One57 and the view from the $90 million penthouse
It’s true that One57′s first flip saw a $3.5 million profit in just five months, but that unit sold for $34 million the second time around. A selling price of more than $90 million is a different story–and that’s exactly what hedge fund manager William (Bill) Ackman is hoping to achieve.
In a profile in the Times on Sunday, Ackman was revealed as the buyer of the $90 million penthouse at the luxury building, which is sure to see its share of flips. But he also shared that he has no intention of ever living in the apartment. He’ll stay with his wife and daughters at their current home in the Beresford and use the penthouse as a “fun” investment opportunity for himself and some good friends, perhaps hosting a few parties there in the meantime.
More on the planned flip here
If there’s one thing that all New Yorkers can agree on it’s that Penn Station is pretty awful. And if we’re ever going to get a new home for NJ Transit, Amtrak, and the LIRR, Madison Square Garden will have to move (just don’t tell any die-hard Rangers fans that).
The Alliance for a New Penn Station, a coalition of the Municipal Art Society and the Regional Plan Association, is proposing in a new report (revealed at this morning’s MAS Summit) that the world-famous venue take up residency in the Morgan Post Office and Annex, occupying the block bound by 9th and 10th avenues and 28th and 30th streets. The mail sorting facility site is large enough to accommodate a new state-of-the-art arena and is just a quick walk to Penn Station. The coalition told Capital New York: “Relocating the Garden to this site will provide the city with a new arena and allow for the reconstruction and expansion of Penn Station, each of which can be designed to vastly improve the conditions of the district.”
More on the proposal and renderings of what the new site could look like
Rendering of DoubleTree Hotel via Gene Kaufman (L); The project site at 350 West 40th Street (R)
Fresh renderings have been posted for a new 35-story hotel currently undergoing excavation at 350 West 40th Street. Located just southwest of Times Square and directly across from the Port Authority Bus Terminal, the block-front between Eighth and Ninth Avenues has been the victim of a half-dozen mid-range hotels. With the large blank wall of the bus terminal on one side and an ungainly assortment of budget hotels, walk-ups, and parking lots on the other, the street may be a worthy contender for the “Ugliest Street in Midtown.”
The project was first revealed by YIMBY last spring. Permits call for a 315-foot, 594-room DoubleTree Hotel designed by Gene Kaufman and developed by Sam Chang of McSam Hotels. McSam–which already has several hotels up and running on the block including a Holiday Inn, Candlewood Suites, and Hampton Inn–has been one of the city’s most active and notorious developers in the last decade.
More on the project here
Often overshadowed by the Dakota, its more famous “cousin” further uptown, the Osborne was one of New York’s first major luxury apartment buildings. Located in the heart of Midtown West and completed in 1883, the Osborne’s somber appearance rising up from 205 West 57th Street belies the dazzling lobby within, “a luminous Byzantine dream of gilded tiles.” But the lobby isn’t the only treasure awaiting your entrance. This classically elegant, 12-room corner duplex exemplifies everything one would expect from a residence in such a legendary building. And it’s on the market for $6,950,000.
See what makes this home so impeccably classic
Back in July, we learned that Extell’s Nordstrom Tower will rise 1,775 feet–just one foot shorter than One World Trade Center, making it the tallest residential building in the world. Now, New York YIMBY has released renderings of how the 92-story supertall will look against the rest of the skyline. Though official images from Extell haven’t been released, these preliminary sneak peeks are pretty impressive.
More on the new development here
Artists looking for a place to work and play will love this two-loft combo at 361 West 36th Street. The industrial chic apartment is the ideal live/work setup with 4,800 square feet of space. It’s a full-floor flexible combination of two units and comes complete with a darkroom and more than enough legroom to get your creative juices flowing. And with so many possibilities, this loft is the perfect canvas for a creative person looking to put their personal stamp on a premier pad.
Take a look inside this spacious pad, here
When he hasn’t been busy revamping the New York Knicks, Phil Jackson has been scoping out NYC real estate. And according to city records, the Knicks President purchased an apartment at the Osborne, 205 West 57th Street, for $4.85 million.
Considered one of the greatest NBA coaches in history, Jackson spent many years with both the Chicago Bulls and the Los Angeles Lakers, but now he’s jumping back into the New York City scene head first, having gotten his start with the Knicks in 1967 as a player. His new home was meticulously renovated by Ferguson and Shamamian Architects to preserve the original details of the landmarked 1883 building. Hand-carved mahogany pocket doors, inlaid oak and cherry floors, and stained glass transom windows are just some of the historic accents that make this three-bedroom apartment a true masterpiece.
Tour the rest of this basketball legend’s new digs
Essex House didn’t get off to the most auspicious start, with construction beginning mere days after the Crash of 1929. But it was still chugging along when three years later its now famous six-story red neon sign debuted atop the New York skyline. The rest, as they say, is history. Since then the 43-story Art-Deco skyscraper at 160 Central Park South has become one of Manhattan’s most distinguished landmarks — and home to an impressive list of residents, including Angelina Jolie, Jude Law, and Samuel L. Jackson.
Fortunately, you don’t have to be an A-lister to live there; all you need is about $14,000 a month in rent. This 2BR/2BA rental unit features a private 260-square-foot outdoor terrace directly overlooking Central Park and offering starry views of a non-celebrity kind.
Right this way to see what lies beneath that big red sign
The endless race to the top in the NYC skyscraper world continues with Extell‘s Nordstrom Tower, which will rise 1,479 feet, with a spire that reaches a height of 1,775 feet–just one foot shorter than One World Trade. Assuming it’s financed, the sky-high tower at 225 West 57th Street will be the tallest residential building in the world, surpassing Mumbai’s World One Tower by 29 feet, and will reclaim the “tallest roof” category for Manhattan from Chicago’s Willis Tower, which has a roof height of 1,451 feet.
More on the newest soaring addition to the NYC skyline
It appears that Ian Reisner and Mati Weiderpass of Parkview Developers have sold one of their Southmoor House penthouses. The 17-floor building serves as more than just home to the Out Hotel developers. It’s also headquarters for their company. And like true developers, they own a big chunk of the building, making them one of the co-op’s biggest shareholders. While the newly troubled pair seems quite committed to their own symmetrical pad—turning down a $15.5 million cash offer a few years back without batting an eyelash—that doesn’t stop them from making serious bank on some other units. And you won’t hear us complaining, because that means we get to check out this 3BR/3BA penthouse.
Take a look inside this premier pad here