Posted Apr 23, 2018, 6:59 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,988
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https://nypost.com/2018/04/22/kushne...ark-ave-co-op/
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....The Emery Roth-designed 417 Park Ave., at the southeast corner of 55th Street, opened in 1916. It has 26 apartments on 13 floors behind a stately limestone façade. It converted from a rental to a co-op in 1946 and survived the wave of office construction that wiped out its apartment neighbors.
Glamorous occupants include “Scarface” producer Marty Bregman, whose 4,000-square-foot pad has been on the market at $7 million-$10 million for several years but has yet to snare a buyer. “The Exorcist” director William Friedkin once lived there and used his apartment as a setting in several films.
It’s exceedingly difficult, but not impossible, to buy a residential co-op building from its shareholders. Typically, 100 percent of unit owners must agree to any sale offer and to the price. However, 417 Park Ave. requires only a 67 percent majority to sell the property, insiders said.
Several offers to buy out 417 Park Ave. in previous decades went nowhere. What made the building, known as “the holdout,” newly desirable is recent East Midtown rezoning, which would allow a much larger building to replace it if a developer met stringent requirements for public amenities and transit upgrades.
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Neighbor getting an upgrade...
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https://archpaper.com/2018/03/405-pa...ks-air-rights/
405 Park Avenue buys St. Patrick’s air rights for a glassy upgrade
By JONATHAN HILBURG
March 1, 2018
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Only two days after AN reported that the owners of St. Patrick’s Cathedral in East Midtown, Manhattan, were planning on selling a portion of the venerable church’s air rights to an undisclosed buyer, Crain’s New York has reported that the transfer will go towards enlarging 405 Park Avenue. The 17-story, currently unassuming brick-and-glass office tower will grow another four stories and have its facade replaced with an all-glass curtainwall courtesy of global architecture firm Gensler.
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NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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