Plans for a New Waterfront Greenway Near UN

Now that summer has arrived, there are few things nicer than water the waterfront in Manhattan and enjoying the warm sun and breeze from the river. The west side is great for biking and running since it has the uninterrupted Hudson River Greenway.  However, you might have noticed that there is a big gap on the east side, right around the United Nations, that prevents Manhattanites from fully enjoying the waterfront there.

PC: NY Curbed

Well, move over west side — the east side is getting some upgrades! Mayor de Blasio recently announced that the city is getting a $100 million infusion to put towards a project to create a new esplanade between 53rd Street and 61st Street. The project, part of a bigger effort to connect the 32 miles of waterfront in the city, is set to begin construction in 2019 and is expected to be completed in 2022.

The project will be headed by the New York City Economic Development Corporation, with other agencies, such as the Army Corps of Engineers, US Coast Guard, and the NY State Department of Environmental Conservation, also approving it. There are still some gaps to fill in the plan, but local officials feel that they are much closer than they previously were to making the Greenway a reality and covering the island’s 32-mile circumference of waterfront.

In a statement, Mayor de Blasio said, “The Hudson River Greenway has vastly improved quality of life on the West Side, and we want families in every corner in the borough to have that same access to bike, walk and play along the water. This is the first of many big investments we’ll make as we bring the full Greenway to reality.”

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We are your source for special inspection, mechanical inspections, civil inspections, and architectural inspections in New York and the entire metropolitan area. With over 50 years of experience, we are known for both our high standards and specialized services. We have supported the work of some of the largest and most prestigious developers, retailers and more. Call us today at 212.867.6720 or visit our website for more information.

New Green Designs Turning NYC Outside In

It seems like every day, NYC is getting taller and taller. With buildings continuously growing into the sky, tenants are getting farther from the grass and trees on the ground. This has made for a new desire to bring the greenery and fresh air higher up into living spaces. Real estate agents have seen a growing trend in the demand for public and private green spots, bringing about a new architectural trend for NYC buildings.

What are the new NYC real estate demands?

Lately, there has been a higher demand for apartment terrace space, allowing residents to enjoy the outdoors in the privacy of their own homes. However, families with children want a different kind of outdoor access than terraces, since kids and heights don't go together.

What is the new NYC architectural trend?

Simply put — rooftop gardens. Real estate agents have said that these gardens have become almost a necessity for potential buyers and that they're making a splash on both residential and commercial buildings. The difference is that commercial buildings are being built with rooftop garden spaces, while people in residential builds like the idea of turning already-existing building spaces green.

What are rooftop gardens like?

Rooftop gardens are being crafted to include wifi, grills, hammocks, and private kitchens. In an effort to keep residents cool during summer time, some buildings are beginning to offer private rooftop cabanas that provide relief from the shade and privacy on your roof.

Are there financial benefits to rooftop gardens?

On a real estate side, these gardens are helping meet rent premiums, so they are used as a marketing tool within sales. Additionally, those private cabanas can potentially add up to $200,000 to an apartment’s resale value, so they're a great investment for owners who may want to sell.

What are meadow roofs?

Different clientele and buildings have different needs, which is where meadow roofs come in. These designs are low intensity and easily integrate into a variety of architectural designs. While there isn't a “no maintenance” roof garden, these meadows are as low of maintenance as you can get.

For more fun facts about NYC buildings and living, connect with AMAA on Facebook and Twitter!

We are your source for special inspection and related services in New York and the entire metropolitan area. With over 50 years of experience, we are known for both our high standards and specialized services. We have supported the work of some of the largest and most prestigious developers, retailers and more. Call us today at 212.867.6720 or visit our website for more information.

Most Expensive Apartment Purchases This Week

It’s no secret that Manhattan is home to some of the country’s most expensive real estate. Each week The Real Deal and CityRealty compile a list of the Big Apple’s highest apartment sales, so we’re here to share the top five highest purchases from this past week.

5) 20 East End Avenue, #12B

This condo sold on for a grand total of $14,784,990. The building, built in 2016, features 41 apartments, including three duplex town homes and two penthouses, and includes amenities such as a fitness center, billiard room, 12-foot high ceilings, and wine tasting and storage rooms. The post-war design also adds to the character of the building itself.

4) 25 Mercer Street, #PH

This condominium between Grand and Canal Streets sold for $17,310,375. The SoHo building offers large, deluxe apartments, while keeping the number of units low, so tenants won’t have too many neighbors to worry about. It is close to a large number of subways, as well as shops and restaurants. Two pre-war, low-rise buildings were originally built in 1867 but were converted in 2016 to create the five elegant condos. (There’s still one unit left if anyone wants it!)

3) The Greenwich Lane, 155 West 11th Street, #12A

This condo between Sixth and Seventh Avenues sold for $18,583,502. The 3,950 square foot home has four bedrooms and four bathrooms, stunning Juliet balconies views of the city, and direct elevator access. Along with a stunning master bed and bath, the condo also includes a powder room, zone climate control and a private chef’s kitchen. If you’re interested, it’s actually back on the market!

2) One57 157th West 57th Street, #65A

This 3 bedroom, 4.5 bathroom condo spent a total 537 days on the market before being sold for $22,500,000. The building itself is the tallest mixed-use building city and offers amenities such as a 24-seat screening room, arts and crafts atelier, library and billiard room, and proximity to Central Park and Bergdorf Goodman.The main con with the building is the high number of apartments it contains.

1) 30 Park Place, #PH78A

Taking the crown at $30,000,000 is this 5 bedroom, 6+ bathroom Tribeca condo. The building combines a 175-room Four Seasons Hotel on the first 22 floors and houses 157 luxury condos on floors 39 to 82. Adjacent to the Woolworth Building, the building boasts of amenities such as a full-service garage, health club, screening room, and children’s playroom.

Who’s looking to beat that top spot? If you have an NYC apartment you’ll looking to purchase, let us know in the comments. For more NYC real estate news,  connect with AMAA on Facebook and Twitter!

We are your source for special inspection and related services in New York and the entire metropolitan area. With over 50 years of experience, we are known for both our high standards and specialized services. We have supported the work of some of the largest and most prestigious developers, retailers and more. Call us today at 212.867.6720 or visit our website for more information.

Construction Industry Job Growth is Booming

The country’s population is rapidly increasing, making for a need of two things: places to live and jobs to work. While there has been concern that unemployment rates are still higher than ideal, there is some good news on the building front: job growth in the construction industry is growing faster than any other industry in the country.

What was the construction industry’s employment rate before?

It was reported that the industry’s unemployment rate rose to 9.4%. However, it’s job growth is actually rising as well. There were 105,000 construction hirings between September 2016 and January 2017 alone, which sets a very good precedent for the rest of the year. The industry as a whole had previously been concerned about a lack of growth, but these new hirings are signs of new hope.

Why is the construction industry’s job growth rising?

While we can assume that more people joined the industry’s job market in search of construction jobs, it can also be connected to hopes of working with a forthcoming infrastructure-led stimulus package. In addition, the industry’s growth faced an issue in which more jobs kept opening up, but were not filled. (This most likely stemmed from the construction industry’s habit of wanting to limit compensation.)

What does this say about construction companies?

Constructions firms seem to be trying harder to retain workers. It has become necessary to hold onto talented employees, and there is a sense of security that workers will be needed as more projects become available. Firms also are losing that practice of limiting compensation, which makes for better profit margins.

What does this mean for New Yorkers?

Signs point to several large-scale projects, including an expansion of the Javitz Center and renovations to Penn Station. While there will be a small dip in the residential projects, commercial markets are going to get stronger.

Want to know more about NYC construction news? Connect with AMAA on Facebook and Twitter!

We are your source for special inspection and related services in New York and the entire metropolitan area. With over 50 years of experience, we are known for both our high standards and specialized services. We have supported the work of some of the largest and most prestigious developers, retailers and more. Call us today at 212.867.6720 or visit our website for more information.