Of Real Estate and Politics
The political divide that runs down the middle of Central Park, dividing the very blue Upper West Side from the very red Upper East is considered as unyielding and insuperable as the Berlin Wall. During the last presidential election, the top two fundraising zip codes for both Barack Obama and Mitt Romney were on the Upper West Side (10024) and Upper East Side (10021) respectively, an ideological division that has held fast all these years despite all that is shared between the fabulously wealthy residents who live in the sprawling, pre-war co-ops lining either side of the Park.
However, as the results of the most recent mayor’s race reveal, the political leanings of the East and West sides are not as uniform as they seem at first blush—in fact, during an analysis of The New York Times‘ election district results, The Observer discovered that there are some surprising bastions of conservatism in a few of Central Park West’s most storied buildings (alas, no corresponding pockets of liberalism can be found in the posh precincts that radiate out from Fifth Avenue).
Hoping to get the weekend off? Be thankful you don’t work at the New York Athletic Club. Read More
Not even all the gaudy 1980s glamor in the world can stop the ravages of time. Empires rise and empires fall; the Helmsleys’ carefully-assembled real estate one is no exception. Leona Helmsley’s Estate has been selling off the couple’s carefully-assembled New York portfolio following her death in 2007, with one extensive renovation after another wiping out all the real estate magnates’ touches. And with the pending sale of the Park Lane Hotel, yet another trace of the tax-evading couple looks likely to disappear from the city’s landscape.
A deal has been reached to sell the Park Lane Hotel, the eye-catching 1970s tower on Central Park South, to a team led by the Witkoff Group for more than $650 million, the Wall Street Journal reported. And, as the purchase price suggests, whether or not the building is demolished, very little is likely to remain as is—the Park Lane’s appeal lies in its prime location. The dated architecture is just a bonus.
As the sun set last Wednesday over Central Park, dozens of the city’s top real estate brokers gathered inside the triplex penthouse of the Plaza. They sipped proper drinks and nibbled quails egg and smoked salmon. They chattered about art and opera and books, the usual uptown pretensions, but also, and mostly, about recent deals. Read More
Last month, word got out that Igor Krutoy was preparing to buy a $40 million condo at the Plaza Hotel, nearly but not quite a record buy. Yet it almost seemed like he was desperate to make a splash, as he mulled condos over the $50 million mark at buildings such as 15 Central Read More
As Mikhail Prokhorov and a cadre of globetrotting countrymen continue to expand their presence in the city, one of their comrades is shedding some of his, and at a considerable loss. In the summer of 2007, Boris Belotserkovsky, the boss of Russia’s one-armed bandits, bought a sizable one-bedroom on the 13th floor of the recently Read More
Leighton Candler, the Corcoran mega-broker who has the listing for Brooke Astor’s Park Avenue co-op, just listed a full floor, nine-room, three-bedroom, 5,894-square-foot apartment at the Ritz-Carlton on Central Park South for $35 million. It’s an ambitious listing for three reasons, but mostly because it’s hard to sell anything expensive nowadays (especially Read More