NYC Is Finally Getting its Own Regional MLS

The Multiple Listing Service of Long Island (MLSLI) and Hudson Gateway Multiple Listing Service have just merged, creating a regional multiple listing service (MLS) called New York MLS.

The new service will consist of about 40,000 real estate professionals in New York City boroughs Queens, Brooklyn, Manhattan and the Bronx, along with Westchester, Nassau, Suffolk, Putnam, Rockland, Sullivan and Orange counties.

Discussions of a consolidation began back in June 2017, and the service is expected to be fully operational some time next year.

“With the alliance of two successful MLSs, members gain entry to a vast selection of integrated technology tools and resources, which will better serve their buyers and sellers,” said Jim Speer, senior vice president of operations for MLSLI, who will be the CEO of the new MLS.

The new platform aims to be a one-stop-shop for all regional real estate needs. Its surprising that despite the volume of the NYC market, its residential firms have never shared a central listing service.

Abandoned Queens Hospital to Become 350 Mixed-Income Apartments

Jasper Venture Group has completed an important step in the delayed conversion of the decaying Parkway Hospital in Forest Hills, Queens. The developer entered the project, 350 market-rate rental apartments, into New York City’s Uniform Land Use Review Procedure (ULURP) for public review.

The hospital was closed in 2008 after a prolonged legal battle, and it was shortly picked up by Jasper Venture Group at auction. Original plans by the developer for condos fell through and attempts at selling the property were unsuccessful. Since 2016, they have been working with local officials to convert the site into affordable housing.

The group plans to add two stories to the existing six-story structure and build 135 market-rate apartments, including senior housing. It also wants to build an additional 216 apartments in a 14-story tower on the property.

The first step in the public review process is the local community board and the Queens Borough President; then proposal will be reviewed by the City Planning Commission, followed by the City Council, and the Mayor.

Article by: Katya Demina

One Of The Oldest Homes in Brooklyn Transformed into Luxury Mansion by Female Developers

One of the oldest townhomes in Brooklyn, located at 59 Middagh Street, is coming to market for $11.5 million after an extensive renovation. Developers Jennifer Robertson and Brenda Walker, founders of 522 Commercial Real Estate, spearheaded the project. Together they both boast over 40 years of expertise in all aspects of commercial real estate and capital markets.

Located a five minute subway ride from Wall Street, the 29-foot wide, 6,300-square-foot, fully renovated and modernized townhouse offers six bedrooms, five full bathrooms and three powder rooms, as well as breathtaking views of the Manhattan skyline from one of the most historic neighborhoods in the United States, Brooklyn Heights.

The property is within walking distance of the beloved local Promenade, Cadman Plaza Park, Brooklyn Bridge Park and Walt Whitman Park – providing an abundance of green space for a new homeowner. 59 Middagh Street underwent a meticulous gut renovation and expansion by Alan Berman, AIA, in conjunction with Dutchman Contracting, on behalf of 522 Commercial Real Estate. The parlor floor of the house has been designed as fluid space without walls, with the living room in the front, dining room in the middle, and the kitchen at the back of the house. The kitchen opens up to a deck with stairs that lead down to a large 1,035-square-foot private garden.

According to Clay Lancaster, a 20th century authority on American architecture, 59 Middagh St. was originally a farmhouse built in 1832 for William Rog, a professor of Hebrew. The property was also owned by two famous New York dynasties in the 19th century: the influential Middaghs – the pre-revolutionary clan who gave the street its name, and the Hicks – Long Island royalty whose roots in New York go back to the 1600s.

A fully equipped gym and sauna, along with functioning bar area, occupy the basement floor. The second floor features the master bedroom suite, which spans the width of the house, a large dressing room, a master bathroom with dual vanities, and a separate bathroom. The third floor offers three bedrooms, each featuring built-in closets and bathrooms, as well as a large laundry room. Crowning the house on the fourth floor is an impressively designed sunroom with terraces at either end, and a wet bar for entertaining. An elevator runs throughout the property, enabling easy access to all floors.

Ravi Kantha and Matthew Lesser, of the luxury real estate and townhouse specialist Leslie J. Garfield, are representing the palatial, historic property.

Article by: Katya Demina

New York City’s Plans to Build Four New Jails Met with Protests

As part of the movement to reform its criminal justice system, New York City wants to open four, borough-based jails to achieve its long term goal of closing the notoriously violent and dysfunctional Rikers Island.

Residents of Lower Manhattan convened last week at a town hall style meeting, where city officials attempted to justify the proposal, often without being able to finish a sentence. They touted the new plan, arguing that it would bring inmates closer to their families and the courthouses, improving their chances of successful re-entry after release. Other services such as mental health programs, education, and rehab facilities would also be more accessible.

Chinatown residents jeered at city officials.

One of the proposed 40-story jails would replace a current government building at 80 Centre Street in Chinatown and would include a ground floor of retail space. The city’s goal is to reduce the current number of incarcerated persons from 9,000 to 5,000.

"They should reform the jail system. Not move it down to our community,” said Mary Wu, a resident of Chinatown. "If they want to be close to their relatives to visit, move it to their community.” She thinks the area would benefit from senior and affordable housing instead of a jail.

Although the intention to close the 86-year-old prison complex is good, expanding the criminal justice footprint by opening other prisons doesn’t seem to address the problems that Rikers had: correctional misconduct, bail, and bad policing. Aside from better lighting and slightly smaller size, the city has failed to address how the prisons will be safer for both inmates and correctional officers.

Brandon Holmes, coordinator of advocacy group Close Rikers Campaign, points out that “the city would also need to undertake a dramatic overhaul of its criminal justice system, enacting radical changes such as ending bail bonds, cutting back on detention for low level offenses, and reevaluating pretrial detention as a whole,” in order to hit the target goal and to avoid overcrowding when and if Rikers is closed.

Article by: Katya Demina

River Club at Hudson Park Opens for Leasing in Waterfront Yonkers

River Club at Hudson Park, a new luxury rental tower located in Yonkers’ thriving waterfront neighborhood, has officially launched leasing as of September 17th, announced developer Strategic Capital, the investment arm of China Construction America. Situated along the Hudson River at 63 Wells Avenue, the 24-story building will introduce a new standard of luxury to Westchester County with its meticulously designed apartments and extensive suite of amenities. At 240-feet tall, unprecedented views will be a hallmark of the tower and provide sweeping panoramas of the Hudson River, New Jersey Palisades and New York City skyline.

This project signifies the fourth and final building in Strategic Capital’s 16-acre waterfront development along a half mile of the Hudson River Promenade. Hudson Park is helping to spearhead the revitalization of Downtown Yonkers, transforming it into a living destination of choice for many New Yorkers on the hunt for homes at a better value in close proximity to New York City. Located steps from the historic Yonkers rail station, it is just a 28 minute train ride to Midtown Manhattan.

“Yonkers is becoming a destination,” said Phillip Gesue, Chief Officer of Development at Strategic Capital. “It’s cultivated its own artistic and creative communities, welcomed great restaurants and created an award-winning brewery. The recent influx of luxury residential real estate, such as River Club, is making it a very attractive place to call home.”

The building’s 214 residences, which range from studios to two-bedroom apartments, were designed by acclaimed architectural design firm JSA. Each home features white oak floors throughout and floor-to-ceiling windows allowing for an abundance of natural light, as well as breathtaking views of the Hudson River and New York City skyline. Kitchens have been stylishly designed with dark walnut cabinetry, granite countertops and a subway-tile backsplash, and feature Energy Star Whirlpool appliances and Kohler fixtures.

Photo credit: Donna Dotan Photography.

Photo credit: Donna Dotan Photography.

River Club offers a state-of-the-art fitness center with touch-screen equipment, as well as an indoor swimming pool with lounge seating overlooking the Hudson River. The building is outfitted with the latest in home technology, including an automated package concierge locker system for deliveries, a Butterfly MX smartphone video intercom and real-time transportation information provided by Transit Screen. Those looking to socialize will enjoy the roof-level River Club Bar, where residents can lounge comfortably while taking in expansive views at a reclaimed wood-and-quartz bar that adds a stylish detail.  

First move-ins at River Club at Hudson Park are slated for October 2018. Pricing for studios begins at $1,720; $2,595 for one-bedrooms, $2,870 for two-bedrooms.

Photo credit: Kim Wendell Design.

Photo credit: Kim Wendell Design.

Article by: Katya Demina