Search Results for: 220 central park

New development sales in Manhattan expected to hit $12B by 2020

New development visualized through 2020, via CityRealty

November 14, 2017

New development sales in Manhattan expected to hit $12B by 2020

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According to CityRealty's 2017 Manhattan New Development Report, things are really going to heat up over the next few years. While new development sales dropped to $8.3 billion in 2017 from $9.4 billion in 2016 (attributed to a softening in the luxury market), there are a number of new big-time buildings that will commence closings and have the potential to drive total sales up to a whopping $11.9 billion by 2020. One key player is Extell Development’s One Manhattan Square on the Lower East Side. With 815 apartments, it will be the largest condo by unit count ever constructed in the city. And up on Billionaires' Row, Extell's Central Park Tower will have the city's biggest sell-out ever at $4 billion, while Vornado's 220 Central Park South is looking to set the record for highest price per square foot ever in NYC.
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Crown Building’s five-story penthouse is the latest to join Midtown’s $100M+ club

Penthouse rendering (Aman Resorts)

October 27, 2017

Crown Building’s five-story penthouse is the latest to join Midtown’s $100M+ club

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Taking its name from an elaborate pyramid-shaped crown, the Crown Building at Fifth Avenue and 57th Street has been described as one of the city's most desirable retail locations. Michael Shvo and Russian developer Vladislav Doronin bought the non-retail upper floors of 730 Fifth Avenue in 2015 and filed plans to redevelop the Billionaires' Row property, and new details have been revealed, CityRealty reports. An 83-key luxury hotel with a three-story spa, a members-only lounge, a jazz club and cigar bar and two restaurants will start on the fourth floor. Above the hotel, 20 luxury condominiums known as Aman New York Residences will start on the 11th floor. The building's crown jewel will be a 14,000 square-foot five-story penthouse on floors 22-26 asking $100 million.
See more, this way
Despite legal troubles, the first units at 111 West 57th Street go into contract

Rendering of 111 West 57th Street via Property Markets Group

August 3, 2017

Despite legal troubles, the first units at 111 West 57th Street go into contract

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Just last week, 6sqft covered the financial and legal woes of Property Markets Group and JDS Development’s super tall and slender tower at 111 West 57th Street. Despite reports that construction had stalled over budget overruns and a potential foreclosure, the first condominiums, at what is lined up to be the world’s future tallest residential skyscraper, just went into contract (h/t The Real Deal). While Apollo Commercial Real Estate Finance, which issued a $325 million mezzanine loan for the project, did not share exactly how many units out of 60 are under contract, CEO Stuart Rothstein told TRD, they sold at “prices well over (Apollo’s) basis.”
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Robert A.M. Stern will lead the transformation of the historic Belnord into condos
April 5, 2017

Robert A.M. Stern will lead the transformation of the historic Belnord into condos

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The conversion of the historic Belnord into luxury condominiums is moving forward, with the property expected to be brought to market as early as the third quarter of the year. This morning, HFZ Capital announced they have tapped starchitect Robert A.M. Stern to helm the transformation, which would turn approximately 95 rental apartments in the full-block, 1908 building at 225 West 86th Street into fully converted and reimagined apartments. In all, the limestone-and-brick structure currently maintains 213 rental units.
more details here
6SQFT’S TOP STORIES OF 2016!
December 29, 2016

6SQFT’S TOP STORIES OF 2016!

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As we wrap up 2016, 6sqft is taking a look back at the top stories of the past 12 months in topics like apartment tours, celebrity real estate, new developments, transportation proposals, and history. From a look inside a Williamsburg loft filled with more than 500 plants to news of Brooklyn's first 1,000+ foot tower receiving approvals, these are the stories that readers couldn't get enough of.
See the full list here
Announcing 6sqft’s 2016 Building of the Year!
December 14, 2016

Announcing 6sqft’s 2016 Building of the Year!

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You came, you voted, and now it's time to award the title of 2016 Building of the Year to none other than 520 West 28th Street! The undulating beauty along the High Line beat out 11 other game-changing buildings in a fierce two-week competition held right here on 6sqft. Out of nearly 25,000 votes cast, the Zaha Hadid-designed, Related Companies-developed structure emerged as the winner, taking away 8,382 of the count, or 33.62% of the total.
more details on the runners-up
VOTE for 6sqft’s 2016 Building of the Year!
December 10, 2016

VOTE for 6sqft’s 2016 Building of the Year!

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For new developments, 2015 was the year of reveals, but 2016 was all about watching these buildings reshape our city. Ahead we've narrowed a list of 12 news-making residential structures, each noted for their distinctive design, blockbuster prices, or their game-changing potential on the skyline or NYC neighborhoods. Which of these you think deserves 6sqft's title of 2016 Building of the Year? Have your say below. Polls for our third annual competition will be open up until 11:59 p.m., Sunday, December 11th*, and we will announce the winner on Tuesday, December 13th!
Learn more about each of the buildings in the running here
November’s 10 most-read stories and this week’s features
December 3, 2016

November’s 10 most-read stories and this week’s features

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November’s 10 Most-Read Stories Live in SHoP’s Domino Sugar Refinery tower for $596/month, lottery open for 104 units My 4000sqft: Tour the 113-year-old Ditmas Park home of an architectural preservationist Apply for 195 affordable units in Long Island City’s glitzy new rental tower The Hayden, from $913/month Lottery opens for two affordable units in prime […]

After getting caught for scaling One WTC in 2014, noted daredevil climber is back at it
November 29, 2016

After getting caught for scaling One WTC in 2014, noted daredevil climber is back at it

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It was major news a couple years ago when then-16-year-old Justin Casquejo snuck past security at the not yet opened One World Trade Center and posted a picture of himself after climbing to the top of the tower. Though he got caught and convicted, Casquejo seems unphazed by these legal troubles. The Post uncovered dozens of photos and videos he posted recently to Instagram and YouTube that show him and his friends "dangling from Manhattan skyscrapers," including the Time Warner Center, 220 Central Park South (where another urban explorer recently made waves), and Coney Island's Parachute Jump.
What does the NYPD have to say?
Weekly highlights: Top picks from the 6sqft staff
November 5, 2016

Weekly highlights: Top picks from the 6sqft staff

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Lottery opens for two affordable units in prime Greenpoint, starting at $904/Month Daredevil climber scales Robert A.M. Stern’s 220 Central Park South to capture these insane shots This $7.5M West Village townhouse was once home to Derek Jeter and A-Rod Apply for 63 newly-built affordable units off the Rockaway Beach waterfront, from $494 MAP: What […]

Saudi billionaire seals the deal on the city’s highest home for record $88M
September 16, 2016

Saudi billionaire seals the deal on the city’s highest home for record $88M

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The most expensive apartment closing in New York City this year and one of the priciest sales ever is finally a done deal, reports The Real Deal. The apartment, the top penthouse at Rafael Viñoly-designed billionaire’s bunker 432 Park Avenue, is the priciest unit in the big-ticket building as well as being literally the city’s highest. As 6sqft previously reported, the buyer is Saudi retail magnate Fawaz Al Hokair. The sale price was $87.7 million—a skyscraping $10,623 per square foot.
More jumbo numbers, this way
Weekly Highlights: Top Picks From the 6sqft Staff
August 13, 2016

Weekly Highlights: Top Picks From the 6sqft Staff

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79 Affordable Units Up For Grabs in New Luxury Hell’s Kitchen Project, Starting at $913/Month Architecture Workshop’s 400-Square-Foot Studio Has a Secret Bedroom and Sleeps Six Live in SHoP’s American Copper Buildings for $833/Month, Lottery Launching for 160 Affordable Units New Renderings of Bjarke Ingels’ High Line Towers Show Crowns and Amenity Bridges Revealed: Kenneth […]

Why Are the Supertall Gurus at Extell Planning a Stubby 18-Story Condo on Billionaires’ Row?
July 12, 2016

Why Are the Supertall Gurus at Extell Planning a Stubby 18-Story Condo on Billionaires’ Row?

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Gary Barnett's Extell Development has become synonymous with sky-high towers, especially those along Billionaires' Row -- the 1,005-foot-tall One57 and the 1,550-foot-tall Central Park Tower -- where it appeared that they were readying to construct a third behemoth that would rise more than 700 feet. However, Crain's reports that Extell has filed plans for the site at 134 West 58th Street (the same block as One57), and they call for a stubby, 18-story, 41-unit condo building that's less than 200 feet tall.
What's the deal?
Check Out the Manhattan Skyline in 2020! New Development Sales to Hit $8.4B This Year
June 14, 2016

Check Out the Manhattan Skyline in 2020! New Development Sales to Hit $8.4B This Year

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As part of their Manhattan New Development Report, CityRealty has released a trio of skyline renderings that show how the city will appear in 2020 -- looking south from the Lower East Side, north from the tip of the island, and of course, down on Central Park South's Billionaires' Row. The eye-popping images underscore the fact that new developments have been "markedly above the average price of all other Manhattan condos since 2013." The average sales price in new developments is expected to hit $4.4 million this year and $5.7 million by 2018. By comparison, the expected average price of a non-new development condo for 2016 is $2.65 million. Moreover, new development sales totaled $5.4 billion last year, up from 2014's $4.1 billion. This figure is expected to reach $8.4 billion this year and more than $10 billion by 2018.
See all the renderings and find out which buildings are leading the pack
Another Luxury Development May Rise on Billionaires’ Row
June 7, 2016

Another Luxury Development May Rise on Billionaires’ Row

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Crain's reports that another prime piece of property will soon be changing hands, putting 126,000 square feet of development rights in play. The Steinberg family last month made an agreement with commercial developers Thor Equities and General Growth Properties to sell neighborhood fixture Lee's Art Shop's four-story structure at 220 West 57th Street for $85 million, a deal that is expected to close this month. It is not yet clear what the developers plan to do with the landmarked building, but what is known is that the property comes with the right to build atop the historic structure—itself boasting 21,837 square feet on a sizable 8,400-square-foot lot.
find out more here
Interview: Engineer Joseph Gulden Discusses Wooden Skyscrapers Surpassing 1,000 Feet
June 6, 2016

Interview: Engineer Joseph Gulden Discusses Wooden Skyscrapers Surpassing 1,000 Feet

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Could wood one day again be the material of choice for buildings? In response to rising construction costs and climate change, there's been a resurgence of interest in wood construction, with some even saying that we're in the beginnings of a "timber age." Many architects, engineers and builders have started to embrace the material, having erected, or making plans to construct, high-rises that reach several hundred feet in the air. In fact, in April, one architecture firm proposed bringing a 1,000-foot timber tower to London's Barbican. But is wood really a reliable alternative to concrete and steel? What about fire safety? And how tall can we really go at this point in time without compromising a building's structural integrity? To answer these questions and many more, 6sqft decided to pick the brain of DeSimone Project Manager Joseph Gulden. DeSimone is one of the world's leading engineering firms with a roster of top NYC projects that include Zaha Hadid's High Line project, 220 Central Park South and 45 East 22nd Street; Joseph himself is a licensed Professional Engineer (PE) as well as a licensed Structural Engineer (SE) with extensive experience constructing in regions with high seismic risk. He's also worked on numerous high-rises and tall wood structures both in the U.S. and abroad. Ahead Joseph discusses some of the challenges and advantages of building with wood, engineered timber, deforestation concerns, and if a wooden supertall will ever be in reach.
read the interview here
Infographic: How NYC’s Supertalls Compare in Height and Girth to Global Towers

Gray silhouettes from left to right: Shanghai World Financial Center, CTF Finance Centre, One WTC, Lotte World Tower, Mecca Royal Clock Tower, Shanghai Tower, Burj Khalifa. Click link here to enlarge >>

May 20, 2016

Infographic: How NYC’s Supertalls Compare in Height and Girth to Global Towers

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As the Skyscraper Museum so aptly writes, "Tall and BIG are not the same thing." Echoing 6sqft's recent post on global supertalls, the infographic above illustrates how when the height of New York's tallest towers are stacked up against the sky-high constructions abroad (and 1 WTC), our city's skyscrapers truly are "runts on the world's stage." The image also reveals that not only do these towers lack significantly in height, but also in girth. This means what really makes the design of all of New York's new skyscrapers so unique is not how tall they are, but rather, how slender they are.
more on all that here
Not Tall Enough! On the World’s Stage, New York’s Supertalls Are Ungraceful Runts
May 16, 2016

Not Tall Enough! On the World’s Stage, New York’s Supertalls Are Ungraceful Runts

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Carter Uncut brings New York City’s latest development news under the critical eye of resident architecture critic Carter B. Horsley. Ahead, Carter brings us his ninth and final installment of “Skyline Wars,” a series that examines the explosive and unprecedented supertall phenomenon that is transforming the city’s silhouette. In this post Carter takes at aim the quality of design of those towers rising around the city right now, and how they fail to inspire when compared to those found internationally. The explosive transformation of the New York City skyline now underway is occurring without any plan in a very haphazard fashion. Some of the new towers are not ugly but compared to many new ones elsewhere, especially those that are free-standing, they’re not going to win many top honors. Many are very thin, mid-block incursions. Others arrogantly abut and loom over landmarks with nary a thought to context. Some clearly are aimed at one-percenters and offer lavish amenities and layouts. But many others are squeezing potential residents like sardines into very small apartments in attempts to set new “density” records.
The towers that got it wrong, and right
Weekly Highlights: Top Picks From the 6sqft Staff
May 7, 2016

Weekly Highlights: Top Picks From the 6sqft Staff

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$250M Penthouse at 220 Central Park South Will Officially Be NYC’s Most Expensive Apartment East River Skyway Proposal Gains Steam, Would Only Cost Riders $25/Month The Whole Foods Effect: Does the Green Grocery Increase Home Values? Pinball Prohibition: The Arcade Game Was Illegal in New York for Over 30 Years Live in Extell’s Hudson Yards […]

Hedge Funder Daniel Nir’s $52M Co-op Sale Is This Year’s Biggest
May 2, 2016

Hedge Funder Daniel Nir’s $52M Co-op Sale Is This Year’s Biggest

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When Daniel Nir, founder and CEO of hedge fund Gracie Capital, and his wife, philanthropist Jill Braufman, listed their sprawling Upper East Side co-op for $48 million a year ago, it certainly caught raised a few eyebrows. But the 16-room home at 4 East 66th Street has actually sold over ask for $52 million, making it this year's biggest co-op sale and the seventh biggest co-op sale to date. It's also the first time this pre-war building has cracked the top-ten list. The couple bought the home in 2007 from hotelier Robert H. Burns for $29 million, leaving them with a nice chunk of change.
See what all the fuss is about
Skyline Wars: In Lower Manhattan, A New Downtown Is Emerging
April 18, 2016

Skyline Wars: In Lower Manhattan, A New Downtown Is Emerging

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Carter Uncut brings New York City’s latest development news under the critical eye of resident architecture critic Carter B. Horsley. This week Carter brings us his fourth installment of “Skyline Wars,” a series that examines the explosive and unprecedented supertall phenomenon that is transforming the city’s silhouette. In this post Carter looks at the evolution of the Lower Manhattan skyline. Lower Manhattan at the start of the Great Depression was the world’s most famous and influential skyline when 70 Pine, 20 Exchange Place, 1 and 40 Wall Street, and the Woolworth and Singer buildings inspired the world with their romantic silhouettes in a relatively balanced reach for the sky centered around the tip of Lower Manhattan. Midtown was not asleep at the switch and countered with the great Empire State, the spectacular Chrysler and 30 Rockefeller Plaza but they were scattered and could not topple the aggregate visual power and lure of Lower Manhattan and its proverbial “view from the 40th floor” as the hallowed precinct of corporate America until the end of World War II. The convenience and elegance of Midtown, however, became increasingly irresistible to many.
More on the the history of Lower Manhattan and what's in store
Buyout Legends: Developers Paid 15 CPW Hermit Holdout $17M to Move Into a Free Apartment
February 12, 2016

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

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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?
New Views of Robert A.M. Stern’s Limestone-Clad 70 Vestry Street
January 13, 2016

New Views of Robert A.M. Stern’s Limestone-Clad 70 Vestry Street

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The Related Companies has launched the teaser website for its upcoming Tribeca condominium 70 Vestry Street. Related CEO Jeff Blau signed the purchase contract in December 2013 and closed on the six-parcel lot from Ponte Equities for $115.3 million in early 2014. Site excavation is already well underway, and new renderings of the Robert A.M. Stern-designed building have now surfaced. The project will pay homage to the neighborhood's distinctive warehouse architecture, and in true Stern fashion, will be clad in sumptuous French limestone.
More details ahead
6sqft’s Most Read Stories of 2015!
December 21, 2015

6sqft’s Most Read Stories of 2015!

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It's that time of year when we take a look back at all the news-making topics that caught the eyes of 6sqft's readers. Jump ahead for our top stories of 2015 in everything from new developments to architecture to product design, people, celeb real estate and NYC history. You can also peruse 2014's most popular posts here to see how they compare!
all the top stories of 2015 here
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