A Turkish trader who controls two firms that were sued by the Securities Exchange Commission last summer for insider trading is the latest international buyer to score a luxury Manhattan pad. The New York Observer reported Yomi Rodrig paid $4.8 million for a 28th floor unit in the Laurel condominium, at 400 East 67th Street. [more]
Posts Tagged ‘400 east 67th street’
From left: Shelley O’Keefe of the Corcoran Group, Soho Mews at 311 West Broadway, Corcoran Sunshine’s Joanie Achumacher and Kirk Henckels of Stribling & Associates
Two years ago the holiday season was a dark time for New York City’s residential real estate brokers. This holiday season is quite a departure. Appointments are up, housing supply is down and brokers are planning to work through the holidays, making sure to be available for international buyers who will be in town and may just want to pick up a multi-million dollar Manhattan apartment as part of a holiday shopping spree.
The bleak days of 2009 have not yet fully faded from memory. “Nothing compares to that,” said Shelley O’Keefe, a senior vice president at the Corcoran Group and head of on-site sales for Soho Mews condominium, at 311 West Broadway, of the 2009 holiday season, shortly after Soho Mews premiered. But things are more than looking up this year.
The penthouse in the Laurel, at 400 East 67th Street, was just sold for $11.23 million, public records show, and according to Victoria Logvinsky, the Prudential Douglas Elliman agent who represented the buyer in the sale, that is a record price for First Avenue.
While its difficult to substantiate that claim, information available from Streeteasy.com is consistent with it.
The 4,073-square-foot, four-bedroom, four-and-a-half-bathroom home was originally put on the market in March 2008, by the condominium’s developer, Alexico Group, with a $13 million asking price, according to Streeteasy.com. The price was dropped to $12.5 million 20 months later, before going into contract in June. – Adam Fusfeld… [more]
From left: Joanie Schumacher, director of sales at the Laurel, the Laurel’s teen lounge and the Laureate’s teen lounge (source: NY1)
Too old for the toddler play-room and not quite of age to head to the bar across the street, teenagers are the latest focus of luxury residential developments, according to NY1. Increasingly, teen rooms are listed next to gyms and pools in amenity lists.
For example, the Laureate condominium at 2150 Broadway, near West 76th Street, has a teen lounge with an educational twist, offering iPad and computer stations, educational activities, books, music and a soundproof room for music lessons. Across town, the Laurel condo at 400 East 67th Street on the Upper East Side has a more recreation oriented teen lounge, which feature a pool table, a foosball table, arcade games and an iPod dock…. [more]
Alexico Group is facing a federal lawsuit from two Toronto-based buyers looking to back out of their apartment contract at the Laurel condominium at 400 East 67th Street at First Avenue.
Warren Shepell and Morris Berchard filed suit Oct. 26 in U.S. District Court alleging that the developer failed to file a property report with federal regulators under the Interstate Land Sales Disclosure Act.
Shepell and Berchard signed a November 2007 contract to buy an apartment at the Laurel for about $2.7 million, and deposited $401,250 into an escrow account held by attorney Kramer, Levin, Naftalis & Frankel to reserve Apt. 12B, according to the complaint.
By June 2008, the buyers made a second deposit of $267,500, for a total deposit of $668,750, according to the complaint…. [more]
Bank of America filed to foreclose on two loans totaling more than $30
million provided for the development of a rental project dubbed the
Oliver to be constructed by the luxury developer Alexico Group on the
East Side. The lawsuit describes one mortgage from 2007 as the fee acquisition
loan, valued at $28.32 million, and the second as a development rights
acquisition loan from 2008, valued at $2.3 million. Both loans were originally due November 2008, but the maturity date was
extended to May 1, 2009. The loans were not repaid by that time, and
the bank notified the borrowers that the loans were in default, the
suit filed in New York State Supreme Court August 13, says. The loans cover five mid-block lots from 951 to 961 First Avenue,
between 52nd and 53rd streets, although the planned 30-story
development is only on the three northernmost lots totaling 75 feet by
100 feet, court papers and property records show. The other two lots
are occupied by five-story apartment buildings…. [more]