515 East 72nd Street

The Upper East Side condominium at 515 East 72nd Street, formerly known as Miraval Living, is a getting a new, cheaper spa operator. In October, the 365-unit building parted ways with its namesake spa after a dispute over delays and payments. Developer River Terrace Apartments, which has sold about half of its units there, told the New York Times yesterday that it has since signed on Setai Fifth Avenue spa and fitness center operator American Leisure and expects to open its own spa in early March. [more]

Clockwise from top left: Curtis Granderson signs autographs for fans, the indoor rock climbing wall at 515 East 72nd Street, outside 515 East 72nd Street, and (from left) Jim Sheehan, Curtis Granderson and Loretta Bradbury at the event

Yankees center-fielder Curtis Granderson headlined an event last night at the site of his current New York crash pad, 515 East 72nd Street, a new condominium which is revamping its image now that it has ended its association with the Arizona-based resort and spa, Miraval. Residents at the condo formerly known as Miraval Living, which started sales in 2007, have waited a long time for the building’s much-hyped spa facilities to open. The sponsor, River Terrace Apartments, has a new spa operator lined up and plans to announce it to residents within the next few weeks, the sales team told The Real Deal. In the meantime, Granderson appeared to provide a welcome distraction. [more]

515 East 72nd Street

The posh Miraval Living spa and the celebrity-filled Upper East Side rental-to-condominium conversion it was supposed to call home have severed ties after a feud between the developers and the operator, according to the Post. It’s unclear whether the soon-to-be-spa was kicked out or decided to split on its own — residents at 515 East 72nd Street, site of Bravo’s “Double Exposure” reality show, received letters from both Miraval and owners Zamir Equities and C&K Properties this week telling two different stories. “Due to their continual default on a contractual agreement, we can no longer manage the spa,” Miraval wrote to residents in its parting letter to residents. In the owners’ version of the feud, however, Miraval’s “refusal to agree on a spa opening date… ultimately was a breaking point,” they wrote. The luxe Arizona-based spa was announced four years ago in what was supposed to be a draw for buyers in the 365-unit building, but has long been delayed. Sales have also been slow. Building representatives said they plan to find a new spa operator and open the facility within 90 days. [Post]

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Miraval Living

Miraval Living, the 365-unit Upper East Side condominium conversion that’s readying for its television debut on Bravo’s “Double Exposure” reality show tomorrow night, has conveniently time [more]

Miraval Living

Miraval Living, the 365-unit Upper East Side condominium conversion that’s readying for its television debut on Bravo’s “Double Exposure” reality show tomorrow night, has conveniently time [more]

Rolan Shnayder of Home Owners Mortgage, which has been lending in a number of new condo buildings that are less than half sold

From the October issue: New condos — the black sheep of the real estate industry for much of 2009 — are finally beginning to move again as construction progresses and developers find ways to circumvent stiff presale requirements for mortgages. For example, the Tempo condominium in Gramercy, which sat virtually buyerless for months after it went on sale in September 2008, sold 10 units this summer. In Lower Manhattan, District on Fulton Street sold 10 units in August alone. The Fairchild at 55 Vestry Street in Tribeca, which had sold only one unit in April and none in February or March, put five units in contract in August and even saw a bidding war, the developer said. “Deals are getting done at new developments,” said Stephen McArdle, the principal of brokerage Urban Marketing, which is handling sales at District. “We’re seeing activity. Six months ago you weren’t seeing anything. The fact that the bottleneck is open is very encouraging.”