Huys signage
New York’s going to seem a little more like New Amsterdam. The team at the condominium project at 404 Park Avenue South will bear a Dutch name — Huys — to go with its Dutch developers, Curbed reported. The name comes from Stadt Huys, the old Dutch spelling of City Hall, and is pronounced like “house.” [more]
East Midtown Plaza
New York State’s highest court has ruled that East Midtown Plaza will remain affordable, ending years of feuding between residents over whether the six-building co-op complex should get privatized, Real Estate Weekly reported.
The 746-unit complex, between First and Second Avenues and 23rd and 25th Streets, is covered under the Mitchell-Lama Law, which sets limits on apartment sale prices. A group of residents—dubbed the “privateers”—wanted to take the co-ops private to turn a profit on their unit sales and to bring in income for the property from increased flip taxes. Another group—the “antis”—wanted to maintain the complex as affordable housing for the area. [more]
From left: 121 Madison Avenue and 27 East 30th Street (buildings credit: PropertyShark)
A Great Neck-based REIT, One Liberty Properties, Inc., has sold two adjacent mixed-use Murray Hill buildings for $18.25 million, the New York Observer reported. The addresses of the buildings are 121 Madison Avenue and 27 East 30th Street. They sold to an entity called Nomad Land Company, LLC.
Together, the buildings comprise nearly 133,000 square feet of residential and retail space. The property located at 121 Madison totals 112,000 square. The building dates back to 1895 and was converted into luxury rentals. [more]
Anne Mulcahy and 50 Gramercy Park North
In all the buzz surrounding the launch and subsequent rush of sales at Arthur and William Lie Zeckendorf’s 18 Gramercy Park, other Gramercy Park projects, such as Ian Schrager’s Gramercy Park Hotel apartments, have fallen out of the public eye. However, one former CEO has chosen Schrager’s building — residents of which have included actress Jennifer Aniston and fashion designer Karl Lagerfeld — over Zeckendorf’s for her new home.
Anne Mulcahy, the former chairperson and CEO of the Xerox Corporation, has paid $4.55 million for a three-bedroom spread at the property, according to public records filed with the city today. The deal for the apartment, which was listed by Michele Kleier, Sabrina Kleier Morgenstern and Isabel Solmonson of Kleier Residential for $4.85 million, closed October 19, the records show. [more]
Developers William and Arthur Zeckendorf welcomed brokers to 18 Gramercy Park last night for the official unveiling of their 16-unit luxury condominium conversion overlooking the fabled garden.
With about half of the 16 units under contract – including the $42 million penthouse reportedly promised to Leslie Alexander, owner of the NBA’s Houston Rockets – William Zeckendorf said he expected to sell the remaining apartments at a pace of about one per month…. [more]
From left: Melanie Lazenby, Leslie Alexander and a rendering of 18 Gramercy Park
The identity of the purchaser of the $42 million duplex penthouse at 18 Gramercy Park has been revealed: Leslie Alexander, the owner of the NBA’s Houston Rockets team, made the slam-dunk purchase, the New York Post revealed.
As reported last week, the deal breaks the highest price ever paid for a Manhattan apartment south of 59th Street. As Curbed reported, the previous record was set by Alexander himself when his penthouse at Superior Ink traded for $31.5 million. [more]
From left: Jovani Rampersad, Jonathan Tootell and 450-460 Park Avenue South (credit: PropertyShark)
OfficeLinks, the workspace, meeting facility and virtual office service provider, has inked a 10-year lease for 14,000 square feet at Joseph Moinian’s 450-460 Park Avenue South, Crain’s reported. This marks the OfficeLinks’ fifth location in Manhattan and its second space taken at a Moinian property. [more]
From left: Roche CEO Severin Schwan and the Alexandria Center for Life Sciences
Roche, the Swiss pharmaceutical company, will open up a research center in New York City, the New York Times reported. The firm signed an 11-year lease to take space inside the Alexandria Center for Life Sciences, at 450 East 29th Street.
New York and New Jersey competed to host the pharmaceutical giant after it announced in June that it would shutter its Nutley, N.J. campus where Valium was first developed. Roche chose New York due to its proximity to leading academic medical facilities. However, in compromise, Roche will keep 50 managerial positions in New Jersey. [more]
From left: Jonathan Rose Cos. founder Jonathan Rose, Blesso Properties founder Matt Blesso, Gold Development founder Romy Goldman, L+M Development Partners co-founder Ron Moelis and Durst Organization President Douglas Durst
Thirty-three developers submitted applications before Friday’s deadline to develop 50 so-called “micro-unit” apartments on a city owned site in Kips Bay, the Wall Street Journal reported. Applicants were expected to devise their own financial terms, including acquisition costs, the mix of affordable and market-rate units and the rent.
“The financial side is really the big challenge here,” Jerilyn Perine, executive director of the Citizens Housing and Planning Council, told the Journal. “The city didn’t dictate that many things.” [more]
From left: Jovani Rampersad, Chris Hughes and 60 Madison Avenue
The New Republic, the Washington, D.C.-based magazine of politics and culture, has inked a 3,750-square-foot lease at 60 Madison Avenue, according to a Moinian Group announcement released today. Jovani Rampersad, commercial leasing director at Moinian represented the owner; Elie Reis of Rice & Associates represented the tenant in the transaction. The office will be used for executive and editorial purposes. [more]
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