Real Estate News Roundup

JULY 4, 2012

Residential inventory fell sharply in Manhattan in the second quarter of 2012. Superior Ink at 400 West 12th Street Condos Reports show the number of Manhattan co-ops and condos for sale dropped 13.5 percent from the same period last year, though prices overall remained largely unchanged year-over-year. There was, however, a 14.5 percent median price increase over the previous quarter. As a result of the inventory shortage, prices are expected to rise (TheRealDeal).

Sales recently began at Chelsea’s Walker Tower at 212 West 18th Street. The one- to five-bedroom units in the building are selling for between $4.5 and $50 million, with big-ticket penthouse price tags rivaling those of the recently sold Sky Loft penthouse in TriBeCa and at the Robert A.M. Stern-designed Superior Ink at 400 West 12th Street. The five-bedroom apartments in the converted office building were created to appeal to current buyers craving more space for bigger families, a layout currently found more frequently in uptown buildings such as Manhattan House at 200 East 66th Street (NYObserver).

Residents of buildings like Century Towers at 175 West 12th Street and 145 West 12th Street living near the location of the planned AIDS memorial in the St. Vincent’s triangle in Greenwich Village are mostly in favor of new designs for the project. The memorial structure will be made of steel and will include evergreen foliage, a water feature and seating at the edge of the neighborhood’s already-existing park (CurbedNY).

Murray Hill and Kips Bay food lovers will soon have a new reason to rejoice. Kips Bay will be the newest Manhattan neighborhood to have a Fairway Market in their midst at Second Avenue and 30th Street (Racked).