Zeckendorf Development

January 4, 2019

$130M penthouse at 520 Park Avenue is now two separate units

The quest to outdo One57's record-setting $100.5 million penthouse doesn't seem to be working. The two contenders, 220 Central Park South and 520 Park Avenue--both Robert A.M. Stern-designed buildings--announced their $250 and $130 million penthouses in 2016 and 2014 respectively, but there's been no movement since. The latter building seems to have taken the hint, though, as The Real Deal reports that the 12,398-square-foot triplex has been chopped up into two "smaller" units--a $40 million full-floor unit and an $80-$100 million duplex.
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February 12, 2016

Buyout Legends: Developers Paid 15 CPW Hermit Holdout $17M to Move Into a Free Apartment

By Michelle Cohen

What do you do when you're a developer who has a 52,000-square-foot property with one tenant...who won't leave? While we've all heard legends about holdouts in rent-controlled apartments getting big buyouts from deep-pocketed developers, none to date could beat the good fortune of Herbert J. Sukenik. The reclusive septuagenarian lived in his 350-square-foot apartment (which happened to have four exposures and Central Park and two river views) at the Mayflower Hotel for three decades. But he ended up walking away with $17 million, the most money ever paid to a tenant to leave a New York apartment, and walked into an almost-free, 2,200-square-foot, 16th-floor home in the venerable Essex House on Central Park South.
So what happened?

History

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

By Carter B. Horsley

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.
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Zeckendorf Development

$130M penthouse at 520 Park Avenue is now two separate units

Buyout Legends: Developers Paid 15 CPW Hermit Holdout $17M to Move Into a Free Apartment

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

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