Central Park South

February 12, 2016

Revealed: Central Park Tower Shows Off Its Retail Base

Now dubbed the Central Park Tower, Extell's 1,550-foot-tall supertall on Billionaires' Row was originally known as the Nordstrom Tower, so named because of its ground-floor tenant who will be opening their first Manhattan flagship store. But despite the fact that we architecture nerds were saying "Nordstrom" for years, we had no idea how the store would actually factor into the 95-story building's overall design (which was recently knocked down from a whopping 1,775 feet with the loss of its spire). But now, the Seattle Times (the department store is based out of the Washington city) has revealed renderings of the retail base, reports NY Yimby.
All the details and renderings

Savanna Fund Files Permits to Demolish Billionaires’ Row Building

500-foot tall massing model depicted at the site. Image courtesy of CityRealty

January 29, 2016

Savanna Fund Files Permits to Demolish Billionaires’ Row Building

By Ondel Hylton

New York City-based real estate private equity firm Savanna Fund has filed permits with the Department of Buildings to demolish a 12-story, 36,000-square-foot office building at 106 West 56th Street. No plans for the 5,000-square-foot lot have been announced, but its location along Billionaires' Row and three blocks south of Central Park makes it well suited for another slender residential or hotel tower. The 50-foot by 100-foot lot is zoned at one of the city's highest as-of-right densities and could therefore yield a building of roughly 80,000 square feet of zoning area without any development rights transfers. Above 350 feet in height, north facing spaces would have partial views of Central Park.
More details ahead

New Developments

January 12, 2016

See How 6 Columbus Circle Could Change the Central Park Skyline

By Ondel Hylton

Last Friday, a marketing brochure was released promoting the sale of 6 Columbus Circle, an 88-room boutique hotel that exudes a modernist '60s flair throughout its spaces. While the brick and limestone gem owned by the Pomeranc Group received an ungainly five-story addition in 2007, its ornate 58th Street facade survived intact–though now, its days may be numbered. The New York Observer reported last month that the owners have placed the building up for sale, tapping Cushman & Wakefield as exclusive marketers. With angled views of Central Park starting at less than 100 feet above street level, a source estimates the property could fetch a staggering $1,400 per buildable square foot, a pot of gold to developers' eyes. And the marketing brochure makes the possibilities very clear, conceptualizing a 700-foot-tall, mixed-use spire from the nimble, 42-foot-wide lot.
See how this could change the skyline

Should the City Impose a ‘Window Tax’ for Billionaires’ Row Central Park Views?

Google Earth rendering from CityRealty showing some of the supertalls around the south end of Central Park

December 31, 2015

Should the City Impose a ‘Window Tax’ for Billionaires’ Row Central Park Views?

By Dana Schulz

"The builders are charging up to $100 million for apartments that offer helicopter views of lush foliage, jagged skylines, soothing rivers and angelic clouds. They lure the superrich, many with suspect foreign assets, to sky-high mansions. They enrich themselves by exploiting weak zoning rules to pour hideous implants into Manhattan cavities." All of this, says Max Frankel, who was the executive editor of The Times from 1986 to 1994 and lives half a block from Central Park, may need some consequences. And he wonders if this should come in the form of a "user fee," where residents of these Billionaires' Row towers would have to pay a monthly "window tax" based on how high in a given tower their unit is located. And according to his "back-of-the-envelope calculations," this could bring in roughly $1 million a year per building for the city to use on public projects like street work, parks, education, and affordable housing.
More details ahead

December 3, 2015

Victoria’s Secret Model Isabeli Fontana Tries to Sell Her Central Park South Pad for $2.65M

By Emily Nonko

A pretty apartment for a pretty person: The Italian-Brazilian Victoria's Secret model Isabeli Fontana (who first appeared in the lingerie catalogue at age 16) is selling her two-bedroom co-op at 120 Central Park South (aka the Berkeley House), according to the Observer. She bought the apartment in 2013 for $1.66 million. Previously, the model has lived at Trump Place on Riverside Boulevard and a condo at 88 Greenwich Street. This apartment, which was totally remodeled by Fontana (is that a self portrait we see?), has some good things going for it. It's got lots of windows and views of the park, tons of closet space and some old-world details.
Check it out

The Most Important Towers Shaping Central Park’s South Corridor, AKA Billionaires’ Row

Carter Uncut brings New York City’s development news under the critical eye of resident architecture critic Carter B. Horsley. This week Carter kicks off a nine-part series, “Skyline Wars,” which will examine the explosive and unprecedented supertall phenomenon that is transforming the city’s silhouette. To start, Carter zooms in on the biggest developments shaping the southern corridor of Central Park.

November 25, 2015

The Most Important Towers Shaping Central Park’s South Corridor, AKA Billionaires’ Row

By Carter B. Horsley

They did not come from outer space when they landed on our front yard while the NIMBY folk and the city’s planners and preservationists weren’t looking. Some are scrawny. Some are dressed like respectable oldsters. They’re the supertalls and they’re coming to a site near you.
read more here

November 4, 2015

220 Central Park South Costs $5,000 Per Foot to Build, Now 50 Percent Sold

By Dana Schulz

Robert A.M. Stern's 220 Central Park South has been keeping us on our toes, from its $1.3 billion construction price tag to its $200+ million penthouse to its lightning fast sales (the building was one-third sold after just six weeks, and it's now more than 50 percent sold even though listings for the 118 units have yet to go public). The latest head-spinner comes courtesy of The Real Deal, who reports that developer Vornado is spending $5,000 per square foot to build the Billionaires' Row blockbuster. The actual land comes out to $1,500 per foot, with the remaining $3,500 per foot going to "hard, soft and financial costs." The total sellout is close to $3 billion, and of the 59+ units that are in contract, 14 were pricier than $50 million.
READ MORE

Uncategorized

September 8, 2015

Hedge Fund Tycoon May Be the Buyer of $200M Penthouse at 220 Central Park South

By Dana Schulz

We first got wind of the potentially record-setting penthouse listing at 220 Central Park South back in March, when it was reported that the unit could sell for between $150 and $175 million. In June, sources said that a Qatari billionaire was looking to combine multiple apartments in the Robert A.M. Stern-designed building to create a $250 million mega-penthouse. Then last month, the Post speculated that another high-profile buyer was Ken Griffin, the billionaire hedge fun tycoon who is currently in the midst of a messy divorce from wife Anne Dias-Griffin (she's asking for $1 million a month in child support). Now the paper reveals that it's Griffin who's looking to snatch up the $200 million+ penthouse in what's being called the "billionaire's bunker."
More details this way

Real Estate Trends

August 20, 2015

City Defends Supertalls, Won’t Limit Size of Midtown Towers

By Michelle Cohen

The Department of City Planning announced that although it shares residents' concerns about the effects of the new crop of supertall towers rising near Central Park, it does not intend to lower the size limits on buildings in the dense Midtown district. Crain's reports that department director Carl Weisbrod said in a written response to elected officials on August 12 that the slender structures may actually preserve historic buildings nearby and that they enhance the city's iconic skyline.
Read more on the city's response

July 15, 2015

One57 Received $66M in Tax Breaks in Exchange for Just 66 Units of Affordable Housing

By Diane Pham

If you need more proof that there are some serious flaws with the 421-a program, once again, look no further than One57. As reported by the Journal, the super-luxe tower was the beneficiary of a whopping $65.6 million tax cut, an abatement granted in exchange for a paltry $5.9 million contribution to help cover the cost of 66 affordable apartments in the Bronx. That means your tax dollars subsidized apartments at nearly $1 million per unit—the highest known subsidy under the program—when affordable units on average cost a mere $179,000 apiece. It's estimated that the generous cut could have provided for 367 affordable apartments. The findings came from the latest review by the city’s Independent Budget Office (IBO).
FInd out more here

Affordable Housing

Construction Update: Robert A.M. Stern’s 220 Central Park South Begins Race into the Sky

Image courtesy of Desimone Engineering

July 8, 2015

Construction Update: Robert A.M. Stern’s 220 Central Park South Begins Race into the Sky

By Ondel Hylton

Billionaire's Row's race into the sky continues. Two of its biggest projected selling towers are beginning to rise out of their gargantuan foundations and are rushing to claim their piece of coveted Central Park-fronting airspace. Construction of Vornado's 220 Central Park South development has an early lead against Extell Development's significantly larger Central Park Tower (formerly Nordstrom Tower) across West 58th Street. The first level of concrete and re-bar are now poking up above street level and the elevator/stairway cores are now clearly visible to pedestrian passersby.
See new images of the tower here

June 24, 2015

POLL: How Do You Like the Nordstrom Tower’s New Name, Central Park Tower?

By Dana Schulz

We knew the name Nordstrom Tower wasn’t going to stick; the unofficial moniker came only from the fact that the building will have a Nordstrom department store at its base. And just a week after news hit that the supertall from Extell will be the country’s highest by roof height, we’ve learned the official name: Central Park […]

REVEALED: 1 Park Lane Will Be the Next Supertall Central Park South Tower

Rendering via Witkoff

May 27, 2015

REVEALED: 1 Park Lane Will Be the Next Supertall Central Park South Tower

By Dana Schulz

Just a week after Manhattan's Community Board 5 called for a moratorium on shadow-casting Central Park skyscrapers taller than 600 feet, renderings have been revealed for the next supertall tower coming to the periphery of the park. New York Yimby first spotted the images for 1 Park Lane, the 1,210-foot-tall glassy condo that will replace the Helmsley Park Lane Hotel at 36 Central Park South and become the fourth-tallest residential building in the city.
More details ahead

May 22, 2015

Fully-Furnished Rentals Launch at One57

By Dana Schulz

In the past when we've talked about the latest occupancies at billionaires' row blockbuster One57 we were referring to the record-breaking $100 million condo sale (the most expensive in the city ever) or Bill Ackman's $91.5 million flip attempt. But now those looking to get in on the city's most expensive condo building can do so without dropping seven figures in one fell swoop. Extell Development, after selling most of the condos at One57, has quietly listed 38 fully-furnished apartments for rent on the building's seven lower residential floors. But don't get too excited if you're not in the billionaires' club; asking prices range from $13,350/month for a one-bedroom unit to $50,366 for a three-bedroom.
More details ahead

Real Estate Trends

May 20, 2015

POLL: Do You Agree with the Central Park Skyscraper Moratorium?

By Dana Schulz

Yesterday we reported that Community Board Five’s Sunshine Task Force is calling for “an immediate, temporary moratorium on any new construction of 600 feet or taller that is not already undergoing public review, particularly with those threatening to cast shadows over Central Park in an area bounded by 53rd Street and Central Park South, and […]

May 19, 2015

Community Board Wants Moratorium Placed on Central Park Skyscrapers Taller than 600 Feet

By Diane Pham

Those looking to build a behemoth along Central Park may have to look elsewhere. The Manhattan Community Board Five's Sunshine Task Force has voted in favor of a resolution calling for an immediate, temporary moratorium on any new construction of 600 feet or taller that is not already undergoing public review, particularly with those threatening to cast shadows over Central Park in an area bounded by 53rd Street and Central Park South, and Fifth Avenue to Eighth Avenue. The board voiced their concerns and outlined the ban in a policy brief (via DNA Info) which made its way to the desks of the Department of City Planning and the mayor last week.
FInd out more here

New Renderings Revealed for 217 West 57th Street, the Will-Be Tallest Residential Building in the World

Rendering via NY Yimby

April 20, 2015

New Renderings Revealed for 217 West 57th Street, the Will-Be Tallest Residential Building in the World

By Dana Schulz

It's been relatively quiet on the Nordstrom Tower front since we saw some skyline renderings in September. But now YIMBY has uncovered the official renderings for Extell's 217 West 57th Street, the 92-story, 1,775-foot supertall that will take the title of tallest residential building in the world when completed, surpassing Mumbai’s World One Tower by 29 feet. The images continue to show how the tower will dominate the skyline, but they also give us a detailed look at the façade and a peek into one of the penthouses.
See all the renderings here

February 20, 2015

Troubled Plaza Penthouse Returns with the Same $59M Asking Price

By Aisha Carter

This troubled triplex penthouse at The Plaza just can’t seem to catch a break. It’s been a steady fall from grace ever since 2008, when an unhappy buyer who bought the $53.5 million place sight unseen sued for his $10.7 million deposit plus damages, claiming the home was misrepresented. Well, London-based developer Christian Candy purchased the pad for a comparatively dirt cheap $25.4 million in 2012 and tried to sell it for $59 million a couple of times in 2013. Now the plagued penthouse is back at the same $59 million asking. There’s something to be said for consistency. Let’s just hope the stars align this time and this “townhouse in the sky” finds an owner.
More pics inside

Distinctive Homes

December 11, 2014

Biographer Couple Lists Artsy Central Park Duplex at Gainsborough Studios for $6M

By Aisha Carter

Biographers Edmund and Sylvia Jukes Morris have just listed their duplex apartment at the exclusive Gainsborough Studios for $6 million. The stunning space promises to be a treat for all seasons with gigantic windows offering indescribable views of Central Park that will take your breath away. Yes, a place like this is so inspiring it would turn anyone into an artist.
Take a look inside, here

November 17, 2014

New Rendering for 111 West 57th Street Shows Ethereal Views

By Ondel Hylton

Move over 432 Park, there's a taller, slimmer and sexier ultra-luxury residential tower coming to Midtown. At the Municipal Art Society's 2014 Summit for NYC, Simon Koster, Principal at JDS Development Group, provided the audience with a compelling presentation on how our ideals can serve as the basis in how we shape our city. The restored crown of Stella Tower, the East River mega-rental project at 616 First Avenue, and 111 West 57th Street's discretionary approval by the Landmarks Preservation Commission were used as relevant examples. And the 57th Street project really caught our eye. The 1,400+ foot tower will also become the slimmest building in the world with a slenderness ratio of 1:23. Its narrow profile and stepped crown evoke the romantic art-deco towers of the 1920s and '30s and other timeless city landmarks. SHoP Architects are the designers and WSP Group are the engineers/magicians making sure things remain upright.
More on the tower here

November 17, 2014

The $26M Listing for Lauren Bacall’s Dakota Apartment Is Finally Here

By Diane Pham

Those who've been waiting for a glimpse into the late Lauren Bacall's Dakota apartment will finally have their curiosity quelled. Curbed has just spotted the official listing for Ms. Bacall's sprawling Central Park West home and, as expected, it boasts a $26 million asking price. It was previously reported that the apartment was in need of quite a bit of work, but by the looks of things, the home is in fine shape with many of its original 19th century details still intact, including the original plaster moldings, pocket doors, fireplaces, wainscoting and hardware.
Inside the Dakota apartment

October 14, 2014

Billy Joel Unloads Another Apartment at 128 Central Park South

By Annie Doge

Piano man Billy Joel has just sold off his one-bedroom pad at 128 Central Park South for $775,000, according to public records. The sale is the second for Joel at the building, the first being an $11 million deal he struck last year for the two-bedroom, 10,000-square-foot penthouse he once shared with ex-wife Christie Brinkley. The one-bedroom is a comparably modest pad situated on a high floor of the building. An eat-in kitchen, abundant south light and city views are some of the perks, but the listing (now offline) noted that the home needed renovation. The apartment was previously rented out, though Joel and Brinkley did entertain it as a penthouse extension. The transaction was managed by Joel's accountants Gelfand, Rennert and Feldman. Adam Modlin of the Modlin Group brokered the deal.
See the floor plan here

October 6, 2014

Rent the Ultra-Opulent Plaza Pad of Kazakhstan President’s Nephew for $55K a Month

By Annie Doge

Daniyar Nazarbayev, the ultra-rich nephew of Kazakhstan President Nursultan Nazarbayev, is now leasing his equally ultra-luxurious four-bedroom at The Plaza Hotel for $55,000 a month, reports the NYDN. The beautiful 4,200 square foot home is certainly of a presidential caliber and comes dripping with the ornate features and finishes that have become so synonymous with the storied Plaza. With sunny Central Park views from every room and expansive north and west exposures, this home also hosts ceilings highlighted with mosaic stained glass and crystal chandeliers, artistically detailed moldings, a formal dining room, marble entry foyer, and much more—including a helluva lot of international drama to boot.
Inside the embroiled plaza home here

Distinctive Homes

September 8, 2014

REVEALED: New Skyline Renderings for Nordstrom Tower at 217 West 57th Street

By Dana Schulz

Back in July, we learned that Extell's Nordstrom Tower will rise 1,775 feet–just one foot shorter than One World Trade Center, making it the tallest residential building in the world. Now, New York YIMBY has released renderings of how the 92-story supertall will look against the rest of the skyline. Though official images from Extell haven't been released, these preliminary sneak peeks are pretty impressive.
More on the new development here

August 28, 2014

Impeccably Finished Condo at the Plaza Asks $50 Million

By Aisha Carter

Just weeks after Tommy Hilfiger put his Plaza Hotel estate up for sale, another one is following suit, asking an astronomical $49.5 million, nearly triple the amount it was purchased for back in 2008. However, as ambitious as the price may be, this three-bedroom condo is pretty spectacular. The 3,413-square-foot Art Deco residence has exquisite details, 13-foot ceilings, and stellar views of Central Park—including those of the pond and Gapstow Bridge—from every major room.
Take a look inside this impressive residence

Distinctive Homes

August 13, 2014

Curb Appeal: The Psychology of Moving Buyers from Cab to Curb to Contract

By Lauren Price

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.
How a building's design tugs at your desire to 'be someone'

July 30, 2014

Tour Tommy Hilfiger’s Lavish Plaza Penthouse

By Dana Schulz

When we think of Tommy Hilfiger we might imagine him in an all-American, red-white-and-blue outfit, standing in a nautical seashore cottage, but his penthouse at the Plaza couldn't be any more the opposite than this vision. Instead of paintings of beach scenes there are Basquiats and Warhols (20 of the latter, to be exact); rather than white-washed walls there are entire rooms clad in marble; and instead of simple, shabby chic bedrooms there are opulent personal retreats that could fit entire NYC apartments within their footprint. In short, Mr. Hilfiger's city residence is nothing short of regal. He and his wife Dee Ocleppo purchased and combined three separate units in 2008, and they then embarked on a massive renovation of the duplex to emulate the old-world style of the landmarked building.
Take a tour through this magnificent home and see if the couple lived up to goal

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