Search Results for: billionaire

April 8, 2016

Judge Gives the Go Ahead to Barry Diller’s Pier 55 Offshore Park

Billionaire media mogul (and husband to Diane von Furstenberg) Barry Diller just had a big victory in his road to constructing Pier 55, a $130 million futuristic park off 14th Street in Hudson River Park. As reported by the Post, the Manhattan Supreme Court dismissed a case against the development that claimed it could have a negative environmental impact, wiping out local species such as the American eel and shortnose sturgeon. Justice Joan Lobis, who noted she enjoys biking along the Hudson, said the project did go through the appropriate environmental review process, which found that it "would not cause significant adverse impacts on the aquatic habitat." Though the plaintiffs, the civic group known as the City Club of New York, have vowed to appeal the decision, construction is currently set to begin later this year.
More information ahead

Architecture And Design

April 5, 2016

UES Firehouse Studio That Andy Warhol Rented for $150/Month Is Now Listed for $10M

By Dana Schulz

In 1959, just before his career was about to take off, Andy Warhol bought a townhouse at 1342 Lexington Avenue near 89th Street and moved in with his mother. "But after three years there, canvases had begun to fill the ground floor apartment, while Brillo boxes and Campbell’s soup cans were stacked to the ceilings," reports Blouin Art Info. So when a friend tipped him off to a vacant firehouse nearby at 159 East 87th Street, the pop artist saw an opportunity for his first official studio. He wrote a letter to the city and began paying $150/month for the two-story building with no heat or running water (h/t DNAinfo). It's here that Warhol is said to have created his famous "Death and Disaster" series from 1962-63, and now, more than five decades later, the property is on the market for $9,975,000.
Find out more this way

April 1, 2016

An Art Collector’s $14.5M West Village Carriage House Is Both Private Gallery and Family Home

By Michelle Cohen

Purchased in 1996 for $950,000 by French music producer, newspaper publisher, entrepreneur and passionate lifelong art collector Jean Lignel, this West Village carriage house received a renovation by architect Jeffrey Flanigan that transformed the 1834 landmark into both a family home and a made-to-order art gallery with 6,700 interior square feet and 1,825 square feet of outdoor space. Lignel’s collection includes many works by Keith Haring, Warhol, and celebrated contemporary artist (and mother of filmmaker Beth B) Ida Applebroog among many others. In addition to being able to showcase large art pieces, modern conveniences–like an elevator and a garage–abound. Lignel first listed this "West Village Arthouse" (as the current listing calls it) in 2007 for a whopping $20 million, possibly fresh from its extensive–and no doubt expensive–renovation. Since then, the home has been on and off the market, with broker swaps and price chops happening each time. In this latest go-round, the three-story historic home with an artistic pedigree is listed at $14.5 million.
Take a look inside this private gallery and family home

March 30, 2016

Richard Meier-Designed Tower Finally Begins Construction at Turtle Bay South Complex

By Ondel Hylton

Construction has finally begun on the westernmost lot of Sheldon Solow's Turtle Bay South master plan, 16 years after the developer purchased the site. Excavators are picking away at the 30,000-square-foot site at 685 First Avenue that has long held a surface parking lot and is just a small portion of a larger, long-planned development straddling First Avenue between East 35th and 41st Streets. Last August, plans were filed for 685 First, which will be a girthy 42-story residential tower with 555 rental units and 800,000 square feet of gross floor area. The tower is being designed by Pritzker Prize-winning architect Richard Meier, a surprising choice given the American architect is best known for his modest-scaled projects and white exteriors, while Solow is best known for their monolithic towers sheathed in black glass curtain walls. Nevertheless, when complete, the tower will be Meier's largest ever project in New York and will be just one of four residential towers and a pavilion he is scheduled to design for the billionaire developer.
More details and renderings ahead

March 14, 2016

Former Headquarters of the Christian Brothers Is Now a $15M Hell’s Kitchen Mansion

By Michelle Cohen

Spanning 7,000 square feet, with a two-story master bedroom that cantilevers out eight feet over the back garden, a back wall of glass and smart-everything, this single-family modern masterpiece may be mere blocks from the trophy towers of Billionaire's Row, but it outshines any of those eight-figure abodes by a midtown mile. Built in 1910, this six-story, 7,000 square-foot building at 416 West 51st Street was the headquarters of the Christian Brothers, whose main role was to keep neighborhood youth out of trouble, from 1953 until 2011. In the middle days of the 20th century through its end decade, there was trouble aplenty in the rough district known for tenements and street gangs. The neighborhood has come an almost unfathomly long way in recent years, and "the manse," as the listing calls it, is as good a parallel as we've seen. What's now being offered for $15 million is the result of the current owners' four year effort, in collaboration with Suk Design Group, to create a single family home fit more for a heavenly host than the Hell's Kitchen of history. Every inch of the building is wired for comfort and control, and there's a fully-stocked arcade and a "glass-wrapped floating staircase winding around the elevator like a helix," four enormous bedroom suites and that dramatic duplexed master suite.
Tour this unbelievable vertical mansion

March 10, 2016

Closing Time at 432 Park: A Look at the Numbers at NYC’s Tallest and Most Expensive Building

By Dana Schulz

Closings at Macklowe Properties/CIM Group‘s Billionaires’ Row blockbuster 432 Park Avenue officially commenced just eight days into the new year, and now that enough time has gone by for these sales to be re-listed as rentals, CityRealty has put together an informative infographic that takes a look at the numbers at New York City's tallest and most expensive residential building. There's a lot of fun and fascinating info to be found ahead, but one of the most surprising facts? Of the 141 units available, only 13 have sold to date.
See the full infographic here

March 9, 2016

From the ‘Seinfeld Law’ to Doggie Interviews, The Craziest Co-Op Board Stories Around

By Lauren Price

If you think you’re in like Flynn because you’ve got the dough, you’re still far from done if you’re buying a co-op. Since co-ops account for some 75 percent of New York’s housing stock when it comes to buying, you’d better hold onto your hat. That’s because you still haven’t sat in the personal interview-hot seat with the building’s gatekeepers to not just assess your finances, but to evaluate your worth as an individual. Whether you're a billionaire, a celebrity, of just a regular Jane with designs on one of these spaces, just keep in mind that there are a set of commandments that are never to be broken. Because when they are, there will be hell to pay. We've gathered up some of the best co-op board horror stories around, with anecdotes that involve everyone from Jerry Seinfeld to Steven Spielberg to a feisty little dachshund caught up in a bait-and-switch.
some unbelievable co-op board stories here

Real Estate Trends

March 5, 2016

Weekly Highlights: Top Picks From the 6sqft Staff

By Dana Schulz

Apply for One of Stuyvesant Town’s Affordable Apartments, Starting at $1,200/Month VIDEO: Watch the World Trade Center Oculus Get Built in 65 Seconds Beyond Bars: Designers Reimagine Rikers Island As a Destination Starchitect-Designed Public Projects Are Often Long Delayed and Way Over Budget Police Building Penthouse Gets a $5 Million Price Cut With New Views […]

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March 4, 2016

Roman Abramovich’s $80M UES Makeshift Mansion Gets Turned Down By the DOB

By Dana Schulz

A little over a year ago, Russian billionaire Roman Abramovich "secretly" purchased two sizable Upper East Side townhouse at 11 East 75th Street and 15 East 75th Street, for $29.7 million and $18.3 million respectively. It was quite obvious that the steel magnate had plans to create his very own makeshift mansion by snatching up the home in between, and this past summer he did just that, dropping $30 million on 13 East 75th Street, which brought the total to $78 million. But now Abramovich may have to alter his grand plans, since the Post reports that the Department of Buildings rejected his $6 million proposal to combine the Queen Anne-style townhouses. Prepared by architect Stephen Wang, the plan called for an 18,255-square-foot mansion with a six-foot front yard, 30-foot backyard, and pool in the cellar.
So, what's next?

Celebrities

February 24, 2016

One Mechanical Failure Can Delay 625 Subways; How Immigration Law Fueled Chinese Restaurants

By Dana Schulz

How one mechanical failure at Union Square redirected 625 different trains in one day, affecting hundreds of thousands of passengers. [NY Mag] After reviewing the backlog of 95 sites yesterday, the Landmarks Preservation Commission decided that 30 sites are worthy of protections. [Curbed] The “lo mein loophole:” how U.S. Immigration law fueled a chinese restaurant boom. [NPR] Beijing […]

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February 23, 2016

Renderings Revealed for Upper East Side’s First Supertall at Former Subway Inn Site

By Dana Schulz

In October, 6sqft reported that a 1,000+ foot condo tower could rise on the former site of beloved dive bar the Subway Inn (which, after 77 years, had to relocate to a site around the corner in August 2014). The news came nearly two years after the World Wide Group bought a six-parcel assemblage on 60th Street between Third and Lexington Avenues. Then, this past summer, World Wide enlisted Cushman & Wakefield to sell the property, "using renderings of a glassy supertall tower and talk of nearby Billionaires Row to sweeten the deal." Kuafu Properties bought the 19,685-square-foot plot for $300 million in the fall, and now Yimby has uncovered renderings of a glassy, slender tower proposed for the site.
Who designed the supertall tower?

February 23, 2016

Restaurateur Keith McNally’s Greenwich Village Townhouse Is on the Menu for $13.95M

By Michelle Cohen

After spending some time on the rental market, first at $25,000/month then $19,000/month, restaurateur Keith McNally's 4,600 square-foot Greek Revival townhouse at 105 West 11th Street is for sale for $13.95 million (h/t Curbed). The New York Times once called McNally, whose success stories include buzzy establishments like Balthazar, Cherche Midi, Odeon, Café Luxembourg, Schiller’s and Minetta Tavern, "the man who invented Downtown." McNally purchased the house in 2002 for $2.496 million. Built in 1910, this 21-foot-wide, five-bedroom, four-story home should appeal to historic townhouse lovers as well as anyone with kitchen ambitions. From the walk-in wine cellar to the rustic French-country interiors, the house has been restored with a floor plan that considers both entertaining and daily life. Impressive details include five wood burning fireplaces, imported timber beams, reclaimed wide plank oak floor boards, casement windows, Venetian plaster walls and landscaped outdoor spaces, all on a historic townhouse-lined Greenwich Village street.
Take a look inside

February 20, 2016

Weekly Highlights: Top Picks From the 6sqft Staff

By Dana Schulz

This Map Explains the Historic Tile Color System Used in NYC Subway Stations Get a Head Start on the Creative Possibilities in This $2.5M Funky Tribeca Live/Work Loft Looks Like Sarah Jessica Parker Is Combining Two West Village Townhouses Apply Now for 13 New Affordable Apartments Across Williamsburg, Starting at $756/Month New Rendering, Details of […]

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February 19, 2016

Skyline Wars: What’s Rising in Hudson Yards, the Nation’s Largest Construction Site

By Carter B. Horsley

Carter Uncut brings New York City’s breaking development news under the critical eye of resident architecture critic Carter B. Horsley. This week Carter brings us the third 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 zooms in on Hudson Yards. The Hudson Yards neighborhood in Far Midtown West is one of the country’s most active construction areas. Construction cranes dot its emerging skyline and dozens more are promised now with the district's improved connection to the rest of the city. Last fall, the 7-line subway station at Eleventh Avenue and 34th Street opened with one-stop access to Times Square. The newly-minted station features a lengthy diagonal escalator bringing commuters to the front-door of the huge mixed-use project being created over the rail yards west of Tenth Avenue between 30th and 33rd streets. Originally, a second station was contemplated on 41st Street and Tenth Avenue but transit officials claimed it could not afford the $500 million expenditure, despite the enormous amount of new residential construction occurring along the far West 42nd Street corridor. Nevertheless, the finished Hudson Yards station deposits straphangers into a new diagonal boulevard and park between 10th and 11th Avenues that will ultimately stretch from the Related Companies / Oxford Property Group's Hudson Yards master plan northward to 42nd Street.
read more from carter here

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

February 12, 2016

Revealed: Central Park Tower Shows Off Its Retail Base

By Dana Schulz

Now dubbed the Central Park Tower, Extell's 1,550-foot-tall supertall on Billionaires' Row was originally known as the Nordstrom Tower, so named because of its ground-floor tenant who will be opening their first Manhattan flagship store. But despite the fact that we architecture nerds were saying "Nordstrom" for years, we had no idea how the store would actually factor into the 95-story building's overall design (which was recently knocked down from a whopping 1,775 feet with the loss of its spire). But now, the Seattle Times (the department store is based out of the Washington city) has revealed renderings of the retail base, reports NY Yimby.
All the details and renderings

February 5, 2016

UES Townhouse With Hermès Leather Walls and Smoking Room Could Set Record at $84.5M

By Michelle Cohen

Somerset Partners’ Keith Rubenstein just put his 15,000-square-foot townhouse at 8 East 62nd Street on the market for $84.5 million, outdoing Carlos Slim's $80 million listing. The luxury-filled Upper East Side home is one of the city's priciest townhouse listings ever (h/t WSJ), and if it fetches the listing price it would set a Manhattan townhouse record, besting the Harkness Mansion’s 2006 $53 million sale. In addition to marquetry flooring inspired by those at Pavlovsk Palace in St. Petersburg, there are his and hers suites, a basement spa and gym, and a pretty unique modern art collection (see the massive KAWS bunny sculpture in the living room). Some off-the-wall features include red Hermès leather walls, a smoking room equipped with ventilation system, and a dressing room with a lighted handbag display and temperature-controlled fur vault.
Check out the rest of the zany house

February 5, 2016

432 Park Avenue’s First Recorded Sale Just Became Its First Listed Rental for $60K a Month

By Michelle Cohen

Less than a month after 432 Park Avenue recorded its first sale at $18,116,000, the first unit to close at the Billionaires' Row blockbuster has appeared on the rental market for $60,000 a month (h/t Curbed). As 6sqft previously reported, "The unit is #35B, a massive 4,003-square-foot, three-bedroom pad with four-and-a-half baths, a private elevator landing, and 10-foot by 10-foot windows providing southern and western exposures with park views." It was purchased via an LLC, 432 PARKVIEW, but now that it's been re-listed as a rental, it's also the first apartment whose interiors we get a peek at outside the generic, digitally-enhanced promotional images that accompany listings.
Take a look at the generic, non-digitally-enhanced interiors

February 5, 2016

Combine This Matched Pair of UES Townhouses for a $22M Mega-Mansion

By Michelle Cohen

Last year, three massive UES townhouses were marketed for megamansion potential and listed for $120 million, and Russian billionaire Roman Abramovich bought this sprawling townhouse combo for his own makeshift manse. Now, here's an opportunity to combine a pair of more modest–though by no means small–late-1800s townhouses for an Upper East Side mansion of your own, albeit on–let's call it a more human scale (forgetting for a moment that some lucky human gets to live in 6,700 square feet with 38 feet of frontage.). When you first see this matched pair of houses side-by-side at 159-161 East 82nd Street, you're struck by their charm and how much they epitomize the neighborhood's tree-shaded, brownstone-lined blocks. The fact that both four-story homes are for sale as a package deal for $22 million presents a mind-boggling list of options. There are even alternate plans that show you where to put a cellar pool (plus a sauna and a gym)!
Take a look inside

February 3, 2016

For $23 Million You Can Be Donald Trump’s Downstairs Neighbor

By Michelle Cohen

A sprawl-o-rama of a penthouse a few floors below the Donald’s Trump Tower apartment is on the market for $23 million, but you’re paying for dizzying views and a palatial floor plan, not proximity to the building’s progenitor–though he did once own the apartment back when it was home to his mom and pop. It’s also rumored (according to Page Six) that Trump rented the pad out to his pal Michael Jackson and his new bride Lisa Marie Presley for $110,000/month back in the day, so you’ve got all sorts of party tidbits to go with your ridiculously enormous apartment. And if your dream is to re-live the '80s like a boss (and by that we mean nonagenarian dowager), the 3,725-square-foot, four-bedroom pad is ready for your key in the door. Otherwise you might want to do a little renovation.
See the whole spread

Distinctive Homes

February 2, 2016

Construction Update: BKSK Architects’ ‘Hi-Side’ Tower Goes Vertical on the Far West Side

By Ondel Hylton

BKSK Architects have designed a robust steel- and brick-faced building at 509 West 38th Street, slated to open in 2017. After a failed condo proposal, a foreclosure, and a developer switch, the project is finally ascending and is already seven stories out of the ground since we last checked a week ago. Dubbed "The Hi-Side," the 158,000-square-foot, mixed-use tower is being developed by investment firm Imperial Companies, who picked up the site from Iliad Development in an undisclosed deal. Fast forward nearly eight years, and a 30-floor, 345-foot building is rising at the site. Situated at the eastern block front of the future Hudson Park Boulevard, bands of ribbon windows along its western face will provide residents with sweeping views of the Hudson River. The base of the tower, which will feature a restaurant, is clad in a muscular rhythm of exposed steel, brick spandrels, and large multi-pane windows.
Find out more

Loophole Allows Developers to Build ‘Skyscrapers on Stilts’ to Give Residents Ocean Views

Image by CityRealty

January 18, 2016

Loophole Allows Developers to Build ‘Skyscrapers on Stilts’ to Give Residents Ocean Views

By Michelle Cohen

There has been plenty of heated discussion over the city’s latest supertall towers such as 432 Park Avenue, 111 West 57th Street, and 225 West 57th Street; they block light, alter the skyline and cast long shadows, for example. To add fuel to the fire, Crain’s reports today on a recent discovery in developers’ attempts to construct the tallest towers possible–with views above 700 feet that not only stretch south over Manhattan, but reach to the open Atlantic Ocean 14 miles in the distance. Currently, regulations govern how many square feet of livable space can be built on a development plot, which limits the height to which residential towers can rise. But rather than squandering those square feet on lower, less-in-demand floors, developers are vertically expanding the mechanical spaces used in their buildings–which don't count toward the square footage allotment. This allows them to start their apartments higher up, essentially "putting a skyscraper on stilts."
Start higher, build taller

January 12, 2016

Brooklyn’s Future Tallest Tower to Hit 1,066 Feet

By Dana Schulz

Less than a month ago, developers Michael Stern and Joe Chetrit closed on Downtown Brooklyn's Dime Savings Bank building for $90 million, which provided them with the 300,000 square feet of air rights needed to construct Brooklyn's first 1,000+ foot tower at 340 Flatbush Avenue Extension. Since news of the future tallest building outside Manhattan first came to light in August, the exact height hadn't been reported. But now NY Yimby has uncovered the number, and it's a whopping 1,066 feet, amounting to 556,164 square feet of total space.
READ MORE

New Developments

January 12, 2016

See How 6 Columbus Circle Could Change the Central Park Skyline

By Ondel Hylton

Last Friday, a marketing brochure was released promoting the sale of 6 Columbus Circle, an 88-room boutique hotel that exudes a modernist '60s flair throughout its spaces. While the brick and limestone gem owned by the Pomeranc Group received an ungainly five-story addition in 2007, its ornate 58th Street facade survived intact–though now, its days may be numbered. The New York Observer reported last month that the owners have placed the building up for sale, tapping Cushman & Wakefield as exclusive marketers. With angled views of Central Park starting at less than 100 feet above street level, a source estimates the property could fetch a staggering $1,400 per buildable square foot, a pot of gold to developers' eyes. And the marketing brochure makes the possibilities very clear, conceptualizing a 700-foot-tall, mixed-use spire from the nimble, 42-foot-wide lot.
See how this could change the skyline

January 11, 2016

Visualizing All the Money in the World in One Infographic

By Michelle Cohen

From the value of all the Bitcoins in the world ($5 billion) to the amount of total global debt ($199 trillion) to the barely-fathomable amount of the derivatives market (as much as $1.2 quadrillion. Yup. Quadrillion), a chart created by The Money Project, produced by Visual Capitalist, attempts to put all the world’s currency in one place in the form of tiny, little squares (h/t Fast Co. Exist). Starting with the question, "How much money exists in the world?" this data visualization starts with the world’s total money supply.
More really big numbers, this way

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