Manhattan Real Estate

Manhattan Real Estate Apartments For Sale and Rent, Condos


$750,000 1 BR in Midtown East




New York NY Midtown East (42-59)

Web ID#: 26313
Property Type: Mid-rise
Beds: 1
Baths: 1
Price: $750,000


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Simply the best offer in Midtown East, this Flexible 2 bedroom is priced to go now. Gourmet kitchen with updated appliances and luxurious tiled baths. Breathtaking views. You’ll find it unbeatable in size for the money in Manhattan rentals. This not-to-be-missed quiet condo puts luxury and value together in one package. Don’t forget the elevator, a doorman, a central laundry room, and the convenience of a canopied entryway. In the hub of vibrant Manhattan real estate, surrounded by incredible architecture and landmarks like the United Nations building, the buildings tree-lined block is part of the thriving Turtle Bay area--one of those glad-to-be-alive neighborhoods with everything from parks to restaurants to museums to shopping. Easy access to public transportation. Let Nest Seekers bring a great deal to you in Manhattan condos.

Beth Lustbader
cell: 917.445.3327
bethl@nestseekers.com

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$2,110,000 2 BR in Upper East Side




New York NY Upper East Side (59-96)

Web ID#: 26312
Property Type: Hi-rise
Beds: 2
Baths: 2
Price: $2,110,000


view full listing
The Two Bedroom Residence
With south west views and 9 foot ceilings, you will quickly grow to love this apartment. It contains all of the usual amenities such as, Bosch washer/dryer, Poggenpohl cabinets, Gaggenau stainless steel dish washer stove and microwave.

The additional luxuries make up the icing on the cake, like solid white oak floors with your choice of a dark or light finish. Solid-core painted flush doors with door levers in chrome Himalaya satin Valli & Valli.

Since the unit is on the southwest corner of the building, the living / dining room will have good exposure and light due to this advantage. The master bath contains radiant heated mosaic white marble floors, complemented by marble walls, an integrated LCD screen inside the mirror and a Zuma tub.

The Building
World class concierge service is at your disposal 24/7 to accommodate you and your family. The fitness center is a two level complex with pool and machines for your physical development. On site parking private and bicycle storage is available so don't miss this opportunity to live in one of Manhattans most exclusive buildings.

This is an opportunity which speaks for it self, contact us today to schedule your personal preview at 718-877-8100


The Upper East Side Neighborhood
Upper East Side is demarcated by 59th to 96th Streets and Central Park to the East River.

The Upper East Side
Among the most expensive and affluent neighborhoods in the United States, the Upper East Side has a diverse and interesting history. From 59th to 96th Streets and Central Park to the East River, the upper east side was largely undeveloped land in the early 19th century. In the latter part of the 1800\'s development began to stir due to an influx of immigrants and migrants to the city. By the 1890\'s most of the upper east side contained residential developments housing working class people.

The late 19th, early 20th century witnessed the influx of the rich and affluent who quickly developed land along Park and 5th Avenue up to 96th street. As the 20th century progressed so did the luxury apartment building and residences which brings us to the present day upper east side.

Residential Areas We Specialize In:
We are also specialists in Midtown West, Upper West Side, Upper East Side, Midtown East, Chelsea / Flatiron, Murry Hill / Gramercy, Kips Bay, Greenwich Village, East Village / Lower East Side, Tribeca / SOHO, Battery Park City (BPC), Financial District (FiDi), Harlem, South of Harlem (SOHA), East of Harlem (EOHA), North of Harlem (NOHA), Washington Heights and Inwood.

Other Manhattan Apartments in our Inventory:
Damon C. Carpentier

Damon C. Carpentier
direct: 646.443.3789
cell: 718.877.8100
damonc@nestseekers.com

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$297,000 in Midtown East




New York NY Midtown East (42-59)

Web ID#: 26265
Property Type: Hi-rise
Baths: 1
Price: $297,000


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NO BOARD APPROVAL. Enter the charm of the 16th Century while living in New York City. Open and airy condo lets in lots of natural light. Sweeping views of the East River, updated kitchen, hardwood floors, casement windows, and great closets that add up to a top value in Manhattan apartments for sale. Best space for the money. Maintenance includes utilities. Enjoy beautiful lobby and pre-war details in a well kept landmark building along with private gardens and parks across the street. Amenities feature a doorman, elevator, new laundry room, 24 hour health club, bike storage, video security, and a contemporary newsstand/convenience store.

Beth Lustbader
cell: 917.445.3327
bethl@nestseekers.com

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Marcus & Millichap taps Brooklyn head to lead Manhattan, Connecticut region

The regional manager of the Brooklyn office for national investment sales firm Marcus & Millichap Real Estate Investment Services, J.D. Parker, will be promoted to regional manager for the Manhattan and Connecticut offices tomorrow, company officials told The Real Deal. Parker has been running the Brooklyn office for three years, and before that was a sales manager for the company in Manhattan. Bernard Haddigan, managing director who oversees the east coast operations for California-based Marcus & Millichap from the Atlanta office, will make the announcement tomorrow at a company meeting at the firm's Midtown office, where Parker will be based. The current regional manager for Manhattan and Connecticut since 2007, Edward Jordan, will leave management and return to brokerage, Haddigan said. He will be an associate vice president of investments in the Connecticut office, based in New Haven. Haddigan said Parker was transferred to Manhattan as part of a plan by the California-based company to grow in the New York area.


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Curbed Photo Pool: Best of the Curbed Photo Pool

Photogs, want to contribute to the Curbed Photo Pool? Then join our Flickr group!

· Curbed Photo Pool [Flickr]

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$1,750,000 2 BR in Soho Tribeca




New York NY Soho Tribeca (Chambers-Houston West Broadway)

Web ID#: 26295
Property Type: Loft
Beds: 2
Baths: 2
Price: $1,750,000


view full listing
TriBeCA Condominium for sale.

http://www.nestseekers.com/Company/Agent/766

Truly one of a kind. This amazing two bedroom two bath loft like apartment offers the finest European finishes.High End Contemporary Design combined with historical details and charm awaits you. Private key locked elevator opens right into the unit.
Small boutique condominium with only 7 units, all of them are full floor apartments. This is an outstanding opportunity to move into prime Tribeca location and that under two million dollars.

Have you been looking for the real deal, if the answer is yes, you now certainly have found it.

To schedule a private viewing please contact Alexander at alexd@nestseekers.com. Flexible showing hours are available!

I am looking forward to presenting to you the outstanding product.

http://www.nestseekers.com/Company/Agent/766

Alex Dietrich
direct: +1 646-309-1898
alexd@nestseekers.com

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Open House Open Thread: What’s a little rain to a…

What's a little rain to a serious hunter? If you're out and about in the New York City real estate market this weekend, let us know what you're seeing out there: crowd sizes, market conditions, great or gruesome finds, and, of course, any apartments turned party palaces. Your thoughts in the comments, if you please.

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curbed marketplace: Sunday Open House Roundup

2010_03_OH13.jpg
Time for this week's open house roundup from your friends at Curbed Marketplace. More where this came from in our Open House Calendars. And a reminder: sales listings are only $25 this month.

Sunday Sales
  1. 265 Riverside Drive, 1BR, 1BA, $465K [Stribling]
  2. 36 Sutton Place South, 2BR, 2BA, $1.299M [Stribling]
  3. 100 Riverside Boulevard, 3BR, 3BA, 1463 sq ft, $2.59M [NestSeekers]
  4. 345 East 57th Street, 2BR, 1BA, $975K [Stribling]
  5. 503 East 13th Street, 3BR, 2BA, 1200 sq ft, $1.05M [Citi Habitats]
  6. 11 Lispenard Street (above), 2BR, 2BA, 2058 sq ft, $1.895M [Stribling]
  7. 440 East 57th Street, 1BR, 1.5BA, 1100 sq ft, $785K [A. Fine Company, Inc.]
  8. 186 Fifth Avenue, Studio, 1BA, 2418 sq ft, $2.495M [Stribling]
  9. 300 East 59th Street, 1BR, 1.5BA, 1100 sq ft, $1.075M [NestSeekers]
  10. 468 West Broadway, 2BR, 2BA, $2.5M [Stribling]
  11. 2235 Frederick Douglass Blvd, 3BR, 2BA, 1250 sq ft, $599K [Prudential Douglas Elliman]
  12. 100 West 58th Street, 2BR, 2BA, 1176 sq ft, $1.495M [NestSeekers]
  13. 10 West End Ave, Studio, 1BA, 600 sq ft, $765K [Prudential Douglas Elliman]
  14. 515 E. 72nd St., 1 BR, 1 BA, 685 sq ft, $914K [Corcoran Sunshine]
  15. 200 E. 66th St., 3 BR, 3 BA, 2,285 sq ft, $4.5M [Corcoran Sunshine]
  16. 400 E. 67th St., 2 BR, 2.5 BA, 1,418 sq ft, $2.05 M [Corcoran Sunshine]
  17. 311 West Broadway, 3 BR, 3.5 BA, 2,598 sq ft, $7.65M [Corcoran Sunshine]
  18. 122 Greenwich Ave., 2 BR, 3 BA, 2,113 sq ft, $6.25M [Corcoran Sunshine]
  19. 34-13 80th St, 2BR, 1BA, $399K [Corcoran Sunshine]
  20. 177 Ninth Ave., 4 BR, 4.5 BA, 3,176 sq ft, $5.825M [Corcoran Sunshine]
  21. 350 West Broadway, 3 BR, 4.5 BA, 3,521 sq ft, $10.35M [Corcoran Sunshine]
  22. 311 E. 11th St., 2 BR, 2 BA, 1,205 sq ft, $1.9M [Corcoran Sunshine]
  23. 251 7th St., 1 BR, 1 BA, 646 sq ft, $395K [Corcoran Sunshine]
  24. 166 Perry St., 2 BR, 2 BA, 1,496 sq ft, $2.75M [Corcoran Sunshine]
  25. 75 Wall St., Studio, 1 BA, 441 sq ft, $570K [Corcoran Sunshine]

Sunday Rentals
  1. 100 West 58th Street, 2BR, 2BA, 1276 sq ft, $7000 [NestSeekers]
  2. 288 Lexington Avenue, Studio, 1BA, 450 sq ft, $1900 [NestSeekers]
  3. 41 West 72nd St, 1BR, 1BA, 692 sq ft, $2950 [Prudential Douglas Elliman]
  4. 221 East 50th St, Studio, 1BA, 465 sq ft, $1800 [Prudential Douglas Elliman]
  5. 502 Park Ave, 4BR, 3BA, 2300 sq ft, $20000 [Prudential Douglas Elliman]
  6. 142 West 76th St, Studio, 1BA, 550 sq ft, $1900 [Prudential Douglas Elliman]
  7. 200 Chambers St, 2BR, 2.5BA, 1624 sq ft, $9200 [Prudential Douglas Elliman]
  8. 212 East 83rd St, Studio, 1BA, $1800 [Prudential Douglas Elliman]
  9. 61 West 62nd St, 2BR, 1.5BA, $4150 [Prudential Douglas Elliman]
  10. 754 Greenwich Street, 1BR, 1BA, $2695 [NestSeekers]

· Properties for Sale [Curbed Marketplace]
· Properties for Rent [Curbed Marketplace]
· Sales Open House Calendar [Curbed Marketplace]
· Rentals Open House Calendar [Curbed Marketplace]

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Corcoran Sunshine Spring Open House

QL-163x70_b.jpg
Visit 12 of NYC's most desirable developments
Next open house
Saturday & Sunday, March 13-14, 11am-5pm

Complete Event Guide [Corcoran Sunshine]

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Week in Review: Barclays Center Breaks Ground; 1182 Broadway Tenants Evicted


This week's top stories: Liveblogging the Barclays Center Groundbreaking!, Illegal Conversion Boots Tenants from 1182 Broadway, Another New Luxury Rental Tower Opens Its Doors, Theater Guru Wants Out of Soho's Celeb-Friendly 30 Crosby, One Madison Park Buyers Can Get Their Money Back, P.S. 234 Surprised to Find Out It's in the Real Estate Business, Jean Nouvel's MoMA Tower Hit With Legal Challenge, Journey Ending for PriceChopped Tribeca Penthouse, Examining Manhattan's Real Estate Agent Oversupply, Flashy New 200 West Opens Monday

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$740,000 in Gramercy

Park Avenue South

New York NY Gramercy (14-34 East 5th Ave)

Web ID#: 18118
Property Type: Loft
Baths: 1
Price: $740,000


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Design pur- Lebe den amerikanischen Traum.

Die Einheiten in dieser NEW CONVERSION, sind von Grund auf neu designet. Hochwertigste Ausstattung in den offenen Kuechen und den Badezimmern. Die Deckenhoehe mit beinahe 5 Metern verleiht den Apartments den einzigartigen Loftcharackter.

Die Hauseigene Lounge laedt zu einem entspanneden Drink ein. Der Fitnessbereich gibt Ihnen die Freiheit sich auch koerperlich jederzeit zu betaetigen und der 24 Stunden Concierge Service verleiht Ihnen das Gefuehl in einem Hotel zu leben.

Die Designer Apartments befinden sich auf der Park Ave.South zwischen Union Square und Grand Central Station umgeben von erstklassigen Restaurants und Boutiquen.Der Madison Square Park und der Gramercy Park nur einen Katzensprung enfernt (siehe Fotos) und die U-Bahn Haltestelle ist eine Querstrasse weiter ebenfalls einfachst zu erreichen.

Alles in Allem das ultimative Leben in Top Lage

Studios zum Startpreis von: $ 740,000.

Letzte 2 Zimmer Einheit: $ 1,030,000.

Letzte 3 Zimmer 2 Bad Einheit: $ 1.940.000.

Es besteht ausserdem noch die Moeglichkeit das Layout Ihrer Wohnung mitzugestallten, da einige Einheiten noch miteinander verbunden werden koennen.


TOP INVESTMENT!!!!

Bedenken Sie wie schwach der Dollar DERZEIT ist.


FUER MEHR INFORMATIONEN UND ODER EINE PERSOEHNLICHE FUEHRUNG KONTAKTIEREN SIE
Alex Dietrich TELEFONISCH 646 309 1898 ODER VIA E-MAIL alexd@nestseekers.com

Fotografien der individuellen Einheiten koennen auf Wunsch zugesandt werden.

Alex Dietrich
direct: +1 646-309-1898
alexd@nestseekers.com

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$549,000 1 BR in Long Island City




Long Island City New York Long Island City

Web ID#: 26286
Property Type: Loft
Beds: 1
Baths: 1
Price: $549,000


view full listing
http://www.nestseekers.com/Company/Agent/766

Electric loft-inspired residence feature spacious sun-drenched layouts, high ceilings and huge windows. Radiant kitchens of quartz and stainless steel are sleek and streamlined. Lux baths blend crisp modernism with seductive comfort. The amenities are exceptional. The fitness center includes a lavish, full-service spa. Theres a spectacular screening room, a fabulous lounge, a business center and a childrens play area.

Also available large Loft Studio for $49.000.

Amenities
- Roofdeck
- Pool
- Fitness Center
- Billiard Room
- Children's Play Room
- Screening Room

Residences
- Walnut Hardwood Floors
- Oversized Windows
- Viking Appliances
- Concierge Direct

* Doorman
* Concierge
* Health Club
* Pool
* Roof deck
* Elevator
* Garage

* Loft
* Washer/Dryer
* Central A/C
Amenities
Screening Room

* Doorman
* Concierge
* Health Club
* Pool
* Roof deck
* Elevator
* Garage

* Loft
* Washer/Dryer
* Water view
* Pool
* Central A/C

To set up a private viewing please register at alexd@nestseekers.com

http://www.nestseekers.com/Company/Agent/766

Alex Dietrich
direct: +1 646-309-1898
alexd@nestseekers.com

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$550,000 1 BR in Long Island City




Long Island City New York Long Island City

Web ID#: 26286
Property Type: Loft
Beds: 1
Baths: 1
Price: $550,000


view full listing
http://www.nestseekers.com/Company/Agent/766

Electric loft-inspired residences feature spacious sun-drenched layouts, high ceilings and huge windows. Radiant kitchens of quartz and stainless steel are sleek and streamlined. Lux baths blend crisp modernism with seductive comfort. The amenities are exceptional. The fitness center includes a lavish, full-service spa. Theres a spectacular screening room, a fabulous lounge, a business center and a childrens play area.

Also available large Loft Studio for $49.000.

Amenities
- Roofdeck
- Pool
- Fitness Center
- Billiard Room
- Children's Play Room
- Screening Room

Residences
- Walnut Hardwood Floors
- Oversized Windows
- Viking Appliances
- Concierge Direct

* Doorman
* Concierge
* Health Club
* Pool
* Roof deck
* Elevator
* Garage

* Loft
* Washer/Dryer
* Central A/C
Amenities
Screening Room

* Doorman
* Concierge
* Health Club
* Pool
* Roof deck
* Elevator
* Garage

* Loft
* Washer/Dryer
* Water view
* Pool
* Central A/C

To set up a private viewing please register at alexd@nestseekers.com

http://www.nestseekers.com/Company/Agent/766

Alex Dietrich
direct: +1 646-309-1898
alexd@nestseekers.com

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$915,000 in Wall St/Seaport/Battery Park




New York NY Wall St/Seaport/Battery Park (Chambers and down)

Web ID#: 26285
Property Type: Hi-rise
Price: $915,000


view full listing
http://www.nestseekers.com/Company/Agent/766

Residence Features

9′ 8″ Ceilings heights in living room and bedroom.
18′ living room ceiling height in duplex residences
3.5″ Burmese teak floors
8′ 2″ double-glazed plate glass windows with horizontal shade pockets
Individual climate control in each residence
High-speed Internet, cable television and satellite wiring
Asko washer and dryer

Building Features

The Prime New Development offers an original collection of 5-star hotel services and unmatched amenities:

André Balazs designed Lobby Lounge
24-hour doorman and concierge
Terrace hot tub with outdoor shower

Penthouse Sky Lounge with catering kitchen, private dining room and entertainment terrace, overlooking lower Manhattan, New York Harbor
and the East and Hudson Rivers

Large, professional screening room / dance lounge with wet bar
Landscaped sundeck on 47th floor
Indoor parking with valet
Fully-equipped, indoor/outdoor fitness center
Glass-enclosed lap pool with lounge-deck and bar
Outdoor basketball court with bleachers
Squash court
Outdoor handball and tetherball courts
Sauna & steam rooms
Men’s and women’s locker rooms
Refrigerated storage in lobby for perishable deliveries
Covered outdoor dog run

Bathing Suite

The unique bathroom is intended as a retreat from busy urban life with flexible spaces, designed for both convenience and style.

Adjustable, full-height louvered doors w/ Deep soaking Tub, 5′6″ x 4″
Separate shower and water closet enclosure
Wall Tile: white, flat-edge, matte-finish ceramic wall tile 4″ x 16″
Floor Tile: white matte ceramic wall tile 4″ x 16″
Custom cantilevered Corian vanity with finely crafted Corian mirror surround
Integrated custom medicine cabinet with integrated lighting
Toto Carolina Water Closet

Kitchen

The State-Of-The-Art Kitchen is finished in the same spirit as the bathing suite and perfectly proportioned for everyday convenience.

Concealed kitchen – all appliances are faced with cabinetry matched panels
Custom white high gloss lacquered cabinetry
Caesarstone counter top and sliding backsplash with concealable faucet set
Custom Caesarstone countertop with sliding walnut butcher-block
Blanco stainless steel kitchen sink with Vola faucet in satin chrome finish
Fully integrated refrigerator or freezer
Miele gas cook top w/ Integrated stainless steel hood
Bosch 30″ convection oven
Stainless steel GE Microwave
Miele Incognito dishwasher.

To set up a private vieing please register at alexd@nestseekers.com

http://www.nestseekers.com/Company/Agent/766


Alex Dietrich
direct: +1 646-309-1898
alexd@nestseekers.com

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$940,000 1 BR in Midtown East


East 49th Street

New York NY Midtown East (42-59)

Web ID#: 26284
Property Type:
Beds: 1
Baths: 1
Price: $940,000


view full listing
http://www.nestseekers.com/Company/Agent/766

Brand New Development!! Welcome to your new state-of-the-art home in the heart of Midtown Manhattan. Located on East 49th Street and Third Avenue, you\'ll be walking distance from everything New york City has to offer. You\'re minutes from Grand Central Terminal, Bryant Park, Rockefeller Center, and many more....

Your home features 11.5 feet high ceilings with floor to glass windows and hardwood flooring throughout. There\'s individually controlled A/C & heating systems and Miele washer/Dryer. Contemporary kitchen cabinetry designed by Poggenpohl, granite countertops, Sub-Zero refrigerator/freezer, Viking gas cooktop and oven, Viking microwave, and a Miele dishwasher completes the kitchen ensemble. Bathroom features - limestone floors and walls, vessel sink, custom vanity and millwork, and a heated towel bar.

Building amenities:
24 Hour Doorman and Concierge
Equinox Fitness Center
Landscaped Roof terrace
Cold Food Storage Room
Private Storage
15 Years Tax abatement

Midtown East
Midtown East, from 30th Street to 59th Street on the East Side of Manhattan, offers hotels that are conveniently located near many of NYC\'s most popular sights including Carnegie Hall, Museum of Modern Art, Radio City Music Hall, St. Patrick\'s Cathedral, Rockefeller Center and Grand Central Terminal. Midtown East includes the neighborhoods of Murray Hill and Sutton Place.

Major Sights
Roosevelt Island Tramway 60st Street & Second Avenue
Bloomingdale\'s 59th Street & Lexington Avenue
Plaza Hotel 59th Street & Fifth Avenue
F.A.O Schwartz 58th Street & Fifth Avenue
Trump Tower 57th Street & Fifth Avenue
IBM Building 57th Street & Madison Avenue
Museum of Television and Radio 52rd Street & Fifth Avenue
St. Patrick\'s Cathedral 51st Street & Fifth Avenue
Waldorf Astoria 49th Street & Park Avenue
Rockefeller Center 48th Street & Fifth Avenue
United Nations Building 45th Street & First Avenue
Helmsley Building 45th Street & Park Avenue
Grand Central Terminal 43rd Street & Park Avenue
Chrysler Building 42nd Street & Lexington Avenue
Bryant Park 42nd Street & Sixth Avenue
The New York Public Library 42nd Street & Fifth Avenue
Daily News Building 41st Street & Second Avenue
The Empire State Building 34th Street & Fifth Avenue
Amenities

* Balcony
* Dining Room
* Washer/Dryer
* Central A/C

To set up a private viewing please register at alexd@nestseekers.com

http://www.nestseekers.com/Company/Agent/766

Alex Dietrich
direct: +1 646-309-1898
alexd@nestseekers.com

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$2,675,000 3 BR in Upper East Side




New York NY Upper East Side (59-96)

Web ID#: 26283
Property Type: Mid-rise
Beds: 3
Baths: 3
Price: $2,675,000


view full listing
The Building
24/7 concierge service, pristine glass / steel residential structure with full world class amenities at your disposal. You will not regret the purchase of this property

The Residence
Curtain floor to ceiling windows give radiant light & life to this posh three bedroom residence with South to West views, poggenpohl kitchen cabinets, quartz back spash and counter tops. Hardwood flooring runs through out the unit, the master bath has radiant heated floors, a kholer tube, and a steam shower.

Opportunities such as this don\'t come along often, contact us today to schedule your personal preview at 718-877-8100


The Upper East Side Neighborhood
Upper East Side is demarcated by 59th to 96th Streets and Central Park to the East River.

The Upper East Side
Among the most expensive and affluent neighborhoods in the United States, the Upper East Side has a diverse and interesting history. From 59th to 96th Streets and Central Park to the East River, the upper east side was largely undeveloped land in the early 19th century. In the latter part of the 1800\'s development began to stir due to an influx of immigrants and migrants to the city. By the 1890\'s most of the upper east side contained residential developments housing working class people.

The late 19th, early 20th century witnessed the influx of the rich and affluent who quickly developed land along Park and 5th Avenue up to 96th street. As the 20th century progressed so did the luxury apartment building and residences which brings us to the present day upper east side.

Residential Areas We Specialize In:
We are also specialists in Midtown West, Upper West Side, Upper East Side, Midtown East, Chelsea / Flatiron, Murry Hill / Gramercy, Kips Bay, Greenwich Village, East Village / Lower East Side, Tribeca / SOHO, Battery Park City (BPC), Financial District (FiDi), Harlem, South of Harlem (SOHA), East of Harlem (EOHA), North of Harlem (NOHA), Washington Heights and Inwood.

Other Manhattan Apartments in our Inventory:
Damon C. Carpentier

Damon C. Carpentier
direct: 646.443.3789
cell: 718.877.8100
damonc@nestseekers.com

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Park Avenue Bank shut down, marks second NYC bank collapse in two days


Donald Glascoff's (left) Park Avenue Bank has been shut down with its deposits sold to Valley National Bank, headed by Gerald Lipkin (right)
Federal and state regulators have shut down the Park Avenue Bank and sold its deposits to Valley National Bank, marking the second seizure and asset sale of a New York City bank in two days. The State Banking Department closed the bank citing ineffective management and inadequate capital as well as a high volume of non-performing loans. “We determined that the management team’s inability to address the problems in the consent order led to the bank being critically undercapitalized,” said Richard Neiman, supervisor of the state Banking Department. "This issue coupled with the high volume of non-performing loans held by Park Avenue meant that the bank could no longer operate in a safe and sound manner." The FDIC entered into a loss-share transaction on $379.8 million of Park Avenue Bank’s assets. Park Avenue Bank reported assets of $520.1 million and deposits of $494.5 million, according to the FDIC. The bank’s four branches will reopen as branches of Valley National Bank. Last night, state regulators shut down and sold the assets of LibertyPointe Bank, the struggling lender owned by Brooklyn-based developer Shaya Boymelgreen. Asked whether the collapse of two small New York banks was a start of a new trend, FDIC officials acknowledged that commercial real estate lending is playing a larger role in bank failures.


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The Long Story of the Building at 104-106 Bowery

Dan Barry revisits the history of the Bowery and looks for the last resident of a flophouse, the subject of a 2004 column.

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Priciest, cheapest units to hit the market


From left: 34 East 74th Street and 308 Mott Street

The priciest Manhattan home to hit the market this week is a six-bedroom, four-bathroom townhouse on the Upper East Side at 34 East 74th Street according to Streeteasy.com. The 6,216-square-foot house is on the market for $15.95 million and is listed by Carrie Chiang and Loy Carlos of the Corcoran Group. The home has a private garden, terrace, wine cellar and elevator. The cheapest Manhattan unit to come online this week is a two-bedroom, one-bathroom co-op at 308 Mott Street on the Lower East Side. The sixth-floor walkup unit, listed for $199,000, is being marketed by Marion Hedges and Mary Latimer-Chung of Prudential Douglas Elliman. Click here for more.


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Riverton owners face $4M transfer tax


The Riverton Houses and Larry Gluck
The new owners of the rent-stabilized Riverton Houses in Harlem that sold at auction yesterday will have to pay a hefty transfer tax of just under $4 million after they take title to the property in the next couple of days, real estate experts said. Financial firm CWCapital Asset Management, the special servicer for the loan on the 1,228-unit complex between 135th and 138th streets and Fifth Avenue and Harlem River Drive, won the property at an auction yesterday with a bid of $125 million. Since it was representing the commercial mortgage trust that held the Riverton loan, it effectively put the foreclosed property back into the hands of the lender. Tom Fink, senior vice president of Trepp, which tracks mortgage-based securities, estimated the tax liability to be $3.8 million.


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