NEW YORK | 41 West 57th Street | 1,100 FT | 63 FLOORS

[Mulan]

Could the Solow Building be demolished in the near future? The owner could build a striking tower (NY's first megatall) on these two lots.

[NYguy]

March 1, 2025

[NYguy]

These new developments of 57th need to get going...


https://www.wsj.com/real-estate/luxury-homes/byron-allen-220-central-park-south-nyc-08a372a3

Byron Allen Sells Condo at Billionaires’ Row Tower for $82.5 Million
The media mogul, who sold the 220 Central Park South pad in an off-market deal, paid $75 million for the unit in 2023


By Katherine Clarke and E.B. Solomont
March 6, 2025

Media mogul Byron Allen has sold a full-floor unit at Manhattan’s 220 Central Park South condominium for $82.5 million, significantly more than the $75 million he paid for the apartment in 2023, property records show.

The deal is the latest in a string of major transactions at the Billionaires’ Row megatower, which has drawn moneyed buyers like hedge funder Ken Griffin and Joseph Tsai, the Alibaba co-founder and Brooklyn Nets owner.

[NYguy]

Time to get moving again…


https://therealdeal.com/new-york/2025/04...e-billionaires-row-boom-to-strong-march/

Billionaires’ Row boom leads new dev to five-month high
Last month’s 302 signed contracts mark most since last October


By Jake Indursky
April 11, 2025

March saw a number of blockbuster new development deals amid dwindling inventory.

In total, there were 302 contracts signed in New York City compared to 284 in the same month last year, according to Marketproof’s monthly report.

The luxury market, defined as deals over $4 million, performed particularly well last month, buoyed by six contracts over $20 million at 111 West 57th Street. There were 53 deals signed over $4 million last month.

Sotheby’s International’s Nikki Field took over sales last summer to sell the final 27 units in the 59-unit tower, developed by JDS Development and Property Markets Group.

The building is down to its last 10 units, according to Field, who said the luxury market has only been strengthened by wealthy buyers with cash looking to park their money into a relatively stable asset — New York City real estate.

“They’re going to gravitate to areas like New York that have proven over and over and over again that they can withstand whatever the world hits them with,” she said.

[ChiND]

I still hope that Sedesco's site will be combined with Vornado's/Lefrak's.


NYGuy

[NYguy]

MAY 26, 2025

[ChiND]

I still think that the Vornado/LeFrak site will be combined with Sedesco’s. However, I recently read that Soloviev owns 35 W 57th, which separates the two parcels.

https://newyorkyimby.com/2021/07/demo-pe...st-57th-street-in-midtown-manhattan.html

[Sky88]

Originally Posted by ChiND

I still think that the Vornado/LeFrak site will be combined with Sedesco’s. However, I recently read that Soloviev owns 35 W 57th, which separates the two parcels.

https://newyorkyimby.com/2021/07/demo-pe...st-57th-street-in-midtown-manhattan.html

I hope not, because on a site that is too wide it means a low tower in height.

[ChiND]

Originally Posted by Sky88

I hope not, because on a site that is too wide it means a low tower in height.

Not necessarily. There could be a very nice stretch of lowrise retail. The same is true with Soloviev's very long site across the street.

[NYguy]

I can’t imagine they want to sit on this site, and watch towers like 625 and 655 Madison get built first. Especially when things are going well.


https://www.realtor.com/news/trends/manhattan-luxury-condo-sales-june-2025/

Manhattan’s Luxury Housing Market Just Had One of the Best Junes on Record—Led by $20M Condo Deal in Billionaires Row Skyscraper


BY SNEJANA FARBEROV
JUNE 30, 2025

The Big Apple's high-end condominiums, co-ops, and townhouses were in high demand in June 2025, with 153 deals valued at $4 million and up signed as of Sunday, according to the latest Olshan Luxury Market Report.

To put this figure in historical context, this marks the third-strongest June for sales since Olshan Realty began tracking the data in 2006. The best June on record was in 2021, when 176 contracts were penned, followed by June 2023 with 155.

The No. 1 contract last week involved a condo at 111 West 57th St., known as the skinniest skyscraper on Manhattan's Billionaires Row.

The luxury property's asking price was $20.5 million, down from the initial list price of $23.75 million that was set as units were marketed off of floorplans in June 2016, five years before the stunning 84-story tower of glass, terra cotta, and bronze was even completed.

… This marks the eighth time this year that a condo in the impossibly slender skyscraper has claimed the No. 1 or No. 2 spot in the Olshan report.

[ChiND]

I hope that Sedesco's site is combined with the Vornado/Lefrak site. The problem is that Soloviev apparently owns 35W 57th which separates the two sides. It will be interesting to see if the main portion of Soloviev’s tower is on the east or west side of his site. If it’s on the west side, he probably would not want a Sedesco/Vornado tower to the north.


Google

[NYguy]

https://www.pincusco.com/sedesco-pays-18...fice-retail-in-midtown-west-condo-tower/

Sedesco pays $18.5M to Vornado, LeFrak for office, retail in Midtown West condo tower





July 2, 2025

[ssh]

Seems cheap.

[ChiND]

Originally Posted by NYguy

https://www.pincusco.com/sedesco-pays-18...fice-retail-in-midtown-west-condo-tower/

Sedesco pays $18.5M to Vornado, LeFrak for office, retail in Midtown West condo tower





July 2, 2025

I saw that earlier today. Isn't 49 W 57th the beautiful old building on the corner? (I used to live right near there before I was reincarnated as a high school wrassler from the Midwest who comes to NY to preach salvation.)

I wonder if it includes that dumpy little retail eyesore that Vornado owns just to the east. If it does not, this transaction doesn't make much sense. I still hope that the Vornado/LeFrak and Sedesco sites are combined.

This project is as perplexing as the 407-415 Park deal.

[NYguy]

Originally Posted by ChiND

I saw that earlier today. Isn't 49 W 57th the beautiful old building on the corner?

No, it's the small white building that's part of the larger residential site. Sedesco is expanding the base of this tower, likely for a retail component.







It expanded to the east, now to the west...




























Visual representation of how much the base has expanded since renderings were revealed...

[ChiND]

That’s great news. That little retail building is horrendous. I’ve always hated it.

That being said, that schematic seems to suggest that it includes the brown brick residential tower on 58th. That doesn’t seem possible. Is that brown building a market-rate rental?



Also, even if Sedesco and Vornado do not combine their lots, I’m convinced that the design will change since the lot size has increased significantly.

[NYguy]

Just a little more on the deal...


https://therealdeal.com/new-york/2025/07/03/nyc-top-real-estate-deals-wednesday-july-2-2025/

The top commercial deal recorded in New York was for seven commercial condominiums at 58 West 58th Street near Central Park. A company linked to Sedesco paid $18 million for the units. The owner of the 33-story building known as Tower 58 is a holding company linked to LeFrak and Vornado Realty Trust, which bought the units and another building at 29 West 57th Street in 2006 for $58.5 million.

Another look at the expanding footprint...

[Crawford]

I wonder if they're emptying the residential tower, or doing a buyout.

Or there might be some legal way to split the lot.

But in any case, it's quite obvious that this development will have a much bigger footprint, and the design will change. And it's possible it could be much taller than proposed.

[NYguy]

Originally Posted by Crawford

I wonder if they're emptying the residential tower, or doing a buyout.

Or there might be some legal way to split the lot.

But in any case, it's quite obvious that this development will have a much bigger footprint, and the design will change. And it's possible it could be much taller than proposed.

The expanded footprint would allow the building to grow from a zoning total of about 320,000 sf to to nearly a half million, which is pretty substantial for this type of building.

[Crawford]

Looking it up, I'm predicting that apartment building will be emptied and demolished. It's a low-end condo conversion with a bunch of rental units.

I bet this will be like 405 Park, a condo building which was demolished a few years back and incorporated into a larger building lot. Same happened at 220 CPS, where a large apartment building was emptied and demolished.