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Life - Entertain

Manhattan’s Skyscrapers, Now Yours to Call Home

Developers are turning century-old New York office buildings into residential condos, hoping to dazzle buyers with a slice of history.

By

WSJ Real Estate

MANSION Manhattan’s Skyscrapers, Now Yours to Call Home

Dorothy Hong for The Wall Street Journal

Developers are turning century-old New York office buildings into residential condos, hoping to dazzle buyers with a slice of history. The trend is a reflection in part of dwindling opportunities for developers to acquire vacant land in desirable Manhattan locations and the fluctuating economics of the commercial and residential real-estate sectors.

A Mile-High Building Boom in Denver

Ryan David Brown for The Wall Street Journal

A booming tech industry and strong job market have fueled an apartment-building frenzy in the midsize, mile-high city of Denver. Median rents in Denver grew to $1,184 in 2015, up from $777 in 2005—a 52% increase. Now, some local real-estate experts say the balance is shifting, with the supply of new housing matching or even exceeding demand. The result: Rental-price growth already shows signs of softening.

The Big, New Thing in Building? Wood

LEVER Architecture

One of the newest materials in mid-rise residential and office construction comes from an old source: trees. With the emergence of cross-laminated timber, or CLT, and nail-laminated timber (think plywood, but much thicker and stronger), architects are able to design buildings of 10-to-12 stories or more with timber cores and panels.

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COMMERCIAL REAL ESTATE Goldman Sachs to Buy House-Flipping Lender

Brendan Mcdermid/Reuters

The latest frontier for Goldman Sachs Group Inc. : house flippers. Goldman Sachs is acquiring Genesis Capital, a private Los Angeles firm that backs investors seeking to buy, renovate and quickly sell single-family homes, according to people familiar with the matter.

HOUSE OF THE DAY A Newport, R.I., Carriage House—Restored

Michael Osean

After falling for two units in this circa 1892 former carriage house, the owners bought both and combined them into a home.

GREATER NEW YORK REAL ESTATE New York Shifts Course on Big Buildings on Far East Side

Thomas Juul-Hansen

In a reversal, city planners are assisting a group of neighbors trying to halt ongoing construction of an 800-foot tower across from the luxury high rise where many in the group live.

Condo and Retail Project Targets Flush Buyers in Flushing

Conway+Partners

To many visitors Flushing is something of a puzzle. The streets are bustling with people and teeming with low-rise stores that serve the large Asian-American community, interspersed with newer condo and commercial ventures. But the overall look is drab. Now a local developer is building what it hopes will be a high-fashion commercial and residential center in the heart of the neighborhood. The 1.2-million-square-foot mixed-use development is called “Tangram,” for a puzzle that originated in China. Nearby, SkyView Parc, a huge condominium and retail complex with six separate condo towers, is headed toward a sellout, a decade after its first apartments came on the market.

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