Harvest in the Square Coming Up

THIS LINK leads to the official new construction newsletter.

The retail retreat continues, with the departure of American Eagle from Union Square West.

Comparing 3rd quarter 2007 to 3rd quarter 2008, real estate prices around here have actually done pretty well, according to the Times.

Neighborhoods that experienced price drops include the Lower East Side and the East Village, where median prices fell 5.5 percent; and Carnegie Hill, where co-op prices decreased 7.2 percent. Median prices in Hamilton Heights and Morningside Heights dropped 30 percent, with sales decreasing to only 19 from 67 in 2007. In Washington Heights, median prices went down 6.3 percent, but the number of sales increased to 24 from 18 in 2007.

The neighborhoods that fared the best through the third quarter included Fifth Avenue and Park Avenue from 59th to 96th Streets, where median prices went up 35 percent. In Lincoln Square, an area between 57th and 72nd Streets from Central Park West to the Hudson River that is home to high-priced apartments in 15 Central Park West and the Time Warner Center, median co-op prices went up 18.6 percent and median condo prices went up 25 percent. Prices also rose in Lenox Hill, where median co-op prices went up 19 percent; and Chelsea, where median co-op and condo prices went up about 6 percent.

Other neighborhoods that experienced increases include Greenwich Village, where median prices for co-ops went up 3.9 percent; Union Square and the Gramercy area, where co-op prices went up 3.3 percent and condo prices went up 2.6 percent; and the Upper East Side, where median co-op prices went up 2.3 percent and condo prices went up 9.1 percent.

With rooms starting at $529 (rack rate), you probably can’t afford to stay at the new Hyatt Union Square when it opens, but perhaps you can check out one of its restaurants or bars:

THE FOURTH: The Fourth, an all-day American Brasserie serving breakfast, lunch, dinner and weekend brunch provides straightforward high-quality items with surprising accents. A chic European style espresso bar, located at its entrance, will offer a comfortable casual place to enjoy our signature coffee – Café Quatrième – pastries and nibbles. Soaring ceilings and wide open-air French doors allow streams of light to fill the room.

SINGL LOUNGE: A full service bar and lounge featuring an extensive single malt scotch selection and single vineyard wine by the glass selection. An exciting place to gather during the day and evening.

KITCHEN AND WINE GALLERY: A vibrant venue for your next gathering. This versatile space features an open kitchen and hearth connecting you and your guests to our team of chefs. This venue features a New York approach to South American Dining combining progressive Latin sounds with warm succulent scents. Glowing wine displays and decanting stations will enhance the beverage aspect of your experience. Cutting edge art throughout the space reflects the art scene of Greenwich Village and Union Square.

Our new neighbor Ann Roth tells us about this incredible image of the 14th St. building that she dug up:

“I found the image on the web, where someone was selling a hand-colored print of the 14th Street facade, from a magazine that dates to 1891. So it clearly dates to that year (or earlier), not 1899, as all the real estate ads say. I ordered it, and they immediately took it off their site, so I can’t send you the link, but I copied the image first, so I’ve attached it. I must say, I wish it still had the fancy spire. The architects were D’Oench & Simon. Albert D’Oench studied in New York and Stuttgart, and then worked for Robert Morris Hunt (who designed the Metropolitan Museum’s facade) for a while. He was the NY Inspector of Buildings for five years, which seems to have mainly involved fire safety. After that, he had a successful architectural partnership with Albert (or Bernard?) Simon, and they designed and built several fire stations in New York. D’Oench later married the mayor’s daughter. Clearly a man with good connections. The plan calls it a “store building,” built it for Mrs. Mary S. Van Beuren, who was the granddaughter and heir of Henry Spingler (who I think has a building on Union Square named after him). She lived nearby, on 14th Street, just west of 5th, and seems to have been a bit of a sharp customer, to judge from some of the legal tussles I found when I searched her name on Google.”

The crepe place is moving to West 8th Street as Bowlmor Lanes continues to prep for demolition.