Search Results for: billionaire

March 29, 2017

Outer borough creatives earn significantly less than their Manhattan counterparts

Data shows the borough in which you work could decide what income you bring home. CityLab looked at the city’s divided class structure in three main classes of employment--creative, service, and working--and in which borough these workers reside. The data shows that the creative class, made up of tech workers, artists, designers, and educational professionals, cluster in Manhattan, which employs nearly 70 percent of the city’s entire creative class. On top of that, clear income discrepancies exist among boroughs with the average salary for a creative class worker iat $96, 970 in Manhattan, $79,248 in Queens, $77,875 in the Bronx, and $76,565 in Staten Island. Surpisingly, Brooklyn's creative class earns the least, with an average of $74,963.
Find out more here

City Living

March 29, 2017

Supertall skyscraper dangles from an asteroid to become the world’s tallest building

By Devin Gannon

New York City-based design firm Clouds Architecture Office has proposed a conceptual skyscraper that would hang down from the sky suspended by air cables attached to an asteroid, making it the world's tallest building. As dezeen learned, the supertall, dubbed Analemma Tower, would not be built on Earth but instead have a “space-based” foundation. Each day, the tower, which would be constructed over Dubai, would travel between the northern and southern hemispheres, with the slowest part of the tower’s trajectory occurring over New York City.
See the supertall renderings here

Architecture And Design

March 27, 2017

World Trade Center Performing Arts Center may be delayed again

By Dana Schulz

It's been almost 13 years since Frank Gehry initially designed the Performing Arts Center at the World Trade Center (PACWTC). After his plans got shelved in late 2014 due to fundraising issues and construction delays on the transit hub below, it seemed like the last vacant site at the complex would forever remain that way. That is until this past fall when a $75 million gift from billionaire businessman and philanthropist Ronald O. Perelman brought the $243 million project back to life and made it possible to proceed with new designs. Despite this new optimism, it looks like the Center will be delayed yet again, as Crain's reports that unresolved issues between the Lower Manhattan Development Corp. and the Port Authority are setting things behind schedule, which could cost the project $100 million in federal funds.
Get the full scoop

Real Estate Trends

Construction update: Extell’s Central Park Tower gets its fluted glass curtain wall

West 58th Street elevation of Nordstom’s podium; CityRealty

March 27, 2017

Construction update: Extell’s Central Park Tower gets its fluted glass curtain wall

By Devin Gannon

When it reaches its projected 1,550-foot height, Extell Development’s Central Park Tower will have the highest roof-line of any residential building in the Western Hemisphere, besting the current record holder 432 Park. Though the $2.98 billion project won't be complete until 2019, construction is moving ahead along Billionaires' Row, reports CityRealty. The 58th Street side, which will hold a 285,000-square-foot, seven-story Nordstrom store, is currently receiving its fluted-glass skin, a "Waveforms Facade."
See more views here

New Developments

A rendering of 666 Fifth Avenue. Credit: Kushner Companies/Zaha Hadid Architects

March 22, 2017

Kushner Cos. vision for 666 Fifth Avenue has Zaha Hadid design and $12B ambitions

By Michelle Cohen

As 6sqft previously reported, 666 Fifth Avenue owners Kushner Companies and Vornado Realty Trust have been seeking financing for a new skyscraper planned for the site of the Midtown office tower that Kushner purchased for $1.8 billion in 2007; Chinese company Anbang Insurance Group is said to have been considering a substantial stake in the tower. Though it was reported that the redevelopment could be valued at $7.5 billion, the Wall Street Journal now cites sources who say the value could be as much as $12 billion, and that a reported deal with Anbang may be far from a sure thing. That huge number represents the projected value of what Kushner envisions as a 1,400-foot-tall mixed-use luxury tower with a design provided by the late Zaha Hadid in 2015, nine floors of retail, a hotel and big-ticket luxury condos on its upper floors.
Find out more about the possibly maybe very big deal

Architecture And Design

March 2, 2017

Inside the prismatic Spring Street salt shed; NYPL acquires Lou Reed’s archive

By Dana Schulz

De Blasio’s 90 new homeless shelters will be located in the areas where New Yorkers last lived before applying for shelter. This interactive map shows where they’ll be. [Crain’s] Russian billionaire Roman Abramovich was outed as last summer’s renter of the East Hampton estate where Jackie O spent her childhood summers. [NYP] The New York […]

Uncategorized

February 27, 2017

Maya Lin-designed Tribeca mansion lists for $35M

By Dana Schulz

Despite the claim by some preservationists that the building looked like "a block of swiss cheese," back in June the Landmarks Preservation Commission approved Maya Lin Studio's design of a contemporary mega-mansion in the heart of Tribeca's historic district. The plans call for a five-story, 20,000-square-foot home at 11 Hubert Street--including incredible amenities such as an 82-foot swimming pool, basketball/squash court, four-car garage, and an open-air courtyard--and, as the Post reports, the corner site has just hit the market for $35 million, though this doesn't include the $15 million it'll cost to actually build the house.
Find out more about this opportunity

February 14, 2017

432 Park owner attempts to sell $20M apartment with iPhone photos

By Diane Pham

If you've been as curious as we have to know what the inside of 432 Park looks like IRL, look no further than unit #52C, now for sale by owner. LLNYC spotted the listing today which boldly ditches professionally staged photos for somewhat sloppy phone snapshots of the interiors. As the mag points out, 432's developers have been keen on putting the luxury tower's best foot forward, revealing only sleek renderings or retouched images of impeccably outfitted model units to press and onlookers.
more inside here

Distinctive Homes

Extell reveals renderings of new Central Park West condo tower

Rendering of 36 West 66th Street via Extell (L); Approved zoning diagram via NYC DOB (R)

February 1, 2017

Extell reveals renderings of new Central Park West condo tower

By Dana Schulz

Though Extell is best known for sky-high mega-developments like One57, the Central Park Tower, and One Manhattan Square, they've also been taking on some slightly smaller residential projects, gobbling up swaths of real estate in the upper Midtown area. Their latest venture is a partnership with Megalith Capital Management to build a new condo tower near Central Park West. Located at 36 West 66th Street, the 292-foot, mid-block building will replace three small office buildings and the synagogue of Congregation Habonim. The latter will be incorporated into the new design, for which CityRealty has uncovered the first rendering and updated details.
READ MORE

January 31, 2017

Extell buying former Carnegie Deli site

By Dana Schulz

Yesterday, workers removed the iconic neon sign outside Carnegie Deli, but the final nail in the coffin comes from the news that mega-developer Extell is buying the pastrami mecca's former home on a block where they already own two other sites. The Post got word that Gary Barnett's firm will close on a deal as soon as today for the six-story building at 854 Seventh Avenue. The 79-year-old deli closed on December 31st, but in 2015, Extell paid $9.1 million to owner Marian Harper Levine for their air rights.
Find out more

Real Estate Trends

Rendering of 86 Fleet Place via Goldstein, Hill & West (L); Construction as of October 2016, via CityRealty

January 26, 2017

Live in John Catsimatidis’ curvy Downtown Brooklyn rental tower from $833/month

By Dana Schulz

Way back in 1982, the CEO and owner of Red Apple Group, John Catsimatidis (you may know him better as the billionaire owner of Gristedes or for his failed Republican run in the last mayoral election) paid $500,000 for a 2.5-acre, four-block site in Downtown Brooklyn, on the western edge of Fort Greene. Thirty-five years later, construction is wrapping up on the final, and by far the tallest, of the four-tower development. The curving glass building at 86 Fleet Place was designed by Goldstein, Hill & West and will rise 32 stories/350 feet and house 440 rentals, 29 of which are set aside as affordable and have just come online through the city's affordable housing lottery. They range from $833/month studios to $1,247/month three-bedrooms and are available for those earning 45 to 60 percent of the area media income.
Find out if you qualify here

January 6, 2017

Plans filed for a 21-story Coney Island ‘Dreams’ project on the boardwalk

By Michelle Cohen

Developer John Catsimatidis' Red Apple Group has filed plans for a 21-story tower on a Surf Avenue parcel that he purchased last summer according to Brooklyn Daily; the tower is part of a three-building Coney Island project that will likely include 415 apartments and retail. In the billionaire grocery mogul's typically patient fashion, he has slowly been acquiring the Boardwalk-adjacent lots between West 35th and West 37th streets for the project, called Ocean Dreams, since 2005.
Find out more

December 23, 2016

‘Subway Therapy’ gets a book deal; a NYC Santa reveals his identity

By Dana Schulz

Not only will the “Subway Therapy” Post-Its will be preserved in an exhibit at the New-York Historical Society, but they’ll also be made into a book. [Gothamist] Watch how subway cars get loaded onto the tracks. [Business Insider] Bill Ackman bought the $91.5 million penthouse at One57 in hopes of flipping it, but his plans may be changing now that […]

Uncategorized

December 21, 2016

Interactive map reveals the shadows cast by every New York City building

By Diane Pham

The Times calls the phenomenon a "struggle for light and air." And indeed, while New York City architecture is lauded for both its design and innovation, the decades-long race to build bigger and taller has taken a toll on the cityscape, particularly in the form of shadows. While any recent criticism of the effect has been directed towards the towers rising along Billionaire's Row, as The Upshot's map reveals, New Yorkers on the whole spend a lot of their time cutting through long stretches of shadow. The map documents thousands of buildings across the five boroughs, denoting age, height and the resulting shadows cast at ground level over the course of one day, down to the minute, during all seasons. As seen above, tall-tower haven Central Park South is cloaked in darkness 24/7 during the fall, winter, spring and summer months—but then again, if you peruse the map, you'll see a lot of other blocks are too.
find out more

City Living

December 21, 2016

Mystery investor buys Donald Trump’s childhood home in hopes of flipping it

By Annie Doge

Hoping to cash in on Trump-mania, an anonymous New York investor scooped up the President Elect's childhood home in Jamaica Estates, Queens in the hopes of bringing it to auction next month and turning a profit. Mansion Global got the news from auctioneers Paramount Realty USA, who say the bidding will take place on January 17th. Previous reports have estimated that the six-bedroom, Tudor-style home that Trump's father Fred built could fetch up to ten times its most recent $1.2 million ask, or a whopping $10 million.
Get the full scoop

Celebrities

December 13, 2016

Interactive map reveals the income gap that divides NYC’s richest and poorest

By Michelle Cohen

According to a 2016 Pew report, the middle class is shrinking in 90 percent of U.S. cities. It's the first time in our nation's history that the middle class doesn't make up the economic majority. Instead, the highest- and lowest-income households combined comprise over 50 percent of the population. And in New York City, the divide is startling. One in five New Yorkers live below the poverty line, while the upper five percent of Manhattan residents earned more than $860,000 in 2014. GIS software company Esri has created a series of interactive maps that visualize this wealth divide in NYC and across the country, revealing where the richest and poorest live and the new economic divisions that are forming in our major metropolitan areas.
Maps, this way

Uncategorized

December 12, 2016

Historic 1865 Chelsea firehouse was Andy Warhol’s 1949 refuge, now renting for $33K

By Michelle Cohen

The Chelsea Firehouse at 323 West 21st Street would be an historic icon based on its origins alone, beginning in the late 19th century as an actual firehouse, built to accommodate a shiny new horse-drawn steam pumper engine (h/t Daytonian in Manhattan). The mid-Victorian era structure not only survived the ensuing decades, but in 1999, Architectural Digest featured the duplex shown here, by then one of three luxury apartments, calling it "indisputably one of a kind." In the years between, the building was home to free-spirited performers and artists, including Andy Warhol and Philip Pearlstein who sought refuge here from seedy lodgings in the East Village. The designer-renovated, uniquely-configured 4,000 square-foot duplex in this storied building is now on the rental market for $33,000.
Find out more about this iconic home

December 10, 2016

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

By 6sqft

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

New Developments

December 9, 2016

The Urban Lens: Harlan Erskine explores an eerie Midtown after midnight in 2008

By Alyssa Alimurung

6sqft’s ongoing series The Urban Lens invites photographers to share work exploring a theme or a place within New York City. In this installment Brooklyn resident Harlan Erskine highlights the Midtown lobbies and streets past midnight, during the Great Recession. Are you a photographer who’d like to see your work featured on The Urban Lens? Get in touch with us at [email protected]. Though Midtown is now booming with larger-than-life skyscrapers and blockbuster condos along the likes of Billionaires' Row, 9 years ago at the peak of the Great Recession, it was a much different story. In 2008, Brooklyn photographer Harlan Erskine took to the city after dark and documented the ghost town that was Midtown. While New Yorkers are today used to seeing bustling crowds spilling into the streets at all hours, Harlan's photographs depict the polar opposite: empty office lobbies, streets and sidewalks.
photos this way

Places

December 7, 2016

Condos at 432 Park selling at an average discount of 10 percent

By Dana Schulz

432 Park Avenue may be the tallest residential building in the western hemisphere and home to the most expensive apartment closing this year, but throughout 2016, the tower's ultra-luxury condos were selling at an average discount of 10 percent, according to an analysis by appraiser Miller Samuel Inc. for Bloomberg. And a recent transaction saw an even greater price cut; Lewis Sanders, founder and CEO of Sanders Capital and former CEO of AllianceBernstein, bought an 88th floor penthouse for $60.9 million, 20 percent less than its $76.5 asking price.
What's the deal?

Real Estate Trends

November 30, 2016

Upper East Side townhouse in contract for $81M will be most expensive ever sold

By Dana Schulz

When Carlos Slim, Mexican business magnate and former world’s richest person, listed his Upper East Side Beaux Arts mansion for $80 million in May 2015 he was looking to break the record for most expensive townhouse ever sold in NYC. An attempt was then made by this $84.5 million home on East 62nd Street, but now another neighborhood home is set to take the title. As the Post shares, 19 East 64th Street was listed for $100 million in August, and it's now in contract by a Chinese conglomerate for a reported $81 million. If it closes, the price will far surpass the current record, the $53 million sale of the Harkness Mansion at 4 East 75th Street in 2006.
But there's some drama behind the sale

Distinctive Homes

November 18, 2016

UES studio Andy Warhol rented for $150/month sells for $10 million

By Diane Pham

In addition to being one of the world's most iconic artists, Andy Warhol appears to have had the Midas touch for real estate. In 2013, Warhol's one-time townhouse on Lexington Avenue sold $5.5 million—he paid just $60,000 for it in 1959; then last October, the artist's former Montauk compound, which he paid just $225,000 for in 1972, sold for a whopping $50 million; and now, as The Real Deal reports, the ramshackle Upper East Side studio he rented for paltry $150 a month has just traded hands for an incredible $9.9 million.
find out more

November 16, 2016

For $4.2M this four-bedroom Village loft condo is the picture of understated luxury and charm

By Michelle Cohen

While the $4.2 million price may sound steep, this sprawling 10th floor loft at 8 East 12th Street on the east side of Greenwich Village checks the boxes for just about every dreamy detail you'd need or want in a city apartment. At 2,330 square feet with four bedrooms, closets galore and an enormous great room, there's more than enough space for family, friends and guests. High-floor views go all the way down to One World Trade, and high ceilings accentuate the brightness in every room–and then there are the sunsets. Though there may be no million-dollar parking spots or Olympic-sized pool, this covetable condo is far from no-frills. Central air, a laundry room, marble baths and a chef-ready European kitchen are just a few just-right details; the building is located in one of the finest spots a Manhattan dweller could ask for, just blocks from Washington Square Park, the East Village, the Union Square Greenmarket and nearly every subway in the city.
Get a closer look

Distinctive Homes

Search Results for: billionaire

Pitch a Story

Interested in seeing the property in person?

Interested in seeing the property in person?

Distinctive Post Form

Get in Touch

Send us a Tip

Interesting in learning more about purchasing a new home?

Thinking about selling your home?

Sell a Home (Footer)

Before You Move On from this Page.

Your Daily Doseof NYC Life!

Before You Move On
from this Page.

Your Daily Dose
of NYC Life!