By Dana Schulz, Thu, January 1, 2015 It’s that time of year when we take a look back at the biggest stories of the year and look ahead at what’s to come. And if 2014 was the year of the ultra-luxury listing, 2015 shows no sign of cooling down.
This past year saw major increases from 2013, with $16.8 billion in residential sales, over 17 percent of which was accounted for by purchases over $10 million. Plus, the top 25 sales of the year all closed for over $25 million. News of big sales at One57 will likely continue, with 520 Park Avenue vying for the title of most-talked-about building. We’ll also start hearing more from 30 Park Place, 432 Park Avenue, and the Woolworth Residences. To help you visualize all of these high-rolling record setters and predictions, the folks at CityRealty have put together some handy charts and infographics.
Check out the year in review and 2015 predictions here
By Dana Schulz, Wed, December 31, 2014
- Hedge fund manager Mark Brodsky, founder of Aurelius Capital Management, is probably the buyer of a $53 million pad at One57. [NYO]
- Hoboken might not be as frat-tastic as you think. [NYT]
- 17-property Williamsburg site will likely sell for $80 million. [TRD]
- Two Queens historic sites, the John Bowne House and the Old Quaker Meeting House in Flushing, might be designated national parks under a new bill signed by President Obama. [NYDN]
Images: View from One57 (L); John Bowne House (R)
By Ondel Hylton and Adam Rothstein, Mon, December 22, 2014 Well, you might want to think twice. Even though the city’s most expensive condo building is also perhaps the most written-about (even the Times has run out of ways to describe it), there are still plenty of little-known facts about the 1,005-foot-tall tower.
One57 is considered the crown jewel of what’s been dubbed “Billionaire’s Row,” and can also be credited with launching the ultra-luxury building boom. Developed by Extell‘s Gary Barnett and designed by Pritzker-winning architect Christian de Portzamparc, the sleek tower is currently the second tallest structure in the city. And that’s just the beginning.
Bone up on your One57 factoids here
By Diane Pham, Wed, December 17, 2014 There is no shortage of towers on the rise in Manhattan, but amongst these glass and stone beauties are a handful that stand head and shoulders (and several hundred feet) above the rest. A red hot real estate market and cutting edge building technology have paved the way for towers of both unprecedented heights and prices. But worthy of equal credit are the visionary developers and architects who dare to change the NYC skyline.
Here we’ve handpicked 12 of the most newsworthy buildings of 2014; these towers boast groundbreaking designs and record-breaking (or soon to be record-breaking) prices. But we ask you: Out of the dozen, which deserves the title “Building of the Year?” Cast a vote above to help us decide which is 2014’s most important tower!
Extended by popular demand… Voting ends TODAY, December 12th at 11:59 PM WEDNESDAY, December 17th at 11:59 PM and we’ll reveal the winner on Friday, December 19th. And if you’re still torn between two (or all), jump ahead for the low-down on each, from height to 2014 news highlights.
More on each of the buildings here
By Dana Schulz, Fri, December 5, 2014 Just yesterday, Bloomberg released a grim report that sales had come to a halt at One57, as only one condo unit was sold in the third quarter. But it looks like the fourth quarter might prove a bit more optimistic for the city’s most expensive building. According to city records released today, Rebecca Moores, ex-wife of John Jay Moores, entrepreneur, philanthropist, and former owner of the San Diego Padres, dropped $55.5 million on unit 81 at the building, making it the second-highest condo sale of the year, according to CityRealty. The number one spot also goes to One57 for Bill Ackman’s $90 million flip-happy purchase.
The former couple also made real estate headlines in 2013 when they listed their Del Mar, California home for $23 million, making it one of the most expensive in the San Diego area and probably the only one with its own moat. Let’s take a look, though, at Rebecca’s latest property venture at One57.
Check out the floor plan
By Diane Pham, Thu, November 13, 2014 15 Central Park West has held strong as the most expensive condo building in New York City for the last two quarters, according to CityRealty. But while perusing their latest report we were led to their dynamic CR100 building list which reveals that…. wait for it… One57 is, as we speak, the most expensive building in the city.
With an average closing price of $6,703 per square foot, this building boasts a per-square-foot premium of $286 per square foot over its predecessor, 15CPW. Units currently up for grabs also top the charts at an incredible $6,719 per square foot.
Read more
By Dana Schulz, Tue, October 28, 2014 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
By Diane Pham, Fri, October 3, 2014 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
By Ondel Hylton, Thu, October 2, 2014 It seems like every week a new residential skyscraper is being announced in New York City, just earlier this week the New York Times noted that a partnership between Steven Witkoff and Harry Macklowe is moving ahead with a redevelopment of the Park Lane Hotel at 36 Central Park West with an 850-foot tower.
With the mind-boggling amount of residential spires poised to pierce the sky, here’s a quick rundown of the tallest of the tall–the spindly bunch set to soar higher than 700 feet. Keep in mind that just 30 years ago, the tallest residence in the city was perched atop the 664-foot Trump Tower. Today, buildings are on the drawing board for more than twice that height.
See our list of the 26 tallest towers
By Lauren Price, Wed, August 13, 2014 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’
