NYC Real Estate Roundup

FEBRUARY 14, 2012

Rent hike: Market reports continue to show that Manhattan rents are up and climbing–suggesting that it may be a great time to start investing in your own apartment, rather than in your landlord's building. In January, rents rose 5% compared to last year, to $3,352. The shiny new downtown rental building by Frank Gehry at 8 Spruce Street (shown) was partly to blame, because of its high rental rates  (Gothamist).

The Apthorp hosts antique auction: An apartment in The Apthorp on the Upper West Side–one of the city’s grandest apartment buildings–will be the showcase for art, furniture and home decor items during the upcoming Rago Gallery auction of 20th- and 21st-century design. Interior designer Stephen Sills combines his creative skills with the desirability factor of apartment #6M at this popular NYC condo (via CasaSugar).

NYC subway extension update: A new batch of work-in-progress photos provides more evidence that taking the subway to 11th Avenue in Midtown will likely soon become a reality. The new $2+ billion subway extension project is set to open to the public in 2014 to accommodate major new growth and development in the far West Side neighborhood (Gothamist).

Brooklyn park perks up: Plans were announced for renovations to Fort Greene Park in Brooklyn, with $2.55 million recently approved for the renovation. Recent growth in the already-popular historic Fort Greene neighborhood means more park visitors. Fix-up plans include work on public bathrooms, landscaping and drainage, and the park’s Willoughby Street entrance (Brownstoner).