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	<title>Observer &#187; Big Buys at 170 East End—Michael Fascitelli Spends Over $16 M.— Basketball Court Included</title>
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		<title>Observer &#187; Big Buys at 170 East End—Michael Fascitelli Spends Over $16 M.— Basketball Court Included</title>
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		<title>Big Buys at 170 East End—Michael Fascitelli Spends Over $16 M.— Basketball Court Included</title>

		<comments>http://observer.com/2007/06/big-buys-at-170-east-endmichael-fascitelli-spends-over-16-m-basketball-court-included/#comments</comments>
		<pubDate>Tue, 05 Jun 2007 23:19:32 -0400</pubDate>
					<link>http://observer.com/2007/06/big-buys-at-170-east-endmichael-fascitelli-spends-over-16-m-basketball-court-included/</link>
			<dc:creator>Max Abelson</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/transfers-170eastendave1hth.jpg?w=300&h=164" />There are so many glistening, newfangled multimillion-dollar condos being built this century, with so many toddler playrooms and golf simulators and private squash courts, that you’d think supply would maybe outstretch demand. You’d be wrong.
<p class="text"><strong><span style="font-family: 'Exchange Text Bold'">170 East End Avenue</span></strong>, a soon-to-open condo designed by Madison Avenue Armani boutique veteran <strong><span style="font-family: 'Exchange Text Bold'">Peter Marino</span></strong>, has lured three massive buyers.</p>
<p class="text">According to a source, the contemporary art dealer <strong><span style="font-family: 'Exchange Text Bold'">Dominique Lévy</span></strong>—who set a record for Damien Hirst’s work last year by paying $3.3 million for a lengthwise-sliced sheep in formaldehyde—paid about <strong><span style="font-family: 'Exchange Text Bold'">$12 million</span></strong> for a combined-unit duplex on the eighth floor.</p>
<p class="text">The living room has 21-foot ceiling heights, which, of course, is convenient for canvases, and also for wall-mounted postmodern taxidermy. Ms. Lévy’s gallery, L &amp; M Arts, is about 10 blocks southward, at East 78th Street.</p>
<p class="text">The developer <strong><span style="font-family: 'Exchange Text Bold'">Eric Hadar</span></strong>—who must’ve had funds lying around from the $100 million sale of his stake in Lexington Avenue’s Citigroup Center last year—bought a mirror-image 5,000-square-foot duplex for around the same amount. According to floor plans, he and Ms. Lévy will each have six bedrooms, 1,926-square-foot terraces, plus about 260 extra square feet of balcony space.</p>
<p class="text">But that’s strictly for the hoi polloi when compared with the monarchic 17th-floor spread that Vornado Realty Trust president <strong><span style="font-family: 'Exchange Text Bold'">Michael Fascitelli</span></strong> bought for around <strong><span style="font-family: 'Exchange Text Bold'">$16 million</span></strong>. His 7,000-square-foot space naturally includes a two-hoop basketball court.</p>
<p class="text">Then there’s the 11-foot-long wine storage, the 16-foot-long computer room, the built-in bar and the kitchen suite, which includes a breakfast area and a TV/video room. The master bedroom alone has his-and-her walk-in closets (hers is bigger), his-and-her baths (his is bigger), a balcony and a dressing room. </p>
<p class="text"><strong><span style="font-family: 'Exchange Text Bold'">Orin Wilf</span></strong>, 170 East End Avenue’s developer, is probably flattered by his peers’ purchases. And his buyers are surely happy that there’s a golf simulator downstairs.</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/transfers-170eastendave1hth.jpg?w=300&h=164" />There are so many glistening, newfangled multimillion-dollar condos being built this century, with so many toddler playrooms and golf simulators and private squash courts, that you’d think supply would maybe outstretch demand. You’d be wrong.
<p class="text"><strong><span style="font-family: 'Exchange Text Bold'">170 East End Avenue</span></strong>, a soon-to-open condo designed by Madison Avenue Armani boutique veteran <strong><span style="font-family: 'Exchange Text Bold'">Peter Marino</span></strong>, has lured three massive buyers.</p>
<p class="text">According to a source, the contemporary art dealer <strong><span style="font-family: 'Exchange Text Bold'">Dominique Lévy</span></strong>—who set a record for Damien Hirst’s work last year by paying $3.3 million for a lengthwise-sliced sheep in formaldehyde—paid about <strong><span style="font-family: 'Exchange Text Bold'">$12 million</span></strong> for a combined-unit duplex on the eighth floor.</p>
<p class="text">The living room has 21-foot ceiling heights, which, of course, is convenient for canvases, and also for wall-mounted postmodern taxidermy. Ms. Lévy’s gallery, L &amp; M Arts, is about 10 blocks southward, at East 78th Street.</p>
<p class="text">The developer <strong><span style="font-family: 'Exchange Text Bold'">Eric Hadar</span></strong>—who must’ve had funds lying around from the $100 million sale of his stake in Lexington Avenue’s Citigroup Center last year—bought a mirror-image 5,000-square-foot duplex for around the same amount. According to floor plans, he and Ms. Lévy will each have six bedrooms, 1,926-square-foot terraces, plus about 260 extra square feet of balcony space.</p>
<p class="text">But that’s strictly for the hoi polloi when compared with the monarchic 17th-floor spread that Vornado Realty Trust president <strong><span style="font-family: 'Exchange Text Bold'">Michael Fascitelli</span></strong> bought for around <strong><span style="font-family: 'Exchange Text Bold'">$16 million</span></strong>. His 7,000-square-foot space naturally includes a two-hoop basketball court.</p>
<p class="text">Then there’s the 11-foot-long wine storage, the 16-foot-long computer room, the built-in bar and the kitchen suite, which includes a breakfast area and a TV/video room. The master bedroom alone has his-and-her walk-in closets (hers is bigger), his-and-her baths (his is bigger), a balcony and a dressing room. </p>
<p class="text"><strong><span style="font-family: 'Exchange Text Bold'">Orin Wilf</span></strong>, 170 East End Avenue’s developer, is probably flattered by his peers’ purchases. And his buyers are surely happy that there’s a golf simulator downstairs.</p>
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