One57

Central Park South, Cool Listings, Midtown West

Sure, Michael Dell has bragging rights to buying One57‘s $100 million penthouse, the most expensive home ever sold in New York City, but Bill Ackman’s $91.5 million buy a few floors down came with a coveted terrace. Only two units in the Billionaires’ Row building claim “private outdoor space on the park,” and the second has just come on the market for the first time, asking $28.5 million. Dubbed the Spring Garden Residence (as opposed to Ackman’s “Winter Garden Penthouse,” as Curbed notes), the 41st- and 42nd-floor duplex boasts a 43-foot-long great room wrapped in floor-to-ceiling windows that lead to a 671-foot solarium and a terrace with views of the park and skyline.

Take a tour

Cool Listings, Midtown West

6sqft reported back in October that an 85th-floor unit in the building known for the city’s most expensive residential sale ever was back on the market after a total overhaul for a noteworthy $70 million. The 6,240-square-foot condominium was purchased by Canadian billionaire Lawrence Stroll for $55.6 million in 2014. After four months, the sprawling sky mansion has been discounted by $11 million according to Mansion Global; the building’s third-highest listing is now asking $59 million.

The view is just as good at $59 million

Manhattan, Midtown, real estate trends

432 park, 432 park avenue, rafael vinoly, 432 park lighting design

432 Park Avenue via CIM Group/Macklowe Properties

The buyer of One57’s $100 million penthouse was unveiled as Michael Dell last week, finally solving the mystery of which billionaire set New York City’s record for the most expensive home ever sold. The reveal sparked CityRealty’s interest in finding out where other costly buildings fall in comparison. Unsurprisingly, Midtown’s One57 and 432 Park make up 12 out of the city’s 20 priciest homes ever sold with single units going for $100.47 million and $91.5 million, respectively. While those two buildings on Billionaires’ Row easily take the top three spots, 15 Central Park West ranks fourth, with its $88 million penthouse sold in 2012.

More this way

Central Park South, Midtown, Recent Sales

Image courtesy of Extell/One57

Founder and CEO of Dell Technologies, Michael Dell, was revealed as the buyer of the sprawling penthouse at One57 for $100.47 million, the most expensive home ever sold in New York City. According to the Wall Street Journal, Dell first entered a contract to buy the unit in 2012 when the Billionaires’ Row building, located at 157 West 57th Street, was still under construction. He closed the transaction through a limited liability company in 2014.

Get the details

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.

Read on

affordable housing, housing lotteries, Lower East Side

229 Cherry Street, Extell Development, Dattner Architects

Rendering of 229 Cherry Street, via Extell Development

The housing lottery for Extell Development’s affordable housing building in the Lower East Side has officially launched. The 13-story development at 229 Cherry Street and sits right next to the group’s amenity-filled, luxury condo, One Manhattan Square. Designed by Dattner Architects, residents at 229 Cherry Street will have access to a landscaped terrace, fitness center and a lounge. Qualifying New Yorkers earning 60 percent of the area median income can apply for $947 per month studios, $1,017 per month one-bedrooms and $1,230 per month two-bedrooms.

Find out if you qualify

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

Cool Listings, Interiors, Midtown West

Here’s your chance to live in an iconic unit of the super-luxury Midtown tower One57 at a relative discount. According to CityRealty, the “usual” average price per square foot for an apartment at the building is $6,120—but this four-bedroom, four-and-a-half bath pad is asking $13.9 million at a price of $3,742 per square foot. It’s also located right under the skyscraper’s distinctive arched-glass walls at both the top and middle of the tower.

Take a look

Midtown West, People

rent stabilization, One57, Extell, Christian de Portzamparc

When hedge fund manager Bill Ackman closed on a $91.5 million penthouse at One57 in April 2015, he had already boasted that he had no intention of ever living in the place, but that he’d host parties there and eventually flip it as a “fun” investment. It seems that over the past year and a half, Ackman, whose net worth is estimated at $1.6 billion, has gotten even more optimistic, as a source close to him told Vanity Fair that he thinks he’ll be able to sell the 13,500-square-foot duplex for $500 million. As The Real Deal notes, this claim comes despite the fact that other units in the building have been recently listed at a loss and that his fund Pershing Square Capital is down to $11.4 billion under management from $20 billion in March of 2015.

More on this ahead

Central Park South, Midtown, New Developments

140 West 57th Street, Billionaires' Row, Feil Organization

Recent reports that the luxury housing market is slowing down may soon be dismissing Billionaires’ Row, where several sites are in question to add to the strip’s uber-high end array of residential offerings. The latest is at 140 West 57th Street, the Feil Organization’s office tower right across from One57. The Post tells us that leases are not being renewed for tenants in the 14-story, landmarked building, where the developer “is said to have already drawn up floor plans for apartments.”

The full story ahead

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