SkyscraperPage Forum - NEW YORK | One57 | 1,005 FT | 75 FLOORS

SkyscraperPage Forum (https://skyscraperpage.com/forum/index.php)

- Buildings & Architecture (https://skyscraperpage.com/forum/forumdisplay.php?f=397)

- - NEW YORK | One57 | 1,005 FT | 75 FLOORS | 2014 (https://skyscraperpage.com/forum/showthread.php?t=214131)

http://www.wsj.com/articles/manhatta...014-1419617159

Manhattan Apartment Prices Soar to Record Levels in 2014

By JOSH BARBANEL
Dec. 26, 2014

Quote:

The number of sales recorded for more than $4 million rose to record levels too, including 33 apartments selling for more than $25 million so far in 2014, about 25% more than in 2008. Of these 12 were at a single new condominium, the 1,000-foot tower One57 built by Extell Development Co. on West 57th Street which opened about a year ago. Three sales there were for more than $50 million.

But these sales were topped by a few co-ops on the Upper East Side. At 740 Park Avenue, Israel Englander, the founder and chief executive of a hedge fund, Millennium Management LLC, paid $71.3 million in August for an apartment near one he already owned—a record for a co-op.

Another buyer, Len Blavatnik, a Ukrainian-born American businessman and investor, could soon set a new mark with the purchase of a co-op at 834 Fifth Ave. for about $80 million, a sale that hasn’t closed yet, brokers said.

...Gary Barnett , the president of Extell, said he expects to sell out at One57 in 2015, when he will launch sales of four new condominiums across Manhattan, including another luxury building on West 57th Street.

He said there was a strong overall demand “in all areas of the market, from the low to the top.” And very little supply.

“New development is where the action is,” he said.

This building is a game changer for the Central Park South market. I was skeptical at first but this building realy stands out in a good way. Cheers!

One of the penthouses finally closed for $100.5 million.

Quote:

Manhattan’s record for priciest condo sale was broken today yet again with the closing of a $100.5 million purchase of a penthouse at Gary Barnett’s One57, according to property records filed with the city today.

http://therealdeal.com/blog/2015/01/...#ixzz3P33ryKCl

one57 is getting hardcore trolled by 432 in that photo

Some info and reflection on the sales:

One57 Sets New York Record With $100.5 Million Condo Sale

Quote:

A duplex penthouse spanning the top two floors of the One57 condominium tower was sold for $100.5 million, setting a record for the most expensive residential deal ever completed in Manhattan.

The sale of Unit 90, which spans all of the 89th and 90th floors of the 1,004-foot (306-meter) tower, closed on Dec. 23, according to records made public by the New York City Department of Finance on Friday afternoon. The buyer was listed as P89-90 LLC.

The apartment, with almost 11,000 square feet (1,020 square meters) of space, including six bedrooms, was last for sale at $115 million, according to a price list filed with the New York state attorney general’s office. The duplex was marketed at $98.5 million before the builder, Extell Development Co., raised prices in response to strong demand.

The deal sets a new bar for the Manhattan residential market, breaking a record set in 2012 when former Citigroup Inc. (C) Chairman Sanford Weill sold his penthouse at 15 Central Park West for $88 million.

Another Duplex

Quote:

Sales at One57 began in 2011 and reached $1 billion in the first six months, including the deal recorded on Friday.

Another duplex at the building, spanning the 75th and 76th floors, is under contract to be sold for more than $90 million to an investment group that includes Bill Ackman, founder of New York-based hedge-fund firm Pershing Square Capital Management. That deal has yet to be recorded in public records.

Sales at One57 have slowed to a trickle amid competition from other properties reaching the market. Just one contract was signed in each of the first three quarters of 2014, Extell said in a filing on the Tel Aviv Stock Exchange, where the company sells debt to investors. As of the end of September, 24 of the project’s 94 condos were unsold.

==============================
http://www.bloomberg.com/news/2015-0...ondo-sale.html

http://www.nydailynews.com/life-styl...icle-1.2081765

THE $100 MILLION HOME:
Mystery buyer drops staggering amount on palatial 57th St. apartment as deal sets city record

http://assets.nydailynews.com/polopo...b.jpg?enlarged

Katherine Clarke
January 16, 2015

Quote:

It’s the crown jewel of ‘Billionaires’ Row.’

A palatial apartment on 57th St. has broken the record for the most expensive apartment ever sold in Manhattan

A mystery buyer dropped a staggering $100.47 million on the penthouse apartment, which occupies the entire 89th and 90th floors of One57, the high-end apartment tower overlooking Central Park at 157 W. 57th St., according to city records.

The property is the first single-family home to sell for more than $100 million in the city’s history.

Experts said the deal will likely be the first in several transactions to top $100 million as a result of the recent luxury development boom in Manhattan.

The penthouse at a new tower going up at 520 Park Ave. is slated to hit the market with a price tag of $130 million later this year.

When will they start lighting the crown?

I was in New York over the weekend, staying at the Salisbury hotel, which is next door to One57.

I got a peek inside the library and took a couple quick snaps on my iPhone so not the greatest quality. (and yes, that's my flickr account)

https://farm8.staticflickr.com/7602/...3c2db91107.jpg IMG_3137 by andrewcutler920, on Flickr

https://farm8.staticflickr.com/7610/...f8bd50eaa6.jpg IMG_3138 by andrewcutler920, on Flickr

And here's a pic from a couple blocks away:

https://farm9.staticflickr.com/8726/...4923ef05b7.jpg IMG_3154 by andrewcutler920, on Flickr

I have to say, seeing it in person has made me appreciate the features I criticized before, namely the mismatched colored panels at the top. In pictures it looks a bit out of place and awkward, but in person I think it adds definition and distinction to the building. All in all, this building has grown on me a lot. :)

(I like it much more than its closest super-tall cousin 432 Park Avenue, which I detest.)