The Real Deal New York

Category: One57

  • ackman

    One57 in Midtown and Bill Ackman

    Billionaire hedge-funder Bill Ackman of Pershing Square Capital is looking to flip the One57 penthouse condominium he and a group of investors acquired last year for roughly $90 million.

    Such a turnover could render it the priciest attempted flip of a condo unit ever, according to New York Times. Ackman said he acquired the 13,500-square-foot duplex with his friends for “fun.” [more]

  • From left: Extell's Gary Barnett, One57 and Silas Chou

    From left: Extell’s Gary Barnett, One57 and Silas Chou

    Two big sales at Extell Development’s One57 hit public records today – totaling $79 million. [more]

  • Gary Barnett and a rendering of One57

    Gary Barnett and a rendering of One57

    After a lull in sales, activity at One57 has picked up in the past few days, most recently with the $27 million sale of a 63rd-floor apartment in the Extell tower.

    Sponsor unit 63B, which was not listed on StreetEasy, went into contract in August and closed earlier this month for $27.13 million, property records filed with the city today show. [more]

  • one-57

    157 West 57th Street in Midtown, and Noble Black

    Chicago-based investor SSO Enterprises flipped a condominium unit at One57 for a profit of nearly $4 million, having paid $30.6 million for it in May and unloading it for $34 million this week.

    The three-bedroom unit on the 58th floor at Extell Development’s forthcoming high-profile residential tower was on the market for $40 million as a sponsor unit. Hedge-fund manager Harvey Sandler and his wife Phyllis acquired the 4,483-square-foot resale unit for $34 million. [more]

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  • View from the Park Hyatt New York's Spa Nalai

    View from the Park Hyatt New York’s Spa Nalai (Credit: Mella Robinson for Business Insider)

    Earlier this month, the luxury hotel chain Park Hyatt opened its flagship New York location, Park Hyatt New York.

    Housed inside the near-complete condo One57 on 57th Street, Park Hyatt is 25 floors of sheer elegance and opulence. Rumor has it, in fact, that the Park Hyatt New York could become the first new five-star hotel in New York in more than 11 years. [more]

  • From left: 70 Pine Street and 3 World Trade Center

    From left: 70 Pine Street and the ground floor of 3 World Trade Center

    Fall is the season of light layers, new television and real estate. A number of projects, both residential and commercial, are on the move ahead of the winter season. [more]

  • Cohen-Missry-Polevoy-One57

    From left: Bruce Cohen, Morris Missry, Martin Polevoy and One57 at 157 West 57th Street (Photo credit: John Cahill)

    Within the lofty heights of New York City commercial and residential real estate world, it’s often a given that as the prices rise, the number of industry professionals equipped to service such buyers and sellers, declines. [more]

  • One57 unit sells for $32.5M

    August 08, 2014 06:00PM
    Closed sales at Barnett's One57 now total nearly $450 million

    Closed sales at Barnett’s One57 now total nearly $450 million

    The latest in a series of bumper sales at Gary Barnett’s One57 is a 63rd-floor pad that a mystery buyer just picked up for $32.5 million, according to property records filed with the city today. That’s a little over $7,250 per square foot. [more]

  • park-hyatt

    One57 and Park Hyatt component

    Hyatt Hotels Corporation paid $390 million for a 100 percent stake in the Park Hyatt hotel component of Extell Development’s One57 tower project. [more]

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  • From left: Gary Barnett and Roy Kim (Credit: Urban Compass)

    From left: Gary Barnett and Roy Kim (Credit: Urban Compass)

    Extell Development’s top design executive left Gary Barnett’s firm to join Urban Compass. Roy Kim, who worked on projects including One57 and the Carlton House, will build a new development team at the cash-rich real estate tech startup. [more]

  • The Park Hyatt New York

    The Park Hyatt New York

    WEEKENDEDITION Hyatt Hotels is hoping to make its Park Hyatt New York, which is opening next month at the base of One57, Manhattan’s first new five-star hotel in nearly a decade. [more]

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  • 15 CPW spread hits market for $59K a month

    November 12, 2012 10:00AM

    Blu’s Vince Rocco and the 15 Central Park West spread

    Hot on the heels of real estate author Michael Gross’ assertion that Extell Development’s One57 will never live up to the success of Zeckendorf Development’s much-beloved limestone towers at 15 Central Park West, a luxe rental at the latter has come on the market asking $59,000 per month.

    The four-bedroom unit came on the market on Saturday, shows. Listed by Blu Realty’s Vince Rocco, Shane Shimon and Denise Rosner, it is available for a minimum of one year. The property is currently the most expensive rental unit available at the building. [more]

  • The crane at One57

    It appears that the boom of the One57 crane – an enduring image of last week’s storm – was alarmingly close to plummeting 1,000 feet to street level. Building engineer Michael Alacha estimated it had an 80 percent chance of falling, the New York Times reported, in a play-by-play account of what transpired at the site during the storm.

    “In my mind, the boom was going to go,” said Alacha, who was on the scene at One57 shortly after the collapse. “We still had another 6 to 10 hours of severe wind,” he added. “It was rocking. Usually, metal gets fatigued and it would let go.” [more]

  • From left: Gary Barnett, a rendering of One57 and the secured crane at One57

    The saga of  One57’s disabled crane is coming to a close. The crane has been successfully secured and the surrounding buildings reopened. Workers spent the weekend using a a hand crank to rotate the cab and crane platform closer to the building. Once it was close enough, construction workers used steel cables and beams to tie the 150-foot boom to the building’s concrete columns. It may take days, or even weeks, for the giant boom to be lowered to the ground. [more]

  • The crane at One57

    The city now has a plan to retrieve the dangling crane at One57, the Wall Street Journal reported. Work is expected to begin tomorrow — and will take an estimated 36 hours, according to the New York Observer’s Twitter feed.

    To get the machinery down, a worker will reportedly rotate the whole crane using a hand crank, which will turn the boom toward the building, according to the Journal. Cables will then secure the boom to steel arms that have been installed near the top of the tower. Then a derrick will be installed to lower the damaged machinery down to street level. [more]

  • Shoe designer Sam Edelman

    Retailers are in the process of recovering from Hurricane Sandy, with many stores reopening and others remaining dark. The storm’s impact on business might not have a severe effect on upcoming holiday sales, but consumers with damaged properties could direct their holiday shopping dollars into storm clean-up instead, retail experts told Crain’s.

    “They might not be spending on holiday gifts in November,” Jack Kleinhenz, chief economist at the National Retail Federation, told Crain’s. “They might be spending instead on buckets and wood.” [more]

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  • Mayor Bloomberg and the collapsed crane at One57

    Mayor Michael Bloomberg said today that he expects individuals could return to their homes and offices near One57 this weekend. The block of West 57th Street was cleared following the collapse of a crane at the luxury tower on Monday, and city and private engineers are working to fully secure and, eventually, dismantle the suspended crane.

    If the weather cooperates, the city expects to tie down the crane this weekend, “dramatically” reducing the size of the area that has been evacuated, Mayor Bloomberg said. However, it could take weeks to build another crane, and the mayor warned that some “sporadic closings” could take place as crews take down pieces of the One57 crane, he said. [more]

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  • What’s next for One57?

    October 31, 2012 10:00AM

    From left: Gary Barnett, a rendering of One57 and the collapsed crane at One57

    [Updated 1:21pm, with comment from Extell] Among the many depictions of Hurricane Sandy, the image of the One57 crane, bent backwards like a wilted stalk, is among the most indelible. In the aftermath of the collapse, construction engineers and city officials are working to fully secure the crane. Meanwhile, questions about what caused the incident and what it will mean for the high-profile Extell project and its developer, Gary Barnett, are largely unanswered.

    At press time, the crane continued to dangle 74 stories above West 57th Street, which had been evacuated between Sixth and Seventh avenues. Steam, electricity and gas in the surrounding area were shut off, Mayor Michael Bloomberg said yesterday. [more]


  • The crane that collapsed at One57 was not tied down, Donald Trump is alleging. Trump told CNBC that he could see the crane from his window and it was moving violently in the wind before it collapsed. Trump is not involved with the One57 project.

    “I know lots about cranes and lots about building, and I am looking at that crane right now,” Trump said. “I have a window that’s just about even with that crane and I was watching it yesterday, and they didn’t tie it down.” See the video after the jump

  • Mayor Bloomberg: One57 crane is stable

    October 30, 2012 11:30AM

    The crane at One57

    The broken crane at Extell Development’s One57 development, dangling about 1,000 feet above West 57th Street, is likely to remain an enduring image of Hurricane Sandy, which has left the East Coast battered. But the more immediate concern is getting the crane down from its perch — atop the under-construction luxury condominium that the New York Times billed as a “billionaires club.”

    During an 11 a.m. press conference, Mayor Michael Bloomberg said that the New York City Department of Buildings has determined that the crane is currently stable. He said the there would be no attempt to secure the crane until winds die down, and that it would be up to the contracting company to figure out how to get another crane 90 stories above street level. [more]

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