has impacted New York commercial real estate. In our blog post, NYC’s Silicon Alley Expands: New York’s Tech Revolution, we explained that lower Manhattan is getting involved in the digital arena, boasting approximately 600 tech firms south of Canal Street where the financial sector has historically dominated. This area has been named Silicon Alley. We also have a new contender in the New York technology revolution: Brooklyn.

The Brooklyn Tech Triangle has been dubbed the “next Silicon Valley” by Archinect. The plan is to develop parts of Brooklyn, led by the Downtown Brooklyn Partnership, the DUMBO Improvement District, and the Brooklyn Navy Yard Development Coalition. A number of firms have already declared Downtown Brooklyn, DUMBO and the Navy Yards their home, including HUGE, Etsy, Pontiflex, Loosecubes, MarkerBot, Steiner Studios, and a number of educational institutions. A map of the Triangle can be seen here, which reveals that over 500 companies and 12 universities are in Brooklyn. The map also provides a number of amenities and community assets already in place, from meet-ups to cultural offerings.

Based upon an economic study conducted by Urbanomics, the Brooklyn Triangle pumps approximately $3 billion into the local economy and will almost double in size by 2015. The study also shows that the square footage of space from 2012 to 2015 will grow from 1.7 million square feet to 3.1 million and the number of employees from 9,628 to 17,960. As such, there will be 20,000 more jobs available in 2015 (from 23,000 to 43,000). Of course, based upon this anticipated demand, rent is expected to increase approximately 67%, evidencing staggering real estate growth. There are already a number of developments in these areas; commercial real estate space can be found here.

The question remains, however, how will Brooklyn Triangle compete with its counterpart across the river, Silicon Alley. Mike Germano from Carrot Creative made a bold statement about the digital industry in New York: “Silicon Alley is dead.” But, with rising real estate costs in Brooklyn, it is only a matter of time before Silicon Alley’s outter-borough counterpart is just as expensive as Manhattan. And with companies like weWork and Greenspaces providing affordable, trendy, and fun work spaces in Manhattan, Brooklyn will surely have to step up its game. Nonetheless, these are exciting times in our city, and the change in personality and industry is surely something that will be a positive for New York; no matter the borough.

Queens, it’s your turn to step up your game.

 

15 Broad St Luxury Loft Views + Sunny!

 

15 Broad St Entrance

15 Broad St Bathroom

15 Broad LR

Downtown by Starck at 15 Broad St. is a white glove full service building. This home is a 700 sq ft loft w/ an open kitchen and has great closet space. It has a semi-enclosed bedroom and a built in office. The apt is on the 25th floor which clears the directly facing building allowing for tremendous sunlight and views. Building features include a state of the art Health Club, Swimming Pool, Sauna and Jacuzzi, Childrens Playroom, Yoga/Ballet studio, Indoor Basketball Court, Squash Court, Business Center, Bowling Alley, Screening Room and open air Seventh floor Park, Also, it is located near all transportation.

Pet Friendly

California Closet

Window Treatments

Washer/Dryer in Apt

Please email Constantine@ny2reg for a viewing

As 2012 ends, NY2 offers a year in review of New York real estate transactions and/or listings involving celebrities.

 

Madonna: 41 Central Park West for $23.5 million

P Diddy: 230 West 56th Street for $8.5 million

Alicia Keys: 30 Crosby Street for $17.95 million

Kiefer Sutherland: 763 Geenwich Street for $17.5 million

Jennifer Aniston: 299 West 12th Street for $7 million

Harrison Ford: 206 West 17th Street for $16 million

Nicole Kidman: 176 Perry Street for $45,000 per month

Robert De Niro: 14 Saint Luke’s Place for $9.5 million

Sarah Jessica Parker: 20 East 10th Street for $25 million

Oprah Winfrey: Place 57 – 207 East 57th Street for $7.9 million

Derek Jeter: Trump World Tower – 845 United Nations Plaza for $15.5 million

 

New York Squared wishes everyone a Happy and Healthy New Year and may 2013 be kind to everyone!

We all know that Silicon Valley (in Northern California) is home to many of the world’s largest technology corporations as well as thousands of small startups. But a new area with a concentration of internet and new media companies has been born in Manhattan. Silicon Alley originally referred to the cluster of companies extending from the Flatiron District down to SoHo and along TriBeCa, along Broadway. But with the expansion of the industry in New York, Silicon Alley is not a reference to the dot-come industry in New York City as a whole.

Although the dot-com boom of Silicon Alley can be traced back to the mid-1990s, we only have recently begun to see this industry’s effect on the real estate market.Union Square has been the central hub of Silicon Alley, although Brooklyn has its own tech hub in its naval yards. Lower Manhattan is now getting involved in the digital arena, boasting approximately 600 tech firms south of Canal Street where the financial sector has historically dominated. The Association for a Better New York and a member of the Downtown Alliance has stated that “It used to be … like 60% FIRE — finance, insurance, real estate — and everything else. Now, it’s the other way around.” The traditional corporate demographic of downtown Manhattan has clearly changed as a result of this technological revolution in New York.

Mayor Bloomberg’s office has also gotten involved by instituting the Made in New York program. The mayor’s office has created a website, which lists a plethora of companies on an interactive digital map, allowing users to find local startups that are currently hiring for more than 3,000 jobs.Bloomberg said:

Growing our local tech industry is an important part of our economic development strategy to bring new businesses to our city and more jobs opportunities to New Yorkers. The city offers the ideal location for talented people with ground-breaking ideas to start their companies, and the ‘We Are Made in NY’ initiative is the latest step we’re taking to help them grow here.
To show its appreciation for this up-and-coming industry in New York City, the city has been incentivizing digital and creative companies migrate by providing four companies $250,000 each to move into lower Manhattan as part of Help + Expand in Lower Manhattan competition.

It remains to be seen whether this expansion will continue and for how long. Interestingly, we shall see in the future whether this expansion grows northward above Union Square or maybe even to other boroughs such as Queens.

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New York Squared is currently showing a gorgeous one-bedroom apartment in Astoria, located on Newtown Avenue.  This top-floor apartment is on the sixth floor and boasts a large balcony, Brazilian cherry-wood floors, marbled bathroom, and a common roof deck with great views of Manhattan.  The building has a washing machine and dryer room, as well as an elevator.  The apartment is approximately five blocks from the N/W trains and very close to Astoria Park.  This 700 square-foot apartment is renting for $2,000. 

Contact us at New York Squared if you want to view this unit.

 

 

 

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New York Squared is currently showing a gorgeous one-bedroom apartment in Astoria, located on Newtown Avenue.  This apartment boasts a large balcony, Brazilian cherry-wood floors, marbled bathroom, and a common roof deck with great views of Manhattan.  The building has a washing machine and dryer room, as well as an elevator.  The apartment is approximately five blocks from the N/Q trains and very close to Astoria Park.  This 750 square-foot apartment is renting for $2,250.  June 15th move-in. 

 

For a two-year lease, there is no fee associated with the apartment.

For a one-year lease, there is a 1/2 a month fee for the apartment.

 

 

 

Contact us at New York Squared if you want to view this unit.

(212) 671-0177

Constantine: constantine@ny2reg.com

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Massive one bedroom available in Sunnyside for only $1,700.  This unit is located in a charming pre-war building, only one block away from the 7 train.  Showings are available this weekend so give us a call or email Constantine at constantine@ny2reg.com

 

New York Squared is exclusively showing a gorgeous two-bedroom luxury apartment in a new-construction Long Island City apartment building for $5,500.  This 1,212 square-foot unit, 17B, has a 103 square-foot balcony, accessible from one of the bedrooms and the living room.  This beautiful unit also has breath-taking views of Manhattan.

The apartment’s amenities include:

  • Radiant Heating & Central Air
  • Marble Countertops
  • General Electric Appliances
  • Subzero Fridge
  • FIOS & Time Warner Cable Ready
  • Washer & Dryer hook-ups

 
The building’s amenities include:

  • Building Doorman (8 hours per day Monday – Saturday)
  • Virtual Doorman/Concierge (for packages)
  • Video Intercom
  • On-site Parking (additional fee)
  • Bicycle Storage (additional fee)
  • Fitness Room Access
  • On-site Laundry

Please contact NY2 for more information or if you want to view this unit.  There are also studios, one-bedrooms and two-bedrooms in this luxury building.

New York Squared is exclusively showing a gorgeous one-bedroom luxury apartment in a new-construction Long Island City apartment building for $3,300.  This 554 square-foot unit, 17A, has a balcony in the living room, which is approximately 100 square feet and incredible views of Manhattan.

The apartment’s amenities include:

  • Radiant Heating & Central Air
  • Marble Countertops
  • General Electric Appliances
  • Subzero Fridge
  • FIOS & Time Warner Cable Ready
  • Washer & Dryer hook-ups

The building’s amenities include:

  • Building Doorman (8 hours per day Monday – Saturday)
  • Virtual Doorman/Concierge (for packages)
  • Video Intercom
  • On-site Parking (additional fee)
  • Bicycle Storage (additional fee)
  • Fitness Room Access
  • On-site Laundry

Please contact NY2 for more information or if you want to view this unit.  There are also studios, one-bedrooms and two-bedrooms in this luxury building.

New York Squared is exclusively showing a gorgeous one-bedroom luxury apartment in a new-construction Long Island City apartment building for $4,000.  This 676 square-foot unit, 16C, has a balcony in the master bedroom and a gorgeous terrace that overlooks Manhattan.  The terrace is approximately 564 square-feet and the balcony is approximately 103 square feet.

The apartment’s amenities include:

  • Radiant Heating & Central Air
  • Marble Countertops
  • General Electric Appliances
  • Subzero Fridge
  • FIOS & Time Warner Cable Ready
  • Washer & Dryer hook-ups

The building’s amenities include:

  • Building Doorman (8 hours per day Monday – Saturday)
  • Virtual Doorman/Concierge (for packages)
  • Video Intercom
  • On-site Parking (additional fee)
  • Bicycle Storage (additional fee)
  • Fitness Room Access
  • On-site Laundry

Please contact NY2 for more information or if you want to view this unit.  There are also studios, one-bedrooms and two-bedrooms in this luxury building.

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