Posted by Leonard Steinberg on April 21st, 2014 Rupert Murdoch is in contract to buy the penthouse (combined with one floor below)at One Madison Park for $57,25 million, the fabled building that was possibly the most famous victim of the 2008 GREAT RECESSION, bailed out by HFZ Capital and Related, and redesigned on the interior… [Read More]
$50 MILLION TRUMP SOHO PENTHOUSE LISTED BY DOLLY LENZ
Posted by Leonard Steinberg on September 25th, 2013 As a follow up to last night’s BLURB, take note of another mega-priced listing: the presidential penthouse of the Trump Soho New York just hit the market for a whopping $50 million. The 10,000-square-foot (Maybe $ 5,000/sf is cheap compared to its competition?), customizable spot that’s being listed… [Read More]
ITS ALL ABOUT THE BIG VIEW, BUT NOT FOR ALL
Posted by Leonard Steinberg on June 14th, 2013 My recent experience selling 150 Charles Street, the record-shattering new Witkoff-developed building in the West Village, and more recent sales in other new very high end buildings in Manhattan, has given me a great insight into the mindset of New York high end buyers when it comes to… [Read More]
NEW YORK NEW DEVELOPMENT: THE NEXT CHAPTER
Posted by Leonard Steinberg on January 12th, 2013 In the coming weeks and months, over 7,000 units of new construction LUXURY apartments will be coming to the market in New York……that is a VAST number of units and will significantly alter the bland inventory landscape we are currently experiencing. While one could argue that the… [Read More]
ONE 57: THE LATEST ADDITION TO THE UBER-LUXURY MANHATTAN MARKET
Posted by Leonard Steinberg on November 19th, 2011 The other night I was invited to the launch of EXTELL’s newest addition to the New York skyline, One 57, the Christian de Portzamparc-designed 90 story, 1,000ft tall Tower located at 157 West 57th Street between 7th and 8th Avenues. Towering above the Time Warner Center, Trump’s One Central… [Read More]
THE NEXT BIG BUILDING AMENITY: ULTRA-SECURITY?
Posted by Leonard Steinberg on September 28th, 2011 With the development of new high end residential buildings such as Extel’s One 57, 150 Charles Street, the Rudin’s St. Vincent’s buildings, One Madison Park, 212 West 18th Street, etc roaring back to life in Manhattan, the question always arises at the marketing meetings: what is the… [Read More]
NEW YORK CONSTRUCTION COSTS/ECONOMY SET TO RISE?
Posted by Leonard Steinberg on July 8th, 2011 The past few weeks have been a hive of activity with developers snapping up development sites throughout the city: yes, the new development market is waking up and it is waking up with a LOUD BANG. These are some of the projects in the pipeline: The Drake… [Read More]
TOY BUILDING SELLS – WITKOFF IS THE WINNING BIDDER
Posted by Leonard Steinberg on June 30th, 2011 The Witkoff Group won in the bidding for the Toy Building, the Madison Square Park landmark once slated to be condominiums by developer Yitzhak Tessler. Supposedly the bidding was fierce with competitive bidders S.L. Green and Macklowe losing out on the purchase of this magnificent structure that… [Read More]
THE NEW DEVELOPMENT RETURNS TO NEW YORK: A GIANT AWAKENS
Posted by Leonard Steinberg on January 13, 2011 After a 2 year hiatus, ‘New Development’, the darling of Manhattan high end real estate is coming back with a vengeance! We hear new buildings such as the Extell’s Park Hyatt building, Harry Macklowe’s Park Avenue tower, 250 West Street, the Rudin’s St.VIncent building are all moving… [Read More]