Let’s face it: prices at the Ritz-Carlton, while resplendent, pale in comparison to the blindingly spectacular sales at buildings like 15 Central Park West and the Plaza. But with the $70 million Steve Wynn buy behind it and a new $50 million listing, The Wall Street Journal asks: is the Ritz ready to rise again?
It’s not as if the building has been doing shabbily or anything, but it hasn’t been the brightest star in the sky, The Journal notes. Built in 1930 as the Hotel St. Moritz, it’s lost some of the luster it once had and its debut on the luxury market was less than stellar. The condo conversion finished shortly after Sept. 11, and then the building got kind of eclipsed by the Time Warner Center and 15 Central Park West.
Lifestyles of the Rich and Famous
It appears that casino kingpin Steve Wynn did indeed buy Christopher Jeffries’ dazzling duplex at 50 Central Park South with more in mind than great closet space and Central Park Views.
It looks like he may be angling for a little resident respect when he vies for one of the state’s new casino licenses. And we thought he was still smarting over the loss of his old place at the Plaza!
Seeking redress: The bankruptcy trustee assigned to recover claims on MF Global’s U.S. brokerage unit pointed a finger at Jon S. Corzine, erstwhile CEO of the failed broker-dealer, in a 275-page report published yesterday. James Giddens, the trustee, may pursue claims of “breach of fiduciary duty and negligence” against Mr. Corzine and other Read More
It looks like casino king Steve Wynn‘s unlucky streak with New York real estate has finally come to an end. After selling his pad at the Plaza a few years back, Mr. Wynn has reportedly scooped up a penthouse at another famed New York hotel, the Ritz-Carlton.
According to the Post, Mr. Wynn has put in a winning $70 million bid for Millenium Partners’ founding partner Christopher M. Jeffries’ $77.5 million pad.
While some residences linger on the market for years, changing prices and waiting in vain for a buyer to come along and love them, others are pounced on almost immediately. The penthouse that once belonged to billionaire Teddy Forstmann is one such case. Not only was the Upper East Side co-op apartment at the center of a bidding war, but it wasn’t even listed publicly!
The house does always win–even when a casino owner is flipping his own.
Las Vegas gambling kingpin Steve Wynn has just sold his penthouse at the Plaza for $24.4 million. That’s $1 million more than he paid for it just a few months ago. Of course, when it comes to transfer taxes and commission, Read More
Manhattan Transfers Cheat Sheet
– It’s bad enough that Vegas casino kingpin Steve Wynn‘s divorce to his ex-wife Elaine was reportedly the most expensive in history, but now she’s got his palatial Fifth Avenue home, too. As of last year, Mr. Wynn quietly listed the full-floor condo at 817 Fifth Avenue for $25 million, a hike Read More
The Queens Aqueduct sounds like a tremendously depressing place. The parking lots are vacant, the horses race in front of mostly empty stands, and the people who do show up stand inside and watch simulcasts from other tracks.
“This isn’t a pretty place,” said Donald Rosen, whose horse, Boxitup, finished second in the Read More
Steve Wynn won’t be gambling on the Aqueduct Racetrack after all.
Today, Mr. Wynn pulled his proposal to develop a ”high-end clubby” slot machine parlor in Queens, just weeks before state leaders are expected to announce a licensee for the site.
It’s a surprising turn for the casino mogul. In August, Mr. Wynn sounded Read More
It has taken a while—far too long, in fact—but a plan to install slot machines and other entertainment at Aqueduct Race Track in Queens is nearing reality. The state is considering several proposals to convert the track into what’s known as a “racino,” that is, a combination casino and racetrack.
The state would be smart Read More