Via Joe Schulz on Flickr
Columbus Circle’s Time Warner Center will be renamed the Deutsche Bank Center, Commercial Observer reported on Monday. The name change comes as the Deutsche Bank inked a deal for 1.1 million square feet at the complex. The 25-year lease gives the German bank all available office space at the building except on its 20th floor.
Photo of Bourdain via Wikimedia; photo of Time Warner Center via Joe Schulz on Flickr
Anthony Bourdain’s Columbus Circle apartment has hit the rental market, nearly two months after the chef’s death. Located on the 64th floor of the Time Warner Center, the two-bedroom condo is asking $14,200/month, as first reported by TMZ. In addition to high-end condos, the building is home to CNN’s NYC headquarters, the same network that carries Bourdain’s popular Parts Unknown series.
Lincoln Square, a part of the Upper West Side, is a literal square of approximately 50 blocks that runs east-west from Central Park West to the West Side Drive and north-south from 59th to 72nd Streets. The neighborhood, which is bisected by Broadway and contains the Lincoln Center “superblock,” has an enormous amount of culture, loads of prestigious schools, tons of old-school luxury residences lining the park, and a massive, five-acre, four-building new development called Waterline Square, finalizing a decades-long master plan for the neighborhood. Ahead, we take a look at the neighborhood’s history, from its Dutch roots to Robert Moses’ slum clearance, modern residential development, and all the amenities that make this area more fun than one may think.
Your guide to Lincoln Square
There’s only one developer in New York currently tasked with building an entire city neighborhood, and that’s the Related Cos. In 2008, Related embarked on Hudson Yards, a type of project never before tackled in New York—28 acres of apartments, office space, retail, parkland (and a subway stop, to boot) on top of the West Side Railyards in Manhattan. It’s one thing to build all that on Manhattan bedrock; it’s another to build it on a platform designed to top the yards. The impressive scope of the project—considered the largest private development in U.S. history—didn’t just come out of nowhere. It’s the crowning achievement, many might say, of a development firm, and its billionaire founder Stephen Ross, after decades of building and investing in New York.
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If you think Manhattan condos are pricey, feast your eyes on the world’s most expensive dollhouse! Valued at $8.5 million, The Astolat Dollhouse Castle is a 29-room micro-mansion that’s been is filled to the brim with 10,000 painstakingly crafted miniatures that include “elaborate furniture, oil paintings, mirrors, fireplaces, gold miniature jewelry, rare-mini books more than 100 years old, fine rugs, fabrics, and pieces made of and silver and gold.” Sound too absurd to be true? Well, you can check out this pricey and petite pad up close and personal starting this month. The Shops of Columbus Circle at Time Warner Center (TWC) will be showing the dollhouse for the first time ever since it was built in the 1980s.
Find out more here
Maybe it’s the location near Lincoln Center and lots of shopping, or maybe it’s the unobstructed views of Central Park, or maybe it’s the ease of planting tons of one’s foreign cash without worry within its walls, whatever the case may be, the ultra-luxe Time Warner Center has just drawn in a record $50.92 million sale.
The owner, Russian billionaire Andrey Vavilov, listed the sprawling 14-room penthouse for $75 million early last year, then dropping the price to $68 million in November, finally landing on $51 million with a buyer known only as “Columbus Family LLC,” according to city documents filed today. As CityRealty reveals, the transaction is the highest ever recorded at the building; the runner-up, incidentally, the same unit, which traded hands last in 2009 between Vavilov and Austrian investor Gerhard Andlinger for $37.5 million.
Have a closer look inside
Amidst rumors that Ben Affleck and wife Jennifer Garner are heading to splitsville, the Post now reports that Affleck is on the hunt for a NYC pad. The actor was spotted scoping out a duplex condo at the Time Warner Center at 25 Columbus Circle, currently priced at $24.995 million. The home was originally listed at $50 million last year, the Post writes, then popping back on the market early in January at almost half the price at $28 million. With 3,582 square feet at his disposal, this sprawling unit most definitely offers more than enough room for the actor and family to stretch out in, plus or minus Garner.
Let’s have a look inside
The Time Warner Center
We’ve been talking a lot lately about foreign investors with their hands in the NYC real estate market, but a story in the Times took the investigating one step further by uncovering the secrecy of more than 200 shell companies at the Time Warner Center, documenting “a decade of ownership in this iconic Manhattan way station for global money transforming the city’s real estate market.” Though most of these were simply wealthy Americans, at least 16 were rich foreigners who “have been the subject of government inquiries around the world, either personally or as heads of companies,” ranging from environmental violations to financial fraud.
In 2014, around 50 percent of all $5 million+ sales were to shell companies, but at the Time Warner Center it was 80 percent. With this growing trend, however, the government hasn’t taken a closer look at the money being used to buy luxury real estate, allowing shell companies to make the movement of foreign funds largely untraceable.
Find out more about Mr. Low and this real estate trend
, Thu, September 18, 2014
Decisions, decisions…sometimes there’s just far too many in New York City. Thai or Chinese takeout? Subway or bus? Central Park or the High Line? The list goes on. And one of the most grueling decisions we make as New Yorkers is where to live. From choosing a borough and neighborhood to deciding on a price point, it’s quite the undertaking. But what about the most elementary component of the building in which we decide to live–it’s material. To be more exact, glass or stone.
Glass tower dwellers are often drawn to the floor-to-ceiling windows, panoramic views, and clean lines, whereas buyers of apartments in stone buildings prefer a more traditional feel, with pre-war-style layouts that provide great separation of spaces. And some of the city’s most prominent architects have become synonymous with one style or the other. Think Richard Meier for glass and Robert A.M. Stern for stone. CityRealty decided to take a closer look at this epic battle and see how pairs of glass and stone developments fared across the city.
See how these buildings battle it out
, Thu, September 11, 2014
Founded in 1972 by former tax attorney Stephen Ross, the Related Companies got its start securing funding for affordable housing upstate. Before long, the company moved to New York City, bringing affordable units to Battery Park City and the Upper East Side. When the boom years of the 1990’s hit, Related got involved with luxury development, beginning with the renovation and conversion of an historic Beaux Arts building at Union Square into the W Hotel and then the development of 1 Union Square South.
Today, the Related name is attached to some of today’s biggest and most high profile projects, including One Madison and Hudson Yards. And with more than $15 billion in assets, the company is New York’s leading real estate developer.
We take a closer look at Related’s high-end portfolio