157 West 57th Street

Midtown, Recent Sales

rent stabilization, One57, Extell, Christian de Portzamparc

Expect another blockbuster year for the super-luxury tower that launched a slew of other wannabe developments across the city. A palatial unit occupying the 89th and 90th floor of One57 has just sold for a record-breaking $100,471,452.77—the most expensive condo purchase ever recorded Manhattan. The buyer of the massive 10,923-square-foot penthouse apartment remains a mystery—city records simply show an LLC called “P89-90” (very apropos)—but as these things go, all bets are that he, or she, belongs to the billionaire’s club.

Up next? Eyes are on the closing of the building’s penthouse to hedge-funder Bill Ackman.

[Related: So You Think You Know Everything About One57?]

[More on One57 at CityRealty]

Major Developments, Midtown West, real estate trends

One57, 157 West 57th Street, One57 penthouse, Bill Ackman

One57 and the view from the $90 million penthouse

It’s true that One57′s first flip saw a $3.5 million profit in just five months, but that unit sold for $34 million the second time around. A selling price of more than $90 million is a different story–and that’s exactly what hedge fund manager William (Bill) Ackman is hoping to achieve.

In a profile in the Times on Sunday, Ackman was revealed as the buyer of the $90 million penthouse at the luxury building, which is sure to see its share of flips. But he also shared that he has no intention of ever living in the apartment. He’ll stay with his wife and daughters at their current home in the Beresford and use the penthouse as a “fun” investment opportunity for himself and some good friends, perhaps hosting a few parties there in the meantime.

More on the planned flip here

Midtown, Recent Sales

The first of what’s sure to be many flips at One57 has just netted its seller a respectable $3.45 million profit, just five months after its purchase. According to NYDN, the former owner, Investor Sso Enterprises, paid $30.55 million for the 58th-floor three-bedroom back in May, now selling it off for $34 million to hedge fund manager Harvey Sandler and his wife.

Inside the massive apartment

Featured Story

Features, Major Developments, New Developments, real estate trends, Starchitecture

the plaza hotel entrance, the plaza hotel curb

Great neighborhood? Check. Great apartment? Check. Curb appeal?

Killer first impressions can be long lasting — and whether it’s a newly advertised flavor of Ben & Jerry’s, an ad for Tory Burch’s latest shoe collection —or finding new digs, “love at first sight” spot-on marketing moments play a sizeable role in how we make our decisions.

Industry experts note that a large percentage of a house hunter’s decision to explore a property further than the curb is based the project’s “wow” factor. Truth is, it sets the “perception” stage of what’s to come beyond a grand entrance or swanky lobby that was designed to provide a sense of arrival and belonging. Obviously, at the end of the day, a building’s outside will only persuade potential buyers to see more, and first impressions can vary from one individual to the next, but the “I was meant to live here” moment is fairly universal.

How a building’s design tugs at your desire to ‘be someone’

SIGN UP FOR OUR NEWSLETTERS

Thank you, your sign-up request was successful!
This email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.