Most ideas usually end up in the trash but few ideas are inspired by the basket that holds them. A recent discovery by The Real Deal has revealed that the city’s residential tower-of the-moment, 432 Park Avenue, was actually inspired by a Josef Hoffmann-designed wastebasket released in 1905. The revelation came via a talk held last December at the Cornell Center for Real Estate and Finance where Harry Macklowe, the co-developer of the supertall, told the crowd that the repository was an “important touchstone” for the 1,396-foot-high design.
The Real Deal reports that Saudi billionaire and retail magnate Fawaz Al Hokair is the buyer of the $95 million penthouse at 432 Park, the city’s current tallest residential building. The unit went into contract in 2013 for roughly $11,500 per square foot, but sources are just now coming out with his identity. Al Hokair is the founder and chairman of Fawaz Alhokair Group, the most valuable retail and real estate company in Saudi Arabia. Forbes estimates the company is worth $22 billion, and that Al Hokair’s net worth is $1.37 billion.
When the deal closes it will be the second most expensive condo sale ever in the city, stealing the title from Bill Ackman’s $91.5 million buy at One57 and following only behind the $100 million penthouse sale, also at One57.
Look out—not up—because there’s a new low-rise Rafael Vinoly-designed building coming our way. The architect mastermind behind the city’s tallest residential tower, 432 Park Avenue, has just been chosen to design a comparatively demure ten-story office-and-retail building in the Meatpacking District, reports The Real Deal. The new addition is being developed by Vornado Realty Trust and Aurora Capital Associates and is located on the former site of Prince Lumber at 61 Ninth Avenue. No design details have emerged thus far, but the building will come with 123,000 square feet of space with retail at its first two floors and office space above. And given its position just a block from the High Line, something starchitecturally audacious wouldn’t be totally out of order.
- Get more Rafael Vinoly news here
- The Meatpacking District: From the Original Farmers’ Market to High-End Fashion Scene
Image © dbox
We’ve all seen more than our fair share of 432 Park Avenue‘s facade around town, but finally here comes an opportunity to get inside the building. The Storefront for Art and Architecture has just announced that the Viñoly supertall will be the site of their 2015 spring benefit, TRANS. The gala, being held Tuesday, April 21st, 2015, will be the first public event hosted at the unopened building, and by the looks of the program, it also promises to be as starchitect-studded and “transcendent” as these things get.
NYC supertalls all over town are weeping: 432 Park Avenue is officially the tallest residential building in the city as of today, topping out at 1,396 feet, and the second-tallest tower after One World Trade Center. Concrete on the highest floor of the Rafael Viñoly-designed building is being poured, probably as we speak, cementing (no pun intended) the residential tower’s place as not only the tallest in NYC, but in the entire western hemisphere. And though One WTC reaches 1,776 feet, 408 feet is accounted by its spire. So, when you only count its roof height, it’s actually 28 feet lower than 432 Park. The tower will open next year, and it’s already seeing groundbreaking sales, including that of the $95 million penthouse.
Photo via DBOX
- Brazil’s top hotelier is looking to make his mark on 57th Street. Billionaire Rogerio Fasano is in talks to have starchitect Rafael Vinoly design the building. [NYDN]
- It ain’t easy being green: Vogue contributing editor Lauren Santo Domingo, and her Colombian billionaire beer heir husband, have neighbors up in arms over the noise they’re making trying to dig a geothermal well beneath their Gramercy townhouse. [DNA Info]
- The plan to green a downtrodden triangle flanked by Chambers, West Broadway and Reade Street was revealed last night. [Tribeca Citizen]
- As previously predicted, with new units on the market, Brooklyn’s 14-month streak of rising rental prices ended in August. [TRD]
- The Port Authority of New York and New Jersey is ready to take new for proposals from developers, hotel investors or others interested in converting the Eero Saarinen-designed TWA terminal at JFK into an airport hotel. [WSJ]
TWA Terminal (left); Bogardus Park in Tribeca (right)
The latest in the world of New York City supertalls comes to us from New York YIMBY, who has revealed renderings for the Rafael Viñoly-designed 125 Greenwich Street. At 1,356 feet, it will become Downtown’s tallest residential tower, the first to rival the 57th Street skyscrapers like Extell’s planned Nordstrom Tower, which will rise 1,479 feet. It will also be just 12 feet shy of One World Trade Center’s roof, making it the second tallest skyscraper in the Financial District.
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.
There are skyscrapers going up left and right all over Manhattan, and in the race to build the loftiest and the glassiest, big name developers are seeking out even bigger name architects to brand their supertalls with iconic designs. As part of their ongoing Palaces for the People: Guastavino and the Art of Structural Tile series, the Museum of the City of New York will be hosting what’s sure to be a riveting panel in which several of the world’s leading architects and engineers will be discussing how they approach the design and construction challenges that come with building 100 stories and up.
The City Council’s Committee on Land Use gave approval to Rockefeller University’s plan to construct two new buildings over the Franklin D. Roosevelt Drive on Manhattan’s east side. In exchange, the school, which controls air rights over the 4-block stretch starting at East 64th, has agreed to invest $8 million to develop and maintain a portion of the East River Esplanade.