In the latest issue of Depatures, Michael Gross, chronicler extraordinaire of the rich and real estate obsessed, takes a look at the race to cross the most tantalizing of all residential thresholds—the $100 million mark. Things have come close, of course—the $94 million contract signed on a One57 penthouse, the $95 million contract at 432 Park, the many conceited listings whose asks far exceed $100 million (reach for the moon, right? And if you fail, you’ll fall among the stars, drifting through a dark, oxygen-less abyss.) Besides breaking some news—notably, that the Zeckendorf’s 50 UN Plaza is offering its top three floors as either a $45 million floor-through and $55 million duplex, or $100 million triplex (which comes with what is sure to become the next must-have in trophy real estate: a private, 50-foot-long heated outdoor pool), Mr. Gross’s piece also includes some ridiculously good quotes. A few of our favorites, below:
It appears we underestimated the appeal of a key to Gramercy Park. Although we expect there’s probably more than access to a gated garden that’s driving sales at 18 Gramercy Park, the new condo conversion from the Zeckendorf/Robert A.M. Stern team. The 16-unit building had six units, all of them listed for more than $14.5 million, go into contract last week, according to Olshan Realty’s Luxury Market report (although the units most likely went into contract sometime over the past month).
The most expensive unit, a duplex penthouse listed for $42 million, went into contract earlier this month, reportedly for the full $42 million ask to Houston Rockets owner Leslie Alexander. And while $42 million might look like a steal compared to the prices paid at 15 Central Park West, the Zeckendorf’s other collaboration with A.M. Stern, it’s an impressive get. A downtown record, in fact.
Florida developer Gerardo Capo has paid $3.5 million for a 12th-floor condo at 15 Central Park West, city records show, moving about as far from Miami’s bottomless housing market as one can get–metaphorically speaking.
The chairman of the Capo Group lives in one of his own luxury condos in Miami Beach, just 48 miles east Read More
At least a dozen people at 15 Central Park West have thrown out an extra $800,000 or so for a pied a terre for the help to complement their own palatial condos. Penthouse owner Sanford Weil even paid $950,000 for a second unit that we can only assume is a closet since it Read More
After Morgan Stanley took a beating from the collapse of the subprime mortgage market, one would think the firm’s global co-chief of real estate investment might have second thoughts about making any real estate investments of his own. But not only did K.S. Kalsi (a.k.a. Sonny) and his wife pay $14.6 million for a fifth-floor Read More
When Joseph Betesh opened an Army-Navy store in the South Bronx in 1975 he probably never imagined he would become a full-fledged hip-hop clothing mogul with 19 branches of his Dr. Jay’s store spread across the five boroughs. Now the Sephardic Jewish retailer who made a fortune selling "urban apparel" to 18- to Read More
Compared to some of the other blue-chip investment banks in the city, Deutsche Bank was not well represented at 15 Central Park West. The lone Deutsche banker with a condo in the tower has been flying solo in a sea of Goldman and Lehman residents since he closed on a $9.9 million unit Read More
The first and only woman to gain entry into the 15-member boys club that is the Lehman Brothers’ executive board has now penetrated one of the city’s most exclusive buildings. Erin M. Callan, the recently appointed Lehman CFO, paid $6.5 million for a 31st-floor condo at 15 Central Park West, city Read More
It’s a good year to be a top-notch, shiny-shoe, uptown real estate broker. Less than a year after Sandy Weill finally closed on his $42.4 million penthouse at 15 Central Park West, his agent on the deal has gotten a condo of his own in the multi-billion dollar building.
Kyle Blackmon paid Read More
American retailers, as a whole, have seen much brighter days. But apparently some in the industry are faring better than others.
The president of New England department store chain Kids Town, Joseph Sutton, has purchased a $2.6 million pad on the 14th floor at 15 Central Park West, city records show, backed Read More