Billionaires’ Row

Midtown West, Policy

Image © 6sqft

Mayor Bill de Blasio plans to open a new homeless shelter for 150 single adult men on Manhattan’s Billionaires’ Row, part of the city’s initiative to open 90 new shelters over the next five years. According to the New York Post, a former hotel at 158 West 58th Street, the Park Savoy, will be converted into the shelter and open in March. The Central Park South building sits behind One57, a supertall known for the city’s most expensive residential sale ever: a penthouse that sold for $100 million in 2015.

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Architecture, condos, Construction Update, Major Developments, Midtown

Central Park Tower, Extell

Rendering courtesy of Extell

The 1,550-foot Central Park Tower, the soon-to-be tallest residential tower in New York City, has gotten some new renderings that reveal how it’ll appear lit up at night, as well as how its interiors may look (h/t YIMBY). Extell Development’s current plans for the Billionaires’ Row tower call for 179 condominiums, spanning on average 5,000 square feet, with open layouts and oversized windows overlooking Central Park. With the construction of the supertall at 217 West 57th Street now hitting its halfway mark and rising to roughly 700 feet, Central Park Tower is expected to be completed in 2019.

See inside the supertall

condos, Design, Manhattan, Midtown West

Penthouse rendering courtesy of Aman Resorts

Floor plans of the Crown Building’s crown jewel, its five-story penthouse, have revealed what $100 million will buy you at one of the city’s most desirable locations for the super-rich. As the Real Deal learned, the penthouse features two swimming pools, a piano lounge and a full-floor master suite. The 14,000-square-foot pad sits in the actual crown of the building, spanning floors 22-26. The rest of the Billionaires’ Row building at 730 Fifth Avenue isn’t too shabby either; the building includes an 83-key luxury Aman Resorts hotel with a three-story spa, a jazz and cigar club, a few restaurants and 20 luxury condos.

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Midtown West, real estate trends

ONE57 tower new york christian de portzamparc

Image © Wade Zimmerman courtesy of Agence Christian de Portzamparc (ACDP)

A full-floor, 6,240-square-foot penthouse at Midtown billionaires’ bunker One57 recently sold to an unidentified high bidder–one of five contenders–at a foreclosure auction for $36 million. That number is 29 percent lower than the original $50.9 million price shelled out by Nigerian businessman Kolawole Akanni Aluko for the newly-minted condo in 2014. The fire sale was the fourth resale in the 1,004-foot-tall Billionaire’s Row flagship trophy tower to trade at a loss, according to data from appraiser Miller Samuel Inc., reports Bloomberg. The latest example is the largest discount to date on one of the pricey properties, all of which sends a message to buyers with plans to cash in on the ultra-luxury units in short order. And there are currently 16 apartments at the building listed for sale, most of them by the developer.

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Midtown West, New Developments

Penthouse rendering (Aman Resorts)

Taking its name from an elaborate pyramid-shaped crown, the Crown Building at Fifth Avenue and 57th Street has been described as one of the city’s most desirable retail locations. Michael Shvo and Russian developer Vladislav Doronin bought the non-retail upper floors of 730 Fifth Avenue in 2015 and filed plans to redevelop the Billionaires’ Row property, and new details have been revealed, CityRealty reports. An 83-key luxury hotel with a three-story spa, a members-only lounge, a jazz club and cigar bar and two restaurants will start on the fourth floor. Above the hotel, 20 luxury condominiums known as Aman New York Residences will start on the 11th floor. The building’s crown jewel will be a 14,000 square-foot five-story penthouse on floors 22-26 asking $100 million.

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Architecture, Design, Midtown, New Developments

7 West 57th Street, billionaires' row, 57th street

Rendering of 7 West 57th Street found at its construction site, via CityRealty

As Billionaires’ Row on Manhattan’s West 57th Street continues to grow with supertall towers, developer Sheldon Solow plans on constructing a more modest addition to the block. New renderings of the boutique condo at 7 West 57th Street, designed by Hill West, reveal a 19-floor building with an unassuming glass facade and a convex face, as CityRealty learned. The tower plays off of Solow’s concave tower next door at 9 West 57th Street.

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condos, Green Design, Landscape Architecture, Midtown, New Developments

central park tower, extell development, hmwhite

Central Park Tower, New York City’s future tallest residential skyscraper, is getting a more down-to-earth design. As CityRealty learned, the supertall at 225 West 57th Street on Billionaires’ Row will feature a sprawling landscaped space designed by HMWhite. The firm’s terrace design includes both passive and active recreational areas, like a central open lawn and a sequence of complimentary garden rooms. Renderings of the projected 1,550-foot tall tower reveal a lap pool overlooking West 57th Street and a sun deck among pergolas and trellises.

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Cool Listings, Midtown West

In the building known for the city’s most expensive residential sale ever (a dizzying duplex on the 89th and 90th floors of the iconic skyscraper at 157 West 57th Street whose $100 million sale closed in 2014), big-ticket buys hardly turn heads. But that same year, the headline-grabbing supertall saw its third most expensive unit change hands when Canadian investor and Ferrari collector Lawrence Stroll dropped $55.6 million on a 6,240-square-foot 85th-floor home in the building’s tower. Now he’s put the full-floor pad back on the market for an even more noteworthy $70 million. According to the listing, the apartment had a complete renovation even in its short lifetime–and clearly, Stroll, worth an estimated $2.4 billion spared no expense, including woven suede walls, a sculptural wall by artist Peter Lane, and a double-sided marble fireplace.

Get a look at this big bank account in the sky this way

Architecture, Central Park South, condos, New Developments, Starchitecture

111 West 57th Street, terra cotta, SHoP Architects, BKSK, skyscraper, skylines, JDS Development, WSP (1)

The construction of Property Markets Group and JDS Development’s 1,421-foot-tall tower at 111 West 57th Street has been the subject of much anticipation and excitement, as it’s slated to be among the tallest residential skyscrapers anywhere and the world’s most slender with a height-to-width ratio of 24:1. But after rising only 20 stories, the SHoP Architects-designed Billionaires’ Row addition has stalled, plagued with budget overruns and headed for foreclosure, the New York Post reports.

What could possibly have happened?

condos, Midtown, New Developments

Central Park Tower renderings (Extell / AS+GG)

We expected that Central Park Tower, the city’s tallest-tower-to-be swiftly rising at 225 West 57th Street, would be giving Midtown record-smashers like 432 Park Avenue a run for their trophy-tower money. And now newly-revealed details uncovered from the building’s EB-5 brochure offer a first glimpse of what the upcoming supertall’s rivals could be up against. The preliminary overseas marketing images spotted by CityRealty show off the 1,550-foot-tall building’s apartment layouts and the ultra-luxe amenity spaces that will sit high above the hotel and Nordstrom, the building’s flagship retail tenant. Developer Gary Barnett’s new condo development is the most expensive ever attempted in the city and is projecting a $4 billion sellout including retail and hotel tenants.

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