Search Results for: billionaire

January 8, 2016

432 Park Avenue Records Its First Blockbuster Closing at $18.1M!

And so it begins! Closings at Macklowe Properties/CIM Group's Billionaires' Row blockbuster 432 Park Avenue have officially commenced with its first sale showing an impressive $18.116 million figure, as city records released this afternoon reveal. 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. Documents show that the palatial home was purchased via a LLC, 432 PARKVIEW.
more on the sale and the floor plan here

December 24, 2015

Brooklyn’s First 1,000+ Foot Tower Moves Forward, Developers Close on Last Site Needed

By Diane Pham

It's official, developers Michael Stern and Joe Chetrit have closed on the Dime Savings Bank building at 9 DeKalb Avenue in Downtown Brooklyn for $90 million, providing them with the air rights needed to build the borough's tallest tower. According to Crain's, who first broke the news, Stern and Chetrit will be able to transfer the bank building's 300,000 square feet of unused development rights to the new structure's site at 340 Flatbush Avenue Extension. As 6sqft previously reported, the new tower will soar more than 1,000 feet and is being designed by SHoP Architects. It will also be the city's tallest building outside of Manhattan when complete.
on the deal here

New Developments

Envision Design And Evoke Desire – New York, NY, Skyline 2030. Courtesy of Visualhouse. Click here to enlarge >>

December 18, 2015

Get a Look at the NYC Skyline in 2030!

By Dana Schulz

Though it's that time of year when we look back at the 12 months past, it's also a great time to look ahead. Which is exactly what creative design firm Visualhouse did with their incredible rendering of the NYC skyline 15 years from now. The image takes us from BIG's Via tetrahedron to the supertall towers of Billionaires' Row to the glistening cluster that will be Hudson Yards.
more here

December 18, 2015

Foodies Remember the Four Seasons; What Will Replace the Hipster?

By Dana Schulz

As the closing of the Four Seasons approaches, five regulars remember the iconic landmarked restaurant. [Grub Street] What will replace the hipster? Will it be yuccies, cutesters, or maybe health goths? [Vice] Traveling through Grand Central on the 25th? Hidden bar the Campbell Apartment will be open on Christmas for the first time. [Gothamist] Architect […]

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December 11, 2015

Demolition Begins on 500-Foot UES Condo Replacing the Art & Design Building

By Ondel Hylton

Demolition has begun at the Lenox Hill site of a forthcoming 30-story condominium being developed by Orlando-based Inverlad Development and Steve Mills’ Third Palm Capital. The future 45-unit, 481-foot tower will replace the five-story Art & Design Building at 1059 Third Avenue and utilizes development rights from an adjacent apartment building at 1065 Third Avenue, which will also host an entryway for the Lexington/63rd Street station of the Second Avenue Subway. The developers paid an entity associated with the Battaglia family $31.5 million for the property in 2012. Building permits were approved in late October, granting the team the go-ahead to build a narrow, slab-shaped tower designed by Manuel Glas. According to DOB filings, the first three floors will contain office space and a healthcare facility, and above are 32 residential units. The amenity floor on level 12 will feature a fitness center, spa, swimming pool, tenants' lounge, and an outdoor terrace. Above level 13, seventeen full-floor residences will possess commanding views of the burgeoning Billionaires' Row skyline, East River and Central Park.
More details ahead

December 10, 2015

This Pint-Sized Penthouse Has Two Terraces and a Big View of the Hearst Tower

By Michelle Cohen

A mere block from where Midtown’s newest Billionaires’ Row continues to rise along 57th Street south of Central Park, you'll find a thriving example of the classic New York City streetscape that has long-defined Midtown West, in places a jumble of skyscrapers, low-lying brick and rows of standard-issue mid-(20th)-century apartment buildings, in one of which you'll find this cozy co-op studio at 310 West 56th Street, described aptly by its listing as “the perfect pied-a-terre penthouse.” The 1964 co-op building is in a spot that’s getting more prime by the decade, already steps from the park, Columbus Circle and the Time Warner Center and blocks from Lincoln Center; then there’s that glittering condo canyon to the east and Bjarke Ingels’ game-changing Via rising to the west. The iconoclastic Norman Foster-designed Hearst Tower was among the vanguard–and it’s right across the street. Whoever lives here should probably be a fan of its gleaming white-and-glass geometric grid frame. Because they’re going to be seeing a lot of it.
Take a look

Distinctive Homes

December 9, 2015

Announcing the Winner of 6sqft’s 2015 Building of the Year!

By Alyssa Alimurung

A couple of weeks ago, 6sqft asked you which building you thought deserved the title of 2015 Building of the Year. We gave you 12 of the hottest new buildings in NYC, noteworthy for their envelope-pushing design, record-breaking prices, or unprecedented height. And now is the time to reveal the winner!
Drumroll please….

December 7, 2015

Could This Otherworldly 102-Story Tower Covered in Ornaments Be Coming to 57th Street?

By Ondel Hylton

Jaded by glass boxes and architectural imitations of styles gone by? Well this fascinating design by Mark Foster Gage Architects is sure to turn your architectural world upside down. Here's our first look at their 102-story residential supertower seemingly flown in from some advanced airborne civilization in a galaxy far, far away. While details are scarce, this eagle lands in the heart of Midtown's Billionaires' Row along West 57th Street between Fifth and Sixth Avenues. The whimsical design is a habitable sculpture of sorts, adorned from top to bottom in ornaments ranging from gears and propellers to an abstracted pair of birds diving in for a landing on two wing-supported balconies. The tower is topped by a temple-like observational platform which is then crowned by a golden wreath-like structure fit for any victorious Roman general.
more eye-popping visuals this way

December 7, 2015

VOTE for 6sqft’s 2015 Building of the Year!

By 6sqft

If you thought 2014 was an outstanding year that gave way to great new developments, 2015 could easily be considered epic. In the last 12 months, we've seen the rise of the supertalls along Billionaires' Row, a few groundbreaking structures that challenge traditional architectural geometry, and starchitect-designed towers with absurd asking prices. Here we've vetted 12 of the hottest buildings in NYC, noteworthy for their envelope-pushing design, record-breaking prices, or unprecedented height. So, in our second annual poll, we want to know what you think: Out of the dozen, which deserves the title of “2015 Building of the Year?” To help you make an informed decision, we've provided an overview of each contender, along with news highlights from the year. We're taking votes up until 11:59 p.m., Monday, December 7th, and we will announce the winner on Wednesday, December 9th. Happy voting, 6sqft readers!
Learn more about all the buildings in the running ahead

December 7, 2015

Skyline Wars: One Vanderbilt and East Midtown Upzoning Are Raising the Roof…Height!

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 second installment of nine-part series, "Skyline Wars," which examines the explosive and unprecedented supertall phenomenon that is transforming the city's silhouette. In this post Carter zooms in on Midtown East and the design of One Vanderbilt, the controversial tower that is being pinned as the catalyst for change in an area that has fallen behind in recent decades. Despite some objections from community boards and local politicians, New York City is moving ahead with the rezoning of East Midtown between Fifth and Third avenues, and 39th and 59th Streets; and earlier this year, the de Blasio administration enacted an important part of the plan, a rezoning of the Vanderbilt Avenue corridor just to the west of Grand Central Terminal. The Vanderbilt Avenue rezoning included approval of a 1,501-foot-high tower at 1 Vanderbilt Avenue on the block bounded by Madison Avenue, 42nd and 43rd Streets. The tapered, glass-clad tower, topped by a spire, is being designed by Kohn Pedersen Fox for SL Green. Mayors Bloomberg and de Blasio have championed the 1 Vanderbilt proposal despite serious concerns voiced by numerous civic organizations over the rezoning scheme that some see as “spot zoning” and the fact that the city has still not finalized nor published its complete rezoning package. Using air-rights transfers from the Grand Central Terminal area and zoning bonuses for providing $210 million for infrastructure improvements in the area, the tower will significantly alter the midtown skyline, rising several hundred feet above the nearby Chrysler Building and the huge and bulky but lower MetLife Tower straddling Park Avenue just north of Grand Central Terminal. Its 63 stories are several less than the Chrysler Building and just a few more than the MetLife Tower, which might be interpreted by some observers as indicated that it was in “context” with such prominent neighbors, but they are wrong.
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December 3, 2015

New Renderings of One Vanderbilt, Midtown’s Future Tallest Office Tower

By Ondel Hylton

The digital production studio Visualhouse has posted on their website our first motion video look at SL Green's 63-story office tower known as One Vanderbilt. Hailed to forever change the face of Midtown East and reinvigorate the business district, the $1 billion-plus, 1.6-million-square-foot tower was unanimously approved by the City Council this past summer, thus granting SL Green the green light to begin construction of the supertower immediately. Visualhouse's newly released renderings provide us with a clearer picture of how the building's full-block base will meet the street, and also remind us just how gargantuan the tower will be. According to the tower's architects Kohn Pedersen Fox (KPF), the tower will rise 1,401 feet to its spire, making it the second tallest building in the city upon completion. However, unlike the pencil-thin supertalls underway around Central Park, the project will throw up a substantial amount of bulk into the air.
See all the renderings

December 3, 2015

Pacific Park’s 550 Vanderbilt Tops Out; Affordable Rentals at Greenpoint Landing Start at $494

By Dana Schulz

The controversial condos atop the Mezritch Synagogue have hit the market. The luxury units start at $2.95 million. [Curbed] Pacific Park‘s first residential building 550 Vanderbilt has topped out at 17 stories. [6sqft inbox] Aby Rosen files plans to convert a former Noho women’s shelter to a “commercial behemoth” with the help of starchitect Annabelle […]

Real Estate Trends

December 3, 2015

City’s Once-Priciest One-Bedroom Rental Gets a $225K Price Chop, Now Only $75K a Month

By Michelle Cohen

When 6sqft became aware last February of the most expensive one-bedroom rental listing in the city, a $300,000 a month 1,200-square-foot (nope, we didn't forget a zero) penthouse atop the Surrey Hotel at 20 East 76th Street on the Upper East Side, we asked cheekily, "Why buy a $3.6 million dollar home when you can pay the same amount of money to live in a modest one-bedroom for a year?" Now that the unit–still on the market though with a fresh new broker–has gotten a hefty haircut of $225,000, it looks in comparison like a straight-up bargain at less than a million a year. So what are we getting for the still-significant monthly outlay?
Let's see what the fuss is about

Distinctive Homes

December 2, 2015

Revealed: See the Insanely Luxurious Amenities Inside Extell’s Controversial 80-Story LES Tower

By Diane Pham

Extell hasn't been making many friends with its new tower currently on the rise at 250 South Street, right next to the Manhattan Bridge. But even with hordes of locals cursing the mega-sized 80-story tower, Extell seems unfazed by the hate. Not only have they been unwavering about the development's 850-foot out-of-context height (the Manhattan Bridge is only 330 feet tall, mind you), the developer also has little interest in selling any units to anyone stateside, instead marketing their condos first to Asian buyers. Now, The Lo-Down has gotten their hands on the brochure that's being sent to Asia's wealthiest, an 88-pager revealing fancy apartment interiors and all of the "over-the-top" amenities that will fill the building, including things like a 70-seat movie theater, a tree house, a tea pavilion, a putting green, a sunken tranquility garden, a bowling alley, 75-foot indoor pool, a dog spa, a cellar bar...As written in the packet: "One Manhattan Square will redefine downtown luxury living."
Images inside the the tower here

December 1, 2015

NYC Dominates the Country in $10 Million-Plus Sales, See Them All on 6sqft’s Interactive Map

By Ondel Hylton

In October, Coldwell Banker Previews International released their semi-annual report tracking the real estate trends and market activity in U.S. cities that attract the largest share of high-net-worth individuals (HNWIs). Unsurprisingly, New York City leads the lists of most closings recorded and listings on the market priced above $1 million, $5 million, and $10 million between the one-year period of July 1, 2014 and June 30, 2015. More astounding, however, is that the number of closings recorded in the city above the $10 million price point is more than the sum of all deals in the next 19 cities on the list combined. According to the study, NYC raked in 217 residential closings of $10 million or more, followed by Beverly Hills and Los Angeles with 34 each. New York again leads the way with 367 listings priced at $10 million or more, followed by Miami Beach, Aspen, and Los Angeles. Regarding New York City, historical data from CityRealty tallies up a slightly higher number of $10 million+ closings over the same time period, totaling 241 such deals. The recently crowned most expensive building in the city, One57, garnered the greatest number of $10M-plus sales for a single building with a remarkable 30 deals -- which by itself is more than all cities in the country aside from the top three. The supertall tower was then followed by a three-way tie between 15 Central Park West, One Madison, and the Walker Tower.
Explore the $10M+ closings and listings on 6sqft's interactive map

Real Estate Trends

November 18, 2015

Luxury Buildings Help Drive Climate Change, Says New Study

By Dana Schulz

"Elite Emissions: How the Homes of the Wealthiest New Yorkers Help Drive Climate Change" is a new report from Climate Works for All, a project of advocacy group ALIGN. As 6sqft has previously reported, New York City is expected to be hotter, rainier, and severely underwater in the future, and this new study points to luxury buildings as one of the main culprits. As first explained by Curbed, "The group looked at the Forbes Billionaire List, then Business Insider's 20 Most Expensive Buildings in New York City list, and cross-referenced this information with the city's Energy Benchmarking data." They then drew up a list of the top ten offenders, all of which received an F for energy efficiency. Leading the pack is 838 Fifth Avenue, followed by 101 Warren Street, Trump Park Avenue, and Trump Tower, respectively.
More details and the full list

November 17, 2015

Interactive Map Shows the NYC Skyline in 2020

By Dana Schulz

"Before 2004, Manhattan was home to 28 skyscrapers 700 feet and taller. Since then, an additional 13 have been built, 15 are under construction, and 19 are proposed—47 more in all." Because of this supertall building boom, National Geographic has created an interactive map that lets users explore the NYC skyline in 2020 (h/t Untapped). The light blue buildings are those completed between 2004 and 2015; the orange are under construction; and the yellow proposed.
Get a look at the map here

New Developments

November 11, 2015

432 Park in Numbers: New Renderings and Superlatives Will Blow You Away

By Ondel Hylton

Now that Macklowe Properties'/CIM Group's 432 Park Avenue is nearing completion, with occupancy slated to begin in mid-2016 and 70 percent of units reportedly in contract, the development's marketing and branding agency DBOX has released a bevy of never-before-seen images of our skyline's newest icon. Being the tower of superlatives it is, it comes as no surprise that it boasts a marketing campaign to match. Employing sky-cams, drone photography, a million-dollar film, and breath-taking renderings and photography, 432 Park has perhaps the most elaborate promotional campaign ever conceived for a Manhattan condominium. With dozens of spectacular images to choose from, we hand picked a few to recap the development of this monumental supertower. We've also put together a timeline in numbers–from its record breaking height to its 1,200-pound marble sinks–to illustrate the extraordinary undertaking that has paved the way for the tower to become the most successful and desirable condominium ever erected in the city (sorry One57).
See it all right here

November 10, 2015

Developers Chop 432 Park’s Full-Floor Apartments Into Smaller, Cheaper Units

By Diane Pham

Is the city's tallest residential tower seeing a slowdown in sales? Crain's reports that 432 Park developers CIM and Harry Macklowe have begun splitting full-floor apartments at the 1,396-foot-tall tower into two with the hopes of attracting smaller ticket buyers who can't swing $80 million for a posh pad—but wouldn't be opposed to shelling out $40 million. The paper adds that the move "may signal a slowdown in sales for $50 million-plus apartments," particularly as the market gets inundated with ultra-luxe developments. "There is some concern that there aren't enough buyers who can afford apartments priced in the tens of millions of dollars—an increasingly common figure for the latest crop of ultra-luxury condos."
find out more here

November 9, 2015

Rendering Revealed for Brooklyn’s First 1,000-Foot Tower

By Dana Schulz

News broke back in August that Brooklyn's first tower over 1,000 feet might rise in Downtown Brooklyn as the result of the $90 million acquisition of Brooklyn’s landmarked Dime Savings Bank building by JDS Development. Previously, they bought the site next door for $43 million, and combined with the bank's 300,000 square feet of development rights, they acquired the means to build a tower of nearly 600,000 square feet at 340 Flatbush Avenue Extension. 6sqft got a taste of what's to come when we revealed a video that showed the insane views from the top of the could-be tower, but now Yimby has unveiled the official renderings and specs for the project, which come courtesy of starchitects SHoP. As previously speculated, it will reach 1,000 feet, making it the tallest building in the outer boroughs. The 90-story, vaguely Art Deco tower will have 466,000 square feet of residential space, amounting to 550 condo units, as well as 140,000 square feet of commercial space.
More on the development ahead

November 6, 2015

Construction Update: FXFowle’s Circle-Hugging Harlem Condominium Rises Over Central Park

By Heather Cooper Vivares

Artimus Construction's upcoming Harlem condo development Circa Central Park is rapidly rising skyward. After lengthy site remediation work due to a pre-existing BP gas station, the structure is finally above ground and already beginning to frame its sixth floor. Ultimately, the building will stand 11 stories/140 feet high and will contain some 126,362 square feet of total floor area. Artimus picked up the 13,500-square-foot site at 2040 Frederick Douglass Boulevard (285 West 110th Street) for $25 million in late 2013 after being selected through a bidding process conducted by the city's Economic Development Corporation. As part of the deal, Artimus must build space for the local Millennium Dance Company, which will occupy 8,000 square feet of the ground floor, and 20 percent of the building's 51 apartments must be designated as affordable housing.
More details ahead

November 4, 2015

One57 Leads New Report of Manhattan’s Top 100 Condo Buildings

By Dana Schulz

Six months may not seem like a long time, but a lot can happen in the Manhattan building market in 180 days, which is why CityRealty has released its new CR100 report, "an index comprised of the top 100 condominium buildings in Manhattan." The data tracks the performance of these buildings through the second and third quarters of 2015, and, not surprisingly, One57 has come out on top. The Billionaires' Row powerhouse has surpassed long-time leader 15 Central Park West as the most expensive condo on the island, coming in at $6,010 per square foot over the past 12 months, as compared to 15 CPW's $5,726. It also steals the spotlight for the majority of the last six months' most expensive sales.
More condo data ahead

Real Estate Trends

November 4, 2015

220 Central Park South Costs $5,000 Per Foot to Build, Now 50 Percent Sold

By Dana Schulz

Robert A.M. Stern's 220 Central Park South has been keeping us on our toes, from its $1.3 billion construction price tag to its $200+ million penthouse to its lightning fast sales (the building was one-third sold after just six weeks, and it's now more than 50 percent sold even though listings for the 118 units have yet to go public). The latest head-spinner comes courtesy of The Real Deal, who reports that developer Vornado is spending $5,000 per square foot to build the Billionaires' Row blockbuster. The actual land comes out to $1,500 per foot, with the remaining $3,500 per foot going to "hard, soft and financial costs." The total sellout is close to $3 billion, and of the 59+ units that are in contract, 14 were pricier than $50 million.
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