Archive for June, 2013

432 Park Avenue Sales Update

Posted by ricardo on 6/10/2013 | |


According to the New York Times, the Penthouse at 432 Park Avenue is in contract for $95 million, placing it squarely in competition with One57 for the most expensive single family residence in Manhattan history.

In other exciting news, Curbed recently published the “First” Interior Illustrations of the 432 Park Avenue. While we saw these way back in October 2012, we are happy that the general public will now get to see what a gorgeous building Macklowe has planned for us:

432 Park Avenue Renderings on Curbed

To listen to Rafael Viñoly, 432 Park Avenue’s architect, discuss the project, check the video below:


Photo credits: dbox for CIM Group & Macklowe Properties


One57 Condo Update

Posted by ricardo on 6/9/2013 | |


This past week in New York, Extell unveiled its dramatically staged on-site model apartment on the 41st floor. The 3,228 sq. ft. three-bedroom model at One57 is listed for $17.5 million. Upgrades to the apartment, however, were reported to retail at $3 million. While the condo building is over 70% sold, with only one of ten full floor residence remaining (with an asking price of $55 million), the building has had its hardest time selling 3-bedroom units on its lower floors, directly south of the Essex House and its infamous neon sign. By targeting the lower floors for the model, Extell aims to show potential buyers what they are missing – fabulous views of Central Park and the city, regardless of the signage.

In other One57 news, the WSJ recently reported that a group of investors led by hedge funder William Ackman of Pershing Square Capital Management LP is in contract to buy the lower penthouse in the building for more than $90 million. The lower duplex penthouse on the 78th and 79th floors is 13,554 sq. ft. and features outdoor terrace and winter garden.

Source: WSJ

New Development Highlight: The Carlton House

Posted by ricardo on 6/8/2013 | |


Extell, the developer behind the ultra-successful, ultra-luxury One57, recently launched sales of the reimagined The Carlton House (on Madison Avenue between 61st and 62nd Street), just north of Barneys and only one short block from Fifth Avenue.  Already, the building has been a resounding success having sold approximately 40% of its apartments in only 6 weeks.

Set in a landmark district in New York, this once luxury hotel called the Helmsley Carlton House, is currently undergoing an extensive restoration and, in the process, transforming the many of the previous hotel rooms into 66 grand apartments, with grand price tags to match. Expect nothing but the best at Carlton House.

Buyers at The Carlton House can choose between Pearle or Mink interior color palettes – think bleached oak vs. ebonized wood flooring, exotic light wood cabinetry vs. ebonized wood cabinetry, and white polished marble vs. charcoal limestone, respectively. The building also features paneled entry foyers, marble galleries, and private terraces in some apartments.  The building features a ton of amenities as well, including a 24-hour doorman, “lifestyle consultants”, fitness center, indoor swimming pool, game room, & bike and private storage.

While The Carlton House sits on a land lease on Madison Avenue, the owner of the retail space is on the ground floor responsible for paying the156-year lease, not the residence owners, so owners pay nothing for this.

While prices at The Carlton House start at$3 million range, to get anything decent (which does not face a brick wall), be prepared to part with at least $4.5 million. However, it would not be an Extell building if they didn’t offer a 9,742 duplex penthouse or a 10,000 square foot townhouse for $65 million each!