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BidOnTheCity.com: Buy Manhattan Real Estate at Auction

If you can survive buying or selling real estate in New York City, you can survive the process anywhere (well, maybe London and Tokyo would be rough). I've bought twice and sold once in NYC, and am pretty sure some of my gray hair arrived during those months. Recently I heard about BidOnTheCity.com, "eBay for Manhattan real estate." Intriguing! You can buy or sell, but unlike most other auction sites, you can only bid at a certain time, in person or online, Sundays at noon. Even brokers can get involved. Here's how it works. Read some press coverage here.

Tags: apartments, auction, bid on the city, BidOnTheCity, new york, new york city, NewYork, NewYorkCity, real estate, RealEstate

Affordable Apartments At The Mandarin Oriental Up For Lottery

by Deidre Woollard (RSS feed) —

As my colleague Jared Paul Stern mentioned back in October, Boston's most expensive penthouse located atop the brand new five-star Mandarin Oriental hotel is for sale for $17 million. But those who can't afford that can still get into Back Bay's new luxurious address if they win the lottery of 10 affordable apartments in the building. The lottery is part of a city initiative to bring middle-income residents to the city's pricier addresses.

Starting on Monday, the building swill begin accepting applications for a lottery that will select tenants to live in building for rents ranging from $1,254 to $2,172 a month for the one- and two-bedroom apartments. Rents on the 25 market-rate apartments range from $6,000 to $13,000 a month. The Boston Globe reports that to qualify, individuals must make between $48,050 and $72,050 a year, and a family of four, between $68,650 and $102,950. Those who already live in Boston and handicapped tenants will be given preference. The apartments are identical to the higher-priced units including Atlantic green granite counters in the kitchen, Portofino marble in the bathrooms, soundproof windows and access to the concierge downstairs. Applications can be picked up at the lower level of the Prudential Center at 800 Boylston St. beginning Monday.

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Tags: apartments, boston, mandarin oriental, MandarinOriental

Sheraton Residences in Spain

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Sheraton is getting into the apartment business in Spain. The hotel company has announced that their first ever apartment 'Residences' will be available to purchase at the Med Group's Bonmont golf and residential community on the Costa Daurada, south of Barcelona. There will be seven buildings, each with four two-bedroom Residences next to the 136-room, five-star Sheraton Bonmont Golf Resort & Spa. The Bonmont residential community is built around an 18-hole golf courses and facilities include a golf academy, gym and restaurant as well as three swimming pools and tennis courts.

All apartments will be fully furnished in the same style as the hotel and will be priced from 600,000 euros. The Residences can be divided into two units so owners can live in one half and rent the second out, or rent all of it either as two one-bedrooms or one two-bedroom. Rentals will be managed by the Sheraton hotel in Bonmont. The hotel and apartments are now being built and set to open at the beginning of 2009.

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Tags: apartments, barcelona, bonmont, sheraton, spain

Plaza Sets A New York Record

by Deidre Woollard (RSS feed) —

Filed under: Estates

When I first started hearing about the plans to turn the Plaza Hotel into condos, the predictions that records would be set began to be bandied about. Now it looks that it has come to pass. The New York Observer is reporting that an apartment at the recently redone Plaza Hotel has gone to contract for at least $50 million, making it the biggest apartment sale in New York City. The Plaza will also be home to real estate kingpin Harry Macklowe, Bear Stearns C.E.O. James Cayne, race-car mogul Flavio Briatore, Tommy Hilfiger and Jocelyn Wildenstein. The big question is who is the buyer.

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Tags: apartments, housing, new york, NewYork, plaza, prices, real estate

Ireland's Tallest Building To Be Home To Apartments

by Deidre Woollard (RSS feed) —

Windsor House in Belfast, Ireland isn't the prettiest building I have ever seen but it is, for now, the tallest building in Ireland. It will also now be home to luxury apartments. Building company P Elliott, has bought Belfast's Windsor House for around 44 million euros with the plan to turn it into fancy apartments. The building has a prime location in the city business district. Both Dublin and Ireland are becoming home to more and more high-rise complexes and costs have soared in both cities.

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Tags: apartments, belfast, ireland, towers, windsor house, WindsorHouse

3224 Lofts, Urban Chic in St. Louis

by Deidre Woollard (RSS feed) —

Filed under: Estates

A reader sent in pictures of his unique apartment building in St. Louis. 3224 Locust is the site of the Cadillac Automobile Building built in 1919. The historic four-story building with terra cotta columns and detailed brickwork is now home to modern lofts. The apartments are for rent now but will most likely be up for sale in three years. There are eight residential and two commercial spaces as well as the top floor which is currently the home of the owner. The owner's space is a three bedroom, three and a half bath space filled with contemporary furniture. The rest of the units are mainly two bedrooms with around 2,000 square feet of space which are currently available for lease. The owner is considering leasing his apartment with an option to buy in three years for $2.5 million. You can contact him through the building website if interested.

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Tags: apartments, development, loft, st louis, StLouis

One St. Thomas, Toronto

by Matthew Collins (RSS feed) —

Filed under: Estates

Toronto is ever the hot real estate market with new condos and residences coming online left and right. The newest one to hit the lot is One St. Thomas. This fantastic building is designed by the great Robert A.M. Stern in an Art Deco style that is very glamorous and functional. Many units enjoy terraces due to the ziggurat-style tapering of the upper floors. Residents will enjoy luxury amenities such as an indoor swimming pool with men's and women's locker and steam rooms, a paneled private dining room for large dinner parties, and a concierge, security, valet, and doorman to make your life all the more luxurious. The residences themselves feature fixtures by Waterworks, hardwood and marble flooring, and lovely fireplaces. This 29-story structure is in the heart of the most upscale area of Toronto, with shops like Hermes and Vuitton just around the corner.

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Tags: apartments, condos, estates, toronto

Dorra Bay, Another Dubai Marina Project

by Deidre Woollard (RSS feed) —

Filed under: Estates

It's been a while (nearly six months) since we heard about a new project going on at the Dubai Marina. The latest development to be announced is Dorra Bay. The project is being built by real estate developers Cayan and is practically a modest project compared to the 80-story twisting Infinity Tower which they are also building in the Dubai Marina. Dorra Bay will be a 22-story residential tower located between the beach and the marina. All apartments will have views of the sea, the marina or the harbor. The building will include one, two and three bedroom apartments, duplexes, garden terrace apartments and penthouses. There will also be summer town houses on the marina front. Amenities include swimming pools, children's play areas, gymnasiums and a business center.

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Tags: apartments, dorra bay, DorraBay, dubai, dubai marina

Avalon Bay Asylum Project

by Nicole Weston (RSS feed) —

Filed under: Estates

The site of the Danvers State Hospital for the mentally ill in Massachusetts is being renovated by Avalon Bay Communities, Inc. into a complex of luxury condos. Avalon is planning on putting in 497 units in total. They intend to create a "'campus-like environment' with a swimming pool, WiFi cafe and fitness center. Rents will start around $1,400 for a one-bedroom, and about half-a-million dollars for a condo." The 40 or so buildings on the 75-acre property are being demolished, though the central portion of the original 313,000-square foot Kirkbridge building, pictured, is being preserved as an historical monument.

The hospital was built in the 1870's and has been called one of the "world's scariest buildings." Some people believe that it is even haunted. The architecture is Gothic and the majority of the rooms were built in the style of a dormitory, as the facility was meant to house around 600 patients. During the 1950s, allegations of various shock therapies and lobotomies being used to control the overcrowded facility that held more than 2,000 residents were common and continued until the Hospital was completely closed in 1992. Avalon Bay bought the facility for $18 million.

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Tags: apartments, asylum, building, condos, danvers, danvers state hospital, estate, gothic, haunted, historic, hospital, lunatic, massachusetts, mental hospital, patients, rennovation, world's scariest building

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