After months of being on the market, the Manhattan pad of President Donald Trump’s daughter and advisor Ivanka Trump just won’t rent, despite three substantial price chops. The first daughter first purchased the two-bedroom, two bathroom condo at 502 Park Avenue in 2004 for $1.5 million. Upon her father’s election, Ivanka listed the apartment at Trump Park Avenue in November for $15,000 per month. In February, the price dropped to $13,000 per month. On Tuesday, the asking price was $10,450 per month, a 30 percent price cut since the presidential election, according to Bloomberg.
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New anchor Jane Pauley and “Doonesbury” cartoonist Garry Trudeau have dropped $2.2 million on a very un-newsworthy co-op at 166 East 61st Street in Lenox Hill. The couple’s last real estate transaction was in 2005 when they traded a $13 million Central Park West pad for a much more modest $1.6 million co-op at 7 Beekman Place in Turtle Bay. Their newest buy, while rather bland, is about 20 blocks north and closer to the park and offers three bedrooms, three baths, and skyline views.
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Despite winning the presidential election last fall, Donald Trump’s New York City properties have hit a losing streak. Trump-branded hotels and condos throughout the city have seen a sharp decline in event bookings and property values. And at the 55-story Trump Palace at 200 East 69th Street, one of the tallest towers in the neighborhood, the average unit sits on the market for 107 days, 35 percent longer than the average luxury unit. To combat declining property values, an apartment owner at Trump Palace has written a letter asking neighbors to come together and remove the name “Trump” from the building, as the Hollywood Reporter discovered.
Award-winning actor Robert Redford’s former Lenox Hill pied-a-terre has hit the market for $1.35 million, reports the Post. The one-bedroom duplex co-op is located in a limestone mansion at 47 East 67th Street, between Madison and Park Avenues. Redford owned the newly renovated pad in the 1980s, and it now boasts plenty of space with a chef’s kitchen, double-height ceilings with massive windows, and a woodburning fireplace.
As 6sqft asked when the 39th floor at The Pierre Hotel at 795 Fifth Avenue hit the rental market two years ago, if you’ve got the cash, why buy when you can rent for $6 million a year? Now that opportunity to refresh your enormous outlay every month is again seeking a renter at $500,000/month, keeping its title as the city’s most expensive rental. The massive 4,786-square-foot space has merely a butler’s kitchen, but the assumption is, of course, that you wouldn’t want to be slaving over a hot stove in a full-service hotel anyway. And that service includes twice-daily maid service, an on-call physician, room service, two restaurants and a chauffeur-driven Jaguar.
Ivanka Trump’s Park Avenue starter pad, still without a buyer, gets a rental price chop to $13K a month, Fri, February 24, 2017
As 6sqft previously reported, Ms. Trump and husband Jared Kushner, now senior adviser to President Donald Trump, first listed their apartment at 502 Park Avenue for $4.1 million in December; Ivanka purchased the home for $1.52 million in 2004. The classic and somewhat girly Park Avenue pad with Tiffany-box blue walls has also been on the rental market, first at $15K and, as Mansion Global reports, just reduced to $13,000 a month. Ivanka also owns one of the building’s penthouses–it’s the Trump/Kushner family’s main home when they’re in town– that she bought for $16 million nearly six years ago.
Lenox Hill will see the addition of a new 510-foot tower at 249 East 62nd Street, designed by none other than 432 Park starchitect Rafael Viñoly. CityRealty reports that plans for the mixed-use skyscraper were filed in the last days of December by Chance Gordy of Florida-based Real Estate Inverlad, who is also developing another condo tower nearby called The Clare. The Viñoly design will join a slew of new Upper East Side constructions prompted by the opening of the Second Avenue Subway line, which is located just a few minutes walk away.
It looks like America’s next first daughter—and quasi-first lady—is looking to slim down her real estate holdings. As Luxury Listings NYC first reports, Ivanka Trump has just listed her apartment at 502 Park Avenue for $4.1 million. The somewhat bland spread hosts two bedrooms and two baths and is outfitted in a palette of cream and powdery blue hues. Although one might think the sale has something to do with her father‘s recent presidential victory—as not even two weeks ago, CNN reported that she and husband Jared Kusher were house hunting in Washington D.C.—Ivanka, in fact, also owns one the building’s penthouses, which she bought for $16 million nearly six years ago. It’s also been no secret that the Trump/Kushner brood has been mulling a move into the Puck Penthouses, one of Jared’s beautiful ultra-luxe developments.
At the northeast corner of York Avenue and East 74th Street, a glass and metal pile of floors is nearing completion. Developed by Golden Asset LLC and designed by Stephen B. Jacobs Group, the thin-skinned tower soars 20 stories above its characterful block of brick and fire-escape adorned context. Named Rose Modern, the building anchors a corner site at 501 East 74th Street and will be near the 72nd Street station of the Second Avenue Subway, anticipated to open later this year.
Back in 2012, Chilean interior designer Juan Pablo Molyneux placed his sprawling townhouse at 29 East 69th Street up for sale for a newsmaking $48 million. Unable to find an immediate buyer (or possibly anticipating seller’s remorse), he took it off the market shortly after. But then earlier this year in January, he brought it back for a much lower $34 million. Now, it looks like Molyneux’s day has come, and according to city records, he’s finally parted ways with the gigantic spread—although for a relatively paltry $22.5 million.