HOUSE_OVERSIGHT_022440.jpg
1.86 MB
Extraction Summary
5
People
3
Organizations
9
Locations
3
Events
3
Relationships
3
Quotes
Document Information
Type:
News article
File Size:
1.86 MB
Summary
This document is a news article about the real estate boom in the Upper East Side of Manhattan, driven by new developments and the anticipated opening of the Second Avenue subway. The article interviews real estate professionals and a recent homebuyer to illustrate the trend of development moving into previously less-prime areas like Yorkville. This document has no apparent connection to Jeffrey Epstein, despite the user's prompt.
People (5)
| Name | Role | Context |
|---|---|---|
| Jason Karadus | Director of Sales for the Charles |
Quoted in the article about the changing real estate market in NYC. Works for the firm Town.
|
| Ginger Brokaw | Sales associate |
Mentioned as working with Jason Karadus on sales for the Charles building.
|
| Eric Brody | Managing Partner, Wonder Works |
Quoted about a new condo development on 96th Street and its proximity to the new subway.
|
| Andrew Ellis | Consultant / Homeowner |
A 31-year-old consultant who bought and renovated a duplex in Yorkville in 2013, citing the future subway as a key re...
|
| Brian Zak | Photographer |
Credited with taking the photograph of Andrew Ellis in his backyard.
|
Organizations (3)
| Name | Type | Context |
|---|---|---|
| Town | ||
| Extell | ||
| Wonder Works |
Timeline (3 events)
2013
March (year unspecified)
Developer Wonder Works bought a three-story garage for $24 million.
302 East 96th Street, New York, NY
Post-2013
Andrew Ellis completed a massive year-long renovation on his duplex, adding a rear deck and koi pond.
Yorkville, New York, NY
Locations (9)
| Location | Context |
|---|---|
|
FDR (Franklin D. Roosevelt Drive)
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|
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Second Avenue subway station for 96th street
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|
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Murray Hill
|
|
Relationships (3)
The article states Jason Karadus is director of sales for the Charles 'along with Ginger Brokaw'.
The article identifies Eric Brody as 'Wonder Works' managing partner'.
Andrew Ellis states, 'My high school friends and some college friends are migrating to the Upper East Side.'
Key Quotes (3)
"The preconceived idea of what was considered prime and where you would build luxury has completely changed... A lot of people in the industry smirked at the pricing — about $2,500 per square foot ... Now it's not so risky, which is why you're seeing companies like Extell building up what's left to be developed up there."Source
— Jason Karadus
(Describing the shift in New York City's luxury real estate market and development trends.)
HOUSE_OVERSIGHT_022440.jpg
Quote #1
"The Second Avenue subway station for 96th street, which will be one of the first ones opened, is just 200 feet away... The buyer is anyone who can't afford to be in all these downtown neighborhoods, but still wants to live in the city and have incredibly close access to a train."Source
— Eric Brody
(Explaining the appeal of a new condo development and identifying the target demographic.)
HOUSE_OVERSIGHT_022440.jpg
Quote #2
"I had sort of grown out of that... My high school friends and some college friends are migrating to the Upper East Side. One is two doors down, literally, and two others are a few blocks away. Having that subway there eventually is really what did it for me. This place can only go up."Source
— Andrew Ellis
(Explaining his personal reasons for moving from Murray Hill to Yorkville, highlighting the influence of friends and the future subway.)
HOUSE_OVERSIGHT_022440.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (2,474 characters)
"The preconceived idea of what was considered prime and where you would build luxury has completely changed," says Jason Karadus of Town, who is director of sales for the Charles along with Ginger Brokaw. "A lot of people in the industry smirked at the pricing — about $2,500 per square foot ... Now it's not so risky, which is why you're seeing companies like Extell building up what's left to be developed up there."
First look! Once a three-story garage, 302 E. 96th St. will become a 21-story luxury condo.
Photo: Handout
Photo: Handout
Every developable parcel seems to be getting snatched up. Just take a three-story garage on 302 East 96th Street, which developer Wonder Works bought in March for $24 million. On the northernmost border with Harlem, the developer plans to put up a 21-story, 48-unit "affordable luxury" condo building — basically right on the approach to the FDR. (Don't worry, the facade will have extra soundproofing.)
"The Second Avenue subway station for 96th street, which will be one of the first ones opened, is just 200 feet away," says Eric Brody, Wonder Works' managing partner, who adds that brokers are recommending asking prices of $1,500 to $2,300 per square foot when units go on sale next year. "The buyer is anyone who can't afford to be in all these downtown neighborhoods, but still wants to live in the city and have incredibly close access to a train."
Public transit of the future is why Andrew Ellis bought a fixer-upper on 95th Street and Second Avenue in 2013. The 31-year-old consultant paid a mere $430 per square foot for a one-bedroom garden-level duplex.
Then came a massive year-long renovation that updated the windows and kitchen appliances. He also completely redid the backyard, adding a rear deck and koi pond. In Yorkville, Ellis discovered a "neighborhood feel" that was a far cry from the raucous scrum of Murray Hill, where he had been renting.
Then came a massive year-long renovation that updated the windows and kitchen appliances. He also completely redid the backyard, adding a rear deck and koi pond. In Yorkville, Ellis discovered a "neighborhood feel" that was a far cry from the raucous scrum of Murray Hill, where he had been renting.
"I had sort of grown out of that," says Ellis, who is no longer alone in his move uptown. "My high school friends and some college friends are migrating to the Upper East Side. One is two doors down, literally, and two others are a few blocks away. Having that subway there eventually is really what did it for me. This place can only go up."
Andrew Ellis stands in his Yorkville backyard, which he completely redid, adding a deck (so that the outdoor space was accessible from the upstairs living room of the duplex) and a koi pond.
Photo: Brian Zak
Photo: Brian Zak
HOUSE_OVERSIGHT_022440
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