It looks like Billy Maklowe and wife Julie will not be getting a new home for the holidays. At least not at 950 Fifth Avenue. While the New York Post reported that real estate scion (son of Harry) was in contract to buy a 12-room co-op there this November, it looks like the deal has fallen apart.
At least a deal has fallen apart. The paper trail shows that the sprawling duplex, which first hit the market in July with Stribling brokers Cindy Kurtin and Jessica Vertullo Maher, went into contract in October. Only to re-emerge, back on the market, at the very end of November. Whether or not the rebuffed or regretful potential buyer was Mr. Macklowe, who helms William Macklowe Company, remains a mystery. Ms. Kurtin gave The Observer a “no comment” when we reached her on the phone.
What better way to pass these strange, disordered days after Hurricane Sandy than by inking the contract for a $27.5 million apartment on the Upper East Side? Harry Macklowe’s son, budding real estate dynamo Billy Macklowe, certainly thought so, at least according to The New York Post. The Post reports that Mr. Macklowe signed an under-ask contract for a four-bedroom, 5.5-bath co-op apartment at 950 Fifth Avenue.
It seems that all the money flowing through Manhattan’s luxury market these days is encouraging owners of extravagant abodes to try and cash in. After all, buyers keep signing decadent deed after decadent deed, even with the dog days of summer approaching.
Today, three properties hit the market in the $20 million to $29 million range. Which, after the recent debut of a $50 million listing at the Ritz-Carlton and the impending debut of Walker Tower’s $50 million penthouse listing, seems almost modest. And, according to The New York Times, we should all brace ourselves for the arrival of some more listings in the $90 million range in the near future.
I wonder if Mort Zuckerman will be baking any pies to welcome his new neighbor at 950 Fifth Avenue, the exclusive seven-unit co-op he calls home. According to city records, the duplex on the eighth and ninth floors formerly belonging to Goldman Sachs veteran and former president of the Whitney Museum Robert Hurst, has sold Read More