Art in Real Estate
A New York State Supreme Court Judge on Friday at least temporarily blocked Aby Rosen’s plans to remove Pablo Picasso’s “Le Tricorne” from the Four Seasons.
Mr. Rosen’s RFR Holding, owner of the Seagram Building, which holds the Four Seasons, planned to take the century-old painting down to repair a limestone wall behind it, reportedly referred to Read More
Lap of Luxury
It was lunchtime at Casa Lever, the high-end restaurant in the iconic Lever House, and Richard Baxter was on his BlackBerry negotiating.
It was a busy year for Mr. Baxter and his colleagues at Jones Lang LaSalle. His four-man team comprised some of the city’s most prominent brokers of large-scale commercial office buildings, and as the Manhattan sales market’s post-recessionary thaw continues, Mr. Baxter estimated that the group had tallied an impressive $1.3 billion in deals this year.
Three days before Christmas, however, it wasn’t one particular skyscraper Mr. Baxter was bargaining over from his plum seat at Casa Lever. In a year-end rush, his group had loose ends to tie up, deals to close and transactions still in the works. And so, on this particular Thursday amid a bustling lunch crowd, Mr. Baxter was not negotiating with a buyer or a building owner, but rather one of his own assistants, whom he was asking to stay late to receive critical documents and to help get the team through the rest of the day.
Developer and skyscraper collector Aby Rosen is known for his flare. The 81st most powerful man in local real estate is a connoisseur whose buildings are practically an extension of his extensive art collection — for every Warhol, Hering and Hirst, there is a Seagrams Building, a Lever House, a 40 Bond. He’s Read More
The frugality fad is fading fast.
Bidders are dropping multimillions on Warhols at Sotheby’s; Goldman Sachs wives are preparing holiday shopping extravaganzas in anticipation of record bonuses; and in the realm of commercial real estate, tenants are spending more than $100 a square foot on office space (in which to hang their newly acquired Read More
In April 2007, during those blindered days of economic bluster, The Observer published an article naming New York’s 10 most expensive towers, according to prominent real estate professionals. They agreed on the most valuable single building: the GM Building. That rocket of marble and black glass, considered then and now the most coveted skyscraper Read More