What exactly does the city’s most expensive apartment ever look like? By now you are no doubt well aware of Sandy Weill’s $88 million charity project at 15 Central Park West, but you’d like to see some photos of the place before you put in your bid. Fortunately Architectural Digest has you covered, and the potentially record-shattering-apartment does not disappoint. Read More
Oh to be a financier! The glory! The money! The custom apartment with park views! But then, of course, there are the low points. When the public turns against a moneyman, it is practically impossible to bounce back… particularly in the day and age of #Occupy. These are all sentiments former Citigroup CEO Sandy Weill Read More
It seemed impossible to understand why William Lie Zeckendorf would ever leave Bruce Wasserstein’s old place at 927 Fifth, as he did earlier this year, and after only owning the place for a few months. The answer is simple, and simply two words: 740 Park. Read More
While eyebrows were certainly raised when Brooke Astor’s former home at 778 Park Avenue was listed for $46 million in 2008, many merely rolled their eyes.
The price, particularly after the economic downturn, was seen as astronomically (and unrealistically) high, but after repeatedly hacking millions off the ask, “the real” Astor place has finally sold, Read More
Last week, The Observer wrote a story about the hyper-exclusive co-op 740 Park.
As The Observer noted, the building is cash-only. Many people questioned if foreclosure was even possible, in fact, in a building that forbids residents from borrowing against their properties. We noted in the piece that Kent Swig, a one-time 740 Park resident, happens to co-own Brown Harris Stevens Residential Management, which manages the building. A source told us that Mr. Swig was allowed to take out a loan for the apartment because of this ownership stake. (Mr. Swig no longer lives there; the apartment is controlled by estranged wife Liz Macklowe.)
Brown Harris Stevens sent The Observer a letter after the story was published, denying any conflict of interest. Read More
This week The Observer profiled Jeff Sutton, arguably the most powerful retail landlord in New York City. New Yorkers may be forgiven, however, for not knowing his name—Mr. Sutton resides among that nebulous class of real estate moguls who own vast swathes of the city but who have never met a reporter they wanted to talk to. Read More
It seems that Larry Gagosian has been quietly looking for a new place to throw his raucous parties. And found one he has. Read More
This past spring, our Matt Chaban cracked the sale of the 40-foot-wide townhouse at 117-119 East 69th Street that the late Jim Henson used as a studio to craft his Muppets. (We’re quickly reminded of News Corp. employee Homer Simpson’s description of what a Muppet is for son Bart: “Well, it’s not quite a mop, it’s not quite a puppet, but man… [brief laughter] … So to answer your question, I don’t know.”)
And we don’t quite know what might become of the Muppet Mansion now that its purported owner, James Murdoch, confronts a full schedule in London. Here’s the thing: Read More
Crain’s is out with its 50 Most Powerful Women in New York list, and CB Richard Ellis regional CEO and Real Estate Board of New York chair Mary Ann Tighe takes the top spot.
And you know exactly why. Read More
Some of New York real estate’s finest joined The Observer last night to celebrate our 100 Most Powerful People in New York Real Estate list. The party, at the Harmonie Club on East 60th Street, attracted one half of our No. 1 pick—Jody Durst—whose “better half” (as Mr. Durst insisted of his cousin Douglas) could not make it.
New York Attorney General Eric Schneiderman spoke to the 200 assembled guests.
Optimism was plentiful last night, as partygoers discussed real estate’s comeback with us—many insisting that the dark days are over and the market is looking up.
Stay tuned for more coverage in next week’s Commercial Observer.
