The homeowners at the Zeckendorf Towers in Gramercy Park voted in favor of a smoking ban, making the 647-unit tower the largest smoke-free condominium building in the city, the condominium board said in a release.
The issue saw a record-high turnout for the building: Of the 85 percent of unit owners to vote, 83.5 percent supported the amendment regarding all residential units and public areas. Thanks to a grandfather clause, all current owner-residents who smoke cigarettes will receive a three-year window before their units are subject to the policy, the release said.
Located at 1 Irving Place near Union Square, the 29-story building is one of a few condo buildings whose unit owners have led the charge in switching to a non-smoking environment. Several complaints about cigarette smoke in the building date back to 2010, the release said.
-Rents are up, vacancies are down in April — and trends show no signs of changing-
Rents continue to rise in both Manhattan and Brooklyn, according to monthly market reports from leading residential brokerages released today. And the market is only slated to tighten further, real estate executives said. [read more]
Developer Larry Silverstein is this close to finally building his long-planned tower at 30 Park Place. Silverstein has made an agreement with Children’s Investment Fund Management LLP for up to $660 million in construction financing, according to the Journal. Not bad, even if Silverstein did promise to break ground on the project in 2012. If/when it does get built, the Four Season Hotel and Private Residences New York Downtown will, as the name suggests, include a 189-room Four Season hotel and 157 condo units. The most expensive of these condo’s will probably ask around $34 million. And the whole thing will come in a Robert A.M. Stern-designed package meant to evoke 1920′s architecture, a welcome choice in the context of other FiDi new construction.
Home prices rose by 9.3% in February from one year ago, the largest such gain in the Standard & Poor’s/Case-Shiller 20-city index in nearly seven years.
Tuesday’s report is the latest sign that the U.S. housing market has rebounded after home prices hit a bottom one year ago. The report showed broad-based home price gains, with all 20 cities that compose the index posting year-over-year price gains.
Here are five takeaways from Tuesday’s report:
1. Prices set to rise: Price increases are likely to continue because there are more buyers chasing fewer homes for sale. At the current pace of sales, it would [read more]
Music mogul L.A. Reid is checking out of 515 Park Avenue.
Reid, who nurtured the careers of Mariah Carey, Paula Abdul and Justin Bieber, has listed his 10th-floor condominium at the white glove building, StreetEasy shows. Once a judge of Fox’s “The X Factor” and CEO of Epic Records, Reid wants $18.9 million and has tapped the Modlin Group and Brown Harris Stevens as the co-exclusive brokerages.
Modlin Group head Adam Modlin declined to comment.Maria Torresy & Angela Holton have the BHS listing. [read more]