The newest apartment houses, be it now or some 150 years ago has always been of great interest to New York buyers and renters. And like today, their appeal make sell-outs as easy as pie. From Manhattan’s very first apartment building to those that followed a decade or so later, those initial projects continue to remain the city’s most coveted digs—not to mention the city’s most expensive. But what stands out among these famous buildings as the years passed was the introduction of not-yet-available services—ranging from running water and elevators to electricity and communal amenities. Whether we are talking about the Dakota or the luxurious the Osborne Flats, learn why these century-plus-old buildings continue to enchant the rich, the famous, and the rest of us.
Just weeks after Tommy Hilfiger put his Plaza Hotel estate up for sale, another one is following suit, asking an astronomical $49.5 million, nearly triple the amount it was purchased for back in 2008. However, as ambitious as the price may be, this three-bedroom condo is pretty spectacular. The 3,413-square-foot Art Deco residence has exquisite details, 13-foot ceilings, and stellar views of Central Park—including those of the pond and Gapstow Bridge—from every major room.
- The sultan of Brunei’s interest in the Plaza was all fluff, but the landmark hotel is still up for sale. The hotel will likely fetch $2B, but any deal will be extremely complicated given the current ownership structure. [NYT]
- Post-gentrifiers are upset with the post-post-gentrifiers that have driven Williamsburg’s prices sky high. [NYT]
- The George Washington Bridge Terminal is finally getting its long-awaited facelift. The station will be closed while the $183 million upgrade is undertaken. [NYT]
- Heritage Equity Partners’ Toby Moskovits talks about his conversion of St. Vincent De Paul Church in Williamsburg into a rental building. [Crain’s]
- A profile of the top investors backing NYC’s hottest real estate tech startups. [TRD]
- Brookfield‘s SOM-designed apartment tower near Hudson Yards has a new look. [Curbed]
The Plaza Hotel, image by Luxuo (left); St. Vincent De Paul Church in Williamsburg (right)
Real Estate Wire: Are Open Plans Falling Out of Favor?; The Sultan of Brunei Is Hotel Shopping in NYC, Mon, August 18, 2014
- A developer is demanding volunteers pay $1M if they want to keep their community garden. [NYP]
- The Sultan of Brunei is hotel shopping in NYC and London and is reported to have has his eyes set on The Plaza. [WSJ]
- A campaign to build a light rail system on Staten Island has been relaunched—nearly 10 years after the idea was first pitched. [DNA Info]
- Celebrated sculptor Alexander Ney, 74, is being evicted from his home after his landlord lied to him about his rent-stabilized status. Ney’s family is frantically trying to get everything out of the apartment before officials come to seize the property. [Gothamist]
- Three contaminated Bronx properties will be cleaned up and rebuilt as affordable housing with the help of $300,000 in federal grants and loans. [Crain’s]
- Are open plans losing their appeal? Frank Lloyd Wright is rolling over in his grave right now. [NYO]
An open plan apartment at Seven Harisson (left); The Sultan of Brunei (right)
Who wouldn’t want to be able to order a juicy burger in the middle of the night and have it delivered in mere minutes? Or never have to worry about making the bed or folding sheets ever again (does anyone know how to fold the fitted sheet properly)? How about having an on-call masseuse? This is the life of living in a condo hotel.
Today, the city is teeming with these luxurious hybrids. The Residences at the Ritz Carlton in Battery Park City are home to the city’s most expensive listing at $118 million. The landmark Plaza Hotel was partially converted to 181 residences in 2008. And let’s not forget One57, the 90-story, 52-condo tower that will be the first five-star luxury hotel to rise in New York City in the last ten years. But do the vacation-worthy amenities at these buildings make them dominant in the real estate market?
The city’s most famous plazas straddle Fifth Avenue at 59th Street, and there’s a lot going on.
One of the city’s great entrances is the large marquee facing Fifth Avenue at the Plaza Hotel between 58th Street and Central Park South surmounted by five large ”outrigger” flags, at least one of which is the American flag. This past Sunday, there were two American flags, one Canadian flag, the Fairmount Hotels & Resorts flag, and the Plaza Hotel flag. The two American flags, however, were not standard and the “canton” of white stars against a blue background. These had too much blue background at the edge.
While pointing this out to the two doorman, Jarret Lazar, the manager of bell services, wandered by and expressed surprise at my observation. He said that the flags need to be changed every two or three weeks because they get ripped apart.