Love and Real Estate
The sun was setting when we arrived at Westbeth, and as soon as we entered the labyrinthine corridors of the artists’ housing complex, we found ourselves dreaming about living here, in what a friend described as “a Hotel Chelsea that never dies.”
As far as impossible dreams go, gaining residence in the rent-stabilized complex, which sprawls across an entire city block in the West Village and offers studios with rent that starts around $600 a month, is one of the most heart-wrenching. The waiting list is not only seven to 10 years long but has been closed since 2007. (As if the rent weren’t appealing enough, Richard Meier was the architect who oversaw the building’s 1970 factory conversion.)
But at least visitors got a peek on a recent Friday evening, when residents in 20 of the complex’s 383 apartments opened their doors for the PEN World Voices Festival’s “Literary Safari”—a somewhat surreal pairing of the literary and the domestic.
Red Carpet Real Estate
Who needs two sprawling New York apartments? Not Nicole Kidman. The Hollywood star has finally sold one of her New York apartments, the airy spread at 176 Perry Street.
The residents of Richard Meier’s On Prospect Park once spent their days roaming the empty halls of the glassy tower, a vertical ghost town rising over Prospect Heights. But those days are long gone.
The building, which hit the market in 2008, has finally sold out, Brownstoner reports. And they got the news straight from the horse’s mouth—lead Corcoran broker Cheryl Nielsen-Saaf (although Brown Harris Stevens took over the brokering during the project’s home stretch).
Things may have looked bleak during the recession for On Prospect Park, but the tower’s most expensive penthouse has finally sold for $5.1 million, just as everyone knew it eventually would.
Are boom times here again? Well, when it comes to gentrification in Brooklyn, Prospect Heights in particular, it’s not a question of if but when, and Prospect Heights was already pretty far gone when the sleek tower was just a rough sketch in Richard Meier’s head. Even if The New York Times did call the starchitect-designed condo “a wall of windows into the real estate bust” back in 2009.
It is almost impossible to live inside one of Richard Meier’s fabulously sleek homes without a net worth exceeding eight figures. From Hamptons homes to the Perry Street “lofts,” those glass sentinels overlooking the Hudson, Mr. Meier’s architecture is synonymous with the high-end. But just across the river, in Newark, 200 lucky teachers will be able to call a Richard Meier apartment home.
Once, living in a building with celebrity residents or prewar pedigree was the goal of every nouveau riche New Yorker. Trump International, anyone? Yes, please, 740 Park.
Now upwardly mobile denizens of our great city have slightly different aspirations: starchitect developments; that is, buildings designed by jet-setting, Pritzker-prize winning architectural wizards, typically of the old guard variety. While some have suggested that the starchitect craze is the result of pure unadulterated vanity, it turns out that buildings have made a pretty penny since they began to sprout up a decade ago, Crain’s reports.
Keith Jacobson, a retired banker turned developer, has sold the two floors he owned at 173 Perry Street.
The glass building was designed by Richard Meier, though, despite the high-brow aesthetic, poor construction marred the property. When the issues with the building were being made public, Mr. Jacobson made his move, buying two floors in 2004. He paid $2.465 million for the seventh floor (which he purchased from Vincent Gallo) and slightly less, $2.25 million, for the sixth floor. He sold the conjoined apartments for $10.5 million this week.
It took five years for the first penthouse at the Richard Meier-designed On Prospect Park to sell, but significantly less than that for the architect to lock down a new lease.
Richard Meier & Partners has signed an early renewal of their 18,500-square foot lease at 475 10th Avenue. They’ll be hanging out on the Read More
On the final night of Fashion Week, New York’s sartorial royalty skipped the final few Fall 2011 shows in order to get a peek at Set in Style, the new Van Cleef & Arpels exhibition at the Cooper-Hewitt.
Bergdorf Goodman’s Linda Fargo, in frothy Vera Wang, lamented having to miss the two shows for the Read More
Richard Meier caused a near riot when his Perry Street lofts opened last decade in the far West Village. The two glassy towers were so popular they spawned a third next-door and nearly transformed the neighborhood.
The developers at SDS Procida were hoping for a similar success in Brooklyn, where they built On Read More