More and more Manhattan towers are being built on narrow pieces of land and as a result there is a little sway at the upper floors. According to NYT though, this is mitigated by installation of dampeners on the upper floors. Some dampeners add weight to the higher floors and some systems act as a shock absorbers. How much sway is there? The analogy used is having a wine glass and with high winds that are rare you can see the glass move. This would be what would happen without the dampeners. There isn’t a building code that requires this but all new development condos have them and it is not in anyway to make the building safe but rather for the comfort of the owners.
Category Archives: Luxury
432 Park avenue Highest Penthouse in NYC
According to HauteLiving, the highest penthouse in NYC is no longer on the market thanks to a Saudi Arabian billionaire-Fawaz Alhokair. The 8,255 square foot condo has 6bd/7bathrooms and a wood burning fireplace. $95 million was the reported price. If and when this deal closes, it will be the 2nd most expensive residential apartment sold in Manhattan behind the purchase of two floors atop the poster child for Billionaire’s Row: One57.
Mr. Alhokair’s company operates more than 2100 stores in fashion including having licenses for Zara, Banana Republic and Gap.
432 Park avenue is currently the tallest residential building in the Western Hemisphere. Prices start at $17mm up to $81mm for another penthouse. The building will have 125 units spread over 96 floors.
Brazilian Billionaire buys 80th flr in 157 West 57th st
Brazilian Billionaire Edson Bueno who sold most of his stake in his insurance and hospital company to UnitedHealth Group for $4.9 billion 3 years ago, purchased his 80th floor crash pad in One57 for $53M. According to NYDN, he bought it under a corporation. The apartment is 6240 sqft with 4 bedroms and 4 bathrooms and is located in the building that holds the record for most expensive residence sale at $100.47M. The apartment will be used as a pied-a-terre when the family is in NYC.
This sale is the ninth most expensive of all time in NYC but will likely be pushed lower on the list with several new condos being built in around Billionaire’s Row including 220 CPS which has already over $1 billion in sales according to reports.
Luxury Manhattan market oversupplied?
In January of this year, the Extell developed building known as One57 on Manhattan’s Billionaire Row set a record when it sold a 11,000 square foot duplex made up of the 89th and 90th floors for $100.47 million. It was the most expensive residential sale surpassing the previous record set at 15 CPW of $88mm. Now, as has been well documented in this blog and in the media, several other buildings are taking aim at this record and record breaking sell outs. Continue reading Luxury Manhattan market oversupplied?
217 west 57 street NYC tallest residential building
217 west 57 street aka the Nordstrom tower of developer Extell has released some renderings. The building should be completed by 2018 and will rise to 1479 feet at the roof level and have a pinnacle height of 1775. Developer Extell was also responsible One57 which is located at 157 west 57 street and has for now set the record for most expensive sale of a Manhattan apartment at $100.47mm earlier this year. Several other properties are going up around Billionaire’s Row including 432 Park avenue, and 220 CPS.
See the renderings by clicking on the link below.
Thinking of hiring a nanny? Read this first
Many families are staying in Manhattan and as a result of the cost of living being so high, two income couples depend on the services of a nanny. However, working out the terms of employment for this critical member of the family can be tricky for those who don’t do research first.
A nanny working more than 40 hours per week is entitled by law to overtime paid at time and a half. Some families are so attached to their nannies that they give them gym memberships, cars to use on the weekends, metrocards, money for food and even country club memberships. Many nannies claim that they are the ones being taken advantage of by the parents. As a result, lawsuits are on the rise behind nannies and their employers.
Read the full article on NYPost for some more advice and anecdotes.
Some of the most expensive NYC apts slash prices while others try to break records
The NYDN is reporting that several of the most expensive apartments in Manhattan are cutting their prices including a penthouse in Tribeca where the price is being slashed from $40mm to under $30mm for a 7000+/- space. At the same time, while other units incuding one at The Pierre are also slashing their prices, other developers are taking aim at the $100mm record set this year by the sale of an apartment at One57 on Billionaire’s Row.
Those developers inlcude 550 Madison aka the Sony building condo conversion where an apartment will reportedly ask $150mm, 520 Park avenue which will have a penthouse asking $130mm and 220 CPS where its’ top asking price is rumored to be $175mm!
NYC condos relaunch, sales improve
The NYPost profiles several condo developments that after subpar or no initial sales relaunched, traffic picked up and so did sales in some. Continue reading NYC condos relaunch, sales improve
Guess who lives at 15 CPW?
The building has the nickname “hedgie hive” because of the plethora of hedge fund owners/employees that live there. Denzel Washington makes his home there as well as Bob Costas and countless oligarchs including the one who held the previous record of most expensive residential apartment purchase before being broken by One57’s closing this year over $100mm.
The building is clad entirely in limestone and is actually two building separate by a motor court. The tower and the house as they are called share a private restaurant, gym, and lap pool. Prices which seemed high at the inception in 2008 now are only a fraction of their current levels. The address alone conveys a special cachet of status.
Click on the link below to see who lives there, how much they paid and who is cashing on before the luxury bubble burst.
Leonardo DiCaprio rents out 66 E 11 street pad for $25k/month
It is being reported by CurbedNY that Leonardo DiCaprio has rented out his 66 E 11 street in the Delos building which features built in juicing stations,
vitamin-C infused showers, posture supportive flooring and a kitchen herbarium among the many healthy living amenities. Continue reading Leonardo DiCaprio rents out 66 E 11 street pad for $25k/month