The Real Deal New York

Category: One57

  • Gary Barnett and Broadway and 57th Street site (credit: PropertyShark)

    The upscale department store Nordstrom, which is known to have been shopping around Midtown for a New York City flagship location, is close to reaching a deal at West 57th Street and Broadway, the New York Post reported. Rumors had originally suggested that the retailer was considering anchoring developer Gary Barnett’s One57 building, just one block east of its future site. While the venue has changed the landlord has not. The site, adjacent to the landmarked B.F. Goodrich Building, was demolished by Extell Development to give way to a gleaming new tower. [more]

  • From left: a rendering of One57 and a rendering of a unit

    Chinese buyers are injecting billions into our residential real estate market nationally, the Wall Street Journal reported. And in an effort to court Asian buyers — mostly from China, but also Hong Kong, Singapore and Korea — developers are employing Feng Shui and installing wok kitchens, which feature stronger exhaust fans than their western counterparts, the Journal said. [more]

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    Iman Shumpert and the Mantena

    Knicks guard Iman Shumpert rents a three-bedroom unit in the Mantena building on West 37th Street. Michael Arad, the architect behind the 9/11 Memorial, takes on project to design rooftop garden for East Village school. Gary Barnett’s One57 tops out at 1,005 feet, now the tallest apartment building in the city. A look at under-appreciated green spaces throughout the five boroughs and the available homes around them. Finally, renovation of Le Parker Meridien’s basement into health, beauty and wellness mecca is complete. Read these stories and more after the jump.

  • From left: Noah Rosenblatt, Eric Barron, Mark Wenitzky and Jill Sloane

    Low mortgage rates together with an influx of foreign capital have boosted New York City residential real estate sales in the past year or so, especially at the “super-high end” of the market. But that trend may create some unintended consequences.

    Today’s Real Estate Trends panel, hosted by Citibank, shed light on the possible longer-term impact of the frothy market — for instance, buyers reluctant to sell when rates eventually do rise, and brokers’ reliance on European buyers, whose cash could dry up fast if the debt crisis on their home continent intensifies. [more]

  • One57

    Nordstrom is said to be continuing to negotiate for the retail space below 90 floors of Gary Barnett-developed condominiums at his forthcoming One57 tower. The New York Observer said that although it’s difficult to nail down and confirm the rumors, the combination of Barnett not actively marketing the space and Nordstrom’s known discussions with the developer at another one of his properties on Fifth Avenue and 47th Street is fueling speculation within the industry of the negotiations at One57. Barnett, who heads Extell Development, declined to comment on the latest report. [more]

  • From left: a rendering of 432 Park Avenue, 1214 Fifth Avenue rendering, 8 Spruce Street and One57 rendering

    New York City has entered the age of a residential arms race, where developers continue to try top each other, literally, in the height of their developments, according to the New York Times. By 2016 the city could have six of the country’s 10 tallest towers and three of its highest residential buildings. [more]

  • Extell Development President Gary Barnett and a rendering of the One57 penthouse

    Gary Barnett has set a new record for a New York apartment sales price with the deal for a penthouse apartment at his One57. According to the New York Times, an undisclosed but recognizable buyer has signed a contract, worth between $90 million and $100 million, for the 10,923-square-foot penthouse on the 89th and 90th floors of the forthcoming building. [more]

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  • Metropolitan Tower versus One57

    May 01, 2012 01:00PM

    From left: Howard Morrel, a senior vice president at Brown Harris Stevens, Leslie Hirsch, a salesperson at Brown Harris Stevens, an interior shot of Metropolitan Tower and an exterior one

    One57 is shining a spotlight on West 57th Street, and some insiders anticipate Extell Development Company’s glittering tower and its oft-mentioned astronomical asking prices will only boost property values in the neighborhood. But for the Metropolitan Tower, the 25-year-old triangle-shaped condominium building across the street, the emerging 1,000-foot structure of One57 is literally getting in the way — of the building’s unobstructed Central Park views. [more]

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