Search Results for: billionaire's row

Billionaire’s Row tops list of most expensive streets in the world

Looking north towards Billionaires’ Row in early October © 6sqft 

December 17, 2019

Billionaire’s Row tops list of most expensive streets in the world

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A new study of the top "ultra-prime" locations in the world dispels any doubt that Billionaire's Row is living up to its name. London-based property consultancy Knight Frank, along with Douglas Elliman, looked at the number of homes sold for over $25 million since 2015 and found the greatest concentration along Midtown's 57th Street, where 41 transactions have been closed in the last five years at an average price of $38.5 million. Manhattan cracked the top ten three more times, with Central Park South coming in third, followed by Park Avenue and Fifth Avenue in fourth and seventh place.
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Tenant holdout snarls developer’s plan to build Billionaire’s Row tower

Image via Google Street View

July 5, 2017

Tenant holdout snarls developer’s plan to build Billionaire’s Row tower

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Image via Google Street View With a legendary tenants' rights lawyer on board, a longtime leaseholder is standing fast against a developer's 'dream tower' plans, claiming their business has a valid lease and is being wrongfully evicted, according to the New York Times. Irving and Samuel Morano, the antiques dealers who own Metropolitan Fine Arts and Antiques, are the largest remaining tenant at 10 West 57th Street, a prime location opposite Bergdorf Goodman. 89-year-old developer Sheldon Solow has been amassing properties along the "Billionaire's Row" strip, where the Solow Building, his office tower at 9 West 57th Street stands, since 1977. With grand plans in place to erect a sleek Skidmore Owings & Merrill-designed 54-story hotel and condominium tower, Solow has evicted tenants, erected scaffolding and started demolition on one of the properties along the strip.
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More luxury condos may head to Billionaire’s Row as office tenants are vacated across from One57
September 27, 2016

More luxury condos may head to Billionaire’s Row as office tenants are vacated across from One57

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Recent reports that the luxury housing market is slowing down may soon be dismissing Billionaires' Row, where several sites are in question to add to the strip's uber-high end array of residential offerings. The latest is at 140 West 57th Street, the Feil Organization's office tower right across from One57. The Post tells us that leases are not being renewed for tenants in the 14-story, landmarked building, where the developer "is said to have already drawn up floor plans for apartments."
The full story ahead
How You Can Live in a Billionaire’s Row Condo for Free AND Make Six Figures
July 22, 2015

How You Can Live in a Billionaire’s Row Condo for Free AND Make Six Figures

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Get a job as one of their building managers. As DNA Info reports, if you're just a regular Joe or Jane looking to take up residence in one of the city's priciest towers, you don't need to be a billionaire—or even a millionaire for that matter. The resident managers at four headline-stealing, ultra-luxury towers will live rent-free, in very large apartments, while also earning respectable six-figure salaries for their services.
Find out more here
REVEALED: Asking Prices, Floorplans for 520 Park Avenue, the Next Billionaire’s Row Blockbuster
March 5, 2015

REVEALED: Asking Prices, Floorplans for 520 Park Avenue, the Next Billionaire’s Row Blockbuster

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Developers of 520 Park Avenue have revealed apartment prices for all units in the building, which is poised to become one of the city’s most expensive condominium towers and include a $130 million penthouse. The building, which will rise in the high-priced corridor flanking Central Park that has been dubbed “Billionaire’s Row,” is expected to gross $1.2 billion in apartment sales, according to initial offering prices detailed in documents filed with the Attorney General’s office. The $1.2 billion in total sales—which will make the building one of the most expensive in Manhattan history—is all the more impressive considering that current plans call for only 31 units, most of which will be full-floor residences.
Click here for full pricing information and floor plans
You can live on Billionaires’ Row for just $325K
December 14, 2018

You can live on Billionaires’ Row for just $325K

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It seems as if almost every day we hear of a new big-ticket sale on Manhattan's "Billionaire's Row," the glittering corridor just south of Central Park in Midtown. Eight-figure sales at a growing collection of supertalls like One57, 432 Park Avenue and 111 West 57th Street seem almost ordinary. But it's still possible to snag a home among the oligarchs and moguls: Two units on the market at the classic co-op building at 100 West 57th Street can be yours for $325K (for a studio) and $450K (for a spacious one-bedroom). If you're looking for more than a pied-a-terre, you could even combine both contiguous units and still come in under a mil.
Take a look at your options
Crown Building penthouse may be in contract for $180M, beating NYC record by $80M

Penthouse rendering courtesy of Aman Resorts

March 16, 2018

Crown Building penthouse may be in contract for $180M, beating NYC record by $80M

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Another Billionaire's Row sky mansion–this one with a piano lounge, two kitchens, a wraparound terrace, and two swimming pools spread out over five stories at 730 Fifth Avenue–is on its way to record-smashing glory, according to The Real Deal. Sources say an unknown buyer has spoken for the 12,536-square-foot residence in the actual crown of the Crown Building, to the tune of $180 million. If the sale closes, it will be the New York City's most expensive sale ever at $14,358 per foot (also a record), surpassing Michael Dell's $100.5 million penthouse atop Extell Development’s One57.
Check this place out
The Most Important Towers Shaping Central Park’s South Corridor, AKA Billionaires’ Row

Carter Uncut brings New York City’s development news under the critical eye of resident architecture critic Carter B. Horsley. This week Carter kicks off a nine-part series, “Skyline Wars,” which will examine the explosive and unprecedented supertall phenomenon that is transforming the city’s silhouette. To start, Carter zooms in on the biggest developments shaping the southern corridor of Central Park.

November 25, 2015

The Most Important Towers Shaping Central Park’s South Corridor, AKA Billionaires’ Row

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They did not come from outer space when they landed on our front yard while the NIMBY folk and the city’s planners and preservationists weren’t looking. Some are scrawny. Some are dressed like respectable oldsters. They’re the supertalls and they’re coming to a site near you.
read more here
Bidding Wars and Over-Ask Sales on the Rise in Brownstone Brooklyn Neighborhoods
July 30, 2015

Bidding Wars and Over-Ask Sales on the Rise in Brownstone Brooklyn Neighborhoods

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Homes in brownstone Brooklyn neighborhoods have been selling over the asking price and bidding wars are becoming even more commonplace, according to DNAinfo. In the second quarter of 2015, for example, homes in Prospect Heights and Park Slope were selling for 4 percent over their asking price–the highest percentage seen in Brooklyn or Manhattan.
Find out where to expect bidding wars
$5M penthouse is a Manhattan classic with 360-degree views and wraparound terraces

Photo Credit: Warburg Realty

December 6, 2021

$5M penthouse is a Manhattan classic with 360-degree views and wraparound terraces

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This 5,000-square-foot penthouse at 303 East 57th Street in the Excelsior co-op tower is the sort of apartment you see in your favorite 20th-century New York City films. Asking $4,995,000, the duplex is wrapped by 2,500 square feet of terrace and offers 360-degree views from four exposures including Central Park and the East River.
Take the grand tour
VOTE for 6sqft’s 2020 Building of the Year!
December 2, 2020

VOTE for 6sqft’s 2020 Building of the Year!

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It goes without saying that 2020 has been an unpredictable, challenging year. This March, COVID-19 brought New York City to a standstill, from the city's bustling street life to the plethora of construction projects that defined the prior year. The pandemic quickly changed the way we live and build, but ultimately didn't stop New Yorkers from doing either. The city is still a place with bold new construction projects, glittering towers and mega-developments, unique and creative amenities -- especially to respond to a year sticking close to home. 2020 brought the introduction of a new public park inside an Upper West Side mega-development, multi-million dollar condo sales along Billionaire's Row, the restoration of a classic NYC landmark, and impressive new architecture that promises to shape our ever-changing skyline. Our picks are down to 12 of the most notable residential structures this year. The only question is: Which do you think deserves 6sqft’s title of 2020 Building of the Year? To have your say, polls for our sixth annual competition will be open up until midnight on Sunday, December 13 and we will announce the winner on Monday, December 14.
Cast your vote!
See inside an apartment at the world’s tallest residential building

Photo by Evan Joseph

July 24, 2020

See inside an apartment at the world’s tallest residential building

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It's been nearly two years since sales launched at Extell's Central Park Tower and one year since the 1,500-foot condominium topped out along Central Park South, making it the tallest residential building on the globe. And now, we've got our first look inside one of the enviable apartments at this Billionaires' Row building. The model residence is a 3,401-square-foot, three-bedroom corner unit on the 43rd floor, priced at $17,500,000. Not surprisingly, the interiors are decked out to the nines, but, of course, it's the insane views we can't stop ogling.
Take the full tour
Ultra-high-end sales defined the 2019 real estate market

Looking north towards Billionaires’ Row in early October © 6sqft

December 27, 2019

Ultra-high-end sales defined the 2019 real estate market

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Throughout the year, there was much speculation that the real estate market was on a decline, but according to CityRealty's annual Manhattan Year-End Report, ultra-high-end sales continue to keep the market strong. On par with 2018's 228 sales, this year saw 221 sales at $10 million or more, totaling $4.6 billion, up from last year's $4.2 billion. As CityRealty tells us, this is "largely due to big-ticket purchases near the southern end of Central Park, most notably at 220 Central Park South," which accounts for one-third of that total, as well as a glut of new development condos coming online.
More details ahead
NYC’s third $100M+ real estate deal closes at 220 Central Park South

Image courtesy of Vornado Realty Trust and Robert A.M. Stern Architects

December 13, 2019

NYC’s third $100M+ real estate deal closes at 220 Central Park South

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A penthouse at 220 Central Park South has sold for $100 million to an undisclosed buyer, the Wall Street Journal reports. The Billionaire's Row transaction is only the third nine-figure deal to close in New York City, following hedge-fund executive Ken Griffin’s whopping $240 million purchase in the same building earlier this year (the most expensive home ever sold in the U.S.) and tech mogul Michael Dell’s $100.47 million penthouse at nearby One57, which closed in 2014.
More info
Sales still in a slump at post-2016 Trump Tower

Photo by Krystal T via Flickr

November 4, 2019

Sales still in a slump at post-2016 Trump Tower

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Living under the shadow of having President Trump as an occasional neighbor–and as a sign on the front of your building–doesn't do much for condo property values in midtown Manhattan, if commercial leasing and residential sales at Trump Tower are any indication. CityRealty reports that vacancies persist in the commercial podium of 721 Fifth Avenue, and residential condo sales in the mixed-use tower have yet to recover from recent stagnation: Almost one half of the units up for sale have cut their initial asking prices, and all but two of the 11 condos whose sales closed this year have sold at an often-considerable–more than 10 percent–discount.
More on the Trump slump
VOTE for 6sqft’s 2018 Building of the Year
December 5, 2018

VOTE for 6sqft’s 2018 Building of the Year

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The city’s most important residential projects include a glittering showcase of superlatives that continue to eclipse all that came before, with claims that include tallest (Central Park Tower), skinniest (111 West 57th Street ), most expensive (a $250 million penthouse at 220 Central Park South) and loftiest outdoor lounge (Fifteen Hudson Yards) and pool (Brooklyn Point) almost being a requirement for selling the fabulously luxurious apartments and amenities that lie within. Though some of this year’s contenders appeared on previous years’ lists, their sales launches and toppings-out in 2018 proved that their arrivals on the city's skyline–and among its residential options–are no less impactful than the anticipation that preceded them. We’ve narrowed our picks down to a list of 12 headline-stealing residential structures for the year. Which do you think deserves 6sqft’s title of 2018 Building of the Year? To have your say, polls for our fourth annual competition will be open up until midnight on Wednesday, December 12th and we will announce the winner on the 13th.
VOTE HERE! And learn more about the choices.
85th floor unit at One57 gets an $11M price chop, now listed at $59M
March 2, 2018

85th floor unit at One57 gets an $11M price chop, now listed at $59M

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6sqft reported back in October that an 85th-floor unit in the building known for the city’s most expensive residential sale ever was back on the market after a total overhaul for a noteworthy $70 million. The 6,240-square-foot condominium was purchased by Canadian billionaire Lawrence Stroll for $55.6 million in 2014. After four months, the sprawling sky mansion has been discounted by $11 million according to Mansion Global; the building's third-highest listing is now asking $59 million.
The view is just as good at $59 million
Last day to vote for 6sqft’s 2017 Building of the Year!
December 11, 2017

Last day to vote for 6sqft’s 2017 Building of the Year!

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This year was all about new development redefining the New York City skyline. Construction moved along at a rapid pace, whether it be the topping out of Richard Meier's tower at 685 First Avenue or foundational work kicking off at Brooklyn's first supertall 9 Dekalb. In the next several years we'll see these buildings open and show off apartments at sky-high prices, but for now, we get to enjoy the construction process on some of the most notable new architecture to come to New York. We’ve narrowed down a list of 12 news-making residential structures for the year. Which do you think deserves 6sqft’s title of 2017 Building of the Year? To have your say, polls for our third annual competition will be open up until midnight on Monday, December 11th and we will announce the winner on Tuesday, December 12th.
VOTE HERE! And learn more about the choices.
Foreclosures and flopped flips pile up at One57, sending grim message to big ticket investors

Image © Wade Zimmerman courtesy of Agence Christian de Portzamparc (ACDP)

November 16, 2017

Foreclosures and flopped flips pile up at One57, sending grim message to big ticket investors

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A full-floor, 6,240-square-foot penthouse at Midtown billionaires' bunker One57 recently sold to an unidentified high bidder–one of five contenders–at a foreclosure auction for $36 million. That number is 29 percent lower than the original $50.9 million price shelled out by Nigerian businessman Kolawole Akanni Aluko for the newly-minted condo in 2014. The fire sale was the fourth resale in the 1,004-foot-tall Billionaire's Row flagship trophy tower to trade at a loss, according to data from appraiser Miller Samuel Inc., reports Bloomberg. The latest example is the largest discount to date on one of the pricey properties, all of which sends a message to buyers with plans to cash in on the ultra-luxury units in short order. And there are currently 16 apartments at the building listed for sale, most of them by the developer.
Read on
One57’s 85th-floor unit comes back on the market for $70M after a full reno
October 3, 2017

One57’s 85th-floor unit comes back on the market for $70M after a full reno

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In the building known for the city's most expensive residential sale ever (a dizzying duplex on the 89th and 90th floors of the iconic skyscraper at 157 West 57th Street whose $100 million sale closed in 2014), big-ticket buys hardly turn heads. But that same year, the headline-grabbing supertall saw its third most expensive unit change hands when Canadian investor and Ferrari collector Lawrence Stroll dropped $55.6 million on a 6,240-square-foot 85th-floor home in the building's tower. Now he's put the full-floor pad back on the market for an even more noteworthy $70 million. According to the listing, the apartment had a complete renovation even in its short lifetime–and clearly, Stroll, worth an estimated $2.4 billion spared no expense, including woven suede walls, a sculptural wall by artist Peter Lane, and a double-sided marble fireplace.
Get a look at this big bank account in the sky this way
Bought in the ’70s for $170K, showbiz couple’s massive Upper West Side townhouse asks $20M
September 22, 2017

Bought in the ’70s for $170K, showbiz couple’s massive Upper West Side townhouse asks $20M

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Built in 1897 in the Elizabethan Renaissance Revival style by renowned architect Clarence True, this brick and limestone mansion occupies a 43-foot-wide lot, not in Forest Hills or Riverdale, but at 323 West 80th Street on the Upper West Side. The New York Post writes that the owners, a Broadway producer who ran the downtown rock club the Bitter End and his wife, Donna, a casting director who happens to be the sister of Bernadette Peters, bought the house–then a rundown SRO–for $170,000 in the 1970s. Even then, they could see the potential in this grand, gothy 10,000-square-foot palace, at the time carved up into 20 rooms. A few years have passed, but we can't help but wonder if they imagined they'd list the spruced-up house, complete with garage, elevator and enchanted garden, for almost $20 million.
Check out the details of this amazing property
Explore 1980s NYC street by street with this interactive map

The East Village in the 1980s

September 15, 2017

Explore 1980s NYC street by street with this interactive map

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From Broadway to Bowery, 1980s New York City was a very different place compared to today's manicured metropolis. Courtesy of Maps Mania, the 80s.NYC street map picks up where the Finance Department of New York City left off. In the mid ‘80s the bureau photographed every single building in the five boroughs in order to accurately assess building taxes and estimate property taxes. Brandon Liu and Jeremy Lechtzin have finessed this trove of photographic information into a nifty map that allows users to travel the city's streets in the bad old 1980s with a map-based street view for an easy-to-browse glimpse of the streetscape 30 years ago. You can browse by location by clicking anywhere on the map for vintage street views on that spot, or type in an address. For more context there are curated “stories” that provide historical background where it’s available (and interesting).
Check out the map
Kushner Cos. vision for 666 Fifth Avenue has Zaha Hadid design and $12B ambitions

A rendering of 666 Fifth Avenue. Credit: Kushner Companies/Zaha Hadid Architects

March 22, 2017

Kushner Cos. vision for 666 Fifth Avenue has Zaha Hadid design and $12B ambitions

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As 6sqft previously reported, 666 Fifth Avenue owners Kushner Companies and Vornado Realty Trust have been seeking financing for a new skyscraper planned for the site of the Midtown office tower that Kushner purchased for $1.8 billion in 2007; Chinese company Anbang Insurance Group is said to have been considering a substantial stake in the tower. Though it was reported that the redevelopment could be valued at $7.5 billion, the Wall Street Journal now cites sources who say the value could be as much as $12 billion, and that a reported deal with Anbang may be far from a sure thing. That huge number represents the projected value of what Kushner envisions as a 1,400-foot-tall mixed-use luxury tower with a design provided by the late Zaha Hadid in 2015, nine floors of retail, a hotel and big-ticket luxury condos on its upper floors.
Find out more about the possibly maybe very big deal
Interactive map reveals the shadows cast by every New York City building
December 21, 2016

Interactive map reveals the shadows cast by every New York City building

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The Times calls the phenomenon a "struggle for light and air." And indeed, while New York City architecture is lauded for both its design and innovation, the decades-long race to build bigger and taller has taken a toll on the cityscape, particularly in the form of shadows. While any recent criticism of the effect has been directed towards the towers rising along Billionaire's Row, as The Upshot's map reveals, New Yorkers on the whole spend a lot of their time cutting through long stretches of shadow. The map documents thousands of buildings across the five boroughs, denoting age, height and the resulting shadows cast at ground level over the course of one day, down to the minute, during all seasons. As seen above, tall-tower haven Central Park South is cloaked in darkness 24/7 during the fall, winter, spring and summer months—but then again, if you peruse the map, you'll see a lot of other blocks are too.
find out more
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