#manhattan-real-estate

#manhattan-real-estate

The Miami-based investor paid about $320 million for the 253-key Ritz-Carlton Central Park South at 50 Central Park South, adding a third Manhattan hotel to a rapidly expanding local portfolio. Property records show a $270 million transfer price, though that figure excludes fixtures and other non-real estate assets. Banco Inbursa provided a $235 million acquisition loan, assuming and upsizing debt originally issued by KeyBank.

Earlier this week, former Howard Hughes CEO David Weinreb agreed to rent his West Chelsea penthouse for $177,500 a month, an eye-popping figure that followed a $95,000-a-month lease at a Naftali Group building on the Upper East Side in December. Data on trophy rentals is tough to pin down, but this is likely among the most expensive leases ever inked in New York City. The two hefty leases came as inventory for Manhattan's trophy rentals—which appraiser Jonathan Miller defines as the top 1 percent of the market, with rates starting at $25,000 a month—was down more than 40 percent year-over-year in January, as new leases climbed (albeit, at a more modest pace).

A distinguished little studio at Abingdon Court, an Art Deco co-op on the corner of Bank and Bleecker. For a studio, it has a smart layout: A nicely sized foyer creates space for storage and a good amount of separation from the rest of the apartment, and the kitchen (a totally serviceable galley with a good amount of storage) is completely walled off from the living area - no waking up to look at your oven.

"She may be an Academy Award-nominated actor with two films hitting theaters this month-The Testament of Ann Lee and The Housemaid-but that doesn't mean she lives in Hollywood. Okay, she has a house there, but it's not her main home. That would be a farm in the Catskills in upstate New York, where she cares for a brood of animals and her two children, ages eight and five, with her husband, fellow actor Thomas Sadoski."

Staring across the Hudson, the young architect imagined a helicopter lifting a trailer from a dinky New Jersey development and placing it on top of a building somewhere in Manhattan. "It was a fantasy," he tells me, "but it was kind of a crystallization of the way I wanted to live in New York." It was the late 1980s. Tesoro was more than a decade out of architecture school and had been running his own firm for a few years.

Something strange was going on outside 38 Prince Street on Friday. We got a tip that a U-Haul was parked on the block around 2:30 that afternoon and that movers were carrying Aeron chairs and a Hästens mattress out of the federal-style townhouse where, according to Manhattan criminal court records, an Italian businessman had been held captive and tortured by two men looking to get the passwords to his crypto wallets.

Sales closed at a greater clip than listings hit the market, marking the third consecutive quarter where transactions outpaced inventory. It's not blazing, but the market is slowly getting faster, said report author Jonathan Miller. Buyers and sellers notched 3,100 deals in the third quarter, marking a 13 percent uptick from the same period last year. During the same time frame, the number of active listings rose 7 percent from roughly 7,200 to 7,700.

For under a million dollars, one can find all sorts of housing configurations: park- and subway-adjacent studios, one-bedrooms hidden in carriage houses or former shoe factories, and even the occasional true two-bedroom. We're combing the market for particularly spacious, nicely renovated, or otherwise worth-a-look apartments at various six-digit price points. This week, we've got a converted studio on the Upper East Side with a wall of oversize windows and a one-bedroom across the street from Prospect Park with a deeded parking spot.

The average rent in Manhattan surged 7% year over year to an all-time high of $5,450, marking the seventh consecutive month of price increases.