The AbingdonFrom the May issue: In a still-difficult economy, developers are increasingly tailoring buildings to suit the needs of serious buyers. That means targeting two very active groups of purchasers at opposite ends of the spectrum: out-of-town buyers looking for small pieds-à-terre and families raising children in the city.

Empty-nesters, pied-à-terre purchasers or just people looking to avoid a jumbo mortgage often want small but comfortable apartments in full-service buildings, and many new developments are now aimed at this demographic. [more]

From left: a rendering of 432 Park Avenue, 1214 Fifth Avenue rendering, 8 Spruce Street and One57 rendering

New York City has entered the age of a residential arms race, where developers continue to try top each other, literally, in the height of their developments, according to the New York Times. By 2016 the city could have six of the country’s 10 tallest towers and three of its highest residential buildings. [more]

Extell Development President Gary Barnett and a rendering of the One57 penthouse

Gary Barnett has set a new record for a New York apartment sales price with the deal for a penthouse apartment at his One57. According to the New York Times, an undisclosed but recognizable buyer has signed a contract, worth between $90 million and $100 million, for the 10,923-square-foot penthouse on the 89th and 90th floors of the forthcoming building. [more]

From left: Howard Morrel, a senior vice president at Brown Harris Stevens, Leslie Hirsch, a salesperson at Brown Harris Stevens, an interior shot of Metropolitan Tower and an exterior one

One57 is shining a spotlight on West 57th Street, and some insiders anticipate Extell Development Company’s glittering tower and its oft-mentioned astronomical asking prices will only boost property values in the neighborhood. But for the Metropolitan Tower, the 25-year-old triangle-shaped condominium building across the street, the emerging 1,000-foot structure of One57 is literally getting in the way — of the building’s unobstructed Central Park views. [more]

Kathy Braddock

State-of-the-art fitness centers and outdoor spaces double as the most sought after and most frequent amenities in luxury Manhattan residential buildings. But according to the New York Times a decidedly low-tech amenity is gaining traction among buyers and developers are responding. They’re bringing libraries to their buildings.

Extell Development is bringing one to its high-profile One57 condominium and the the Toll Brothers are doing the same with their forthcoming Touraine condo on the Upper East Side. [more]

From left: Tommy Hilfiger and One57

Fashion icon Tommy Hilfiger was seen at the sales office for One57, where penthouse units are expected to fetch as much as $110 million, the New York Post reported. Hilfiger reportedly checked out a $20 million-plus full-floor unit at the tower, which will not open until next year. [more]

Corcoran Sunshine Director of Sales Dan Tubb and new renderings of One57

About 30 percent of the apartments at One57 are under contract, according to Gary Barnett, founder of Extell Development Company, the developer behind the 95-unit luxury condominium tower.

Barnett, who would not discuss which units are finding buyers or what kinds of prices they are paying, was at the One57 off-site sales office today for a press-only panel discussion on the architecture and design of the 90-story tower at 157 West 57th Street. [more]

From the January issue: Even in a year marked by continued economic malaise, buyers, sellers, landlords, lenders, builders, investors and even tourists broke records in New York in 2011. Several developers last year made headway on towers that, when built, are set to surpass the highest points in the current skyline. The most notable, of course, is One World Trade Center, which will be New York’s tallest building when it reaches its full height of 1,776 feet. After the jump, see a list of the all-time highs — and lows — reached in the last year. [more]

From the January issue:Last month The Real Deal spoke with real estate professionals to learn which projects and players will be on their radar in the year ahead. After dozens of interviews, hours of research and many editorial meetings, we winnowed down a list of real estate players and projects to watch in 2012. We weren’t looking for the city’s top brokers, or the biggest firms or the most successful developments. Instead, we were looking for the most interesting newcomers who are already making a splash, or the veterans putting their expertise to use in a different way. We looked at the developments that have the power to change a neighborhood — or demonstrate the folly of hubris. We looked at the new alliances that will be tested in the coming year, and the investors who have money to plow into property in the upcoming months. [more]

A rendering of One57

It’s no surprise that Extell Development President Gary Barnett said the $110 million he is asking for a penthouse in the forthcoming One57 condominium is a bargain, but according to Forbes there is some sales data to support Barnett’s seemingly wild claim.

For example, the $88 million Russian billionaire Dmitry Rybolovlev reportedly paid for 6,744 square feet at 15 Central Park West comes out to about $13,049 per square foot, whereas the $110 million penthouse has 10,923 square feet, rendering its asking price $10,070 per square foot. [more]