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Today's Featured Building: Nolita Place

NolitaPlaceNYC.jpg
The Bowery in Manhattan, New York City, is known as the island’s oldest thoroughfare, dating back to the 17th century. The name Bowery comes from the Dutch word “bouwerij”, which translates to “farm”, and the road was named as such because it was used to connect several estates in Manhattan at the time.
CBGB, the legendary music venue once located at 315 Bowery


Over the years, Bowery has undergone many transformations, beginning life as a quiet road flanked by farmland. One such large farm was the one of Petrus Stuyvesant, the last Director-General of New Amsterdam prior to the British takeover and subsequent renaming of New York City. Stuyvesant later retired to him farm for his final years and to this day, his impact on New York can be seen with the many parks and buildings named for him, including Stuyvesant Town, Stuyvesant Square, and Stuyvesant High School.


By the early 1800s, Bowery had attracted the attention of many of the city’s wealthiest families and large homes began to line the street, similar to Fifth Avenue to the north. Bowery also became a haven for theaters as Broadway had not yet reached its current dominance. In the 1820s, several rich families came together to build the famed Bowery Theatre, which at the time of its opening was the largest theater in the United States, seating 3,500 patrons. The Bowery Amphitheatre was built shortly thereafter, and was used as a venue for circus and equestrian shows.


Bowery’s prominence did not last, however, and by the time the American Civil War began, Bowery had lost a lot of its elegance. Instead, it had become home to brothels, pawn shops, and flophouses. By the end of the 19th century, Bowery was a hot bed of prostitution and criminal activities and the area slowly became more and more impoverished. By the 1940s, Bowery was New York City’s skid row, home to many Bowery Bums, the name given to the homeless and alcoholic residents of the area.


However, like most neighborhoods in New York City, gentrification eventually came to Bowery, and by the mid to late 2000s, the neighborhood had once again become a fashionable neighborhood. In this regard, the Nolita Place condominiums were ahead of this transformation, as this building was one of the leading developments in Bowery to spur this gentrification. Others have since followed suit and today, the Nolita Place condominiums find themselves in one of the trendiest areas of the Lower East Side of Manhattan.

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Cities and Regions:

Region Buildings Housing Units
New York City, NY 625 103,068
Los Angeles, CA 77 10,247
Vancouver, BC 223 39,498
Chicago, IL 51 14,683


Staff Picks:


740 Park Avenue - Known as one of New York City's premiere apartments buildings, 740 Park Avenue is famous for being the childhood home of Jacqueline Kennedy Onassis.

Ansonia - A former hotel with a long and storied history of famous residents, scandals, and tumultuous times, the Ansonia is known for its distinctive architecture and lavish design detailing.

City Spire - At the time of its construction, City Spire was the world's second tallest concrete building, and today is known for its record setting three floor penthouse with panoramic views of Manhattan.

Apple Bank Building - A landmark building that once housed the Central Savings Bank, the Apple Bank Building is known for its luxury, including a fitness center that is illuminated by a chandelier.

Downtown By Starck - A conversion project by famed architect Philippe Starck, this building has been dubbed the Downtown Insanity Palace due to its numerous over the top luxury amenities.

Rutherford Place - A former maternity hospital, Rutherford Place is now a condominium residence in Gramercy Park, and a classic example of the Beaux Arts architectural style.

Jade- With interior design by Jade Jagger, this building introduced Manhattan-ites to pod style living.


News:

Home mortgage rates and real estate news - CNNMoney.com

Looking for a home in Berlin or Budapest? Prepare to pay more
Europe took 11 of the top 20 spots on a ranking of cities with the largest price increases in the first quarter, according to global property agency Knight Frank.
Is Manhattan's rental market finally cooling off?
Rent prices in Manhattan are slowing down and landlords are offering concessions as inventory on the island grows.
What will your monthly mortgage payment be?
In the market for a new home? Or planning to refinance? Find out what your monthly payment will be.
Housing market remains strong, despite mortgage rate worries
Homebuilder Lennar reported sales and profits that topped forecasts and indicated there is still healthy demand for new homes despite rising mortgage rates.
Why West Coast home prices are surging
The hottest markets are in the West, and it's creating an affordability issue.

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