The Real Deal New York

Posts Tagged ‘arthur zeckendorf’

  • Another day, another stunning 15 Central Park West resale attempt.

    On the 37th floor of the Zeckendorf brothers’ limestone masterpiece, the owners of a 2,761-square-foot, three-bedroom spread are angling for a roughly $13 million profit on their original purchase price.

    The $23.95 million asking price for the unit, which belongs to William Lawrence, founder of Meridian Capital Partners, and his wife, Gloria, and which popped up on the resale market yesterday, places it squarely in the building’s top tier, though it is hardly setting records.

    But nonetheless, a 124 percent markup (the Lawrences’ paid just under $10.7 million for the apartment in 2008) is nothing to sneeze at, and is one of the most ambitious resale attempts in the past year at one of the city’s most celebrated condominiums. [more]

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  • 15 Central Park West

    William Zeckendorf’s own 15 Central Park West penthouse is in contract for $40 million, or a record $10,259 a foot, according to the Post. That’s a per-square-foot residential real estate record for the city, the paper said, besting the $10,151 per square foot that Kazakhstani Bolat Nazarbaev — brother of the country’s president — paid for his apartment at the Plaza in 2008. The 41st-floor condo has three-bedrooms, three-and-a-half bathrooms and a litany of famous neighbors including Sting, Alex Rodriguez and Kelsey Grammer. Zeckendorf, who lives in the apartment, paid his development company $10.7 million for it during the building’s pre-construction stage in 2005. [Post]

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  • Developer Kent Swig was denied a motion to reargue or stay enforcement of a $32 million judgment by Square Mile Structured Debt yesterday. New York State Supreme Court Judge Bernard Fried ruled that Swig failed to prove any legal errors that would allow him to reopen or delay the case. The judgment was issued against Swig after he defaulted on a $28 million personal loan from Square Mile that was used to help develop the troubled Sheffield57 condominium near Columbus Circle. Fried denied the motion despite allegations that Swig was denied access to critical documents and that Square Mile misrepresented key facts to Swig. Fried ruled that the only way to issue a stay would be if the court “overlooked or misapprehended the facts or the law.” The ruling will likely provide further hardship for Swig and his considerable number of real estate assets, which include Swig Equities, the real estate development firm, Helmsley-Spear, the commercial real estate firm previously owned by Harry Helmsley and Terra Holdings (where he is co-chairman and co-owner), the parent company of Brown Harris Stevens and Halstead Property. [more]

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  • Swig sues to get pay from Terra Holdings

    September 28, 2009 05:09PM

    Developer and Terra Holdings Co-Chairman Kent Swig, has filed suit against an asset management firm for withholding nearly all of his compensation after a restraining order was issued to enforce a multi-million dollar judgment by Square Mile Structured Debt. Swig filed suit Sept. 24 against Manhattan-based Properties Asset Management Services in New York State Supreme Court, alleging the firm is withholding his compensation after Square Mile sent a subpoena requesting information about Swig’s salary and other compensation at Terra. No information was immediately available on the current amount of Swig’s compensation. [more]

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