Mann Report ResidentialMarch 01, 2014
How long have you been in the business?
I've been in the real estate business for 10 years.
What made you decide to get into real estate?
I grew up in the industry. When it came to New York City real estate, I discovered a true passion for the business and love being challenged by the dynamics of it.
@NYCRealEstate: Social Media Status Update
The Real DealMarch 01, 2014
In July, Halstead Property broker Jill Sloane wrote a post on the brokerage’s popular Tumblr page titled “10 things you didn’t know about the Ansonia.” Sloane compiled a list of historical tidbits about the Upper West Side condominium, including its status as the first air-conditioned hotel in the city and its cameo in Woody Allen’s Oscar-winning film, “Hannah and Her Sisters.”
A prospective buyer came across the post and reached out to Sloane. The two are now working together to find a unit, according to Matthew Leone, director of web marketing and social media at Halstead parent Terra Holdings.
“Real estate companies should be like politicians and act as ambassadors of the community,” Leone said, pointing to social media — a blanket term for online community-focused tools such as Facebook and Twitter — as a powerful tool to achieve this goal.
In the last three years, social media has gone from being a bit player in New York real estate to a central component of a firm’s marketing and branding strategy. Most of the city’s top residential brokerages have made big bets on social platforms, hiring dedicated teams to run social media operations, brainstorming ways to stand out with their content and training their brokers in the art of engagement. And the ones who haven’t are catching up fast.
Commercial firms have been slower to the draw, but they too are now racking up followers across many social platforms.
Warburg Realty president Frederick Peters, who pens a weekly blog about his views on real estate, said the posts are a strong driver of business for his agents. “It provides the firm with a particular kind of credibility,” he said, noting that the four-year-old blog gets about 1 million page views per year.
Individual brokers who build a social media brand can also reap rewards. Douglas Elliman broker and “Million Dollar Listing” star Fredrik Eklund, who has about 200,000 followers across Facebook, Twitter and photo-sharing app Instagram, estimates that social media is responsible for almost a quarter of his business.
“There are actual transactions coming through,” he said. “People will comment on a post [showcasing a listing] saying, ‘This is perfect for us!’ and then they tag their husband or wife.”
Real Estate's Rising Stars
The Real DealMarch 01, 2014
It takes time to earn your chops in New York real estate. The learning curve is steep, and the market demands both skills and connections. Most of the industry’s household names, on both the residential and commercial side — with the exception of real estate scions like Jared Kushner, Justin Elghanayan and a handful of others — are at least well into their 40s. But there are always ambitious young guns rising to the top of the industry.
This month, The Real Deal talked to dozens of sources to get a sense of who in the 35-and-under crowd is making waves in the industry. In 2011, we featured the young “Moguls in the Making,” such as Douglas Elliman’s Oren Alexander and Benchmark Real Estate Group’s Jordan Vogel and Aaron Feldman in a similar feature. But now there’s a new batch of players to choose from, so we once again sorted through the prospects and came up with a fresh crop of hotshots.
Read on to find out who they are, and what makes them stand out.
SCENE MagazineMarch 01, 2014
Entry into the West Village is not just limited by its expensive real estate but also the diagonal and maze-like nature of the streets. The zigzags, loops and slanted avenues are enough to make your head spin, and even the most veteran New Yorkers find themselves relying on taxis to navigate the streets. But for those brave enough to venture through the labyrinth, a wonderful world awaits with some of the finest real estate in New York.
“The West Village is a very friendly place, like a sophisticated small town. People actually talk to each other in elevators, on the streets, in the cafés and restaurants,” says Debra Kameros, a licensed associate real estate broker at Douglas Elliman, about the culture and feel of the West Village. The beautiful, tree-lined blocks of historic townhouses and converted former warehouses and commercial buildings have all contributed to the “best possible combination of peaceful and serene surroundings,” she adds.
“People fall in love with its cozy streets and historic, low-rise buildings, and there are so many charming boutiques and restaurants,” says Ariel Cohen, the founder of the Ariel Cohen Team at Douglas Elliman. “In many ways, it resembles London’s Chelsea neighborhood.”
New Developments on the Market
The Corcoran Group is leading development on Village Green West at 245 West 14th Street, an area that blends the best elements of the Meatpacking District, Chelsea and the West Village.
“Most importantly, Village Green West is targeting LEED Gold certification, which ensures that residents will be living in a healthy environment,” says Michael Namer, the chief executive officer and founder of Alfa Development.
The 12-story building initially launched its sales at the start of the year, marketing its 27 residences between $1.3 million and $11 million. Each of the residences achieves an old New York aesthetic with industrial brick facades, iron detailing and black steel-paned windows. Completion and occupancy is slated to start at the turn of the new year.
“Because of the demand for purchasing and renting in the West Village, it is unlikely that we will see decreases in price throughout the neighborhood,” says Erin Stabb of Town. “The purchase of new condos continues to soar, especially toward the Hudson River.”
A few blocks away, the Printing House West Village at 421 Hudson Street has received substantial interest in its recent conversion. Nearly a century ago, the building was allocated to the printing industry and deeded by Queen Anne of England to Trinity Church, one of Manhattan’s largest landlords, to occupy the space. The building was then transformed into residential units in the late 1970s and then again in 1980, with 80 of the 184 units selling over the years.
Myles Horn of ABC Properties, Belvedere Capital Management and Angelo, Gordon & Co bought the remaining units and converted them to 64 one-, two-, three- and four-bedroom homes. The asking rent for the uniquely designed spaces will range from $2.1 million to $6.5 million. The building lacks the common amenity of a gym, but the landlords inked a deal with Equinox to offer its state-of-the-art training facilities, rooftop pool and a sun deck.
“The Printing House just went through a major overhaul. Apartments have been turned into glamorous show-stopping homes,” said Jocelyn Turken of Warburg Realty. “It’s a building with a fun history and gorgeous apartments you can move into tomorrow.”
A short distance away, Greenwich Lane is reimagining living in the West Village with its five buildings and five townhouses centered around a 15,000 square foot private garden off 12th Street. Each of the buildings vary in size—one of which holds nine residences, another has 12, and one even has 58—but all have the same amenities that come with luxury residences.
“Our buyers are attracted to the Greenwich Lane because of this unique dichotomy: the ability to live in a boutique, West Village building but have the amenities of a much larger building,” says Justin D’Adamo, the managing director of Corcoran Sunshine Marketing Group. “A resident can live in a building with only eight other neighbors but have the private amenities of a large fitness center, a 25-meter pool, steam and massage rooms, a golf simulator, a lounge, a dining room, a demonstration kitchen, a screening room and a children’s playroom.”
Pricing starts at a little more than $2 million for one-bedrooms and increases through five-bedrooms at $12.5 million. “The Greenwich Lane is at the eastern edge of the Greenwich Village Historic District looking over the low-rise, mostly protected buildings to the west,” D’Adamo adds. “This preservation of views is a significant draw to our buyers.”
Where do you go from the West Village?
It’s hard to find fault in such a desired neighborhood. Similar to the Greenwich Village, gentrification and revitalization has been long on its way with only a few plots of land that have not been developed. “There isn’t a lot of land to build new construction on, and anything that is built will be required to adhere to historic district rules, so the flavor of the area is unlikely to ever change,” explains Turken.
“I think you will see every garage, every run-down house, every empty lot turned into ultra luxury housing,” say Robin and Jeremy Stein of the Stein Team at Sotheby’s International Realty.
The pair further supported Turken’s statement, noting that as long as the landmarks stick to their guns, then the architecture will not change. Some even attribute the growing demand for the West Village to the surrounding areas.
“The growth of the Meatpacking District and the opening of the Whitney Museum and High Line all contribute to the trends we are seeing in this area. People are flocking to the area,” mentions Steve Snider of CORE. “The rental market also continues to be very strong with low inventory.”
“The reality for most is that once they are in the West Village and get settled, they do not feel the the need to move,” he continues. “Where do you go from the West Village?”
SCENE MagazineMarch 01, 2014
It is hard to imagine that the Washington Square Arch, which draws its influence from the Arc de Triomphe in France and has become an iconic symbol for both Greenwich Village and New York University, was defaced with graffiti and vandalism 30 years ago. The sweeping changes that revitalized New York in the early 1990s cleaned off and polished its glistening Tuckahoe marble hue and transformed the neighborhood. The area around the monument and Washington Square Park is referred to as the Gold Coast for its Greek Revival townhouses, the decadent condominiums along Waverly Place and the last bit of Fifth Avenue that runs from Union Square to its end on the northern side of the park.
“The gentrification we live amongst was already in full swing by 2004,” remarks Robin Stein, working alongside Jeremy Stein on the Stein Team of Sotheby’s International Realty. “But over the last 10 years, we’ve seen a filling in of the gaps.”
“That stretch along Seventh Avenue, which was once a bit unappealing with ambulances idling, will soon be a very sought-after stretch,” continues Stein. “This sort of sums up a facet of change in the Village: an unsightly hospital, which served the entire neighborhood, along with many neighboring ones, is being replaced with high-end housing, marking a change for the better for anyone looking for a great apartment to buy.”
“Greenwich Village has always been known as the Mecca of the art scene, where many talented musicians, actors and writers began their careers. The population and neighborhood as a whole have experienced immense changes with the construction of many high-end condominiums, making it one of New York’s most expensive zip codes,” adds Emily Beare, a broker at Core. “However, the community still remains very strong in trying to preserve its identity of being a free-living and liberal area.”
With Great Art Comes Great Housing
Pricing is steep, with a simple two-bedroom along lower Fifth Avenue hovering in the $2.5 million range, Stein notes. “Housing in Greenwich Village is comprised mostly of townhouses and co-op buildings, and in recent years, more condominiums have been built or converted.”
“The trend for larger apartments has driven owners and developers to convert multifamily townhouses back to their original splendor as single family homes,” says Lyon Porter, a sales and leasing director at Town Greenwich Village and Town Soho. “The exciting part of this is that they improve on the original floor plans and add floor area ratio wherever possible, so you see town houses with pools in the basement, glass backs and amazing amenities that weren’t even imagined 100 years ago. These can sell for $30 million or rent for $125,000 a month right off Fifth Avenue in the Gold Coast.”
Between Fifth Avenue and University Place, 12 East 13th Street has started its marketing campaign. The building, which was originally built in 1930, had previously functioned as a 45,000-square-foot Hertz parking garage. A joint venture between DHA Capital and Continental Properties decided to convert the entire building to eight luxury homes.
“The building allowed the developers to enhance a beautiful and solid structure with modern and distinctive features,” says Dan Hollander, a managing principal at DHA Capital. “It originally had eight floors, and now it will have 12, after a beautiful four-story glass structure is added to the top of the building.”
The upper three floors of the glass structure will comprise the crowning triplex penthouse. Five of the eight residences, including the triplex, will hit the market this year. Sales are listed in the $7.5-million-to-$18.95-million range for former sets of apartments, with the penthouse hitting the market for $30.5 million. 12 East 13th Street will also house a parking floor, operated by Park Plus, which commands robots to retrieve their cars in 90 seconds.
NYU and the Neighborhood
Calling Greenwich Village home, New York University has had a strong presence in the area since its founding in 1831. The university is one of the city’s largest real estate landlords and owns many buildings in the area, including a freshman dormitory on Fifth Avenue and several row houses for faculty and offices on the Gold Coast.
The school has also initiated plans to revitalize some of its property under a massive expansion plan called NYU 2031. It is difficult to understand the current and full scope of the plan, as every detail of it has been protested by Greenwich Village residents, NYU professors, city council members and even notable celebrities. Opinions regarding its effect on real estate in the area are just as varied among industry professionals.
“New York University brings in over 50,000 students to the community and about 18,000 employees,” notes Beare regarding the university’s contribution in the area. “The community [also] has a strong voice, and I believe they will work with NYU to come up with a solution that will satisfy both parties.”
“The school plays a huge role in the community, and the expansion is going to add a lot of value to the Village South,” adds Porter. “As an alumnus, I believe that they are adding a lot of value in regards to jobs. Judging by aesthetics, the plans look to be the most forward-thinking in the history of NYU’s expansion.”
“NYU keeps the neighborhood honest and grounded, in my opinion,” says Stein. “The entire village would become housing for the wealthy.” A few at the Marketing Directors added to the sentiment, noting that parents have also bought condominiums in the area for their children to live and hold for investments.
Day in the Life of: Emily Beare
The Real DealMarch 01, 2014
The top-producing CORE broker talks about a new wave of South African investors, pre-dawn Central Park strolls and planning two weddings.
NYC's Premier Properties: 241 Fifth Avenue, 20PH
Luxury Listings NYCMarch 01, 2014
241 Fifth Avenue, 20PH in the Flatiron District
NYC's Premier Properties: 131 West 24th Street, 5-6 in Chelsea
Luxury Listings NYCMarch 01, 2014
131 West 24th Street, 5-6 in Chelsea
NYC's Premier Properties: 419 East 57th, PHAB
Luxury Listings NYCMarch 01, 2014
419 East 57th, PHAB in Sutton Place
Mann Report ResidentialMarch 01, 2014
CORE's Tom Postilio and Mickey Conlon hosted a private cocktail event benefiting March of Dimes at the home of legendary Grammy award winner David Sanborn and his wife Sofia.
CBS2February 27, 2014
Jarrod Guy Randolph takes the CBS2 crew on a tour of his new listing at 845 United Nations Plaza.
CurbedFebruary 27, 2014
Imagine you have around $1,850,000 to spend on a place and you've narrowed it down to two apartments in the same neighborhood. How do you make up your mind? The answer is simple: you shove them into a metaphorical cage and let them battle it out until one emerges victorious. It's time for Real Estate Deathmatch.
New York PostFebruary 26, 2014
$5 million | 131 W. 24th St.
Going up? You bet you are, using the private elevator in this five-bedroom, three-bathroom duplex loft. The central living room has 18-foot, 9-inch ceilings and opens to several multi-use areas. The kitchen is surprisingly “unpretentious,” so no shame in nuking a jar of Tostitos cheese dip while you enjoy all that natural light flooding in. The bathrooms are Zen-sational: Jacuzzi tubs and all. There’s also a double-height projection screen for mandatory movie nights. Agents: Adie Kriegstein and Patrick Lillly, Core, 212-612-9681 and 917-921-6929
New York PostFebruary 25, 2014
This “meticulously renovated,” never-before-lived-in, two-bedroom, 2½-bathroom penthouse co-op — sun-drenched, with three fireplaces and panoramic vistas of the city — also features a 1,900-square-foot terrace to better eyeball those river-to-river views. The master bedroom, reached through two French doorways, has a marble soaking tub, stall shower and double sinks for tandem teeth-brushers. Your non-perishable food will live the good life, as well, stashed inside the state-of-the-art kitchen’s St. Charles custom cabinetry, while the central A/C spans five zones.
Agents: Doug Eichman and Ben Jacobs, CORE, 212-612-9661 and 212-612-9682
On the Market in New York City
The New York TimesFebruary 21, 2014
Greenwich Village Loft
MANHATTAN | 200 Mercer Street, #4E
A two-bedroom one-bath loft with a wood-burning fireplace and a washer/dryer in a prewar elevator building with video surveillance. Patrick Mills, CORE (917)657-5607; corenyc.com
MAINTENANCE $2,333 a month.
PROS: Four east-facing windows bring light to the living/dining and kitchen area. Classic loft details include exposed brick and high ceilings.
CONS: The bathroom lacks a tub and needs an overhaul. A partial wall blocks windows in one bedroom; the other bedroom is an interior room.
Modern NYCFebruary 21, 2014
Magnificent 4,200 square foot duplex loft now available in Chelsea. The home's flexible layout is currently configured with five bedrooms and three full bathrooms. The central living room boasts a dramatic 18'9" ceiling height and opens to several multi use areas, including a library, family room, dining room and kitchen. The use of exposed and painted brick, metal support beams, wood flooring and glass panels creates a warm, modernist space. A keyed elevator provides private access to both floors. The industrial kitchen is massive and unpretentious, flooded with natural light. The master suite has an exercise room, walk in closet and a charming, zen like bathroom equipped with a Jacuzzi tub. Additional features include a double height projection screen, excellent storage options, washer/dryer, and zoned air conditioning and heating. The financials on the building are excellent, with a very large reserve fund for a small building and low monthly maintenance of $1,300 per month. A live/work setup with very minimal traffic is allowed, as are pets.
Priciest, Cheapest Listings to Hit the Manhattan Market This Week
The Real DealFebruary 21, 2014
Brown Harris Stevens’ Avideh Ghaffari had the priciest single-family residential listing to hit the Manhattan market this week with a $49.95 million townhouse at 29 Beekman Place in Midtown. The sprawling 11,500-square-foot, eight-bedroom pad, previously home to CBS founder William Paley, boasts eight wood-burning fireplaces, four powder rooms, two back terraces and a spiral staircases. Also tricked out with an elevator to all floors, the home, originally constructed in 1910, was completely renovated in 1996, according to the listing.
Second on the pricey end this week is a $25 million condominium at 845 United Nations Plaza. The four-bedroom residence in the Trump World Tower boasts views of the Queensboro Bridge, a private master suite with his-and-her baths and walk-in closets, a triple soundproof home theater decked out in leather and Maccasar ebony wood and capped off by a Wisdom Audio Sage Series sound system. The Core Group’s Jarrod Guy Randolph has the listing.
Tied for second place this week is a townhouse at 421 East 6th Street in the East Village, also asking $25 million. The 16,402 square feet property, most recently home to the late sculptor Water de Maria, was constructed in 1920 as a Con Edison substation and maintains original interior fixtures from that time. Features include slab-to-slab ceiling heights ranging from 14 feet to 32 feet, multistory warehouse windows, an old-fashioned through-floor pulley system and exposed brick. One of the tallest buildings in the area, according to the listing, the home also boasts views of the city skyline. Cushman & Wakefield’s John LiGreci has the listing.
Coming in third on the pricey end this week is a $19.75 million co-op at 239 Central Park West on the Upper West Side. Spanning 5,135-square-feet, this six-bedroom duplex boasts a formal dining room with a wood burning fireplace, eat-in chef’s kitchen, media room, library and two extra-large powder rooms. The en suite bedrooms are located on the top floor, and the master suite is touched off with a master bath, wood-burning fireplace and views of the park. Raphael De Niro of Douglas Elliman has the listing.
We head further uptown for the week’s cheapest listing: a $195,000 two-room studio co-op at 80 LaSalle Street in Morningside Heights. Located on the 16th floor of a 21-story building, the property features a separate windowed kitchen, full bath and shower with a tiled floor and closets leading from the hallway entrance. Building amenities include an elevator, landscaped gardens, fitness center, playrooms and child day care, laundry room, parking garage and 24-hour security. Halstead Property’s Mark Lewis has the listing.
The second-cheapest unit of the week is a $210,000 one-bedroom co-op at 689 Fort Washington Avenue in Hudson Heights. Recently upgraded, the unit features a renovated kitchen and bath, while building amenities include central laundry off the lobby and bicycle storage. The Corcoran Group’s Jessica McCann has the listing.
The week’s third-cheapest listing is also located in Hudson Heights at 340 Haven Avenue. Asking $214,900, this pre-war one-bedroom studio co-op is outfitted with hardwood floors, new appliances and high ceilings. Building amenities include bike storage, a parking lot, live-in super and two large courtyards. Douglas Elliman’s Katherine Shindle and Jeffrey Dyksterhouse have the listing.
Real Estate WeeklyFebruary 21, 2014
Mark Schoenfeld and Brandon Cohen from Corcoran just closed on their third big sale at Place 57.
Unit 30A in the boutique luxury condo at 207 East 57th Street, has the “feel of a downtown loft but has been brilliantly translated into a state-of-the art luxury condo,ˮ say the duo.
The center-piece is a dramatic triangular living room with 10 ft. ceilings and wrap-around windows.
They offer “forever viewsˮ all the way north to the George Washington Bridge, south to a dazzling midtown, west across Central Park to New Jersey and east to Long Island and beyond.
The apartment has mahogany floors, a gourmet Viking open kitchen, three Waterworks bathrooms, motorized electric shades throughout, and walk-in closets.
Place 57 was designed by architect Ismael Levya.
It’s a white glove building with a 24-hour concierge, a Baccarat Crystal lobby, fitness center, children’s playroom, conference room and a Baccarat Crystal Garden.
CORE’s Blu Kokin set the asking price at $3,995,000 for his seller. It sold after 54 days on the market for $3.91 million.
CurbedFebruary 17, 2014
The owner of this 3,600-square-foot combination in the Trump World Tower describes himself as a "detail fanatic" (probably for the best, as he is a facial plastic surgeon), so when the brokerbabble says the design is the product of a "meticulous renovation," it's no exaggeration. The Times details the three-year makeover, which combined two units to make a 95-foot long home that runs the length of the building. Features include a library with Macassar ebony wood built-in shelves, white crocodile-skin cabinets in the master bathroom, a soundproof home theater with leather chairs by Bentley Motors, and an entryway clad in "custom African ziricote wood panels." The Steinway piano and rare-edition Harley Davidson seen in the photos, plus all of the artwork and furnishings, are also available for purchase if a buyer happens to be interested. Sans accoutrements, the place is asking $25M.
Trump World Condo Asks $25M Following Renovation
The Real DealFebruary 15, 2014
A combination unit in the Trump World Tower at First Avenue and 47th Street has hit the market asking $25 million.
The 32nd-floor unit recently underwent a multimillion-dollar renovation that, over a period of three years, transformed the property from a bachelor pad into a sleek modern home with East River views.
“I don’t like cold modern,” the seller, Dr. Sam Rizk, a facial plastic surgeon, told the New York Times. “I wanted it to be contemporary and warm, and for that you need lots of wood and warm colors.”
The four-bedroom, 3,600-square-foot condo features a home-technology system, a theatre and a 95-foot entertaining space.
Jarrod Guy Randolph of the CORE Group has the listing.
Lonny MagazineFebruary 14, 2014
Lonny editors Sarah Storms and Kaylei McGaw share their tips for making this Valentine's Day one to remember.
The New York TimesFebruary 14, 2014
A combination unit at 845 United Nations Plaza that underwent a multimillion-dollar three-year renovation to transform a modern bachelor pad on the 32nd floor into a contemporary showplace with a 95-foot west/east wingspan, dynamic East River views, and an assortment of futuristic home-technology systems is about to enter the market at $25 million.
The four-bedroom four-and-a-half-bath condominium, No. 32A, in the sylphlike black-and-gold glass Trump World Tower at First Avenue and 47th Street, just north of the United Nations campus, has monthly carrying costs of $8,150. From the living area, the home theater and the secluded master suite, there are unimpeded views of the 1936 Pepsi-Cola billboard on the eastern bank of the river as well as views north to the Queensboro Bridge and west to the Chrysler Building.
On either side of the 95-foot-expanse that constitutes and connects the main entertaining spaces, the nearly 3,600-square-foot apartment has two wings — one for the master suite, to the southeast, the other for two bedrooms and an auxiliary catering kitchen, to the north. On the western end, the library, with Macassar ebony wood built-ins, has an eight-foot-tall window that captures western views and connects to the family room, which has a built-in desk and is dominated by a Steinway grand piano. The 20-by-16-foot living room has picture windows overlooking the East River, a built-in ebony bar, and a hidden television also framed in ebony. The room opens onto a dining area with north and east exposures, and as befits a home with Warhols and Picassos on the walls, the windows have an art-protective ultraviolet tint.
The elaborate face-lift was dreamed up by the seller, Dr. Sam S. Rizk, a facial plastic surgeon and self-described “detail fanatic” who moved into No. 32A in 2002 and five years ago added No. 32E when he learned that an east/west open reconfiguration was possible. “We were able to tear out a bathroom and break through the walls and create something that runs the depth of the building,” he said. Many of the design elements, like the white crocodile-skin cabinetry framed with metal in the master bath and walk-in closet, owe their existence to the unconscious imaginings of Dr. Rizk. “I would see it in a dream and wake up and write it all down,” he said.
The overarching theme of the renovation, which was preceded in 2011 by the eight-month installation of a white 17-by-12-foot Poggenpohl kitchen with Caesarstone counters and floor, was also Dr. Rizk’s idea. He wanted a modern aesthetic, but not an austere version of modernity.
“I don’t like cold modern,” he said. “I wanted it to be contemporary and warm, and for that you need lots of wood and warm colors.” The floors are oak plank, and the 20-by-7-foot entrance gallery is sheathed in custom African ziricote wood panels fabricated by NY Loft. The custom milk-glass-and-Macassar-ebony pocket doors used as discreet room dividers throughout the home were created in Italy, and the leather chairs in the leather-wrapped, triple-soundproofed home theater were made by Bentley Motors, the luxury automobile purveyor.
Dr. Rizk, along with his wife, Carolina, a former model who assisted on the apartment’s redesign, and their 8-month-old son, will most likely move farther uptown to be closer to his office at 1040 Park Avenue. Their next move, he said, will probably not involve another major renovation. “This one was grueling; I mean, we had to move out for two years.” The artwork and furnishings, including the Steinway and a rare-edition silver Harley-Davidson that stands guard in the master bedroom like a sculpture (albeit one that can be driven though it never has been), are available should the buyer be interested.
Another lavishly appointed former bachelor pad at Trump World Tower, this one on the 70th floor near the apex of the building, and with Ultrasuede walls and a billiards/game room, sold for $15.5 million in 2012; Derek Jeter, the Yankees captain (who just this week announced his retirement), was the seller.
The listing broker of No. 32A, Jarrod Guy Randolph of the CORE Group, said the unit had been so thoroughly and expensively renovated that, besides being in turnkey condition, “it is like buying a new-construction product.” The level of the finishes, the attention to detail, and the pristine condition of the mechanical systems and appliances make it “an anomaly in the building,” he said. “It compares favorably to One57, 432 Park Avenue and One Beacon Court, and for a buyer to be able to find something of that level of quality in this neighborhood is very rare.”
And expensive, but Dr. Rizk envisions a billionaire buyer who covets the building’s Trumpian amenities and proximity to the United Nations. “I can see a buyer from Russia or the Middle East taking one look at this and loving it,” he said. “I know I’ve loved everything about it.”
5 Cheapest Manhattan Sales of the Week
The Real DealFebruary 10, 2014
The Townsley, a co-op building at 245 East 35th Street in Murray Hill located near the mouth of the Queens-Midtown Tunnel, was the site of the fifth cheapest home sale in Manhattan this week — an alcove studio on the eighth floor for $355,000. That was about 5 percent under the listed price for the studio. The apartment was originally listed for nearly $400,000, despite having last sold in 2005 for more than $415,000. Emily Beare and Steve Snider for brokerage CORE had the sale.
CurbedFebruary 09, 2014
Back in December, we expressed some reservations about a Walker Tower flip that went on the market seven days after seller Burt Freiman bought the place, especially when we learned that he was asking nearly $2.9 million more than the $5,027,609 that he paid for the apartment a week earlier. Naturally, the 2,179-square-foot 2BR/2.5BA unit "with soaring ceilings, top-of-the-line finishes and amenities, Empire State Building views, and a handy home office" just sold on Thursday for a very respectable/insane $7.775 million.
The apartment (which he had never even set foot in) was on the market for a mere three weeks before going into contract in early January, the buyers having expressed interest before broker Reba Miller of CORE even had a chance to stage it. Freiman—a retired businessman who has apparently decided to spend his golden years buying expensive apartments and reselling them to chumps—previously bought a 15 Central Park West sponsor unit for $4.9 million and flipped it for $7.6 million.
Walker Tower Unit Flips for $2.9M Profit
The Real DealFebruary 09, 2014
Walker Tower just got its first successful flip, and at $2.9 million, the profit wasn’t bad.
In December, seller Burt Freiman purchased a unit in Walker Tower for just over $5 million. Within a week the 2,179-square-foot, two-bedroom, two-bathroom unit was back on the market. Now the unit has sold for $7.775 million, according to Curbed.
The apartment, which Freiman had never even set foot in, was on the market for a mere three weeks. In fact, the unit went into contract in early January, with the buyers approaching broker Reba Miller of CORE.
According to Curbed, Freiman, a retired businessman, previously purchased a sponsor unit in 15 Central Park West for $4.9 million that he later sold for $7.6 million.