Midtown

Billionaire Michael Dell revealed as the secret buyer of One57’s $100M penthouse

Image courtesy of Extell/One57

February 22, 2018

Billionaire Michael Dell revealed as the secret buyer of One57’s $100M penthouse

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Founder and CEO of Dell Technologies, Michael Dell, was revealed as the buyer of the sprawling penthouse at One57 for $100.47 million, the most expensive home ever sold in New York City. According to the Wall Street Journal, Dell first entered a contract to buy the unit in 2012 when the Billionaires' Row building, located at 157 West 57th Street, was still under construction. He closed the transaction through a limited liability company in 2014.
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The 8 best places in Times Square that don’t suck

Photo via Richard BURGER/Flickr

February 20, 2018

The 8 best places in Times Square that don’t suck

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One of the true marks of a New Yorker is an aversion to Times Square, where slow-walking out-of-towners clog sidewalks, costumed characters try to hug you for tips, and overpriced suburban chains like Olive Garden and Applebees abound. But a few bright spots exist amid the touristy madness and Broadway shows, and they’re worth a visit if you happen to be in the area, if not a specific trip (seriously, avoid Times Square at all costs if you can).
Here are a few of our favorites
Passing $2B in sales, 432 Park becomes highest selling building in NYC ever

Photo via Douglas Elliman

February 7, 2018

Passing $2B in sales, 432 Park becomes highest selling building in NYC ever

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CIM Group and Macklowe Properties announced on Wednesday that the world's tallest residential building just broke another record: the single best-selling building in New York City. According to the developers, they have sold $2 billion in luxury condominiums at 432 Park Avenue, a 1,396-foot tower designed by renowned architect Rafael Viñoly. The building's most significant closings include 48 residences selling for more than $20 million each.
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Lottery launches for 258 rentals at TF Cornerstone’s West 57th tower, from $613/month
February 6, 2018

Lottery launches for 258 rentals at TF Cornerstone’s West 57th tower, from $613/month

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The lottery for TF Cornerstone's massive building at 606 West 57th Street officially launched on Tuesday, offering 258 mixed-income rentals in the brand new 42-story tower. Designed by Arquitectonica, the rental, dubbed 606W57, boasts a unique, boxy design and will hold over 1,000 apartments. It sits near other West Side architectural standouts like the pyramid-shaped, Bjarke Ingels-designed Via57 West, as well as the Helena. Qualifying New Yorkers earning 40, 60 and 120 percent of the area median income can apply for units ranging from a $613/month studio to a $2,902/month three-bedroom.
Find out if you qualify
Empire State Building looking for tenants to fill 50,000 square feet of retail space

Photo via Wikimedia

February 2, 2018

Empire State Building looking for tenants to fill 50,000 square feet of retail space

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The landlords of New York City's most iconic skyscraper are looking to fill 50,000 square feet of retail space by 2020, even as brick-and-mortar businesses in Manhattan have struggled to stay open. According to Bloomberg, owners of the Empire State Building are marketing the tower's ground-floor, concourse and second-floor real estate, as the building undergoes a retail renovation for the first time since opening in 1931. Plus, the tower's observatory entrance will be moved from Fifth Avenue to 34th Street.
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New York City’s first crosstown bike lanes proposed for Midtown

Photo via Wikimedia

January 18, 2018

New York City’s first crosstown bike lanes proposed for Midtown

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Crosstown protected bike lanes may finally come to Manhattan's Midtown neighborhood, the first of its kind in New York City. The city's Department of Transportation presented on Wednesday a series of proposals to create bike lanes that stretch from the East River to the Hudson River, traveling east to west instead of north to south. The first two protected lanes are proposed to run east on 26th Street and west on 29th Street, where an existing lane will be replaced. Officials are also looking to add a lane moving west on 55th Street and east on 52nd Street. DOT's move to add more protected bike lanes in Midtown comes after the city experienced an increase in the number of cyclist deaths in 2017, despite it being the safest year on record for traffic fatalities.
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City to open homeless shelter adjacent to One57 on Billionaires’ Row

Image © 6sqft

January 18, 2018

City to open homeless shelter adjacent to One57 on Billionaires’ Row

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Mayor Bill de Blasio plans to open a new homeless shelter for 150 single adult men on Manhattan's Billionaires' Row, part of the city's initiative to open 90 new shelters over the next five years. According to the New York Post, a former hotel at 158 West 58th Street, the Park Savoy, will be converted into the shelter and open in March. The Central Park South building sits behind One57, a supertall known for the city's most expensive residential sale ever: a penthouse that sold for $100 million in 2015.
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65th-floor unit at 432 Park changes hands for the third time in a year-and-a-half
December 28, 2017

65th-floor unit at 432 Park changes hands for the third time in a year-and-a-half

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The end of 2017 has seen a lot of record-setting headlines for 432 Park Avenue, namely the $91 million, three-penthouse sale that was the city's most expensive all year. And a sale at the supertall that came through city property records today makes it clear that there's no sign of slowing down. Unit 65A, a half-floor, three-bedroom spread, first sold in June of 2016 for $27 million to an anonymous LLC dubbed "432 Holdings LLC." This past September, the building's developers CIM Group and Macklowe Properties bought back the apartment for $27.9 million in a presumed attempt to let the seller buy a larger unit in the building. As The Real Deal reported, the seller did just that, upgrading to an 80th-floor unit that cost $39 million. But as of today, the developers have all but made their money back, as the 65th-floor residence sold yet again for $26.4 million to another LLC called "Mallow Enterprises."
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Chinese buyer snags three penthouses at 432 Park for $91M
December 20, 2017

Chinese buyer snags three penthouses at 432 Park for $91M

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After dropping a staggering $91.1 million, a buyer from China now owns three penthhouse apartments at 432 Park Avenue, the most expensive closing to date. Picking up units 92, 92B and 93B, the buyer, 432 Park Joy LLC, gets 11,906 square feet spanning two floors (h/t TRD). As 6sqft learned earlier this month, the combined units originally hit the market for roughly $120 million. Prior to this deal, the largest closing at the supertall was a penthouse that was asking $95 million but closed last year for $87.7 million. But it's still One57 that holds the record for the city's priciest residential deal, a penthouse that sold for $100.4 million in 2014.
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World Trade Center developer Larry Silverstein lists Park Avenue pad for $14M
December 18, 2017

World Trade Center developer Larry Silverstein lists Park Avenue pad for $14M

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After deciding that he wants to move downtown, mega-developer Larry Silverstein has put his longtime Park Avenue pad on the market for $13.9 million, reports the Wall Street Journal. Silverstein Properties is responsible for much of the World Trade Center redevelopment, so it's no surprise that Larry is opting to trade his Central Park views for those of the WTC site; last year, he and his wife Klara dropped $34 million on a penthouse at nearby 30 Park Place. The couple moved from White Plains to 500 Park Avenue 33 years ago when their children left for college.
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Three $40M units go into contract at 432 Park, buyer may be assembling a mega-penthouse
December 8, 2017

Three $40M units go into contract at 432 Park, buyer may be assembling a mega-penthouse

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A massive deal has entered contract at one of New York's most exclusive condos, the super-skinny skyscraper 432 Park. Mansion Global spotted three neighboring penthouses that all entered contract this Wednesday. There's #92B, which was asking $40 million; #93B was asking $40.25 million; and #92A was asking $40.5 million. One of the condos served as a model penthouse (pictured above), which was designed and furnished by Kelly Behun. The developers, CIM Group and Macklowe Properties, would not comment on sales, so, for now, it’s unclear if a single buyer is responsible for the same-day transactions over the two floors. If so, someone has nabbed a nearly 12,000-square-foot mansion in the sky for around $120 million.
The buyer-or buyers-are a mystery
New renderings revealed for Extell’s Central Park Tower as it hits halfway mark

Rendering courtesy of Extell

December 7, 2017

New renderings revealed for Extell’s Central Park Tower as it hits halfway mark

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The 1,550-foot Central Park Tower, the soon-to-be tallest residential tower in New York City, has gotten some new renderings that reveal how it'll appear lit up at night, as well as how its interiors may look (h/t YIMBY). Extell Development's current plans for the Billionaires' Row tower call for 179 condominiums, spanning on average 5,000 square feet, with open layouts and oversized windows overlooking Central Park. With the construction of the supertall at 217 West 57th Street now hitting its halfway mark and rising to roughly 700 feet, Central Park Tower is expected to be completed in 2019.
See inside the supertall
Renderings revealed for the renovated Condé Nast cafeteria, Frank Gehry’s first NYC project

Renderings via the Durst Organization/Studios Architecture

December 6, 2017

Renderings revealed for the renovated Condé Nast cafeteria, Frank Gehry’s first NYC project

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The fabled Condé Nast cafeteria--starchitect Frank Gehry's first ever project in New York--is getting a revamp and will reopen to new tenants in the Four Times Square office tower. The Post reports that the titanium-wrapped, fourth-floor venue is going to be integrated into a $35 million, tenants-only space in the 1.2-million-square-foot tower. The building's owner, the Durst Organization, says that while the space will have more seats, Gehry's signature elements have been preserved, like the curved-glass “curtains,” undulating titanium walls, and banquette seating nooks. 6sqft received a first look at
It'll now be run as a food hall
Live like a star in Lady Gaga’s former Central Park South penthouse for $33K/month

Photo of Lady Gaga via Wikimedia

December 4, 2017

Live like a star in Lady Gaga’s former Central Park South penthouse for $33K/month

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The former penthouse of singer-songwriter superstar, Lady Gaga, has hit the rental market for $33,000 per month. Located in prestigious 40 Central Park South, the two-bedroom, two-bathroom features a sunken living room, two wood-burning fireplaces and a whopping four terraces. As the New York Post first reported, the sprawling duplex has been home to other celebrities like Liza Minnelli and Lance Armstrong. The apartment was featured in Lady Gaga's recent documentary, "Gaga: Five Foot Two," which is currently streaming on Netflix.
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Landmarks votes to consider Philip Johnson’s postmodern AT&T Building for historic designation
November 28, 2017

Landmarks votes to consider Philip Johnson’s postmodern AT&T Building for historic designation

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This morning the Landmarks Preservation Commission voted to calendar the postmodern skyscraper at 550 Madison Avenue, designed by Philip Johnson and completed in 1984. The world’s first skyscraper built in a postmodern style was originally known as the AT&T Building, as the tower served as the company headquarters. Sony moved in in the 1990s, giving it the nickname of the Sony Tower. Last year, the building sold to the Olayan Group and Chelsfield for a whopping $1.4 billion. Their resulting renovation plan, led by Snøhetta, has elicited protest from preservationists who do not want to see changes to the building's impressive arched entryway. Now that the tower's calendared, the developers' $300 million renovation will eventually come up for a landmarks vote by the LPC.
See renderings of Snøhetta's proposal
NYPL unveils $317M master plan and renderings for iconic main branch

New 40th Street entrance. Credit: Mecanoo with Beyer Blinder Belle

November 16, 2017

NYPL unveils $317M master plan and renderings for iconic main branch

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At a Board of Trustees meeting Wednesday evening, The New York Public Library revealed the $317 million master plan that will guide the renovation of the iconic Stephen A. Schwarzman Building on Fifth Avenue and 42nd Street. The plan was developed by Dutch architecture firm Mecanoo and the NYC-based Beyer Blinder Belle. The historic Midtown Beaux-Arts building is home to one of the nation’s leading research libraries as well as historic spaces like the landmarked Rose Main Reading Room, the Maps, Periodicals, and Genealogy reading rooms, and Astor Hall.
This way for more renderings and what's to come
Rockefeller Plaza to get open, circular cutout in proposed makeover

Rendering of plaza outside 1221 Sixth Avenue, via Rockefeller Group/Citterio-Viel & Partners

November 7, 2017

Rockefeller Plaza to get open, circular cutout in proposed makeover

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The Rockefeller Group will transform the indoor-outdoor plaza of 1221 Sixth Avenue, formerly the site of the McGraw-Hill tower, its biggest makeover since 1969. As the New York Post reported, the redesign calls for the current sunken plaza to be replaced with a sidewalk-level space. Designed by Italian architects Citterio-Viel & Partners, the plaza will also feature a large, circle-shaped cutout in its center, adding 35,000 square feet of retail space below-grade level.
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One Vanderbilt’s outdoor observation deck may tie for highest in NYC
November 1, 2017

One Vanderbilt’s outdoor observation deck may tie for highest in NYC

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Nearly a year ago, developer SL Green confirmed that their 1,401-foot supertall One Vanderbilt, set to be the city's second tallest building behind One World Trade Center, would boast a 1,020-foot observation deck, which would have made it the third-highest indoor-outdoor observatory in the city after the forthcoming 1,100-foot deck at 30 Hudson Yards and the 1,050-foot deck at the Empire State Building (One World Observatory is at 1,250 feet, but it’s not outdoors). However, new details and diagrams uncovered by NY Yimby show that it may actually stand at 1,100 feet, tying for the city's highest.
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Proposal for gap along East River greenway calls for two wave-like lanes and flexible outdoor rooms
October 27, 2017

Proposal for gap along East River greenway calls for two wave-like lanes and flexible outdoor rooms

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In April, Mayor Bill de Blasio announced that the city will spend $100 million on closing the gap that stretches from 53rd to 61st Street along the East River Greenway in Manhattan. Beginning in 2019, the city plans on connecting all 32-miles of the greenway's coastline with waterfront amenities for the public. As ArchDaily learned, an interdisciplinary design practice, wHY, has submitted a request for proposal to the New York City Development Corporation for the greenway’s 1.1 mile-long, undeveloped gap. The firm’s $70 million proposal calls for two lanes: a slow one for plants and pedestrians and a fast-lane for bikers and runners.
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Lord & Taylor’s iconic Fifth Avenue building will become WeWork’s global headquarters

Photo courtesy of Lord & Taylor

October 24, 2017

Lord & Taylor’s iconic Fifth Avenue building will become WeWork’s global headquarters

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With rising rents and a national shift towards e-commerce, retail vacancies in NYC have continued to rise, especially in affluent areas like the Fifth Avenue corridor. Old-school department stores, which once served as cultural destinations where shoppers would spend entire afternoons, have been hit especially hard since they occupy such large sites. One of Midtown's most iconic, the 103-year-old Lord & Taylor flagship at Fifth Avenue and 39th Street, has decided to stay afloat by selling its 676,000-square-foot Italian Renaissance building to WeWork for $850 million. The co-working company will relocate its global headquarters to the landmark, reports the Times, leaving less than a quarter of the space, roughly 150,000 square feet, to Lord & Taylor.
Get the whole scoop
Kushner Companies’ plan for extensive renovations at 666 Fifth Avenue rejected by Vornado

A previous rendering of 666 Fifth Avenue, courtesy of Kushner Companies/Zaha Hadid Architects

October 16, 2017

Kushner Companies’ plan for extensive renovations at 666 Fifth Avenue rejected by Vornado

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Instead of the 41-story Midtown tower becoming an 80-story office building with hotel rooms and luxury housing, 666 Fifth Avenue will now get a much more simple upgrade. According to Bloomberg, Vornado Realty Trust, the project’s partner alongside Kushner Companies, told brokers the property will remain an office building, with“mundane” renovations planned. As one of the most financially troubled developments for Kushner Cos., the Fifth Ave project has been losing money since its purchase was first coordinated by Jared Kushner, currently a senior advisor to President Donald Trump, in 2007.
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J.Lo and A-Rod go apartment hunting at 432 Park Avenue
October 16, 2017

J.Lo and A-Rod go apartment hunting at 432 Park Avenue

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When your relationship status gets its own acronym you know you're in another league of celebrity, so it comes as no surprise that J-Rod is said to be checking out apartments in 432 Park Avenue, the tallest residential building in the Western Hemisphere. According to the Page Six, a broker says they've been to the tower four times, while another broker claims they're looking at a "four-bedroom, half-floor unit on a high floor." The timing makes sense, as Jennifer Lopez put her enormous Nomad penthouse on the market for $27 million just 10 days ago.
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Hill West design a modest, 19-story condo for Billionaires’ Row

Rendering of 7 West 57th Street found at its construction site, via CityRealty

October 9, 2017

Hill West design a modest, 19-story condo for Billionaires’ Row

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As Billionaires' Row on Manhattan's West 57th Street continues to grow with supertall towers, developer Sheldon Solow plans on constructing a more modest addition to the block. New renderings of the boutique condo at 7 West 57th Street, designed by Hill West, reveal a 19-floor building with an unassuming glass facade and a convex face, as CityRealty learned. The tower plays off of Solow's concave tower next door at 9 West 57th Street.
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Construction of Norman Foster’s ritzy One Hundred East 53rd Street tower is complete!

One Hundred East 53rd Street, photo via CityRealty

October 5, 2017

Construction of Norman Foster’s ritzy One Hundred East 53rd Street tower is complete!

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The Midtown East tower designed by Norman Foster's Foster + Partners is finally finished. As CityRealty reported, the glassy design of One Hundred East 53rd Street takes into account the bronze hues of its historic neighbor, the Seagram Building, with a counter curtain wall. The luxurious residential building continues to be a magnet for celebrities, including couples like George and Amal Clooney and Cindy Crawford and Rande Gerber. The amenities are also of star quality: a wellness center, library lounge, swimming pool and a restaurant from the French chef Joël Robuchon who has earned 34 Michelin stars.
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REVEALED: Central Park Tower’s ‘Village Green’ lawn and pool deck
October 5, 2017

REVEALED: Central Park Tower’s ‘Village Green’ lawn and pool deck

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Central Park Tower, New York City's future tallest residential skyscraper, is getting a more down-to-earth design. As CityRealty learned, the supertall at 225 West 57th Street on Billionaires' Row will feature a sprawling landscaped space designed by HMWhite. The firm's terrace design includes both passive and active recreational areas, like a central open lawn and a sequence of complimentary garden rooms. Renderings of the projected 1,550-foot tall tower reveal a lap pool overlooking West 57th Street and a sun deck among pergolas and trellises.
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Trump is claiming a $45K tax break by calling Trump Tower his primary residence

Photo of Trump Tower courtesy of Krystal T’s Flickr

September 18, 2017

Trump is claiming a $45K tax break by calling Trump Tower his primary residence

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While this week marks just the third time President Donald Trump has visited New York City since his January inauguration, property taxes he filed after the election designate Trump Tower as his primary residence. As the Real Deal reported, Trump will save $45,000 by calling his penthouse his main home, utilizing a tax credit known as the “coop condo abatement.” The credit can be used by owner-occupied co-ops and condos and takes off 28.1 percent of property taxes for the unit. Because of the tax abatement, the president has saved a little under $200,000 on his taxes over the last five years.
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Tommy Hilfiger again drops price of his Plaza Hotel penthouse to $50M
September 11, 2017

Tommy Hilfiger again drops price of his Plaza Hotel penthouse to $50M

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After making several attempts to sell his pad, fashion designer Tommy Hilfiger is relisting his lavish penthouse apartment in the Plaza for $50 million. Hilfiger and his wife, Dee Ocleepo, first listed the apartment at 1 Central Park South in 2013 for $80 million. After dropping to $75 million in March 2015 and then $69 million, the most recent relisting had the property on the market for $58.9 million in April (h/t Mansion Global). The couple paid roughly $20 million in renovations for the 5,600-square-foot duplex, which features marble-clad rooms, vintage limestone fireplaces from England and a domed room that features a custom-designed “Elouise” mural designed by the children book’s illustrator Hilary Knight.
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