The Real Deal New York

Posts Tagged ‘one57’

  • Crane dangling from One57 after Hurricane Sandy and Gary Barnett (inset)

    Crane dangling from One57 at 157 West 57th Street after Hurricane Sandy and Gary Barnett (inset)

    Extell Development has finally taken down its much-maligned crane at One57, the developer said. “As One57 approaches completion, with its first closings scheduled for December, the crane was safely and successfully removed from the building this morning,” Extell said in a statement. [more]

  • 157 West 57th Street

    157 West 57th Street

    Extell Development’s much-maligned billionaire’s tower One57 is nearly sold out. [more]

  • south-street-seaport

    Rendering of South Street Seaport

    One year after Hurricane Sandy ravaged the East Coast, residents, landlords, businesses and the government are still picking up the pieces. While some remain homeless, others see hope, as commercial leasing rebounds in Lower Manhattan and Howard Hughes Corp. breaks ground on the redevelopment of the South Street Seaport’s Pier 17. On Sandy’s anniversary, The Real Deal took a look at issues still plaguing the industry, from faltering infrastructure, to dune restoration, to spiking flood insurance to the notorious crane that dangled from Extell Development’s One57 skyscraper. [more]

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  • reyna

    Diana Reyna and One57

    With the city still smarting from the revelation that five developers received tax breaks to build in sought-after neighborhoods under a program for underdeveloped areas, City Council member Diana Reyna has proposed a bill to tighten personnel and construction regulations on developers that get similar deals.

    Reyna, who represents the 34th district (covering Williamsburg, Bushwick and Ridgewood, Queens), introduced the so-called Safe Jobs Act last week. [more]

  • From left: 157 West 57th Street and Gary Barnett

    From left: 157 West 57th Street and Gary Barnett

    Extell Development has signed contracts for the majority of units at One57, but the remaining 30 percent — largely sandwiched in the middle of the 1,004-foot-tall Midtown skyscraper — are apparently not moving as quickly. [more]

  • Crane dangling from 157 57th Street after Hurricane Sandy, Gary Barnett (inset)

    Crane dangling from One57 after Hurricane Sandy and Extell’s Gary Barnett (inset)

    UPDATED, 5:45 p.m., October 7: A rogue crane at Gary Barnett’s One57 site menaced 57th Street once again. A crane at work on the luxury condominium development currently under construction stalled with a heavy load dangling in midair, according to preliminary reports.


  • Extell Development's Gary Barnett and the crane

    Extell Development’s Gary Barnett and the crane

    It’s been almost a year since a crane at the construction site of Extell Development’s condominium and hotel development One57 snapped in the winds of Hurricane Sandy, threatening to plummet 1,000 feet to street level. But the developer has still not snagged an insurance payout to cover the costs associated with the incident. [more]

  • From left: Renderings of 157 West 57th Street and 432 Park Avenue

    From left: 157 West 57th Street and 432 Park Avenue

    As architecturally offbeat buildings continue to pop up along 57th Street, it was only a matter of time before the critics started lining up to take a few jabs.

    New York Magazine’s Justin Davidson kicked off the snark with his thoughts on Macklowe Properties’ and CIM Group’s 432 Park Avenue, referring to the Rafael Vinoly creation as “a genuine clunker.” But it was Extell Development’s One 57, designed by French architect Christian de Portzamparc, that brought out the chief zingers. [more]

  • From left: Izak Senbahar, 56 Leonard Street, Gary Barnett and unlucky 13

    From left: Izak Senbahar, 56 Leonard Street, Gary Barnett and unlucky 13

    New Yorkers aren’t thought of as being particularly superstitious, but developers don’t want to take any chances. Less than 5 percent of mid- and high-rise residential condominium buildings in Manhattan and Brooklyn have a designated 13th floor, according to an analysis of 1,500 condo declarations by real estate listings site and data provider CityRealty. [more]

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  • An interior shot of the Quin at West 57th Street

    An interior shot of the Quin at West 57th Street

    West 57th Street is poised for three new hotels with about 650 luxury rooms, and all three will have high-profile restaurants that are expected to increase foot traffic to the block between Sixth and Seventh avenues.

    The 208-room Quin, located on the former Buckingham site at the northwest corner of Sixth Avenue, is slated for an October opening. The 240-room Viceroy at 120 West 57th Street will follow a few days later. And the 210-room Park Hyatt, part of Extell Development’s One57 condominium tower, will open in 2014. [more]

  • From left: A rendering of One57, some of the banned pets and Gary Barnett

    From left: A rendering of One57, some of the banned pets and Gary Barnett

    Gary Barnett’s One57 is opening its doors to the world’s elite – but not to their pigs. Other exotic critters, including gerbils, ponies and bunnies, are also animalia non grata in the 90-story tower. [more]

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  • From left: Renderings of 15 Penn Plaza and One57

    From left: Renderings of 15 Penn Plaza and One57

    Developers can use architectural renderings as a powerful tool to drum up support and enthusiasm for a project, as in the case of Extell Development’s One57. But renderings can also be an effective weapon to attack projects, as in the case of Vornado Realty Trust’s stillborn 15 Penn Plaza. [more]

  • From left: 157 West 57th Street, 56 Leonard Street, 10 Madison Square and 212 West 18th Street

    From left: One57 at 157 West 57th Street, 56 Leonard, 10 Madison Square and Walker Tower at 212 West 18th Street

    If every apartment at 432 Park Avenue sells for the asking price, Harry Macklowe would gross a cool $2.9 billion — enough to buy 8.6 million tons of sugar. [more]

  • Gary Barnett and a rendering of One57

    Gary Barnett and a rendering of One57

    Gary Barnett’s Extell Development has secured a round-the-clock work permit for his luxury One57 project, infuriating neighborhood residents who say there is no respite from construction, DNAinfo reported.

    The city allows workers at the 90-story condo and hotel project at 157 West 57th Street to run the exterior elevator and work on its crane from 12 a.m. to 11:59 p.m. every day from Aug. 5 to 18, including weekends, according to Department of Buildings documents seen by DNAinfo. Those permits are just the latest of more than 300 DOB variances issued over the past year allowing after-hours work at the site. [more]

  • one-57-432-park

    From left: Harry Macklowe, One57, 432 Park Avenue, Pamela Liebman (Liebman photo credit: Michelle Roy)

    Say you are a Manhattan real estate developer, and you are trying to convince savvy apartment shoppers to buy in your building — at prices per square foot that are two, three and even five times the average. A degree of secrecy, some say, is the best strategy. [more]

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  • 2012-one57


    UPDATED, 3:10 p.m., July 24: It’s been about a year and a half since units at One57 went on sale, and it seems that every few months Gary Barnett, the developer of the 1,004-foot-high tower, touts a new milestone for signed contracts. The most recent figure, which Barnett let slip in June, pegs the development at 70 percent sold. Still, with no public listings and closings still months down the road, there had been no cold, hard evidence of actual sales, until now. See a full pricing chart after the jump.

  • From left: Extell President Gary Barnett and One57

    From left: Extell President Gary Barnett and One57

    At Extell Development’s white-glove One57 condominium development — where asking prices have reached an astronomical $10,500 per square foot — buyers are set to receive a 94 percent discount on annual real estate taxes, the New York Times reported, citing a review of the offering plans of some of the city’s priciest new projects. [more]

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    Central Park from One57 (Source: CNN)

    The long, direct view of Central Park is what’s commanding hefty prices at the under-construction One57 tower, Extell Development President Gary Barnett told CNN.

    “None of the other buildings really have this kind of long view of Central Park — a lot of them have lateral views, angular views,” he told the news channel, calling the views “the money shot.” Click here to see the video and more.

  • A rendering of 432 Park Avenue

    432 Park Avenue rendering (Credit: dbox)

    Two residential towers will soon rise above the Empire State Building (not counting the spire), as the modern-day skyscraper war locks in on condos, the New York Times reported.

    Like the Depression-era battle between the Empire State and Chrysler buildings for supremacy, today’s developers are so eager to leave their mark on the city that they refused to let the recent economic crash stop them from constructing 1,000-foot towers. [more]

  • A rendering of One57 and William Ackman

    A partnership of Pershing Square Capital’s William Ackman and a group of real estate investors is in contract to buy a penthouse at Gary Barnett’s One57 condominium for north of $90 million, the Wall Street Journal reported. [more]