New York PostOctober 31, 2012
77 Hudson St.
Two-bedroom, one-bath full-floor loft, 1,700 square feet, with open kitchen, original wood beams, master suite, washer/dryer, central AC and keyed-elevator access. Common charges $1,048, taxes $414, Asking price $1,999,000, on market 24 weeks. Broker: Ryan Fitzpatrick, Core
New York MagazineOctober 29, 2012
Sackett Union, 291 Union Street, Cobble Hill
Price: $1.85 Million
This long-gestating project has finally made it to market: a 32-unit condo with a mix of two- to four-bedrooms, plus attached townhouses with dedicated parking spots. Sales began in late August, and 22 deals are already signed.
Sample unit: 5A
Details: A 1,823-square-foot, three-bedroom, three-bath duplex with a washer and dryer, parking space, and terrace.
Brokers: Wendy Triffon and Jill Preschel, Alchemy Properties
5 West, 5 West 127th Street
This building’s thirteen units went on the market in July, and twelve have sold, perhaps reflecting condo buyers’ push northward to less expensive territory. The amenity list helps: gym and bike storage, and outdoor space for a lot of apartments.
Sample unit: 1B
Details: An 840-square-foot one-bedroom, one-and-a-half-bath duplex with a private, 725-square-foot planted garden.
Brokers: Jeff Krantz and Kristin Krantz, Halstead Property
Chelsea Green, 151 West 21st Street
Price: $2.7 Million
The glassy façade tops an unusual lobby with neo-Baroque window screens, and the kitchens were co-designed by Le Bernardin chef Eric Ripert. Developers of this ecofriendly project—it’s certified LEED gold—have sold most of the 51 units from floor plans, but three remain available.
Sample unit: 11B
Details: A 1,534-square-foot, two-bedroom, two-bath with a flexible layout and three exposures.
Brokers: Corcoran Sunshine Marketing
268–270 St. Marks Avenue, Prospect Heights
Price: $1.1 Million
Actually a pair of separate, side-by-side buildings, altogether containing just six units. Layouts are generous, in excess of 1,400 square feet with eleven-foot ceilings. Appliances are Bosch, floors are white oak, and—this being Brooklyn—every apartment gets its own bike-storage space. Sales officially begin next year.
Sample unit: Apt. 2
Details: A 1,400-square-foot three-bedroom plus a home office with two baths and a garden.
Broker: Aguayo Realty Group
345 Meatpacking, 345 West 14th Street Price: $1.725 Million
Smack in the middle of its namesake district’s central intersection, 345 distinguished itself this summer with a clever eye-catcher: construction netting designed by the artist Yayoi Kusama. The glassed-in section atop the brick façade is framed in bronze.
Sample unit: 2D
A one-bedroom plus den (or office) with two full baths and a private, 311-square-foot terrace.
Broker: Corcoran Sunshine Marketing
122 Adelphi Street, Fort Greene
The developer spent extra time and money on details like snazzy floors, extra-high ceilings, superior kitchen finishes, and special wood-framed soundproof windows. A fifteen-year tax abatement will keep common charges down.
Sample unit: 1A
Details: A 440-square-foot studio with oak floors and Bosch appliances.
Brokers: Ellen Whipple and Patricia Benna, Dwelling Group
200 East 79th Street
Price: $7.35 Million
When it’s finished, this condo will reach nineteen stories and contain 39 large apartments. Details are fairly conservative (cast-stone façade, “contemporary classic” detailing). Prices range from $3.155 million for a three-bedroom to the blockbuster listed below.
Sample unit: 11A
Details: A 4,187-square-foot five-bedroom with five and a half baths.
Broker: Alexa Lambert, Stribling Marketing Associates
One Murray Park, 11-25 45th Avenue, Long Island City
This building meets the slick new Long Island City standard, with its own gym, underground parking, pet-washing area, and residents library. It was priced conservatively at first—but (after multiple increases) the developer recently rejected an offer of $815 per square foot.
Sample unit: Apt. 2I
Details: A 529-square-foot studio with a 450-square-foot terrace.
Broker: Doron Zwickel, CORE NYC
CurbedOctober 25, 2012
Rockrose gets most of the credit for the redevelopment of Long Island City's Court Square, and the developer does have a number of projects going up in the neighborhood. So do several other developers! The Post has a fairly thorough roundup of the microhood's new residential projects, and we've mapped them below, in the second installment of our microhood maps series. Got a microhood for us to investigate? Let us know in comments or via the tipline.
New York PostOctober 25, 2012
Williamsburg, Brooklyn $839,000
Bedrooms: 1 Bathrooms: 1 Square feet: 873
Common charges: $786
With a 24-hour concierge, “manicured” sculpture courtyard and two roof decks, this North 10th Street boutique building is as fancy as what you’ll find in Manhattan. And this condo — with 10-foot ceilings, a kitchen with “recycled glass” counters and a soaking tub in the “well-appointed” bathroom — comes with a parking space. Agents: Doug Bowen and Win Brown, Core, 646-247-0822 and 212-500-2119
Real Estate WeeklyOctober 25, 2012
CetraRuddy is working on the conversion of Walker Tower at 212 West 18th Street in New York City.
The architect is repositioning the 1929 Art Deco treasure originally designed for commercial purposes by the American architect Ralph Walker into a high-end luxury condominium scheduled for completion early next year.
CetraRuddy’s approach to the exterior included the restoration of the original structure as well as the integration of new fabric at several levels.
“Our challenge for the conversion of Walker Tower was to reflect the history and bones of this exquisite pre-war building while creating intelligent living spaces that appeal to contemporary home buyers,” said John Cetra, founding principal of CetraRuddy. “In addition to creating smart floor plans, we sought to maximize daylight and views, creating a new Art Deco character.”
For new masonry elements, CetraRuddy implemented a four-color blend of bricks to simulate the original palette. The bricks were made in custom shapes to create formal geometries similar to those found in the original building.
Additionally, CetraRuddy added windows that span between piers and enlarged all existing openings to create floor-to-ceiling windows.
Intricately faceted multi-story stainless steel pilasters, tinted in a bronze color, are set between window openings and existing masonry piers at various setback levels.
Spandrel panels were custom fabricated out of built-up aluminum sections and finished to emulate the nickel silver detailing found in the building’s entrance.
The integration of these elements required that the design team create a level of detail not seen in new construction in New York in over 70 years.
Walker’s original design concept included an ornamental crown that was never built. In tribute to Walker’s vision, CetraRuddy designed a crown, using a two-toned metal palette to emulate the original statuary bronze and nickel silver, Art Deco motifs found at the building’s entrance and lobby.
Walker Tower is a development of JDS Development Group in partnership with Property Markets Group.
New York PostOctober 25, 2012
Think of it as a miniature Midtown Manhattan. In Court Square, the Long Island City neighborhood that encircles the Citibank tower in Queens, the buildings are tall and glassy. The streets are wide and swarming with cars, the subways abundant and the business district bustling.
And that’s just the beginning.
The next few years will see thousands of new residential units, most of them rentals, at discounts to Manhattan. And it all will be one stop away from Midtown on the M or the E — an easier commute than from most of Manhattan.
“Renters are transportation-hungry, and the transportation in Long Island City is unparalleled,” says Justin Elghanayan, president of Rockrose Development.
He is so convinced of the area’s potential demand for rentals that three years ago he scrapped plans for an office tower at 43-25 Hunter St. and reconceived the project as 1,000 rental units. This is just one of the investments his firm has in the Court Square area.
Rockrose’s grand plans include 709 rentals at the 42-story Linc LIC at 43-10 Crescent St., which is already topped out and will start leasing in spring. A 14,000-square-foot supermarket in the base of the building could open a few months after. Across the street is Rockrose’s aforementioned 1,000-rental project, which will include one or two buildings. And to come is a lower-rise, 100-unit building that could be rentals or condos.
On Purves Street, the Vista’s 48 condo units are selling fast. “We released eight units to test out the market and sold them all in the first 25 minutes,” says Eric Benaim, president and CEO of Modern Spaces, which is marketing the project.
The Criterion Group has plans for two 100-plus-unit rental buildings also on Purves. And Ekstein Development has three buildings in the works: 98 rentals (80 percent market rate, 20 percent affordable) in partnership with L+M at 26-14 Jackson Ave.; 59 rentals (also 80/20) at 46-09 11th St.; and 106 rentals at 44th Drive and 11th Street.
“We love Long Island City,” says Erik Ekstein, president of Ekstein Development. “We’ve seen the growth of the rental rates continue to climb. Vacancy is close to zero.”
Brokers and developers cite singles and young professionals from Manhattan and from deeper in Queens as the demographic in Court Square. The area has a different feel from the Long Island City waterfront, where sky-high residential buildings, park space and a lack of through-traffic calls to mind Battery Park City.
“The waterfront has attracted a lot of families. We’re more for singles or shares or maybe newlyweds,” Ekstein says.
“I considered living by the water, but transportation was huge [for me] — there are seven subway lines within two blocks of my apartment,” says Elka Gruenberg, who moved into 42-51 Hunter St., a 24-unit condo building two blocks from the Court Square station.
“And something about this area felt more authentically New York — all the small businesses.”
As evidence she points to LIC Market, a buzzworthy restaurant and wine bar; Sage General Store, which serves home-style cooking; and
Dutch Kills, a cocktail joint from mixology maven Sasha Petraske.
Elghanayan says that one of Rockrose’s goals is to preserve and even foster that authentic neighborhood feel.
Its 1,000-unit project will have 30,000 square feet of retail divided into small spaces for boutiques. It’s saving an auto-body shop, which will be leased to M Wells, a Long Island City dining hot spot that was priced out of its original location last year. (M Wells now has an outpost at MoMA PS1.) And before its smaller project comes to fruition, Rockrose plans on taking a page out of Douglaston
Development’s book and inviting food trucks to park in the lot a la Smorgasburg in Williamsburg.
“It’s an area that is developing. It will eventually be just like Downtown Brooklyn,” says David Maundrell, president of Aptsandlofts.com, which is leasing 142 units at 27 on 27th at 27-03 42nd Road.
There, studios start at $1,900 a month, one-bedrooms at $2,400 and two-bedrooms at $3,100. Prices are net effective.
At Linc LIC, studios and one-bedrooms are priced the same as at 27 on 27th, with two-bedrooms starting at $3,350.
Not cheap but par for the neighborhood and, according to Elghanayan, 20 to 25 percent off Manhattan prices.
Condos too offer a discount on Manhattan prices.
“I had my heart set on Gramercy, Union Square, anything below 23rd Street,” says Nicole Mynarski. “I looked for over a year. Everything was in the high $600,000s to $700,000s and needed a lot of work. Add in taxes and maintenance, and it was ridiculous.”
In One Murray Park, a 45-unit new condo building at 11-25 45th Ave., Mynarski found a 720-square-foot one-bedroom with an 850-square-foot terrace for $550,000.
“You’d never find the same thing for under a million in Manhattan,” she says.
Where Condos Are as Rare as T-Bones
The New York TimesOctober 25, 2012
IT’S probably not a great idea to come to Manhattan’s meatpacking district in search of meat.
Just five distributors of prime rib and pork chops still stand at the end of West 14th Street, while a decade ago, that number was 75, according to the Meatpacking District Improvement Association, a business group.
The area does have stylish restaurants, hotels and boutiques, which have helped it become a pulsing round-the-clock destination for locals and tourists. But new apartments are as hard to come by as T-bones.
Running roughly from Gansevoort to 14th Street, from Hudson Street to 10th Avenue, the district is still zoned for manufacturing, which means new homes typically aren’t allowed. And in 2003, the area was declared a landmark anyway, meaning that if condominiums are there at all, they tend to be found along the edges.
Finding a way to join the party, then, is no small feat, which is what’s so notable about 345meatpacking, a new 12-story condo.
Developed by DDG Partners at 345 West 14th Street near Ninth Avenue, the building has 37 units, ranging from a 690-square-foot one-bedroom to a 2,100-square-foot three-bedroom. The site of the building, which has been vacant since 2006, falls outside both the manufacturing and landmark zones.
Five of those units are called penthouses, including one with 3,750 square feet of interior space and a 1,930-square-foot two-level terrace.
The finishes seem to have been carefully chosen with an eye to differentiating the spaces. Vestibule walls are made of “board-formed” concrete, which contains traces of the whorls and knots from wood pressed against it when wet.
Thin gray bricks from Denmark are used for terraces; Moroccan tile gleams in guest bathrooms. DDG, a three-year-old local firm that previously developed NoHo’s 41 Bond and uses its own architects, chose bronze for elevator doors.
To mute late-night revelry, walls and windows are thicker than normal, said Joseph McMillan, DDG’s chief executive. “The units will be extremely quiet,” said Mr. McMillan on a recent tour. In the distance loomed the Hotel Gansevoort, whose rooftop pool is a huge draw for revelers in warm weather. “The wind usually goes that way anyway,” he said jokingly, sweeping his hand away from his condo.
Prices, which were approved by the state this month, average about $2,100 a square foot, though less expensive units are available. Indeed, one-bedrooms in the back of the building, which faces an older brick apartment, start at $1.05 million, or about $1,500 a foot; two-bedrooms start at about $2 million. Sales started two weeks ago.
An artsy, international-themed décor is expected. For months, the building’s scaffolding was wrapped in mesh with a swirling gold-and-gray polka-dot pattern stretching to a height of 120 feet and visible for blocks, including from the High Line park.
The unusual public art was based on a painting called “Yellow Trees” by the Japanese artist Yayoi Kusama, who had a recent exhibit at the Whitney Museum. Besides honoring an effort by the city to prettify construction sites, the art helped call attention to the Whitney’s new meatpacking district space, which is set to open on Gansevoort Street in 2015.
The art, which is owned by DDG, was removed in October after a two-month run; it is being stored in a warehouse with its future under discussion, Mr. McMillan said.
And the completion of 345meatpacking next spring will close the chapter on a troubled history.
Formerly the home of a bicycle shop and the Chelsea Day School, the site had been eyed during the boom for a hotel by a group of investors who included the hip-hop star Jay Z and the hotelier André Balazs. But they ultimately ceded control of the property to their lender, CapitalSource Finance, before any construction had begun.
In 2010, DDG bought the mortgage note from CapitalSource for a discount, though Mr. McMillan would not disclose the exact amount or the condo’s development cost. A CapitalSource spokesman did not return a call for comment.
To speed along the construction, DDG opted to use the building permits already allotted, which called for renovating the three-story brick structure on the site, instead of razing it and building anew. So, under building department rules concerning renovations, DDG has preserved half of the old building’s exterior walls, though those remnants are not very noticeable.
A few years ago, before the neighborhood became one of Manhattan’s most fashionable, 345meatpacking’s $2,100-per-foot pricing might have seemed high for the area, says Tony Sargent, a broker at the CORE Group who has sold there for a decade.
In fact, Mr. Sargent is listing a two-bedroom at the Porter House, at 66 Ninth Avenue, another rare condo, whose 22 units were completed in 2003. With two and a half baths and 1,740 square feet of space, the unit is listed at $3.75 million, or about $2,200 a foot. And that’s a resale price, Mr. Sargent noted, adding that the seller added double-paned windows to reduce street noise.
Similarly new developments nearby include the Prime, at 333 West 14th Street, a nine-unit condo completed in 2009, and the Caledonia, a huge condo-rental combination, developed by the Related Companies and Taconic Investment Partners on West 17th Street next to the High Line.
But even those who live elsewhere — in, say, Chelsea and the West Village — come to hang out, Mr. Sargent said, explaining that the district has “united together this whole area, and become a real neighborhood.”
New York PostOctober 24, 2012
Last year, the New York City real estate market set a previously unthinkable record: Sandy Weill’s 6,744-square-foot, four-bedroom, four-plus bathroom condo at 15 Central Park West sold for $88 million, roughly $13,000 per square foot.
But in this ever-frothy real estate market, it was a record that wasn’t meant to last. “There’s never been another year like 2012 when it comes to $50 million-plus listings and sales,” says Kelly Mack, president of Corcoran Sunshine.
In fact, last year’s $50 million listing is today’s $95 million listing. As of now, there are three NYC apartments on the market for that price, all on the southern edge of Central Park.
In the same building as the Weill sale, Emily Beare of Core has listed a $95 million, 6,000-square-foot apartment currently in mid-renovation.
Across the park at the Sherry-Netherland, a full-floor seven-bedroom, seven-bathroom co-op, almost 8,000 square feet, is on the market for $95 million. The Fifth Avenue pad has 2,000 square feet of terraces — and some of the best Central Park views.
At 50 Central Park South, Halstead Property is listing a three-bedroom duplex condo that boasts a ballroom. Price tag: $95 million.
But apartments don’t need to be on Central Park to demand these prices. (Consider the $100 million CitySpire listing a few blocks away.) Nor do they even need to be finished.
Such is the case at One57, the new 90-story Extell Development condo/hotel, where some units are under contract for upwards of $90 million (move-ins are expected next year). Remaining units start at $16.75 million.
Full-floor units start at $53 million. “We did about $300 million in sales over the summer,” says Dan Tubb, director of sales for One57.
For those who want a finished product with all the furnishings thrown in, the Heritage at Trump Place, on Riverside Boulevard, has a mammoth, 14,547-square-foot, eight-bedroom, 15-bathroom triplex condo for $75 million. A fountain, jellyfish tank and ventilated cigar room are included. “It’s like James Bond,” says Kevin Sneddon, senior vice president for Trump sales and leasing. “It’s eight different apartments — six that were combined, and a three-bedroom guest suite.”
Even downtown has gotten in on the act. Leonard Steinberg and Herve Senequier of Prudential Douglas Elliman are marketing a TriBeCa townhouse for $49.5 million.
“These kinds of properties didn’t necessarily exist” a decade ago, says Shaun Osher, CEO of Core, which in addition to the 15 CPW unit has a $50 million penthouse at Walker Tower in Chelsea. “Developers started building these beautiful high-end buildings. All of the top sales, or most of them, [have been] in new developments.”
All this prompts the question: What makes an apartment worth $50 million or more?
“In my opinion, it’s irreplaceability,” says Dolly Lenz, vice chairman of Prudential Douglas Elliman, who’s representing the $95 million unit at the Sherry-Netherland. “When you’ve got eight like it, it doesn’t have that irreplaceability value.”
“It’s for the buyer who wants everything — and doesn’t want to sacrifice anything,” Osher says. “Most real estate has one aspect that’s a sacrifice. [The $50 million-plus] checks all the boxes. They have outdoor space, light, amenities, views.”
But the only way to know what’s worth $50 to $100 million is to find out for ourselves. Here’s the absolute top of the market.
* Lehman Art House $65 million
To get a sense of the Lehman Art House, the 1900 Beaux-Arts townhouse at 7 W. 54th St., stop by the Met. When Robert Lehman died in 1969, he bequeathed his art collection to the museum under the condition that the major rooms of his house be transferred and reassembled there. When the owners of the 19,970-square-foot townhouse renovated, they “consulted with the originals over at the Met,” says Paula Del Nunzio of Brown Harris Stevens. The six-level limestone building can be used as office space or as a residence. It includes reproduced crown moldings and door frames and Gothic-style window arches. Agent: Paula Del Nunzio, Brown Harris Stevens, 212-906-9207
* The Mark $60 million
A 26-foot ceiling is tough to come by. So is a recently restored prewar condo in a building with a Frederic Fekkai salon and a Jean-Georges Vongerichten restaurant. Only one apartment has both: the six-bedroom, 7 1/2-bathroom, 9,799-square-foot penthouse at the 42-story Mark at 25 E. 77th St. There’s a big entertaining space (large enough to chuck a football around), a double-sided fireplace, twin Sub-Zeros in the kitchen, walk-in closets and his-and-hers bathrooms (with a steam room). But the best feature is the 2,400-square-foot roof deck. Step outside and feel the Carlyle, Central Park and the rest of the city make its mark. Agent: Lydia Sussek, The Corcoran Group, 212-893-1434
* Woolworth Mansion $90 million
If you want to know what it’s like to live in a $90 million home before you buy it, you can rent the Woolworth Mansion for $150,000 per month. The early-20th-century neo-French Renaissance limestone townhouse at 4 E. 80th St. was once owned by Frank Woolworth and boasts a 35-foot-long drawing room with a fireplace, a dining room that can seat 50, a kitchen with an adjacent solarium and 14-foot ceilings — and that’s just the parlor floor! The recently renovated building has 20 rooms, including a wood-paneled library. Agent: Paula Del Nunzio, Brown Harris Stevens, 212-906-9207
New York PostOctober 24, 2012
In every Alexa Luxe Living, we break down an elite floor plan. Here’s a four-bedroom, 4 ½-bathroom condo. At around 6,000 square feet, it’s the only post-construction combination in the building and the only apartment of its size that’s not a duplex. The full-service complex features a pool and a health club. Contact: Emily Beare, Core, 212-726-0786
It’s difficult to come up with any building that has enjoyed the same success as 15 Central Park West, the Robert A.M. Stern-designed complex off the southwest side of the park. The building has traded billions of dollars worth of real estate, including last year’s record $88 million sale of Sandy Weill’s condo.
Now 15 CPW is upping its game with a massive, single-floor, four-bedroom, four-plus-bathroom resale with a $95 million asking price.
The seller, steel magnate Leroy Schecter, is one of the few in the building to own conjoining apartments; he hired architect Vatche Simonian to combine them.
Of course, given the fact that the combo — which Schecter previously rented to Alex Rodriguez — is still in the works, many changes can be customized.
“It’s a beautiful apartment, and we want to keep it very classic and neutral,” broker Emily Beare of Core says. “We don’t want to make it look like something out of Versailles.”
The renovation started in early June and is expected to be finished by the end of the year. Prospective buyers are already popping by.
View the floor plan below.
CurbedOctober 24, 2012
New development 93 Worth Street is a big tease. First it put up some signage, then it shared some prices, and now the retail windows are wrapped in info about the amenities, fixtures, and interiors. There are tiny teaser renderings, too—have a look above and below. The amenities include: children's playroom, dog washing station, bike storage, and BBQ station. Prices for the 92 units will fall between $1,250 and $2,000 per square foot, and one of these days they'll actually be for sale.
CurbedOctober 24, 2012
The pre-Civil War charmer at 141 Clermont Avenue in Fort Greene needs some work: there are original wide-plank floors, wood beams, and Greek Revival and Italianate details, sure, but the building is also set up as a two one-bedroom apartments. At only 1,324 square feet total, that's not ideal. So the fact that this house took about a year to sell is no surprise. The place was originally asking $849,000, hiked its price to $875,000 in August, and ultimately sold earlier this month for $850,000.
Brokers WeeklyOctober 24, 2012
Michael Rubin and Reyn Rossington at CORE have just listed Unit 8B at The Indigo in Chelsea for $1.415 million. The south-facing, one-bedroom is a 992 s/f entertainment oasis, according to the brokers. It has high ceilings, two spa-like full baths, a 22-foot wide living room, casement windows, hardwood flooring, a vented washer and dryer, and an open chef’s Poggenpohl kitchen with a Viking range and 24-bottle wine cooler. The master bedroom has a spa bathroom with a separate Steammist steam shower, double sinks, radiant heated floors, and marble and limestone tile. The Indigo has a common roof, backyard, live-in super, doorman, and a 421A tax abatement.
CurbedOctober 21, 2012
New Chelsea luxury conversion Walker Tower is big on the helpful amenities—automatic shades, wall-mounted iPad docks, etc. It has even gone so far as to provide a helpful diagram for any international spies or urban climbers looking to rappel down the building and enter the Cabana Room or Open Air Bar & Grill via awesome rope swinging. Seriously, this looks like something they would, and possibly did, consult in Mission Impossible. "There's only one entry point to the Trellised Allee. We're going to have to do it from the roof." Walker Tower's sponsor unit was listed a few days ago for $13,500,000, and it is still extremely impressive. Check out a whole mess of pictures of it here.
BloombergOctober 19, 2012
Leroy Schecter, a metalworks executive who is seeking to sell an apartment at New York’s 15 Central Park West for $95 million, has purchased the Rothschild Mansion on the Upper East Side.
Schecter paid $25 million for the 11,300-square-foot (1,050-square-meter) property in a deal that closed yesterday, according to his broker, Emily Beare of New York City-based CORE. The seller is the Century Foundation, which had been using the building for office space since acquiring it in 1958.
Schecter, the chairman of steel-framing company Marino/Ware Industries Inc., splits his time between Miami and New York and collects trophy properties, according to Beare. He intends to renovate the 83-year-old Rothschild Mansion and convert it back to a residence, she said.
“He’s somebody that has an eye for premier properties,” Beare said. “When he sees an opportunity he just goes for it.”
Schecter, 85, put his 35th-floor condo at 15 Central Park West up for sale before deciding to buy the Rothschild Mansion, said Beare, who is marketing the property. The five-bedroom home is tied for the second-most-expensive listing in Manhattan right now, according to StreetEasy.com. Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein and the musician Sting also own apartments at the dual limestone towers.
The Rothschild Mansion, at 41 E. 70th St. between Park and Madison avenues, is “a diamond in the rough in the perfect location with the perfect garden,” according to the sales listing by Paula Del Nunzio, a broker at New York-based Brown Harris Stevens. She declined to comment on the sale.
Schecter’s residential conversion would take about two years, and will include configuring bedrooms, adding bathrooms and a kitchen, as well as removing a second staircase that was added for office use, Beare said.
The townhouse was listed for $25 million in November 2005, according to StreetEasy. It was withdrawn then returned to the market with an asking price of $35 million in July 2007, as Manhattan apartment values were approaching their peak. The mansion had been for sale since then, with the price decreasing three times over two years to $25.5 million. In December 2010, as values of luxury properties were climbing, the owners raised the price to $30 million, according to StreetEasy.
The median price of Manhattan luxury properties, defined as the top 10 percent of all deals by price, was $4.07 million in the third quarter, a 2.6 percent drop from a year earlier, New York appraiser Miller Samuel Inc. and brokerage Prudential Douglas Elliman Real Estate said in a report this month.
Steel Magnate Leroy Schecter Out as Buyer of $25M UES Rothschild Mansion
The Real DealOctober 19, 2012
After trading hands in an anonymous $25 million deal early this month, the buyer of the Upper East Side’s Rothschild mansion has been revealed. According to the New York Post, steel magnate Leroy Schecter, 85, was the buyer and he is already planning a multimillion–dollar renovation of the building to convert it back into a single-family residence.
The property, which is located at 41 E 70th Street, between Park and Madison avenues, had sat on the market for seven years and changed its asking prices many times. Its most recent owner was the Century Foundation, a think tank that analyzes U.S. public policy.
Brown Harris Stevens’ Paula Del Nunzio, represented the seller in the deal for the six-story, 11,300-square-foot townhouse. Emily Beare of Core represented Schecter.
Its price was then lowered for its former $35 million asking price three different times over the last two years, until it reached its $25.5 million. Finally the property closed for an even $25 million.
The home was orginally built for Walter and Carola Warburg-Rothschild in 1929, and boasts two 33 foot deep gardens facing one another, according to Brown Harris Stevens’ listing.
Schechter is also the man behind a $95 million listing at 15 CPW. Schechter is combining his two units on the 35th floor of the building, for which he paid a combined $18.9 million. If his units at 15 CPW sell at that ask, it would be a record for the building. That listing is with Emily Beare of Core. [NYP] – Christopher Cameron
Brokers WeeklyOctober 19, 2012
On Sept. 27, private equity real estate firm Brickman and real estate sales and marketing firm CORE hosted a special rooftop concert at One Museum Mile featuring the legendary Harlem Blues & Jazz Band.
The band’s members have a combined 500 years of performing experience, have toured all over the world and won renown for upholding classic and swing jazz and blues tradition.
Located at 1280 Fifth Avenue, the Robert A.M. Stern-designed One Museum Mile is a premier luxury residential development in the Upper Carnegie Hill neighborhood along Upper Fifth Avenue.
Guests included One Museum Mile residents, real estate brokers, real estate and music media, and executive members of the Duke Ellington Society and National Jazz Museum in Harlem—all of whom gathered 21 stories aloft to enjoy a evening immersed in music, and surrounded by panoramic views of the Manhattan skyline at sunset Central Park.
Jazz aficionado, band founder and curator Al Vollmer introduced the band, which was formed in 1973 and has included dozens of jazz musicians throughout its storied past, all of which played Classic Jazz and Blues alongside legends including Louis Armstrong, Earl Hines, Lionel Hampton, Sammy Davis Jr., and Duke Ellington.
Current members and the night’s performers included Joey Morant (vocals and trumpet), Art Barron (trombone), Michael Max Fleming (bass), Fred Wurtzel (guitar), “Zeke” Mullins (keyboard), Jackie Williams (drums), and Fred Staton (tenor saxophone), who is the group’s reigning elder at ninety-seven years old. With One Museum Mile adjacent to Duke Ellington Circle and amphitheater, it was only fitting that Master of Ceremonies Morant led the group through Ellington classics including “Take the A Train” and “C Jam Blues”.
“We are a rapt audience today, and are thrilled to be hosting this esteemed group as we celebrate the fall season,” said Tom Postilio, founding member and managing director of CORE, the building’s exclusive sales and marketing team.
“The building, now at 40% sold and in contract, is feeling more and more like a community and we are glad to see so many of our happy residents here.”
Vollmer added, “It was such a special evening to get the whole band together, and the rooftop’s backdrop was incredible. We would definitely like to do another show at One Musem Mile in the future.”
One Museum Mile is located at 1280 Fifth Avenue and offers studios, one-, two-, and three-bedroom homes, some with outdoor terraces, as well as penthouses ranging up to 2,118-square feet, which are available for immediate occupancy. The property offers a full range of amenities including fitness center, dining room and catering kitchen, lounge, children’s playroom, and rooftop pool and BBQ. The building will house the future Museum of African Art.
GothamOctober 18, 2012
“What I hear all too often from clients, particularly if they’re from out of town, is that there is rarely enough storage space in apartments in New York,” says Brown Harris Stevens vice president and director Jeffrey Shannon. His clients have a point: In the long history of the city’s co-ops and condos, the utilitarian closet often has gotten short shrift. “You do find the existence of sizable walk-in closets in some of the 1920s and Art Deco-period buildings,” Shannon says. “But as wardrobes were more common for clothing storage in that period and certainly prior, there does tend to be less closet space on the whole as compared to post-war buildings.”
Things didn’t get much better after the war, either. In the spare, modernist buildings of midcentury, closet space was an amenity that was “generally overlooked,” according to senior vice president Michael Graves of Core. Early loft conversions were about open space—not storage. “Industrial lofts were obviously not designed as residences, so it was up to the homeowners to renovate the space,” says Shannon.
In recent years, architects and interior designers have acknowledged a basic fact of city life: New Yorkers have too much stuff, and not everyone wants to store their precious holdings off-site. Smart builders are planning accordingly. “Those with experience know that closet space has such a value these days,” says closet designer Melanie Fascitelli of Clos-ette Custom Closets. So much so that many interior architects consider the closet the new frontier of urban dwelling design.
“People want to spend, and to design details into their closets, the way they did with kitchens not long ago,” says Lee Stahl of The Renovated Home. “The amount of detail often rivals what goes into a library.” Stahl says clients demand luxurious finishes, like cerused oak, walnut, and exotic European laminates. They ask for all the bells and whistles, too, including the carousels you see at a dry cleaner’s, space for exercise and media equipment, even wine coolers. “I’d say 30 percent take a bedroom or some other consequential space and turn it into a monster walk-in closet.”
Lisa Jacobs of Imagine It Done says such amenities as pull-out shoe storage, electronic tie carousels, custom cabinets for safes, and lit cabinets are in demand, as well as chandeliers and other items to decorate storage spaces. But regardless of budget, Jacobs is a strong advocate for rigorously editing down your life’s contents. “Eliminate the unnecessary so the necessary can speak,” she says.
For those whose clothing collections are too precious to part with but too extensive to keep at home, there is off-site wardrobe storage and management. Linda Rothschild of the lifestyle management service Cross It Off Your List is launching such a service, called Keep It, Store It, Find It. There’s also Garde Robe, which creates a digital photographic inventory of your wardrobe, so you can retrieve any garment when you want it. Think cloud computing for your closet: Everything is there, somewhere you never see, and accessible with a click.
NY Daily NewsOctober 18, 2012
200 Eleventh in Chelsea has one apartment left: a $12.95 million duplex penthouse with stunning views.
Light, air, the river, two floors covered in teak, giant windows encased in black aluminum, and a car lift that takes you right to your private garage in the sky, in your apartment.
It’s no wonder Nicole Kidman and Keith Urban bought at 200 Eleventh, the still-stunning development by architect Annabelle Selldorf and developers Young Woo & Associates and Italian Glauco Lolli-Ghetti.
With black granite and Venetian plaster climbing the wall, the lobby is so stylized the condo board put a sign on the door: “This is a residence. Please do not enter.”
“Everyone thinks it’s an art gallery,” says listing broker and Douglas Elliman managing director Leonard Steinberg, who lives in the building that he helped sell when it came to market in 2008.
The last unit left is the 3,248-square-foot duplex penthouse, on the market now for $12.95 million, or $3,987 per square foot.
It is astonishing. Even the outdoor space, which New York-based Selldorf faced away from the windy Hudson River, feels like an additional room, perfectly squared and roofed off facing northeast with views of Chelsea and the midtown skyline.
The lines everywhere in this building are classical. It’s all symmetry and clean lines. The views give the building its curves. When you look west to the river, you gaze over a green Astroturf soccer field and sunken park next to Chelsea Piers. Sunsets over the Hudson are all pink.
“These are totally unobstructed and will remain so,” says the South African-born Steinberg, an accomplished pianist known in broker circles as a market maker who gets higher prices for new developments in emerging neighborhoods. “This apartment is one of a kind. We’ve had solid offers and are negotiating now.”
Steinberg sees a market resurgence in Chelsea, where Walker Towers is setting price records on 18th St. off Seventh Ave. fetching more than $4,000 per square foot.
“I don’t know if people want to hear this or not, but everything in New York City is terribly underpriced right now,” he says. “The projects that are coming are going to set all kinds of records. West Chelsea has drastically changed in the past six months. The Avenues school has brought families with children who want their children to receive the best education in the country. Everything here is different now. Avenues is the game-changer.”
Started by Chris Whittle, Avenues is a private school that educates children to understand the global world we live in today. Math, science, languages and core values are taught in a conducive setting. Katie ¬Holmes enrolled daughter Suri Cruise in the school. She moved to Chelsea to be close.
The immediate vicinity, once known solely for art galleries and studios, has seen an uptick in nightlife. The Americano Hotel by architect Enrique Norten has a rooftop pool/bar that during the winter months gives off steam like a hot tub at a ski chalet. Restaurants have popped up along the High Line, just down the street from 200 Eleventh. Still, Steinberg points to the apartment views.
“There is nowhere else in Manhattan with 80 feet of frontage that has protected views of park, water, skyline with your own private garage,” he says. “This building became an instant landmark the day it opened. Architecture tours in the neighborhood make this their last stop.”
Yes, but does Mick Jagger rent here?
“We don’t comment on celebrities or any buyers,” Steinberg says. “You know that. The identity of potential buyers for this apartment, though, would shock anyone.”
We’re sure. Thanks for nothing. Then what about the garage?
“That’s funny,” he says. “One of our buyers estimated that not waiting for your car saves you 20 minutes per day. That’s an extra two weeks you have for ¬vacation per year.”
Coming: As you drive up, a sensor in your car opens the garage door. The door closes behind you. Drive to a waiting car elevator which whisks you to your apartment. Back into your private sky garage.
How the Sky Garage Works
Going: Call the elevator. Drive in head first. At street level, drive onto 24th St. head first through a preexisting curb cut-out left from the previous site, a garage.
Rules: Since New York City does not allow creation of new curb cutouts, without preexisting ones the sky garage could not have been built.
Brokers WeeklyOctober 17, 2012
Two bedroom, 2-bath 1,600-SF duplex loft. Chef’s kitchen with Poggenpohl cabinets, a Subzero refrigerator, a Viking gas range and a Miele dishwasher. Balconies on each level, high ceilings, hardwood floors and ample storage. The two levels are connected by a wide wood and metal staircase. The lower level features an entrance foyer, renovated full bathroom with a Jacuzzi tub. The second level has the master bedroom with a balcony, a wall of custom built-ins, and an interior room with a closet currently used as a guest bedroom. The master bathroom has a walk-in shower, double sink and custom built-in closet. Central A/C, home office, washer/dryer and storage unit. Listing Agent: Lawrence V. Treglia,CORE.
New York PostOctober 17, 2012
EAST VILLAGE $3,300,000
425 E. 13th St.
Two-bedroom, two-bath penthouse duplex condo, 2,500 square feet, with metal slide, media/game room, home office and terraces; building features doorman, keyed elevator, gym and pool. Common charges $4,081, taxes $600. Asking price $3,690,000, on market for 32 weeks. Brokers: Elizabeth Kee and Lindsee Silverstein, Core and Anna Moy, Halstead Property
HomestiloOctober 12, 2012
Friday, at last. I wanted to leave you for the weekend with a look at One Museum Mile. It’s where I and fellow blogger Nina (of No. 40) were assigned to volunteer during Open House NY last weekend.
Museum Mile refers to a section of 5th Avenue that holds quite a few museums including The Met, El Museo del Barrio and the Guggenheim Museum. The idea behind the One Museum Mile building, is that it will house The Museum for African Art at the uptown end of Museum Mile.
Visitors to the building got to see the roof top deck, the amenities floor (themed game rooms and a gym) and several model units which have been staged fabulously. Nina and I were assigned several kinds of monitoring duties. But, we also had plenty of time to do a little exploring on our own (and take way too many pictures as usual).
Brokers WeeklyOctober 10, 2012
One bedroom in pre-war, loft building near Hudson River Park. Situated on the southwest corner of the building, six windows. Currently set up as a one bedroom with den/ office. Building has a part time door- man, live in super and laundry. Ask- ing price: $815,000. Time on market: 4 weeks. Brokers: Nancy Friedman, Prudential Douglas Elliman; Tony Sargeant, CORE.
ModernnycOctober 05, 2012
Crowning the exquisite new conversion at 211 East 51st Street, this spectacular duplex
penthouse is a feast for the senses and is the epitome of New York living. Panoramic
views of the glittering Manhattan skyline dominate this sprawling 3,175-square foot
space, which includes three bedrooms, three en suite bathrooms and two half-baths
among its capacious 7-room layout. The interior spaces are an elegant synthesis of
innovation and imagination. Double-height ceilings and walls of glass endow the
expansive second level with drama and light, and a soaring fireplace evokes a
sense of comfort. Jewel-like finishes adorn the luxurious bathrooms and kitchen,
accentuating clean lines and fluid entertaining. Wrapping the perimeter of each
level are private terraces totaling 1,641-square feet, with several points of access
to indulge a rare brand of seamless indoor-outdoor living. Tranquilly located next
to Greenacre Park, the acclaimed conversion of 211 East 51st Street was
designed by renowned architect Shamir Shah, and the penthouses interiors
have been customized by Mojo Stumer.
New York PostOctober 04, 2012
Bedrooms: 1 Bathrooms: 1
Square feet: 950 Maintenance: $2,773
This isn’t just any old penthouse loft. Atop the “famed” Majestic on Central Park West, the co-op has been “skillfully designed” by architects Tod Williams and Billie Tsien with “museum-quality lighting,” lots of open space, a soaking tub with a park view and oversized windows that also offer “panoramic views” of Fifth Avenue. Agent: Michael Graves, Core, 212-932-2222
CurbedOctober 04, 2012
Buying two penthouses in a luxury condo building and connecting them with a slide is the kind of move that makes a home hard to resell (though it makes day-to-day living way more fun). Even in the East Village's A Building, which is basically party central, it took pro poker player Phil Galfond months to find a buyer for his combo penthouse play place with slide, which he listed in February for $3.99 million. (He paid $3.2 million for the uncombined units, each a 2BR, in 2008.) An in-building tipster tells us, and reps for the listing confirm, that the sale closed yesterday. The rumor among residents is that the final sale price was $3.2 million. We've reached out to the broker and we'll update when we know more. UPDATE: The broker tells us the final sale price was actually $3.3 million.
The new owner purchased the apartment under an LLC, but broker Elizabeth Kee tells us he is a young guy who recently sold his software company and decided to relocate to the East Village. He's promised many friends a chance to use the slide, but once they've had their turns, he plans to renovate the apartment and donate the slide, which was custom-designed by Turrett Collaborative Architects, to a good home. Anyone want?
Here's how the architects described their work on the slide:
The half-tube stainless steel slide starts on the top floor near the office, and lands below near both the living and dining areas. The sculptural slide is housed in a newly created 18' tall double-height space, which includes custom designed glass railings. The image of the stainless steel curves in front of the oversized window to the city beyond, to say nothing of the irrepressible glee of grown adults on the slide, is surprisingly poetic; with careful detailing, the playground element is an unexpectedly elegant addition to the space.
Seller Phil Galfond—who is giving up the apartment because he had to leave the country due to the Justice Department's online poker crackdown—included a number of other fun goodies in the apartment, like a rooftop putting green. But it turns out, Kee says, that Galfond didn't actually own the rooftop, and used it only thanks to an agreement with the developer. Confusion over rooftop rights led to some price negotiations during the sale, so the final price was a bit lower than the most recent $3.699 million ask.