Sales are booming in buildings clustered around New York City’s public art destinations, as evidenced by the success of buildings near the Museum of Modern Art and the New Museum. [more]
Posts Tagged ‘jean nouvel’
Developers with big-ticket projects across the globe are increasingly targeting New Yorkers. So far this year, 13 offering plans for non-New York projects have been filed in the state, compared with only six in all of 2012, according to the New York State Attorney General’s office. The number is well below the 46 offering plans filed for non-New York projects in 2007 at the height of the market, however. [more]
Imperium Capital’s Sam Schneider and Daniel Glaser have partnered with Centurion Realty and an institutional investor to buy the retail condominium at the base of the Jean Nouvel-designed 40 Mercer Street for $80 million, the New York Post reported.
The retail condo – which stretches 75 feet along Broadway, 200 feet on Grand Street and 45 feet on Mercer Street – has 9,400 square feet of ground floor space and 4,700 square feet of below-grade space. The sellers were Savanna’s Nicholas Bienstock and Christopher Schlank, who paid $57.5 million for the condo last year, as The Real Deal reported. [more]
Singaporean real estate heavyweights the Kwee family may invest a $300 million equity stake in Hines’ long-dormant condominium project known as Torre Verre, the Wall Street Journal reported.
The Jean Nouvel-designed 1,050-foot tower slated to rise next door to the Museum of Modern Art has been languishing for a number of years due to a lack of financing. In 2007, megadeveloper Hines bought the site at 53 West 53rd Street from the Museum of Modern Art for $125.5 million. [more]
F. Scott Fitzgerald’s former villa on the Cote d’Azur
With laundry rooms closed post-Sandy, Peter Cooper Village residents demand rent breaks. JDS Development’s 202 8th Street in Gowanus (finally) hits the market. Developers turn to “sliver hotels” to reduce costs, follow zoning rules. Hey ladies! Women outnumber men in Williamsburg, Upper West Side, according to a gender breakdown of U.S. cities. Click here for these stories and more.
It seems like architect Jean Nouvel’s Torre Verre, or MoMA Tower, might be back on track, with a spokesperson for developer Hines admitting that the project was back on and imminent, the New York Observer reported.
Nouvel’s skyscraper, delayed by the financial crisis, was first introduced in 2007 to much critical acclaim. It was slated to be as high as 1,250 feet on land traded by the Musuem of Modern Art to Hines, for $125 million and three floors of galleries in the base of the new building. It would be tall enough to rival the Empire State Building. City Planning Commission Chair Amanda Burden was less enamored with the tower than others and insisted that 200 feet be knocked off the top, making it smaller than even the Chrysler Building. According to the Observer, Hines has quietly filed a new set of plans with the Department of City Planning, compliant with two special permits that the commission and the City Council approved in 2009. … [more]
As though the release of the 200-page 2011 Zoning Handbook were not sufficiently exciting for wonkish sensibilities, the agency responsible, the Department of City Planning, has just released “Vision 2020: New York City Comprehensive Waterfront Plan,” which is an update and extension of a similar study published in 1992.
It takes stock of what has been accomplished and what still needs to be accomplished along the nearly 520 miles of waterway that surrounds the five boroughs. As the report points out, four of those boroughs are on islands, and the fifth, the Bronx, is on a peninsula.
From left: Jennifer Post, 100 11th Avenue and Jean NouvelThe designer hired to redo Jean Nouvel’s lobby at 100 11th Avenue is now claiming that developer Cape Advisors stiffed her. Architect Jennifer Post, who has done interiors for the likes of Simon Cowell and Jennifer Lopez, was brought on at the posh Chelsea condominium after residents complained that the original sparse, black design was too dreary and brokers at the building blamed it for sluggish sales. Post jazzed up the place with large onyx sculptures and new carpeting, but told Page Six today that Cape still owes her $10,000 for her work…. [more]
“It’s very French to cut the head, eh?” French starchitect Jean Nouvel said of his planned MoMa tower, now 200 feet shorter after community opposition forced a height chop. “A guillotine.” In an interview with CBS News over the weekend, Nouvel explained that he had “tried to play with the idea of a needle” in designing the original, 75-story version. He’s currently working on a redesign. “My buildings are more famous than me,” he said.
Commercial real estate investment firm Pembrook Capital Management has
agreed to provide a $47.1 million, 24-month recapitalization loan for
the 100 11th Avenue condominium development in Chelsea, the lender
announced today. The new condo building on the corner of 19th Street,
where construction has been completed, is more than 50 percent sold,
according to Pembrook, with 26 of its 54 units closed. Closings began in November of last year, as The Real Deal
previously reported. The development previously had a $110 million loan
from Fremont Investment, which was inked in early 2007. TRD
Paolo Zampolli is using a unique strategy to entice foreign clients to
purchase property: the Italian broker and founder of ID Model Management takes them apartment hunting
around Manhattan on his $800,000 boat, according to the New York Post.
“This is a way to give them a real feel of New York and the skyline
and where they want to be,” Zampolli said. From the boat, clients
point out the buildings they like. Then, Zampolli arranges a tour of
apartments for sale in those buildings. Since the boat tours began a
couple of weeks ago, Zampolli said he has already sold a $3.6 million
apartment in architect Jean Nouvel’s new building at 100 11th Avenue on
the West Side. While some brokers take clients on boat tours of
oceanfront mansions in Florida, he says the sales tactic is new for Manhattan.
So far, designer Roberto Cavalli has been on board. [Post]
The retail space at 40 Mercer, the Jean Nouvel-designed condo developed by Hines Interests and Andre Balazs, has sold for $41.9 million to a company called GLL Real Estate Partners, city records show. The space, which has a street address of 465 Broadway, contains 9,400 square feet of space at the ground level. When it hit the market in June 2008, it was leased to high-end retailers Bose, Dermalogica and Vivienne Tam and to a Wachovia Bank. Studley’s Woody Heller reportedly had the listing, and at the time, he predicted that the retail condo would go for roughly $50 million. He declined to comment to the Observer yesterday. [NYO]
There could be more trouble brewing for the Jean Nouvel-designed MoMA tower at 53 West 53rd Street. Word has gotten out that the West 54-55th Street Block Association has filed an official petition to the New York State Supreme Court, citing environmental violations and the improper transfer of development rights, according to Curbed. Although it’s not yet clear when the court might make a decision on the petition, the document could put a temporary wrench in the works for the development.
In a residential market where most new developers are trying to cut costs, Jenene Danenberg is convinced she can still make them spring for an upgrade. And she has — most recently at 100 11th Avenue and 141 Fifth Avenue, both of which started move-ins last week. Cape Advisors brought in Luxury Attache during the development of its 72-unit Jean Nouvel project at 100 11th Avenue near 19th Street. David Comfort, a senior executive with Cape Advisors, said that the service was helpful in moving sales. “At the time we [began sales in February 2007], West Chelsea was not a [very] residential area, some of the niceties were not particularly known,” Comfort said. Luxury Attache helped educate buyers on attractions in West Chelsea, Comfort said, and even helped arrange travel plans for prospective residents. Luxury Attache, a four-year-old full-concierge service that developers and condo boards have on board to assist residents with everything from party planning to nabbing theater tickets, currently has a full-time station or at least dedicated services in place at 16 other Manhattan buildings. Those include Soho Mews, the Greenwich Club Residences, the Prudential Center, and Andre Balazs’ William Beaver House. Other clients include the National Hockey League, with whom they recently signed, and financial bigwigs like Goldman Sachs and Morgan Stanley…. [more]
Allan Schwartzman, a contemporary art curator and consultant, has become one of the first high-profile buyers to publicly close on an apartment at Jean Nouvel’s new West Chelsea development at 100 11th Avenue, the Observer reported. His new pad cost $3.78 million, according to a city deed filed Dec. 12. Nouvel’s building, which Schwartzman called “one of the most interesting buildings erected in New York in decades,” has 24-hour concierge service, an indoor/outdoor lap pool and 72 homes, all of which have floor-to-window ceilings and touch-sensitive bathroom fixtures. Joining Schwartzman at the glassy new tower will likely be Laurence Tosi, chief financial officer at Blackstone and Mario Testino, the fashion photographer, both of whom have put down deposits on apartments. [NYO]
Jean Nouvel’s glass condominium at 100 11th Avenue at the corner of 19th Street has begun seeing closings, according to a building spokesperson. The news may come as a surprise to The Real Deal’s architecture reviewer James Gardner, who gave the newly completed project a negative review in this month’s print issue of the magazine. The high-profile condo development was financed by a $110 million loan from Fremont Investment back in early 2007.
After yesterday’s announcement that the City Council had approved the construction of the Jean Nouvel-designed MoMa tower at 53 West 53rd Street, the opposition has pledged to continue its fight to stop the building from making its Midtown debut. “Nobody is against fine architecture,” Justin Peyser, a nearby resident and member of the Coalition for Responsible Midtown Development, told the New York Post. “The problem is where it’s being built.” The coalition, which is staunchly against the tower, will likely wage a legal challenge against the building, according to Peyser. Council member Dan Garodnick, whose district begins just north of the proposed tower site, said that the main gripe among his constituents is that the tower is too tall for the neighborhood.
The New York City Council voted to approve the Jean Nouvel-designed skyscraper today, set to build next to the Museum of Modern Art at 53 West 53rd Street between Fifth and Sixth avenues. The vote comes on the heels of massive discord over the proposed tower, which opponents feel is planned to be too tall for the neighborhood. It’s not yet clear whether development group Hines will restrict the height of the structure to 1,050 feet, as had been reported, or whether the tower will extend to 1,250 feet as the Hines group had hoped.
Development group Hines is deliberately trying to delay its Jean Nouvel-designed MoMa-adjacent tower, while placing blame on the city, according to New York Post columnist Steve Cuozzo. After City Planning Commissioner Amanda Burden told the group that its proposed tower on West 53rd between Fifth and Sixth avenues would be restricted to 1,050 feet, not the 1,250 feet that Hines had hoped, the developer made a stink, he said. According to Hines, Cuozzo said, the shorter structure won’t be financially sustainable. But the developer’s woes extend beyond 200 feet, Cuozzo says — according to him, the group doesn’t yet have the necessary financing to complete the project.
From the October issue: If imitation is flattery, as the saying goes, Soho, the downtown
Manhattan neighborhood that gets its name from its location “South of
Houston Street,” has admirers far and wide. Indeed, many once-derelict industrial sections of U.S. cities, where
warehouses have given way to loft-style apartments, now boast similarly
styled names melded from the landmark points that make up their
location, whether San Francisco’s SoMa (“South of Market Street”) or
Denver’s LoDo (“Lower Downtown”). But buyers, particularly out of towners, haven’t forgotten the
original, which has fared better than other upscale parts of Manhattan
during the real estate downturn…. [more]