To See is to Believe...Insane Car Porch Coming to NYC Condos!

Imagine a home that celebrates your most fervent passions. View the video of this Lamborghini Aventador parking in Living Room of this condo at the Hamilton Scotts, one of Singapore's most coveted addresses, only a select few can ever call home. An iconic apartment that welcomes your arrival with your own car porch in the sky. A residence of distinction that invites you to lounge in the subtleties of sublime luxury. And a space that has been meticulously designed around you, and more importantly, the things that matter most to you. A similar version a robotic car parking system is already available and offered to the residents of One York for a mere $250,000, but that's nothing compared to the $1,000,000 parking spot at 42 Crosby in SoHo. Jimmy Kimmel takes us on a sneak peak below.

Sneak Peak at $1,000,000 Parking Spot on Jimmy Kimmel

See the Car Porch in Action

Lifestyles of the Rich and Famous...$28,000,000 Condo for Sale.

As a special treat, we are highlighting the listing for the 11-room condo Penthouse that was home to the the late entertainment legend, Joan Rivers.  With meticulously restored architectural details, ornate décor and double-height entertaining rooms, it is true that they just don't make them like they used to! The triplex residence is in a fully staffed limestone mansion, originally built at the turn of the century as one of the opulent mansions of the Gilded Age. It features 2 kitchens, 4 bedrooms, 4.5 bathrooms, a library, dining room, 5 fireplaces, two terraces and the home's centerpiece: the a grand ballroom and music rooms with 23 ft high ceilings. Add in staff rooms, storage and closets galore for a grand total of 5100 sqft. As Joan used to say, "It is what Marie Antoinette would have done if she had the money!"

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34% Price Per Square Foot Increase in Brooklyn

February was another strong month for Brooklyn. More sales of smaller units,and at higher price points, applied upward pressure on prices leading to a 34% increase in price per square foot year over-year. For the first time since April 2014, Brooklyn posted double digit year-over-year price per square foot increases for all four bedroom types. Sales also increased this month, as Brooklyn had a 59% growth in contracts signed versus February 2014. While all of this is great news for sellers, there is a silver lining for buyers: only 40% of buyers paid above asking price in February, compared to 55% of buyers a year ago.

Corcoran's Monthly Market Snapshot: Brooklyn

Union Square About to Get Another Facelift

The home of Tammany Hall is set to get a massive face lift in the near future, promising to truly elevate the look of 17th and Union Square East. Currently home to the New York Film Academy and various retail tenants, the building was once the famed hotbed of political corruption. A New York City Landmark, the current controversy has been over the proposed turtle shell glass dome, meant as a tribute to Native American Chief Tamanend, who was of the turtle clan and the namesake of Tammany Hall. Originally rejected by the Landmarks Preservation Commission as too modern, BSKS Architects presented a modified version which was approved a few weeks ago. 

The new design will feature a reconfigured fourth through sixth floors, which would include the dome and would be for a single tenant. The design would allow a person on each of the upper floors to see down to the floors below. The proposal also would remove the theater, restore the facades, replace signage, create new entrances on 17th Street, and remove plaques from the eastern end of the 17th Street side of the building to replace them with windows. Judging by the renderings, the new design would in many ways restore much of the facade to be more in line with the original presentation of the building. 

The building, located at 44-48 Union Square East and 100-102 East 17th Street, was completed in 1929 by architect Charles B. Meyers. It replaced the old Tammany Hall building, which was on 14th Street and was completed in 1868. Elise Quasebarth of the preservation firm Higgins Quasebarth & Partners said the building has a "rich political and cultural history." It was sold in 1943 to a union, which owned it until 1984. A few have stepped forward to petition for it to house a museum about political corruption, but it is likely this will not gain the needed support. 

Design Comparisons

New Manhattan Condos Expected to Ease Inventory Shortage this Spring

While the weather did not let up, February brought a sunny disposition to Manhattan sales which increased 19% year over year as well as inventory, up 4% year over year. While this is great news for both buyers and sellers, it is mainly due to a dramatic increase increase in Condo sales (up 31%), most of which were deals over $2M. For buyers, there is a light at the end of the tunnel, as price per square foot was down for both Condo and Co-op sales in the city, and a large number of new buildings poised to launch this spring should give some relief to the inventory crunch. Likewise if you have been thinking of selling now may be the time to make a move, prior to these new offerings in the marketplace.

Corcoran's Monthly Market Snapshot: Manhattan