Latest news with #Serhant
New York Post
4 hours ago
- Business
- New York Post
A downtrodden NYC rental may return to its Gilded Age glory
Plans to return this forlorn home to its Gilded Age glory were designed by a descendant of the original architect. A rundown rental at 471 West End Ave. in Manhattan is on sale for $6.95 million, but this vacant building comes with a grandiose redesign plan — and an architectural legacy to match. The 25-foot-wide townhouse was originally designed as a single-family townhome by influential New York architect Stanford White's firm, McKim, Mead & White, in the late 1880s. The once-grand mansion spent the past several decades on the decline as a multifamily rental, standing as a strange holdout among the prestigious avenue's massive, stately apartment buildings. A fresh sale aims to change that. 8 A rendering of the proposed redesign. Delatour Studio 8 The top floor is designed with a large skylight that floods the room with natural light. Delatour Studio The building is being represented by Jade Shenker of Serhant, co-exclusively with Newmark, as a single-family home conversion. The deal comes with an ambitious redesign plan crafted by Platt Byard Dovell White (PBDW) Architects — of which Samuel White, a great-grandson and scholar of Stanford White, is a founding partner. The scheme would transform the dreary four-story residence into a luxurious single-family home, boasting five bedrooms and 20-foot ceilings. The 10,105-square-foot floor plan, which adds on a fifth story, includes a wine cellar, a wellness suite and a rooftop deck. The home, sandwiched between two sizable apartment buildings, comes with a rare backyard space, as well. The plans by PBDW Architects pay homage to the home's history, Shenker told The Post. They also have the advantage of being pre-approved by the Landmarks Preservation Commission and the Department of Buildings. The property last sold in 2022 for $4.3 million, according to city records. The savvy investors who snapped it up saw the potential, Shenker said. 'It's a very rare townhouse shell,' Shenker said. 'They knew that they could make it into something really special.' 8 The current state of the vacant townhouse. Google Maps 8 Stanford White. Bettmann Archive The home's proposed revival by White's great-grandson's firm is an elegant architectural bookend, but there's a whole lot of history in between. According to the blog Dayton in Manhattan, in which local historian Tim Miller chronicles architectural history across the city, early-1900s court records document a dramatic food fight on the home's lower floor between a ladies' maid and a cook. The charges were dismissed, according to records, given that the maid 'had been sufficiently aggrieved by a shampoo of spinach to warrant her in propelling the butter.' The property was owned for several decades by the Agudas Israel World Organization until the 1990s, Miller reported. The organization advertised newly renovated apartments at the property in 1967 'for Victims of Nazi Persecution.' A fire in 2013 damaged the vintage interiors, Miller reported. The building went to market in 2016 and languished there for six years. 8 A bedroom features a fireplace and large windows. Delatour Studio 8 A large bathroom with amble vanity space and a free-standing tub. Delatour Studio 8 The design pays homage to the home's Gilded Age past, but with a fresh, luxury twist. Delatour Studio 8 The back of the proposed townhouse, including balconies and a terrace. Delatour Studio Stanford White remains a controversial yet legendary figure in New York City history. His residential designs for his generation's robber barons defined the city's Gilded Age, and his design for the Washington Square Arch remains an iconic local symbol. This sale of one of his designs conveniently comes alongside the buzzy third season of HBO's hit series 'The Gilded Age,' the lavish buildings and interiors of which were inspired by White.
New York Post
8 hours ago
- Entertainment
- New York Post
Anish Kapoor asks $17.75M for his NYC home
You may have never seen the striking sculptural works of Anish Kapoor with your own eyes — but you've certainly seen them on Instagram. Kapoor is known for Chicago's 'Cloud Gate' bean sculpture — a shiny sight for any tourist visiting the Windy City, which often makes its way online — as well as New York's own version, which is at the base of the 57-story 56 Leonard St. Now the Mumbai-born British artist is re-listing his home at that very Tribeca tower — featuring abundant light flooding in from its floor-to-ceiling windows on the 47th floor. 6 Anish Kapoor. Getty Images 6 Anish Kapoor's popular 'Cloud Gate' in Chicago. Getty Images 6 Kapoor's New York bean sculpture is at the base of 56 Leonard St., where the sculptor is trying once more to sell his apartment. Rich Caplan 6 This bedroom also looks out to incredible views. Rich Caplan 6 The vistas even dazzle in the nighttime. Rich Caplan 6 Beyond Kapoor's sculpture right outside, the amenities inside are also fantastic, such as this lap pool. Rich Caplan The 3,576-square-foot apartment is now on the market for $17.75 million, down slightly from its $17.99 million ask last year with a different brokerage. It has four bedrooms and 4.5 baths. Kapoor bought his unit directly from the sponsor for roughly $14 million in 2016. The elegant home opens from a private elevator landing, and features high ceilings, stunning views and three private outdoor spaces. And it's all in a building designed by world-renowned architects Herzog & de Meuron. Other perks include a great room with 12-foot ceilings, a fireplace and an open chef's kitchen. The main bedroom corner suite opens to a terrace, and comes with an oversized walk-in closet, and a spa-like bath in travertine and marble with radiant-heated floors. Building amenities, along with the Kapoor sculpture at the building's base, include an indoor lap pool with a sundeck, a gym, a screening room, a residents' lounge, a private dining room and a children's playroom. The listing brokers are Krista Nickols and Martin Garcia, of Serhant.
Daily Mail
3 days ago
- Business
- Daily Mail
Ritzy NYC neighborhood rocked by foreclosure surge
Published: Updated: It's known for its facades. Both its buildings, and the people they house, need to keep up appearances. But one of them has failed, and it's not the 100-year-old New York City buildings that are in trouble. It's those who live in an elite ZIP code who are desperately trying to keep up with the Joneses and no longer can. A slew of wealthy residents along Manhattan's historic Park Avenue have had their apartments foreclosed on recently. In fact, foreclosure rates are soaring across New York City overall. New figures reveal a double-digit spike in mortgage defaults across the city this spring. The swanky stretch of Park Avenue, that's lined with manicured gardens, logged a cluster of foreclosures, despite the sky-high property prices. 'Interest rates are rising, there is high economic distress, many times generational wealth does not mean someone is liquid,' luxury Serhant realtor Peter Zaitzeff (pictured) told the Daily Mail. 'Pandemic-era protections against foreclosure are also gone, so that is also a factor.' New York also remains notoriously expensive, even for the rich. Even when adjusting for inflation, the cost of living in wealthy ZIP Codes in New York has increased far above national averages. It's often hard for residents to keep up. The latest foreclosure report from shows an 11 percent jump in New York City foreclosures in the second quarter of 2025, compared to the same period last year. In Manhattan, which has a population of 1,628,000 according to the US Census, 46 homes were hit with new foreclosure filings from April through June — a 15 percent year-over-year increase. Shockingly, eight of those were located in ZIP code 10022, a posh section of Park Avenue, lined with manicured flower beds, luxury boutiques, and homes listed at a median price of $1.3 million. Yet, this wealthy enclave was still affected. Zaitzeff said that when people start getting in over their heads, they often take out cash loans thinking they can easily repay them. 'Many borrowers who took out loans at a low-interest rate didn't fully repay them and now they still owe, and they will owe more and more as they repay slowly or not at all,' he said. 'It's difficult for individuals to cover their debt.' And while there's always action in the New York real estate market, for luxury rentals, investor-heavy areas like Midtown Manhattan are seeing less demand since the pandemic. For example, a studio in the historic Parc Vendome building on West 57th Street has entered into foreclosure and is selling at $525,000 — a steal for Manhattan. A Central Park adjacent 1-bedroom, 1-bathroom foreclosure is selling for $565,000 on the West side. A studio on 9th Avenue in Hell's Kitchen is foreclosed and selling for $394,700. While Manhattan is seeing foreclosures, the neighboring borough of Brooklyn is now officially the city's top foreclosure spot. Brooklyn saw 129 first-time filings in the second quarter of this year, a massive 36 percent spike compared to the same time in 2024. The ZIP code 11236, which covers Canarsie and East Flatbush, led the list, with 17 new foreclosures in just three months. Meanwhile, Queens saw 128 foreclosure filings, which was down 20 percent from a year ago. The Bronx is facing a foreclosure crisis of its own, with 57 new cases filed in the spring, which is up a jaw-dropping 73 percent from the same time last year. That figure surpasses the borough's previous five-year high recorded earlier this year. Staten Island isn't faring much better, with 48 foreclosure filings, up 25 percent year over year. Of the 408 foreclosure filings citywide this spring, two-family homes accounted for one-third of all cases. Single-family home foreclosures actually declined by 2 percent. But all is not doom and gloom. Zaitzeff says a foreclosure could work in a buyer's favor. Getting yourself a knowledgeable realtor who can access a deep foreclosure database is key. 'The banks want these foreclosures off their books, so in general they are very willing to negotiate,' he said.
Yahoo
30-06-2025
- Business
- Yahoo
Zohran Mamdani's win could mean more wealthy New York transplants to Florida, developer says
South Florida experienced a wave of new residents from the Northeast during the pandemic as people fled strict lockdowns, school closures and the shuttering of businesses. But will there be another surge out of New York City with democratic socialist Zohran Mamdani poised to become the Democratic nominee for mayor? Mamdani, 33, who declared victory in the party's primary June 24, campaigned on promises that some business owners and affluent residents oppose. Those include freezing rental costs, offering free childcare, eliminating city bus fares, creating city-owned grocery stores, and hiking the taxes on the wealthiest New Yorkers and biggest corporations. "Just when you thought Palm Beach real estate couldn't go any higher … ," Gov. Ron DeSantis said in a social media post with a link to a poll that put Mamdani ahead of opponent and former Gov. Andrew Cuomo before the primary results were released. One day after the election, at least one South Florida developer said he and his properties had gotten calls from people in New Jersey, Manhattan and Connecticut who are interested in moving to Florida. "Obviously, what they see happening makes them nervous and they want to plan their future and have peace of mind," said Isaac Toledano, CEO and co-founder of BH Group, which is working with the Miami-based Related Group to build the Ritz Carlton Residences in West Palm Beach. "I think the rush is going to start now because the unknown is something people don't like." Realtors who deal in high-end properties said their phones are also ringing with people surprised about the result of the primary election and interested in potentially buying in Florida. "Local politics matter, almost more than national politics, and if local is going to a more socialist form of government, you could lose some of your really wealthy taxpayers," said Nathan Zeder, co-founder of the Jills Zeder Group in Miami. "The calls and texts, the response yesterday, was way more than what I anticipated." Celebrity real estate agent Ryan Serhant, who has a Netflix show called "Owning Manhattan", told the New York Post that his "number one job will be moving people from New York to Florida. Again." 'Based on the results, clients are going to hold off on making any kind of investment in New York City," Serhant said in the New York Post story. Serhant specializes in New York real estate but has recently made a push into Palm Beach County with $100-plus million sales in the town of Palm Beach and offices in Delray Beach and Jupiter. He was previously on Bravo TV's "Million Dollar Listing New York." Florida got a boost in New York transplants during COVID-19. According to the U.S. Census Bureau, 254,097 New York state residents moved to the Sunshine State between 2021 and 2023. The number of people who traded in their New York driver's licenses in 2022 for ones with a Palm Beach County address totaled 8,059, which was a 38% increase from the average over the previous six years. "Today is a great day for the state and we welcome businesses who want to grow jobs and families who want to live in safe communities!" Florida U.S. Sen Rick Scott wrote in a June 25 social media comment. Scott linked to a post from the National Republican Congressional Committee that called Mamdani an "antisemitic socialist radical." Mamdani has declined to condemn the phrase "globalize the intifada," which is widely considered by the Jewish community as a call to violence. He has also referred to Israel's war in Gaza against Hamas after the Oct. 7, 2023 attacks as a genocide. Mamdani has also said he would have Benjamin Netanyahu arrested if the prime minister of Israel came to New York. Other Palm Beach County Realtors said they have not fielded calls yet from New Yorkers antsy about what Mamdani's agenda may bring, but they don't doubt they will come. "We had the pandemic, then we had the Trump bump and this is another reason why folks may want to move here," said Elizabeth DeWoody, founding principal of real estate firm Compass Palm Beach. "We are an incredible, pro-business, forward-thinking community." The nonprofit Citizens Budget Commission, which tracks New York's economy and business finances, found New York City lost $3.1 billion in adjusted gross income from 19,540 New Yorkers who moved to Palm Beach County between 2018 and 2022. It lost an estimated $809.3 million from people who moved to Broward County during the same time period, and $6.1 billion from people who moved to Miami-Dade County. More: West Palm Beach feels growing pains amid wealth influx as neighborhoods navigate change "It was all New York until recently, or the Northeast," DeWoody said. "Now it's California, and I think we will see New York again. Sometimes it's just one thing after another that seals the deal for people." Billionaire John Catsimatidis, whose Red Apple Group has real estate investments in Florida, said he would close or sell his Manhattan-based chain of grocery stores if Mamdani wins November's general election, according to a New York Post story. Mamdani's competitors for the mayor's seat include current Mayor Eric Adams, Guardian Angels founder Curtis Sliwa, former federal prosecutor Jim Walden and possibly Cuomo. Stay up to date on South Florida's sizzling real estate market and sign up for The Dirt weekly newsletter, delivered every Tuesday! Exclusively for Palm Beach Post subscribers. 'We can't compete with Mamdani opening city-run supermarkets for free,' Catsimatidis said in the New York Post story. In an interview with The Free Press, he said he'd spend more time in Florida. Christian Prakas, a founding partner of Ryan Serhant's real estate office in Delray Beach, said he's already been in touch with his boss about the possible increase in New-York-to-Palm-Beach-County moves. "He thinks it's going to be bad up there," Prakas said. Kimberly Miller is a journalist for The Palm Beach Post, part of the USA Today Network of Florida. She covers real estate, weather, and the environment. Subscribe to The Dirt for a weekly real estate roundup. If you have news tips, please send them to kmiller@ Help support our local journalism, subscribe today. This article originally appeared on Palm Beach Post: DeSantis muses about palm beach real estate after Zohran Mamdani won
CNBC
25-06-2025
- Business
- CNBC
Ryan Serhant on the state of real estate, NYC mayoral race
Ryan Serhant, Serhant founder and CEO, joins 'Power Lunch' to discuss the latest housing data to cross the tape, the state of real estate and much more.
