Search Results for: billionaire

Richard Meier’s East side master plan moving ahead with three condos and biotech offices

Rendering courtesy of Richard Meier & Partners / Solow / BloomImages

April 9, 2018

Richard Meier’s East side master plan moving ahead with three condos and biotech offices

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Across the street from Richard Meier’s nearly-complete new black glassy-facaded condo/rental tower at 685 First Avenue (known as 685 First), between First Avenue and the East River, a boarded-up construction site has remained quiet for the better part of a decade. Now, Curbed reports, the site’s developer, Solow Building Company, headed by Sheldon H. Solow, 89, and son Stefan Soloviev, confirms the site's awakening and imminent transformation into three condominium buildings and a fourth building, to be a biotech office, using the 2012 master plan penned by Meier's architecture firm.
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Over the next three years, city will spend over $1B to house homeless New Yorkers in hotels

Photo via Public Domain

March 28, 2018

Over the next three years, city will spend over $1B to house homeless New Yorkers in hotels

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Officials on Tuesday said the city will spend $384 million annually over the next three years to house homeless New Yorkers in commercial hotels, despite promises to phase out the once emergency-only measure. The costs, which will total more than $1 billion, will also include creating supportive services for families, as well as amenities hotel rooms lack, like refrigerators and microwaves, according to the New York Post. Department of Homeless Services told City Council members at a hearing Tuesday that the three-year contract is temporary, but needed as the city continues to open new shelters that will eventually replace cluster sites and other underperforming shelters.
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Life behind the stacks: The secret apartments of New York libraries

Image by Glynnis Ritchie via flickr

March 22, 2018

Life behind the stacks: The secret apartments of New York libraries

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For many book lovers, there is nothing more exciting than the idea of a home library. What most of the city’s book lovers don’t know is that until recently, there was an affordable way to fulfill the dream of a home library—at least for book lovers who also happened to be handy with tools. In the early to mid twentieth century, the majority of the city’s libraries had live-in superintendents. Like the superintendents who still live in many of the city’s residential buildings, these caretakers both worked and lived in the buildings for which they were responsible. This meant that for decades, behind the stacks, meals were cooked, baths and showers were taken, and bedtime stories were read. And yes, families living in the city’s libraries typically did have access to the stacks at night—an added bonus if they happened to need a new bedtime book after hours.
FInd out more about these apartments and the people who lived in them
One of only two condos with private terraces at One57 lists for $28.5M
March 21, 2018

One of only two condos with private terraces at One57 lists for $28.5M

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Sure, Michael Dell has bragging rights to buying One57's $100 million penthouse, the most expensive home ever sold in New York City, but Bill Ackman's $91.5 million buy a few floors down came with a coveted terrace. Only two units in the Billionaires' Row building claim "private outdoor space on the park," and the second has just come on the market for the first time, asking $28.5 million. Dubbed the Spring Garden Residence (as opposed to Ackman's "Winter Garden Penthouse," as Curbed notes), the 41st- and 42nd-floor duplex boasts a 43-foot-long great room wrapped in floor-to-ceiling windows that lead to a 671-foot solarium and a terrace with views of the park and skyline.
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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.
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NYC’s homeless shelter population would make it the 10th largest city in the state

Via Pexels

March 14, 2018

NYC’s homeless shelter population would make it the 10th largest city in the state

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Earlier this year, Mayor de Blasio was criticized for failing to open 10 of the 20 homeless shelters his administration pledged for 2017, with "delays in the permit process, time-consuming negotiations with nonprofits that run the shelters, and backlash from the community and public officials" to blame. The push came from the fact that NYC has the largest homeless population in the U.S., climbing near 78,000. All of this coupled together, the situation is now looking even more dire, as the Coalition for the Homeless' annual State of the Homeless Report finds that a record high number of New Yorkers make up the city's nightly homeless shelter population. This number, 63,495 (which includes 23,600 children), would make that group the 10th largest city in the state, notes the Daily News.
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Two Nomad buildings become landmarks; How much does it cost to get married in Brooklyn?

The Hotel Seville (L) and Emmet Building (R), via the LPC

March 7, 2018

Two Nomad buildings become landmarks; How much does it cost to get married in Brooklyn?

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The LPC has designated two historic Nomad buildings as individual landmarks, the Beaux-Arts Hotel Seville (today the Nomad Hotel) and the Emmet Building, a 1912 Neo-Renaissance commercial skyscraper. [NYC LPC] Chelsea’s Joyce Theater is trying out a new pay-what-you-wish initiative. [WSJ] Donald Trump fell 222 places on Forbes’ annual world billionaires list. [The Cut] A guide […]

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
Finalists for Park Avenue design contest propose an artificial mountain and a river for kayak commutes
February 27, 2018

Finalists for Park Avenue design contest propose an artificial mountain and a river for kayak commutes

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Fisher Brothers unveiled on Tuesday the 17 finalists chosen for its "Beyond the Centerline" design competition after receiving more than 150 submissions. Participants were asked to think of creative and ambitious ideas to transform the traffic medians along Park Avenue between 46th and 57th Streets. The finalists did not disappoint. Proposals call for an Alpine mountain, a massive aquarium, floating gardens, mini-golf, an elevated walkway and more. Although a jury will select the grand prize winner, all 17 proposals will be on display for public voting at Park Avenue Plaza, located at 55 East 52nd Street, from March 5 to March 9 for the second-place prize. Below, check out all of the unique projects.
See the ambitious ideas
Design competition proposals call for fish tanks and mini-golf in the middle of Park Avenue

Rendering courtesy of Eric Spencer

February 26, 2018

Design competition proposals call for fish tanks and mini-golf in the middle of Park Avenue

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In November, Fisher Brothers first launched a design competition to bring life to the boring traffic medians along Park Avenue, between East 46th and East 57th Streets. The privately-funded contest, dubbed "Beyond the Centerline," aims to spur creative thinking and unique ideas never before considered for the traffic medians. After the developer received more than 150 submissions from landscape architects and urban planners, the list has been narrowed to 17 finalists (h/t New York Times). Stand out proposals from the finalists include a mini-golf course, a glass aquarium and a curvy, elevated park.
More details here
More than half of NYC’s 20 most expensive sales were at One57 and 432 Park

432 Park Avenue via CIM Group/Macklowe Properties

February 26, 2018

More than half of NYC’s 20 most expensive sales were at One57 and 432 Park

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The buyer of One57's $100 million penthouse was unveiled as Michael Dell last week, finally solving the mystery of which billionaire set New York City's record for the most expensive home ever sold. The reveal sparked CityRealty's interest in finding out where other costly buildings fall in comparison. Unsurprisingly, Midtown's One57 and 432 Park make up 12 out of the city's 20 priciest homes ever sold with single units going for $100.47 million and $91.5 million, respectively. While those two buildings on Billionaires' Row easily take the top three spots, 15 Central Park West ranks fourth, with its $88 million penthouse sold in 2012.
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Conceptual proposal envisions futuristic mixed-use NYC project with micro units and drone landings
February 21, 2018

Conceptual proposal envisions futuristic mixed-use NYC project with micro units and drone landings

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Although Mayor Bill de Blasio announced last year new mandates to force building owners to reduce greenhouse gas emissions as a way to fight climate change, a Dallas-based architecture firm has taken the idea of sustainable design to the next level. During last month's International Builder's Show, Humphreys & Partners presented a conceptual plan for a mixed-use project on Manhattan's waterfront. In Pier 2: Apartment of the Future, the architects tackled major issues prevalent in many cities, like affordability and energy efficiency (h/t Curbed NY). The futuristic proposal includes two towers with modular and micro-units, which would boast futuristic amenities like artificial intelligence, drones, home automation and more.
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Plan for a performing arts space at the World Trade Center moves forward

Rendering via REX Architecture

February 16, 2018

Plan for a performing arts space at the World Trade Center moves forward

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The project to bring a performing arts center to the World Trade Center is finally back on track, almost 15 years after the idea was included in the original vision for rebuilding the area post-9/11. Gov. Andrew Cuomo announced on Thursday an agreement for a 99-year lease between the Port Authority and the World Trade Center Performing Arts Center Inc. (PAC) for $1 per year, paving the way for construction to begin. Named for the billionaire who gifted $75 million to the project, the Ronald O. Perelman Performing Arts Center will include 200,000 square feet of space, three halls and a rehearsal space, a restaurant and a gift shop. If everything moves smoothly, the center could open as soon as the 2020 or 2021 season.
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New York City’s priciest townhouse sets another record after $90M sale
February 15, 2018

New York City’s priciest townhouse sets another record after $90M sale

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Billionaire Len Blavatnik has broken the city's record for the most expensive townhouse after paying $90 million for an Upper East Side mansion, according to the New York Post. The seller, HNA Group, sold the home at 19 East 64th Street after recently picking it up in April for $79.5 million, a record at the time. Blavatnik, a music executive who already owns a home on 64th Street and paid $80 million for a home at 834 Fifth Avenue, has an estimated net worth of around $20.5 billion.
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Saudi prince’s Trump Place triplex with three bullet-proof panic rooms sells at a $40M discount
February 9, 2018

Saudi prince’s Trump Place triplex with three bullet-proof panic rooms sells at a $40M discount

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Six years ago, Saudi Prince Nawaf bin Sultan bin Abdulaziz Al-Saud listed his lavish Heritage at Trump Place triplex for a staggering $75 million. Three years ago, it got a price chop to $48.5 million, and The Real Deal now reports that it's closed for an even further discounted $36 million. Since the 10,500-square-foot home listed long before the reign of Trump, we're guessing it's not the building's namesake that caused it trouble on the market. Perhaps having three bullet-proof panic rooms isn't on everyone's real estate wishlist?
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NYC RENTALS: This week’s roundup of rental news & offers

Images (L to R): 325 Kent Avenue, Instrata Gramercy, 63 Wall Street and Watermark LIC

February 3, 2018

NYC RENTALS: This week’s roundup of rental news & offers

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Images (L to R): 325 Kent Avenue, Instrata Gramercy, 63 Wall Street and Watermark LIC Leasing Launches at 490 Lefferts Avenue; New Brooklyn Rentals Start at $2,000/Month Long Island City Hot Block: Live at the Crescent Club and Get 1 Month Free 63 Wall Street Luxury Rentals: 2.5 Months Free on 17 Month Leases + […]

For $75M, you can have your own mega-mansion in the Meatpacking District
January 26, 2018

For $75M, you can have your own mega-mansion in the Meatpacking District

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The listing calls this building at 799 Washington Street "one of the last grand historic structures in prime meatpacking district." And it could be yours for a cool $75 million. Turning it into a mega-mansion, however, will require serious work. (Though there's no lack for inspiration when it comes to mega-mansions in New York.) The 23,000-square-foot structure is currently configured as a high-end film studio and commercial space, topped off with a residential penthouse unit. Other suggestions to any deep-pocketed buyer, per the listing, include conversions to a boutique hotel or a multi-unit, live/work building.
Take a look inside
De Blasio administration falls short of pledge to open 20 homeless shelters in 2017

Photo via Wikimedia

January 23, 2018

De Blasio administration falls short of pledge to open 20 homeless shelters in 2017

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In 2017, Mayor Bill de Blasio's administration opened just 10 out of the 20 shelters planned for New York City under an initiative aimed at curbing the city's growing homelessness crisis. Last February, the city unveiled its "Turning the Tide on Homelessness" plan that included opening 90 shelters over five years, with about 20 shelters each in 2017 and 2018. But, according to the New York Times, the city fell short of its target last year, opening just half the number of shelters planned due to delays in the permit process, time-consuming negotiations with nonprofits that run the shelters and backlash from the community and public officials. Under de Blasio, the homeless population has grown. When the mayor took office in 2014, about 68,000 New Yorkers were without homes. Today, roughly 77,000 people are considered homeless in NYC, with 3,900 on the street, the largest homeless population in the U.S.
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After funding lawsuit against Pier55 offshore park, Durst joins board of Hudson River Park Trust

Rendering via Pier55, Inc

January 16, 2018

After funding lawsuit against Pier55 offshore park, Durst joins board of Hudson River Park Trust

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Manhattan Borough President Gale Brewer appointed Douglas Durst on Friday to the board of the Hudson River Park Trust, a group he has frequently criticized over their proposed Pier55 project. Durst admitted last year to funding a lawsuit to stop the trust's plan for an off-shore park on the Hudson River. While billionaire businessman Barry Diller, who is funding the $250 million project, halted construction in September, the plan was restored a month later, with pressure and financial help from Gov. Andrew Cuomo. Brewer told Crain's that Durst didn't volunteer, she asked him to join the board. "I think he loves the park," she said.
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In heated legal battle, condo board says it has the right to remove Trump’s name

Trump Place Apartments courtesy of Nick Normal’s Flickr

January 11, 2018

In heated legal battle, condo board says it has the right to remove Trump’s name

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While never especially popular in his hometown, President Donald Trump's approval in New York City dropped even more so after his election. His unpopularity among New Yorkers has taken a toll on his real estate empire: both average sales price and the average price per square footage at the 11 Trump-branded condos fell below the average in this area for the first time ever. And some residents living in condos that bear the president's name have started petitions to remove Trump from the building's exterior. At one 48-story luxury building on the Upper West Side, residents are debating whether or not to remove his name. The condo board at 200 Riverside Boulevard, or "Trump Place," now potentially faces a lawsuit from DJT Holdings, a company owned by Trump, for seeking to remove the name, the New York Post reported.
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NYC RENTALS: This week’s roundup of rental news & offers

Images (L to R): 325 Kent Avenue, Instrata Gramercy, 63 Wall Street and Watermark LIC

January 6, 2018

NYC RENTALS: This week’s roundup of rental news & offers

By

Images (L to R): 325 Kent Avenue, Instrata Gramercy, 63 Wall Street and Watermark LIC Billionaire Grocer Launches ‘THE EAGLE’ and Completes 1,000-Unit Project in Downtown Brooklyn New Listings at 7W21: See Inside Elegant Rentals by Morris Adjmi Architects Checking-In on The Eugene: New Homes in Midtown’s Tallest Rental Tower Leases from $1,800/Month at South […]

New renderings unveiled of John Catsimatidis’ 32-story Downtown Brooklyn rental ‘The Eagle’
January 5, 2018

New renderings unveiled of John Catsimatidis’ 32-story Downtown Brooklyn rental ‘The Eagle’

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Leasing has officially commenced at 86 Fleet Place, the final residential tower of John Catsimatidis' four-building development along Myrtle Avene, a site the billionaire first purchased from Long Island University in 1982. Dubbed by Catsimatidis' Red Apple Group as "The Eagle," the 32-story 440-unit building sits in between Downtown Brooklyn and Fort Greene and offers studios for $2,044/month, one-bedrooms for $2,743/month and two-bedrooms starting at $4,050/month. As CityRealty learned, residences will feature floor-to-ceiling windows, custom oak cabinets and Brazilian stone countertops.
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A massive 1,000-unit mixed-use project is planned right off the Coney Island boardwalk

Rendering of Coney Island North Venture via The Prusik Group

January 3, 2018

A massive 1,000-unit mixed-use project is planned right off the Coney Island boardwalk

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It's slated to be a big year for Coney Island--and not just when it comes to new rides and attractions. A massive development will join the growing redevelopment of the beachfront locale, which will be home to at least four major projects totaling 2,151 units in the coming years. According to CityRealty, Taconic Investment Partners and The Prusik Group are planning to build a ground-up, mixed-use complex tentatively referred to as "Coney Island North Venture." It'll be comprised of 1,000 apartments, 80,000 square feet of office space, and 150,000 square feet of retail along Surf Avenue. The complex will join a new 42-story tower, plus a 440-unit development that will boast its very own trolley.
All the development details
65th-floor unit at 432 Park changes hands for the third time in a year-and-a-half
December 28, 2017

65th-floor unit at 432 Park changes hands for the third time in a year-and-a-half

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The end of 2017 has seen a lot of record-setting headlines for 432 Park Avenue, namely the $91 million, three-penthouse sale that was the city's most expensive all year. And a sale at the supertall that came through city property records today makes it clear that there's no sign of slowing down. Unit 65A, a half-floor, three-bedroom spread, first sold in June of 2016 for $27 million to an anonymous LLC dubbed "432 Holdings LLC." This past September, the building's developers CIM Group and Macklowe Properties bought back the apartment for $27.9 million in a presumed attempt to let the seller buy a larger unit in the building. As The Real Deal reported, the seller did just that, upgrading to an 80th-floor unit that cost $39 million. But as of today, the developers have all but made their money back, as the 65th-floor residence sold yet again for $26.4 million to another LLC called "Mallow Enterprises."
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Chinese buyer snags three penthouses at 432 Park for $91M
December 20, 2017

Chinese buyer snags three penthouses at 432 Park for $91M

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After dropping a staggering $91.1 million, a buyer from China now owns three penthhouse apartments at 432 Park Avenue, the most expensive closing to date. Picking up units 92, 92B and 93B, the buyer, 432 Park Joy LLC, gets 11,906 square feet spanning two floors (h/t TRD). As 6sqft learned earlier this month, the combined units originally hit the market for roughly $120 million. Prior to this deal, the largest closing at the supertall was a penthouse that was asking $95 million but closed last year for $87.7 million. But it's still One57 that holds the record for the city's priciest residential deal, a penthouse that sold for $100.4 million in 2014.
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